Nightpoon cereal,
I agree with much of what you say and with things like Five Flag Theory, at least on an intellectual level, though I'm a lot less inclined to act on it when it's just going to make problems for me. When customs harasses me when I go back to the US I just answer their many questions and hope I don't miss my next flight. But I very much believe in libertarian principles such as the individual's right to freedom and privacy so long as they're not disturbing anyone else.
My savings are currently in USD and that is something I worry about. I would love to split what I have up into Canadian, Australian, Swiss and Singaporean currencies, but I'm not quite sure how to go about it. In the case of a monetary collapse I'm skeptical as to how useful gold and silver would be, as opposed to more practical things (gasoline, guns, whatever).
I can't see how getting into Riel would be an advantage over USD, given that other countries don't want it, and it's just as likely to lose its value.
Most of these people commenting don't really know anything about this kind of stuff, so I wouldn't worry about them.
Anyways if you come up with anything I'd hope you'd post it. As others have said, I think Singapore might be your best bet in finding something that appeals to you.
banking research begins
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I met the author (and zillionaire?) Doug Casey at political meeting once. He's the guy who wrote 'The International Investor, also titled 'The International Man (which is waaaaay out of date now, like all those books written in the 1980s, or in fact anything post 9/11 and other 'developments'). He offended the sensibilities of some of the libertarians at that dinner club by saying he didn't believe the 5 flag theory was even possible except for the very rich. I took him to task for his support of apartheid but when I calmed down and we rubbed elbows a little over coffee, he said he expatriated himself from the USA in order to take advantage of the more favourable (to the rich) tax system in Canada. Thus, according to the experts and my own experience the challenge is not getting it done right, but doing it on a low budget. I am more on the level of the ESL teacher than the FXS trader and thus different rules apply (as in 'why bother?') For me, it's not about avoiding taxes because I make so little I would actually be in a better financial position if I took advantage of all the hand outs. It is a matter of principle and resistance to being filed and monitored in any and every sense. Things have changed, and in my opinion for the worse, in the last 20 years. I have several millionaire American friends who bitch about how even getting offshore is now a hassle and not worth it in the long run (e.g. losing control to Cayman Islanders who would control their corporation). I know that there are complicated and not so complicated ways to set things up for independence - I am just a malcontent who is annoyed that I have to jump through hoops in the first place. Money is only one part of it. BTW, Scope Books, which popularized the PT theory, published a lot of in accurate information. As an author affiliated with Scope on non-financial matters, I used to have a business relationship with the proprietor in UK. 'Bill Hill' as a fiction. I corresponded with one of the reincarnating Bills. It was a team effort. Scope was eventually put out of business when they inadvertently broke some British laws prohibiting mailing solicitations of a asexual nature (their tome of questionable value being 'Sex Havens for Tax Fiends' which was as useless as 'Expat World' in Singapore publishing Asia File 'updates' - dangerously out of date, obsolete info being worse than none at all.) Other anarcho-capitalist publishers like Loompanics in Port Townsend Washington, likewise ran scared and closed shop. I do not see any return to western individualist traditions happening any time soon. Islamic fundamentalism is the best thing that ever happened to Big Brother's expansion of power and surveillance. But low-level banking employees don't want to hear about this. They just put me on their 'eccentric' list.
Good Luck!FAO: Chris Moneypenny, Account opening officer, Bank of Singapore.
Dear Sir.
Please find enclosed my completed account application form.
The first thing you might notice is that I have no address, fear not, for I am a Gypsy, and where I live is none of your business.
I am afraid that I am not able to tell you where I bank now as they treated me like a drug smuggler and cancelled my ATM card due to pressure from the US government, I know that you will understand this as governments perpetuate a fraudulent fiscal policy that hurts the working man.
I am but a man of modest means, so enclose my initial cash deposit of 50,000 Lower Slobovia Dongdits given to me by an Israeli prostitute in return for two pairs of my shoes. If you have not encountered this currency before I am told that you need to convert LSD into USD first, and then USD into SGD which will be the currency of my new account with you.
