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The John Galt Approach to Wealth Protection
Alettermock2
Thursday, October 19, 2006
Vol. 8 No. 209
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In Today's Letter:
Comment:
The John Galt Approach
to Wealth Protection
Offshore:
Panama Gets its House Together
Wealth:
Taiwan Looks Cheap
Privacy:
Time to Renew Your Passport
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Take the John Galt Approach to Wealth Protection After the Election
Today's
comment is by Ron Holland, a member of The Sovereign Society's Council
of Experts. Ron Holland has retired from the investment business and he
and his dog Lucky now live and market real estate at Wolf Laurel Resort
in NC at an elevation of almost 5,000 feet where there are no
parasitical fleas or mosquitoes.
Dear A-Letter Reader:
The 2006 election is a Catch-22
situation for your wealth. You will be placed in an unfavorable
position no matter what voting choice you make or which party wins the
election and controls the House and Senate.
"Politicians are always interested in people. Not that this is always a virtue. Fleas are interested in dogs." - P.J. O'Rourke
We know it is election time again as the television pharmaceutical
industry advertisements claiming to solve everything from sleep
problems to impotence are being pushed aside as politicians run
negative ads against their opponent over and over again. The few
positive ads tell how the politicians are really interested in us and
our problems. Well they are certainly interested in voters at election
time but for other reasons. As P.J. O'Rourke writes above, politicians
live off of our created wealth and this is a totally parasitical
relationship. "Government is a broker in pillage, and every election is a sort of advance auction in stolen goods." - H.L. Mencken (1880-1956) The Political Outcome Is Not In Doubt!
- A group of politicians and their special interests will win the
election and productive Americans will lose as always. The 2006
election will result in either the GOP (Grand Old Party) retaining
control of the House and Senate or the GOP losing one or both
Congressional houses to the Democrats. But in the end it really doesn't
matter.
The Election Policy Outcome - What will happen to
the U.S. regulatory environment, the dollar, interest rates, American
real estate and investment markets if the Republicans lose the House or
the Senate to the Democrats? Second, after the 2006 elections are over
what unfinished business do the politicians have to take care of as
they jockey for position for the 2008 Presidential elections? Will Iran
be bombed, will American troops begin to withdraw from Iraq and
Afghanistan or will the Middle East turmoil subside and again simmer on
a slow boil? Finally will the "convenient" drop in oil prices and the
hold in interest rate increases end with the election?
Who Do You Vote For?
- It really doesn't matter whether you vote Republican, Democrat, a
combination of party candidates or choose not to vote at all.
Once upon a time, the people of the United States as Franklin stated
were well armed with the checks and balances of the Bill of Rights, the
Constitution, state sovereignty and the right of democratic secession
which served to protect us from the wolves. Today as we can see with
the Patriot Act and other post 9/11 counter measures against terrorism,
productive Americans are just sheep being led to the slaughter, not
physically but with our accumulated wealth.
"Democracy
is two wolves and a lamb voting on what to have for
lunch. Liberty is a well-armed lamb contesting the
vote!" - Benjamin Franklin The Election Outcome for Your Wealth
- President Bush and the Republicans have destroyed our remaining civil
liberties and financial freedoms including the right to privacy since
9/11. The legal profession has worked to kill all legitimate asset
protection and defense against an out-of-control lawsuit mania here in
the United States. If the Republicans win the status-quo, this won't
change. On the other hand if the Democrats win power over the
Congressional houses, you can expect higher taxes, less deductions,
more wealth transfer programs, and further attacks on legal protections
and property rights.
Take The John Galt Approach To Defending
Your Wealth - If you value liberty and want to protect your hard earned
wealth, vote with your assets by diversifying your portfolio outside
the United States. In the novel Atlas Shrugged by Ayn Rand, John Galt
gave up on trying to save America from evil politicians and special
interests. Instead of trying to save everyone, he said he would stop
the motor of the world -and he did as he escaped to Galt's Gulch. You
should do the same thing by sending your wealth elsewhere.
It is a waste of time, effort, and money to think we can really
impact the trends of a growing police-state atmosphere at home and an
empire abroad at the ballot box when the entire political process in
both parties is totally controlled by special interests. Do you really
believe your political contributions or political action can remove the
control of the Trial Lawyers Associations from the legal system? The
political game is rigged beyond.
Vote with your wealth
and give up on the American legal and political system as your sole
option for wealth protection and investment profits. The Sovereign
Society and reputable financial providers can provide legal and
reportable wealth preservation and investment strategies for American
investors. All jurisdictions and politicians are not created equal.
