How To Ensure Your Economic Survival
“The American government is bankrupt,” writes Bob Bauman JD, Offshore Correspondent and Legal Counsel for The Sovereign Society.
“Our federal debt is on track to rise from US$14.3 trillion to US$22.2 trillion…that is an average debt burden of US$71,000 for everyone living in the United States today.
“And you and I are going to pay for it. The sooner you recognize that one salient fact the better off you’ll be.
“You may not have caused this crisis. In fact, you may have been a responsible citizen who paid off your own debts, lived within your means, and faithfully prepared your tax returns every April. But, unfortunately, that doesn’t matter anymore. This debt-storm cloud has grown so large and dark that it’s pouring down on all of us, whether we saw it coming or not.
“So start thinking about acquiring another citizenship and, with it, a second passport. Not only will you have a better chance at economic survival, but of eventual increased prosperity, as well.
“You may never have considered it, but you do have a right to become a citizen of more than one country — and doing so could change your life for the better.
“Under U.S. law, upheld by several U.S. Supreme Court decisions, holding a second citizenship does not jeopardize U.S. citizenship.
“Whether they’re eager to work or retire abroad, to be free of red tape and restrictions, or want to strengthen ties with their ancestral lands, record numbers of Americans are obtaining a second, foreign passport. Many more simply leave the U.S. and make a new home abroad.
“While it’s impossible to know exactly how many Americans have acquired another passport, Professor Stanley Renshon of City University of New York puts the number of U.S. citizens who either hold or who are entitled to hold a second passport at about 40 million of the 312 million Americans.
“So why would any U.S. citizen need to acquire a second nationality and the additional passport that goes with that expanded political status? One very good reason…
“Increasingly, the U.S. government imposes highly burdensome restrictions on the freedoms that the nation’s founders set down in the U.S. Constitution. For people of wealth, in particular, there is now an extensive web cast to catch persons ‘the government’ decides may be doing something wrong. And the current definition of ‘wrong’ is so expansive as to be all-inclusive in the bureaucratic mind.
“For example, the very fact that one has an offshore bank account, creates an offshore trust, or owns shares in an international business corporation — any and all of these innocent financial choices can suggest potential tax evasion in the jaundiced eyes of the IRS. It is not an exaggeration to state that the current IRS attitude is that any American with offshore financial activity is presumed to be engaged in tax evasion.
“An alternative citizenship is, therefore, increasingly important as a personal powerful tool for truly international tax planning and investing. As a national of two different countries, you also can enjoy an extra degree of privacy in your banking and investment activities.
“A second passport can be your key to a whole new world of freer movement, expanded international investment, and greater financial flexibility.
“Who qualifies for a second passport? Legal grounds that may allow a person to have or acquire dual citizenship include:
1) Birth within the borders of a nation’s territory; the 14th Amendment to the U.S. Constitution grants citizenship to any child born within American territory, regardless of the citizenship of the parents…
2) Descent from a foreign citizen parent or grandparent, making blood ancestry a basis, as is the law in Ireland, Italy, Spain, Poland, Lithuania, Luxembourg, or Greece…
3) Marriage to a foreign citizen…
4) Religion, as in Israel and its Law of Return for Jews, and…
5) Formal naturalization; meaning applying and qualifying for citizenship status. The process for receiving the privilege of naturalization varies among countries. Usually, a certain period of residence is required (e.g., five years in the United States), plus good character and an absence of any criminal record, among other requirements.
“Some countries such as Canada offer an accelerated path to citizenship (three years) if you make a substantial financial investment and create new jobs. Few know about it, but the United States has a similar program granting immediate residence to investors, as do The Bahamas, Panama, Uruguay, the Dominican Republic, Chile, and many others.
“One other expensive possibility is purchasing citizenship. Only two small Caribbean area countries offer official ‘economic citizenship’ for sale: the Commonwealth of Dominica and Saint Kitts and Nevis. Each charges more than US$200,000 for the citizenship, based on the number of family members applying and other factors.
“Oddly enough, with all the oppressive laws and taxes now imposed by America’s politicians, the Constitution and laws allow citizens a guaranteed escape hatch. We do have the right to end citizenship and the real possibility of acquiring a second citizenship.
“Thankfully, the possibility exists of making a new home in a new country, even the possibility of eventually leaving your native citizenship behind. It may seem a radical idea to those born and raised in one country, but almost anyone with the financial means and determination can become an international citizen.
“A second citizenship can open doors that otherwise would remain closed to you. Best of all, it can serve as your key to greater freedom, reducing taxes and protecting your assets — or even saving your life.
“It’s time to take matters into your own hands. No rational person should believe that the very government policies that sank us into this economic quagmire can rescue us. Especially when their rescue method will involve yet another enormous dose of the same political malpractice and insanity that brought us here in the first place.
“More of the same will not fix the problem.
“Acquiring a legal second citizenship and finding a new home in another country could be the solution.
“In this time of economic turmoil, you won’t find salvation in Washington. You’ll find it when you look into your own mirror — and when you take appropriate action. Obtaining a second passport is only one step to self-reliance. For additional solutions, continue reading here.”
Kathleen Peddicord
