faq items

Let's consider further about how to protect yourself:

As immigrants in Panama, it is important for us to remain wise about whom we let into the house. Some general rules apply (we elaborate on these topics in our Relocation Seminars.)

1)      Be careful of children, and groups of children. Kids under 18 don’t go to jail. Gangs are usually of kids and lead by someone over 18 who points them in the victim’s direction.

2)      Be careful of any Latin who ‘lets himself into the house.’  It is customary to always ask. ‘Do not take what is not given.’ –that’s something Abuela should have taught.

3)      Pay even more attention to the bi-lingual helper whom you invite over. Look at their character. If they are bi-lingual, why are they not already working full-time with another gringo?

4)      Pay attention to the worker with a family who likes to drink. He could be forced to steal in order to feed the kids, and at those wages, you can see how he got to that position.

5)      People talk about what is in your house. Einstein said, ‘Great minds discuss ideas; Average minds discuss events; and Small minds discuss people.’ You don’t want to find out at the sake of your home security who has a small mind.

As a fellow gringa, and one whose character has come a long way since moving to Panama 5 years ago, I’m going to talk about our Gringo Egos for a minute.

Ego disguised as Southern Hospitality

Think about why you show off the house. It is a source of pride. It says who you are. You are accustomed to measuring your success by the quality of your things.  These are all elements of ego. A poorer person of wealth and or character would certainly like to have some of that.

Likely, your ego will respond to me by saying, that you've made a strong intuitive and logic-based judgment on whom you let into the house.  Fact is, the little gang of kids will run up into the house or innocently walk in and ask for some water. The Native Indian couple will walk into the yard with their starving dog and say they need work. Ask your heart what to do, and consider how to best be prepared for this situation, now that you know.

Identifying Whom to Help

One thing I like about well behaved Latins, is that they insist on receiving permission before coming into the house. They ask where the bathroom is, even if they know. They inform you of where they are going in your house, even after the two of you are well acquainted. The maid does not open the fridge even after you invite her to help herself (because when the maid is at your house all day you are obliged to feed her lunch, but she is too humble to tell you this). She feels uncomfortable making her own sandwich or pouring a glass of water- it's better that you give it.  The culture is: you do not take what is not given.  Therefore, if you give something, it's because you mean it.

We should consider adopting some of this culture. As Americans we take whatever we want (a culture of greed). We feel a sense of entitlement. We show off what we have. We make sure others know about it. We cover up our hollow feelings on the inside by loudly repeating the same stories of accomplishment over a beer in some local dive expecting that no one understands our language. These are all tricks of the ego, which the media has done an excellent job of caressing and building- so that we can become voracious consumers.  

This is a culture that must change. Let us not perpetuate these ugly attitudes in their beautiful country. Lest even the noblest among them should finally throw up their hands and shout ‘fokin gringo go home.’  And could you blame them?

If so- STAY HOME.

For everyone else, be sure to consider visiting us on a tour, conference or seminar at www.PanamaRelocationSeminars.com

The Panama Insider saves you time with her top 20 Restaurants in Panama.

$       The Pirate- Breakfast with a view

$      The Chinese place just in front of the Bocas Marine Tours water taxi. Service can be lame, but the portions are great, and great drink specials. People watching.

Boquete: No reservations necessary

$$     The New Tammy's- Good food, sustainably priced, has optional new menu.
$$     Las Ruinas Boquete- rated local's favorite. You will like the quality. relaxed. $$     Baru Lounge- They have good pizza and ceviche
$$     Bistro Boquete- quality, and I love the lemon pie
$        El Sabroson Cafeteria- cheap cheap and good. Point and serve. Panamanian's favorite. $        Las Orchideas- Authentic Panamanian at it's best. $2.75 plates.

