Russian, Ukrainian & FSU Information & Manosphere Discussion Forums
Information & Chat => Investment & Business Discussion => Topic started by: cufflinks on December 27, 2015, 10:40:31 AM
-
With a lot of major newsletters projecting a major market crash worse that 2008/09 in 2016 due to China economic growth slowdown, Euro Econo-immigrant Invasion, Euro PIIGS crashing, Oil crashing to below $35 USD per barrel indicating both lack of demand and a global carbon neutral alt energy growth long term, exploding 3rd world populations, Radical Islam spreading Sharia ideology worldwide and 7 years of liberal Social Justice Warrior "Gimmedat" Afro-Obamo economics with 45 Million Americans on food stamps, rampant opiods and heroin addiction in both the supplier and consumption societies and a stark election of more of the same liberal decline or a possible rebuilding of the USA... rumors of Cyprus like Bank Levies promoted by the IMF to pay off the G20 Nation's Debts... This is some interesting information from Nomad Capitalist:
Still the easiest place in the world to open a bank account
by Andrew Henderson | Flags
The easiest country to open a bank account offshore
Georgia could be “the next America”, but it’s definitely one of the easiest places in the world to bank
Dateline: Tbilisi, Georgia
I spent much of the flight from Kuala Lumpur to Istanbul reading a personal development a friend recommended to me. While I’m typically rather impatient when it comes to long tomes, I found this one fascinating.
The kind of book that you immediately want to recommend to everyone you know. That’s how powerful it was.
And for quite some time now, I’ve been talking about the same effect for planting flags in Georgia. I’ve apparently even gotten a reputation for being “the Georgia guy”; a friend of mine who is moving here told his friends, only to be told “you must follow that Andrew Henderson guy”.
I won’t re-hash how Georgia has quickly become highly capitalist and one of the most free economies in the world. Or how it’s one of my best countries in the world for business.
Nor will I re-hash how I went from not buying real estate here, to buying a property of my own, which is currently under construction.
Today, I want to talk about banking in Georgia.
While offshore banking around the world – from the Caribbean to Asia – has become more and more difficult, especially for US persons, Georgia is hands down the easiest place in the world to open a bank account today.
How easy is it to open an offshore bank account?
A lot of offshore banks around the world are facing big challenges right now. As high-tax jurisdictions continue their rampage against capital flight, countries like Belize have seen their international banking hubs severely impacted.
One bank there has already gone under.
It’s not that the banks themselves are always a problem – although some are – but that they are being tax havens in the backyard of the United States.
Occasionally, one of the less than professional bankers on some island allows a suspected terrorist to open an account there, and all hell breaks loose.
Meanwhile, jurisdictions like Hong Kong are burying many foreign depositors in paperwork as they strive to join the tax lovers at the OECD, and most banks have increased their standards. (My clients and I use one bank that is still easy to deal with, but it’s a small bank and hard to get in without an introduction.)
A jurisdiction like Georgia hasn’t seen such problems precisely because it’s not a tax haven, nor is it a large offshore financial center. It’s not even on the radar of the vast majority of people.
So, what is the easiest way to open an offshore bank account here?
Why Georgia is a “new safe haven”
Several of my in-the-know clients have told me they agree with my position on Georgia. I know several wealthy individual who bank here and get top-notch service by depositing as little as $50,000.
Service here reminds them of the “good old days” of private banking in countries like Hong Kong, where banks like href=”http://nomadcapitalist.com/2015/05/22/banking-with-hsbc-premier/”>HSBC have become impossible to deal with.
In fact, as I mention in my book The Best Offshore Banks, it’s possible to open a bank account in Georgia with as little as $7 (actually, $8.38 at today’s exchange rates).
The process at my favorite banks takes as little as ten minutes. If you’re a US citizen or have US indicia, you’ll be asked to fill out a few forms for the IRS, but that’s about it.
You don’t need piles of paperwork or anything like that. You basically just show up with the cash in your wallet, make a minimal deposit, and get started.
Once you’re in the door with a particular bank, opening additional bank accounts is quite easy. Georgian banks don’t offer remote account opening, but service once you’ve opened at least one account is good, and you can handle most account functions from home after you get set up.
In fact, online banking for the Georgian banks I deal with is refreshingly simple. Almost stupidly simple. For as much as I love banking in Singapore, banks there sure do give you a lot of codes, PINs, and access numbers to remember.
In Georgia, it’s simple. You can move money between Georgian lari, US dollars, and Euros in a single click. Exchange rate spreads at the bank are extremely small; if you’re making a really large deposit, you can get one-way spreads as little as 0.13% on the street.
That means it costs $1.30 to change $1,000 from USD to GEL. Dirt cheap.
How to open a bank account in Georgia
As I explain in The Best Offshore Banks, you don’t need a lot to get started banking in Georgia. Far and away the biggest challenge will be flying to Georgia to appear in person.
Once you’re there, the process is easy. There are so many banks here, and it’s the country’s business-friendly laws rather than one banks’ specific policy that makes the account opening process so easy.
That said, there are some banks I’d suggest avoiding. I have a friend who is on the board of directors of a mid-sized bank, and he told me that he’d feel comfortable depositing up to $10 million in his favorite two banks.
In the smaller banks, he would be more careful, avoiding a few banks entirely. He and I are both fully confident in the best banks to manage our cash wisely; you just need to do your homework and choose the best bank for you.
In addition to ease of opening, Georgia banks offer both ATM and debit Visa Electron cards that can be used anywhere in the world Visa is accepted. It’s also a great tool to have for booking travel online in Europe, as Electron cards incur lower transaction fees from cheap airlines.
While bank fees here are rather low, interest rates are quite high. We’ve discussed how 5% interest rates on short-term US dollar term deposits aren’t out of the norm, and if you’re willing to bet on the Georgian lari, you can earn even higher yields. (Be aware that the currency has dropped 25% since I was here last December.)
