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Freedom: Do It Yourself

I’m beginning to see more advertisements like this:

How To Open an Invisible Bank Account, which says, “Protect yourself from the coming Hyperinflationary Depression with your very own Offshore (Canadian) Bank Account!” claiming, “No Social Security Number or Tax ID Number,” is required. (Such accounts are also known as, “private bank accounts.”)

To find out how to open your, “private bank account,” all have to do, is pony up $19.95, and you my instantly download this “special report,” and you will also receive, as a bonus, these additional “free reports:”

What’s Wrong With This?

There is nothing illegal about this kind of promotion, but understand, all they are selling are some, “reports.” These things are available all over the WEB; some are useful, most are almost useless containing information available to anyone who wants to look for it.

I do question the claim that a Canadian bank account is any kind of protection against hyperinflation. If the account is in American dollars, those dollars will be devalued exactly the same wherever they are held. If the real hedge against inflation is exchanging American dollars for Canadian dollars, it is not necessary to have a Canadian bank account to do that, unless you insist on keeping your Canadian dollars in a bank.

Why An Offshore Bank?

Today, I think there a two main reasons people consider an offshore bank: 1. many seek to keep their finances private, especially from the government (frequently referred to by governments as “tax evasion,” but is really “extortion evasions”) and “asset protection,” because, as governments become more desperate, confiscation becomes more likely; 2. there is a great distrust of American banks and their stability.

Unless one’s assets exceed two million dollars, or income exceeds $200,000 a year, an offshore bank (which includes trusts, incorporations, etc.) as a means of maintaining privacy or protecting assets is probably more trouble than it’s worth. The kind of accounts used for privacy usually cannot be opened for less than $500,000, and those accounts are not the most secure, as those, whose accounts around the world have recently been exposed by whistleblower, Herve Falciani, have found out.

There are good reasons to have an offshore account, or accounts. If one does business in foreign countries, accounts in local banks can facilitate the financial aspects of those businesses. For those who choose the Expat or PT method of establishing their own freedom, an offshore bank is a must.

Obtaining An Offshore Bank Account

If you should decide, or only want more information to make the decision, to obtain an offshore account, you do not need an expert or agency to do that for you. It is very easy to find offshore banks. If there is a particular country you are interested in, an online search for banks in that country will quickly provide a list of all the banks in that country. Similarly, a little searching will provide lists of banks that consider themselves, “offshore,” offering all the services those using such banks are looking for.

Suppose you want to open an Canadian bank account. In Canada there are three classes of banks: Schedule I, which are strictly Canadian Banks, Schedule II, which are Canadian banks, but subsidiaries of foreign banks, and Schedule III, which are foreign banks with branches in Canada.

If you are an American citizen and want to open an account in a Canadian bank (which you might, because their interest rates are better than American banks), you must be residing in Canada to open an account there.

Now here is the secret to having a “Canadian” bank account without residing in Canada, that is also entirely private:

The Royal Bank of Canada (RBC) is a Schedule I bank, but the RBC is also an international bank offering totally private accounts with these services:

In fact, these, “totally private accounts,” are not really Canadian accounts, but accounts with a bank with a Canadian division. There are other offshore Banks offering private accounts. Here are two very good but very different examples, but you can find more online.

Where’s The Safest Place For Your Money

So where is the most private secret place to keep your money? You might guess, Switzerland, Cayman Islands, Bermuda, Singapore, Belgium, Hong Kong, or Jersey. Then you are going to be surprised to learn that according to the “report” by the Financial Secrecy Index, the most secret place of all is Delaware, USA.

Well it must secret, because I could not find a single private bank in Delaware. So much for “reports.”

If you have found any of this valuable, consider it a “free” report, like those some others are selling for $19.95. If you feel guilty about receiving all this “hot secret” information free, just click the “Donate” button on the left, and contribute whatever amount it takes assuage your guilt.