Posted Jun 2, 2014 by Martin Armstrong
A host of emails have come in on this subject from did non-Americans have assets seized by USA after 1934 to can real estate be used to the extreme won’t they just confiscate all traceable assets.
If you are going to look at real estate to shelter assets, you should look at Texas and Florida. Typically, assets are seized because a person has been sued, lost the case and a money judgment has been entered or the government has imposed some outrageous fine. This is why O.J. Simpson ran to buy a house in Florida when he was being sued by the Goldman family. Why? They cannot be seized by anything other than the failure to pay a mortgage. If things go real bad, we will see State Rights start to emerge.
Florida and Texas provide the widest coverage of asset protection. In Texas, for example, up to 200 acres of land can be claimed under the state homestead exemption, no matter what its value might be. Additionally, there are very few personal property assets that the typical person owns that can be seized to satisfy a judgment. The easiest way to protect the largest number of assets is to reside in a state where laws offer wide protection. You might want to consider buying in Texas or Florida BEFORE any such event because moving simply to avoid paying a judgment or creditors is usually considered a fraudulent transfer of assets. The court in the state where the judgment was entered will rule the assets still “reside” in the original state and order their seizure.
There was no confiscation of foreign assets in the USA and as for confiscating ALL traceable assets that is just absurd and paranoid. There would be massive civil unrest if the government ever tried to do such a thing. The entire global infrastructure would collapse. Nations have gone to war because a country defaulted on its debts. Therefore, such an extreme would be impossible absent a communist revolution.
As long as they can target the upper class for confiscation and default on unfunded pensions on the lower class, they will proceed until they hit the wall of resistance. The French Revolution was actually 72 years in the making. It began with the bailout in 1720 of the Mississippi Bubble. France assumed the debts to prevent war for many non-French were investors. The oppression of taxes to pay for the bailout from 1720 set in motion the French Revolution, which began on the 14th of July, 1789 when armed citizens stormed and captured the Bastille prison freeing the oppressed. The 72 year cycle ended with the December 11th, 1792 trial of the King Louis XVI who was then executed on the 21st of January 1793.