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Guest Post: How to Save Your Money And Your Life

Tyler Durden's picture





 

Submitted by Doug Casey of Casey Research

How to Save Your Money And Your Life

I think there are really only two good reasons for having a significant amount of money: To maintain a high standard of living and to ensure your personal freedom. There are other, lesser reasons, of course, including: to prove you can do it, to compensate for failings in other things, to impress others, to leave a legacy, to help perpetuate your genes, or maybe because you just can't think of something better to do with your time.

But I'll put aside those lesser motives, which I tend to view as psychological foibles. Basically, money gives you the freedom to do what you'd like – and when, how and with whom you prefer to do it. Money allows you to have things and do things and can even assist you to be something you want to be. Unfortunately, money is a chimera in today's world and will wind up savaging billions in the years to come.

As you know, I believe we're into at least the fourth year of what I call The Greater Depression. A lot of people believe we're in a recovery now; I think, from a long-term point of view, that is total nonsense. We're just in the eye of the hurricane and will soon be moving into the other side of the storm. But it will be far more severe than what we saw in 2008 and 2009 and will last quite a while – perhaps for many years, depending on how stupidly the government acts.

Real Reasons for Optimism

There are reasons for optimism, of course, and at least two of them make sense.

The first is that every individual wants to improve his economic status. Many (but by no means all) of them will intuit that the surest way to do so is to produce more than they consume and save the difference. That creates capital, which can be invested in or loaned to productive enterprise. But what if outside forces make that impossible, or at least much harder than it should be?

The second reason for optimism is the development of technology – which is the ability to manipulate the material world to suit our desires. Scientists and engineers develop technology, and that also adds to the supply of capital. The more complex technology becomes, the more outside capital is required. But what if sufficient capital isn't generated by individuals and businesses to fund further technological advances?

There are no guarantees in life. Throughout the first several hundred thousand years of human existence, very little capital was accumulated – perhaps a few skins or arrowheads passed on to the next generation. And there was very little improvement in technology – it was many millennia between the taming of fire and, say, the invention of the bow. Things very gradually accelerated and improved, in a start-stop-start kind of way – the classical world, followed by the Dark Ages, followed by the medieval world. Finally, as we entered the industrial world 200 years ago, it looked like we were on an accelerating path to the stars. All of a sudden, life was no longer necessarily so solitary, poor, nasty, brutish or short. I'm reasonably confident things will continue improving, possibly at an accelerating rate. But only if individuals create more capital than they consume and if enough of that capital is directed towards productive technology.

Real Reasons for Pessimism

Those are the two mainsprings of human progress: capital accumulation and technology. Unfortunately, however, that reality has become obscured by a morass of false and destructive theories, abetted by a world that's become so complex that it's too difficult for most people to sort out cause and effect. Furthermore, most people in the OECD world have become so accustomed to good times, since the end of WW2, that they think prosperity is automatic and a permanent feature of the cosmic firmament. So although I'm very optimistic, progress – certainly over the near term – isn't guaranteed.

These are the main reasons why the standard of living has been artificially high in the advanced world, but don't confuse them with the two reasons for long-term prosperity.

The first is debt. There's nothing wrong with debt in itself; lending is one way for the owner of capital to deploy it. But if a society is going to advance, debt should be largely for productive purposes, so that it's self-liquidating; and most of it would necessarily be short term.

But most of the scores of trillions of debt in the world today are for consumption, not production. And the debt is not only not self-liquidating, it's compounding. And most of it is long term, with no relation to any specific asset. A lender can reasonably predict the value of a short-term loan, but debt payable in 30 years is impossible to value realistically. All government debt, mortgage debt and consumer debt and almost all student loan debt does nothing but allow borrowers to live off the capital others have accumulated. It turns the debtors into indentured servants for the indefinite future. The entire world has basically overlooked this, along with most other tenets of sound economics.

The second is inflation. Like debt, inflation induces people to live above their means, but its consequences are even worse, because they're indirect and delayed. If the central bank deposited $10,000 in everyone's bank account next Monday, everyone would think he were wealthier and start consuming more. This would start a business cycle. The business cycle is always the result of currency inflation, no matter how subtle or mild. And it always results in a depression. The longer an inflation goes on, the more ingrained the distortions and misallocations of capital become, and the worse the resulting depression. We've had a number of inflationary cycles since the end of the last depression in 1948. I believe we're now at the end of what might be called a super-cycle, resulting in a super-depression.

The third is the export of dollars. This is unique to the US and is the reason the depression in the US will in some ways be worse than most other places. Since the early '70s, the dollar has been used the way gold once was – it's the world's currency. The problem is that the US has exported about $7 trillion in exchange for good things from around the world. It was a great trade for a while. The foreigners get paper created at essentially zero cost, while Americans live high on the hog with the goodies those dollars buy.

But at some point quite soon, dollars won't be readily accepted, and smart foreigners will start dumping their dollars, passing the Old Maid card. Ultimately, most of the dollars will come back to the US, to be traded for the title to land and businesses. Americans will find that they traded their birthright for a storage unit full of TVs and assorted tchotchkes. But many foreigners will also be stuck with dollars and suffer a huge loss. It's actually a game with no winner.

What's Next

These last three factors have enabled essentially the whole world to live above its means for decades. The process has been actively facilitated by governments everywhere. People like living above their means, and governments prefer to see the masses sated.

The debt and inflation have also financed the growth of the welfare state, making a large percentage of the masses dependent, even while they've also resulted in an immense expansion in the size and power of the state over the last 60-odd years. The masses have come to think government is a magical entity that can do almost anything, including kiss the economy and make it better when the going gets tough. The type of people who are drawn to the government are eager to make the state a panacea. So they'll redouble their efforts in the fiscal and monetary areas I've described above, albeit with increasingly disastrous results.

They'll also become quite aggressive with regulations (on what you can do and say, and where your money can go) and taxes (much higher existing taxes and lots of new ones, like a national VAT and a wealth tax). And since nobody wants to take the blame for problems, they'll blame things on foreigners. Fortunately (the US will think) they have a huge military and will employ it promiscuously. So the already bankrupt nations of NATO will dig the hole deeper with some serious – but distracting – new wars.

It's most unfortunate, but the US and its allies will turn into authoritarian police states. Even more than they are today. Much more, actually. They'll all be perfectly fascist – private ownership of both consumer goods and the means of production topped by state control of both. Fascism operates free of underlying principles or philosophy; it's totally the whim of the people in control, and they'll prove ever more ruthless.

So where does that leave us, as far as accumulating more wealth than the average guy is concerned? I'd say it puts us in a rather troubling position. The general standard of living is going to collapse, as will your personal freedom. And if you're an upper-middle-class person (I suspect that includes most who are now reading this), you will be considered among the rich who are somehow (this is actually a complex subject worthy of discussion) responsible for the bad times and therefore liable to be eaten. The bottom line is that if you value your money and your freedom, you'll take action.

