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IPFS News Link • Economic Theory

From Crisis To Confiscation--Where Do I Store My Wealth?

•, by Jeff Thomas

Although most of our readers thoroughly understand this concept, one of the most oft-heard concerns is that, by offshoring assets, one may not be able to get to them as easily as they now can. Here's the response to that, and some practical advice on what you can do to protect yourself.

Let's say you presently regard yourself as being economically diversified. You own stocks and bonds, you have some cash, you have a retirement fund and you have a bit of gold stuffed away at home. On the surface, it would seem that you're covered.

Trouble is, you have all your wealth in one jurisdiction, and should that jurisdiction find itself in an economic crisis, all that "diversification" will be seriously at risk.

Of course, it's human nature for us to want to keep our wealth close at hand. It feels more secure than having it miles away from us. We tend to follow this concept even though we're well aware that to have our wealth really close (i.e., on our person) we would be asking to have someone with a gun take it away.

Although we understand this, we somehow manage to convince ourselves that our own government, should they decide that they wish to get their hands on our wealth, is less of a threat to us than some thief. If we're being really truthful with ourselves, governments pose a greater threat than the average thief, as they can steal legally.