When there is “nothing” on TV, I sometimes watch an episode of National Geographic’s “To catch a Smuggler.”
That is a misnomer. It is about people crossing an international border. Some are carrying drugs. Some counterfeit brand name stuff. Some more than $10,000 cash that they cannot explain is from a legitimate source or being transported for a legitimate purpose. Some are trying to immigrate into the destination nation by sneaking into the country.
I recommend a diversified portfolio of seven foreign currencies (AUD, CAD, CHF, DKK, NOK, NZD, SEK) to protect against USD hyperinflation. And you need them to be offshore because when countries get hyperinflation, one of the first laws they pass is capital controls which requires you to sell any foreign currency you have in the US to the US government for a lousy conversion rate.
I have put a couple of articles on line about crossing borders either to create these foreign currency accounts or to escape USD hyperinflation if and when it happens.
My readers have reported various incidents at borders. There are some rules I keep warning about:
1. There is nothing wrong with creating these foreign currency account hedges.
2. There is nothing wrong with crossing a border with financial instruments that exceed $10,000 BUT YOU MUST DECLARE IT TO CUSTOMS! Financial instruments include a filled-out check, cash, and I am not sure what else. If you are not sure DECLARE it. A blank check is NOT a financial instrument. That is why I recommend just taking a check book if you are opening accounts in the foreign country. Fill it out when you get to the bank after you go through customs.
3. It is normal for customs and border guards to ask questions in a “what are you trying to pull” tone of voice. If you are just following my hyperinflation advice, you are not trying to pull anything. So answer the questions honestly. Some people react to the aggressive questions by lying. JESUS H. CHRIST! DO NOT DO THAT! One of my readers took $40,000 in cash and did not declare it. They found it. They could have confiscated it but they let him go. Another reader of mine ended up in a windowless room in New Zealand. He told them the truth, but they had never heard such a thing before and needed to spend more time understanding it.
4. You must declare your more than $10,000 currency/financial instrument both when you are leaving a country and when you are arriving in one. Normally, you do not go through customs when leaving a nation. But you have go find their office and go in there to declare. And when you arrive, you also may not pass through customs. If so, GO FIND IT before you leave the airport.
5. Americans have a lot of rights and they are very aware of them, but you have none crossing a border. The foreign country is doing you a favor letting you come in. Act like it. Again, you have no rights crossing a border. They can ban you forever if they want. No due process.
If you are crossing a national border pursuant to my hyperinflation advice, I recommend you watch an episode or two of the To Catch a Smuggler to get into the proper frame of mind.
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