US teacher’s union prioritizes “white fragility” over children’s education

Here’s our Friday roll up of the most bizarre stories we’re following this week.

Mom can’t sue cop who accidentally shot her child

On July 10, 2014, a Sheriff’s Deputy from a rural county in southern Georgia was in pursuit of a suspect when he wandered onto the property of Ms. Amy Corbitt.

Corbitt’s ten year old child was playing outside with several other children (as young as 3 years old), under the supervision of an adult.

The Sheriff’s Deputy came into the yard, drew his firearm, and ordered everyone (including the children) to get down on the ground.

Needless to say the children panicked, and several started crying at the sight of deadly weapons.

Then ‘Bruce’, the family dog, appeared. And according to witness reports, he was completely non-threatening.

Yet for some bizarre reason the Deputy tried to kill the animal, firing two rounds from his weapon at Bruce.

But the Deputy missed. And instead he accidentally shot Ms. Corbitt’s ten year old child in the leg.

You might be thinking– which is worse? The fact that the Sheriff’s deputy drew a deadly weapon in the presence of so many children… or that he tried to kill a defenseless animal… or that his aim was so poor that he shot a child instead…

I’m going with (d), none of the above.

As you might imagine, Ms. Corbitt filed a lawsuit against the Deputy. But a federal court just dismissed the lawsuit last week, stating that the Deputy has ‘qualified immunity’ because he shot the child as part of his official duties.

The Court also stated that “intentionally firing at the dog and unintentionally shooting [the child] did not violate any clearly established [Constitutional] rights.”

Click here for the full story.

Professor of Feminist Studies investigated for discrimination

A Feminist Studies doctoral candidate recently drew the ire of a California University because she stated that being a woman requires not just a female personality, but a female body as well.

This feminist, who has also taught and created classes at the University, doesn’t like transgender men calling themselves women. She says they are appropriating female culture.

Her website says her research involves, “the mistaken idea that biological sex is socially constructed or possible to change… and the abusive and dangerously experimental practices of medically “transing” children and young adults.”

Because of this difference in opinion, students and faculty have alleged that she has violated anti-discrimination law, and are urging the administration to take action.

University officials are now investigating and soliciting feedback from students about how to proceed.

Click here for the full story.

National Education Association not actually interested in education

The National Education Association (which represents school teachers) is the largest labor union in the US.

And the union just held its annual conference, where officials voted on a number of resolutions to more clearly define its policies and values.

At this year’s meeting, the NEA voted to teach “white fragility,” which is, they say, produced by a white supremacist culture.

They also endorsed abortion, reparations for slave descendants, and recognized the US as a destabilizing force in South America which has led to the current immigration crisis.

Yet when the resolution which would “make student learning the priority of the Association,” went up for a vote, it failed.

However you might feel about these issues, we can probably at least agree that the teacher’s union should probably be focused on… teaching… rather than politics.

Apparently white guilt indoctrination is more important than real education.

Click here for the full story.

Colorado State University thinks the word ‘America’ is offensive

 Colorado State University recently published an ‘Inclusive Language Guide’ to help people avoid words that might be considered offensive.

This list of offensive words includes “America” and “American” because it “erases other cultures and depicts the United States as the dominant American country.”

Gender words like male, female, ladies, and gentlemen should also be avoided, along with phrases like “food coma”, “starving”, “senile”, and “no can do”.

Click here for the full list of offensive words.

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Living like a Hollywood king in Bangkok, Thailand

The first time I met Steven Seagal, it was in the lobby of a posh hotel in Bangkok, Thailand.

He came downstairs sharply dressed, complete with his yellow-tinged ‘Tony Stark’ sunglasses, ready to hit the nightclubs for the evening.

My friend Adam introduced us. Steven bowed to me, and, slightly puzzled, I bowed back, unsure if we were saying hello or preparing to engage in ritualistic combat.

Fortunately it was the former, and Steven left shortly after for one night in Bangkok.

He was in town shooting a movie, of which my friend Adam was producing. Adam has a really wonderful business, as a matter of fact.

His production company is based in Thailand where EVERYTHING is cheaper. So they’re able to produce films for a fraction of the cost of a western production budget.

But at the same time, his Thai crews are highly talented– sound engineers, camera operators, makeup artists… they’re excellent. So Adam’s company is able to achieve excellent production quality but pay almost nothing for it.

I went to their set last week when I was in Thailand; they had taken over one of Bangkok’s most prominent train stations to shoot a few scenes with a well-known Western actor, and I found the professionalism of the crew to be extremely impressive.

It’s not difficult for Adam to enlist Hollywood stars to come to Thailand for a few weeks of shooting. People generally adore Thailand and relish any opportunity to spend time in the country.

But perhaps best of all, he’s one of just a handful of companies doing this.

If he were in Hollywood, he’d be competing against countless other production companies, paying exorbitant prices for everything, and constantly battling with unions.

