SovereignLife Freedom Blog

Today a member of SovereignLife (a professional in the offshore services industry) posted a warning in our member forum regarding an apparently fraudulent offshore bank. Here is an excerpt …

“Last week a client who purchased an offshore company from my firm contacted me concerning First Oceanic Bank Ltd. In lieu of spending $350 for a proper introduction to a strong, recognized, compliant offshore bank with my company he used the services of this alleged Bank. the client was drawn in by the fact that the bank was offering a 9% return on investment account. Over the past several months this bank has been excessively promoting their services. Offering debit cards which are supposedly anonymous for a mere €50 as well as quick bank account opening services. The client forwarded €100,000 to his account with FOB. because the client never heard from the bank concerning his deposit, he contacted the sender bank. The sending bank verified that the deposit had been placed on the so-called master account of FOB. He then contacted the alleged bank and requested information on the deposit. He was told that the funds had never made it to their account, and hours later the website was down.”

I’ve heard of this “bank” before, and members have asked me about it. My response was always the same – do not use this bank. To me, the interest rate being offered, the Somalian banking license, and the lack of information as to who is behind the bank are warning enough.

However, it would appear that in this world, where financial privacy is under constant attack, there is a ready (and gullible) market for any “banking” service that pretends to offer such anonymity and privacy.

Take it from me. It’s not worth the risk. Stick with tried-and-true legitimate offshore banks. There are plenty of them. Do not risk your hard earned money on some desire for “privacy” and with any web-based, self-proclaimed “bank” that can turn out to be a scam.

I’ll admit up front that one of the most powerful tools for increasing your own personal freedom is to “spread yourself around” – and not remain the sole “property” of just one nation state.

You see, given the way the world works now – you are deemed to be property. Just look at your passport. Just try to travel with out it. The governments of this world have seized and enforced control over various geographic areas and created states where they enjoy monopoly control over violence and force. If you try to step out of line, the full force of the state will come down on you – reminding you as to who is really “sovereign” – and it’s not you!

The only way I’ve discovered of successfully mitigating this is to remove yourself as much as possible from the clutches of one particular nation state. And you can do this using various offshore strategies – which culminate in the theory and strategies known as PT, being a Perpetual Traveller or Permanent Tourist.

Simply put, this is a strategy of not putting all your eggs in one basket (one nation state), but rather dividing up your life and placing each component under different and more favourable jurisdictions.

To illustrate: instead of living, banking, doing business, and investing in just one country – you can increase your practical freedom by using different countries for different purposes.

Want to do business? Do it from a country where doing business is encouraged and where taxes are low. Want to protect your money? Do it with a bank in a country that is likely to respect your financial privacy and look after your funds. Want to invest? Do in any country where you can get the best returns. Want to smoke dope? Do it in a country where it’s legal.

In this way the word “offshore” simply means any country other than your own.

The world is full of interesting countries – all with their own unique character and set up. If you open your mind and get on a plane, you will soon find places where you can live a lot cheaper, where you have more personal freedoms, where you pay a lot less or even no taxes, and where you can enjoy your life more.

That is the PT option – treating the whole world as your oyster, and treating countries as hotels. You get to pick and choose which offers the best deal.

And the best part of all is that governments around the world all tend to treat visitors to their country a lot better than they do their own citizens and residents!