Why Offshore Banking Privacy is More Important than Ever
The Q Wealth Report
27 June, 2008
It wasnt always like this. When I was growing up and my parents taught me about personal finance, it was considered inappropriate to tell other people who you banked with. In my view, it still is. I may have nothing to hide, but I dont have anything to shout about either!
Privacy is important because it allows us freedom. The freedom to do what we like, as long as its not bothering others. What we do in our own homes is nobodys business but ours. I can understand if we are asking for credit, lenders want references and track records. But if I want to open an account that never goes into the red, I dont see any reason why that should be reported to a credit bureau.
Personally I do all my banking offshore, in jurisdictions where banking privacy is still unassailable. The good thing is these days you can have offshore credit cards in dollars, euros and pounds and it need not cost you a penny more than doing business in a domestic bank. You might be required to report them once a year on a tax return, but that sure beats having your financial information posted on the internet, which is what credit bureaux effectively do. If you want to see some more of my rants about credit reference agencies, check out The Q Wealth Report site and my offshore banking blog, www.petermacfarlane.net.
Look forward to more blog entries about Freedom, Wealth and Privacy. I hope you enjoy them and that you can use the information here to benefit your business and your life. In turn I would much appreciate your feedback, comments and questions. I can be contacted via firstname.lastname@example.org.
Peter Macfarlane is joint editor of The Q Wealth Report an established newsletter dedicated to informing readers about creating, protecting and growing wealth in a secure offshore environment. It also covers international living, banking, retiring and investing. Visit www.QWealthReport.com to see more.
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