But in Thailand he’s an industry leader with a great business model; as an example, Adam explained to me on the set last week that the movie had been pre-sold to a major international distributor.

In other words, there was already a built-in profit before they had even started production.

This is a pretty big departure from most films, which dump enormous amounts of money into production with no guarantee of commercial success at the box office.

So my friend has carved out a pretty great niche for himself.

And to me, his story is a great example of some of the many benefits of going abroad.

Being overseas often unlocks some very rich, wonderful experiences you’d never enjoy otherwise– different cultures, language proficiency, lower cost of living, etc.

But from a business perspective, being abroad can often lead to much greater commercial success, much faster, and with less risk.

I would include myself in that category; the agriculture business I founded here in Chile a few years ago has already grown to become one of the top producers in the world in its industry.

And there’s just no way I would have been able to achieve the same thing had I started the company in North America or Europe.

My colleagues in the United States who are in the same industry pay 10x to 50x more for an acre of land in California or Washington State than what we paid down here in Chile.

Their labor costs are easily 10x higher. Their regulatory burden is insane.

And yet, because we sell a product with a global market, we generate the same amount of revenue in Chile as they do in the United States.

This means that our start-up costs are lower, our risk is lower, and our long-term profitability is much higher.

The same lesson applies to investing– which is something you can take advantage of without ever leaving your living room.

While most western markets are teetering on all-time highs with investors paying near-record multiples for every dollar of a company’s average long-term earnings, there are overlooked pockets of value all over the world where patient investors can buy shares of high quality companies at major discounts.

Even something as mundane as banking can often be better, safer, and more profitable overseas.

Depositors in Europe and the United States, for example, suffer from pitifully low interest rates in their bank accounts (which in some cases are even NEGATIVE).

Yet there are some banking systems overseas that are extremely well capitalized, liquid, guaranteed by a solvent, cash-rich government or insurance fund… and pay interest rates in the mid to high single digits.

However few people ever consider the prospect of doing business, banking, or investing abroad.

That’s because– especially in North America and Europe– people often grow up with a certain sense of exceptionalism.

It’s almost a prized cultural value in the West for people to believe that their country is the best at everything… so they deliberately close themselves off to any opportunity beyond their own borders.

This might be a nice idea when it comes to sports. Everyone wants to cheer for their home country’s national team.

But this type of thinking has no place in business or finance.

The world is a big place, and there are a LOT of options out there.

Think about where you live right now– most likely you didn’t end up there by accident.

You probably carefully considered a number of different housing options, even different cities, balancing job prospects, the local school system, proximity to other family members, etc. before finally deciding on where you would settle and raise your family.

You can go through the same analysis when it comes to your business, your savings, and your investments: when you weigh all the different factors, where is the BEST place for them to call home?

If you open your mind to the entire world, the answer just might surprise you.

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Insanity: Now even JUNK bonds have NEGATIVE yields

75 years ago this month, a group of 744 delegates from around the world gathered at the very posh Mount Washington Hotel in New Hampshire to build a brand new global financial system.

The year was 1944. World War II was still raging in Europe and the Pacific.

But with the successful invasion of Normandy well underway, the Allies knew that Hitler’s days were numbered. And they needed to start preparing for a post-war world.

Everyone knew the US would emerge from World War II as the the dominant superpower.

So the financial system they designed put the United States at the center of the world economy.

They called it the Bretton Woods system, named for the town in New Hampshire where they gathered.

And their central idea was that the value of the US dollar would be fixed to gold at a rate of $35 per troy ounce, while every other currency would be fixed to the US dollar.

The Swiss franc, for example, was fixed at a rate of 4.3 francs per US dollar, while the Danish krone was fixed at 4.8.

Bretton Woods ushered in a period of remarkable economic stability worldwide.

During the roughly quarter-century that the Bretton Woods system was in place, banking crises were almost nonexistent. Recessions were rare.

And global debt fell from nearly 150% of GDP at the end of World War II, to roughly 30% by the early 1970s.

Then it all came to a screeching halt in 1971.

The United States, weighed down by a costly war in Vietnam, suddenly and unilaterally terminated the agreement.

The US government wanted the flexibility to print as much money as it needed without being forced to maintain the gold standard.

So the whole system collapsed, practically overnight.

And it was replaced by a new standard where unelected central bankers have supreme authority to conjure near infinite quantities of money out of thin air.

The effects have been pretty disastrous.

Ever since the end of Bretton Woods, global debt has skyrocketed to roughly $200 TRILLION, approximately 225% of GDP.

Banking crises and financial shocks have become much more commonplace. Market crashes are more severe. Recessions are more common. Inflation worldwide has soared.

(It’s ironic that, back in 1944, the price of a room at the Mount Washington was $18. Today it’s over $250.)

Perhaps most of all, we now regularly witness some of the most extreme financial anomalies imaginable.

And one of the most obvious examples of this is negative interest rates.

