Retirement

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Retirement

Post  Jim on Thu Jan 08, 2009 9:34 am

Jim Sinclair

From www.jsmineset.com

Look Forward To:

1. States issuing IOUs for State Tax Refunds, possibly to vendors as well.
2. Potential CONFISCATION of your IRA’s and other Retirement Plans including corporate into the Federal Social Security Funds.

This would impact two bird with one stone.

One of those birds is the turkeys with IRAs or any type of retirement program that neither you nor your family will ever get to spend (buying power wise).

The other bird is the Czar of the centrally planned government who then sits in the Cat Bird Seat of Financial Power now able to count and direct your hard earned retirement dollars.

Since the Fed has become the largest "wild-ass" hedge fund due to its recently acquired assets, why not become the Social Security Fund with all your IRAs and corporate retirement accounts full of OTC derivatives? Maybe Madoff can be recruited from a Federal airbase infirmary to run the new Social Insecurity Hedge Fund.

It will happen, sorry!

Maybe Lenin will turn out to be the world’s greatest economist and political philosopher if measured by new governments adopting his programmed and planned economy.

I am my own retirement program because like Harry Schultz we will never retire. Both of us would rather burn out than rust out.

California may delay tax refunds amid budget impasse
With Gov. Arnold Schwarzenegger’s veto of Democrats’ $18-billion package of tax hikes and cuts, the state could begin issuing IOUs as soon as Feb. 1. GOP legislators join a suit against the package.

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Re: Retirement

Post  Shelby on Sun Jan 11, 2009 4:16 am

I told you before in Hommel forum and I will say it again. GET OUT OF YOUR RETIREMENT PLANS NOW!!!!!!!!!! Do not delay. Sell it all. Maybe don't even report the tax, just walk away from everything in the USA and let all your credit go to hell. Convert it all to gold & silver. I am not tax advisor, consult your own. I am just telling you that everything will go to shit just like our stocks did this year, and you will be wishing you got the hell out and never paid a dime to keep your record clean. Screw your paper record, it won't help in the end....

We are in the eye of the hurricane. It seems calm, but we will explode into a tempest this year.

Gold & silver won't solve every issue, but they are the only way you can secure your net worth. You may end up having to make a choice between burrying them to wait out a bad period, or escape the country with them. But at least if you have them, then you are in the driver's seat with your retirement.

I strongly urge you to load up on the coins. Bars are probably not going to be as liquid and flexible in crisis.

You should be loading up on silver coins now, and getting ready for the ratio to gold to rocket from 80 to 40. Then you will want to trade some of your silver coins for gold coins.

This will be a long period of 10+ years, but there will be spikes and bitter washouts along the way. Being in the most liquid forms of metal gives you the most flexibility to trade these gyrations to your advantage.

Everything paper will be extremely risky, as you won't be in the driver's seat.

Make sure you have your basic daily needs set, so that you can ride out and remain in the driver's seat.

I have been quiet, but I am remain here to help when I have something to offer. I do have silver coins coming this month. I changed the design to the Buffalo + Indian head, because I decided to make sure they are resaleable at Apmex and other established dealers. Not the time to create my own design. If there is no interest, then i am happy to hold them for myself and trade them when the silver market is going bonkers in near future. I may even auction them on ebay at higher prices.

I will also probably be searching out safe havens, and I will be able to offer you all places to escape to, with all the details worked out for you, so you just need to get on a plane and come ride out the crisis in more of a simple lifestyle type "paradise" setting. I don't expect many of you to act on that, but nevertheless I have to do it for myself, so I might as well share, maybe I can help a few people along the way....


....keep in touch on this forum...

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Re: Retirement

Post  Shelby on Sun Jan 11, 2009 7:14 pm

Apologies for the few vulgar words in prior post. I am trying to convey that you need to come out of the bankers' system. Come out of satan. Don't stay any longer in satan's system. You are much too slow in coming to realize that this is the big one. This is the end of everything you have known. There is nothing to hang on to, or worth saving. The world is going to massive change. Embrace that change and embrace God's will, so that your path will be in harmony with what must happen.

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Re: Retirement

Post  cdavport on Sun Jan 11, 2009 9:44 pm

Shelby wrote:Apologies for the few vulgar words in prior post. I am trying to convey that you need to come out of the bankers' system. Come out of satan. Don't stay any longer in satan's system. You are much too slow in coming to realize that this is the big one. This is the end of everything you have known. There is nothing to hang on to, or worth saving. The world is going to massive change. Embrace that change and embrace God's will, so that your path will be in harmony with what must happen.