$       A Mi Modo Pizza- 4 toppings, great price

$      The Vegetable Market- Next to Central Park Restaurant (in the park also with good meals and price- if you love starch, this is great with well cooked meats)-  I love Boquete for their fresh vegetables, and discourage you from buying in the super market at double the cost and 1/4 of the selection.   Visit ANIBAL, the Asian Panamanian man with a smile.  Tell him Ellen sent you.  Yesterday, I walked out with a week's worth of veggies (and I'm vegetarian) for just $10!

Yes, but only from 1 source that I know of. Believe me, we're still looking. Allies are necessary.

The following is a statement made to my partner, but first an announcement.

We are looking for alliances.  If you can agree with the following statement, please keep reading:

'....The trend I see happening is that: Panama was built for asset protection. Then comes  the whole economic collapse conspiracy of helping countries develop. The 'money laundering' aspect has been used to bring in tighter regulations right on the eve of everyone deciding that paying taxes to an addicted monstrous government is unjust and unpatriotic. Before *they* put the smack down, they created another secret way of doing asset protection.. that hardly anyone understands... Then *they* boast about Panama's economic development, and teach lawyers who will sell you a Panama corporation or private interest foundation for the same price I charge, but it's not structured right. It can't be, they now have to report client identities. There was recently talk of removing bearer shares.  The money is going to market to the cash cows too lazy to do their due diligence on the real tax consequences.  So people think 'oh Panama for asset protection and relocation- the economy is so good there...'

What people don't realize is that Panama is the meet up spot for the world. A lot of business passes through the country that is not actually based here.  If the US  is going to lead the masses to Panama, you'd better believe they are going to find a way to tighten the grip on their citizen taxpayers  in the future. Fortunately, Panama's statue of limitations is 2 years and the civil code law standard is tough to prove.  Even still, diversification is the name of the game, along with control without ownership,or vise versa. The point is, there's a better way, and you need someone who understands both US taxes and Panama privacy tools, plus a host of other solutions like Swiss Annuities, IRA rollovers, etc in order to gain a complete perspective of 'offshore'.  REAL asset protection is more complex now for US citizens because so many are just annoyed with our demanding natures.   So there's three levels of education the way I see it: There's the basic (what is it, why necessary, how different culturally and legally), intermediate (a close look at global structure options like LLCs, Trusts, Foundations, Corps; products like annuities, insurance, physical gold, and other investments; what they can do from an asset protection standpoint if set up properly; and the advanced level of: putting it into our personal context; fees; asset allocation & diversification that make sense logistically and from a tax perspective.

So how are we going to do that?  Here's the email I am sending out to all qualified tax attorneys.

Hi Mr. Tax Attorney, Thanks again for your call earlier in the week. For an overview of 'who is Ellen Ring' please visit: http://www.panamarelocationseminars.com

What is our key focus and how we may wish to invite you into the equation:

My partner and I are building an education portal that is workflow based focusing on REAL offshore asset protection and Panama relocation with the goal of finally building an asset-backed hedge fund. No hocus pocus, just real business substance.
 
Influences that support the need:
*There's too much information to decode into making an actionable decision.
*No one has automated a way to combine goals, education, and taking action in this realm.
*Part of the reason people don't take action is lack of investment opportunities that justify the costs for building and maintaining (they are unsure of WHAT to do with it.)
*No one is holding their hand on HOW to write and understand their specific relationship to the entity.
*There appears to be no legal staff available for support in case you ever get into a pinch.
*It's hard to follow up on a client's progress and track what they already know. *VIP boutique services can be cost prohibited because of the hand-
holding time involved.
*The knowledge is there, it just needs to be made cohesive, and the process of education needs to be built from a collaborative and social aspect. The unique value proposition: Have you heard of the Khan Academy? http://www.khanacademy.org   
It's a video-based learning tool primarily for math. I'd like to direct your attention to the video with Bill Gates, and also the Overview of Exercise Software for you to understand the user interface and the back office interface of what we are working towards.

