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Asset Protection and Wealth Management Using Bitcoin

Caribbean Region- April 22, 2013—Global Capital Protection, Inc. ("Global Capital Protection"), a leader in Asset Protection and Wealth Management, based in the Caribbean, has added Bitcoin as a method of payment for their services. Global Capital Protection offers offshore asset protection consulting services and wealth preservation structures such as international company formations (IBC's, LLC's, Trusts and Foundations), bank accounts and commodities/securities brokerage accounts along with an exclusive list of hand-picked private equity investments from which to choose.

As concerns for financial privacy grow greater every day, the inherent privacy and encryption of Bitcoin coupled with the offshore asset protection and wealth management expertise offered by Global Capital Protection can prove to be valuable tools in the battle against intrusive governments, serial litigants and identity thieves.

Are you a Financial Prepper?

Doomsday preparedness is all the rage right now. Average, unassuming households with backyard bunkers, stockrooms housing enough stores to supply a Super Walmart and arsenals that would make a third-world nation green with envy. Sunday afternoon BBQ's give way to carefully orchestrated bug-out drills and backyard fashion shows featuring the latest chemical and survival suits.

A well rounded survival stash consisting of food, water, first-aid items as well as tools for maintaining, rebuilding and defense are carefully inventoried and maintained in good working order. Barter items; equally important in the event of a monetary collapse, not only gold and silver but extra tools, seeds, medicine, all make valuable negotiating tools stored securely. A portable cache of barter items stowed in bug-out bags should the bunker be in danger of being compromised. This leads to the question: Do you abandon the bulk of your long and hard earned wealth? No question, a small price to pay for the safety of your your family, but what step can you take to diversify that wealth for access later down the road? Sure you could bury 'treasure chests' with coordinates only known by you and your family, but what do you do in the event your home country, state, city is physically uninhabitable, or unfavorable (too dangerous) for your eventual return? What if your stash is discovered and looted? Do you establish and maintain multiple physical stashes? In many instances multiple physical stashes may be logistically impossible. So what are your options?

One important part of the answer may very well be multiple bank accounts in multiple foreign jurisdictions. Multiple foreign accounts, for the most part are easy to setup and can be done almost entirely over the phone, internet and international courier (for sending documents, please don't send a pile of cash via courier). Whether the accounts are US Dollar, local currency, or one of the other major currencies such as Pound Sterling and Euro, multiple accounts makes sense in most doomsday scenarios short of mass global extinction. In the event of mass global extinction, retrieving your stash won't be on the top of your priority list any time soon! But, for most other situations, the ability to flee to a safe place and access your assets without having to lug gold, or cash with you is invaluable, not to mention a much safer option.

As mentioned, setting up your foreign accounts is very easy in most jurisdictions and require few hoops to jump through with low to moderate fees associated with setting up the account. Take time to figure out where you want your accounts to be. If your doomsday scenario concerns are those of natural disaster, such as rapidly rising sea levels, then a Swiss account may be the choice for you and a Caribbean Bank, out of the question. If your concern is geopolitical instability, some happy little, unassuming Caribbean Island Nation who doesn't say boo to anyone might be just right and since it would be considered a very low value target, likely won't be caught up in political fallout. If you have family concentrated in a certain area of the world, then an account near them may be in order.

Do remember that all foreign accounts need to be reported to the IRS along with any interest income derived from them, so familiarize yourself with the ins and outs of the tax code concerning offshore bank accounts to avoid any possible run-ins with the tax man. Ignorance is not an excuse so do your homework, and enjoy your peace of mind knowing you have money waiting for you should you and your family need to engage your doomsday bug-out plan.

International Banking and Offshore Finance for the Rest of Us

In a media storm of: "big bad corporations shelter billions in offshore tax havens", one would think that you either have to be a "big bad corporation" or a "money grubbing 1%'er with an overwhelming penchant for hiding money" in order to have an offshore bank account. Nothing could be further from the truth. Nearly anyone can and should utilize the services of an offshore bank.

Why would you want to keep your money in an offshore account you say? One of many reasons could be concern for domestic bank stability, and unless you've been under a rock for the last several years, you are likely more than a little weary of domestic bank stability. And as of January 2013, the FDIC is rolling back coverage on individual accounts to a cap of $250,000. This is likely not an issue to most of us, but what's the bigger picture here? What does this say about the solvency of the FDIC? How many near-simultaneous bank failures will it take to bankrupt the FDIC completely? What other policy changes are there that could; in the event of multiple bank failures, effect your hard earned life savings?