I tried to enclose a few chickens but decided to have them for lunch instead due to the high postage cost.
Yours Sincerely
N B Cerius. (Sir)
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- BubbaRamDas
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Absurd to think of sending chickens to a Singapore bank. I have it on good authority that you would have to convert them to dogs outside of the country, and the exchange rate is not good.
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This might be useful to you.
QUICK FACTS CAMBODIA
Population: 13.9 million
GDP (PPP): $28.1 billion
-2.5% growth
6.2% 5-year compound annual growth
$2,015 per capita
Unemployment: 3.5%
Inflation (CPI): -0.7%
FDI Inflow: $532.5 million
Cambodia’s economic freedom score is 57.9, making its economy the 102nd freest in the 2011 Index. Its overall score is 1.3 points better than last year due to improvements in monetary freedom, labor freedom, and freedom from corruption. Cambodia is ranked 17th out of 41 countries in the Asia–Pacific region, and its overall score is slightly higher than the regional average.
Cambodia continues to integrate into the global trading framework and to make progress in reducing poverty. There has been notable reform in the management of public finances, and the trade regime is more open and transparent.
However, lingering institutional weaknesses hamper macroeconomic stability and retard growth. Weak property rights, pervasive corruption, and burdensome bureaucracy continue to hold back economic freedom, and the development of a more independent judicial system remains a key area for reform. The rigidity of the formal labor market is partly responsible for the existence of an underground dual labor market.
lots of detail at
http://www.heritage.org/index/Country/Cambodia
QUICK FACTS CAMBODIA
Population: 13.9 million
GDP (PPP): $28.1 billion
-2.5% growth
6.2% 5-year compound annual growth
$2,015 per capita
Unemployment: 3.5%
Inflation (CPI): -0.7%
FDI Inflow: $532.5 million
Cambodia’s economic freedom score is 57.9, making its economy the 102nd freest in the 2011 Index. Its overall score is 1.3 points better than last year due to improvements in monetary freedom, labor freedom, and freedom from corruption. Cambodia is ranked 17th out of 41 countries in the Asia–Pacific region, and its overall score is slightly higher than the regional average.
Cambodia continues to integrate into the global trading framework and to make progress in reducing poverty. There has been notable reform in the management of public finances, and the trade regime is more open and transparent.
However, lingering institutional weaknesses hamper macroeconomic stability and retard growth. Weak property rights, pervasive corruption, and burdensome bureaucracy continue to hold back economic freedom, and the development of a more independent judicial system remains a key area for reform. The rigidity of the formal labor market is partly responsible for the existence of an underground dual labor market.
lots of detail at
http://www.heritage.org/index/Country/Cambodia
Isn't that a good thing? Who wants retards growing?However, lingering institutional weaknesses hamper macroeconomic stability and retard growth.
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Sunsan wrote: "Isn't that a good thing? Who wants retards growing?"
Comedian. we should be paid for all this reseach eh?
By the way, that's 102 out of 182, with #1 HONG KONG being the best and #183 NORTH KOREA (179 plus non applicables four countries all the way to Sudan) as worst.
I've complied some lists for the benefit of readers (tiers and interpretations are mine alone). Of course, with ATMs there is no overwhelming practical need to actually bank anywhere near where one lives/works/travels, and indeed PT authors and newsletters have sugegsted that the opposite is true. But, emotionally (I am not an entirely rational being) I like to know that I can walk into my bank and get at my money. There is a gut level non-reason why I want to bank somewhere in a region where I feel comfortable - whether that means language and culture (Anglo nations), or S.E. Asia where perfer to hang out. But as I travel to both South and East Asia I like to have some stashed there too. Maybe, if only to keep ATM fees low. There is obviously no one size fits all solution. And things change such as politisc and economic conditions. If one has a few billion I think one would have to employa fulltime consultant just to keep on top of these things. But for me, it hardly matters.