Opening an offshore bank account is an easy way to diversify your finances, and if you’re willing to get on a plane, I’d strongly consider Georgia for its ease of account opening and maintenance.
I might even be so bold to say that it’s the best place to go right now if you’re looking to deposit a mid-sized sum.
Banking, however, is just one of several flags I am planting in Georgia and recommend to you. Due to increased interest in bank accounts, companies, real estate, and investments in Georgia, I’m considering hosting a small mastermind event here next Spring to help clients who are interested in taking advantage of what I believe could be “the next America” or “next Singapore”.
If you’d be interested in working with me to plant flags and look at investments here in a small group setting, send me a message and let me know.
Nomad Capitalist helps successful people reduce their tax bill, earn higher investment returns, and become global citizens using strategies like offshore banking, second passports, and offshore companies. If you're a successful entrepreneur or investor, click the green button below to get our free Strategy Session and learn for free how to do these things.
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
-
In that vein of trust no one...
http://nomadcapitalist.com/2015/12/25/puerto-rico-investment/
Why 8 out of 10 people are wrong about investing in Puerto Rico
by Andrew Henderson | Investing
Is the hype around Puerto Rico investments justified?
Dateline: Warsaw, Poland
10 years ago Oprah invited her viewers to take off their shirts and examine their bodies.
It turned out that more than 8 in 10 women were wearing the wrong bra size.
You might be wondering what bra sizes and Oprah have anything to do with Nomad Capitalist and the topics that we cover.
Well, I’ll tell you.
I have also found that about 8 in 10 of people who are interested in offshore strategies misdiagnose the solution to their needs.
Every day I emails from people trying to get passports in parts of the world that they wouldn’t stand a chance of getting into, but are sure that their pre-determined countries are the best and only option for them. While I recommend Paraguay as an excellent option for a second residency, that advice only applies to some people. If you’re coming from South Asia, the Middle East or Africa, it’ll be much better for you look at a European country.
Another inquiry that I often get, due to experts on the web and in the mainstream media promoting it, is investments in Puerto Rico over more favorable offshore locations.
Even with Puerto Rico economic struggles and the fact that it’s a US territory, many people are still interested in investing in the debt-ridden commonwealth due to specific tax savings for living and investing there.
Puerto Rico’s Acts 20 and 22
Under two tax laws enacted in 2008, known as “Acts 20 and 22”, there are minimal to zero taxes on interest, dividends and capital gains in Puerto Rico for mainland US citizens and even emigrants to the US who grew up in Puerto Rico. Additionally, Act 22 offers a low, flat 4% corporate tax rate. To be able to qualify for these laws, you have to live in Puerto Rico at least 183 days out of one year.
The world took notice of these incentives when hedge fund billionaire John Paulson began investing in the island and dubbed it the “Singapore of the Caribbean”.
By the end of 2015, he will have invested $1.5 billion into real estate investments in Puerto Rico. In fact, hedge funds now own half of Puerto Rico’s $70 billion debt.
My own colleague, Peter Schiff, has taken the steps to move his own financial companies in Puerto Rico.
If you have your own multi-billion dollar hedge fund, Puerto Rico might be a good option (although I still think it’s worth looking at other options), but for most other purposes it won’t be.
Is Puerto Rico a good option for you?
Firstly, as I’ve pointed out before, it’s important to note that moving to Puerto Rico really isn’t an offshore strategy.
Rather than an alternative to sovereign nations like the Dominican Republic, Panama or Nicaragua, investing in Puerto Rico is more akin to incorporating in low tax states like Delaware, Wyoming or Nevada. While moving to one of those places might be relatively beneficial to your business as compared with tax heavy New York or California, you’re still not escaping the laws of the federal government.
The United States still governs Puerto Rico, and while the rules in the territory are favorable to businesses today, they can be changed at any point.
In fact the US government already has a history of going back on business incentives on the island.
Up until the 1990s, US companies had the ability to operate in Puerto Rico tax-free, when those initiatives were costing the US Treasury billions of dollars in taxes, Congress overwhelmingly repealed the legislation that made Puerto Rico’s tax status possible (ultimately leading to an economic crash). Democrat Charles Schumer and Republican Charles Grassley have already advocated ending Act 22 and the IRS has intensified investigations of American citizens who have relocated to Puerto Rico.
It hardly seems like the place to go for someone looking to avoid the reach of the US government.
In an analogous situation, the British government overthrew the government of Turks and Caicos, one of its overseas territories, in 2009 and added an 11% value added tax. In a sovereign country you won’t have to deal with this.
Finally, as these tax benefits are only open to US residents, Puerto Rican locals are getting the shaft (in fact their capital gains taxes are being raised). Even if Washington doesn’t end these benefits, expect the locals to get fed up sooner than later and vote in a party that will make a change.
Ultimately, and what’s most important, is that these tax breaks were never part of a sustainable long term growth plan like ones that countries like Singapore and Hong Kong have implemented, but rather a way to attract capital when the territory was in a financially desperate situation. Because of this, Puerto Rico should not be viewed as a long term, sustainable solution.
91% Tax on Wal-Mart
The most recent news to come out showing that Puerto Rico is a questionable option for business owners is that Wal-Mart, the island’s top private employer, is now suing the government of Puerto Rico over an increase in their import taxes (more than doubling the import fee for companies grossing over, which is a pretty narrow definition).
With this increase, 91% of Wal-Mart’s Puerto Rico profits will now be taken away, making it unprofitable to continue serving the island. The law was solely aimed at businesses earning over $2.75 billion a year, making it clear that they were targeting a very small category of businesses which Wal-Mart fit into.
For a place struggling with unemployment, targeting and almost driving out the largest employer in the territory smacks of desperation.
