Saturday, April 01, 2006

Going Offshore With Your Assets

Bob Bauman is the editor of the excellent Sovereign Society Offshore A Letter.

You can subscribe for free.

As much as I dislike the word should, maybe it fits here. Let's just say instead that there is great benefit for intelligent people to be derived from reading the A Letter.

today's newsletter was a "back to basics" missive.

What is offshore?

Offshore is another jurisdiction that affords asset protection from frivolous law suits and sometimes provides lower taxes. Here is a quote from the most recent A Letter:

Just as some American states (Florida, New Hampshire, Alaska et al) offer their citizens an escape from other states' income taxes, offshore tax havens do the same for foreigners. These are tax breaks local citizens can only dream about, but the locals do profit from better jobs and higher incomes. (The two largest tax havens in the world are the USA and the UK -- but only for non-citizens who choose to invest there; locals pay taxes, lots of them).

As an example California residents frequently incorporate their companies in Nevada to avoid harsh taxes and regulations. Even selecting your new home based on the quality of the school district is a localized "offshore" approach.

Abe Lincoln mentioned America as a government "created of - by - and for the people." Many see that quote as only a historical observation. Over the last hundred and fifty years American government has increasingly treated citizens like cattle.

America started free and wanted to stay free.

"Where liberty dwells, there is my country." - Benjamin Franklin

America, and the western world, has traded their liberty for government programs. You can now see the cattle mooing in protest around the world because they don't receive government guarantees.

"Government is the great fiction through which everybody endeavors to live at the expense of everybody else." - Bastiat

Those that feed at a government trough must expect to be herded, penned, branded, milked, and/or slaughtered. I can't help but believe a lean elk wandering the mountains is more fulfilled than a calf being fattened in a stall.

Back to the A Letter.

A certain few nations and places have got it figured out. They have set up a legal system that makes them stand out as places that attract money -- truly desirable offshore financial centers. Detroit and Japan are known for making autos for the world, (at least Detroit used to be), offshore centers protect cash and make money for the world. They cater to foreign folks and foreign cash with laws that guarantee privacy, asset protection, ease of doing business and profitable investments -- with little or no local taxes. That international tax competition is great for those wise enough to take advantage of it.

That was just part of an interesting article.

I present an idea to you, one contrary to the years of conditioning you received in public schools. In feudal times when a knight pledged to his baron - the baron also pledged back to the knight - it was a mutually agreeable exchange of dedication, not a one sided deal.

If you are married - you are mutually pledged to your spouse. Make all your commitments on this basis. Do not be more dedicated to your baron, your job, your school, your country - than your baron, job, school, or country is dedicated to you.

It is not disloyal to move elsewhere, when where you are treats you like branded cattle.

Subscribe to the free A Letter.

The information may help you discover some personal liberty in a world that increasingly believes you are property.

"The risks and rewards for you from creative entrepreneurship are greater, and of far more value to society, than illusions of security that enslave a human cog in a social machine." - Allan R. Wallace

Now, let's go out and wander some mountains.

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