One thing I have wondered recently, if you are leaving the country and your wealth is in silver, how do you take it with you?

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Re: Retirement

Post  Yellowcaked on Mon Jan 12, 2009 6:22 pm

That's a very good question regarding leaving the country!

I think Shelby has the best place in the world being in the Phils, other than possibly Brazil.

I would also like to know more about taking wealth out of the country, especially gold and silver.

Shelby, can you help us out on this?

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Avoiding the ever increasing capital controls

Post  Shelby on Thu Feb 12, 2009 3:57 am

cdavport wrote:...One thing I have wondered recently, if you are leaving the country and your wealth is in silver, how do you take it with you?

Yellowcaked wrote:That's a very good question regarding leaving the country!

I think Shelby has the best place in the world being in the Phils, other than possibly Brazil.

I would also like to know more about taking wealth out of the country, especially gold and silver.

Shelby, can you help us out on this?

http://en.wikipedia.org/wiki/Capital_control#Capital_controls_by_nation

... * Nazi Germany
o Nazi Germany attempted to prevent capital from leaving by imposing the Reichsfluchtsteuer Reich Flight Tax or Escape Tax.[3]

* United States
o The United States is one of the few nations to tax citizens irrespective of where in the world they live. If an American attempts to take capital out of the United States they are expected to still pay taxes to the US government on any income or rents it produces even if that American resides permanently outside the USA.

In 2008 the United States Congress enacted the Heroes Earnings Assistance and Relief Tax (HEART) act, which President George W. Bush signed into law. One consequence of this act is that any person that renounces their US citizenship, for example so as not to be burdened with paying US taxes when they no longer live in or receive any benefits from the USA, will have to pay taxes on any unrealized capital gains they had on any property they owned. As the US has a progressive tax regime this would mean the individual would most likely be taxed at the highest possible rate, capital gains realized over a lifetime would be taxed at a lower rate as the amount realized each year would be a smaller amount and the payments would be in the future and therefore worth less due to compounding. In effect the person would have to have to sell a portion of their property before being able to renounce their citizenship...

I knew that if you had a net worth over $2 million, then you had to pay a hefty exit tax when you renounce your US citizenship. Now as of 2008, it looks like if you have any trackable assets, the US will prevent you from leaving without taxing (ahem confiscating) your assets. The capital controls just keep being added, even we don't hear about them in news. They keep burying admendments to the Patriot Act in each unrelated law that gets passed by Congress.

That is why I am encouraging all of you to buy your silver from CoinATM.com. I do plan to set up ways for you to "wire" your silver to other countries. Also CoinATM.com is selling the coins that have the most "anti-capital controls" capability.

You may also want to read this thread:

http://goldwetrust.up-with.com/health-f5/preparing-for-coming-crisis-t41.htm#697

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Re: Retirement

Post  Yellowcaked on Thu Feb 19, 2009 7:25 pm

Trying to catch up on all my reading here while I was away for so long...

I'm SURPRISED no one here is discussing this subject much!! Does everyone here in the U.S. have their heads in the sand??

I created the other thread today regarding specifically other countries as safe havens...

Timing seems to be everything on the idea of "just walk away from everything in the USA and let all your credit go to hell". What specifially did you mean by the credit reference of everything?

We here in the U.S. have to have a plan to survive while we are here and then in another country as things get insufferable here.

Shelby wrote:I told you before in Hommel forum and I will say it again. GET OUT OF YOUR RETIREMENT PLANS NOW!!!!!!!!!! Do not delay. Sell it all. Maybe don't even report the tax, just walk away from everything in the USA and let all your credit go to hell. Convert it all to gold & silver. I am not tax advisor, consult your own. I am just telling you that everything will go to shit just like our stocks did this year, and you will be wishing you got the hell out and never paid a dime to keep your record clean. Screw your paper record, it won't help in the end....

I will also probably be searching out safe havens, and I will be able to offer you all places to escape to, with all the details worked out for you, so you just need to get on a plane and come ride out the crisis in more of a simple lifestyle type "paradise" setting. I don't expect many of you to act on that, but nevertheless I have to do it for myself, so I might as well share, maybe I can help a few people along the way....

....keep in touch on this forum...

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Re: Retirement

Post  Shelby on Fri Feb 20, 2009 1:32 am

Yellowcaked wrote:...I created the other thread today regarding specifically other countries as safe havens...

Timing seems to be everything on the idea of "just walk away from everything in the USA and let all your credit go to hell". What specifially did you mean by the credit reference of everything?