There's much, much more to be said on all this. I've said a lot on the topic over the past few years, at some length. But I thought it best to be brief here, for the purpose of emphasis. Essentially, act now, because the world's combined economic, financial, political, social and military situation is as good as it will be for many years... and a lot better than it has any right to be.

What to Do?

No new advice here, at least as far as veteran readers are concerned. But my suspicion is that very few of you have acted, even if you understand why you should act. Peer pressure (I'm confident that you have few, if any, friends, relatives or associates who think along these lines) and inertia are powerful forces.

That said, you should do the following.

  1. Maintain significant bank and brokerage accounts outside your home country. Consider setting up an offshore asset protection trust. These things aren't as easy to do as they used to be. But they'll likely be much less easy in the future.
  2. Make sure you have a significant portion of your wealth in precious metals and a significant part of that offshore.
  3. Buy some nice foreign real estate, ideally in a place where you wouldn't mind spending some time.
  4. Work on getting official residency in another country, as well as a second citizenship/passport. There's every advantage to doing so, and no disadvantages. That's true of all these things.

One more thing: Don't worry too much. All countries seem to go through nasty phases. Within the lifetime of most people today, we've seen it in big countries such as Russia, Germany and China. And in scores of smaller ones – the list is too long to recount here. The good news is that things almost always get better, eventually.

 


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Mon, 06/18/2012 - 17:51 | Link to Comment suckerfishzilla
suckerfishzilla's picture

I'm staying put.  Let the bankers leave. 

Mon, 06/18/2012 - 17:57 | Link to Comment traderjoe
traderjoe's picture

I'm kind of tired of these articles that discuss foreign assets and bank accounts. From what I've read, Community is the first word in surviving a SHTF episode. So, have your money local, where you can see, feel, touch it. Apartments, farms, real estate, commercially relevant skills, barter goods, supplies, etc. You want to lose money quickly - put it into a foreign bank account and then have the SHTF. You think you'll actually be able to go get it? Ha!

Mon, 06/18/2012 - 18:03 | Link to Comment iDealMeat
iDealMeat's picture

I wish I could have the 2 minutes back that I wasted reading this crap..

 

Mon, 06/18/2012 - 18:12 | Link to Comment Rainman
Rainman's picture

me too...I already live in a foreign country...people's republik of Kali

Tue, 06/19/2012 - 01:27 | Link to Comment J U D G E M E N T
J U D G E M E N T's picture

I did not even waste 2 minutes...

Tue, 06/19/2012 - 03:21 | Link to Comment CompassionateFascist
CompassionateFascist's picture

No, I think Casey's analysis of the why's and wherefore's is well-done, if obvious. But U cannot run away from the ZOGlobalists. This is a zero-sum game. Either Zion will violently gulag the planet, or we will defeat them via similar means. I have no particular expectation as to outcome or personal survival, but it will all be most interesting. Invest in lead. 

Mon, 06/18/2012 - 18:04 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

 

I was watching Saturday Night Live last week, when it occurred to me just how isolated and uncool libertarians really are. Here I am, feeling part of a community with awesome TV personalities and hilarious witty TV hosts, while lonely doomer libertarians cry about ridiculous end-of-the-world conspiracy theories. It’s quite sad really. Here’s just a small list of cool people that are vehemently opposed to libertarianism:

1.      

Brad Pitt

2.      

George Clooney

3.      

Angelina Jolie

4.      

Snoop Dogg

I feel sorry for libertarians. Not only are wrong about economics and morality, but they are also uncool.

 

Mon, 06/18/2012 - 18:06 | Link to Comment Renfield
Renfield's picture

hehehe

I thought 'cool' was officially declared a rayciss term now?

Anyways. Voted up for snark.

Mon, 06/18/2012 - 18:14 | Link to Comment Pure Evil
Pure Evil's picture

The word "cool" is the most overused word in American culture.

If kiddie juice drinks are considered "cool" than what isn't "cool" nowdays.

I guess even a turd blossom can be cool, and I can only guess that you'd know about that personally, wouldn't you MDB?

Mon, 06/18/2012 - 20:14 | Link to Comment Golden Balls
Golden Balls's picture

"The word "cool" is the most overused word in American culture." sure its not "Let me tell ya sumthang"

Mon, 06/18/2012 - 18:09 | Link to Comment akak
akak's picture

The "uncool", from high school onward, have consistently been those who have made the most of their lives, led the most well-adjusted lives, and contributed the most to society via their hard work and dedication to such "uncool" endeavors as science, philosophy, engineering and medicine, while the "cool" become fat former football-playing couch potatos and garbage men, drug dealers, self-destructive celebrities and general wastrals.

One has to question the worth of any society which places value on those who undermine it the most.

Mon, 06/18/2012 - 18:16 | Link to Comment SemperFord
SemperFord's picture

The "uncool" people during my high school years were the Mopar guys so unlike the Chevy and Ford guys, they rarely got laid.

I do agree with the rest of your comment though.

Tue, 06/19/2012 - 07:15 | Link to Comment neidermeyer
neidermeyer's picture

That's racist ... everyone knows that MoPars factories were almost 100% black ,, they were located in the worst sections of Detroit.

Tue, 06/19/2012 - 08:39 | Link to Comment GeezerGeek
GeezerGeek's picture

Most of the MOPARs I owned (64-68-71-74-84-98) were assembled in Canada. Zero quality. Let me rephrase that: quality equated to the square root of -1. Great engineering, however.

Tue, 06/19/2012 - 09:30 | Link to Comment toady
toady's picture

Jocks & freaks in the Northeast, circa 1979

Mon, 06/18/2012 - 19:01 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture

The U.S. Conference of Mayors, meeting in Orlando, Florida, on Saturday unanimously endorsed "parent trigger" laws aimed at bypassing elected school boards and giving parents at the worst public schools the opportunity to band together and force immediate change.

 

Such laws are fiercely opposed by teachers' unions....

 

http://www.reuters.com/article/2012/06/18/us-usa-education-trigger-idUSB...

Mon, 06/18/2012 - 23:12 | Link to Comment prole
prole's picture

Yeah I'm sure that'll work. What are they going to do- fire every black teacher?

Demand to double the taxes, on themselves? lol Fvcking idiots.

It's like giving the inmates of the Gulag the right to vote, on how much and how often to increase the whippings.

Mon, 06/18/2012 - 19:22 | Link to Comment Miss Expectations
Miss Expectations's picture

Check out this high school science award winner:

http://www.forbes.com/sites/bruceupbin/2012/06/18/wait-did-this-15-year-...

Mon, 06/18/2012 - 21:16 | Link to Comment HoofHearted
HoofHearted's picture

I'm sure MDB thinks that guy is totally uncool. Me- I tend to disagree.

