August 30, 2006 at 10:21:21

Get Your Assets Out of the U. S. NOW

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By Ezekiel (about the author) Page 3 of 3 page(s)

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The first problem is physical. Unlike most countries, the U. S. does not print any bill larger than $100. The typical money belt will not hold much more than $20,000. A small briefcase will handle many times that, but is pretty conspicuous to thieves.

The second problem is regulatory. There is no law preventing you from taking cash out of the U. S., but you must report anything over $10,000 per person. There is a fairly simple form (FinCEN Form 105) to fill out that you can download here: http://www.fincen.gov/forms/fin105_cmir.pdf. The fun part is figuring out how to file it. When leaving from an international airport, you'll need to call the local Customs office to arrange for delivering it to them. Be prepared to show them the cash you're carrying and to answer questions about your plans for the money even if that's not provided for under law. If you try to take the money without reporting it, you risk a fine AND forfeiture of the money.

The third issue is what you'll do with all that cash when you arrive. If you're going to a country where the banks cooperate closely with The Egmont Group, no one may be willing to let you deposit the money, at least until you establish residency. The Catch 22 is that it may be tough to establish residency or start a company without a local bank account. Thoroughly research the terms and conditions for establishing a bank account in the country where you're going before you take large sums of cash there.

Avoiding the Iceberg

You can avoid the kind of financial meltdown or fascist takeover that may overwhelm the U. S. in the near future if you start the process now. Begin researching and planning immediately, so that you can hold on to the resources that will make it possible for you and your family to start a new life abroad.

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