In a number of countries, including Switzerland, Japan, Denmark, and the entire Eurozone, central bankers have printed so much money that interest rates are actually negative.

If you buy a TEN YEAR German government bond, for instance, your annual investment return will be NEGATIVE 0.27% per year, based on this morning’s rates.

That’s insane.

But just a few days ago the insanity reached a whole new level.

According to the Wall Street Journal, there are now some JUNK BONDS in Europe that have negative yields.

Think about this: a junk bond is basically debt issued by a company with financials so risky that analysts expect there’s a good chance the company won’t pay its debts.

Hell, the company might not even be in business by the time the debt matures.

And yet, despite these substantial risks, investors are willing to loan money to these companies… at NEGATIVE rates of return.

Seriously?? You take all that risk and then GUARANTEE that you’ll lose money.

Honestly I’m not a pessimistic person. But this sort of absurdity makes me pause and consider what might happen next.

The global economic expansion is one of the longest on record, ever. Financial markets around the world are soaring at all-time highs. Stocks. Bonds. Real Estate.

One of the only things we know for sure about financial markets is that they are ALWAYS cyclical. Up/Down, Boom/Bust. These cycles have been with us forever.

It’s impossible to predict exactly WHEN the decline will occur. But when you see JUNK bonds with NEGATIVE yields, it’s likely that we’re probably close to the end of the boom phase.

It’s possible this madness could continue for a while longer. Or it could end tomorrow.

No one has a crystal ball… but the important fact is to realize that at some point, this trend has got to correct.

All the trillions of dollars printed out of thin air to buy securities that yield negative interest rates will eventually have consequences.

That’s why I think makes sense to take sensible steps to protect yourself… no matter what happens next.

That’s why I own gold.

Gold is still one of the only asset classes in the world that’s not anywhere near an all-time high (unlike stocks, bonds and real estate).

In fact, relative to what’s going on in the world, gold is downright cheap.

Gold is something people tend to buy in times of uncertainty… and right now, there is a lot of uncertainty.

Between trade disputes, financial madness, and the Bolsheviks coming to power, I see a lot of reasons to own gold.

Gold is also at an interest tipping point: gold supplies around the world are falling, and that could be a major catalyst for much higher gold prices in the future.

It’s never a good idea to dump all your life savings into any one thing. But at a time when central banks are printing more money out of thin air, and the bull market is long in the tooth, allocating a portion of your savings to gold can make a lot of sense.

As part of Sovereign Man’s 10th anniversary celebration, I’d also like to share another complimentary preview of one of our premium reports.

Inside, you’ll learn three ways to profit from gold’s likely surge.

And for a limited time I’d like to extend you a rare invitation to join our flagship international diversification service, Sovereign Man: Confidential, at over 60% off.

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Congress courageously sticks US taxpayers with a $6 trillion liability

There seems to be an unwritten rule with lawmakers that, every time they create a terrible piece of legislation, they give it the most noble-sounding name.

The USA PATRIOT Act from 2001 was a great example. It sounds great. Who wouldn’t love a law named for Patriots?

And yet that was easily among the most freedom-killing laws ever passed in US history, giving the federal government nearly unlimited authority to wage war and spy on its own people.

There are so many other examples– the USA FREEDOM Act from 2015 (which renewed many of the worst provisions of the PATRIOT Act).

Or the HIRE Act from 2010, which created some of the most heinous tax rules of the last fifty years.

The names of these laws all sounded wonderful. But their effects were absolutely terrible.

The new SECURE Act will likely be no different.

If you haven’t heard of SECURE, it’s a new piece of legislation aimed at ‘fixing’ the US retirement system.

SECURE stands for “Setting Every Community Up for Retirement Enhancement”, which is pretty clever when you think about it.

People want to associate their retirement with a word like ‘secure’. So even without knowing anything about the law, most people will probably have good feelings about it based solely on the name.

But if you actually read the legislation, SECURE contains a number of predictably terrible consequences.

For starters, SECURE is a basically a gigantic tax increase. And it’s a tax increase that will particularly affect your children when you pass away.

Under current law, you could leave your IRA to your children in a fairly tax efficient way. That’s actually one of the nice things about an IRA.

If your kids inherit your IRA, they’re required to pay out a small portion of the funds each year… and those distributions would be taxable income.

But the current rules only require tiny distributions; your kids are allowed to stretch out the annual payouts over the course of their lives, resulting in very minor taxation.

The new rules completely eliminate this benefit.

Under the SECURE Act, your kids would have ten years to pay out (and be taxed on) the entire value of your retirement account.

This means that the annual payouts would be MUCH larger… thus bumping your children up to a higher tax bracket… meaning that they’ll end up paying much higher taxes on your retirement savings.

This is tantamount to a huge estate tax increase. And it’s one that primarily affects the middle class.

For wealthy people, retirement accounts typically only comprise a small percentage of their assets. So this rule change won’t have much of an impact.

