Uk Capital Controls.. Will U Be Able To Live In Tl?

[BuffaloRescue]

Will you be able to live in TL if the UK bring in capital controls preventing people taking money out of the country.

Do you have a pension or funds in Europe? Perhaps time to consider moving them out!

http://pro.moneyweek.com/myk-repression/EMYKP405/

[Soutpeel]

when the EU was planning to put withholding taxes on accounts years ago...I closed all my accounts down and shifted everything to Singapore

but to answer the question, if they pull the stuff they have pulled in cyprus, suspect there will be a lot of EU retiree's who will be deep in the sh*t

[BuffaloRescue]

They can keep their 2%... id prefer to keep my cash buried in the garden, than in a bank account anyway. Safer.. and i dont want to invest in a corrupt system, im trying to live outside it (not possible, but still!)

[HardenedSoul]

Can't see this happening but I'm definitely not daft wnough to say "never". If this financial crisis has taught us anything, it's to re-examine that which we may have traditionally considered "safe".

Having said that, MoneyWeek is the ultimate scaremonger. I wouldn't put too much faith in their predictions.

[Trembly]

Can't see this happening but I'm definitely not daft wnough to say "never". If this financial crisis has taught us anything, it's to re-examine that which we may have traditionally considered "safe".

Having said that, MoneyWeek is the ultimate scaremonger. I wouldn't put too much faith in their predictions.

MoneyWeek's record notwithstanding, there does seem to be a fair bit of corroboration from other sources.

I don't see why anyone living permanently in Thailand would bother to park their money or gold in the west any more, given recent events.

Banking facilities in Hong Kong and Singapore are excellent, with the latter openly declaring it's intention to replace Switzerland as the world's preeminent banking destination (revamping bank-secrecy laws in defiance of the IRS, no less).

[Rancid]

Some Australian guy says he went from wealthy to poor after the Cyprus bank swiped most of his money, suppose the banksters are still paying themselves bonuses then. Canada has enacted laws that the Too Big To Fail Banks will be protected even if it means despoitors getting wiped out, Bernanke refused to rule it out completely for the US when asked. If I had money in Europe I wouldn't be sleeping well, Cyprus was just flying up the flag and seeing who saluted. They will start with the smaller economies and then overnight lock down the big ones, maybe not tomorrow but...

[BuffaloRescue]

Can't see this happening but I'm definitely not daft wnough to say "never". If this financial crisis has taught us anything, it's to re-examine that which we may have traditionally considered "safe".

Having said that, MoneyWeek is the ultimate scaremonger. I wouldn't put too much faith in their predictions.

MoneyWeek's record notwithstanding, there does seem to be a fair bit of corroboration from other sources.

I don't see why anyone living permanently in Thailand would bother to park their money or gold in the west any more, given recent events.

Banking facilities in Hong Kong and Singapore are excellent, with the latter openly declaring it's intention to replace Switzerland as the world's preeminent banking destination (revamping bank-secrecy laws in defiance of IRS, no less).

MW do make some pretty outrageous predictions. I think gold is meant to be about $4000 an oz by now according to them. On the other hand they do publish some interesting information that the mainstream avoid altogether.

[BuffaloRescue]

Some Australian guy says he went from wealthy to poor after the Cyprus bank swiped most of his money, suppose the banksters are still paying themselves bonuses then. Canada has enacted laws that the Too Big To Fail Banks will be protected even if it means despoitors getting wiped out, Bernanke refused to rule it out completely for the US when asked. If I had money in Europe I wouldn't be sleeping well, Cyprus was just flying up the flag and seeing who saluted. They will start with the smaller economies and then overnight lock down the big ones, maybe not tomorrow but...

Agreed... i think it was some kind of "test"

[Rancid]

Governments bailed out the banks last time which is why so many economies are so indebted. However they know the problem wasn't fixed, just delayed, and that they can't keep doing it indefinitely as the problem is too big, hence now looking at depositors.Should have let them go under last time and only bailed the depositors, then sent agressive prosecutors after the crooks. I mean MF Capital steals a billion dollars and they get off scot free, governments are bought and paid for. Would you really trust them or the banks, and to the OP, where is the world centre of bank fraud and do you really feel good about your money being there? Don't need move money to Thailand, just somewhere safe, Singapore was mentioned.