This is the core of what we are devising. I don't like reinventing the wheel, but the fundamental flaw here is that the financial education is handed down from Geithner and you must plug in through Facebook, Gmail accounts etc- which is simply unsecured. Since I'm a privacy trustee, that's a core issue. Where could you fit in?
Well I need to determine if we agree on what REAL asset protection is and see if we're both open to ideas on collaboration. If so, I'd like to refer you clients, possibly record presentations, advertising opportunities, and most certainly involve your materials as reference tools for this educational process as well as marketing.

We realize our responsibility to create a brand that is worthy of collaboration with all of your successful efforts. I am delighted and amazed to find that the necessary resources, motivations, and values are available on our side.   

I'm already collaborating with a couple of providers and have been using the system for paying royalties.  Once I have more to show, I'll really begin going after approvals from every approved source on those two topics: REAL asset protection and Panama Relocation.

Your immediate value to me:
I need to make sure that I properly understand withholding taxes, know who is a CFC country, and can provide my clients an American tax attorney reference who understands the combination of structures we engineer. Are you learned on Cook Island Trusts, Nevis LLCs, Cypress LTDs, etc? Have you dealt with an IRA rollover combined with offshore structures or annuities?

If not, this is the immediate* value I can provide to you.

I hope that I've been clear on where our project is really focused, and if you perceive that this might be a mutually beneficial match, I'd like to explore how we can determine if ultimately we can share resources designed to help more people make accurate decisions about going offshore. I'm very interested to begin reviewing your tax bible promoted on International Living.

Do you have any publicly available academic work I can review apart from your informative website? Articles?

Are you open to sharing ideas?

Thanks again for your time and consideration. I am honored to make your acquaintance.

Best, Ellen Ring
The Panama Insider
507-6752-9586
Skype: ellen.ring

Need help protecting your funds from the b.s. in the U.S.? Are you aware of HOW the Hier Act's intended tax consequences will affect your offshore endeavors?
Get specialized solutions to beat the system at:
http://www.panamarelocationseminars.com

Just a quick note from me, and then Simon Black's latest usable notes from the field.

1. Agribusiness, Investing, Immigrant Insights Seminar-
This seminar centers around agribusiness investment potentials in Panama with a think-tank forum. This is your opportunity to bring your best ideas and resources to the table for a brainstorming discussion on how we can

1) create real substance to a joint venture that provides asset-backed investing as well as a hedges against these ridiculous writings on the wall. 2) Let's you meet key players currently positioned in Panama whom are open to collaboration, and also to hear their personal stories on relocation. 3) Provides the platform necessary for us to discuss logistics on asset protection and immigration options. 4) Gives us all a platform to raise concerns on other legitimate investment options available outside Panama.

As usual, extra time will be available before and after the official seminar dates for taking action on your structuring, VIP banking and brokerage introductions, and even more black-book access.

Find out more about Panama Relocation Seminars here.

Simon's tern:
***********************

Date: July 21, 2011
Reporting From: Split, Croatia


Print. Lie. Borrow. Deceive. Deny.  These are a the principal tenants of the Greek restructuring plan that were released today from Brussels... it's as if EU policymakers put it together after shaking a Magic 8-ball.

The whole world knows that Greece is bankrupt and has been living bailout to bailout for over a year. Deep in debt and devoid of cash, the country has completely forsaken its sovereignty in exchange for becoming a ward of the European Union; Prime Minister George Papandreou is now a hapless stooge awaiting instructions from Germany.

It's ironic that the Greek proposal released today calls for a 'Marshall Plan' of investment across Europe... given that the last time Greece was being controlled by Germany was during the country's occupation by Nazi forces after being vanquished by Hitler's 12th Army in April 1941.

And so, with limited debate and even less fanfare, Europe has just officially signed on to destroy its own currency. Utterly worthless, quasi-defaulted Greek debt will become perfectly acceptable collateral, much in the same way that the US Federal Reserve took every scrap of toxic paper it could find off banks in 2008 and 2009.

Given the favorable market reaction, European politicians must be feeling pretty proud of themselves. The euro is up. The stock market is up. Oil is up. Well, never mind about oil, they'll blame that on evil speculators... just like food prices.

