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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Wednesday, August 20, 2003 - Vol. 5 No. 98
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In This Issue:
* COMMENT: Benefit from Dollar's Decline
* OFFSHORE: Sealand Sinking. Barbados Credit. Caricom Travel.
Tax Breaks: US Expats, UK Foreign Residents. Belgian Dual Nationals.
* WEALTH: Gold Value. Hedge Funds. Insurance Fraud. More Bankruptcies.
Israel Blocks Bank Accounts. IRS Abuse Reports.
* PRIVACY & RIGHTS: PATRIOT Act Under Attack. Ashcroft Defensive.
Freedom to Read. Customer Info. Pentagon Snoops. Flying Robot Spies.
Attorney Privilege. PC Spyware. Passports, Visas. China IDs.
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LINK: http://www.isecureonline.com/Reports/OHL/WOHLH600/
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Guest Comment today is by LEN GALVIN, editor of Pocket Money
Real Estate, a leading international real estate investment newsletter.
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COMMENT: Benefit from Dollar's Decline
Dear A-Letter Reader:
Since October 2001, the US dollar has fallen 44% against the New Zealand dollar.23% against the euro.30% against the Australian dollar.and 29% against the lowly Czech koruna, formerly one of the world's weakest
currencies.
I'm not going to bore you with a macroeconomic analysis of why the U.S.dollar is losing its value worldwide.only point out that the factors that most economists believe are causing the fall--huge balance of trade deficits, enormous fiscal deficits and a sluggish economy--have so far NOT been dealt with. For these reasons, many economists believe that it's safe bet that the dollar's decline will continue.
The question is: how can we profit from this trend? This is an especially important question for US investors, since the global value of a US investment portfolio goes down along with the sinking dollar.
One fun and profitable way to do so is with international real estate.Not only are real estate prices soaring in many countries, but you can obtain additional profits in the underlying currency. A few examples: In October 2001, a four-story Gothic fortress in the Czech Republic with five acres of land and farm buildings cost US$33,000. Today, it costs US$47,000 -- a 42% profit in less than two years. In December 2001, a large five bedroom Tudor style house with a 1/4 acre of land was US$44,000 in New Zealand. Today, it costs US$61,000 -- a 39% profit in 20 months.
In December 2001, a two bedroom cottage in the Irish countryside cost US$45,000.Today, it costs US$60,000 -- a 33% profit in 20 months.
In February 2002: a one bedroom apartment in Lazio, Italy cost US$47,000. Today, that costs US$55,000 -- a 17% profit in 18 months.
In March 2003, a new apartment development in Cyprus opened. Studios were $25,500, one bedroom apartments were $40,000 and a two bedroom apartment was $54,500. Today, the studio costs $28,000; the one bedroom apartments are $44,500; and the two bedroom apartment is $60,500. That's an 11% increase. In just five months.
I could go on. But you get the idea.
Buying foreign real estate has the potential for profit on at least five ways: currency appreciation, capital appreciation, leverage (if you borrow money to purchase it), renting it out, and, in some cases, tax breaks. On the other hand, US$50,000 won't buy as much in these countries as it did last year.or even last month in some cases. Is it still possible to find $50,000 properties around the world? Of course.
We've just got to look a little harder (my job as editor of Pocket Money Real Estate), and keep on reading (yours).
Len Galvin
E-mail: editor@pocketmoneyrealestate.com
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COMMENT LINKS:
* Disaster ahead for the US economy, dollar. Dr. Kurt Richebächer.
LINK: http://www.financialsense.com/editorials/daily/2003/0711b.htm
* Universal foreign currency converter. LINK: http://www.xe.com/ucc/
* Best way to purchase real estate in France (and elsewhere).
LINK: http://www.internationalliving.com/postcards.cfm?pcard=2086
* Free sample issue of Pocket Money Real Estate.
LINK: http://www.pocketmoneyrealestate.com
* International Living. LINK: http://www.internationalliving.com
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* OFFSHORE *
SEALAND/HAVENCO; A SOVEREIGN DECLINE
Offshore platform's Gilbert & Sullivan journey.