[Soutpeel]

Some Australian guy says he went from wealthy to poor after the Cyprus bank swiped most of his money, suppose the banksters are still paying themselves bonuses then. Canada has enacted laws that the Too Big To Fail Banks will be protected even if it means despoitors getting wiped out, Bernanke refused to rule it out completely for the US when asked. If I had money in Europe I wouldn't be sleeping well, Cyprus was just flying up the flag and seeing who saluted. They will start with the smaller economies and then overnight lock down the big ones, maybe not tomorrow but...

Agreed... i think it was some kind of "test"

most certainly...goverments in other EU countries will be looking at this and thinking they can get away with it as well...

[HardenedSoul]

Can't see this happening but I'm definitely not daft wnough to say "never". If this financial crisis has taught us anything, it's to re-examine that which we may have traditionally considered "safe".

Having said that, MoneyWeek is the ultimate scaremonger. I wouldn't put too much faith in their predictions.

I don't see why anyone living permanently in Thailand would bother to park their money or gold in the west any more, given recent events. Banking facilities in Singapore and Hong Kong are excellent, with the former openly declaring it intentions to replace Switzerland as the world's preeminent banking destination in defiance of both Switzerland and the IRS.

Funny you should say that. My gold and silver is stored in Switzerland and Hong Kong.

On the topic of capital controls, I can't see the British public being as laidback as the Cypriots when their banks re-opened after a two-week "bank holiday". There'd be rioting in the streets after the first couple of days.

[GuestHouse]

Quote from the bottom of the Link the OP provided....

Information in MoneyWeek magazine is for general information only and is not intended to be relied upon by individual readers in making (or not making) specific investment decisions.

Nuff Said!

[Soutpeel]

Can't see this happening but I'm definitely not daft wnough to say "never". If this financial crisis has taught us anything, it's to re-examine that which we may have traditionally considered "safe".

Having said that, MoneyWeek is the ultimate scaremonger. I wouldn't put too much faith in their predictions.

I don't see why anyone living permanently in Thailand would bother to park their money or gold in the west any more, given recent events. Banking facilities in Singapore and Hong Kong are excellent, with the former openly declaring it intentions to replace Switzerland as the world's preeminent banking destination in defiance of both Switzerland and the IRS.

Funny you should say that. My gold and silver is stored in Switzerland and Hong Kong.

HK or Singapore are the places to be these days...the world has changed..and the times of stability, reliability etc of big EU countries banks are long gone...

[Beetlejuice]

The guy is using the present Cypriot economic crisis, fear and scaremongering to sell his magazine. And if you’re gullible enough to fall for this and do decide to subscribe to this MoneyWeek magazine, I guarantee that it will recommend investment plans with companies that either advertise with them or pay commissions.

I saw the ploy before I even got down to the third paragraph.

I do agree that the worldwide economic situation is looking bleak, but there are many good financial websites giving good advice available online for free.

[BuffaloRescue]

Can't see this happening but I'm definitely not daft wnough to say "never". If this financial crisis has taught us anything, it's to re-examine that which we may have traditionally considered "safe".

Having said that, MoneyWeek is the ultimate scaremonger. I wouldn't put too much faith in their predictions.

I don't see why anyone living permanently in Thailand would bother to park their money or gold in the west any more, given recent events. Banking facilities in Singapore and Hong Kong are excellent, with the former openly declaring it intentions to replace Switzerland as the world's preeminent banking destination in defiance of both Switzerland and the IRS.

Funny you should say that. My gold and silver is stored in Switzerland and Hong Kong.

On the topic of capital controls, I can't see the British public being as laidback as the Cypriots when their banks re-opened after a two-week "bank holiday". There'd be rioting in the streets after the first couple of days.

I wish you were right. Last time there was rioting in the streets everyone was aghast. No English culture.. stiff upper lip, grin and bear it. Rioting, civil unrest.. thats the kind of thing the french do. What about the ambulances and the poor sods who cant get to work? We are much better than that.

[BuffaloRescue]

The guy is using the present Cypriot economic crisis, fear and scaremongering to sell his magazine. And if you’re gullible enough to fall for this and do decide to subscribe to this MoneyWeek magazine, I guarantee that it will recommend investment plans with companies that either advertise with them or pay commissions.