And the proposal is so deliberately vague, they can go back home and tell constituents whatever they want. Angela Merkel can tell German voters that the French are paying for it, and Sarkozy and tell French voters that the Germans are paying for it. Win, win!

The European sovereign default SOP has just been set. When Spain, Italy, Portugal, and Ireland's time of insolvency arrives, it will be handled just like this: Print. Lie. Borrow. Deceive. Deny.

Every day it becomes more and more obvious that the financial system as we know it is breaking down. The United States and European monetary union, whose currencies comprise nearly the entirety of the world's fiat reserves, have both signed up to debase their currencies as rapidly as possible.

This is going to kick inflation up another notch as anyone holding on to Greek debt is going to trade out of it as quickly as possible. All that money has to go somewhere... and it's a sure bet that a lot of it will feed rising commodities price (which translates into more inflation).

If you haven't found a safe haven for your savings yet, it's time to start. Now. No more excuses.  A few you could consider:

Swiss franc, Norwegian krone, Singapore dollar, Chilean peso: These four currencies are generally regarded as safer, stronger, and managed by less obtuse central banks.  In a world of fiat, these are among the least worst of the bunch.

Unidad de Fomento (UF): This is a special unit of account used in Chile that was set up during the hyperinflation days of the 1960s.  The UF is designed to keep pace with inflation and it's possible to establish a bank account denominated in UF in Chile. I'll be telling SMC members how to do that in an upcoming issue. Agricultural Property: Nothing hedges your risk against rising food prices like being able to produce your own food. This idea underpins the concept for the resilient community we're planning in South America.

Precious Metals: Portable, divisible, durable, and scarce, precious metals are the classic hedge against rising prices. Gold and silver aren't going to go up in a straight line, and gold in particular is due for a correction, but in a world ruled by an economic magic 8-ball, it's a much safer store of value than a government IOU.

High quality equities: If my only two options are Apple stock and a bank account earning 0% interest, I'm going with Steve Jobs. The chief problem with equities is that the more money that central banks print, the more money flows into equities... pushing valuations up to dizzying (and unsustainable) levels.

Firearms and ammunition: Weapons and ammo serve a dual purpose of providing better home security, as well as a reasonable store of value. Unfortunately, they can also serve a third purpose-- putting you on some government agency's radar.

This list is by no means exhaustive... but if you have the majority of your savings just sitting there wasting away, it's time to act.


Until tomorrow,
Simon Black
Senior Editor, SovereignMan.com To stop receiving these emails:%%unsubscribelink%%

'Young Paddy bought a donkey from a farmer for £100.

The farmer agreed to deliver the donkey the next day.

The next day he drove up and said:

'Sorry son, but I have some bad news. The donkey's died.'

Paddy replied, 'Well then just give me my money back.'

The farmer said, 'Can't do that. I've already spent it.'

Paddy said, 'OK, then, just bring me the dead donkey.'

The farmer asked, 'What are you going to do with him?'

Paddy said, 'I'm going to raffle him off.'

The farmer said, 'You can't raffle a dead donkey!'

Paddy said, 'Sure I can. Watch me.. I just won't tell anybody he's dead.'

A month later, the farmer met up with Paddy and asked,

'What happened with that dead donkey?'

Paddy said, 'I raffled him off. I sold 500 tickets at two pounds a piece and made a profit of £898'

The farmer said, 'Didn't anyone complain?'

Paddy said, 'Just the guy who won. So I gave him his two pounds back.'

Paddy now works for a bank...'

(from the Q Wealth quarterly #54 for paid up members of the Q Wealth Report.)

"You have to decide what your highest priorities are and have
the courage - pleasantly, smilingly, unapologetically - to
say no to other things. And the way to do that is by having a
bigger yes burning inside."
-- Stephen Covey

If your priorities are: preservation of capital, hedging, privacy, profit centers, 2^nd residency, discovering playgrounds, lowering stress and raising your standard of living then I invite you to a free 20 minute consultation at 507-6752-9586.

or Read More.