offshore savings

[Trichome Toker]

So your answer is that diamonds are worth less today, than they where 10 years ago?

That is the one you want to go with?

Are you familiar with charts?

 

[Chamba]

sadly we are quickly heading towards a cashless society...this way the controllers will make more money (though one wonders what they will do once they have all the money??..won't they be bored or something? lol)

cash...I for one will be sorry to see it go.

when it finally, fully happens, sadly, we will all then be shadowed and shackled.

in years to come, in the last, isolated pockets of the Earth where those who dare to barter trade or use coinage will be invaded and crushed.......all in the name of Patriotism, Nationalism and World Peace!

and talking about cash...I used to work for a wealthy guy who wallpapered his son's bedoom walls in one dollar bills..he was a nice guy who had lots of style but that always struck me as crass.(actually, it was only one wall of the kid's bedroom)

and btw the use multiple fullstops (USA aka periods) as a pause, a "linger" or as an alternative to a comma or an etc is one that the writer should try to not over-use...(perhaps I should listen to this advice too)

and as far as I can remember it was Gypsy Nirvana on Overgrow who was the first to use this "........" technique on cannabis forums

 

[KharmaGirl]

I've been writing with periods..........since before I joined OG. I don't quite think anyone could've "started" a trend of writing like that. Just how some people do it. Sorry for intruding

 

[Trichome Toker]

....................................................................................!

 

[billbob]

thanks for the Great info NY General!...... Also I use the ...... and sometimes it's cause I'm smoking ; )

 

[Rosy Cheeks]

A stable of male prostitutes is probably the best investment for your money (better than female prostitutes, because they don't get pregant and slapped around by psychos).

I mean, if the cops turns up; how would they seize these hunks?

And by the way, the bonus is they can give you a good back rub if your shoulders are sore. Gold bars can't do that...

 

[MOSH]

How do cops "freeze banks accounts"?


edit: I know this is a big bump but I've always wondered, whenever it's said that "We froze their bank accounts, etc".. What do they mean by that?

 

[pico]

I am pretty sure when they freeze your account it makes it so you can't take any money out or probably do anything with it. They will freeze it and then seize it if they decide you got the money from illegal activities.

OK, so here is a question. Offshore banking is legal, right? I mean many huge corporations do all their banking offshore. They have the corporations setup in other countries with favorable tax laws and whatnot. I hear that if you setup your corporation in Panama, you pay no taxes as long as all income is from outside of Panama. So you setup a corporation in Panama, conduct business in the US and have your banking in Panama as well (banking privacy laws are good there). So then these corporations don't have to pay taxes. Also it is hard to track down the ownership of these companies and bank accounts because all of this is done through a lawyer and names are not on any public documents.

So my question is....How are these companies able to conduct business in the US and then get the money out of the US and not pay taxes? They must have to take payments directly to the Panama bank account right? How does that work?

 

[Guest]

I thought the government could confiscate gold and silver in rough times like war time. I could be wrong though but I have heard that it has happened in the past during the depression or something.

 

[Dr. Smokepuma]

banks use SS number except the swiss and the islands

banks use SS number except the swiss and the islands

they would find the safety d box at a bank and evenr if it was legal money and ya got caught they would find a way to keep it once the leo has your cash its like trying to move a house by yourself. if a trusted family member can open up a box for u then they wouldn't find it. but remember money can change people in large sums

 

[Dr. Smokepuma]

i just was reading the amount 3g's isn't that much

i just was reading the amount 3g's isn't that much

deposit less than 2g's in your bank then they can report it to the irs.

 

[Tao Jones]

There was a GREAT thread on OG's security forums about this.

It was allll about digital currencies and their potential for storage and movement. Look into Webmoney, Pecunix (gold based), eGold. Some others out there I'm sure...

Chamba I believe you are refering to "Chronic Long-Ellipses Syndrome". Very tough to fight and no health insurance will cover the treatment

 

[Julian]

Now this......was a great fuckin thread

How do cops "freeze banks accounts"?

edit: I know this is a big bump but I've always wondered, whenever it's said that "We froze their bank accounts, etc".. What do they mean by that?

Actually, you can even do the same...(let's say you had a judgment against someone and knew their banking info...) It's merely by direction......very simple..

I thought the government could confiscate gold and silver in rough times like war time. I could be wrong though but I have heard that it has happened in the past during the depression or something.

