[quote=FlyerInHi]
in the past there was no offshore banking. And few international transactions. Even the richest people kept their money locally and it wasn’t that hard to find out who owned what.
That’s how Thomas Piketty was able to do research on wealth over more than 100 years.
Now, thanks to offshore banking, globalization, easy air travel, it’s easier to diversify and protect your wealth from political risks.[/quote]easy air travel won’t be there if catastrophe really hit. You can’t even leave your own city much less fly out of the country. Your internet will be tracked and and new sign of additional money will be confiscated. If you’re lucky enough to exchange your foreign money to local currency to spend, all they have to do is change the currency and make your new exchange worth only as much as the paper it’s printed on.
I think the point and more likely scenario is the world isn’t going to end, but say with even a disaster like Katrina or the US government deciding to tax retirement accounts or just apply some 10% asset tax to fund a war, it’s good to have as many options as you can afford to lower your risk in general if anything were to happen.
This could be changes to property tax rates, income rates, invasions, you name it.
Yes, if the world is ending tomorrow and the shit is really bad with people killing each other in broad daylight, it really is pointless at that point, but what happens in life is usually the world doesn’t end, so it’s just prudent to do a few of the simpler things.
This is not like that Doomsday Preppers show where you have people spending all their money on the end of the world preparation…It’s just about diversifying and having more options in life to deal with different possibilities occurring.
Everything seems to be viewed as 0 or 1, black or white when in reality, most things are just gray.
