Happy Thanksgiving

Just wanted to wish American readers of Offshore Safe Deposit Boxes a Happy Thanksgiving.

New material will appear on the blog Friday.

Thank you for your continued readership and support (that applies to everyone!).

Christopher E. Hill
Editor

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List Of Offshore Private Vaults Updated

The list of private, non-bank vaults outside the United States (offering safe deposit boxes/lockers at a minimum) located on this blog’s sister site- Offshore Private Vaults- was recently updated.

Safe deposit facilities have been added under the following countries:

• Israel (Brickstone Private Safe Services, Tel Aviv)
• Latvia (Rigas Seifi, Riga)
• Liechtenstein (Trisuna Lagerhaus AG, Triesen)
• United Arab Emirates (MySafe, Dubai)
• United Kingdom (Edinburgh Vaults, Edinburgh, Scotland and Nottingham Vaults, Nottingham, England)

Any facilities I missed? I’d be grateful if you let me know about them. In the meantime, readers can view the updated list of offshore private vaults here.

Christopher E. Hill
Editor

(Editor’s note: The mention of a particular business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Sovereign Man Simon Black: ‘Have Some Non-Reportable Assets’

Regular readers of Offshore Safe Deposit Boxes know I’ve brought up Simon Black of Sovereign Man website-fame occasionally. Black is an international investor, entrepreneur, “permanent traveler”, and self-described “free man.” I’ve been following his work for some years now for his insights on offshore asset protection. And yesterday, a post entitled “100 billion reasons to have non-reportable assets” appeared on his blog. Those “100 billion reasons” referred to a low-end estimate of the billions of dollars Black claims the cash-strapped government of Saudi Arabia will seize in their ongoing anti-corruption purge. He surmised:

Saudi Arabia needs cash. Now.

So over the past few weeks they’ve found their source: theft.

Under the guise of a ‘corruption crackdown’, the government of Saudi Arabia has arrested hundreds of its wealthiest, most prominent citizens, and frozen more than 1700 bank accounts.

Black paralleled the Saudi situation with the United States. He added:

This is really no different than Civil Asset Forfeiture in the Land of the Free, the legal framework where countless federal, state, and local agencies have the authority to seize and freeze every asset you own without even so much as charging you with a crime.

(They can even take your kids away!)

I think there’s a pretty big lesson here: desperate governments almost invariably resort to stealing from their own citizens.

And that’s why one step in a Plan B is to have some non-reportable assets.

(Editor’s note: Bold added for emphasis)

One of those “assets that you’re not legally required to tell them about” mentioned was precious metals.

Black has discussed physical gold- and offshoring it- on the Sovereign Man website before. A little over three years ago I blogged:

Simon Black of Sovereign Man-fame talked about that additional line of defense with storing physical gold overseas. He wrote Wednesday on his site:

I’ve long been an advocate of moving a portion of one’s savings overseas.

After all, what’s the sense of leaving 100% of your assets within a country ruled by a morally and financially bankrupt government that treats you like a dairy cow?

Moving some of your gold abroad to a jurisdiction that prides itself on maintaining a high level of financial security and privacy protects you against legal thievery your government might commit against you.

Sure, it’s a risk that might never come to fruition. But you won’t be worse off for having stashed some of your gold away privately in a safe, stable jurisdiction…

(Editor’s note: Bold added for emphasis)

“What’s the sense of leaving 100% of your assets within a country ruled by a morally and financially bankrupt government that treats you like a dairy cow?”

Some would argue this applies to good old Uncle Sam. However, while I believe the American Republic is in real danger of becoming “morally and financially bankrupt”- we’re not quite there yet.

That being said, if we continue down the same path we’ve been on for a while now, that gold of yours could look pretty tempting to the Feds.

All-in-all, another fine piece by Simon Black, which you can read in its entirety here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Silver Bullion Article ‘Why Choose A Private Offshore Vault’

It’s been some time since I last mentioned The Safe House (TSH), a Singapore private, non-bank vault with safe deposit boxes. The facility is a subsidiary of the award-winning bullion dealer Silver Bullion, and while on their site earlier today I stumbled upon an article from late August entitled “Why Choose A Private Offshore Vault.” Gregor Gregersen (founder/CEO of The Safe House and Silver Bullion) and Srdjan Seva (Business Development at Silver Bullion) wrote:

When choosing a place to buy and store gold and silver bullion, there are several aspects that need to be considered, especially for those who are new to storing their precious metals. Physical precious metals are almost always purchased for the purpose of wealth protection but how good is such ‘protection’ in a systemic crisis?