But for the middle class, retirement accounts are often one of the largest sources of their estates. And this legislation will be a significant hit for them.

The US House of Representatives already passed the SECURE Act. And just in case you’re about to start hating on your least favorite political party, you should know that it was passed with almost unanimous support from both parties.

(though I have my doubts whether most members of Congress even read the legislation…)

It’s currently in the Senate and seems likely to pass, so this is a reality to prepare for.

In related news, Congress also made some movement on the Rehabilitation for Multiemployer Pensions Act.

Sadly this one doesn’t have a catchy acronym. But in essence the legislation is their comical attempt to address the multi-trillion dollar problem of unfunded pension plans in the Land of the Free.

We’ve talked about this before a number of times– the vast majority of state, local, and even corporate pension plans in the United States (and worldwide for that matter) simply don’t have enough money to keep their promises.

Moody’s Investor Service estimated last year that the total pension funding gap in the US is $4.4 trillion. A few months ago the American Legislative Exchange Council estimated it at nearly $6 trillion.

Bottom line, it’s a big number.

Pension plans in the United States are currently guaranteed by a quasi-government agency called the Pension Benefit Guarantee Corporation.

The PBGC is sort of like an FDIC for pension funds… so that if a pension plan goes bust, the PBGC will step in with a bailout.

Problem is, the PBGC itself is nearly insolvent and will run out of money in 2025. And its balance sheet is trivial compared to the multi-trillion dollar pension problem.

So Congress came up with a solution: go into DEBT!

According to the new legislation, whenever a pension plan runs out of funds, Congress wants them to borrow money in order to keep making payments to beneficiaries.

This raises an obvious question: who would be insane enough to loan money to an insolvent pension fund?

Well, you’ll be pleased to know that your esteemed members of Congress have courageously signed you up for the task, putting the American taxpayer on the hook for this potential $6 trillion liability.

Clearly this plan is the work of genius.

If nothing else, these two laws point to an obvious conclusion: it’s more important than ever to get your house in order when it comes to retirement planning.

Pension funds aren’t going to be able to keep their promises. Even Social Security, according to its own annual report, will run out of money in 15 years.

And even when you responsibly set aside your own money for retirement, lawmakers will suddenly change the rules and impose a major tax increase on the middle class.

Just imagine the things they’ll do if the Bolsheviks come to power next year…

If you’re a premium member, we’ll send you a report after the SECURE legislation passes to let you know how to reduce its impact.

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British schoolteachers want price controls for vacation packages

Here’s our weekly roll-up of the most absurd and concerning articles we came across this week from both sides of the Atlantic.

8th grader gets 3-week suspension for picture of airsoft gun

Airsoft guns are toy guns which shoot little plastic BBs.

As long as kids are wearing safety glasses, these guns pose no actual threat of injury. And their painted red plastic tips make it obvious they are toy guns.

They are perfectly legal. So a 14-year-old boy thought nothing of goofing around with his friends, and posting a Snapchat picture which included airsoft guns.

But someone at his school saw the photo and reported it… and school administrators suspended him for the final three weeks of the school year.

The picture was not taken on school property, or during school hours. The school was not mentioned, and there was nothing in the Snaps that could have been construed as a threat.

But apparently someone at the school felt uncomfortable with the picture, and the school decided it had to respond with punishment.

So now perfectly normal behavior outside of school can get you in trouble with the meddling educators.

Click here for the full story.

British Officials consider price controls for vacation

Vacation prices are too high!

And as usual, British parents, politicians, and Teachers Unions think the problem is those greedy corporations.

So they have called on regulators to force vacation providers to lower their prices during school breaks.

They say it is unfair that vacation prices are higher during the summer while everyone is out of school. One sympathetic politician said, “It’s not right that children’s education is being used to exploit hard-working parents in this way.”

Of course, as a spokesman for the travel industry points out, this is simple supply and demand… a lot more people want to take their families on vacation while the kids are out of school.

They suggested staggering school breaks so that demand doesn’t spike so much at one time.

And it doesn’t help that parents can be fined up to £120 if their kids miss class for a vacation while school is in session.

Last year the Department of Education collected £10 million of fines for unexcused absences.

Who are the greedy ones?

Click here for the full story.

FBI and ICE are using state license-photo databases for facial recognition

Every month the FBI conducts about 4,000 facial recognition searches.

In America, your data is supposed to be private, only accessible to law enforcement if they have probable cause to think you have committed a crime.

So you might be surprised to find out that the databases used in these facial recognition checks are full of innocent Americans.

The FBI and Immigration & Customs Enforcement (ICE) have been accessing state Department of Motor Vehicle databases for years, to check a suspect’s photo against countless innocent citizens license photos.

The license holders didn’t consent. The state legislators, governors, and Congress didn’t give them permission.

Usually, all they need is a friendly email to a DMV bureaucrat, and they have access to treasure troves of biometric data.

