What is Next for Eurexpats?

The sky is falling! Or is it? The current situation in Europe, aside from the bitter cold affecting all on the continent, is the future of the currency union. The millions of expats from around the world who are currently making Europe their home include many bankers, business executives, and IT professionals. But along with all those are an untold number of European expats of a very different nature, Romas, or wandering gypsies and construction workers from Africa and the Middle East, as well as thousands who drive the underground economy, selling trinkets on the streets of the wealthy cities on the continent.It is those bottom rung dwellers who will be most severely affected by major economic shifts, but it is wealthier expats who may expect a larger impact on their taxes very soon. The continent is not ruled by the insane idea that by lowering the taxes of the rich, they will just automatically go out and create jobs. Lowering taxes for the rich will merely give them more capital for investing, often causing workers to be laid off in order to make more money to add to their net worth. The only ones gaining will be the brokers.So once again, expats are looking for solutions for the future. I am still a firm believer that holding small denominations of silver bars are a good solution. As an EU resident, you can go to any bank and buy and sell silver on the spot, without having to pay large commissions to brokers/middlemen, thereby being able to react to major changes in the market quickly. I foresee that silver will eventually stabilize between US$45-$50. That of course is just an educated guess. Changing economic conditions may just as well drive the price below $10 or into the stratosphere in the hundreds of dollars.Now back to the taxes: With globalization, the powers that be have assured that there are soon to be virtually no loopholes left for citizens of one nation to be able to hide their fortunes from the taxman in another. Those nations that are still being touted as safe financial havens are on their last legs, and “financial advisors” promising you offshore corporations and tax havens are for the most part fraudsters trying to gain control of your money. After having worked for a good part of your life, using your inherent intelligence, what would drive you into the arms of scammers, when a little investigation would reveal them to be who they really are?One such scoundrel, and believe me, there are still hundreds out there, is the former “Sir” R. Allen Stanford, who operated the Bank of Antigua as his personal piggybank, in the process looting billions of dollars for his own pleasures by buying massive amounts of real estate in St Croix USVI, as well as yachts, airplanes, and mansions around the world. He is currently on trial in Houston, Texas, where he has taken up residence in the plush Harris County Jail.There really is only one word to describe people like him: delusional! Did he really think he was going to get away with his Ponzi scheme forever? Or how about Bernie Madoff? Each just made a deal with their conscience to go while the going was great, spending and buying billions of dollars worth of goods and services, not forgetting to be charitable along the way, while knowing that one day, the gig would be up, and they would spend the rest of their days in prison. To them it was worth the trade off! To you, trusting your fortune to hucksters of any ranking kind of speaks badly for your life experience. Greed usually overcomes all reason, even the old maxim, “if it sounds too good to be true, it is!”So no matter where you live, the world of finance has shrunk, and with every passing day, there are fewer places to hide your fortune. Sooner or later, you will have to access and transfer those funds, while facing a whole new set of rules and regulations, where you will be asked, under oath no less, to disclose the source of the funds. The international drug cartels were the best thing to ever happen to the U.S. Government, in that it allowed them to create new rules for the transfer of funds, make all nations signatories to new treaties regarding same, and the last few rogue holdouts, like Panama, are falling like Mikado Sticks in an earthquake.Where I don’t have to worry about hiding my money. I don’t have any!(Please consider using the PayPal button to donate. Thank you!)[image: The Caravans - Gypsy Camp Near Arles, by Vincent van Gogh]I encourage you to write to me, jamie@expatdailynews.com with any questions or suggestions you may have. Disclaimer: I am not in any travel related business. My advice is based on my own experiences, and is free of charge. (Donations accepted). It is always my pleasure to act as a beneficial counselor to those who are seekers of the next adventure.To read more of Jamie’s opinion articles, see Voices From Exile. You can also contact Jamie at jamie.douglas [at] yahoo.com

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