Praetorian Trust

This is probably the oddest and most stupid mistake I have heard about for while:

Follow link

France and Germany, have found a special kindling relationship in their common fight on harmful tax competition.

We, at Praetorian find this hilarious. Free markets exist so that the consumer can choose, not that we only have one choice to pay the highest tax possible. 

The Current roundtable in Paris of OECD countries (less Switzerland, Luxembourg and Austria) seems more like a diversion, to take the attention away from the real issues at hand, that our economies are rotten, the leaders who have steered us here are rotten.

On Sunday the governor of the Bank of Switzerland stated that there was no banking crisis in Switzerland. On Monday, the Swiss government made a defacto nationalization of UBS while Credit Suisse needed a massive capital injection from private middle eastern investors to stay solvent.

If the largest banks, in the financial “safe haven” of the world are in jeopardy of bankruptcy, what are we to think and, more importantly, what are we to do now to protect our assets. 

Long term asset protection should be the focus of our next meeting with you at the Preatorian Trust offices in Zurich at your earliest time possible in the coming weeks.

In our message to you last week, we suggested that you review the basics of Asset Protection in these stressful times and . We ask you again to review these basic tenets of Asset Protection according to Preatorian Trust: 

1. Be calm and collected 

2. Now is the time to re-structure and weather the storm

3. Secure your assets and nest egg offshore in Gold, Swiss Francs and other safehaven assets

We believe that the time is “Now” to restructure your portfolio. Think about it: When the 91 year old billionaire investor Kirk Kierioan accepts a loss of 27 Billion dollars in the course of his one year investment in Ford motor company we all need to take heed. Taking losses and restructuring, however painful, is the only way forward. 

Are equities, or for that matter, any paper asset class the way forward for you and your family in this extreme financial crisis that we confronting? Kirkorian has been quoted as saying earlier this week that he has lived “one year too long”. Surely after a loss like this we can understand his sentiment. However, he is still left with over 3 billion in the bank, and other billions in MGM Gaming and Hotels so he will be ok.

Meanwhile, lesser investment mortals and entrepreneurs must reconsider our portfolio and restructure our long term holdings. To do anything less will be costly and destructive to you and your family. Praetorian Trust is here for you as your financial guardians to help you think through and pass through these harmful times with your assets in tact and protected.

Who are you to believe is right in this environment: Warren Buffet, who is suggesting that he is moving his personal portfolio to 100% US equities, or Jim Rogers (co founder of the Quantum Fund with George Soros ), who has sold all of his USD dollar holdings? Clearly, until the dust settles and the massive government stimulus is fully understood and digested by the market, we need to re-build and not wait to restructure what you have now.