How to Survive CBDCs

Central Bank digital currencies or cbdcs have people really concerned that government is going to totally control their money like never before today we're going to talk facts not fear about what cbdc's Will mean to you and we're actually going to tell you how you can protect yourself [Music] first of all what are cbdcs very simply their programmable money issued by central banks and I want to focus on the actual Solutions today because I think there's a lot of fear out there there's a lot of defeatism people thinking they can't fight back against this here's the truth if you live in a high tax increasingly anti-freedom big unaccountable Western Country no doubt your government and their central banks they want to take away your privacy they want to control what you do they want to hold your spending decisions against you is someone who spent a lot of time outside of the West in more than 100 countries in the last Dozen Years what I've seen is that not every country has the means to or even wants to do that nor will their population support it and so the fact that Western countries are rolling out their own cbdc's which they won't even say don't have some of the worst parts that people talk about should tell you that your country is no more free than the Soviet Union that you thought hey my country's so much better than this at least I have freedom it's really not true anymore we have 87 countries right now that are working on cbdcs and so the first thing that comes to my mind is you've got 196 Sovereign countries that means not all it means not even half and so when people say nomad capitalists go where you're treated best no no no no there's nowhere to run first of all I'm not running I'm running to something where I believe I have more control over my life more freedom more happiness more of all the stuff that I want but the reality is you've got fewer than half the countries in the world by some standards working on or rolling out their own cbdcs the challenge of a lot of people who are watching this if you're listening in English you're probably living in a country like the us or Canada or one like it where the government has increasingly been heavy-handed and you turn on the news and you hear only about countries like yours and you say hey at least the US is in Canada it at least it's not Australia we're not talking about those kind of countries the ones that are not working on the cbdc's in many cases are the ones that you probably have never considered and so if you believe the world is going in a direction where certain countries perhaps particularly Western countries maybe larger countries are going to have increasing control over your finances you might want to look for a non-western you might want to look for a smaller country you might want to look for a country that perhaps was Communist in your lifetime and they're like no we're not going back to that the people will come for us with pitchforks if we do that so you still have countries that are not getting in the bandwagon the same ways not every country got in the bag with bandwagon the Global Tax not every you know country got on the bandwagon with you know information sharing there are always going to be some countries that say no we're not doing that and those the ones that you should be focused on If This concerns you now one of the things that I've talked about recently is that I believe a country like the United States which at the turn of the century had 73 percent of its dollar as the Global Currency reserves it's down to 58 and I believe with a large part of the world being sanctioned by the U.S about 29 you're going to see more and more countries both by necessity out of fear out of Revenge shifting their reserves what's going to happen to the U.S when that happens when their dollar becomes increasingly irrelevant I'm not saying it's going to become irrelevant but it'll be just a little bit every year they're going to get pushed into a corner and they're going to want to roll out stuff to push back and to take the power back they are not going to go down without swinging and so what countries like the US are saying is hey we want cbdc's to help the unbanked and so that's not really an issue in a country that the U.S where there's about four percent of the people are unbanked obviously there are emerging countries where a substantial number of people are unbanked but in the U.S the idea that four percent of folks many of whom just don't want to be part of the banking system that those people need a cbdc is rather laughable of course the government is also talking about how they're going to catch tax evaders which is always the excuse they rolled out you know Global Information sharing for Americans with what's called fatca to where if you're an American and you want to open a bank account in some other country that other bank or financial institution has to tell the US government that you have an account there not a big deal and I think it's still worth it because we don't talk about hiding money we talk about diversifying our money here doing it legally I'm the goody two shoes of the offshore world we do things the legal way and so if you can work with one of our tax Pros to handle a pretty simple form talk telling the US where your bank accounts are you can enjoy diversification higher interest rates you know benefits from holding money in different currencies investments in other places but guess what there are some banks that don't want you because you're an American because they said this is too much work and so the U.S has been trying to stop so-called tax evaders and guess who gets caught in the crosshairs a lot of everyday innocent people people who just want to diversify their money heck even people who live overseas sometimes can't even get bank accounts in the country they live in just because they're American so the whole idea of bringing in the unbanked and stopping the bad guys just doesn't really square with me now let's talk about a few things that you should be aware of with cbdc's what people often talk about is a nefarious narrative and that is that money can be programmed