In our endless quest to ...
... seek out new and intelligent ways to diversify our futures outside of increasingly volatile stocks and the depreciating dollar, last year we attended a week- long conference called the "Summit at Sea." Hosted by the Real Estate Guys, we spent a week on on a cruise ship in Central America meeting 130 other like-minded investors and fundraisers. We listened to presentations from a star-studded faculty, including controversial Fund Manager and Economist Peter Schiff, Real Estate Investment guru Ken Mcelroy, and International Man of Mystery Simon Black. Their prevailing message was basically this: don’t sit on your laurels assuming that the economic supremacy America enjoys today will last forever.
World economic history reveals that many many empires have come before us, and that each of them followed a similar pattern to the one we’re in now: a slow and steady rise to power rooted in the pursuit of freedom and liberty, then a peak period of supremacy leading big government, frivolous spending, and unchecked hubris, and finally a rapid demise and succession by other empires that were more focused and better capitalized (China?)
What Did They All Have In Common?
None of them saw it coming. They all suffered from a concept called Economic Decay, which says that one day things are going along fine, and then, at one turbulent inflection point everything starts going downhill seemingly overnight…. then they get worse quickly. Our government is the biggest debtor in the world, and we’re still printing $65B/month to pay for our obligations. Every time we print a dollar to buy goods that nobody in our country worked to produce, somebody in another country gives us a loan to buy a product that somebody in their country did produce. This makes us weaker, and the imbalance cannot continue indefinitely without the scales of power eventually being tipped.
The folks in our country who are alert to these signs are taking steps to protect themselves and their families from the inevitability of history repeating. They are diversifying their assets outside of US equities.
They are buying gold and silver. They are dumping their dollars. They are setting up bank accounts in countries who view fiscal responsibility as an obligation to their people. They are applying for residency in nations who consider privacy and sovereignty as inalienable rights. They are buying real estate outside the US to ensure they have a place to go just in case. They are transferring assets to foreign Trusts and Corporations. They are developing robust “Plan B’s”.
Whether you’ve already begun taking some of these steps, or have no idea that you should be, please start thinking about your "Plan B" before you actually need one. Let's have a 10-minute chat about ways to add some real assets to your portfolio. Book a time that works for you right here.