A desperate territory that’s part of a desperate country is not the best place to do business.
While Puerto Rico may make sense for the John Paulsons of the world, it really is a questionable option for anyone else. In fact, I’d say more than eight out of ten who want to relocate there would be doing so for the wrong reasons.
Moving your business and investments to an offshore location is something that pretty much everyone SHOULD do, but to move to the correct place for your needs, it’s best to enlist the help of experienced professionals.
-
See also http://nomadcapitalist.com/2015/09/16/how-to-prepare-taxes-bernie-sanders/
But now self-proclaimed Democratic socialist Bernie Sanders is a real contender for a presidential nomination, and the idea is worthy of some tax planning… just in case.
I recently read parts of a Forbes article that discussed tax planning for a potential Bernie Sanders presidency on my podcast.
Whether Bernie Sanders ascends to the presidency or not, the idea that a self-proclaimed socialist and wealth redistributionist could garner as much as 41% of votes in his own party is quite telling. Even if he doesn’t win, the table has been set for the next previously unelectable socialist to bring his tax-the-rich agenda to the table.
It’s not so far-fetched. The UK just elected a socialist government that aligns itself with anti-austerity Greece.
Jeremy Corbyn, the new face of British socialism, just slammed “grotesque levels of inequality” and an “unfair welfare system” as he prepares to help govern his country into an era of higher taxation.
Quite simply, folks who think their system is unfair will likely always think it is unfair until the wealthy are brought to their knees. Considering much of Europe is reverting back to a socialist model of wealth redistribution, here are a few ideas Americans should consider in case a socialist were to be elected President of the United States.
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
.........
6. Move to the third world country with your dollars.... :-X
Rationale: At least it will give you illusion that "Its pretty easy to survive any global crisis".
-
With all that uncertainty here is a new book I just purchased to get ahead of the curve in 2016 - one of several strategies...
High Income Retirement: How to Safely Earn 12% to 20% Income Streams on Your Savngs Kindle Edition
by Dr. David Eifrig Jr. (Author) Kindle $6.99
http://www.amazon.com/High-Income-Retirement-Safely-Streams-ebook/dp/B00J0F0RW2/
Here, published in one place for the first time, are the step-by-step details of the investing strategy Dr. David Eifrig used to compile his unprecedented track record of profitable trading recommendations. In High Income Retirement, he details how stock options work and how to use them to reduce risk. He also debunks the most common misperceptions of stock options and explains why most people misuse them. Finally, Dr. Eifrig walks readers through step-by-step instructions in how to make his safe, profitable trades.
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
.........
6. Move to the third world country with your dollars.... :-X
Rationale: At least it will give you illusion that "Its pretty easy to survive any global crisis".
LOL See FSU Georgia banking above... and a radical strategy if the Socialists try to tax business in the USA at 100% + Taxes
http://nomadcapitalist.com/2015/11/16/renounce-fee-relinquish-us-citizenship/
Not that Feel the Bern in your wallet will be much worse than the Saul Alinsky "Ruled by Radicals" Social Justice Warrior Obamination:
https://www.atr.org/full-list-ACA-tax-hikes-a6996
If you dare operate an LLC in the USA:
38.5% Obama federal FICA Tax
03.5% Alt Min Tax
03.8% Investments Surcharge Tax
02.9% Medicare Surtax Self Employed
16.0% Self Employed Social Security Taxes
05.0% Gasoline, Electricity,Telecom, Cable & Internet taxes
05.0% Local Property Taxes
10.0% Local/State Business Profits Income and Business Enterprise Taxes
10.0% Regulatory Burden Federal, State, Local OSHA EPA IRS Health and Bldg inspectors etc etc.
10.0% Workmen's Comp
16.0% Obamascare medical taxes $16K for an average family of 4 plus $5K DEDUCTIBLE - This is not health insurance its a blatant shakedown for the health and drugs lobbyists...
125.7% Taxes, Fees, insurances and Regulatory Burdens - no wonder every business that can is moving offshore at an accelerated rate under the Obamacommune Marxist Socialists Feminist LGBTQ agenda Saul Alinsky rules by radicals.
Bernie Sanders might actually be reasonable by comparison to Obama and his African National Congress Communists.
-
Well so with all that uncertainty here is a new book I just purchased to get ahead of the curve in 2016 - one of several strategies...
High Income Retirement: How to Safely Earn 12% to 20% Income Streams on Your Savngs Kindle Edition
by Dr. David Eifrig Jr. (Author) Kindle $6.99
http://www.amazon.com/High-Income-Retirement-Safely-Streams-ebook/dp/B00J0F0RW2/
Here, published in one place for the first time, are the step-by-step details of the investing strategy Dr. David Eifrig used to compile his unprecedented track record of profitable trading recommendations. In High Income Retirement, he details how stock options work and how to use them to reduce risk. He also debunks the most common misperceptions of stock options and explains why most people misuse them. Finally, Dr. Eifrig walks readers through step-by-step instructions in how to make his safe, profitable trades.
Out of interest what sort of savings are you talking about? :chuckle:
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
.........
6. Move to the third world country with your dollars.... :-X
Rationale: At least it will give you illusion that "Its pretty easy to survive any global crisis".
LOL See FSU Georgia banking above...
Egypt would be cheaper, but there no Mercedes taxis..... :ROFL:
Maxx is retired. He deserves to travel and see the world.
What about a young man in Moscow?..
OK. I developed another rule how pretty easy to survive any global crisis in Russia:
......
7. Pretend that you have plenty of dollars.
Recommendation: Work in case if you have strong American accent. The stronger accent, the easier global crisis....
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
Not a new idea: https://en.wikipedia.org/wiki/Perpetual_traveler
-
Bernie Sanders might actually be reasonable by comparison to Obama and his African National Congress Communists.