for example the cbdc has been programmed to where you some some spending will be controlled they've said oh we can control inflation which has been a recent topic right you think that these uh the powers that be are happy that inflation is happening and the people are pushing back on them no no they want to maintain power so we can stop inflation by not allowing certain types of spending we'll just program the cbdc to tell you if you spend your money on certain things other people have talked about how hey money could have an expiration date we don't want you hoarding money now what part of the world does that match the the Zeitgeist in a lot of the places where I go I don't hear a lot about the evil Millionaires and billionaires I do hear a lot about it in the Western countries when I turn on the western news how Bernie Sanders now says no one should be a billionaire now even if you're not a billionaire if you could have money if you have more more than 500 you have more money than almost uh than what like two-thirds of people in the United States or the UK people don't even have money to pay for an emergency and so the fact that you have money these countries of course they come to be happy to come for you you think the people in Dubai are worried about people coming with money they want people to come please have money we want you to have money so it's a different kind of culture right now one is on the upswing they don't have to be pushing back on rich people rich in quotes right maybe you have more than 500 countries are on the downswing like the United States where I'm from which was one of the most free economies in the world when I was born it's now like slowly declining every year again when people who are getting cornered you know they tend to lash out and so the other other nefarious narrative these are just theories people put out there is maybe the biggest U.S banks want to practice chronic capitalism and watch small Banks crumble because the small Banks don't have the infrastructure to keep up so those are a couple of things people are talking about do I think some people go too far on some of these narratives yes I do but you have to ask yourself does your government where you live want more control over your money would they love to keep themselves in power well they love to stop things like inflation all by telling you if you have money hey you can't do this with it I think they would one of the things they think they can do number two they've talked about controlling where you shop what I've thought for many years and I think is increasingly you know possible is if you live in a country where everything's given to you now if you live in the United States you pay a boatload of taxes you don't even get free health care at least in Europe you know you get some services but what happens when you need some medical treatment and they go through and say wow you uh you had a lot of Cheetos over the years or you spend a lot at you know Brian's liquor right I'm in Dublin I pass O'Brien's wine I say what if I went in to O'Brien's wine too often or I had too many parties or you know whatever it is hey that's a lot of O'Brien's wine over the years you know what we don't want to pay for it and I'd like to think like you know it's a little conspiratorial but I've always thought the government wanted to control all the services you get wanting this kind of cradle to grave entitlement was all about being able to select people later and say ah you don't get it because they're not good at managing their money I mean show me a western country that's not broke eventually especially people get older in these countries I mean the the trend is moving older right which is why countries in Africa southeast Asia Latin America in some cases where they're much younger that's where all of the future the economy is Western countries with the Aging populations they're going to have too many older people to pay for what are they going to do just keep borrowing indefinitely well what if you you combine it with the fact that the US dollar perhaps is becoming a little bit less and less relevant every year a lot of the countries around the world don't want to buy things like U.S debt I mean it's going to be harder and harder to pay for things and so if you have a list of where people shopped actually I think it could be a little bit of crony capitalism in that I'm going to say you know what I'm not going to go to O'Brien's wines I'm going to buy on my alcohol at Tesco where I can kind of you know use plausible deniability that I just bought that hey I was buying a lot of tomatoes and onions you know I love making tacos at home a taco Tuesday it wasn't a bunch of alcohol and I almost think that's probably unfair to people who sell stuff that you wouldn't necessarily want people to know that you bought or you bought as much of it as you did now one of the things that you could for example do is you could say Hey listen uh you know you're not going to buy your wine somewhere else but what if you were able to go and get your health care somewhere else uh Prince Court Medical Center in Malaysia one that I've raved about for years pennies in the dollar for care Nomad capitalist live our live event taking place this year in Kuala Lumpur mere miles from Prince Court Hospital 301 is what I paid for a wall-to-wall health checkup had ample time to talk to the doctor I never felt rushed amazing Quality Care by doctors trained in the west and so you could come to Nomad capitalist live spend four days learning about how to protect yourself from all the changes happening in the world learn about second passports one of my bank accounts learn about all the different ways to diversify all the different plan a and plan B subjects four days of wall-to-wall information you could practically pay for your ticket with the savings of going and getting your health care at uh Prince Court or Glen Eagles or any of the other top tier amazing you know medical facilities so there's a reason right and I think being Diversified you know using services from around the world is one way to kind of fight back against one government