Including the DMV and other state, local, and federal databases, the FBI has access to over 641 million face photos which they can scan using facial recognition technology.

Click here for the full story.

Amazon is liable for third party items sold on the website

Amazon sells some products directly, but it also provides a platform for other retailers to sell items.

Now an appeals court has ruled that Amazon can be held liable for the millions upon millions of products sold by third parties on its website.

They ruled that Amazon failed to properly warn customers about the dangers of defective products.

In some cases, the actual retailers could not be contacted or identified. And that left no one but Amazon to hold liable for the defective products.

When in doubt, blame the big corporation… even when they have nothing to do with it.

Click here for the full story.

UK Lawmakers scrutinize Amazon investment in food delivery company

The fun never stops for Amazon.

Obviously a huge part of their business is delivery, and Amazon has a history of investing in delivery companies.

But when Amazon bought a minority stake in British food delivery company Deliveroo, regulators pounced.

The government told Amazon to cease any plans to merge operations with the company until they have a chance to scrutinize the transaction.

Even though Amazon does not own a controlling share of the company, the regulators said it is reasonable to believe the two companies will cease to be separate entities.

And apparently that is all the excuse regulators need to intervene in a mutually beneficial and consensual transaction…

Click here for the full story.

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This may be your last chance to take advantage of Puerto Rico’s best tax benefits

Imagine a place where you could spend all day sitting on a beautiful beach, sipping piña coladas, mingle with some of the most fascinating people you’ll ever meet, and not pay any taxes…

It’s the classic dream of the offshore tax paradise. Unfortunately, that dream is largely dead due to Uncle Sam’s aggressive policies of cracking down on foreign tax havens.

But there’s still one place left in the world where this dream is a reality. And surprisingly enough, it’s in the US– yes, the best tax haven in the world is in the United States of America.

I’m of course talking about Puerto Rico. I recently moved there myself… the benefits are just too great to pass up on.

Every day I wake up there, I have to pinch myself to be reminded I’m not dreaming.

I rent a beautiful house with a gorgeous view on the water. I’ve built tremendous contacts on the island with influential people in business and government.

I am overwhelmed by the amount of opportunity there… and I pay almost no taxes.

The first time I heard of the opportunity through my good friend Peter Schiff, I thought it was too good to be true.

But after the initial skepticism, I went there myself to check it out and spend some time.

I was blown away, and ended up moving there permanently myself last year.

Honestly, the combination of lifestyle, tax benefits, opportunity and proximity to the US is as good as it gets.

Nowhere in the world have I seen such an incredible line-up of advantages.

To revive the island after twenty years of economic depression, the government passed a series of laws in 2012, hoping to attract wealthy investors and entrepreneurs to the island.

Two of those pieces of legislation, in particular, are incredibly attractive.

The first is Act 20, which allows entrepreneurs on the island to start a local company servicing foreign clients and pay just 4% in corporate tax.

The other is Act 22, which allows investors to pay 0% tax on dividends and capital gains in Puerto Rico.

And for maximum tax benefit, both regulations can be combined– allowing you to pay only 4% corporate tax and then ZERO percent on the dividends your company pays out to you.

For those looking to start financial services companies, Puerto Rico also has Act 273, which aims to turn Puerto Rico in a global financial hub (that’s also why I started my bank there).

And the best part is that Puerto Rico is part of the US– just hours away from the US mainland by plane. American citizens don’t even need a passport to move here. For them, it’s just like moving from Kansas to Florida.

So it might come as no surprise to some of you that I’ve been hammering on the Puerto Rico opportunity in Notes From the Field for the past year.

That’s because whenever governments put out incredibly generous gifts like this one, it never lasts forever.

Ultimately, demand meets supply and the laws change accordingly.

(That’s what’s happened with places like Singapore and Hong Kong by the way. It used to be a breeze to move there and start a company– but today, because these places no longer NEED people, it’s a lot more difficult.)

That’s why I’ve written at great lengths about taking advantage of this opportunity NOW while it still lasts.

It seems the message was prescient…

A few weeks ago, the government of Puerto Rico released new legislation that makes it more costly and complicated to make the move to the island and enjoy the tremendous benefits.

Under the earlier rules, there were very few costs associated with moving to the island, and you didn’t need to own property to qualify for Act 22. But with the new legislation, that’s now changed…( more on that below)

Luckily, it’s still possible and relatively inexpensive to obtain residency in Puerto Rico.

But everyone knows this will not last forever. Ten years ago, these incentives didn’t exist. And the government’s recent moves indicate that it likely won’t exist ten years from now – and probably not even in a few years.

However, by acting NOW you can still be grandfathered in under the old rules– as long as you take action before December 31, 2019.

That way you will enjoy all the tremendous benefits for decades to come.

(If you are already a member of Sovereign Man: Confidential, our flagship international diversification service, stay tuned for our comprehensive Black Paper on Puerto Rico’s tax incentives, including the critical new updates you need to know about.)