Bullion.......there is different criteria for "investment"/Numismatics...(personally, I always recommend the latter for several reasons.....several reasons...)

OK, so here is a question. Offshore banking is legal, right?

No, not in the least. Anyone reading this can set up any account, any time, in any country in the world.

I hear that if you setup your corporation in Panama, you pay no taxes as long as all income is from outside of Panama. So you setup a corporation in Panama, conduct business in the US and have your banking in Panama as well (banking privacy laws are good there). So then these corporations don't have to pay taxes. Also it is hard to track down the ownership of these companies and bank accounts because all of this is done through a lawyer and names are not on any public documents.

Nah....from what I have seen and heard and read they're not letting people get away with that if the principals are US citizens..(ie: Your a US citizen....your company is in Panama, let's say further, you even do business everywhere else but US.....As a US citizen, all of your income is taxable despite anything else....

(Now, if you are residing elsewhere, you may be exempt from that countries taxation also, but, US still might pop it's nasty little head out sooner or later and "want their piece"

So my question is....How are these companies able to conduct business in the US and then get the money out of the US and not pay taxes? They must have to take payments directly to the Panama bank account right? How does that work?

Money in and money out is never really the issue, it's the reporting and taxation of it..(I say it all the time, you could walk into a US bank tomorrow with 1MM cash, deposit it...and, hell, even wire it out....but, all docs and notifications will probably be done and made....so......(and, again, to start, as long as they are getting their piece, might very well end at that....)

Above scenario (walk in, deposit 1MM cash......hell, you could say you found it in your trash when taking out the garbage, nothing illegal about that, but, they would know about it and want their piece......

 

[Dj Zion-i]

I am pretty sure when they freeze your account it makes it so you can't take any money out or probably do anything with it. They will freeze it and then seize it if they decide you got the money from illegal activities.

OK, so here is a question. Offshore banking is legal, right? I mean many huge corporations do all their banking offshore. They have the corporations setup in other countries with favorable tax laws and whatnot. I hear that if you setup your corporation in Panama, you pay no taxes as long as all income is from outside of Panama. So you setup a corporation in Panama, conduct business in the US and have your banking in Panama as well (banking privacy laws are good there). So then these corporations don't have to pay taxes. Also it is hard to track down the ownership of these companies and bank accounts because all of this is done through a lawyer and names are not on any public documents.

So my question is....How are these companies able to conduct business in the US and then get the money out of the US and not pay taxes? They must have to take payments directly to the Panama bank account right? How does that work?

very good fuking question uuuummm .....ide say ask a business lawyer who is cool(not in with the cops)and works for other growers .One possibly that you get referred to by successful people in our line of business.Or research it by
contacting one of the people involved in the corporations you were speaking about,or on search engines.

 

[trouble]

No offense, but unless your growing in your closet bricks of pure S.E. Asian White Smack you really shouldnt be confronted with this dilemma. After 9/11 Anti-Money-Laundering guidelines went into effect globally. Today, all financial institutions globally are required to monitor, investigate, and report transactions of suspicious nature to the financial intelligence unit of the central bank in the respective country. An entire industry has developed around providing software to analyze transactions that may constitute illegal financial activity. These software applications effectively monitor bank transactions on a daily basis ( cash, wire-transfers, cheques, securities, credit cards, ect. ) They are called SAR ( suspicious activity reports ) and CTR ( cash transaction reports ) IN the U.S. a deposit of $10,000 + requires a CTR, in Europe $15,000 U.S., and in Switzerland it is CHF 25,000 and in many other counteries there is no requirement. In the U.S. thousands of SAR'S are filed daily. IN Switzerland one or two a year.
In Miami & Atlanta there are a few very reliable Law Firms that can help you with such a situation, they have a gift for the game so to speak. I personally have no need for such consultation. However, this is where I would seek legal advice if needed, not on this site.

 

[Julian]

OK, so here is a question. Offshore banking is legal, right? I mean many huge corporations do all their banking offshore. They have the corporations setup in other countries with favorable tax laws and whatnot. I hear that if you setup your corporation in Panama, you pay no taxes as long as all income is from outside of Panama. So you setup a corporation in Panama, conduct business in the US and have your banking in Panama as well (banking privacy laws are good there). So then these corporations don't have to pay taxes. Also it is hard to track down the ownership of these companies and bank accounts because all of this is done through a lawyer and names are not on any public documents.

