Special Guest: Nick Giambruno. Nick is senior editor at InternationalMan.com (Casey Research), where he writes about offshore banking, second passports, surviving an economic collapse, offshore trusts and companies, geopolitics and crisis investing, among other topics.
Nick Giambruno has a long-held passion for internationalization. He has lived in Europe and worked in the Middle East, most recently in Beirut and Dubai, where he covered regional banks and other companies for an investment bank. He is a published author focusing on international diversification strategies that help people reduce their dependence on any one country. This is a strategy that Doug Casey helped pioneer and makes it very difficult for any government to control one's destiny. In short, Nick's objective is to help people make the most of their personal freedom and financial opportunity around the world. Nick is a CFA charterholder and holds a bachelor's degree in finance, summa cum laude. He is senior editor at InternationalMan.com, where he writes about offshore banking, second passports, surviving an economic collapse, offshore trusts and companies, geopolitics and crisis investing, among other topics.
25 Minutes
Financial Repression
"Financial Repression is Financial Authoritarianism."
"It is not only repressing financial aspects of people's lives but all aspects of life and when you consider the amount of power that is wielded through Financial Repression, it is more accurate to call it Financial Authoritarianism!"
Source of Financial Repression
Financial Repression is needed to help governments finance their debt, where the impedence comes from the level of government spending. Since almost all countries use a central banking model and fiat currencies this allows Financial Repression to exist. It gives the government the tools to implement Financial Repression which it wouldn't otherwise have in a SOUND MONEY System.
"The lynchpin of how Financial Repression is implemented is the Central Banking Model"
"What is fundamentally wrong with this is that it allows the government to take something (that something being Purchasing Power) that is not theirs, without people knowing. You learn in kindergarden that you don't take something that is not yours but that is exactly what they are doing!"
FATCA - Foreign Accounts Compliance Act
One of the most egregious examples of Financial Repression in the international arena is FATCA and the soon to be unleashed GATCA. The Foreign Account Tax Compliance Act (FATCA) effectively begins the process of ring fencing investors options through nothing more than a stealth form of capital controls.
The real issue to banks around the world is:
- Cost of Compliance
- Draconian penalties if even an honest mistake is made.
Therefore they don't want American accounts which is making it horrendously difficult for Americans to now live and operate abroad. FATCA has laid the foundation for GATCA in 2018 which is part of the end game for global taxation.
Like Financial Repression FATCA (and GATCA) is devious and not upfront with the American people. FATCA is a blatant example of "government for the government by the government" versus a constitution based upon "a government for the people by the people"!
Learn more about FATCA / GATCA and more as Casey Research's "International Man" talks what Financial Repression means around the world.