I saw the ploy before I even got down to the third paragraph.

I do agree that the worldwide economic situation is looking bleak, but there are many good financial websites giving good advice available online for free.

Are you familiar with MW? Its not a "guy" its quite a large publication. Their advertisers are clearly labelled as such. Its not mainstream but I wouldnt be too quick to dismiss everything they say. Just because they have ads on there. Its a business. Free advice, is worth the price!

[sustento]

That's a classic 'sales page' He's not interested in your investments only his sales of hos own magazine.

[BuffaloRescue]

No, actually its an email sent out to paid subscribers. I clicked the "view this in a browser" link. I hear what you are saying and it does read like an advertisement, but you are wrong if you think MW is some "guy" flogging an ebook or something like that.

[Banzai99]

Yeah, all my tons of gold and silver and diamonds are well safe buried in the wifes rice farm, I haven't checked for a few years and the original location seems to have been moved for security purposes, but her Brother informs me that my wealth is being well looked after.

[JDGRUEN]

Okay -- this is a serious question... Not being experienced in International Finance.. Can one open a bank account in Singapore or Hong Kong without being there in person? I ask this because my sister wants a more secure location for her money but would not be able to physically travel there due to her health status.

[BuffaloRescue]

Okay -- this is a serious question... Not being experienced in International Finance.. Can one open a bank account in Singapore or Hong Kong without being there in person? I ask this because my sister wants a more secure location for her money but would not be able to physically travel there due to her health status.

You can have an agent do it for you.

You can also open a company or buy a shelf company in both places and use that to hold your investments might be handy if in a "married situation"

[kimamey]

I got bored reading after a while. It just keeps repeating the same thing over and over. I'll try again later but I don't think I'd put much faith in it to be honest. I must admit Cyprus is a bit of a surprise but then there's a lot of foreign money in their banks which are in a bad way. It's not the same in the UK which isn't in the Euro like Cyprus. The banks are much stronger and the government would be unlikely to risk a run on them which is why they've bailed them out and put safeguards in to protect customers deposits up to a certain amount (£85,000 I think). You just have to be careful if you have more than that that you spread it around.

[HardenedSoul]

I wish you were right. Last time there was rioting in the streets everyone was aghast. No English culture.. stiff upper lip, grin and bear it. Rioting, civil unrest.. thats the kind of thing the french do. What about the ambulances and the poor sods who cant get to work? We are much better than that.

I'm sure that the overwhelming majority in Greece and Spain were aghast at violent demonstrations in Athens and Barcelona too.

Didn't stop people having a go at the police or private property, did it?

As for us being "better than that", I'd just say that once people are unable to get their hands on enough money each month to pay the mortgage/rent, put food on the table, pay the Sky TV subscription and raise a few jars of an evening because of capital controls and levies imposed by seemingly affluent politicians and bankers, all bets are off.

[JDGRUEN]

Okay -- this is a serious question... Not being experienced in International Finance.. Can one open a bank account in Singapore or Hong Kong without being there in person? I ask this because my sister wants a more secure location for her money but would not be able to physically travel there due to her health status.

You can have an agent do it for you.

You can also open a company or buy a shelf company in both places and use that to hold your investments might be handy if in a "married situation"

My sister would definitely have to go the 'agent' route as she is not likely to travel (health). Also - while she is a professed Liberal - she is xenophobic (yeah I know!!!) - Oh - and it is my 'sister' - she is the one with big money - not me. She is also an older widow. I just wish to help her have a safer place for her money. How does one go about getting a trustworthy agent to open such an account?

[BuffaloRescue]

I wish you were right. Last time there was rioting in the streets everyone was aghast. No English culture.. stiff upper lip, grin and bear it. Rioting, civil unrest.. thats the kind of thing the french do. What about the ambulances and the poor sods who cant get to work? We are much better than that.

I'm sure that the overwhelming majority in Greece and Spain were aghast at violent demonstrations in Athens and Barcelona too.

Didn't stop people having a go at the police or private property, did it?

As for us being "better than that", I'd just say that once people are unable to get their hands on enough money each month to pay the mortgage/rent, put food on the table, pay the Sky TV subscription and raise a few jars of an evening because of capital controls and levies imposed by seemingly affluent politicians and bankers, all bets are off.