having all of your information obviously there may be times when you have to disclose medical treatment you've received for your insurance company whatever else and I would never tell you to not do that but there's just one way to diversify and if you're trying to learn hey how do I protect myself from what's Happening my country wants to control everything I'm doing four days no matter capitalist live go to Nomad capitals.com live and we will be educating people on all the stuff that Nomad capitalists entails uh this September now what you would learn if you came to a country like Malaysia is not every country is trying to be a nanny State not every population is jealous that other people have some money I honestly think in Malaysia you have some of the nicest people where it's like hey you do you I do me it's not with my business what you do and so some cultures aren't going to care how you spend your money you drink too much that's great there are going to be countries where yeah we don't give you free health care because we don't charge you very much if anything in taxes it's like truly you're on your own and so if you were to move overseas live in a country where they don't want to be the nanny State you don't pay much of anything in taxes and you take care of yourself a lot of the need for the stuff like the cbdc's goes away a country that's not extorting you for money probably doesn't need as much information on you as one that is and then like gives it back to you like hey don't you want your free medical care you gotta wait six months for it's not really going to be an issue in other cultures and again other cultures I believe that this is a key difference I've told you for years culture matters and if you only live in the U.S and maybe you go on vacation to Italy or something or to the UK or you look at Canada or you look at Australia those are not going to be different but there are countries out there where they still want to use cash you go to parts of the Middle East you go to parts of Asia heck you go to Hong Kong it is Cash City or we're going to ban cash they're not Banning cash in those places but yes they are doing it in some places in the west you have to understand that it's isolated to certain parts of the world that will impact on the cbdc argument now here's another issue the bank of England has said hey we're going to use this to prevent Bank runs now they haven't Maybe the they're being a little cagey all these different uh entities on what they're saying but we've basically understand that they say hey this can be used to prevent Bank runs now what does that mean they could freeze your money basically in time of a crisis you've heard about balines in places like Cyprus you've heard about countries like Poland reaching in and grabbing your retirement account we're just going to borrow it countries like Australia have put in place things for bailing laws they have set themselves up that hey if things go badly your money's on the line now they're saying Hey listen three of the biggest bang failures in U.S history this year we're just like let you happen yeah we don't care oh listen and by the way what did the FDIC say all right we'll come in all right fine we'll cover you over the FDIC limit but they basically made it clear that they will decide on a case-by-case basis whether you get your money number one a great reason to diversify and have your money in safer Banks because U.S banks fail more than Banks and any other country combined but I don't want to have my money in a country where they're going to freeze my money in times of Crisis again cultural issue more than financial issue so you're seeing seeing the big governments of the western world that I believe are not being honest I think you could probably say them in a lot of things and so that's exactly where Nomad capitalist comes in and go where you're treated best and I think one of the biggest things that I'm trying to connect with people on is there truly are places that are different from where you're from now you have some countries that are becoming more pro-crypto the bigger ones seed as a threat uh heck I was recently talking to some folks in the crypto space they're like hey the EU in Ireland I mean even they're better than the US and I'm sure that they're not you know the the easiest to deal with uh in the EU but better than the US so there are places that are better what I also think is you have a difference between small countries that are out there trying to escape having the US dollar uh take over they don't want to be entirely reliant on the dollar they want to have control over their own stuff and they are using some of this kind of stuff to have a bit more control versus the larger countries where they're saying Hey listen if you don't you know follow the right social conditions or the right environmental conditions we're going to control your money I do think there's a difference in what you know you see like some of the Caribbean countries doing versus what they're doing in the US and the Western countries and so when people say hey cbdcs are going to be implemented everywhere you live in the world and so hey you think you'll be safe in Malaysia here's where I push back there are people watching who are living in a country where you don't know what to do you've almost resigned yourself to the world's just coming to an end and it feels good I suppose to tell me that I'm a script because you feel like you're screwed so therefore I must be screwed too and then you can feel a bit better about not doing anything about it I truly believe that if you diversify with um in this case different Financial options uh having money whatever that means to you in different places around the world you're going to be in a better position than just sitting and saying well the US nothing bad can happen here or it'll happen everywhere we already identified more than half the countries in the world aren't doing this I actually happen to think and I'm sure I'll get pushback on this that you see some teeny tiny little countries that have done their own cbdc's it's a little gonna be a little bit different