S.E. Asia
VERY BEST
SEA (i.e. regional) ranking #1
SINGAPORE
world rank 2
score 87.9
comment: This is my experience also. Even banking rules are flexible. Banks will *say* you can't open a bank account on a tourist visa. This is not always true.
GOOD
SEA ranking #2
MALAYSIA
world rank 53
score 66.3
comment: pain in the ass in my experience, couldn't open bank account on tourist visa
SEA ranking #3
THAILAND
world rank 62
score: 64.7
comment: I disagree. Just trying paying your Mastercard in Canada bill from Thailand at a Thai bank!)
SEA ranking #4
CAMBODIA
world rank 102
score: 57.9
comment: Not sure whether Cambo shouldn't really be one tier below considering the world rank comparison with the two above. However, it is my experience that for an expat who doesn't run a business and is not a local, Cambo is better than Thailand.
OK?
SEA ranking #5
PHILIPPINES
world rank 115
score: 56.2
comment: Huh? I found it easy to open an account at a bank in Clark. Have things changed? Like I said, this world rank system is for all kinds of things that are irrelevant to a tourist. The website requires a different or a least a subtler and more detailed read.
SEA ranking #6
INDONESIA
world rank 116
score: 56.0
comment: When I was in Surabaya there certainly were a helluva a lot of banks, but there was some feature of them, which I don't recall that bugged me. Maybe it was low maximums at ATMS.
SEA ranking #7
VIETNAM
world rank 139
score: 51.6
comment: Perhaps some persons familiar with living and working in Vietanm could comment on the pros and cons.
SEA ranking #8
LAOS world rank 141
score: 51.3
comment: Is there still a black market in kip? And this rating system may presume that any economic freedom being restricted is a bad thing. If that is the case, I would disagree. The important thing is not whether it is legal or illegal, but whether one can easily get away with circumventing and even profiting from the rules.
SEA ranking #9
MYANMAR
world rank 37.8
comment: Although inconvenient, changing money for me it wasn't a big deal. And as far as closing all the banks some years back, bravo for the Generals! I love dictatorships if they allow mto fulfill my desires for autonomy. I actually enjoy taking in a pile of US hundred dollar bills to change in order to pay prostitutes and Temple entrance fees
NOTE: I could find no listing for Brunei or East Timor
South Asia (briefer version, sorry running out of time willing to volunteer)
East and North Asia
ranking top to bottom
Hong Kong 1
comment: OK, so maybe HKG is really SEA Asia, but I don't mean climatically
Japan 20
comment: What bullshit - I know a fanous American author who lives in Tokyo - he speaks fluent Japanese and had a work permit and it was a MAJOR hassle opening a bank account. Maybe his threatening to turn it into a court case has changed that bank policy.
Macau 19
Taiwan 25
South Korea 35
Mongolia 94
P. R. China 135
South & Himalayan Asia (I don't include Afghanistan, to me that is Western Asia/Middle East. And while Madagascar is culturally NOT africa, it is so geographically close I class it there. Indian Ocean states I include in South Asia)
top to bottom world ranking
Bhutan 103
Sri Lanka 107
Pakistan 123
India 124
Bangladesh 129
Seychelles 142
Nepal 146
Maldives 154
Thanks for the link Baba Rum Raisin. Enlightening site. But what it really would take to be useful is a forum where in the field members give personal current reports. I distrust organizations of any political stripe.
Comedian. we should be paid for all this reseach eh?
By the way, that's 102 out of 182, with #1 HONG KONG being the best and #183 NORTH KOREA (179 plus non applicables four countries all the way to Sudan) as worst.
