[Featured Image: The Euro on the decline: should we really be surprised by the Swiss central bank policy change that rocked markets worldwide last month? This chart shows we had plenty of warning.] See How Fast Could a Crisis Wipe You Out? – Part I. The EUR/CHF currency shock was unexpected in its timing, but ... Read More
See How Fast Could a Crisis Wipe You Out? – Part I. The EUR/CHF currency shock was unexpected in its timing, but anyone could look at a currency chart and see the euro’s massive decline over the last 3 & ½ years. Cyprus’ surprise seizure of its citizens’ bank deposits was preceded by a huge ... Read More
Three Minutes! On January 15 earlier this year, that’s how long it took for the euro to drop an astounding 17% versus the Swiss franc (“CHF” in foreign exchange, a.k.a. “forex” terms). Later that day, the euro/CHF currency pair dropped as much as 39% due to the surprise announcement by Switzerland’s central bank that it ... Read More
In my last article, I discussed the Foreign Account Tax Compliance Act (FATCA) as well as other foreign banking disclosure laws which U.S. citizens and residents must deal with. I also discussed our enormous federal debt, and why placing a nest egg offshore may someday be necessary to one’s financial survival. In this article, I’ll
Earlier this year, the Foreign Account Tax Compliance Act (FATCA) was implemented. As a result, many foreign banks will no longer do business with U.S. persons. Banks that continue to accept U.S. customers must either enter into a treaty to disclose U.S. accountholder information to the federal government annually, or 30% of funds will be