We here in the U.S. have to have a plan to survive while we are here and then in another country as things get insufferable here...

Note I moved that thread topic to the Health forum, since it is personal well being based focus.

I think many people are afraid to cut loose from their credit rating. Imo, it is time to get your capital out, and credit rating can be sacrificed.

As for where to live, it is a matter of personal preference. As for how to store your capital in precious metals and be able to spend it where ever you are, that is precisely what I am working on now:

http://goldwetrust.up-with.com/goldwetrustcom-f1/which-logo-is-best-for-new-coinatmcom-t85.htm#1008

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Re: Retirement

Post  Yellowcaked on Fri Feb 20, 2009 6:34 pm

Yeah, I know that is what you are working on, I have just had some trouble really understanding how it would become doable.

That's why I was never a good maintenance programmer because I have to have the big picture first before I can make minor changes to programs.

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Re: Retirement

Post  Shelby on Fri Feb 20, 2009 6:42 pm

Yellowcaked wrote:Yeah, I know that is what you are working on, I have just had some trouble really understanding how it would become doable.

That's why I was never a good maintenance programmer because I have to have the big picture first before I can make minor changes to programs.

What part do you not see as doable?

You buy Vault Oz, these are stored for you safely and securely. Later I will have vaults in other countries.

When you need fiat, you sell Vault Oz, and it can be wired to your bank account. Or you request physical delivery in coins, and spend them.

What part do you not see as doable?

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Re: Retirement

Post  Yellowcaked on Sat Feb 21, 2009 9:24 pm

Direct me to some of the threads where you discuss Vault Ounces. I will read them.

Will the centerpiece of this system be FSD? What about if capital controls enforce no PMs leaving the U.S.?

I am thinking, currently, about getting a large amount of mine out of the U.S., and soon.

Just thinking out loud...

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Re: Retirement

Post  Shelby on Sat Feb 21, 2009 11:34 pm

Shelby wrote:
Yellowcaked wrote:Yeah, I know that is what you are working on, I have just had some trouble really understanding how it would become doable.

That's why I was never a good maintenance programmer because I have to have the big picture first before I can make minor changes to programs.

What part do you not see as doable?

You buy Vault Oz, these are stored for you safely and securely. Later I will have vaults in other countries.

When you need fiat, you sell Vault Oz, and it can be wired to your bank account. Or you request physical delivery in coins, and spend them.

What part do you not see as doable?

Does the text I added to the home page help?

http://coinatm.com/

I have only tested so far in FireFox3, please let me know if you have errors in any browser or browser version number.

Yellowcaked wrote:...What about if capital controls enforce no PMs leaving the U.S.?

I am thinking, currently, about getting a large amount of mine out of the U.S., and soon...

I would like to open a vault outside the USA asap, so that CoinATM customers can simply click a button to wire their metal back and forth between the USA vault and the foreign vault(s).

I will add these capabilities in a series of steps over this year. I think we have most of this year before any capital controls. I want the first step done asap, hopefully before June. The first step will be for me to open a CoinATM account at BullionVault.com. I know the owner of BullionVault (Paul Tustain), so I just need to get in touch with him and make sure that my plans are approved by them. So then I will need to get a bank account for CoinATM outside the USA, so we can get money in/out of BullionVault outside of USA jurisdiction. So the way it will work is that you click a button in CoinATM to convert some of your metal to external vault, then CoinATM will wire the funds to the external bank account, then wire from that external bank account to BullionVault and then purchase the metal at BullionVault. You will still have a record of and control this metal via your CoinATM account. I will prepare backup servers for CoinATM outside the USA. At any time, you can click a button at CoinATM.com, to sell (any portion of) your metal, and either get the funds wired to you (from the foreign bank account to any bank account you may have domestic or foreign by that time), or to return the metal back to CoinATM. As I add more vaults in other countries, then you will have more options of where you send the metal and even take physical delivery at those other vaults. I already know the details for a professionally run vault in Uraguay (near Brazil/Argentina). My suggestion is you do not keep your metal stored in these vaults in small countries, rather you use those vaults only when you want to take delivery of some metal you may have stored in CoinATM at First State Depository and/or at BullionVault.

By going this through CoinATM, instead of trying to set up yourself, you will benefit from more liquidity (and the proxy to have the funds wired where ever you are at that time), because we will have many buyers always to buy your metal, thus we can offer the 1% spread that I am now advertizing on CoinATM.com. Note that BullionVault will only wire out to the same account that the funds were wired into from. So this puts a lot of restrictions and requires you to pre-plan. Instead we do it the way I proposed above, then the CoinATM customer has flexibility.