Sanders' recent tweet about interest rates on home loans vs. student loans demonstrated that he has little understanding of the free market economy; in 70+ years of living in America he evidently never learned that home loans are backed by collateral; student loans are not.
He's basically a liberal NYer who grew up poor and hated it, and thinks he's entitled to other people's money to not be poor, instead of earning it himself. Same-old, Same-old.
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
Not a new idea: https://en.wikipedia.org/wiki/Perpetual_traveler
Not being available for Jury service is the only downer I see there ;D
-
Well so with all that uncertainty here is a new book I just purchased to get ahead of the curve in 2016 - one of several strategies...
High Income Retirement: How to Safely Earn 12% to 20% Income Streams on Your Savngs Kindle Edition
by Dr. David Eifrig Jr. (Author) Kindle $6.99
http://www.amazon.com/High-Income-Retirement-Safely-Streams-ebook/dp/B00J0F0RW2/
Here, published in one place for the first time, are the step-by-step details of the investing strategy Dr. David Eifrig used to compile his unprecedented track record of profitable trading recommendations. In High Income Retirement, he details how stock options work and how to use them to reduce risk. He also debunks the most common misperceptions of stock options and explains why most people misuse them. Finally, Dr. Eifrig walks readers through step-by-step instructions in how to make his safe, profitable trades.
Out of interest what sort of savings are you talking about? :chuckle:
LOL Still reading the book... - the live Retirement Trader subscription service that walks you through specific trading picks is in the thousands...
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
.........
6. Move to the third world country with your dollars.... :-X
Rationale: At least it will give you illusion that "Its pretty easy to survive any global crisis".
LOL See FSU Georgia banking above... and a radical strategy if the Socialists try to tax business in the USA at 100% + Taxes
http://nomadcapitalist.com/2015/11/16/renounce-fee-relinquish-us-citizenship/
Not that Feel the Bern in your wallet will be much worse than the Saul Alinsky "Ruled by Radicals" Social Justice Warrior Obamination:
https://www.atr.org/full-list-ACA-tax-hikes-a6996
If you dare operate an LLC in the USA:
38.5% Obama federal FICA Tax
03.5% Alt Min Tax
03.8% Investments Surcharge Tax
02.9% Medicare Surtax Self Employed
16.0% Self Employed Social Security Taxes
05.0% Gasoline, Electricity,Telecom, Cable & Internet taxes
05.0% Local Property Taxes
10.0% Local/State Business Profits Income and Business Enterprise Taxes
10.0% Regulatory Burden Federal, State, Local OSHA EPA IRS Health and Bldg inspectors etc etc.
10.0% Workmen's Comp
05.0% OOOOPS Forgot Unemployment Insurance Tax
16.0% Obamascare medical taxes $16K for an average family of 4 plus $5K DEDUCTIBLE - This is not health insurance its a blatant shakedown for the health and drugs lobbyists...
125.7% Taxes, Fees, insurances and Regulatory Burdens - no wonder every business that can is moving offshore at an accelerated rate under the Obamacommune Marxist Socialists Feminist LGBTQ agenda Saul Alinsky Ruled by Radicals...
Bernie Sanders might actually be reasonable by comparison to Obama and his African National Congress Communists.
Full List of Obama Tax Hikes
https://www.atr.org/full-list-ACA-tax-hikes-a6996
-
Well so with all that uncertainty here is a new book I just purchased to get ahead of the curve in 2016 - one of several strategies...
High Income Retirement: How to Safely Earn 12% to 20% Income Streams on Your Savngs Kindle Edition
by Dr. David Eifrig Jr. (Author) Kindle $6.99
http://www.amazon.com/High-Income-Retirement-Safely-Streams-ebook/dp/B00J0F0RW2/
Here, published in one place for the first time, are the step-by-step details of the investing strategy Dr. David Eifrig used to compile his unprecedented track record of profitable trading recommendations. In High Income Retirement, he details how stock options work and how to use them to reduce risk. He also debunks the most common misperceptions of stock options and explains why most people misuse them. Finally, Dr. Eifrig walks readers through step-by-step instructions in how to make his safe, profitable trades.
Out of interest what sort of savings are you talking about? :chuckle:
LOL Still reading the book... - the live Retirement Trader subscription service that walks you through specific trading picks is in the thousands...
You don't want to read any of those books! The authors don't give a fig other than selling you the book! I would put any of those books in the same bracket as a dating site scammer :chuckle:
-
Well so with all that uncertainty here is a new book I just purchased to get ahead of the curve in 2016 - one of several strategies...
High Income Retirement: How to Safely Earn 12% to 20% Income Streams on Your Savngs Kindle Edition
by Dr. David Eifrig Jr. (Author) Kindle $6.99
http://www.amazon.com/High-Income-Retirement-Safely-Streams-ebook/dp/B00J0F0RW2/
Here, published in one place for the first time, are the step-by-step details of the investing strategy Dr. David Eifrig used to compile his unprecedented track record of profitable trading recommendations. In High Income Retirement, he details how stock options work and how to use them to reduce risk. He also debunks the most common misperceptions of stock options and explains why most people misuse them. Finally, Dr. Eifrig walks readers through step-by-step instructions in how to make his safe, profitable trades.
Out of interest what sort of savings are you talking about? :chuckle:
LOL Still reading the book... - the live Retirement Trader subscription service that walks you through specific trading picks is in the thousands...
You don't want to read any of those books! The authors don't give a fig other than selling you the book! I would put any of those books in the same bracket as a dating site scammer :chuckle:
Good Idea never read a book or newsletter and just remain IGNORANT works for me... :'( :knit: :drunk:
-
Well so with all that uncertainty here is a new book I just purchased to get ahead of the curve in 2016 - one of several strategies...
