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.
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.)