I don’t normally put out this many articles in one week, but this week has been very unique. For starters we launched our offshore conference, ‘Global Escape Hatch – Panama 2012‘, where you can learn from experts on such topics as; international investments, offshore banking, asset protection, 2nd passports, data privacy, and more.
We also made you aware of an opportunity to get in on the inaugural edition of ‘World Money Analyst‘, where you can get access to boots-on-the ground research for unique investment opportunities from all around the globe.
Today I want to discuss recent events that involve governments of the world turning up the heat on the kettle full of frogs like you and I.
On December 4th, Italian prime minister, Mario Monti announced a daily cash restriction of 1,000 euros ($1,310) per person. Any transaction beyond this amount must be handled by an approved Italian credit institution.
On February 8th, Argentina’s president, Christina Fernandez announced an immediate daily cash restriction of 1,000 pesos ($231) per person. The measure basically means that any transaction beyond that amount must be involve use of an Argentine bank account authorized by the central bank.
On April 4th, Spanish prime minister, Mariano Rajoy announced his plan for combating tax evasion which was approved by the cabinet 2 days later on April 6th. The plan prohibits any cash transactions over 2,500 euros and like Italy and Argentina, any transaction beyond this amount must be handled by an approved credit institution.
Please don’t let this news just fade into oblivion. This has a very real impact on you and your wealth. If these countries are severely limiting cash transactions, who’s to say your country isn’t next?
This is Orwellian reality at its finest. The big brother governments around the world have no capacity to stop their free-spending ways. In your household and mine, when income declines so do our expenses, but that’s not how governments work.
They want to continue to rob you of your wealth in every way they see fit – currency controls, increases in taxation, loose monetary policies, expansion of government programs…
This is nothing more than a ploy to control you and limit the movement of capital. Big brother is scared. He can’t stop spending, but he can make laws that restrict your ability to conduct business as usual.
Imagine a Russian tourist on vacation in Rome. He is there with his family for two weeks on holiday spending money at hotels, restaurants, bars and shops. Many Russians are accustomed to all-cash transactions. It would be very common for him to pay for his hotel bill after two weeks in cash. Unless he is treating his family to a student hostel holiday, he can easily have a hotel bill after two weeks that exceeds 1,000 euros.
Now, the hotel is in a position where they must only accept payment via credit card or wire transfer. My guess is the smaller hotels will continue to accept cash and will not report a cent to the government for income received.
Maybe they didn’t report before when paid in cash, but now you can guarantee they will never report – they don’t want to be held criminally responsible for accepting cash payments above the limits.
Each one of these countries has now criminalized cash transactions above their respective limits. They are grabbing at pennies now because they are completely broke and struggling to find new ways to steal from the sheeple.
History books will tell the story, but right now we are living through the unraveling of the paper money experiment known as ‘fiat’ money. It is doomed to fail and if you are paying attention you can see it happening every day. These recent news reports are clear evidence of this.
You need to seriously consider the consequences of what is happening around you and how it affects your wealth and your future. What are you doing to protect your assets and you financial future? Do you have an asset protection plan to ensure you and your family’s future?
