Today I was informed that my grandma just lost 450,000 rand.
- Thread starter rowenwood
- Start date
When dealing with wealth erosion in SA due to the corrupt Marxist 'leadership' of that country, why not look into illegal means of saving your family fortune? Can't a few beurocrats be bribed to look the other way? Alternatively, how about chartering a flight, and taking out a suitcase full of krugs? Muling the money out a little at a time? Where there's a will, there's a way...
bonds are just paper with facial value that has nothing to do with real value since they are based on credits. One day a whole generation will get "bled dry" with their domestic bonds seeing the level of astonishing credit and debts levels created these bonds emission. And they will faint to be astonished or they were just naive. Domestic bonds are seld to foreign countries and so are submitted to their will and fear. And when tension and demography problem will arise what will happen ?
Why not just buy gold bullion and smuggle the wealth out of the country? Charter a private jet, draw up flight plans for a holiday trip to Europe, then load your granny's gold on board, and fly to a reputable financial safe haven such as Switzerland or Gibraltar. You can then place the funds in a diversified investment portfolio, using a few reputable wealth-management firms (plenty of good ones in both countries, or use US firms), and repatriate them to the US at your gran's convenience.
I would recommend not carrying more than 1/4 of the money on any given flight, to protect against an accident, theft, customs seizure etc.
If you are lucky, the dollar will continue to depreciate and the conversion of wealth into appreciating gold will make the whole venture self-financing.
I would not recommend leaving any capital (apart from her home) in a corrupt marxist kleptocracy like South Africa.
I would recommend not carrying more than 1/4 of the money on any given flight, to protect against an accident, theft, customs seizure etc.
If you are lucky, the dollar will continue to depreciate and the conversion of wealth into appreciating gold will make the whole venture self-financing.
I would not recommend leaving any capital (apart from her home) in a corrupt marxist kleptocracy like South Africa.
I agree that the SA government is corrupt, but I am shocked at the criminal minds on this board! 
If you want to risk losing ALL of it, then charter midnight flights and all that. It only takes one honest customs official to put you in the poor house for good. But if you plan to keep what is left, then the best advice so far was earlier from Steve, get the money in something backed by $ or EUR assets and seek a competent accountant and attorney that has knowledge of SA law. Find out what the LEGAL methods are for taking money out, even if its only a little at a time. Perhaps you will also find some legal recourse against the company that bankrupted. Surely they must distribute remaining assets to creditors and bondholders, but I know nothing of SA bankruptcy law.
Anyway, I am sorry for what has happened and hope you can get it resolved successfully.
If you want to risk losing ALL of it, then charter midnight flights and all that. It only takes one honest customs official to put you in the poor house for good. But if you plan to keep what is left, then the best advice so far was earlier from Steve, get the money in something backed by $ or EUR assets and seek a competent accountant and attorney that has knowledge of SA law. Find out what the LEGAL methods are for taking money out, even if its only a little at a time. Perhaps you will also find some legal recourse against the company that bankrupted. Surely they must distribute remaining assets to creditors and bondholders, but I know nothing of SA bankruptcy law.Anyway, I am sorry for what has happened and hope you can get it resolved successfully.