Mon, 06/18/2012 - 20:56 | Link to Comment Pizza man
Pizza man's picture

nailed it

Mon, 06/18/2012 - 18:09 | Link to Comment prodigious_idea
prodigious_idea's picture

That was a re-run. 

Mon, 06/18/2012 - 18:10 | Link to Comment TWSceptic
TWSceptic's picture

There's a reason those people are actors, they're not very good at anything else including economics.

Mon, 06/18/2012 - 18:47 | Link to Comment Marginal Call
Marginal Call's picture

They're actors because they are talented (for the most part).  There are no talented economists.  Just bullshit artists with opinions that have the accuracy of a broken clock. 

Mon, 06/18/2012 - 19:29 | Link to Comment sitenine
sitenine's picture

I would trust the broken clock over an economist.

Mon, 06/18/2012 - 23:17 | Link to Comment prole
prole's picture

You can trust an Austrian Economist to tell you the truth Comrade.

AND- 90% of the 'actors' are there because of who their fathers are, n'est pa Madam Pompadour/Jolie? What's that fvcking idiot son of Donald Shalom Sutherland? That 24 Troll? #Winning!

Tue, 06/19/2012 - 08:46 | Link to Comment GeezerGeek
GeezerGeek's picture

Family occupations aboud, and not just in acting. Look at auto racing (Petty clan, Andretti clan, on and on) and, worse yet, politics. Cuomo. Clinton. Kennedy. Bush.

It's not what you know, but who you know.

Mon, 06/18/2012 - 18:18 | Link to Comment Floordawg
Floordawg's picture

I don't know about #'s 1-3 (and don't give a shit either), but #4, Snoop Dogg is a Ron Paul supporter... so your wrong there.

Mon, 06/18/2012 - 22:38 | Link to Comment Bolweevil
Bolweevil's picture

A to the motherfuckin' K homeboy.

Tue, 06/19/2012 - 08:49 | Link to Comment GeezerGeek
GeezerGeek's picture

Brad and Angela are big gun supporters. I know because I saw them blasting away in a movie together using Smith as an alias.

Mon, 06/18/2012 - 18:19 | Link to Comment Everybodys All ...
Everybodys All American's picture

When the shtf that list will be on the first lear jet out of here and for good reason of course (for the children).

Mon, 06/18/2012 - 18:36 | Link to Comment Normalcy Bias
Normalcy Bias's picture

MDB's troll-fu is m e l t i n g ...

Mon, 06/18/2012 - 18:38 | Link to Comment The Gooch
The Gooch's picture

Fuck! I'm going to get some "Just For Men", "Grecian Formula" and some cool, new duds @ JCP!

Mon, 06/18/2012 - 19:22 | Link to Comment IndicaTive
IndicaTive's picture

MDB, I posted a couple of months ago that your finesse was slipping IMHO.  http://www.zerohedge.com/news/guest-post-you-aint-seen-nothing-yet-part-one#comment-2309764

Seems like you're getting it back. So thanks FWIW.

Tue, 06/19/2012 - 05:02 | Link to Comment tocointhephrase
tocointhephrase's picture

MDB your free to make comment, hence you are too a libertarian! How cool lol

Tue, 06/19/2012 - 05:43 | Link to Comment BeetleBailey
BeetleBailey's picture

Man, are you twisted. Keep worshipping the douche-list, douche.

You are easily amused - something your leaders figured out years ago; appease the masses (your fucked up community) and brain-wash their pea-brains with bullshit.

It's worked "wonders" on you.

Mon, 06/18/2012 - 18:09 | Link to Comment Renfield
Renfield's picture

@traderjoe: Agree. Your comment was better than the article IMO.

Don't know why some "foreign" country is going to be any more stable than "home", no matter where your home is. Foreign assets are a lot easier for governments/banks to seize, than those of nationals. (Foreigners don't get a vote or much of a voice.) Globalization has, ironically, made "stay local" the only real economy for most of us.

Mon, 06/18/2012 - 22:03 | Link to Comment andrewp111
andrewp111's picture

If you have a job that requires a US Security Clearance, just try and get a foreign citizenship. You will lose your livelihood really fast. In the current environment, anyone with a decent job will want to keep it. Taking stupid risks is well... stupid.

Mon, 06/18/2012 - 23:17 | Link to Comment FeralSerf
FeralSerf's picture

The Jooze don't seem to have a problem getting a U.S. security clearance.

Mon, 06/18/2012 - 23:19 | Link to Comment Moe Howard
Moe Howard's picture

Not if it is Israeli.

Mon, 06/18/2012 - 18:12 | Link to Comment TWSceptic
TWSceptic's picture

Doug Casey is right. Why do you think all these rich investors have places outside the US? You think they just don't like it in the US? Of course not. They know what's coming and they know it will not be safe anymore. I'll be interested in seeing how your community is going to deal with riots, food shortage, crime, government arresting people here and there... and you in the middle of it with your gold and silver and food reserves. That 'supporting community' of yours will soon turn into your worst enemy.

Mon, 06/18/2012 - 18:50 | Link to Comment flattrader
flattrader's picture

>>> They know what's coming and they know it will not be safe anymore.<<<

Holy freakin' gawd...like foreign countries don't have riots,, food shortages, etc...

I've been in two foreign riots, two separate countries.  Fortunately, they were more interested in killing each other than Americans on both of those days.

>>>Why do you think all these rich investors have places outside the US?<<<

Moron, the operative word here is "rich" not "outside."  The truly rich can be "safe" until the money runs out...or their money doesn't matter anymore...and when the latter happens, they are not "safe" anymore regardless of where they are.

Mon, 06/18/2012 - 23:11 | Link to Comment sethstorm
sethstorm's picture

No amount of money will protect someone from a superpower like the US.

Tue, 06/19/2012 - 05:03 | Link to Comment The Navigator
The Navigator's picture

AND, if you think you can hide from EMPIRE, there's not many corners of the earth that you can hide in - the EMPIRE is everywhere - and always asking who you are - they need your productivity and taxes thereon.

Mon, 06/18/2012 - 18:53 | Link to Comment unununium
unununium's picture

Doug Casey is just a big enough part of the status quo that he wants it to remain, believing he is smart enough to do "better than the average Joe."

Capital accumulation and technology. Agreed. Progress comes in two forms. What we've built and what we've learned. Question is, Doug, have you built anything or taught anyone anything?

Mon, 06/18/2012 - 23:24 | Link to Comment prole
prole's picture

That is pretty superior sounding talk there unim, do you walk on water?

In this world it is hard enough to put food on the table, and a roof over your head/children's head, (without stealing it from someone else) who are you to judge someone based on your definition of perfection?

Mon, 06/18/2012 - 18:31 | Link to Comment Sean7k
Sean7k's picture

Well said Traderjoe,

Good to read some common sense and more, the realization that countries do not completely fall apart (as Casey intimates) and that local communities are where our greatest strength and security reside. The global disaster story is getting old. Maybe Casey just wants to sell some more worthless Argentinian land...