High Income Retirement: How to Safely Earn 12% to 20% Income Streams on Your Savngs Kindle Edition
by Dr. David Eifrig Jr. (Author) Kindle $6.99
http://www.amazon.com/High-Income-Retirement-Safely-Streams-ebook/dp/B00J0F0RW2/
Here, published in one place for the first time, are the step-by-step details of the investing strategy Dr. David Eifrig used to compile his unprecedented track record of profitable trading recommendations. In High Income Retirement, he details how stock options work and how to use them to reduce risk. He also debunks the most common misperceptions of stock options and explains why most people misuse them. Finally, Dr. Eifrig walks readers through step-by-step instructions in how to make his safe, profitable trades.
Out of interest what sort of savings are you talking about? :chuckle:
LOL Still reading the book... - the live Retirement Trader subscription service that walks you through specific trading picks is in the thousands...
You don't want to read any of those books! The authors don't give a fig other than selling you the book! I would put any of those books in the same bracket as a dating site scammer :chuckle:
Good Idea never read a book or newsletter and just remain IGNORANT works for me... :'( :knit: :drunk:
One of the most important things in life is successful time management every hour counts. I would never waste hours reading a book unless it was important. Use your time wisely is what I always say.. Its a pity we have to sleep isn't it :chuckle:
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
Not a new idea: https://en.wikipedia.org/wiki/Perpetual_traveler
To be a perpetual traveller you have to be rich and without ties, such as the need to manage a business or have a family in your country of citizenship. Something few have the ability to achieve.
-
Westcoast, your carers have been reading the wrong webpages for you.
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
Not a new idea: https://en.wikipedia.org/wiki/Perpetual_traveler
To be a perpetual traveller you have to be rich and without ties, such as the need to manage a business or have a family in your country of citizenship. Something few have the ability to achieve.
I don't think you have to be rich!
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
Not a new idea: https://en.wikipedia.org/wiki/Perpetual_traveler
To be a perpetual traveller you have to be rich and without ties, such as the need to manage a business or have a family in your country of citizenship. Something few have the ability to achieve.
I don't think you have to be rich!
How would you support yourself? Pay for the next airplane flight across the Atlantic or Pacific? With no legal right to work where would your income come from?
Even if you're working illegally it takes time to find an illegal job and save up enough money to travel to the next country. Unless you're working for long periods of time such as years in each country before moving to the next country you're going to have trouble saving up enough money to support yourself and to move on to the next country.
How likely is it that you could work illegally in each country you visited without getting caught and jailed and/or deported?
-
Its pretty easy to survive any global crisis.
1. Hold on to your cash , don't trust a soul with it under no circumstances.
2. Live in a country where you can live under the radar or move from country to country.
3. Invest only in bricks and mortar and nothing else.
4. Do not become part of the system.
5. Trust NOBODY.
:smokin:
Not a new idea: https://en.wikipedia.org/wiki/Perpetual_traveler
To be a perpetual traveller you have to be rich and without ties, such as the need to manage a business or have a family in your country of citizenship. Something few have the ability to achieve.
I don't think you have to be rich!
How would you support yourself? Pay for the next airplane flight across the Atlantic or Pacific? With no legal right to work where would your income come from?
Even if you're working illegally it takes time to find an illegal job and save up enough money to travel to the next country. Unless you're working for long periods of time such as years in each country before moving to the next country you're going to have trouble saving up enough money to support yourself and to move on to the next country.
How likely is it that you could work illegally in each country you visited without getting caught and jailed and/or deported?
:Zzzzsleep:
-
The man really doesn't get it does he? :dh:
-
The man really doesn't get it does he? :dh:
A man I work with was a perpetual traveler until he grew tired of it.
He travelled without being rich, with no ties to anywhere.
He lived on a large sea-trawler hauling stuff to all continents of the world.
Then he settled down in NL and started his career & family here.
(and this is just 1 example of how its done as steve suggests, without being rich)
-
I would of thought the idea for some would be to use the Perpetual traveler scenario as a way to become wealthy and gain lots of nice assets along the way dotted all over the place. When the job is done its time settle down to a little normality and maybe even paying some taxes ;D
-
Mark, Westcoast is a great example of one who can accumulate a few 'info-chunks' and yet learn nothing because they do not have open mind or eyes.
Traveling across Europe last week I was stopped on the Lithuania/Poland border and had to do the full ID rigmarole, unusually though this was as I left the country! Bloke asked me if I spoke Russian, I replied in Russian. I think my response told him all he needed to know about my identity. At some point whether rich or poor freedom of movement is likely to be reduced.
-
The Fed’s “Doomsday Device” Is About to Explode
BY BILL BONNER, CHAIRMAN, BONNER & PARTNERS - BALTIMORE
Another down day for the Dow last Friday left it in the red for the week.
Barron’s, in a lather, says it is facing the “Two Horsemen of the Apocalypse.”
Huh?
Supposedly, the so-called Brexit – the vote in Britain this Thursday on whether to leave or remain in the European Union (EU) – and uncertainty over where the Fed will take U.S. interest rates are cutting down stocks faster than a Z-turn mower.
Doomsday Device
But Brexit is a side show.
As our contacts in London explained in last week’s issue of Bonner & Partners Inner Circle, Britain will do just fine outside of the EU. It will even thrive. [Inner Circle members can catch up here.]
As for the Fed’s fumbling, it is a consequence, not a cause, of falling stock prices.
The real threat to this market is more basic… more dangerous… and completely unavoidable. It is a “doomsday device” – hidden in plain view – in the feds’ fiat money system.
It took us a long time to understand how this works. For many years, we referred to the Fed’s EZ money policies as “printing money.” Finally, we realized that this metaphoric description of the Fed’s role probably hides more than it reveals.
The Fed is not printing money. If it were printing money, we’d have more money around… and higher consumer prices.
