We hate being right.
After all, we have been predicting that people in the US and most of the western world will soon find themselves living in a Terminator-esque world where they will be tracked every moment of the day (US Government Builds World’s Biggest Domestic Spy Complex), 1 the US Government can jail indefinitely and even kill its own citizens (NDAA Bill Can Send Americans to Prison Indefinitely Without Trial), that the assets of westerners will be taken and consumed by their vampire overlords (France mulls 100% tax rate), they will be restricted in their ability to travel outside the country (Congress about to pass a bill that restricts travel and revokes passports with no trial) and it will be impossible to get your money outside of the country to protect it from confiscation (capital controls).
On the topic of capital controls we had predicted what is now happening. We’ve been writing about it for some time. The only thing that has surprised us is the speed in which it is all happening. We are rarely shocked but we have been surprised at the speed with which the world’s banks have stopped accepting US citizens as clients.
It was only a few weeks ago that we penned, “International Banking Options for Americans Closing Down Fast” and stated that our sources had notified us of at least one bank (in Latvia) which has stopped accepting US clients because of the rules put in place by the IRS in the Foreign Account Tax Compliance Act.
That was then, this is now. Here is just one man’s recent statement:
“I don’t open U.S. accounts, period,” said Su Shan Tan, head of private banking at Singapore-based DBS, Southeast Asia’s largest lender, who described regulatory attitudes toward U.S. clients as “Draconian.”
The phone has been ringing off the hook at TDV Media and Service’s headquarters. Nearly hourly word has come in of another bank that has stopped accepting US clients. Some have even started closing accounts for US clients… a trend we definitely expect to continue.
Don’t believe us? Check out this article from the San Francisco Chronicle. They only got one thing wrong. The title of the article is “U.S. Millionaires Shunned by Banks as Tax-Evasion Law Looms”. But, it’s not just millionaires. It’s all US citizens with a foreign bank account.
It’s a bloodbath. People who make their living off of helping US citizens set-up foreign bank accounts to diversify some of their assets outside of the country are closing shop… all in the last few weeks. They are walking away from their honest, often decades-old business like victims of a bomb blast… in shock.
We feel very bad for them but we knew this was coming and have been hiring people almost daily to help out with the demand. If you are a US citizen and have money in a foreign bank account that you would like to keep there, expect a call any moment. It’ll be the bank and they’ll tell you that you have 72 hours to close your account and to tell them where to send the funds. If you don’t want to send it back to the US where Barack O’Bomber already has grand plans for how to spend it then your options are seriously limited.
But, here’s the good news, there is still options. Here are just a few options that are still on the table:
Even if you don’t need any of these types of services at this time, but it is finally dawning on you that the fiscal cliff is approaching very quickly and want to be prepared for what is to come, all of this type of information is the main focus of The Dollar Vigilante newsletter. Subscribers are regularly updated with news, analysis and info for how to survive the coming western financial system collapse.
SELF INTERESTED SCARE MONGERING?
You may be thinking, “this guy just seems to be trying to scare us and promote his own products”. If you’ve followed my writing for any length of time you will know that I’ve been writing about these events for years. And, up until recently we didn’t even offer products. We began writing The Dollar Vigilante two years ago because the writing on the wall had become clear and we wanted to help as many as possible to survive the coming western nation-state and financial system collapse… but we were inundated with emails asking us, “Ok, we agree with your prognosis but what can we do to protect ourselves?”
It was then that we began scouring the world looking for second passport and offshore bank account services and found them lacking. We looked for other information such as is included in Getting Your Gold Out Of Dodge and came up empty. That’s when, as good entrepreneurs and capitalists, we decided to offer the products ourselves. That’s what good capitalism is about… finding ways to help people in need.
The monetary system that the world has lived under for the last 41 years, since the US went off the pseudo-gold standard in 1971, is entering the end game. And we are sorry if we need to be so abrupt in trying to wake you up to it. But, to show you the kind of brainwashing and psychological issues we are regularly up against, here is a conversation we recently had from a woman who had called us to see if she really needed to make her move to protect herself ASAP:
Jane: I just don’t believe it is that urgent. There is nothing on the nightly news about this… and my financial advisor says there are green shoots and we are in recovery.
TDV: What would it take you to realize that it was time to get out of the US?
Jane: I’m not leaving until they shut down the border.
We sat there speechless for about a minute after that one. She has normalcy bias. And, normalcy bias is very dangerous in times like these when everything is about to change.
We suggest you don’t wait until the borders close to get out. And, this is not just a US phenomenon. The entire west will follow in its footsteps… and other nationals as well, such as the Chinese, also should see the need to internationalize themselves (and they do, “China’s Millionaires Looking For Way Out”). There is already a wall around China, don’t wait until there is one around you before you start taking the steps necessary to protect yourself from leviathan.
Jeff Berwick, a self-described financial freedom fighter, is the founder of Canada's largest financial website, Stockhouse.com. He now writes the libertarian, Austrian-economics based newsletter, The Dollar Vigilante and is a regular speaker at many of the world's most important investment, resource and freedom-focused conferences where he is known as the most dangerous man in finance.
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I put a portion of my cash that were in foreign bank accounts into bitcoins. Best move I ever made.
“Jane: I’m not leaving until they shut down the border.”
What. A. Moron.
Time to hi-tail it out of the empire. E-Mail will be heading your way.
FYI, see where one of the co-founders of Facebook tossed his US slave er…citizenship papers?
Needless to say, the sheeple on Yahoo are hurling all the usual Communist epithets at Saverin.
That, more than anything else, pushed me off the dime. That, and now millions more sheeple might get their eyes opened on the greener and freer pastures outside the Empire’s prison, the lines are going to get long fast.
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Kudos Mr. Berwick: Excellent expose’
During his previous campaign our great leader President Barack Hussein Obama promised a …….”domestic security force larger than the US military.”
Should he get a second term he will bring a communist revolution to a neighborhood near you.
Right on Mr. Berwick – WRITE ON!
P.S.: Bravo Mr. Lendman: Well done!
The NATO meeting in Chicago is a practice run for martial law under our great leaders Emergency Act.
Should Nobel Peace Prize winner President Barack Hussein Obama get a second term he will bring a communist revolution to your neighborhood.
RIght on Mr. Lendman – WRITE ON!
Respectfully, Yoda / US Air Force -&- US Army veteran.
Okay, let’s get this straight: The scum who engineered this crisis, and got bailed out by the 99%, then stashed the spoils in foreign banks. Now, they are afraid that the 99% are going to come looking for their stolen futures and insist that the thieves be brought to justice. So, like rats deserting a sinking ship, they are looking for a way out, absconding with the spoils of their crimes. Typical scumbag criminal behavior. Your arrogance won’t let you see what kind of vermin you have become. Scurry away, little rats, before The Man comes and gets his cheese.
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Gman, clearly you have little understanding of history and/or how brutal govts can be when they decide to implement totalitarian controls.
Anyone with half a brain would have bailed from the US in the last 5 years and gone elsewhere.
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