Mon, 06/18/2012 - 18:45 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

"You want to lose money quickly - put it into a foreign bank account and then have the SHTF. You think you'll actually be able to go get it?"

For US citizens, the safest place to keep your money is in the US.  His recommendations would be valid if you were living in one of the PIIGS.

Mon, 06/18/2012 - 19:59 | Link to Comment FeralSerf
FeralSerf's picture

The US may become one of the PIIGS.  From a balance sheet standpoint, some of the PIIGS actually look less insolvent.

Mon, 06/18/2012 - 22:48 | Link to Comment Bolweevil
Bolweevil's picture

USPIIGS. As in, "Us pigs are happy living in our squalor. Together."

Mon, 06/18/2012 - 19:53 | Link to Comment Rasna
Rasna's picture

These guys are all the same...

sarc on/ First I'll scare the SHIT out of you by telling you that the sky is falling, and then you will break out in hives and boils... Nowm for a reduced price of only $200 I will save you and your IPad... This offer lasts for only a short time and the price sill revert back to $595 fo the one year subscription.

BTW, by following our advice, you are guaranteed to get onto the Homeland Security "No Fly List", so you will never get to see your offshore accounts. /sarc off

There was a guy in the 70's - Howard Ruff - who made a fortune peddling his newsletter - The Ruff Times.  We followd his advice and filled our basement with hundreds of pounds of whole soybeans, wheat corn, rice, MRE's, dry milk, a grain mill and food dehydrater.  The Mormons made a fortune off of us.  The freezer was filled to the brim with 2 sides of beef, lamb, chicken and anything else that could be frozen.  After Volker, We ended up donating most of the food to a shelter.

Yes things are serious and we can be prepared, but guys like Casey, Sinclair and the others are in the Newlsletter business... Their marketing strategy is to stir up the bottom of the pond and then prey on the fear and rake in the dollars...

I get better info on ZH than these jokers gin up...  Join the Boy Scouts and Be Prepared.

Mon, 06/18/2012 - 20:07 | Link to Comment FeralSerf
FeralSerf's picture

"The Mormons made a fortune off of us."

If Romney gets to the Oval Office, you ain't seen nuttin' yet.  Those fukkers show no mercy.

Mon, 06/18/2012 - 21:14 | Link to Comment Ookspay
Ookspay's picture

+1 Trader,

What an ill-informed post. Is this April Fools day? Keep your PM's "offshore"? Are you fucking kidding me? Yeah right, I'll also keep my assault rifle and ammo in safe keeping in Belize with my stack!

I'm staying right here. If the shit hits the fan I'll be wearing a rain slicker and goggles, clinging to my Bible, Constitution and Guns!

 

Mon, 06/18/2012 - 21:43 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Agreed... I'm bugging in.

Mon, 06/18/2012 - 22:52 | Link to Comment Bolweevil
Bolweevil's picture

Bug in! Bug in!Bug in!Bug in!

Thu, 06/21/2012 - 06:13 | Link to Comment HamFistedIdiot
HamFistedIdiot's picture

"Bug in"

 

Agreed, Bolweevil. But we have a lot of work to do here: stop the chemtrailing, get fluoride out of the water, stop the wars, overhaul the debt based monetary system, give education back to local communities (ie get feds out of education), support health freedom (eg, no tainted vaccines, support raw milk producers, no gmo etc.), and so forth and so on. We are under attack right now.

Sat, 06/23/2012 - 13:21 | Link to Comment Ookspay
Ookspay's picture

While you make some great points including "local education control, health freedom", you diminish your credibility with that "chemtrail and flouride" nonsense. Focus man focus.

Mon, 06/18/2012 - 22:48 | Link to Comment FiatFobia
FiatFobia's picture

Agree. I used to think that I wanted to move to Panama, etc. but I have since evolved my thinking that USA may be the best place to weather the economic storm that is coming.   I dont' trust sending my money or my gold overseas for someone else to "manage".

Mon, 06/18/2012 - 23:07 | Link to Comment DaveyJones
DaveyJones's picture

well said. local systems are also the best way to fight (and hurt) the criminal system

Mon, 06/18/2012 - 17:58 | Link to Comment floridasandy
floridasandy's picture

i am with you.

i think i will stay also, no matter what. :)

Mon, 06/18/2012 - 18:10 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Ditto!

Tue, 06/19/2012 - 00:41 | Link to Comment Eireann go Brach
Eireann go Brach's picture

We are not in a fucking "Greater Depresssion" Casey, go to the malls and they are all packed!

Mon, 06/18/2012 - 17:53 | Link to Comment ZippyDooDah
ZippyDooDah's picture

Advice for the 1%.

Mon, 06/18/2012 - 18:07 | Link to Comment BigMike
BigMike's picture

Indeed. I make about $28,000 after taxes per year. If I want an economic passport from Dominica thats 5-6 years of work, while scrimping and saving like no other. I think I'll just pick up some precious metals and some prospect generator shares. Doug Casey got rich during the good times, like many other baby boomers. 

Mon, 06/18/2012 - 21:06 | Link to Comment Mentaliusanything
Mentaliusanything's picture

Then may I propose -

Ond Burbon, one Scotch and one Beer.

Works for me!

Mon, 06/18/2012 - 21:48 | Link to Comment Fred C Dobbs
Fred C Dobbs's picture

This is from the Dollar Vigilante website.  From their Feedback Friday - June 15, 2012.

quote

As for your comment on passports, you have greatly overstated the costs. TDV Passports hasn't announced it yet, but we have negotiated three separate expedited passport programs with the governments of three different countries. One in the caribbean, one in South America and one in Asia. The cheapest is less than $12,000. There is one for $25,000 and takes 8 months. The fastest is 42-90 days and costs $90,000. We have negotiated all of these directly with the governments of those countries and we will be announcing them all to subscribers in the coming weeks. Or you can call us to get more info now (646-568-5518).

unquote

Mon, 06/18/2012 - 21:51 | Link to Comment OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

Foreign banks and brokerages don't want Americans anymore, not since the Patriot Act. The Swiss have kicked them all out

Mon, 06/18/2012 - 23:28 | Link to Comment prole
prole's picture

We are the poison of the world. The ultimate untermensch

Mon, 06/18/2012 - 18:14 | Link to Comment Gazooks
Gazooks's picture

Exactly. Doug's got his little elite cocoon getaway in Argentina.

Not much history of fascism there, ...just a few disappeared now and again, ...occasional ass-wuppin' by Brit's

But, they do have gauchos and Patagonia.

Don't cry for me, Doug.

