Between the “Panama papers” and the DC Madam’s customer list, we might be witnessing the end of personal (and corporate and government) privacy. The result? Less financial and geopolitical risk-taking and more gold buying. But don’t get burned by failing precious metal dealers. Here’s how to make sure you get what you pay for.
Things have been a little erratic lately here in US, but not really headline-worthy. The economy continues to grow, sort of, houses continue to sell and stock and bond prices fluctuate but can’t seem to follow through in either direction. We are not, in short, engulfed in any kind of crisis. But out in the […]
As everyone knows by now, Greece, Spain and the rest of the PIIGS countries can’t fix their economies because they can’t devalue. If they were still using their old national fiat currencies, so goes the conventional wisdom, they could just mark them down by 30% and instantly see their exports surge and their deficits shrink. […]
Not so long ago, one of first things a newly-rich person would do was move some money into a numbered Swiss account or Cayman trust, where it would be safe from spouse, creditors, and tax collectors. Maybe not the most ethical way to behave, but what the hell, you’re rich and you can get away […]
Two things are certain about moving money overseas: First, it’s necessary if you want to shield at least some of your savings from the capital controls, wealth taxes and confiscations that will (not might) be imposed by over-indebted governments in coming years. Second, there’s a whole ecosystem of predators waiting to exploit the first-time offshore […]
Offshore investing is one of those things that’s easy to do but hard to do well. Whip out a reasonably hefty checkbook and you’ll find lots of smooth operators ready to sell you a Latin American beachfront condo, Swiss bullion account or sure-thing Chinese stock, all wrapped up in an impressive-sounding trust or LLC. But […]
No matter where you live, it’s hard to escape the feeling that too many trends are moving in ominous directions. The U.S., besides running suicidal deficits, now wants to make investment income subject to Medicare taxes and convert 401(K)s to annuities, in effect nationalizing them. The Euro Zone is coming apart at the seams, as […]
It’s been fun over the past few years watching EuroPacfic Capital’s Peter Schiff educate mainstream (i.e. clueless) economists and money managers on CNBC and elsewhere. My personal favorite is this one from 2006, in which Schiff gets everything right and a pathetic little economist named Arthur Laffer makes a complete fool of himself. A couple […]