The U.S. government is so out of control that even mayors are speaking out…and comparing what’s happening to Nazi Germany.
Recently in San Francisco, California, Stockton mayor Anthony Silva experienced a travel delay that too many Americans can relate to. Silva had attended a mayor’s conference in China. On his return, federal agents detained him and confiscated his belongings, which included electronics and a cell phone. Silva told the press the most alarming part:
Unfortunately, they were not willing or able to produce a search warrant or any court documents suggesting they had a legal right to take my property….In addition, they were persistent about requiring my passwords for all devices.
Silva’s attorney told reporters that the agents wouldn’t allow the mayor to leave the airport without giving up his passwords. In response, Silva said:
I think the American people should be extremely concerned about their personal rights and privacy. As I was being searched at the airport, there was a Latino couple to my left, and an Asian couple to my right also being aggressively searched. I briefly had to remind myself that this was not North Korea or Nazi Germany. This is the land of the Free.
Longtime Casey Research readers are familiar with our warnings on how sociopaths in the U.S. government are wrecking what made America great in the first place.
And it’s not just at the airports…
Dozens of government agencies now have the power to lock up all your bank accounts in the U.S., all your brokerage accounts in the U.S., and even your home, based on the flimsiest hint that something might be wrong.
It doesn’t matter what the underlying allegation is about - taxes, drugs, food safety, the environment, or something else.
It doesn’t even take a real allegation to make it happen.
A single government employee’s suspicion or ill will is enough to push the bureaucratic launch button and start your nightmare.
They act without warning, and they can strip away all the cash from your U.S. bank accounts and all investments from your U.S. brokerage accounts without waiting for a hearing, a trial, or any other token of due process.
If it’s in the U.S., it’s theirs, whenever they say it is.
Yes, after they strike, you can go to court to get your property back - but how will you hire a lawyer if they’ve frozen your bank account? And how will you pay your bills while the legal process is grinding on?
Forget what you learned in civics class. Sometimes a government agency just wants the property.
The Institute for Justice concluded, “Under modern civil forfeiture laws…filling law enforcement’s coffers is often the primary purpose of the seizure.”
They can easily pick up any assets you keep in the U.S.
The Ultimate Protection from an Out-of-Control Government
If you’re alarmed by the growing threat - from your own government - to your personal freedom and financial health, I can’t blame you.
You’ve seen the crowded parade of new laws, taxes, and regulations recently passed or now in the works.
In fact, I’m afraid that, as financial resources shrink and government deficits rise, the grab for money will become more desperate. Governments will go beyond taxation and reach into retirement funds and into depositor accounts at banks to ask for help.
Events around the world show that capital controls, income tax hikes (to rates as high as 75%), debt monetization, nationalization of private pension vehicles, bail-ins and bank deposit confiscations, and other futile but destructive options aimed at your money will be used by cash-strapped governments.
No matter how well protected your government tells you your money is, how comfortable can you really be if it’s all in one country?
Most people understand that it’s foolish to keep all their eggs in one basket. Yet they fail to go far enough in applying the principle. Portfolio diversification isn’t just about investing in multiple stocks or in multiple asset classes. Real diversification - the kind that keeps you safe - means holding assets in multiple countries, so that you’re not overexposed to the economic and political risks that are present in every country.
Doug Casey, founder and Chairman of Casey Research, has said pointedly that spreading your political risk beyond a single jurisdiction is the single most important thing he can recommend today.
In short, international diversification is prudent because it frees you from absolute dependence on any one country. Achieve that independence, and events or policies in any country can never dominate your life.
Wealthy families have been doing it for centuries. Today, with modern communications, international diversification is within everyone’s reach.
You don’t even have to leave your living room to do it.
A big part of this strategy is to place some of your savings outside the immediate reach of the thieving bureaucrats in your home country. Obtaining a foreign bank account is a convenient way to do just that.
That way, nobody can easily confiscate, freeze, or devalue your savings at the drop of a hat or with a couple of taps on the keyboard. In the event the government imposes capital controls, a foreign bank account will help ensure that you have access to your money when you need it the most.
Your savings will largely be safe from any madness in your home country.
A foreign bank account will be beyond the reach of no-warning seizures by any of the many agencies that grab property first and then dare you to prove they’ve made a mistake. If you ever find yourself in a wrestling match with a government agency or with a frivolous lawsuit, you’ll have resources you can count on.
Despite what you may hear, obtaining a foreign bank account is completely legal. It’s simply about putting your liquid savings in sound, well-capitalized institutions where they’re treated the best.
You may want to check out Going Global 2015. It’s our comprehensive publication where we discuss our favorite banks and jurisdictions for banking, including, crucially, those that still accept Americans as clients and allow them to open accounts remotely for small minimums.
New York Times best-selling author Doug Casey and his team describe how you can do it all from home. And there’s still time to get it done without extraordinary cost or effort.
Normally, this get-it-done manual retails for $99. But we believe this book is so important, especially right now, that we’ve arranged a way for U.S. residents to get a free hard copy mailed directly to their doorsteps. International residents will only receive the e-book. Click here to secure your copy now.