Mon, 06/18/2012 - 18:23 | Link to Comment Vet4RonPaul
Vet4RonPaul's picture

I think this advice is achievable for about 30% at least because a) it was not presented as each point being mandatory; there is a range of readiness one can pursue, b) anyone with a parent or grandparent from Ireland, Italy and many other countries could, for about $200 and a 1 year wait, get confirmation of their citizenship and passport to that country; ie. dual citizenship is obtainable to hundreds of thousands of US citizens, c) anyone with any discreationary income could invest in silver and gold coins.  So, fuck the banksters and become your own central bank.  Finally, keep your assets physical because the digitial shit is way too easy for the gov to make go missing; looks like this: UPDATE savings = 0 WHERE people = 'sheeple'; commit;

Mon, 06/18/2012 - 18:44 | Link to Comment Renfield
Renfield's picture

re: dual citizenship - I understand the benefit of having somewhere to "run to", assuming that place is in fact any better off, but what about the related problem of making yourself subject to two taxing entities, instead of one? I never see this addressed but I think, especially considering the US taxation approach to expatriots, the "dual citizenship" option carries a lot of risk. Especially if certain global banks decide to play ball with a government in return for regulatory favours, and start confiscating from accounts.

For example, what if, say, a Canadian citizen becomes "dual" with the UK, and either or both of those countries decide to follow the US example of taxing expatriots/foreign income? All it would take is the largest banks going along, and you're screwed.

Not knowledgeable about tax law so unable to judge how likely this is. But it's always in the back of my mind as a concern since I've never seen it addressed in these dual-citizenship recommendations.

Mon, 06/18/2012 - 19:07 | Link to Comment Vet4RonPaul
Vet4RonPaul's picture

I'm not an expert on this but I know dozens of people with dual citizenship and who have two passports and who "only" need to pay taxes to one country.  Certainly it could change in the future, and if it does, i'm screwed again - wouldn't be the first time and wouldn't likely be the last time.

Mon, 06/18/2012 - 20:26 | Link to Comment mjk0259
mjk0259's picture

I have 3, never did anything with taxes for the other two. I don't have any money or residency in them. Just gives me the right to move there I guess and maybe somehow get medical insurance (Ireland, UK). I got them through birth and ancestry. Costs a couple hundred books and tons of proof.

 

Mon, 06/18/2012 - 17:54 | Link to Comment kindape
kindape's picture

this is such crap. we are now (almost all) in this together. having some gold and silver might help A LITTLE, but we either muddle through or everyone collapses together. increased 'purchasing power' only works when there are goods to purchase - and there wont be in the scenarios you envision. think globally connected just in time supply chains dependent on letters of credit, bank wires to countries with failing currencies etc. I would think friends, health and skills should come (WAY) before precious metals and bank accounts in foreign countries

Mon, 06/18/2012 - 18:16 | Link to Comment GernB
GernB's picture

"we are now (almost all) in this together"

Except the 1%. They are to blame for it all.

(at least that's the message I hear every day)

Mon, 06/18/2012 - 18:45 | Link to Comment kindape
kindape's picture

they are not to blame for it all. we are all at least partially to blame (unless you are an ox herder in Mongolia or such). we have to stop blaming individuals and start blaming ideas. 

the 1% will get their comeuppance:

a)they will be the last to believe/prepare

b)they have the furthest to fall in social standing

c)the will not be (easily) able to switch the meaning/purpose in their lives from net worth to self worth

d)most of them live in cities

Mon, 06/18/2012 - 20:17 | Link to Comment FeralSerf
FeralSerf's picture

The Bush family are preparing:   The Bush Family Buys Land in Paraguay-Hasta La Vista, American Chumps?

http://tpjmagazine.us/walker42

 Paraguay in a spin about Bush's alleged 100,000 acre hideaway

http://www.guardian.co.uk/world/2006/oct/23/mainsection.tomphillips

Is This Why Bush Bought A 900,000 Acres in South America?

http://www.gatheringspot.net/video/general-discussion/why-bush-bought-90...

Mon, 06/18/2012 - 17:54 | Link to Comment yabyum
yabyum's picture

Off Shore!?!?.    How about in the gardne under the white rose bush next to the big pit bull? Closer is better.

Mon, 06/18/2012 - 17:56 | Link to Comment New_Meat
New_Meat's picture

my gardne has a coupla' tons of cow-manure on top of my roots. - Ned

Mon, 06/18/2012 - 18:11 | Link to Comment Bollixed
Bollixed's picture

You sound like Trump talking about his hair.

Mon, 06/18/2012 - 18:11 | Link to Comment Renfield
Renfield's picture

These days, if it's not readily available to my hot little hand (i.e., no middlemen), I don't own it.

Mon, 06/18/2012 - 17:54 | Link to Comment New_Meat
New_Meat's picture

Of course, the "Affordable Healthcare Act" that had to be passed before we could understand it has anticipated each and every one of these logical off-ramps and has wrecked an 18-wheeler dual load across the ramp.

So, progress continues.

Don't cha' know.

- Ned

Mon, 06/18/2012 - 17:55 | Link to Comment mjk0259
mjk0259's picture

Which country is better? Australia maybe but they will get slammed if there's a big China recession. Canada maybe but they seem to be in the same real estate bubble US was in. Europe is apparently no good. Japan is supposed to collapse. China is doing well but not so friendly a place for foreigners if they are not real wealthy. Most other places the local dictator/police will quickly end up with most of your assets either by confiscating them or devaluing the currency even faster than US does....

Mon, 06/18/2012 - 18:17 | Link to Comment hamurobby
hamurobby's picture

Austraila has taken away its civilian right to own firearms, they are the newest local dictator police state.

Mon, 06/18/2012 - 18:58 | Link to Comment bdc63
bdc63's picture

I have put quite a bit of thought into the ideal place to relocate.  I'm a subscriber to one of Doug Casey's investment newsletters, but I have not come to the same conclusion as him.

Based on my criteria, I've picked Belize (with one of my criteria being that if the S doesn't HTF then it would be one hell of a nice place to vacation).  And yes I know it's third world with a government that is having trouble getting its act together ... those were also some of my criteria).

Mon, 06/18/2012 - 17:56 | Link to Comment the 300000000th...
the 300000000th percent's picture

I have physical in my possesion, and I dont have enough money to have an offshore account. I dont know what you mean by don't worry too much.... I think i am probalbly worrying about the right amount of worry i guess. I think we need to start thinking outside of the box and these pre constucted notions of college educations being the end all be all. I am looking for opportunities to arrise from the panic that is sure to come. Time to stay focused, open minded, and pay attention for opportunities.

Mon, 06/18/2012 - 18:00 | Link to Comment financial apoca...
financial apocalyptic contagion's picture

i got a similar strategy, just more guns

Mon, 06/18/2012 - 18:04 | Link to Comment the 300000000th...
the 300000000th percent's picture

+1 i got that covered pretty good too

Mon, 06/18/2012 - 22:14 | Link to Comment ZeroAvatar
ZeroAvatar's picture

I used to have Fizz, 'til I took it skydiving with me once.  I thought it would be cool to say I'd skydived with P.M.'s.  The dang stuff started weighting me down and I had to jettison it.  What a cryin' shame.  I'll NEVER pull THAT stunt again!

