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August 21, 2013
Spoleto, Italy
Each summer, I've taken to renting a beautiful wine and olive estate in the Italian countryside and inviting some of the most interesting people I know for a week of lively discussion and debate.
It's an annual ritual I've recently adopted; there's no format, just a gathering of really unique people in a really gorgeous place... with lots of great food, great wine, and great conversation.
There's a dozen or so people in the dining room right now-- two private bankers who flew in this morning, a nuclear engineer turned restaurant magnate, the founder of one of the fastest-growing healthcare companies in the US, a highly successful Internet entrepreneur, etc.
But the topic that's on everyone's mind right now is what's happening in the global economy.
(1)The news this morning tells us that Thailand is in recession. Indonesia is in a bear market.
(2)India's currency is plunging so rapidly that the government is desperately implementing capital controls.
(3) Japan's trade deficit was the third worst on record last month.
(4)Here in Italy, unemployment is at a record high, and financial-related suicides have increased 40% over last year (which itself was a record).
Adding insult to injury, the Italian government has banned cash transactions above 1,000 euros and rolled out a new army of tax police to seize people's assets in a guilty-til-proven innocent system.
One of the banker here, who hails from a boutique firm in Austria specializing in physical gold products, asked very plainly during lunch today: "Is there any good news?"
You bet.
The good news is that this fraudulent system of unchecked, unbacked paper currency is finally coming to an end.
Of course, our faux-scientists who have been awarded society's most esteemed prizes for intellectual achievement tells us that our monetary system is good, solid, and just.
But it's insane to think that four men control over 70% of the world's money supply.
In their sole discretion, they can effectively control the prices of everything, from real estate to rice options to the rates at which governments can borrow.
This system is simply not natural. It's not natural to grant such power and control to a tiny banking elite, no matter what the experts tell us.
It's so unnatural, in fact, it's about as sensible as hanging out with grizzly bears.
Governments and economists are there to tell us that the bears are safe and have been tamed by qualified professionals... that the trainers are the smartest guys in the world, and we should just trust them.
It might work for a while... but eventually, people are just going to get mauled.
That's our monetary system. And it doesn't take a rocket scientist to see that it's obviously not working. The signs are everywhere, from Japan to Jakarta, India to Italy.
And, as uncomfortable and difficult as interim transition period may be, the end of this corrupt fiat experiment is definitely something to celebrate.
Where is the best place to bank in the world?
This is the most common question that Sovereign Man: Confidential members have. Followed by "Where should I establish residency and move to?" The answers of course depend on each specific situation, but in this month's issue we set ourselves a monumental task of analyzing and identifying the best set of options that would suit just about anybody.
This month's seminal issue of SMC includes:
- A detailed analysis of respective banking systems of selected jurisdictions. We look at things like central bank capitalization, central government debt levels, commercial bank capitalization, and commercial bank liquidity.
- All this is broken down to identify which is the safest bank and the safest currency in the world, which jurisdictions are best for corporate banking, where the risk and reward ratios are favorable etc. Everything summarized for you in a user-friendly cheat sheet.
- The best residency and immigration options in the world. Find out which are the two best places to establish residency with a view of obtaining a second passport-- without the need of actually moving there.
- What are the best and easiest passports to acquire if you actually want to uproot your life and move to a new place. All in a systematic overview, designed to give you a direction immediately.
- A boots on the ground account from Iceland. The country was the first victim of the financial collapse of 2008. It's still in a very poor state, with a default and a significant restructuring inevitable.
- But it also has a lot going for it. That's why I'm so excited about it's potential once it's forced to pull out all the stops and attract foreign capital. The opportunities for those prepared will be immense. It should definitely be on your radar.
- An extended set of questions, ranging from what to look for when setting up an offshore corporate bank account to the best deals for farmland in the world right now.
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Neither this email communication nor content posted to the website SovereignMan.com is intended to provide personal financial advice. Before undertaking any action described in this letter, financial or otherwise, you should discuss your options with a qualified advisor-- accountant, financial planner, attorney, priest, IRS auditor, Tim Geithner... Also, nothing published in this letter constitutes encouragement to avoid or evade tax obligations in your home country. Furthermore, you should understand that SovereignMan.com may in some instances receive financial compensation for products and/or services which are mentioned in the letter, and in other cases, SovereignMan.com receives no compensation. The needs of the community come first, and the presence or lack of financial compensation in no way affects the recommendations made in this letter.
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