Thread: Glenn Beck Said What I've Been Saying For Some Time

Last night in his show, Glenn Beck, when speaking to an guest concerning the omnibus bill, the budget that he has moved his investments out of the country. He believes its the only way he'll have some money in the end.

I've been saying that it would be wise to move money outside of the country and if I inherit any sizeable sum it won't be banked or invested here. Glenn is wealthy and he's no piker when it comes to his own money. He had an economist on that said "when you see 150,000 people losing jobs each month this country will be going into recession." Keep an eye on the employment reports on the first Friday of each month.

I think I'll tell the government to deposit my SS check in a foreign bank.

Yup. Weak dollar, inflation rising and getting worse. Worse than what Uncle Sam says.

Forgive me my ignorance on the matter, but how does one go about moving accounts to foreign banks?

We don't have much, but I've become increasingly concerned about depositing my pay into my account.

I thought the classic line from last nights show was
about the citizens on the verge of getting out the tar and pitchforks

Originally Posted by azwreath

Forgive me my ignorance on the matter, but how does one go about moving accounts to foreign banks?

We don't have much, but I've become increasingly concerned about depositing my pay into my account.

There are many off shore banks you can use. They give you a debit/credit card (VISA) to use.
Many of these off shore banks want minimum deposits of $10k and have great investment opportunities.
There are many off shore banks that do not have as high of min. requirements for checking & savings, and they offer a good deal of services.

I didn't see Beck's show so I don't know exactly what he said, but maybe he was talking about investing internationally. I'm ok with storing money in our FDIC insured banks, although it doesn't earn much sitting in savings accounts, CDs etc. My fear is rising inflation which I think will get much worse over the next decades.

Do a Google search there is a wealth of information about it.

Originally Posted by sippy

Originally Posted by azwreath

Forgive me my ignorance on the matter, but how does one go about moving accounts to foreign banks?

We don't have much, but I've become increasingly concerned about depositing my pay into my account.

There are many off shore banks you can use. They give you a debit/credit card (VISA) to use. Many of these off shore banks want minimum deposits of $10k and have great investment opportunities. There are many off shore banks that do not have as high of min. requirements for checking & savings, and they offer a good deal of services.

thanks sippy......I'll definitely be doing my research. As I said, we don't have much and I'm concerned.

Now, I'm thinking ahead......with cash disbursements my husband will be receiving from stock options through his employer before he got sick, we should be able to come up with a fair minimum deposit in an offshore account.

As bad as things have been for us, I knew it could only improve

Originally Posted by sippy

Originally Posted by azwreath

Forgive me my ignorance on the matter, but how does one go about moving accounts to foreign banks?

We don't have much, but I've become increasingly concerned about depositing my pay into my account.

There are many off shore banks you can use. They give you a debit/credit card (VISA) to use.
Many of these off shore banks want minimum deposits of $10k and have great investment opportunities.
There are many off shore banks that do not have as high of min. requirements for checking & savings, and they offer a good deal of services.

Yes and there are different regulations for each country and ways of by-passing the income tax situation. One way is establishing a corporation account. I don't know all the particulars but the Swiss banks are still considered very stable.

Yes, I think that foreign investments may be the best if you have only a small amount of money. Our accountant years ago suggest foreign investments. We opted not to do it but I wish we had now.