Marshall perhaps you can help me? Call me? Also there is an open invitation to any one that is trustworthy and wants to help. Jeremy I am still interested to work with you. I hope you all are starting to watch CoinATM.com site improve and realize that I have the programming talent to compete with GoldMoney and provide better range of services.

Come on guys, we need to pool our resources. I will soon start writing articles again, and they will be superior and more focused than my prior work.


=====
Add:

Remember that I do not advise keeping more than say 5 - 20% of your net worth stored in a diversified vaulting. Keep the majority as bullion with you, if possible. The vaulted oz is like your checking account, it is for liquidity and flexibility in times where you need to move rapidly. Remember these days everything trades like lightning speed on the internet, so it is important to have some liquidity in a lightning fast vehicle. You might want to keep some in fiat accounts, perhaps in multiple currencies also. You've got to spread your risk around, but keep the majority of your investment holdings in silver stored either with you, and/or at First State (via CoinATM or your own First State account) where you can get it in 48 hours if need be.

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Here you go Yellowcaked

Post  Shelby on Mon Feb 23, 2009 12:44 pm

I think this is what you need:

http://goldwetrust.up-with.com/goldwetrustcom-f1/which-logo-is-best-for-new-coinatmcom-t85.htm#1033

From Paypal, you can spend your $ all over the world.

Then before June, let's get it set up so you can hold your VaultOz in various proportions at domestic and foreign vaults. All with the click of your mouse.

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Don't retire to Mexico!

Post  Shelby on Thu Feb 26, 2009 5:03 pm


Shelby
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USA capital controls removed from Wikipedia

Post  Shelby on Sat Aug 01, 2009 9:43 am

Shelby wrote:...http://en.wikipedia.org/wiki/Capital_control#Capital_controls_by_nation

... * Nazi Germany
o Nazi Germany attempted to prevent capital from leaving by imposing the Reichsfluchtsteuer Reich Flight Tax or Escape Tax.[3]

* United States
o The United States is one of the few nations to tax citizens irrespective of where in the world they live. If an American attempts to take capital out of the United States they are expected to still pay taxes to the US government on any income or rents it produces even if that American resides permanently outside the USA.

In 2008 the United States Congress enacted the Heroes Earnings Assistance and Relief Tax (HEART) act, which President George W. Bush signed into law. One consequence of this act is that any person that renounces their US citizenship, for example so as not to be burdened with paying US taxes when they no longer live in or receive any benefits from the USA, will have to pay taxes on any unrealized capital gains they had on any property they owned. As the US has a progressive tax regime this would mean the individual would most likely be taxed at the highest possible rate, capital gains realized over a lifetime would be taxed at a lower rate as the amount realized each year would be a smaller amount and the payments would be in the future and therefore worth less due to compounding. In effect the person would have to have to sell a portion of their property before being able to renounce their citizenship...

I knew that if you had a net worth over $2 million, then you had to pay a hefty exit tax when you renounce your US citizenship. Now as of 2008, it looks like if you have any trackable assets, the US will prevent you from leaving without taxing (ahem confiscating) your assets. The capital controls just keep being added, even we don't hear about them in news. They keep burying admendments to the Patriot Act in each unrelated law that gets passed by Congress...

That information no longer appears on Wikipedia!

http://en.wikipedia.org/wiki/Capital_control#Capital_controls_by_nation

You can see the old version:

http://en.wikipedia.org/w/index.php?title=Capital_control&oldid=267795247#Capital_controls_by_nation

The existing capital controls on renouncing USA citizenship can be used to trap us, because they can simply raise the capital gains tax!

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IRA

Post  Jim on Tue Jan 12, 2010 6:17 am


Jim

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Pensions

Post  Jim on Wed Apr 14, 2010 10:36 pm

From www.jsmineset.com:

Argentina seizes pension funds to pay debts. Who’s next?
By Ambrose Evans-Pritchard
Last updated: October 21st, 2008

Here is a warning to us all. The Argentine state is taking control of the country’s privately-managed pension funds in a drastic move to raise cash.

Should we worry about our pensions?

It is a foretaste of what may happen across the world as governments discover that tax revenue, and discover that the bond markets are unwilling to plug the gap. The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice.

Here is a link from La Nacion and another from El Pais for Spanish speakers:

So, over $29bn of Argentine civic savings are to be used as a funding kitty for the populist antics of President Cristina Kirchner. This has been dressed up as an anti-corruption and efficiency move. Aren’t they always?

More…

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Re: Retirement

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