(Editor’s note: Bold added for emphasis)

Gregersen and Seva hammered home two important points regarding the above. The first being:

When purchasing precious metals with a plan to physically own and store in a vault, it is important to make sure that buyers are the legal title owners of the stored bullion rather than just creditors being owed bullion.

(Editor’s note: Bold added for emphasis)

Second, and no less important:

Diversifying the country risk by storing precious metals offshore in a safe jurisdiction is one the most important aspects of wealth protection against seizures, nationalizations or other forms of confiscations in the home country.

(Editor’s note: Bold added for emphasis)

For Gregersen and Seva, a “safe jurisdiction” can be defined as having:

A clear rule of law especially when it comes to the respect of private property rights, has enough economic and military power to defend its sovereignty and which is strong enough to actually enforce its laws.

(Editor’s note: Bold added for emphasis)

Based on this criteria for a “safe jurisdiction,” I suspect a number of countries with safe deposit box facilities outside the banking system might fall short.

An informative and insightful read, which can be found here on the Silver Bullion website. For more information about The Safe House, visit their website here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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No More Than 4 Years Left To Implement Effective Asset Protection Plans?

Last week I brought up a recent article by Mark Nestmann entitled “‘Asset Protection’ Isn’t A Scam” in which the offshore expert made some solid arguments in defense of Americans’ legal use of asset protection, which includes offshoring.

Since that time, I’ve come across a related piece by Olivier Garret on Forbes.com. Who is Garret? From his Forbes Contributor bio:

I am founding Partner and CEO of Mauldin Economics and Garret/Galland Research, leading publishers of financial research geared to individual investors and institutions. In 2012, I launched the Hard Assets Alliance, a revolutionary trading platform for precious metal investors. In addition, I’m managing partner of three hedge funds invested in the resource sector. Between 2007 and 2015, I was CEO and Partner of Casey Research, a publisher of financial research focused on the resource sector. The company was successfully sold to Stansberry & Associates in May of 2015…

Back on August 2, Garret penned an article entitled “Every Investor Is One Misstep Away From Losing Everything — And It Has Nothing To Do With Crashes” which should give Americans with even modest wealth pause for thought. Garret warned of increasing threats to personal assets posed by the legal system and desperate politicians hunting money in an era of growing class warfare and attraction to socialism in the United States. He wrote:

Whether or not we like President Trump, his election may have handed us a short-term reprieve from the collectivist movement in the US. Long term, though, I believe the US is on an inevitable path toward more socialism.

To fill its empty coffers, state and federal governments must take assets from savers, entrepreneurs, and hard-working professionals.

Why?

Because the U.S. lacks the political will to reduce its debt burden and make meaningful cuts to programs or benefits.

Anyone who has accumulated a bit of wealth has a very short window—probably no more than four years—to implement well-structured asset protection and estate plans.

(Editor’s note: Bold added for emphasis)

A thought-provoking piece by Olivier Garret, which you can read here on the Forbes website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Tel Aviv’s Brickstone Private Safe Services Featured On ILTV Israel Daily

One private, non-bank vault offering safe deposit boxes that I recently learned about is Brickstone Private Safe Services in Israel. Located in the financial center and technology hub of Tel Aviv along the Mediterranean coast, I understand that Brickstone is the first and largest facility of its type in the area. The business was established by two attorneys, Dvir Indig and Itai Gazit, with full support from the British Balthorne company. From their website:

In Israel, before the establishment of Brickstone, vault services were only provided by banks…

What is the difference between you and a bank?

The difference is large and significant, and relates to almost every parameter: longer opening hours, no limit to the number of visits, level of protection of the safe and the variety of security mechanisms of the entire guarded compound, and, in addition, Brickstone offers additional premium services, such as personal accompaniment of the client and meeting spaces in the guarded compound, all of which are at a level of service and discretion that, until now, only existed in the United Kingdom.

In late September, Mr. Indig appeared on ILTV Israel Daily. He went into more detail about the vault with news anchor Natasha Raquel Kirtchuk:


“Adv. Dvir Indig, CEO of Brickstone – Sep. 25, 2017”
YouTube Video

Intersting. It sounds like Israel is yet one more country where banks are getting out of the safe deposit box business.

Brickstone is also a member of the Safe Deposit Federation (SDF), “a self-regulating federation of independent safe deposit box companies.”

Offshore Safe Deposit Boxes wishes Brickstone Private Safe Services all the best with their facility.

For more information about Brickstone, head on over to their website here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular business/organization should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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