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ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

July 27, 2018 | Bank Wires & the Hunt for Money

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

QUESTION: Hi Martin,
in reference to the mailing of 500k in bank drafts to the US by a Canadian in Canada – I am wondering what your thoughts are in wiring > 50,000 (CAD) to a US brokerage account, as a Canadian citizen? Do you think there may be potential confiscation or holding of wired funds on either end ( to or from the brokerage account back to Canada) being a Canadian citizen?

A

ANSWER: When wiring money internationally, if it is going to an institution or business, then there is no problem. If you try to send money to an individual, that is when all rules are off. What I would do is ALWAYS test the method first. Sen like $1,000 and make sure it goes through OK.

They do not seem to mess with wires to businesses yet. Everything seems to turn on individuals.

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July 27th, 2018

Posted In: Armstrong Economics

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