If just one little thing goes wrong, whether it's a court case, divorce settlement, political instability, government agency 'administrative error', or some noxious bureaucrat who's out to get you, all of those aspects of your life can be put at extreme risk.
The idea of 'planting flags', or diversifying internationally, involves spreading these aspects of your life across multiple jurisdictions and territories overseas. Banking in one place. Setting up a brokerage in another. Investing in another. Storing gold in another. Owning property in another.
You can do this with dozens, potentially hundreds of aspects of your life and/or business– using an offshore email account, obtaining medical treatment overseas, seeking personal companionship abroad, setting up an overseas credit card processor for a web business, initiating an IPO for your company on an overseas exchange, foreign health insurance, etc.