LINK: http://www.theinquirer.net/?article=11109
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BARBADOS GOOD CREDIT RATING
BRIDGETOWN: On a high: credit rating still among the best. LINK:
http://www.nationnews.com/StoryView.cfm?Record=41287&Section=LO&Current=2003-08-18 00:00:00
* Caribbean workers soon can move freely within Caricom nations.
LINK: http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=14646
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U.S. EXPATS URGED TO PROTECT TAX BREAK
Act against possible repeal of the Foreign Earned Income Exclusion
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=13034
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BRITISH ACCOUNTANTS HIT OFFSHORE TAX BREAK
UK accountants support tax reform for foreign residents. LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1059479124116
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BELGIAN DUAL CITIZENSHIP
BRUSSELS: Expats plea for dual nationality rights. LINK:
http://www.expatica.com/belgium.asp?pad=88,89,&item_id=33534
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* ADVERTISEMENT *
100% Accuracy. With Average Gains of 100%!
Steve Sarnoff Has Given His Readers A Chance to turn $5,000 Into $1 Million With the
Hot Streak of the Decade
If you were one of this Steve's loyal readers in 2006, you would have had a chance to make money on every single one of his recommendations. And not just small gains, either - the average return was 100%. Catch this streak while it's still hot - and learn how quickly you could turn $5,000 into $1 million.
LINK: http://www.isecureonline.com/Reports/OHL/WOHLH600/
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* WEALTH *
THE CONTINUING VALUE OF GOLD
Agora's Bill Bonner comments on the enduring precious metal.
LINK: http://www.escapeartist.com/efam/49/Gold_Bonner.html
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* Hedge funds saw record inflows in 2nd quarter. LINK:
http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20030819-001073-1506
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* Bank's lie detectors set to trap insurance fraudsters.
LINK: http://www.edinburghnews.com/index.cfm?id=886752003
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* US personal bankruptcies continue to surge. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A10720-2003Aug18.html
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* 190,000 bank accounts in ISRAEL blocked yesterday. LINK:
http://www.globes.co.il/serveen/globes/docview.asp?did=716489&fid=942
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* IRS abuse reports prepared for the US Congress.
LINK: http://www.neo-tech.com/irs-class-action/1.html
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* PRIVACY & RIGHTS *
PATRIOT ACT UNDER ATTACK
US Dept. of Justice launches defensive campaign to save
unconstitutional, police state law. Ashcroft hits the road.
LINKS: http://www.nytimes.com/2003/08/19/politics/19PATR.html
http://www.wired.com/news/politics/0,1283,60083,00.html
* America fights for freedom to read without police surveillance. LINK:
http://www.sunspot.net/news/opinion/oped/bal-op.patriot18aug18,0,1458168.story?coll=bal-oped-headlines
* Feds demanding more info about companies' customers. LINK:
http://www.ajc.com/business/content/business/0803/17patriot.html
* US Senators vow to kill Pentagon snooping schemes. LINK (scroll
down): http://www.azcentral.com/news/articles/0814poindexter14.html
* Feds plan Big Brother flying spy robots to watch us all. LINK:
http://story.news.yahoo.com/news?tmpl=story&cid=96&ncid=753&e=10&u=/space/20030814/sc_space/ufosvsuavshowtotellfriendfromfaux
* Homeland Security plays name games with US air travelers.
http://www.miami.com/mld/miamiherald/news/local/6557188.htm
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ATTORNEY-CLIENT PRIVILEGE IN CANADA
When legal privilege has a common interest. LINK:
http://www.globeandmail.com/servlet/ArticleNews/TPStory/LAC/20030818/PFLEGA18/TPBusiness/General
* Lawyers in US consider snitching on cheats. LINK:
http://www.canada.com/calgary/calgaryherald/info/business/story.html?id=C80EA78C-C4D4-41B0-8ACE-9551CA985A72
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* Software that monitors all activity on a computer
and forwards the information to a remote watcher.
LINK: http://www.theinquirer.net/?article=11035
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* All about US passports and visas. LINK:
http://www.chicagotribune.com/travel/chi-010905passport.story?coll=chi-travel-utl
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* CHINA plans a super ID card for billions. LINK:
http://www.nytimes.com/2003/08/19/international/asia/19CHIN.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. *
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