You've heard about diversifying your assets, between stocks, cash, and hard assets such as gold and silver, but what about diversifying your banks? I'm not talking about opening an account at your local Savings and Loan and an additional account down the street with CitiBank, I'm talking about diversifying your banks in different countries. Don't worry, I'm not suggesting you head out and convert half of your life's savings to Icelandic Krona, you can keep your money in US Dollars, just don't keep those US Dollars in a US Bank. Think about it, you wouldn't keep your entire life's saving in one company's stock, or one mutual fund with one investment company would you? At least I hope you wouldn't! (Bernie Madoff Investment Securities ring a bell?)

Many international banks offer great lines of product with fantastic rates of return designed specifically to attract depositors with US dollars that just don't exist domestically. Many of these programs are only available to account holders. Even if your credit rating has taken a beating in recent years, you may still be eligible for mortgage financing from your offshore bank when domestic banks won't even look at you. Granted, the money may be pricey and may have steep equity requirements, but when no domestic lending institution will even give you the time of day...any financing is better than no financing.

There are inherent risks with having your money in an offshore bank so take your time, do your homework. Just as you wouldn't put your money in a domestic bank that appears unstable, or is on the FDIC list of troubled banks, you probably would be well served to stay away from banks like the First National Bank of the Democratic Republic of the Congo. No matter what fantastic rate they offer you! Find a good bank, in a good jurisdiction. Want to know why Swiss banks look so attractive to wealthy account holders? You would think from listening to the talking heads on the major network nightly news programs it would be hiding money...think about that one for a moment: Would you consider a place that has been demonized on the nightly news year-in and year-out; and that is known by absolutely everyone, a good hiding place for money? So what makes you think these wealthy account holders aren't using the same logic? They didn't become wealthy by making mistakes with their cash, that's for sure. The number one reason for using a Swiss Bank is simple: they're really good at banking. In fact, they've been doing it for longer than the US has been the US, and are rock-solid stable. In fact, when was the last time you heard of a Swiss bank failure, collapse or a call for a bailout of the Swiss banking system?

And what about staying out of trouble with the IRS? Guidelines change all the time, so be sure to check, recheck and understand them thoroughly before sending your money to a foreign bank account. If you follow the guidelines, do your homework and report your offshore holdings, you can enjoy your offshore account hassle free for many years to come!

Outside News

John White

The Feds Want Your Retirement Accounts

Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag.

Last January 18th, in a little noticed interview of Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency's first foray into consumer investments." That thought generates some skepticism, as aptly expressed by the Richard Terrell cartoon published by American Thinker.
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Richard Rahn

Economic judgment day - End of spending is closer than we think

The current debate about the debt vote is minor league compared to what will happen when the government literally cannot spend more than it is taking in. That time may be nearer than you think. It is true that the U.S. government can always “print” money to pay its bills, but at some point, printing more money becomes self-defeating because the resulting increase in the government bond interest rate and required interest payment will spiral out of control. At that point, the government will be forced to operate on a pay-as-you-go basis, as any individual or business is forced to do when they can no longer get credit. Several California cities are now in this situation.
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Hans-Hermann Hoppe

Obsessed by Megalomania

Are taxes nothing but protection money? The state a kind of mafia? Democracy a fraud? Philosopher Hans-Hermann Hoppe is not only considered one of the most prominent pioneering intellectuals of the libertarian movement, but also perhaps the sharpest critic of the Western political system.
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Mark Steyn

Two moths of arguing over 10 hours of savings

The politics of the "fiscal cliff" deal is debatable: On the one hand, Boehner got the "Bush tax cuts" made permanent for most Americans; Obama was forced to abandon his goal of increasing rates for those earning $250,000. On the other, on taxes Republicans caved to the same class-warfare premises (the rich need to pay their "fair share") they'd successfully fought off a mere two years ago; while on spending the Democrats not only refused to make cuts, they refused to make cuts even part of the discussion.
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Richard Rahn

Obama's Hidden-Tax Heist

How is it possible that the government can spend almost twice as much as it takes in without having high inflation? The fact is that over a long period of time, it can’t. In the short run, which can be a few years, the government can paper over its fiscal irresponsibility by expropriating most of the productivity gains in the private sector through regulatory and central bank actions. This is precisely what has been happening in the United States.
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Penalized for Success

Last week, Christine Jacobs, the CEO of Theragenics Corp., a public company listed on the New York Stock Exchange that makes medical devices and is involved in cutting-edge cancer cures, wrote a letter to President Obama explaining why it was necessary to “begin moving our U.S. manufacturing to Costa Rica.” The power players in Washington still do not get that many businesses are being forced to flee America or just plain shut down because it is no longer profitable or too risky to continue to do business in the historical home of entrepreneurial capitalism.
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Belize to sign agreement restructuring its large commercial debt.
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Exim Bank of India extends lines of credit to Seychelles
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Seychelles and South Africa

Seychelles and South Africa form a strategic alliance
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