Hi Guys its Barry in DR. Recently I received an email from Sovereign “Man Notes from the field.” Anyone can sign up to this and it just might be worthwhile for you to do so. Good information and a healthy appetite should go hand in hand. Similar to DR Escapes the Sovereign Man site pitches the importance of having yourself and your portfolio diversified in several methods and in various locations. I couldn’t agree more and that’s why I’ve lived in this fashion since the mid-eighties.
Those of you who’ve followed the site for any length of time have read many times over me stressing the importance of moving a healthy part of your portfolio out of the western nations and plunking it down in other more secure nations, preferably into hard assets. At DR escapes our driving force is keeping you up to date with the most recent information which may affect you, your savings and your freedom. I’ve mentioned this to all DR escapes members several times that you have to be crazy to be keeping either an IRA or 401k these days.
Folks when Governments are insolvent… broke so there’s no misunderstanding here they come and seize whatever is needed to: Fuel the Machine. Not so long ago in a previous post I referred to the following: You are the fuel that’s running the machine and It doesn’t matter if you’re regular, premium or diesel you’re gonna get burned! Well this following information is exactly what I was referring about.
Retirement and pension accounts will (in my opinion) be the first to be frozen, locked out of reach with just a couple of mouse clicks and now that may have just become much closer than you realize. Credit goes out to Simon Black as the following is from his latest Sovereign Man notes from the field dated August 8th 2013.
“I recently received some disturbing news that I felt critical to pass on to you. As we’ve been writing for over four years now, it’s long been a common approach for government sliding into insolvency to confiscate wealth from their own citizens.” The article continues on with the following. “As we’ve explored in recent letters, the Fed’s capital ratio (a significant measure of it’s financial health) is at a laughably small 1.53%.” That’s correct a simple 2% shift and it’s done.
Now here in the next set of quotations is where you better start making your mind up fast. But first I need to get this off my chest. It’s approaching the realm of redundancy trying to reason with a semi brainwashed thought pattern that has been trained by the very same media’s owned by the very same people who are going to rob you blinder than they already have been for decades.
You’ve been trained to avoid any and all tax hits period. That’s why you have accountants looking for every loop hole possible. A loop hole can very quickly turn into a noose if you’re not careful… this is no ordinary hard economic time we’re facing here. This is being done purely by design make no mistake about that.
Tax accountants are number crunchers and generally not very TRENDS savvy. Left sided thinkers and I say this with no insult meant at all. The world needs both left and right side thought patterns for it to progress. Now I ask you this. What good is saving a one-time hit that if you even bothered to do the net figuring would not be as bad as your thinking…as compared to having everything locked in bonds or T bills drawing 3.5 if you’re lucky.
Yep the good ole Government is going to come to the rescue since your 401 or IRA hasn’t been doing so great over the past few years. You gotta love the ideas these guys come up with…really… pay some serious thought to what’s just been said it could make a huge difference in the not to distant future.
O.K. let’s continue with some more key points in the Sovereign man article. Simon Black continues with the following. “One of the best solutions over the past few years, particularly for IRA account holders, was to set up a special type of self-directed IRA.” Now Simon Continues with what some are not going to want to hear. “So here’s the disturbing news… and it’s something you won’t hear about anywhere else.”
“One of the attorneys that I work with routinely has specialized in setting up these types of structures. He’s an accomplished tax professional with decades of experience under his belt, and he recently told me that the IRS is no longer ‘allowing’ this type of structure.”
“More specifically, the IRS is refusing to issue tax ID numbers for single-member LLCs that are owned by an IRA… which is the specific structure that US taxpayers need to create in order to ship their retirement savings overseas.”
“Of course, no LAW has been passed. No vote has been conducted. The IRS simply decided by policy in its sole discretion to stop allowing Americans to create this structure, and hence, force them to keep their retirement savings in the US.” I’m posting a link to the Sovereign Man site which you will want to read this article in its entirety.
So let me ask you can you feel the boot coming down a bit harder? Had enough yet or still want to wait a little longer to see if it’s all true? What’s it finally going to take for you to take some sort of action? As Einstein once said “Nothing happens till something moves.” In closing you’d be well served to really have a firm grasp of what I’m saying in the following sentence. It’s the space between the bars that actually holds the tiger in its cage. Until next time this is Barry in DR.
Article: If you have an IRA you need to know this.