Unless they stage a war. Create a climate of fear. Sense of national pride. "Patriotism is usually stronger than class hatred, and always stronger than internationalism" (orwell). They need an "enemy". Johnny foreigner. The keynesian economy needs exponential growth, but weve nearly reached peak oil and debt levels are too high its not possible. UK economy is worse than any in Europe.. our "GDP" is from hardly any "products" at all. All financial transactions that produce little tax and very very few jobs... the kind of transactions that are destabilising the economy not supporting it. Totally fake, fudged figure that means absolutely nothing. If they want to continue like this, they need to "reduce the population". War is never productive... but for the crazies war is the answer. Yes im paranoid.. that doesnt mean people arent out to get me. I don't know... but i do feel people are starting to "wake up". Probably too late. Interesting times. Glad im too old to be conscripted.

Have you noticed they seem to be trying to break down the "police fraternity" and bring in "ex servicemen" (mercenaries) into the police force?

[FunFon]

I'm surprised the American twist to this discussion hasn't come in yet so I'll chime in.

Their options are severely limited, as many many financial institutions in international "safe havens" refuse to take money from US citizens anymore due to enforcement of "anti-terrorism money laundering" regulations that are in fact designed to ensure tax compliance.

That leaves many Americans only the the less trustworthy jurisdictions like Panama. . .

[sustento]

No, actually its an email sent out to paid subscribers. I clicked the "view this in a browser" link. I hear what you are saying and it does read like an advertisement, but you are wrong if you think MW is some "guy" flogging an ebook or something like that.

It is a classic long form sales page.The fact that it was sent by email is irrelevant. I suggest you do a little research on email marketing:

http://visualwebsiteoptimizer.com/split-testing-blog/long-sales-letter-copywriting/

[Soutpeel]

Okay -- this is a serious question... Not being experienced in International Finance.. Can one open a bank account in Singapore or Hong Kong without being there in person? I ask this because my sister wants a more secure location for her money but would not be able to physically travel there due to her health status.

You can have an agent do it for you.

You can also open a company or buy a shelf company in both places and use that to hold your investments might be handy if in a "married situation"

Why would do that...a shelf company will attract local tax in both those places but to answer "JDGuren's" question...you certainly can in Singapore with the multi-national banks there... ie HSBC/Citi/Standard Chartered, however keep in mind "local" Singapore banks typically will not touch you becasue you are not a Singapore resident/citizen....oh and you cant be an American..

BTW why would one need an agent to do this for you and in a "married" situation...you just dont tell your dearly beloved...but obviously someone other that yourself needs to know about the account and details and authority in case you happen to kick the bucket

[Fibbernacci]

I'm surprised the American twist to this discussion hasn't come in yet so I'll chime in.Their options are severely limited, as many many financial institutions in international "safe havens" refuse to take money from US citizens anymore due to enforcement of "anti-terrorism money laundering" regulations that are in fact designed to ensure tax compliance.That leaves many Americans only the the less trustworthy jurisdictions like Panama. . .

Panama is one for the top international banking centres in the world,with some of the safest and most secure offshore tax protection vehicles in the world,have you ever been there?

Most of the world's biggest banks are there,your ignorance of the facts is quite breathtaking!

[Fibbernacci]

Okay -- this is a serious question... Not being experienced in International Finance.. Can one open a bank account in Singapore or Hong Kong without being there in person? I ask this because my sister wants a more secure location for her money but would not be able to physically travel there due to her health status.

You can have an agent do it for you.

You can also open a company or buy a shelf company in both places and use that to hold your investments might be handy if in a "married situation"

My sister would definitely have to go the 'agent' route as she is not likely to travel (health). Also - while she is a professed Liberal - she is xenophobic (yeah I know!!!) - Oh - and it is my 'sister' - she is the one with big money - not me. She is also an older widow. I just wish to help her have a safer place for her money. How does one go about getting a trustworthy agent to open such an account?

http://www.chuilaiandcocpa.com/

I personally know people who have opened up corporate accounts with this guy and he is probably the cheapest and fastest guy around.If you fly over to Hong Kong he can open you an HSBC corporate account on the same day!