Skip to comments.Protect Your Assets OFFSHORE w/Trevor Bradley--02-03-12
Posted on 02/03/2012 9:45:11 PM PST by appeal2
I'm live at Freedom Fest's Global Financial Summit 2012 in the Bahamas. Trevor Bradley of Georgetown Trust joins me to discuss global banking jurisdictions. Georgetown Trust specializes in helping you obtain asset protection, management, and diversification. All of their work is offshore and is protected with respect to privacy and confidentiality. Trevor and I agree, Belize is one of the best banking jurisdictions out there. Belize has never had a banking failure in its history, and banks in Belize are regulated to keep a 24% liquidity rate all year round.
You need to consider offshoring a portion of your wealth. Investments offshore are not illegal. If you are thinking about owning precious metals, an account in Belize can be facilitated through Zurich. For more information contact firstname.lastname@example.org.
Listen to the Interview
If banks in Belize have a 24% liquidity rate, that means you are guaranteed to get no more than 24% of your money back if world markets melt down.
Since “liquidity” can be investments in government securities, much of that liquidity will be unobtainable if thing go to hell worldwide.
I’d hesitate before investing with a guy who uses the term “liquidity ratio” to characterize bank safety. The term of art is “reserve ratio”.
Still, the guy is correct about Belize reserve requirements being around three times higher than in the US. It’s hard to imagine that Belize bank managers having as much appetite for risk as US bank managers insulated by TBTF. Also, there’s not much difference between the rule of law in the US and a genuine banana republic any longer, so maybe the British colonial history makes Belize better from a political risk standpoint.
With a 24% reserve requirement and a market-tempered risk profile, it would take some doing for a Belize bank to collapse unless, of course, management just stole its customers’ deposits. Even then, it wouldn’t be any worse than Jon Corzine ripping off his customers’ segregated accounts at MF Global. And, since he’s a friend of Obama, it looks like a done deal that Corzine is going to get away with it. Rule of law couldn’t be as bad of shape in Belize as it is in the US right now.