First thing guys,this is not a suckers conference,but a millionaires conference.These people are not fools,believe me.I am probably the poorest guy here.I bet the average net worth is several million dollars.100 people,maybe 15 couples,5 single women,the rest guys 35 and up.start talking to these guys or listening to the questions they ask the spaekers,and you know thery gotbig bucks.One guy who looks about 75 has a cute latina hanging on his arm.
Most of the confernce is way beyond what I need,but maybe will need someday.It goes beyond protecting existing assets to protecting income.The main words are "trust" and "Variable annuity".
I have been disapointed that little has been said about Panama yet.That comes Saturday.Most of the asset protection guys are from
Switzerland and Austria.Basically you can invest in anything you want,with certain cautions,and be totally anonymuose,unless it gets criminal,in which case they can maybe get at your Swiss account imformation,but it has to go to court in Switzerland to be enforced.And it has something really outrageous for them to approve giving you any imformation.
The IRS has bullied the Cayman Islands and alot of other countiies in to cooperating.Switzerland and Panama tod them to stick it.It was asked is there anything they can do?Answer not without sending in Rumsfield and the boys.
Panama city is nice.Looking out fro my window towards downtown and the bay I count 70 high rise buidings,about 15 under constructon.
They are booming.People are not afraid to have a car and there are lots of european cars.
But the weather is funky.Warm but overcast all the time.I´m told it that way June through October.That alone would probably send me elsewhere.That 3 bedroom 3 bath 2000 sq ft Condo in Cali that rents for $500 there would go for maybe $1200-$1600.One bedroom,good area,$600.Saturday they will tell us about Real estate investing here.Expensive by Colombian standards,cheap by US standards.
I found a great guy here ,one of he speakers,who was willing to sit down with me and go over my issues.He charged me nothing.He specialises in trusts but knows all about the banking situation.His name is Derek Sambrook,englishman,hell of a nice guy.He will consult for 30 miniutes free.He suggested E-mails for inquiries if you need advice.I got more in 30 miniutes with him than the whole conference,because it was directed at my situation.
You can mail him at sambrook@trustsev.com
I haven't been out much.The first day I had some time so I hired a cab a got a 2 hour tour.Similar to Colombia but much more properous,no bad areas I saw.Everybody says except for the worst areras at night its safe.
I bought a new miniture digital camera before I left.either they didn´t give me a battery for it or my step son,who opened the box,didn't notice it.Nobody in Panama has a lithium ion battery for a minolta camera.So no picture report like I planned.
More later,maybe when I´m back Monday.
Pete