than what the bank of England is saying like hey you won't be able to get your own cash and we're going to do that and they've actually been caught with their hands in the cookie jar saying don't worry and then all right fine you should worry it's a little bit different and so please don't look at this as hey there's nothing to do about it there there's nowhere to go it will happen everywhere it's just an excuse to be lazy and so again if you're an American and you think every country's like the US you're just wrong by the way they can already freeze your money in these countries if they don't like you where is it that happens uh I don't see many bank accounts in Serbia being frozen I don't see many uh people's uh gold coins being looted from their private safe deposit boxes in Malaysia I do see that happening in the United States and yes there are some other countries where they are routinely freezing people's bank accounts but you've seen no more coverage than from the United States where a woman who deposited thirty thousand dollars that she made this month selling burritos where people pay in cash had her life savings you know and she she just got you know taken down by the government I don't see that in the rest of the world and you can think that all that that's happening everywhere it's not it's just not and so if they are they already can freeze your money uh this may perhaps just make it worse now people say okay I'll just go and I'll just get a bunch of crypto I'll get a bunch of Bitcoin here's the problem with that again it comes down to culture if the government says Hey listen you can only use the cbdc you can't use Bitcoin do you think Walmart or Tesco or whatever other company's gonna say uh no we're gonna fight back because we believe in like big they're going to do whatever they have to do to go along to get along and so you're going to want to be in a place where you've got better options culturally where the government doesn't want to get involved because they feel a little bit afraid of the people or they've already been there they've already had less Freedom they've kind of they're on the growth phase rather than the phase where weak people are leading the country into Oblivion you know I think that really this is an opportunity to look at how do I diversify myself first of all how to Divorce by my mindset for the reasons that I talked about do I want to fight back or do I want to be a defeatist you want countries that are different and so again we ain't talking about Canada here we're talking about countries you might not think about so much they have worked on cbdc stuff down in some of the Eastern Caribbean countries if you're a citizen of Saint Kitts and Nevis first of all 99 of the time you aren't living in Saint Kitts and Nevis if you are the one percent that does they don't have any taxes in Saint Kitts and Nevis so again the play here is not as strong I really believe that the love of control there is different and so that might be the kind of a country where you say okay I'm going to get a citizenship there you might look at a country like turkey they have a citizenship by investment program they have been pushing back on some of the stuff that's happening in the Western World you might look at a country like I mean there's many vanowatu there's many different potential countries but what I would do is consider that if I'm not going to live in a country it's probably not going to have a lot of sway over me unless that country is the United States which taxes me no matter where I live Australia is now kind of getting into that tax me no matter where I live game by the way it still ways to legally reduce your tax if you're American but number one if I have cryptocurrency or Bitcoin maybe I'm putting that on a hard wall and putting that in a default somewhere if I've got to report that fine but at least it's somewhere else I'm going to get a second passport if I need a duck out of my country because they become a caged tiger and I say you know what I don't want to be your citizen anymore I've got another option I don't have to wait months maybe there comes a time when they say Hey listen uh we don't want your money for second citizenship and most importantly is Robert Kiyosaki told us that Nomad capitalist live in 2021 you want to have a 48-hour plan of where to go when the first starts flying and so you can kind of put those things together have property in another country maybe that gets you a residence permit or citizenship once you can use that as your flag of convenience perhaps it allows you to escape your country I really believe those flags are going to be your key to protecting yourself listen you're going to see more countries say hey you should have less privacy that's been a trend in everything for years but you still have plenty of countries that have not gone down that path Nomad capitalist live we're going to be talking about this we're going to be offering real solutions beyond what we talk about here obviously we also help our own private clients I think that you know having been all over the world this is a different view that the defeatists are not talking about there is a way to protect yourself now some of the stuff I think just goes off the rails I've taken a more moderate approach but you're going to want to protect yourself from all the anti-privacy all the anti-wealth stuff happening to me it comes down to go where you're treated best running to a place that serves you and wants you and running away from a place that doesn't [Music]

Channel: Nomad Capitalist

Views: 599,924

Keywords: nomad capitalist, go where you're treated best, dual citizenship, second passport, The Offshore Banking Scam, scam, second citizenship, andrew henderson, life abroad, leaving usa, offshore, leaving america, moving to another country, investing for beginners, investing, investing for beginners 2022, how to invest, where to live, taxes, advice, financial advice, us citizenship, financial diversify, personal finance, finance, stocks, avoid taxes, Central Bank Digital Currency

Id: YxHL94NJfkQ

Length: 21min 21sec (1281 seconds)

Published: Fri Jun 30 2023