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Here’s how to get a second passport (almost) for free

I remember the day like it was yesterday.

Fifteen years ago, I received my Italian passport in the mail, shipped to me directly by the Italian consulate in New York.

A few years prior, I found out I was eligible for an Italian passport through ancestry.

My grandparents are of Italian descent…so Italy deemed me eligible to become a citizen as well.

On top of that, I was able to get my passport almost for free (I only had to pay a small application fee).

That day was the first time I had really ever felt a real sense of freedom.

For the first time, I was no longer beholden to just one nation. No government authority would have exclusive rights over my sovereignty.

I now had more options… and more freedom.

Back then, I wasn’t fully aware of the possibilities and opportunities multiple passports (and residencies) would open up for me.

In fact, I was just beginning my journey to internationalize my life.

But now, looking back, getting that second passport radically changed my life forever- and for the better.

Today, I cannot stress enough the benefits of having a second passport— and I believe it’s a fundamental cornerstone of a solid Plan B.

That’s because a second passport is the ultimate insurance policy. And getting a second passport has only gotten more important since I first started Sovereign Man, ten years ago.

Most of us don’t second guess buying house insurance, car insurance, even rental insurance…

But most of us don’t think for a second of insuring ourselves against the idiocies of the country in which we were born.

Yet history has shown us time and time again that governments will never hesitate to put the wellbeing of their citizens LAST, after satisfying the interests of the status quo.

That’s why it’s so important to have a way out– a means to get out of dodge should your home country take away your freedoms.

Having a second passport ensures that no matter what happens in the world – and no matter what policies your home government decides to force upon you – you’ll always have a place to go.

A place where you and your family can thrive, build a business and take advantage of opportunities.

If you have children, a second passport can be passed onto them- imparting them with a unique generational gift that will pay dividends many years into the future.

And there are a couple of ways you can obtain a second passport.

Two of these require that an investment of personal resources – time and money – and the second two require that you be either flexible or part of a lucky bloodline.

For example, many Western countries will grant you citizenship after residing in the country for a given number of years. In Chile, it’s five, but in places like Argentina or Peru – it’s only two.

Other countries will give you a passport in exchange for a donation to their “investment fund.” These are usually found in the Carribean or other island nations.

Some countries will grant you citizenship just for being born there. The United States is undoubtedly the most famous of those, but others like Brazil or Argentina can be just as appealing.

And lastly, a handful of countries – mostly European, will consider you for citizenship if you can prove that some of your ancestors hailed from the country.

That’s how I got my first second passport. Like I said, my grandparents were Italian, and therefore I was eligible for Italian citizenship.

That means that not only do I have the right to live, work and do business in Italy but because of Europe’s Schengen Area, I can do all of the above in 26 countries in Europe without a visa… for the rest of my life.

That’s an incredible flexibility and a huge gift: having a second passport can really open doors to a whole new world.

There are a dozen or so of these options in Europe – notably in Hungary, Luxembourg, Ireland, and Italy.

But some countries like Spain will also grant citizenship to people of certain ethnic descent.

Generally, the process is relatively straightforward and hassle-free.

It’s something I recommend to absolutely everyone. If there’s a chance you might have European ancestors, it should be at the top of your list of priorities.

Just like other types of insurance- the time to obtain one is BEFORE you might need it.

To guide you through some of the options, my team put together a preview of one of our premium reports that’s usually only available to members of Sovereign Man: Confidential.

Inside this preview you’ll learn how to get an Italian second passport at almost no cost.

Usually, this process can take years (like it did for me), but inside we cover a unique shortcut that can cut the time to just a few months.

It’s a great example of the kind of information we strive to provide to members of Sovereign Man: Confidential: unique, little-known opportunities that have the potential to radically expand your options in the world – and ensure you thrive, no matter what happens next.

I hope you take action on this. If you do, I am almost certain your life will never be the same again.

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Why Singapore is an outstanding “Plan B” option

Every time I come to Singapore I can’t help but marvel at its spectacular rise.

I have a number of local friends who have been living here since independence in the 1960s, and they tell me the most incredible stories about how impoverished and underdeveloped Singapore was back then.

Things were so backward back then that people would literally throw their own human waste out in the middle of the street. There was scarcely any clean water, literacy, savings, or technology.

Yet within a few decades Singapore had become one of the wealthiest places in the world.  Not because they’re sitting on enormous oil reserves or have world-leading gold exports.

As a matter of fact, Singapore has virtually zero natural resources.

They did it all by establishing a free market system where everyone who worked hard, saved money, and took risks could prosper.

Singapore has one of the lowest tax rates in the world– with a corporate tax rate as low as 0% for new businesses, up to 17% for mature enterprises.

Their personal tax rates are quite low as well, and they don’t tax most types of investment income like dividends or capital gains.

Yet despite having such low tax rates, Singapore’s government has zero net debt and routinely runs substantial budget surpluses. And it’s not because they’re skimping out on services to the taxpayers, either.

