Doug Casey: Third World Countries vs. America

doug casey is a legend for living and investing overseas and today i'm going to share with you some of his best tips [Music] today i'm going to share with you some of doug casey's best thoughts direct from his own mouth on how to live and invest overseas including in up-and-coming markets that no one's talking about his meetings with politicians his thoughts on lowering your taxes even why he prefers inefficient governments to more efficient ones he's lived in argentina and uruguay he's done deals in africa and asia he's one of the great speculators of our time he's going to tell you how he did it in just a minute it's your first time here my name is andrew henderson i'm the founder of nomad capitalist we're a bote consulting firm for seven and eight-figure entrepreneurs and investors who want to legally reduce your taxes overseas protect your assets get a dual citizenship to make sure you remain free we're also the host of the best offshore conference in the world called nomed capital it's live where doug casey spoke last year people were jumping up and down they were hooting and hollering he's coming back again this year and i want to share with you his best thoughts on living and investing overseas over decades when you look at internationalizing do you look at what do you look for in terms of finding a place that's perhaps the opposite of an empire well it's slim pickings in today's world i mean i live most of the time in argentina and uruguay and look one of the nice things about so-called third world countries is that the governments are much less efficient and much less effectual than in the us and all of these third world countries tend to be actually much more corrupt than the u.s the us is still among the good things about it is it's still a relatively high trust society there's not a lot of corruption really spending a billion dollars to run for president seems a little corrupt you're right you're absolutely corrupt you're absolutely correct but uh in the u.s it's generally dangerous to bribe a cop if he pulls you over uh it can be it's done all the time but it's you know generally dangerous to bribe you got to be careful to bribe most government officials but in the third world it's not only not so dangerous but it's kind of expected so the u.s is moving in that direction though obviously but that's a double-edged sword because when you have all these laws if you don't have corruption and if they enforce those stupid laws of which there are millions quick well you can't do anything so corruption actually becomes a good thing in the u.s it's hard to do anything yes exactly we got all these laws but it's hard to get around them and in argentina we got all those laws but you can get around them so you like it much better in argentina much better in uruguay yeah despite the fact that argentina's got a perfectly horrible government i mean they're an exemplar of stupidity on every level or wise somewhat better but you know these countries anything can change with the next election you said though in argentina you felt the at one point you uh the government treated you as just some some wealthy gringo and all right let him do his thing we got other fish to fry is that a correct summary pretty much uh if if you're a uh if you're not a citizen you're owned by another government so it gives you a little bit of insulation you're a foreigner they can they can kick you out uh my spanish is good enough for taxi drivers and uh and uh restaurant workers but i can't carry on a philosophical conversation in spanish so i can't rock the boat and they're happy to have me there because i i bring you know money and employ the people and so yeah it's uh despite the fact that argentina is very very problematical it's for me it's a very pleasant place to be this is one of the things that people seem to bring up well you don't have certain freedom of speech in some places they'll mention singapore and i kind of wonder why would you want to have all the places you could move why would you want to move there and start protesting and it seems like to me that's why you're leaving it's just to kind of float above some place exactly i don't get involved in politics anywhere i will i will make you know philosophical ideas and concepts i have you know i love to have those kind of conversations with with anybody that'll listen but i'm not trying to convert anybody i'm not trying to convince anybody so uh you know i'm just no matter where i can go i can be a crazy entertaining gringo from their point of view not threatening because i i'm not political what do you think about your even though i'm an anarchist i don't believe in the state what do you think about uruguay who came out and said we're not going to raise taxes or since you're there well let me say that uruguay is very overrated in many ways tell you how stupid uh well i guess i can say this i'll tell you how stupid the average uruguayan is it's a welfare state to start with it's one of the one of the very oldest welfare states in the world which is a pretty unsound foundation that's the bad news the good news is they're only three and a half million people and it's basically a farming country but it's a lot easier to do that with better than 350 million people no that's right that's right and actually uh i was talking about corruption a minute ago but uruguay is one of the two least corrupt countries in latin america no question about that but i'll tell you how stupid well uruguayans are no more stupid than than people everywhere but about six years ago i think they had a plebiscite that voted in an income tax i'm not talking about an income tax was foisted on them by a legislature it was voted in by plebiscite they voted to have an income tax put in that's bad uh and look there's all kinds of things you live in because the legislature nobody's life or property is safe when they're when the legislature's in in session like uh one of the major things in uruguay is tourism mayastansi is close to punta del este which is kind of the it's one of those three or four jet set places in south america and uh so what did they do a few years ago they passed a 0.00 tolerance drunk driving law so you dare not in a beach resort in the summer you dare not have a drink and they have checkpoints that are set up during the tempurata during the season to arbitrarily test you and you better not get caught so there's all kinds of nuisances with uruguay i can go on to but they leave me alone generally speaking they do leave me alone and it's pleasant and peaceful you don't have to worry about the frito bandito or rebels and although they did have rebels during the 80s and the military government at that time nothing like argentina where the generals probably killed about 20 000 citizens but uruguay there were probably about 500 that were disappeared if you were to do it all over again would latin america be the continent of choice well i'm a big fan of africa as a speculator as a kind of an entrepreneur as it were a political entrepreneur