Jurisdictions like Switzerland, the Isle of Man, Liechtenstein, etc.
can really protect your money and defend your wealth from the parasites
here in the United States. Of course, you must still pay Uncle Sam but
the rest of the parasites are usually out of luck with a properly
structured offshore wealth preservation program.
RON HOLLAND
www.wolflaurelnews.net
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Panama Gets Its House in Order
One
of the major concerns about Panama taking over its famous Canal in 2000
was the continuing financial mess of the nation's government. Continued
deficit spending, massive borrowing, growing debt all raised questions
about what would happen to the canal tolls once Panama's politicians
got their hands on hundreds of millions in annual ship revenues.
The good news is that the current government of President Martin
Torrijos has been working to improve finances. Evidence of this is
shown by the World Bank's approval of a $60 million loan for Panama to
support the government's public finance reform program. It also
signifies a long term partnership between the World Bank and Panama.
Panama's GNP has grown at a respectable rate of more than 6% during the
past three years reaching for 7% in 2006. A World Bank official says:
"This excellent growth performance in part reflects the efforts by the
government of Panama to restore greater fiscal discipline and thereby
strengthen the overall foundation for sustaining broad-based economic
growth." This economic good news should comfort the many Americans,
Canadians and others considering retirement or a second home in Panama,
and they thousands already living there.
BOB BAUMAN, Editor
LINK: http://www.businesspanama.com/latestnews/article.php?nid=221
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Taiwan Looking Cheap
Over the last
several days, many international markets, including Wall Street, have
surpassed their summer 2001 highs, while some bourse in the emerging
markets are still hitting all-time highs almost daily. But that's not
the case in Taiwan.
Taiwanese stocks still trade 45% off their all-time highs back in
February 1990 while benchmark bonds in the country yield two percentage
points less than the Taipei Weighted Price Index, which offers
investors a 3.8% effective yield. That's a pretty fat dividend yield
for a stock-market in today's low interest rate environment. The MSCI
World Index currently yields just 2% while the S&P 500 Index yields
a lowly 1.8%. In the United States, benchmark 10-year T-bonds yield 3%
more than the S&P 500 Index.
Stocks in Taiwan are tied to the semiconductor market, an industry
that has long suffered since peaking in March 2000 along with the
NASDAQ. It's been a long climb for stocks in Taipei because most
technology stocks have lagged the recovery in world markets over the
last three years. Yet some stocks in this prosperous nation pay good
dividends, including Taiwan Semiconductor, yielding 4% per annum.
For 2007, I think we'll see a broad-based recovery for technology
stocks, including the semiconductor market. I also think value
investors will find Taiwanese shares absolutely and relatively
attractive compared to other bourses in the region.
ERIC ROSEMAN, Investment Director
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Time to Renew Your Passport!
The
U.S. State Department is now rolling out passports equipped with radio
frequency identification (RFID) chips, and expects that by the end of
2006, all newly issued U.S. passports will contain such a chip.
The
RFID chip in the "e-passport" stores your name, a digital photo, and
other information in the passport. In the future, the State Department
tells us, the chip might store fingerprints or digital visas from
various countries.
I don't have a problem with this aspect of the State Department's
e-passport initiative. But where I do have a problem is that the RFID
chips can be read remotely. Just imagine: standing in an airport lounge
or train station, your passport information might be read
surreptitiously by terrorists or identity thieves.
Of course, the State Department says that it has taken all appropriate security measures to prevent unauthorized access.
However, these measures leave a lot to be desired. The chip can
still be read when the passport is open, so all a terrorist or identity
thief needs to do is install a RFID reader in the vicinity of a hotel
desk, bank teller, or anywhere else foreigners are routinely required
to show their passports. The State Department insists the chip can only
be read from a few inches away, but independent researchers have
demonstrated they can be read from many feet away, and the technology
for remote access is continually improving.
Other security flaws in e-passports have also been discovered. One
researcher found that he could identify individual chips from the radio
transmissions. In Germany, a computer hacker actually cloned an
e-passport chip. And since passports are issued for a 10-year period,
whatever security is built into the chip has to be effective for a full
10 years after it's issued.
The state Department is willing to make millions of U.S. citizens
guinea pigs for a flawed technology, but you don't need to be one of
their test subjects. Renew your passport now.
MARK NESTMANN, Privacy Expert & President of The Nestmann Group
www.nestmann.com
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