Does anyone own Property in a foreign Country?

[mawilson 2,133]

do you know if it gets taxed?

If it's your money, I presume it's already been taxed? It's not going to be taxed AGAIN,

if that's what you're asking.

[Amby 490]

yes and I just have an account there

[Waldo 0]

ok I was under the impression I would have to do something differently if I wanted to buy property down there. Thanks for your help guy's. I was also wondering what it was for. If I have a bank account with 2million in it and I'm traveling with my debit card I could potentially take it out in just about any country I want. I guess it's just so they have a paper trail of where all the money from the US is going when our economy takes a #### dive... oh wait. It already has.

[Amby 490]

why would you keep 2 million in one account?

[mawilson 2,133]

why would you keep 2 million in one account?

Depends... for example, all Citibank accounts are now fully guaranteed by the FDIC for the

entire amount in your account. Unlimited guarantee through December 31, 2009.

[Amby 490]

why would you keep 2 million in one account?

Depends... for example, all Citibank accounts are now fully guaranteed by the FDIC for the

entire amount in your account. Unlimited guarantee through December 31, 2009.

awesome...what about after 2009?

[mawilson 2,133]

why would you keep 2 million in one account?

Depends... for example, all Citibank accounts are now fully guaranteed by the FDIC for the

entire amount in your account. Unlimited guarantee through December 31, 2009.

awesome...what about after 2009?

Then it's the usual FDIC guarantee - up to $250,000.

[Amby 490]

why would you keep 2 million in one account?

Depends... for example, all Citibank accounts are now fully guaranteed by the FDIC for the

entire amount in your account. Unlimited guarantee through December 31, 2009.

awesome...what about after 2009?

Then it's the usual FDIC guarantee - up to $250,000.

so it's a waste of time putting it all into that account unless you plan on spending it down to the 250k

[mawilson 2,133]

why would you keep 2 million in one account?

Depends... for example, all Citibank accounts are now fully guaranteed by the FDIC for the

entire amount in your account. Unlimited guarantee through December 31, 2009.

awesome...what about after 2009?

Then it's the usual FDIC guarantee - up to $250,000.

so it's a waste of time putting it all into that account unless you plan on spending it down to the 250k

I don't know if it's a "waste of time" - just risky if the bank goes tits up.

[Amby 490]

why would you keep 2 million in one account?

Depends... for example, all Citibank accounts are now fully guaranteed by the FDIC for the

entire amount in your account. Unlimited guarantee through December 31, 2009.

awesome...what about after 2009?

Then it's the usual FDIC guarantee - up to $250,000.

so it's a waste of time putting it all into that account unless you plan on spending it down to the 250k

I don't know if it's a "waste of time" - just risky if the bank goes tits up.

I say waste of time unless they're going to give me some really fantastic interest rate for letting them borrow my 2 mil

[mawilson 2,133]

I say waste of time unless they're going to give me some really fantastic interest rate for letting them borrow my 2 mil

Not easy to find a fantastic interest rate these days. Money market fund rates are low,

stocks stink and are a very risky asset class, commodities are even worse, corporate bonds

are promising but risky, government bonds are safe but the yields are also very low.

[Amby 490]

I say waste of time unless they're going to give me some really fantastic interest rate for letting them borrow my 2 mil

Not easy to find a fantastic interest rate these days. Money market fund rates are low,

stocks stink and are a very risky asset class, commodities are even worse, corporate bonds

are promising but risky, government bonds are safe but the yields are also very low.

waste of my prescious time. you know how busy i am

[mawilson 2,133]

I say waste of time unless they're going to give me some really fantastic interest rate for letting them borrow my 2 mil

Not easy to find a fantastic interest rate these days. Money market fund rates are low,

stocks stink and are a very risky asset class, commodities are even worse, corporate bonds

are promising but risky, government bonds are safe but the yields are also very low.

waste of my prescious time. you know how busy i am

No problem - I'll be happy to manage your millions for you

[Amby 490]

I say waste of time unless they're going to give me some really fantastic interest rate for letting them borrow my 2 mil

Not easy to find a fantastic interest rate these days. Money market fund rates are low,

stocks stink and are a very risky asset class, commodities are even worse, corporate bonds

are promising but risky, government bonds are safe but the yields are also very low.

waste of my prescious time. you know how busy i am

No problem - I'll be happy to manage your millions for you

will I be calling you mark madoff?

[mawilson 2,133]

I say waste of time unless they're going to give me some really fantastic interest rate for letting them borrow my 2 mil

Not easy to find a fantastic interest rate these days. Money market fund rates are low,

stocks stink and are a very risky asset class, commodities are even worse, corporate bonds

are promising but risky, government bonds are safe but the yields are also very low.

waste of my prescious time. you know how busy i am

No problem - I'll be happy to manage your millions for you

will I be calling you mark madoff?

Only when I have madoff with your money