everything's so politicized there but uh where would i go you know because i've lived in [Music] i don't know 10 11 12 countries i could count them up and i visited 160 most numerous times basically been living outside of the u.s living in the united states out of the united states for the last 40 years so would i go back to latin america well what are your alternatives i mean that's why you know i i kind of got into the hobby that i have that's related to this which is visiting countries and and getting an appointment with the president or the military dictator how do you do that it's the viewers who want to get an appointment also well uh it's not easy if if if you're just a you know a gulag off the street but i'm fortunate in that i over the years because i've written a lot and i've spoken a lot and you know wind up with well look for instance i've played polo no longer do but i played polo for 20 years you say okay so what uh i play golf i play tennis that's good but polo is kind of a special sport and in any country in the world where they play it if i go to the polo club i'm automatically one of the boys of you know because these are the rich guys that's not exactly a low level exactly and so you meet somebody you talk to them and you know you go home to dinner you meet friends and it's pretty easy in in in these countries you're meeting the president of the united states or something like that yeah the guy's just hanging around so you're going to the factories you know and there's always like for instance i'm i'm uh very interested in art painting and sculpture so uh that's something that people in these countries that are connected do you know and you know go there one thing leads to another i mean it used to be i don't do this anymore really that i'd wander into uh the capital city of some place don't know anybody don't know anything so i would open up the yellow pages which existed in those days and do two things i'd go to lawyers because they know everybody they're absolutely wired if you go to the right law firm and i'd interview a bunch of lawyers they're happy to talk to you who knows i might be a rich guy that can give them business so i'm a retainer perhaps no not necessarily no i'm interviewing them to hire them and if we get along then one thing leads to another and i look in dominica for instance this is kind of an interesting story uh i went there and let me see when did i go there first jesus during the 70s sometimes okay and i met with this one lawyer and we got along very well just chatting we liked each other and i was telling him about what i did and what i thought and he said to me you know mr casey you ought to meet my brother kenny he's the director of the industrial development bank little country sixty thousand people has an industrial development bag that's kind of quaint so he sets up a dinner for me with uh his brother that night and there we are in the restaurant and we're talking and kenny's kind of suspicious of me because it's a black country and i'm a white guy i might be a uhuru jumper and uh so we're blah blah blah talking and uh i this is where i really hatched uh the plan that became the centerpiece of my hobby of talking to guys that ran countries and i told them about my radical plan which i'd never pitched to a government before of how they could um basically turn their nothing nowhere country into hong kong on steroids very quickly and what it would do is enrich every common man in the country because we take all of the government's possessions they had lots of crown land and the you know the state this the post all these things would be put into a corporation and run for profit but the shares would be distributed 70 percent every man woman and child in the country so they all profit from it at that point and i was thinking well 10 would be putting trust for the next generation so that people born in the next 21 years would also have an interest in it and um 15 let's say would be distributed to people that make things happen so i said to kenny i said uh that 15 well that might go to people like yourself for instance and i said when we take with the last five percent when we take it public in new york london and tokyo there will be warrants attached and warrants given out to people that are making things happen and let's suppose that the stock goes public at ten dollars but you might have a million warrants at a penny and i'm hoping that since he's a director of the industrial he can do the math and he thought about it for a minute and actually more thought about it for 10 minutes and he came back and he said and this is one of those things that somebody said that's burned into your mind you said after thinking about it for ten minutes that's very interesting mr casey tell me more about those warrants so i did and i explained what we'd do ten minutes later he went off and he called eugenia charles who was the president of the country at that time remember i was new in that country yesterday he called you mrs charles who became famous incidentally when the u.s invaded grenada this is how we can tell when i was there it was it was just before the invasion of grenada the head of the invasion force of grenada was not ronald reagan it was eugenia charles she was the beard she was the you know for show the us always likes to seem multinational so they got dominica to act as when they invaded grenada so he went off and he called mrs charles and set up an appointment for me with her the next morning now you're saying well okay what happened then because part of my plan was to generate capital uh there's more to the plan i don't want to go into this whole thing but was to sell economic citizenships nobody done it before to my knowledge it was my idea and i think dominica was one of the first countries to do it saint kitts is the big one on the block now so anyway uh he set the appointment up and then it turned out her father who was very sick died that evening and of course she had to cancel all of her appointments and like an idiot i should have just camped out until the funeral was over i don't know how many days that would have taken and gotten the appointment but since it was a spur of the moment thing i said ah i'll come back very stupid on my part but then i thought about it i said wait a minute let's let's cookie cutter this mother and take the show on the road and then i did this in 10 other countries never with success but always with really interesting uh consequences

Channel: Nomad Capitalist

Views: 97,907

Keywords: go where you're treated best, second passport, second citizenship, dual citizenship, international man, doug casey, best places to live, travel around the world, life abroad, taxes, us citizenship, life in usa, leaving usa, cbi, how to invest, leaving america, investing for beginners, living in argentina, living in uruguay, living in latin america, life in america, where to live, best city to start a new life, entrepreneurship, how become ricch, Nomad capitalist live

Id: pt_w_Awt4no

Length: 16min 51sec (1011 seconds)

Published: Fri Apr 15 2022