Mark Nestmann's Contributions

For me, one of the most ironic aspects of the Edward Snowden spy scandal is watching the reaction of foreign governments to it.

As you may know, the latest quarterly statistics on "expatriation" - i.e., renunciation of U.S. citizenship - were published just a few days ago.

Whistleblower Edward Snowden needs to disappear if he is to avoid kidnapping, assassination, extradition, or deportation to the United States. If you’re ever faced by a situation in which you need to disappear, right away, what would you do?

Sitting in a restaurant in Belize City last week, I was mesmerized by television reports describing NSA whistleblower Edward Snowden. Most of the press coverage of Snowden’s leaks has dealt with the breathtaking scope of the U.S. government surveillance he revealed.

In the aftermath of the forced confiscation of bank accounts in Cyprus, the question that clients ask me most is, “could it happen here?” “Here” is wherever the client lives or invests, and could be the United States, Canada, Australia, New Zealand, Switzerland, or any other country.

I left Zurich recently after a three-day visit. Not having visited the city in winter before, I saw a side of Zurich that I’d not previously encountered. Everything still works flawlessly, and the trains leave exactly on time–not even one minute late.

I’ve written extensively in this blog about the destructive effects of an ill-conceived law championed by President Obama—the Foreign Account Tax Compliance Act of 2010.

One of France’s best-known actors, Depardieu recently paid his French tax bill for 2012. The government’s total take? A whopping 85% of his income!

U.S. investors investing offshore for the first time often wonder why offshore banks won’t accept them as clients.

According to an article in the Houston Chronicle published in May 2010, U.S. Customs and Border Protection (CB&P) officials at Houston’s George Bush Intercontinental Airport seized nearly $160,000 in gold and silver in one month alone. It seems safe to conclude that CB&P confiscates many times this amount at other U.S. border crossings.

While it’s perfectly legal to move precious metals in or out of the United States, you must understand the reporting rules before you begin. Otherwise, your risk confiscation of your metals along with possible civil and criminal sanctions. You’re much better off paying an armored security service such as Brinks or ViaMat to transport the metals for you.

While those championing FATCA (beginning with President Obama) would never admit it, FATCA also has grave implications for the United States, and for U.S. citizens investing or living abroad. Here’s what I foresee in the months ahead, unless Congress repeals or indefinitely delays implementation of FATCA:

Foreign exchange (FX) controls are a popular way for governments to deal with economic crisis. Such laws and regulations typically restrict private ownership of or transactions in foreign currencies and gold.