Instead, when the feds went to a “paper” money system in 1971, they did it very cleverly.
Yes, their new system is totally fraudulent and absolutely ruinous – just like an old fashioned money-printing scheme. But the fraud takes much longer to uncover… and the ruin is only obvious at the end.
It is a “bezzle”… where you only become aware that you’ve been had when it blows up.
Unlimited Credit
Here’s the deal…
Instead of printing money itself, the Fed allows banks to create an almost unlimited amount of credit (providing they meet certain capital requirements).
Contrary to popular belief, banks don’t act as “warehouses” – taking in deposits and then lending them out again. Instead, banks create new deposits (aka money) when they make a loan.
All it takes is a few strokes on a keyboard, and account balances – along with the money supply – go up.
At first, this new credit-money acts much like printing-press money: It gives people money to spend that nobody ever earned. Everybody is happy.
But if you keep on creating more and more paper money, the fraud is soon obvious. Prices rise. People realize that they have no more purchasing power than they had before.
In the meantime, businesses and consumers have all made bad decisions, based on the apparent increase in “demand.”
After a while, all those mistakes have to be flushed out… in a recession or a depression.
Problem Postponed
By setting up this credit-money system, on the other hand, the feds avoided that problem… or at least, postponed it.
Between 1980 and 2016, for example, Americans spent $32 trillion in net, excess credit. That’s credit (and debt) above and beyond the historic relationship between GDP and debt.
That, too, would have increased consumer prices dramatically, but the Japanese… and then the Chinese… were busily making things much more cheaply.
This offset consumer price increases. And more important, much of the increase in credit-money went directly into Wall Street, instead of the Main Street, economy.
In a credit-money system, the sectors of the economy that are most creditworthy get most of the new money.
Who’s most creditworthy?
The rich. Big business. Government.
Prices soared, all right. But they were the kinds of prices people wanted to go up. Houses… businesses… commercial real estate… collectibles – talk about inflation; these things went through the roof.
Everything that can be financialized – priced and traded – became incredibly expensive. But the price of labor went nowhere.
The Rich Get Richer
Almost unbelievably, according to the Pew Research Center, today’s average hourly wage has roughly the same buying power as it did in 1973 – more than 40 years ago.
The system hasn’t done much for the common man, but it has helped the rich get richer. And now we know that the Deep State controls the U.S. government (and indirectly, the Fed and the financial system). So nobody really cares about the voters anyway.
What a system!
The banks are allowed to create money. They lend it to consumers until the household sector can’t take anymore. (This is what happened in 2008). Then they lend to corporations and the government.
One by one, each sector takes on too much debt and ceases to be creditworthy. Finally, only government can borrow… because it is the only sector that can print money!
We’re approaching that already in Japan, where the central bank buys about 100% of new Japanese government debt issuance.
Recession Warning
If the feds had handed out paper money, prices would have gone up. But even in a recession, or a debt deflation, the cash would still be there. Printing-press money raises prices, permanently.
But a credit-money system is very different. Every new dollar that comes into the system is also another dollar of debt.
Now, American consumers, businesses, and government all drag behind them about $60 trillion in debt. It slows them down. It depresses economic growth. And most important, it is subject to the credit cycle… and to the “doomsday device” built into system.
A recession is coming in the U.S.
If it hasn’t already begun, it will probably set in within six months. When that happens, stock prices will fall.
This will have a similar effect as the 2008 crisis… when houses plunged. Ultimately, a company’s earnings potential and stock market equity provide the collateral for its debt. When the stock market falls, lenders disappear.
Then, the debt market tightens and the doomsday device explodes.
Debt is just the flip side of credit. As debt goes bad, credit disappears. And then the system that created so much credit-money will go into reverse, destroying the nation’s money supply.
The money supply (actually, the supply of ready credit) will shrink – suddenly and dramatically. And what should have been a minor, routine pullback in the economy will become a catastrophic panic.
Don’t go away!
Regards,
Signature
Bill
-
There is an easy answer to that.. even a child could figure it out ;D
Don't take credit, don't take loans don't use any form of credit what soever.. If you want some thing work hard and buy it for cash..
No credit No finance No Global Chaos :thumbsup:
-
On a more positive note - Hard to find positivity with warned Fed Disasters and luminaries like Peter Schiff warning one should be out of US securities and out of US cash and instead in select international Stocks and Gold, Silver and Commodities currencies; OZ, Singapore, NZ, Norway, even Canada essentially Everbank Commodity Currency baskets insured CDs anything but the US Dollar and closely affiliated currencies like the pegged Red Chinese Yuan/Renminbi.
100 BAGGERS:
Sat in on the Agora Publishing seminar with Bill Bonner, Porter Stansberry and Chris Myers "CODE" methodology last night. Of course, they were upselling their new private Investment advisory at 2 years for the price of one if you ordered last night - honestly a bit pricey but some useful take aways:
Two full years of Bonner Private Portfolio for less than the cost of a single year. ($2,200.00 for 2 years ... pricey.
Special Report: The CODE Deciphered: The Secret to Making Four Times Your Money in Any Market ... useful
C - Stocks that are cheap with hidden value example Alexander and Baldwin Shipping controls the majority of land on Maui in the State of Hawaii - Chris and researchers actually went through the Maui Registry of Deeds to verify the extensive land Ownership by A&B - irony is yes they own the land but only have it on their books at $20M Book Value acquired back in 1860 - land now worth multiple Billions.
O - Stocks where the Owner/Managers have skin in the game especially when they earn income based upon increasing shareholder value long term instead of financial engineering - using 0% debt to buy back stocks to drive up market valuations due to stock scarcity - debt that could crush many businesses in a correction or interest rates normalization.
D - Disclosure - if you can not understand the language in the Annual Corporate Reports or SEC quarterly filings - run do not walk to the EXITS example Valeant Pharma crash chart. When they can't actually dazzle you with their brilliance they just try to baffle you with bullshite.
