[SeekAndFind]

To summarize, there are two reasons why the Rich move money offshore:

* Litigation risk, and

* Political risk.

Litigation risk is the old reason. You could get hit by a crazy lawsuit here in the U.S. The wealthy are an easy mark, and anything onshore is vulnerable. But the U.S. courts don’t have jurisdiction overseas and if you plan things right you have at least some chance of protecting money held offshore, It keeps you away from our court system and the caprices of our courts.

The new reason, though, is political risk: Diversification from our government, policies, and banking systems. A growing numbers of the wealthy are worried about the financial system, confiscation — the whole shebang. They’re concerned about our government, and where our society is headed. There’s a lot of socialistic tendencies, capital controls, the redistribution of wealth.

[theBuckwheat]

I have non-US accounts. All this hub-bub about ‘hiding money’ is utter nonsense! I have to report all my accounts and the amounts therein. Because I have non-US accounts, I have far greater audit risk.

Further, you cannot ‘hide’ an account in a jurisdiction that has an information sharing treaty with the US. To claim otherwise is to claim that unicorns crap skittles. er, um. well some people really do believe that, don’t they?

[count-your-change]

“Personally, I don't see any reason to think this administration is going to go after the so-called one percent. Too many of its members are either members of that elite group already — or have high hopes of joining after they retire.”

But that group has used their privileged position of lawmaking to protect themselves from the results of their own actions.
A person may be poor going into high office but how many leave that way?

The one activity that the congress and senate will give their greatest effort to is securing their own futures no matter the cost to everyone else.

[mo]

All this says to me is that “wealth confiscation” ...is coming..and in fact has already occurred at MF Financial courtesy of the Democrat operative John Corzine....

[Praxeologue]

Offshore accounts evade:

- the tax man;

- creditors;

- your spouse, and

- potential currency controls.

Not one purpose is legal.

[Wolfie]

All part of the diminishing loyalty phenomenon. First corporations, now individuals. We don’t really owe anyting to the United States, after all is said and done. It’s just a geographic location. If it doesn’t suit your purposes, you’re smart to find someplace that does. Citizens of the world, you betcha.

[Theophilus]

Matthew 6
19 Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:
20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:
21 For where your treasure is, there will your heart be also.