I would first like to extend a warm welcome to the many new International Men and Women who have joined us recently.
Some of you may have found your way here following the premiere of our recent hit video,Internationalizing Your Assets, which featured Doug Casey, Peter Schiff, and other experts. In case you missed it, you can catch it on demand for free here.
Each Tuesday we send out a Weekly Update Communiqué which brings you the best internationalization resources on the web, recent current events you need to know about, some of the more useful discussions on the IM Forums, and the most recent International Man articles. You can find these sections below, and an archive of previous Weekly Updates here.
As many of you may know, International Man has its roots in the book of the same name. It was first published in 1978 by best-selling author, speculator, and renowned world-traveler Doug Casey.
The original intent of that book was to give readers a general sense of the exciting and opportunity-rich world that lay outside of their national borders, with a review of over 100 countries, valuable “opportunity intelligence,” and the resources that anyone could follow to realize these opportunities.
Even though the book is now clearly out-of-date, the need for information on internalization is more relevant than ever as governments the world over become more desperate. The purpose of this website is to preserve the mission of that book and be the premier location for up-to-date, highly-actionable, and practical information on the topic.
So, why is internationalization prudent?
Doug Casey has said over and over that spreading your political risk beyond one single jurisdiction is the single most important thing he can recommend today.
Political risk is minimized when you don’t depend absolutely on any one particular country. Having all your eggs in one basket only makes it easier for someone to grab them all. Being internationalized makes it much harder for any particular government to control you.
We will no doubt see the major underlying trend of increasing political risk (especially for Westerners) get worse as governments sink deeper into fiscal and moral bankruptcy.
It is only prudent and logical to assume that you will, somehow and someway, continue to be squeezed harder in the pocketbook and subjected to escalating arbitrary and burdensome regulations and restrictions. In short, expect more government and less freedom all around.
The window to protect yourself from these risks by diversifying internationally verifiably gets smaller with each passing week. There are many ways to internationalize that do not require you to leave your home country. It is not necessary (at least, at the moment) that you immediately leave and become an expat.
However it is necessary that you develop the options to internationalize before the government closes the window of opportunity to do so. If history is any guide, it won’t be open forever.
In that sense, it is much better to have developed and implemented many parts of your internationalization game plan a year early rather than a minute late.
There are 4 broad areas of internationalization.
- Savings: This covers how to setup offshore bank, brokerage and financial accounts, foreign real estate and “bolt-holes” in case of trouble, moving and owning gold overseas, and structures like foreign trusts that help to legally reduce taxes. Placing your savings outside the immediate reach of your local government ensures that they cannot be trapped in the case of capital controls, or outright seized at the drop of a hat, such as what happened when the government becamesufficiently desperate in Cyprus.
- Yourself: Obtaining a second passport from another country and establishing legal residency in foreign countries.
- Income: The structuring of your cash flows to reduce dependency on any one source in any one jurisdiction. Establishing additional sources of revenue, international investment opportunities and trends, and setting up an offshore company.
- Digital Presence: This commonly includes your IP address (which can often pinpoint you to a precise physical address), email account, online file storage, and the components of personal/business websites.
You will need accurate information to get started and to navigate the minefield that is out there. The comprehensive Going Global 2013 report from Casey Research will arm you with sound strategies and trusted options for developing your internationalization game plan. Learn more by clicking here.
Lastly I will leave you with a primer on internationalization with Doug Casey.