Mon, 06/18/2012 - 17:56 | Link to Comment cougar_w
cougar_w's picture

things will continue improving, possibly at an accelerating rate. But only if individuals create more capital than they consume and if enough of that capital is directed towards productive technology.

Magical thinking at work.

Mon, 06/18/2012 - 18:06 | Link to Comment carbonmutant
carbonmutant's picture

Last decade they were working on solving World Hunger too...

Unfortunately that seems to be spreading...

Mon, 06/18/2012 - 18:18 | Link to Comment cougar_w
cougar_w's picture

Just to riff on your comment:

For most of the world's history there were not much more than around 1 billion people. There is some evidence that sustainable agriculture working with the given resources (sun+water+air+soil) could feed about that many people somewhat comfortably. Everyone above 1 billion came onto the scene via the boosting of argiculture via fossil energy inputs.

Today 6 billion people are indirectly eating oil.

You can come up with a lot of reasons why we went from 1.2 billion humans to over 7 billion in 2 generations. They all come down to the same thing:

You can get 6 billion additional humans leveraging the energy content of fossil fuels.

Anything else is magical thinking. Once a critical mass of people figures this basic equation out the rules of engagement are going to change completely.

Mon, 06/18/2012 - 18:53 | Link to Comment carbonmutant
carbonmutant's picture

"Once a critical mass of people figures this basic equation out the rules of engagement are going to change completely."

Good Point..

Tue, 06/19/2012 - 21:19 | Link to Comment mkkby
mkkby's picture

Of the 7 billion, 6 billion live on less than $10 a day.  Which ones do you think will get cut off first?

Mon, 06/18/2012 - 19:30 | Link to Comment prodigious_idea
prodigious_idea's picture

Three Days of the Condor

Mon, 06/18/2012 - 19:40 | Link to Comment cougar_w
cougar_w's picture

Nice catch. Good example of "getting it".

 

Mon, 06/18/2012 - 20:36 | Link to Comment Taint Boil
Taint Boil's picture

 

 

Once a critical mass of people figures this basic equation.........

 

 

“If kindness and comfort are, as I suspect, the results of an energy surplus, then, as the supply contracts, we could be expected to start fighting once again like cats in a sack.”

— George Monbiot

 

 

Mon, 06/18/2012 - 21:22 | Link to Comment knukles
knukles's picture

Ya know, if they're trying to make everybody happy (a seemingly reasonable quest of any government) then it gets tougher and tougher to squeeze 6 billion (6 times as tough) people into one little clown car taxi than it does 1 billion.
Hence the Powwowers that Bee's answer being starvation of the additional 5 billion.

See, it all makes more sense when one stops and reflects sincerely upon the human condirtion.

Mon, 06/18/2012 - 23:13 | Link to Comment DaveyJones
DaveyJones's picture

oil also substitutes a huge amount of labor. A lot more people will have to work directly on growing and harvesting food in natural local systems that get progressively fertile not the other way around.    

Mon, 06/18/2012 - 17:57 | Link to Comment sbenard
sbenard's picture

My first choice for a place of refuge would be Chile.

Mon, 06/18/2012 - 18:15 | Link to Comment drysafe
drysafe's picture

Mind telling us why? Also, are you not nervous about the earthquakes?

Mon, 06/18/2012 - 18:01 | Link to Comment F. Bastiat
F. Bastiat's picture

Running and hiding are for cowards.

There is no honor in them; only dishonor and surrender.

Man up.

Mon, 06/18/2012 - 18:20 | Link to Comment sitenine
sitenine's picture

Ever tried to fight a drone?

...just sayin'

+1 for the positive sentiment.

Mon, 06/18/2012 - 20:54 | Link to Comment bshirley1968
bshirley1968's picture

No, but it sounds like fun.  Where do I sign up?

Mon, 06/18/2012 - 21:48 | Link to Comment F. Bastiat
F. Bastiat's picture

Why would you fight a drone?  Warfare is ultimately a human endeavor.  Recommend Hammes' "The Sling and the Stone" to brush up on 4GW, 5GW, 6GW.

A thousand drones, for example, aren't going to change the outcome in Afghanistan; the Taliban will have reclaimed it by 2015 or so.

Mon, 06/18/2012 - 23:15 | Link to Comment DaveyJones
DaveyJones's picture

 a drone is no match for coordinated non participation in the current economy and debt system

Tue, 06/19/2012 - 06:59 | Link to Comment F. Bastiat
F. Bastiat's picture

No doubt about it.

Mon, 06/18/2012 - 18:21 | Link to Comment GernB
GernB's picture

Is that the advice you would have given the jews in Germany in WWII.

Mon, 06/18/2012 - 19:24 | Link to Comment BernankeHasHemo...
BernankeHasHemorrhoids's picture

Hey the guy has just started on the latest batch of meth he's cooked. As far as he's concerned he's standing his ground and fighting for his right to food stamps. USA #1 and all that crap..............

Mon, 06/18/2012 - 21:46 | Link to Comment F. Bastiat
F. Bastiat's picture

Absolutely; the same advice that every single individual faced with totalitarianism should heed.

Mon, 06/18/2012 - 18:00 | Link to Comment The Gooch
The Gooch's picture

Is there a "top tier" section of Fight Club for this non-sense? Fuck off.

Mon, 06/18/2012 - 18:01 | Link to Comment U6 Alabamian
U6 Alabamian's picture

"Maintain significant bank and brokerage accounts outside your home country."

 

And for those of us without that ability, we can always rely in the mason jar, and a shovel.

Mon, 06/18/2012 - 18:03 | Link to Comment Salt
Salt's picture

Between the nasty phases and eventual geting better there can be a lot of very unpleasant shit to happen.

 

Just say'n.

Mon, 06/18/2012 - 18:06 | Link to Comment blabam
blabam's picture

Studying Permaculture. Might as well grow my own food in the most productive manner.

Mon, 06/18/2012 - 18:10 | Link to Comment the 300000000th...
the 300000000th percent's picture

+1 on that one too, i just started trying my luck at vegetable gardening, were doing ok got A LOT of tomatoes and corn coming as well as squash, and cucumbers. Need to learn how to can before harvest season. Gonna get a smoker and start hunting more. I think its time for Americans that can, to start getting back to food sovereignty. Food security.

Mon, 06/18/2012 - 18:26 | Link to Comment cougar_w
cougar_w's picture

And Americans will, one way or another. But for a while you are going to be a very pretty goose laying precious golden eggs for the starving human shrapnel of the compressing economy to find and lay waste.

Be warned. There will be epic stories of whole communities going up in flames of tragic self-destruction before the dust finally settles on this dark tale.

Mon, 06/18/2012 - 20:08 | Link to Comment fuu
fuu's picture

There is no hedge though so make sure you stop and smell the roses.