E - Excellent balance Sheets and judicious use of debt if any - no viable company ever when bankrupt that had NO debt.
A FREE hardcover copy of Chris’s latest book: 100 Baggers...
Amazon Link:
100 Baggers: Stocks That Return 100-to-1 and How To Find Them Hardcover – September 1, 2015
by Christopher W. Mayer (Author)
https://www.amazon.com/100-Baggers-Stock...1_fkmr0_1?
Free PDF download I found on basic Google Search:
http://www.mayers100x.com/100Baggers.pdf
Peter Lynch in his famous "One Up on Wall Street" was famous for saying that 2, 3, 4 and even 10 baggers are great but nothing is as life changing as 100 baggers and the PDF above indicates that there are a lot more of them than people realize.
Some useful summer reading that can in fact change your life - enjoy and thank me later.
This book is about 100-baggers. These are stocks that return $100 for every $1 invested. That means a $10,000 investment turns into $1 million. Chris Mayer can help you find them.
It sounds like an outrageous quest with a wildly improbable chance of success. But when Mayer studied 100-baggers of the past, definite patterns emerged.
In 100-Baggers, you will learn the key characteristics of 100-baggers why anybody can do this.
It is truly an everyman s approach. You don t need an MBA or a finance degree. Some basic financial concepts are all you need a number of crutches or techniques that can help you get more out of your stocks and investing.
The emphasis is always on the practical, so there are many stories and anecdotes to help illustrate important points.
You should read this book if you want to get more out of your stocks. Even if you never get a 100-bagger, this book will help you turn up big winners and keep you away from losers and sleepy stocks that go nowhere.
After reading 100-Baggers, you will never look at investing the same way again. It will energize and excite you about what's possible.
-
There is an easy answer to that.. even a child could figure it out ;D
Don't take credit, don't take loans don't use any form of credit what soever.. If you want some thing work hard and buy it for cash..
No credit No finance No Global Chaos :thumbsup:
Typical nonsense from our resident genius SB - try to fly around anywhere on the globe without swiping a Credit or Debit card to verify Identity along with a Passport. Especially on domestic flights. Or buying a home and enjoying equity leverage without a mortgage. Nor conduct international trade without letters of credit or Corporate Credit cards and or credit lines.
Living without credit might work in the woodlands of the Altai or Siberian wilderness but not in any modern city.
-
There is an easy answer to that.. even a child could figure it out ;D
Don't take credit, don't take loans don't use any form of credit what soever.. If you want some thing work hard and buy it for cash..
No credit No finance No Global Chaos :thumbsup:
Typical nonsense from our resident genius SB - try to fly around anywhere on the globe without swiping a Credit or Debit card to verify Identity along with a Passport. Especially on domestic flights. Or buying a home and enjoying equity leverage without a mortgage. Nor conduct international trade without letters of credit or Corporate Credit cards and or credit lines.
Living without credit might work in the woodlands of the Altai or Siberian wilderness but not in any modern city.
Bullshit!! I have friends and family who never took any credit and no credit cards some have assets over £10million!
Well you seem to have all the latest news and that on surviving the global crises , you seem to know all about stocks and bonds and all that??
I would presume your a very wealthy individual with vast assets/property and the likes??
Would I be correct there ? Or not?
Just asking cos from my experience the worst people on the planet besides estate agents are financial advisors?
Most are happy to invest other peoples cash , talk the bull BUT do you know many financial advisors who are seriously wealthy?
I dont! But then I'm just a village Bumpkin :chuckle:
-
I would suggest you travel down to the woodlands in Dorset , UK there are plenty of folk there with out a credit or any credit, they probably wouldn't even know what Credit is!!
There are plenty of folk there walking about with second hand clothes and holes in their socks :laugh:
And plenty of them will have over £10 million in assets.. Hows that done then clever clogs?
-
There is an easy answer to that.. even a child could figure it out ;D
Don't take credit, don't take loans don't use any form of credit what soever.. If you want some thing work hard and buy it for cash..
No credit No finance No Global Chaos :thumbsup:
Typical nonsense from our resident genius SB - try to fly around anywhere on the globe without swiping a Credit or Debit card to verify Identity along with a Passport. Especially on domestic flights. Or buying a home and enjoying equity leverage without a mortgage. Nor conduct international trade without letters of credit or Corporate Credit cards and or credit lines.
Living without credit might work in the woodlands of the Altai or Siberian wilderness but not in any modern city.
Debit cards are classed as credit cards?
Christ, it is really backwards in the states, isn't it?
If I want to fly around the world I can go into various travel agencies here in civilisation and pay slap dash or on my debit card.
Sure, I've got credit in the form of a mortgage but not everyone 'lives' on credit like you do in the states with such pride.
-
There is an easy answer to that.. even a child could figure it out ;D
Don't take credit, don't take loans don't use any form of credit what soever.. If you want some thing work hard and buy it for cash..
No credit No finance No Global Chaos :thumbsup:
Typical nonsense from our resident genius SB - try to fly around anywhere on the globe without swiping a Credit or Debit card to verify Identity along with a Passport. Especially on domestic flights. Or buying a home and enjoying equity leverage without a mortgage. Nor conduct international trade without letters of credit or Corporate Credit cards and or credit lines.
Living without credit might work in the woodlands of the Altai or Siberian wilderness but not in any modern city.
Debit cards are classed as credit cards?
Christ, it is really backwards in the states, isn't it?
If I want to fly around the world I can go into various travel agencies here in civilisation and pay slap dash or on my debit card.
Sure, I've got credit in the form of a mortgage but not everyone 'lives' on credit like you do in the states with such pride.