I've complied some lists for the benefit of readers (tiers and interpretations are mine alone). Of course, with ATMs there is no overwhelming practical need to actually bank anywhere near where one lives/works/travels, and indeed PT authors and newsletters have sugegsted that the opposite is true. But, emotionally (I am not an entirely rational being) I like to know that I can walk into my bank and get at my money. There is a gut level non-reason why I want to bank somewhere in a region where I feel comfortable - whether that means language and culture (Anglo nations), or S.E. Asia where perfer to hang out. But as I travel to both South and East Asia I like to have some stashed there too. Maybe, if only to keep ATM fees low. There is obviously no one size fits all solution. And things change such as politisc and economic conditions. If one has a few billion I think one would have to employa fulltime consultant just to keep on top of these things. But for me, it hardly matters.
S.E. Asia
VERY BEST
SEA (i.e. regional) ranking #1
SINGAPORE
world rank 2
score 87.9
comment: This is my experience also. Even banking rules are flexible. Banks will *say* you can't open a bank account on a tourist visa. This is not always true.
GOOD
SEA ranking #2
MALAYSIA
world rank 53
score 66.3
comment: pain in the ass in my experience, couldn't open bank account on tourist visa
SEA ranking #3
THAILAND
world rank 62
score: 64.7
comment: I disagree. Just trying paying your Mastercard in Canada bill from Thailand at a Thai bank!)
SEA ranking #4
CAMBODIA
world rank 102
score: 57.9
comment: Not sure whether Cambo shouldn't really be one tier below considering the world rank comparison with the two above. However, it is my experience that for an expat who doesn't run a business and is not a local, Cambo is better than Thailand.
OK?
SEA ranking #5
PHILIPPINES
world rank 115
score: 56.2
comment: Huh? I found it easy to open an account at a bank in Clark. Have things changed? Like I said, this world rank system is for all kinds of things that are irrelevant to a tourist. The website requires a different or a least a subtler and more detailed read.
SEA ranking #6
INDONESIA
world rank 116
score: 56.0
comment: When I was in Surabaya there certainly were a helluva a lot of banks, but there was some feature of them, which I don't recall that bugged me. Maybe it was low maximums at ATMS.
SEA ranking #7
VIETNAM
world rank 139
score: 51.6
comment: Perhaps some persons familiar with living and working in Vietanm could comment on the pros and cons.
SEA ranking #8
LAOS world rank 141
score: 51.3
comment: Is there still a black market in kip? And this rating system may presume that any economic freedom being restricted is a bad thing. If that is the case, I would disagree. The important thing is not whether it is legal or illegal, but whether one can easily get away with circumventing and even profiting from the rules.
SEA ranking #9
MYANMAR
world rank 37.8
comment: Although inconvenient, changing money for me it wasn't a big deal. And as far as closing all the banks some years back, bravo for the Generals! I love dictatorships if they allow mto fulfill my desires for autonomy. I actually enjoy taking in a pile of US hundred dollar bills to change in order to pay prostitutes and Temple entrance fees
NOTE: I could find no listing for Brunei or East Timor
South Asia (briefer version, sorry running out of time willing to volunteer)
East and North Asia
ranking top to bottom
Hong Kong 1
comment: OK, so maybe HKG is really SEA Asia, but I don't mean climatically
Japan 20
comment: What bullshit - I know a fanous American author who lives in Tokyo - he speaks fluent Japanese and had a work permit and it was a MAJOR hassle opening a bank account. Maybe his threatening to turn it into a court case has changed that bank policy.
Macau 19
Taiwan 25
South Korea 35
Mongolia 94
P. R. China 135
South & Himalayan Asia (I don't include Afghanistan, to me that is Western Asia/Middle East. And while Madagascar is culturally NOT africa, it is so geographically close I class it there. Indian Ocean states I include in South Asia)
top to bottom world ranking
Bhutan 103
Sri Lanka 107
Pakistan 123
India 124
Bangladesh 129
Seychelles 142
Nepal 146
Maldives 154
Thanks for the link Baba Rum Raisin. Enlightening site. But what it really would take to be useful is a forum where in the field members give personal current reports. I distrust organizations of any political stripe.
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Bitcoin might be for you ?nightblooming cerius wrote: My challenge is that I am a libertarian/anarchist who distrusts banks
http://bitcoin.org/
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