So my question is....How are these companies able to conduct business in the US and then get the money out of the US and not pay taxes? They must have to take payments directly to the Panama bank account right? How does that work?

To clarify, the only thing illegal about any of it is tax evasion.......

If the purpose is to not pay your US income tax due, that is when it's a problem...

Recent IRS case in point:

Elmsford, New York - Man Who Hid Income in Offshore Bank Accounts Sentenced on Tax Fraud Charges
On September 13, 2005, in White Plains, NY, Robert Martire was sentenced to 24 months imprison for trying to conceal income from the IRS by hiding money in offshore bank accounts in the Isle of Man. According to the information, in approximately 1994 Martire opened bank accounts on the Isle of Man in the names of several corporations that he controlled. By 1999, the values of these accounts exceeded $578,000. From 1996 to 1998, Matire transferred more than $358,000 out of the Isle of Man accounts, either to himself or to others to expend on his behalf. Matire failed to report this income on his tax returns for the years 1996 through 1998, and falsely claimed on those returns that he did not have an interest in or signature authority over a financial account in a foreign country. Matire also knowingly failed to disclose his authority over the Isle of Man accounts for the tax year 1999.

These days, "offshore" means little....(any accountant would agree..), and, of course, the amount of cases prosecuted, taxed,etc, clearly displays it's ineffective...(It always leads back to you somehow....)

(One will be surprised if they make an inquiry to Zurich about opening an account, and will find they not only want your social, but also information as to the sources of your income you plant to deposit!

Really, countless things one can do in the here and now.........such things really not in question until you have everything you want and then more

When you have everything you want in life, and still have a garage full of hefty bags......well...different story

 

[Guest]

I find alot of your information valuable Julian but it sounds to me like your someone who should quit while they're still a free man...How much are those trash bags goin for?

 

[Truthman]

Correct me if I'm wrong but wouldn't buying certified gold, storing it in a vault and converting the gold into cash when you need it, bypass all the problems that people are trying to avoid?

I say this because gold isn't taxable and therefore doesn't need to be filed with the irs.

 

[Julian]

I find alot of your information valuable Julian

My pleasure....glad it's of use and interest....try to offer what I can....

but it sounds to me like your someone who should quit while they're still a free man...

I've actually written quite a bit on that subject...........and think it's the hardest lesson of all to learn.......and the highest degree of discipline one can ever achieve........

I think your correct........and have known that to be the case for some time now......

I think that point is the most important of all......to everyone.....

 

[Julian]

Correct me if I'm wrong but wouldn't buying certified gold, storing it in a vault and converting the gold into cash when you need it, bypass all the problems that people are trying to avoid?

I say this because gold isn't taxable and therefore doesn't need to be filed with the irs.

Depends what you mean by "certified" and "vault"....

Documentation comes with all of the above, and, bullion of course can be too bulky once you pass a certain amount......whereas numismatic items....well....one can buy and possess coins no larger than a quarter that can be redeemed anywhere in the world for 2MM..(yes, single coins can reach any price.....For obvious reasons, one is best off going with things in under 10k range......very simple, readily available....and, market no where near an all time high as far as I know.....(Numismatics not one of my primary areas of expertise, but, well versed enough....) One could easily spend 9k a day indefinitely at any source with quality items.....with them being fairly liquid anytime, anyplace in the world....

But.........and, a big "but".....

When talking gold, you then step into the realm of the markets....and, as above (or, at least was above at some point...), one does not "just go" and buy bullion.......(If one bough 20+/- yrs ago they would have lost as much as.......I dunno......60%+ of their investment, and, it would have taken 20-yrs more or less to return mack to your initial investment.....)

Numismatic items.......one should not buy if they might have to be liquidated any time in the near future...(I would say minimum 5 years.......)....Like anything else...."art", etc....your not going to buy today and sell tomorrow and expect to make a large profit (might even have marginal loss)......Several years?.......always one should be fairly safe, and, as one enters that topic and industry......you always want items of significance, etc.....they hold their value better....(ie: specific dates......lower mintage......higher grades/highest grades available, etc....which of course, all correspond with pricing....)

(The you have longer term structuring where one might ideally wish to build and develop specific "sets"...(one kind, all dates, specific grades, etc....)

Point being...much better than bullion.......in many ways......more compact....in some cases greater investment potential, etc, but, that market similar to all others..(highs, lows, etc...)