Mon, 06/18/2012 - 23:27 | Link to Comment DaveyJones
DaveyJones's picture

Orangatangs can recognize hundreds of wild edibles. Imagine we could once. Permaculture recognizes that most of the energy and labor we devote to traditional agriculutre is fighting nature's effort to maintain its natural environment. It uses this truth and superior natural methods and tweaks them slightly produces vertical growth that it is not only non dependent on oil and sythetics but ridicuously more productive than "modern" methods. If you haven't check out "a farm for the future" on youtube and the book Gaias Garden. Also the site"Plants for the Future"     

Mon, 06/18/2012 - 18:07 | Link to Comment the 300000000th...
the 300000000th percent's picture

I know right? Where do you go from just plain silly stupid, which is where we are now

Mon, 06/18/2012 - 18:11 | Link to Comment sitenine
sitenine's picture

I'm seeing a lot of these 'just in case' posts all over.

I wonder how long before the official abandon ship call goes out?

And who will call it first?  I'm predicting Celente FTW.

Mon, 06/18/2012 - 18:22 | Link to Comment blabam
blabam's picture

Celente... didn't his broker have a boating accident? 

Mon, 06/18/2012 - 18:28 | Link to Comment sitenine
sitenine's picture

His broker was doing the will of JPM and should go to jail.

Mon, 06/18/2012 - 18:44 | Link to Comment bdc63
bdc63's picture

Steve Quayle already has.  His European banking "informant" told people to head for the hills last Thursday after announcing that the Euro collapsed on Wednesday night, but they will hide it from the peeps as long as they can (into the fall if possible).

Mon, 06/18/2012 - 18:20 | Link to Comment BeerGoggles
BeerGoggles's picture

If we are in depression, no.2 "holding PMs" does not make sense

Mon, 06/18/2012 - 18:21 | Link to Comment The Gooch
The Gooch's picture

Did an Italian ship-captain write this? Perhaps a soon-to-be getting his mother-fucking- head-chopped-off Goldman-Morgueanite? Take heed, polticos and fraudsters... You wanted "Globaliztion" and you got it.
You can move your 1's, zeroes and your silver-spoon progeny wherever you like... On a long enough hunting trip...

Mon, 06/18/2012 - 18:32 | Link to Comment Renfield
Renfield's picture

heh, interesting take. Maybe instead of thinking this article is addressed to us, the great unwashed, maybe this article is what the 1% are telling each other these days. You know, something along the lines of, after criminal bankers devastate their national economy, they can flee the pitchforks across a border or two and hide out in some "foreign" country...

As you say. They wanted Globalization, and now they got it. Also known as, "nowhere left to run".

Mon, 06/18/2012 - 18:24 | Link to Comment razorthin
razorthin's picture

You really need nothing more than paid-for acreage with a natural spring, ample forest for lumber and warmth, and wild game.  Any excess $ for laying chickens and milking goat and firearms with ammo.

Mon, 06/18/2012 - 18:24 | Link to Comment I am Jobe
I am Jobe's picture

But But I will miss Kardashians and my friends to hang out with .

Mon, 06/18/2012 - 18:25 | Link to Comment caimen garou
caimen garou's picture

I just can't see myself putting my money anywhere but at the bottom of the lake behind someones house that i cant remember......

Mon, 06/18/2012 - 21:38 | Link to Comment Mentaliusanything
Mentaliusanything's picture

The House of Goldman with Muppet Lake behind ?

Mon, 06/18/2012 - 18:26 | Link to Comment Thunder_Downunder
Thunder_Downunder's picture

Casey Research? What research went into this mindless rant. 

 

Doug.. you argue that inflation causes people to spend above their means... your argument is groundless and not even coherent. Good call.

 

You then argue the functional opposite of the trade behaviour of the USD.  It is a form of common settlement.. if theres a panic it will strengthen as it is the ONLY MEANS to settle 95%+ of the risk assets. $7T represents a TINY FRACTION OF CIRCULATING ASSETS... ALL THAT DEBT YOU JUST MENTIONED!

 

If the US wobbles, IT IS STILL THE ONLY FORM OF SETTLEMENT. What do you suppose will happen with $100T+ in paper competes for $7T in currency? 

 

FFS. Garbage analysis....

 

Mon, 06/18/2012 - 18:29 | Link to Comment world_debt_slave
world_debt_slave's picture

as I heard Peter Schiff state, "we have run out of road to kick the can"

Mon, 06/18/2012 - 18:34 | Link to Comment printmoremoney
printmoremoney's picture

People have lived their lives in a credit expansion bubble. They have no idea how bad it can get. Call it Di$ney Land.

I live in Costa Rica.

A) they don't have a facist army, pyschopath MIC complex (no army at all actually)

B) their local currency is the strongest in the world against the toilet paper US dollar. They did not float a trillion dollars of bond shit on top of shit.

C) Derivatives and Subprime are illegal for the banks to "speculate in". 

D) Banks are BBB+, higher than the TBTF Fraudsters, eh?

E) Soverign Debt is only one notch above Junk, but hey, no one is perfect.

F) It is a cash society. Credit runs about 30% a year, tends to discourage living beyond your means.

G) they grow their own food, and the place has great water, warm all year.

H) they don't look at Gringo's like we have 3 -heads.

I) you can buy land and assets here with the same rights as a citizen. Bank accounts are still easy to open in dollars and Colon.

J) if Casey is wrong, it is a 2.5 hour flight back to the MotherLand, big deal...

H) I have been in the real estate business for 8 years in the country and it is cheap right now. So, I have a that bias to announce...full disclosure!

I) nobody is trying to dirty bomb or 911 the place into FACISM.

J) you might get a good decade here before the TransNationals run over the place. China is giving them a run for their money.

H) WalMart bought all the grocery stores in the entire country 3 years ago, is that a plus? You decide...the shelves are full.

K) you don't have to learn Spanish to live here. Sign language gets you pretty far (I learned it, not that hard to learn survival spanish, anyway.

L) internet is fast and cheap and reliable, even in the remote areas.

M) cost of living is about the same as living in Denver, if you want the CUSH lifestyle. Scale down can live on $2,000 a month and get fat and drunk.

O) Healthcare is better than the US. 

P) Virtually no violent crime in the country side.

Q) the roads suck, potholes. The Central Government is clueless and a joke at collecting taxes. Those are PLUSES, by the way.

 

So, if any of you Pups want to live on the beach instead of a fallout shelter locked and loaded eating canned food, let me know. Or google/search the Pacific Northwest Coast on your own and prosper.

Mon, 06/18/2012 - 18:44 | Link to Comment The Gooch
The Gooch's picture

Pura Vida! Wait... Wal-Mart?

Mon, 06/18/2012 - 22:06 | Link to Comment printmoremoney
printmoremoney's picture

Yes, WallyWorld. Transnational bought out about 7 family-chains of grocery stores, kept their names for two years, now they are changing the signs. Once WALLY managed to buy one chain, the domino effect kicked in. You can only resist so long.  And there was resistance. CR barely passed CAFTA three years ago. By a hair. That would have been the first country on Earth TO EVER refuse a trade agreement with the Borg, err...I mean the USA.

