Could Millionaires Fleeing the U.S. Cause a Wildcard Economic Event?

Cryptogon

For years, I’ve received emails from people who want to move to New Zealand. Some young, some old. Some well off, some not so well off.

Over the last month or so, three millionaires have emailed me about moving to New Zealand.

The three people who emailed me were all going to invest their way into New Zealand. In case you don’t know, millionaires can make “investments” in New Zealand to, in effect, buy different types of residence visas. New Zealand Immigration calls these “Business Visas.” Depending on the type of arrangement and the age of the applicant, between NZ$750,000 and NZ$10 million is required.

It’s one thing for me to leave the U.S., with my meager savings, boxes of books and already old clothes (not much, in other words), but what happens if large numbers these wealthy people leave the U.S., pulling millions of dollars out of U.S. banks and moving it… elsewhere?

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