Could Millionaires Fleeing the U.S. Cause a Wildcard Economic Event?

by Cryptogon
Nov. 23, 2010

No question, capital flows where it can best be put to use. The US is a socialist hellhole, it's more communist than so-called "communist" China.

There is a reason all the money is flowing into these previously third world nations, they've liberalized their economic policies, largely embraced private property, and they have little to no regulations (state interference with voluntary trade).

The US could turn this whole shebang around in a day if they just shut down the government and let markets correct. Instead they're expanding government on all fronts and running the printing press full-bore.

Capital is already fleeing the country, no one wants to do business here, capital will continue to flee at an accelerated rate in the coming years until the country has totally collapsed. The government will institute capital controls and price controls to try to fight it to no avail. The big losers will be the poor and middle class who cannot afford to move their money offshore and will be forced to go down with the ship. - ChrisFor years, I’ve received emails from people who want to move to New Zealand. Some young, some old. Some well off, some not so well off.

Over the last month or so, three millionaires have emailed me about moving to New Zealand.

The three people who emailed me were all going to invest their way into New Zealand. In case you don’t know, millionaires can make “investments” in New Zealand to, in effect, buy different types of residence visas. New Zealand Immigration calls these “Business Visas.” Depending on the type of arrangement and the age of the applicant, between NZ$750,000 and NZ$10 million is required.

It’s one thing for me to leave the U.S., with my meager savings, boxes of books and already old clothes (not much, in other words), but what happens if large numbers these wealthy people leave the U.S., pulling millions of dollars out of U.S. banks and moving it… elsewhere?

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