John T. Reed’s hyperinflation/deflation blog
John T. Reed's Review of How to Retire Overseas by Kathleen Peddicord
Posted by John Reed on
Copyright 2012 by John T. ReedWhen I review a book, I often have to tell you what the title should have been to be more accurate. Such is the case here.The book is not about how to retire overseas. Its subtitle is the more accurate title: “Everything You Need to Know to Live Well (for less) Abroad.”For example, the book probably spends about as much time discussing having school-age children overseas as it does retirement.I liked the book a lot in general. It told me of many important things I did not expect.I have no plans to retire overseas, or...
Renouncing U.S. citizenship
Posted by John Reed on
Copyright John T. Reed 2014 Renouncing U.S. citizenship seems to be growing at least as a media story if nothing else. A record number of American residents renounced their U.S. citizenship or long-term residence permits in 2013—more than triple the number from 2012. Even more in 2014 and 2015. However, look at the raw numbers: 932 in 2012 and 2,999 in 2013. The population of the U.S. is 317 million. I do not know if that includes non-citizens with long-term residence permits. 2,999 is 2,999 ÷ 317,000,000 = .000009 or .0009%. A more honest statement would be that insignificant numbers...
When is it so bad that you must leave the country? And where do you go?
Posted by John Reed on
Copyright 2012 by John T. Reed Since Obama got reelected, I have received a number of inquiries about whether we should flee the country. We should prepare to. In order to leave, some other country has to let you in. At present, that is generally not a problem. Most countries give you a 90-day tourist visa automatically. But if and when America gets hyperinflation, I expect Canada and maybe some other countries will require Americans to prove they can afford to support themselves while they are in Canada. You can see a lengthy lists of reasons why tourist visas are...
Swiss francs in an outside-the-U.S. safe deposit box
Posted by John Reed on
Copyright 2012 by John T. Reed I did not wake up until 11 AM this morning. Why? Apparently because I put myself through the ringer yesterday. From SEP to Swiss francs Practicing what I preach, I went to Vancouver, Canada to invest in Swiss francs. The money was previously in a U.S. dollar money market deposit account in a U.S. bank—in a SEP account. That is a sort of IRA. To move it to Swiss francs, I had to withdraw it from the SEP and pay tax on the withdrawal. But I would have had to pay taxes on it...
Countries that may protect against U.S. dollar inflation
Posted by John Reed on
Copyright 2011 by John T. Reed When I wrote How to Protect Your Life Savings From Hyperinflation & Depression in 2009 and 2010, I looked in vain for other countries whose currencies you could put your money in as a safe haven from hyperinflation in the U.S. dollar. I am now ready to recommend some countries for that purpose. Why did I change my mind? The world has continued to change in the last year to 18 months. Plus, I have learned additional information about other countries. Character and capacity Whom can you trust? Bankers speak of character and capacity. Character...