I have been wondering what value this would provide, in a real crisis. It would seem that if the US were to be put in a position where the government was recognized as bankrupt, what would they do? Would they put a tax on personal assets, perhaps, and claim part of our savings? If they were to do this, would it really be a protection to have, for example, gold coins and shares in a deposit box in Canada? It seems likely that Canada would cooperate with the US and divulge information about these assets, so the protection would not be effective
to begin with, my understanding is that US taxpayers are ALREADY required to divulge this information on Schedule B of Form 1040 to the IRS, IF they have foreign bank/financial accts with aggregate value exceeding US$10,000. so nobody should go around recommending that US taxpayers try to "stash" millions abroad in foreign accts unbeknownst to the US govt. this strikes me as ILLEGAL and STUPID.
people trying to outsmart the government on this one should remember: ze IRS has veys ov lerrning zees informations... it would not surprise me if Canadian institutions already require a US social security number for a US-based taxpayer to open an acct, and if not already, then at some point in the future.
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