Singapore’s armed forces, for example, are among the strongest, most advanced in Asia, with state-of-the-art weaponry and technology.

They have excellent public services, from education to courts to medical care to world class infrastructure.

It’s absolutely flummoxing to Bolshevik-minded people: they find it inconceivable that a low-tax country devoid of any natural resources could be so prosperous, debt-free, and simultaneously deliver top quality public services.

This is also why I’ve long suggested that Singapore is an excellent place to consider when forming your own “Plan B”.

And if this isn’t something you’ve thought about yet, I encourage you to start.

Sometimes I look back with utter incredulity at how far to the left the world has shifted over the past 10 years since I started Sovereign Man.

Politicians who would have been chased away as dangerous communists as recently as the early 2000s are today powerful figures who command loyal followers numbering tens of millions of people.

And the more they hate on wealth and prosperity, the more popular they become.

That’s the problem. Neither you nor I is going to be able to convince tens of millions of our fellow citizens that their Socialist fantasy is a disease of the brain.

These ideas of wealth taxes; rabidly high income taxes; free, socialized everything; universal basic income; etc. are now mainstream and gathering momentum.

This isn’t some pessimistic, gloomy prediction. It’s just a statement of fact. And it makes sense to be prepared for whatever might happen next.

Here are a few simple ideas to consider–

If the Socialist fever continues rising, it probably doesn’t make sense to keep 100% of your assets within in your home country.

It might not make sense to keep 100% of your investments in a stock market that is presently at its all-time high (and would certainly suffer severe turmoil if the Bolsheviks take over).

It probably makes sense to consider some portable and anonymous wealth like cash and gold spread around stronger jurisdictions that still respect privacy.

It probably makes sense to think about tax strategies that would protect you and your business against extreme changes in legislation.

These are all completely rational steps to consider. In fact you’d have to be pretty insane to look at the direction the world is headed and think, “What could possibly go wrong??”

And that’s where Singapore comes in.

The world is a big place, and there are a lot of options out there. But Singapore does tick a lot of boxes.

As a location to store some wealth overseas, for example, you could hardly choose a better place.

Singapore is safe, stable, impressively reliable, and free of corruption. And for a trivial amount of money, you could rent a safety deposit box here and fill it with assets like gold and physical cash.

This is completely legal to do, and non-reportable on your taxes (unless you sell the gold for a profit).

It’s a highly cost effective insurance policy for a potential rainy day down the road… which is what a great Plan B is all about.

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US government mulls banning encryption

Here’s our Friday roll up of the most absurd and concerning articles we came across this week.

US Government officials consider banning end to end encryption

Leaders from US government agencies are rumored to be pursuing a ban on end-to-end encryption.

Tech companies like Apple and Google often build encryption into their technology to prevent data from being hacked and stolen.

Apps like Whatsapp and Signal also encrypt communications so that even if they are intercepted, they can not be read by anyone but the intended recipient.

Three different sources familiar with the meetings reported on the discussion.

The Department of Justice, FBI, Secret Service, and ICE want Congress to ban encryption to make their jobs easier. They say a backdoor should be built into any encrypted technology so that they can access any communications they want in the course of their investigations.

The State Department and Commerce Departments are against asking Congress to ban encryption, mainly for diplomatic and proprietary reasons.

(Surprisingly, DHS leadership has mixed opinions.)

This would put everyone’s data at risk. But it also gives the government power we know they cannot be trusted with.

Even if we forget about privacy concerns, the government has admitted to far too many massive security breaches to trust them with this level of data..

Click here for the full story.

Soylent green is… geese?

Here is a partnership between the federal and local government that we can get behind.

In Denver, the growing population of geese has become a problem. Parks and lakes are filling up with goose poop.

That risks spreading disease, and makes it impossible to lay out on the grassy fields– not to mention the occasional aggressive goose.

So the City of Denver has teamed up with the USDA to kill two birds with one stone.

They are culling flocks of geese, and sending the bird carcasses to nearby poultry processing centers.

The goose meat is then donated to needy Denver families for a hearty, natural meal.

Let this rare example of government efficiency inspire bureaucrats everywhere.

Click here for the full story.

Banana Festival can’t afford anti-terrorism requirements

Since 1956, a small town in Australia has held an annual banana festival.

The main event is always the mascot, Banana Jim, leading a parade of floats through the town to the festival.

Unfortunately, Banana Jim doesn’t come with his own security force. So this year, the parade will be cancelled.

See, Australia has mandated security measures for public events which include anti-terrorism “hostile vehicle” security like concrete blocks to protect crowds and increased police presence.

But this small town cannot afford the estimated $10,000 extra it would cost to implement the extra security.

The festival coordinator said she doubts that Banana Jim is a high profile ISIS target…

Statistically speaking, in fact, it is probably far more likely that a festival-goer would be killed by slipping on a banana peel than become the victim of a terrorist attack.

