Many people are not aware of the incredibly dire, impending risks of holding your assets in the Western world in the immediate future. Mainstream media will not tell you about much of this. Politicians and government definitely won’t.
But, this is all factual information, all from government sources, in fact, with references that paints a very clear, dire picture. The picture couldn’t really be any clearer once you see this information.
Here is just the top five of literally dozens of reasons why you should be looking to secure your assets now.
1. The International Monetary Fund (IMF) has just recently announced (as outlined here) that due to government debt levels in developed (read: Western) countries being at 200 year highs that there will be severe “financial repression” necessary. What do they define as severe “financial repression”? They give a number of possibilities including outright debt default (which will cause a financial system collapse) or an “inflationary surprise” (hyperinflation, destroying the Western currencies). In either case, having your assets in a bank or brokerage account in the West will likely lead to near destruction of your money/capital.
2. FATCA (Foreign Account Tax Compliance Act). Not many Americans know anything about this but if you do have money or assets outside of the US, you already are supposed to file a FBAR (which essentially means, ‘tell us where your money is’) and a Form 8389 (which essentially means, ‘tell us where your assets are’). Failure to file is punishable by extreme fines. To make matters worse, if you don’t have any assets or money outside of the US, FATCA is coming into effect in July, 2014 and will all but make it nearly impossible to expatriate your assets (all of this is explained here).
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