International Living

Obama Has a New 401(k) – Yours

"The total value of U.S. private pensions stands around $18 trillion, more than 25% of that in IRAs — no coincidence that figure is not far from the fast-growing U.S national debt, currently at $16.8 trillion. As our nation’s debt is projected to skyrocket to a mind-boggling $35 trillion by 2025, you can bet Washington politicians are eyeballing this mountain of pension cash. One way to protect your IRA or other retirement plans is to move your plan out of the jurisdiction of the United States and locate your assets and their management offshore, or start a new plan offshore." Continue reading →

Continue ReadingObama Has a New 401(k) – Yours

A Telling Gold Anecdote From Hong Kong

"Went to Hang Seng bullion counter yesterday. The line was out the door. It took an hour wait to see a teller. When I asked if people were buying in the dip or selling in panic, she told me that they haven't had once ounce of gold sold back to them all day. She told me they have sold more gold in 24 hrs than they normally do in 3 months. Yes, there was a lot of extra security. The guy in front of me bought over $1 million USD in gold. He paid in cash and walked out of the door with the bullion in a Nike bag. Amazing. [..] Here, the man would be arrested and jailed just for having his own money in cash. Oh, and the cash would be stolen." Continue reading →

Continue ReadingA Telling Gold Anecdote From Hong Kong

Rick Steves: Well Traveled

"What started out as a small European tour outfit has, over the years, grown into an enterprise of some 80 employees organizing tours, writing guidebooks, and producing the public television series and radio programs that make Rick Steves a welcome guest in millions of American homes. Having just gotten back from another day at the office, the author of Travel as a Political Act carefully considers the ounce of marijuana procured for this photo shoot as he plays selections from Les Miserables on the baby grand he’s owned since the days when he made his living as a piano teacher." Continue reading →

Continue ReadingRick Steves: Well Traveled

Rick Steves: Well Traveled

"What started out as a small European tour outfit has, over the years, grown into an enterprise of some 80 employees organizing tours, writing guidebooks, and producing the public television series and radio programs that make Rick Steves a welcome guest in millions of American homes. Having just gotten back from another day at the office, the author of Travel as a Political Act carefully considers the ounce of marijuana procured for this photo shoot as he plays selections from Les Miserables on the baby grand he’s owned since the days when he made his living as a piano teacher." Continue reading →

Continue ReadingRick Steves: Well Traveled

Rick Steves: Well Traveled

"What started out as a small European tour outfit has, over the years, grown into an enterprise of some 80 employees organizing tours, writing guidebooks, and producing the public television series and radio programs that make Rick Steves a welcome guest in millions of American homes. Having just gotten back from another day at the office, the author of Travel as a Political Act carefully considers the ounce of marijuana procured for this photo shoot as he plays selections from Les Miserables on the baby grand he’s owned since the days when he made his living as a piano teacher." Continue reading →

Continue ReadingRick Steves: Well Traveled

US banker proud to become Chinese national

"The rise of China has not only transformed the global landscape of the financial industry, but it has also changed an American banker’s nationality. Some in Hong Kong’s financial community were surprised by an e-mail from one of the most veteran investment bankers in the city on Tuesday night. Marshall Nicholson, a managing director in charge of investment banking in Hong Kong for China International Capital Corporation (CICC) told his colleagues and friends that he had officially renounced his United States citizenship and would soon receive a HKSAR passport. Nicholson, whose wife is a Hongkonger, first came to the city about 11 years ago." Continue reading →

Continue ReadingUS banker proud to become Chinese national

Jim Rogers shares insights on his book Street Smarts

"Jim Rogers of Rogers International Commodities Index (RICI) joins Open Currency Update with Kurt Wallace. While logging miles on his exercise bike, Jim discusses his ground up approach to investing and why he recommends investors learn philosophy and history. He also shares about a changing global environment toward Asia and why he sees New York City as a third world city. Rogers talks about his chapter ‘Creative Destruction’ and he explains the importance of how a robust immigration system directly effects the state of a society’s economy." Continue reading →

Continue ReadingJim Rogers shares insights on his book Street Smarts

Doug Casey: The Gold Crash Is Not What Either Bulls or Bears Are Telling You

"I don't expect it to drop much more, and I'd be very surprised at a drop below $1,000 an ounce, but there is no law of nature preventing it from doing so. All markets fluctuate. People who get panicked are overcommitted... or maybe they shouldn't be in the market because they're not psychologically suited for it. The problem is that government currency debasement practically forces everyone to be in the market, just to try to stay ahead of inflation. You can't time market bottoms, but you've got to play the odds. If I were going to sell anything now, I wouldn't think of selling my gold or gold stocks." Continue reading →

Continue ReadingDoug Casey: The Gold Crash Is Not What Either Bulls or Bears Are Telling You

Doug Casey on Second Passports

"It used to be that a passport was a document that a ruler of one country would give to a traveler to ask the rulers of other countries to assist him in his travels. Now, instead of a convenience, it's become a required permit for travel. It's degrading and actually runs counter to the whole idea of the thing. The original purpose of a passport has been turned upside down. But since they are necessary in today's world, you ought to have several of them, for your own convenience. If nothing else, it prevents any one government from basically placing you under house arrest by taking your passport away from you." Continue reading →

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A surprising map of the countries that are most and least welcoming to foreigners

"Buried several hundred pages into a new World Economic Forum report on global tourism, past the sections on air travel infrastructure and physician density (by which they mean the number of physicians per capita, not the mass-per-cubic-meter of individual doctors), are some very interesting numbers. The WEF has compiled survey data from 140 countries estimating the attitude of each countries’ population toward foreign visitors. The results, mapped out above, seem significant beyond just tourism. The WEF gathered the data from late 2011 through late 2012 by asking respondents, 'How welcome are foreign visitors in your country?'" Continue reading →

Continue ReadingA surprising map of the countries that are most and least welcoming to foreigners