General Stock Ideas

[bigworld]

scstocks: That guy from Facebook was a naturalized US citizen, he wasn't born here. He was born in South America. He's been in Singapore for a while. I don't blame him. I would have given up citizenship here too if I were in his position. I certainly would have moved out of California before the IPO. Why give up Millions to a mismanaged State with an overblown public sector and unpayable pension obligations. Better to save the money and fund the charities of your choice. But we'll see a huge increase in Ex-pats giving up US citizenship for tax reasons and because of the onerous reporting rules the US wants to put on foreign banks. I was going to open a Canadian bank account when the Dollar peaks in 2013 or 2014 at the generational market bottom. Now I'm not sure I'll be able to. If that's the case I'll have to shop around to see which foreign banks with favorable currencies and political stability will still accept deposits from US citizens. There will banks that won't mind the extra reporting headaches if it means they can get Billions in deposits. But be sure of one thing. The more the US makes it difficult to move money out of the country the greater the importance that you do so. We will have a Dollar collapse when we lose the Dollar's reserve currency status. At that point the government will have imposed currency controls to keep the rats (us) from fleeing the sinking ship. When that happens you'll see gold and silver really go parabolic in Dollar terms.