:thumbsup:
Nothing is worse than people who use fancy words like equity leverage without a mortgage If some guy come round my place using any bullshit words like that I would say "Get the ***** out of my place" If your talking about buying a house without a loan , yes its not easy!! life is not easy, but you don't let that put you off. I have no plans to ever have a loan on any property , very easy just buy lots of small ones cheap in another country and sit on them.
Its like being a window cleaner and calling yourself a "Glass technician" Financial advisors/whizz kids same shit.
-
In some ways the USA is genuinely backward. Only just now are they getting to grips with chip & pin plastic transactions. They still use cheques for God's sake. Try getting forex services in a US bank...
-
Try getting forex services in a US bank...
Is there an actual need for Forex in the states?
-
Of course there is, but, if you mean that the need is less, then yes. The need is less. But then I'd be surprised if there was any bank in the UK that didn't offer forex - but they can be a mite tardy from time to time if you want cash in hand.
-
In some ways the USA is genuinely backward. Only just now are they getting to grips with chip & pin plastic transactions. They still use cheques for God's sake. Try getting forex services in a US bank...
:ROFL:
With regards to backward this is almost a compliment. Part of the problem a majority of American's are not aware that there are other currencies on the orb called earth.
We can thank a few hacks (Target) for chips. Perhaps some one will come up with an evil America theory but the reality is with chip cards there are competing services. In short it means a Bank of America card will in Europe work with one merchant and card from say TD will not. The flip side is a bank such as ABN has one CC that will work and another bank say Raffiesen that will not work in America.
In the end it is the client who is frustrated by this.
-
Bump...
All the 2016 Doom and Gloom regarding a USA Financial Bust, Credit Bust, Repeat of 2008/09 Crisis has not come to pass, yet there are a lot of folks getting ready to retire looking to move out of peak stocks and hold cash in case the SHTF... or a 2008/09 Redux.
I have been working on a knowledge engineering project for over a year with one of the worlds most successful institutional Traders with a diversified Global focus. He mentioned on our Friday EOW Review that Most of the major market players have been shorting heavily since the S&P Tagged 2900/2950 - for various reasons that have to do with Trump's 2020 reelection prospects the S&P Tagged 2949.52 $SPX and 2951.50 ESM2019 June E-Mini Futures.
Previous All Time Highs were $SPX 2940.91 on 21 Sept 18 - informed the Plunge Protection Team was activated on Christmas Eve 2018 "Correction" and been active since then until yesterdays double TOP of the S&P 500 SPC "Cash" and Emini Futures markets. Both of which Trade Worldwide E-Minis on Globex 24/7.
So Peter Schiff, Jim Rickards and Agora's/Bill Bonner et.al. were just as clueless about the Trump 2016 win market boom and have stayed clueless regarding yesterday's ATH yet all are screaming doom and gloom louder than ever... yesterday's 2950 Swing High can still run above 3,000-3050 before an anticipated trading technical correction...
https://www.barchart.com/stocks/quotes/$SPX/interactive-chart
In 2016 the BTC Crypto Raging Bull and Roaring Bear runs had just begun to form and fascinating interview regarding some of the biggest characters in the BTC World USDT Tether and Bitfinex... NYAG providing clarity through subpoenas and a just-released 26-page NYAG report... Tyler Jenks Hyperwave deep dive... quite interesting analysis by a 40 Year Pro Money Manager:
Hyperwave - Bitcoin !! New York AG Turns Over A Rock!!
Since many have looked to Gold and BTC as physical and digital stores of wealth this Video Review is a real eye-opener - take away: avoid trading in and out USDT and Bitfinex in General though still quite popular in HK/SEA.
Per the Hyperwave team, BTC must finish the "7th" phase to $1K USD before the next BTC bull run begins - which will probably shake out a lot of dodgy crypto players in the meantime.
-
Sorry AvHdB, Cards in the civilized world are backward compatible and so can be used on less secure terminals and imprint machines. Of course, some issuers take precautions and, much like we used to do in, for example, Ukraine and Russia a couple of decades ago, we would inform our card issuing bank of our planned travels so, perhaps we will have to do the same when leaving civilization.
What you have in Backwardistan is the worst of all worlds. No requirement for signature from card issuers and no pin to support the ubiquitous chipped cards. Over here in the civilized world, if I lose my card I am not very worried. I might go online and freeze it until I find it, I might order a new one, but there's no need to inconveniently cancel it because it can't be used for purchases without the PIN. And, before you mention it, even if it gets used online, then whoever stole the card needs to know the address at which the card is based and even if that hurdle is surmounted then the validation process used when unusual purchases start happening kick in to cut the thief out of the purchase.
On a related note, I had a problem with the PIN on two of my cards today, I don't know if the terminal was borked or I somehow forgot two PINs but I input the wrong PIN 3 times on one card and once on a second on one terminal. I did not retry the second card. :) Very odd indeed.
On my return home I logged onto one of the card apps on my phone and discovered that the one that was 'incorrectly' entered three times automatically resets after midnight. No card getting eaten or retained, very handy. The other will just be reset next time I use it somewhere else. A big improvemnt on the old system.
-
60 Minutes Report regarding a Russian Hacker who conservatively hacked over $100M in the USA and More in Europa, Africa, The Americas and Asia... living the high life on some obscure RU Black Sea resort... had to rely on an informant to find out who he is - technically brilliant though diabolical... curious if the Russian Gov angle is providing cover to their hacker networks as an arms length form of plausible deniability or more MSM Russia smears?
https://www.cbs.com/shows/60_minutes/video/CPAiZpiTp1pYGtA9pBamsrdGu1Ff9F2o/how-the-u-s-caught-on-to-hacker-bogachev/
Full video:
https://www.cbs.com/shows/60_minutes/video/ZKFgCd9iFmUAioviXdp3xaU_MGTVJHkL/a-marriage-made-in-hell-superbugs-easter-island/