Meanwhile, CR was voted near the top in the world for people living "happy lives". May not be high on the ZH Reader want list, but I needed that kind of chill to detox from Western Conditioning and brainwashing.

Costa Ricans are not dumb, they are just simply people that generally respect people, regardless of where they come from.

And the bonus is that when FUKUSHIMA blows, the Rads will likely stay way North.

It ain't paradise, but there might not be such a thing these days.

Mon, 06/18/2012 - 19:21 | Link to Comment BernankeHasHemo...
BernankeHasHemorrhoids's picture

Dude, you know and I know that what you are saying is correct. However the white trash trailer park meth addicts still think their trailer park is tops! They get food stamps and the latest batch of meth is cooking right now. You can never convince these idiots that there is anyplace else. They've seen nothing and they know nothing. Typical Americans.

Mon, 06/18/2012 - 20:18 | Link to Comment Ungaro
Ungaro's picture

Why would you want the meth-head, trailer park trash to live anywhere near where you are? Let them stay and keep collecting food stamps, trafiic tickets and fleas.

Mon, 06/18/2012 - 20:28 | Link to Comment TicoTiger
TicoTiger's picture

I've lived here for 25 years and agree with most everything you said. I also agree that knowing and having good relations with your neighbors is the only realistic way to go. Anyone who thinks he or she can bug-out to any new country on short notice and fit in with the locals is living in cloud cuckoo land. 

One thing you did not mention is that although many people in Costa Rica own handguns they don't have much ammo (it's very expensive) and few know how to use them.  Also, the police (there is no army) are not nearly as militarized as they are back home. That's just fine by me. I am no Mad Max type but it's comforting to know that I do have better weapons and more ammo than all of my neighbors put together. Hopefully I shall never have the need to use them.

On a personal note, printmoremoney, feel free to chat me and I'll buy you a cup of coffee :)

Mon, 06/18/2012 - 23:31 | Link to Comment sethstorm
sethstorm's picture

Anywhere that requires gated communities and private protection is a country that is worse than the US in any situation.

 

A) they don't have a facist army, pyschopath MIC complex (no army at all actually)

I) nobody is trying to dirty bomb or 911 the place into FACISM.

The country can be easily toppled over by the US.

 

H) they don't look at Gringo's like we have 3 -heads.

They look at them like potential kidnapping victims.

 

I) WalMart bought all the grocery stores in the entire country 3 years ago, is that a plus? You decide...the shelves are full.

They're full of junk. 

 

O) Healthcare is better than the US.

Only if you want to die sooner and not have any recourse against the person who made a mistake.  The US system doesn't have that defect.

 

P) Virtually no violent crime in the country side.

Unless you count all the ransoms and kidnappings that do happen. 

 

Q) the roads suck, potholes. The Central Government is clueless and a joke at collecting taxes. Those are PLUSES, by the way.

Until you actually need help(e.g. disasters, legal disputes with other people, kidnappings) that cannot be provided by anyone else other than a government.

Perhaps that country needs to have some more advice on how to collect taxes, even if it does require a military response.

Mon, 06/18/2012 - 18:37 | Link to Comment Lucky Guesst
Lucky Guesst's picture

Don't let the door hit ya in the ASS!!!!!

LOL Had to say it because it was my favorite statement that I read here last week from another ZH'r.

Mon, 06/18/2012 - 18:44 | Link to Comment dwdollar
dwdollar's picture

"Maintain significant bank and brokerage accounts outside your home country. Consider setting up an offshore asset protection trust. These things aren't as easy to do as they used to be. But they'll likely be much less easy in the future."

The worst possible thing to do. Every Jon Corzine wannabe in the world will be taking advantage of the "opportunity" to steal your assets when law breaks down further.

 

"Make sure you have a significant portion of your wealth in precious metals and a significant part of that offshore."

Gold offshore huh? When SHTF? You've got to be fucking kidding.

 

"Buy some nice foreign real estate, ideally in a place where you wouldn't mind spending some time."

Like everyone can afford that? Haha... Besides, are you really going to trust strangers in a foreign land, who speak a different language and/or worship a different god and/or consider themselves a different race over family and friends???

 

"Work on getting official residency in another country, as well as a second citizenship/passport. There's every advantage to doing so, and no disadvantages. That's true of all these things."

Same as 3.

Mon, 06/18/2012 - 18:42 | Link to Comment icanhasbailout
icanhasbailout's picture

Does anyone seriously think there will be a country that is both desirable to live in and will escape unscathed from this global economic crisis?

Those that do, I don't think they really have a solid big picture understanding of what's going on.

Mon, 06/18/2012 - 18:46 | Link to Comment jomama
jomama's picture

chile.

Mon, 06/18/2012 - 18:55 | Link to Comment kito
kito's picture

right, chile..the utopia that our friend simon touts......because their history has been so stable...no dictators....etc....

Mon, 06/18/2012 - 19:17 | Link to Comment BernankeHasHemo...
BernankeHasHemorrhoids's picture

Here is difference between Chile and the US. Chile has left totalitarianism behind while the US is heading further and further into it. I know which one I would take.

Mon, 06/18/2012 - 20:29 | Link to Comment mjk0259
mjk0259's picture

Bigger earthquakes too.

Mon, 06/18/2012 - 21:37 | Link to Comment malek
malek's picture

Not sure if this is a very funny joke or a display of abject stupidity.

Mon, 06/18/2012 - 19:39 | Link to Comment sethstorm
sethstorm's picture

Which can easily be rolled over by the US on a whim?

Mon, 06/18/2012 - 19:24 | Link to Comment cougar_w
cougar_w's picture

Depending on how you count, there are around 195 sovereign nations in the world. Most of those nations are classified as "developing". The people living in those nations have only a fleeting idea there is any kind of crisis going on at all. Apart from their own elites have little if any local skin in the game. And after a massive collapse into global depression they will roll on just fine as if this thing called "the global economy" never happened.

Because they never got a ticket to board the global economic Titanic.

All of Europe plus the US is still a small fraction of the world. China and India are huge but most of their people are still living very simple lives close to the land. We call them backward and third-world today, but all they are is slightly ahead of the curve that is now coming at the rest of us like a run away train on crystal-meth.

After 200 years of unbridled development and resource exploitation we have further to fall. Much further. In fact from this height it is not certain that we will survive the fall at all as an organized block called The Western world.

 

Mon, 06/18/2012 - 18:44 | Link to Comment Animal Cracker
Animal Cracker's picture

It is much harder to move to a foreign country and get a passport than some would have you believe.

Why do you guys always act like it's something the average Joe can just do if he wants to?

Do NOT follow this link or you will be banned from the site!