Why bother when you can just have real estate instead?
I'm likely missing something here, but to me this minimises the problem to just a reduction in the number of properties you can move into (assuming some are lost and some of the others sold).
Title to real estate, as well as its ability to be liquidated, rests wholly in the cooperation of the state, as well as their recognition of your legitimate title to same. I’m reminded of the end of Godfather 2.
10-20kg of gold coins buried at gps coordinates in the deep desert has no such limitations.
I think a lot of ultrawealthy who have experience playing the geopolitical game probably must have some hedges like this. Doesn’t Thiel have NZ citizenship without any explicit intention of residing there?
It’s not like value stored like this loses its utility even if the state doesn’t collapse/confiscate your assets/persecute you.
I can’t imagine circumstances where one would end up being a billionaire then ever being a not-millionaire unless you’re thick as a brick.
I'm likely missing something here, but to me this minimises the problem to just a reduction in the number of properties you can move into (assuming some are lost and some of the others sold).