Click here for the full story.

Italian social services convinced kids they were abused, then sold them

It is hard to fathom that there are people this patently evil in the world.

Eighteen officials have been arrested in Italy over a social services scheme that took children from innocent parents, and sold them to foster parents.

Doctors, social workers, and even a mayor are among the conspirators.

Through intensive psychological manipulation– including electroshocks– psychologists convinced children from low income homes that they had been sexually abused by their parents.

Then they placed the children in foster homes in exchange for money.

It’s not entirely clear the motivation the foster parents had to pay for the children. Some may have wanted government kickbacks for fostering children. But at least two of the children were sexually abused in their new foster homes.

It’s horrible that this type of abuse of power happens, and a good reminder of why the government needs to be kept on the shortest possible leash.

Click here for the full story.

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Three solid ideas to help you get started

In October of 2008, a plumber from Ohio named Joseph Wurzelbacher made national headlines when he confronted US Presidential Candidate (then Senator) Barack Obama at a campaign rally:

“Your tax plan’s going to tax me more,” Joe told Senator Obama.

The confrontation sparked a sensation, and Joe became known nationwide as “Joe the Plumber”.

He was right– his new business would be subject to a tax increase under Obama’s plan to raise income taxes from 36% to 39% on anyone earning over $250,000.

Senator Obama’s response was, “I think when you spread the wealth around, it’s good for everybody.”

Immediately the opposition seized on the quote: that Obama wanted to raise the top tax rate to 39% was proof enough that he was a Socialist.

How times have changed.

Today most candidates have endorsed income tax rates of at least 70%, and some say it should be as high as 90%.

Earlier this month one Presidential candidate, John Hickenlooper, was booed at a campaign rally for saying, “Socialism is not the answer.”

Bernie Sanders, one of the front-runners in the presidential race, openly brags about being a socialist. Elizabeth Warren wants to tax not only your income, but also your assets, through a time-tested completely ineffective wealth tax.

New York Mayor Bill de Blasio said earlier this year that there is plenty of wealth in the country… it’s just in the wrong hands.

In this crowded pack of Bolsheviks, Barack Obama would be considered too moderate and out of touch.

And yet these new Bolsheviks have a very real shot at becoming President of the United States.

The number of socialists is growing in Congress too, led by Rep. AOC. She hates success so much that she deliberately supported a lose / lose deal to chase the new Amazon headquarters out of New York City.

The public doesn’t even see these people as radicals anymore. A recent Gallup poll showed that 43% of Americans now prefer socialism to capitalism.

I said it on Monday— the Bolsheviks aren’t coming. They’ve already arrived.

Here at Sovereign Man we’re commemorating our recent 10 year anniversary by looking back over the past decade and examining how much things have changed.

And this Rise of the Bolsheviks is a MAJOR change.

It’s incredible that countries around the world that have tried some form of Socialism– China, Russia, Vietnam, etc. are running away from it. They understand that it doesn’t lead to prosperity.

Yet North America and Europe continue to embrace it. It seems everyone is doing that old dance– ‘to the left, to the left, to the left. . .’

That’s why it’s more important now than ever to have a solid Plan B.

That means taking sensible steps to ensure that you and your family are in a position of strength no matter what happens next. Or who gets elected.

I wouldn’t be surprised, for example, if the election of a Bolshevik ends up being the straw that breaks the historically long economic expansion and stock market bull run.

You can also imagine that if they cause a severe recession, they’ll only be emboldened to blame capitalism and double down on their confiscatory policies and insane levels of spending.

Bear in mind the government already has a net worth of NEGATIVE $75 TRILLION. Yet they want to spend trillions more (after jacking up your taxes) on guaranteed government jobs and fantasy programs.

These are facts. This isn’t about doom and gloom. Far from it. Smart, thinking people are going to be just fine.

But it’s foolish to witness such an obvious trajectory and pretend like there’s nothing happening.

As part of our 10 year anniversary at Sovereign Man, I’ve asked my team to prepare a lot of free content to help you get started building a Plan B.

We’re starting today with a few samples below, but expect more links next week to help you prepare for what lies ahead:

1) Opportunity Zones allow you to sell your existing assets at all-time highs, and defer paying taxes on those gains for until 2026. And any additional gains you make on that money can be tax free FOREVER.

Click here to download a redacted preview of our in-depth Opportunity Zones report.

2) Puerto Rico’s Acts 20 and 22 provide a completely legal way to pay just 4% corporate taxes, and 0% tax on certain types of investment income, by moving to Puerto Rico. These incentives are available to ANY nationality, and it works especially well for US citizens.

To learn more about this opportunity click here to download our case study about an entrepreneurial Californian couple that moved to Puerto Rico and slashed their taxes to just 4%.

3) Having a second passport, which many people qualify for through ancestry, is one of the most unique insurance policies you could ever have; it provides more options and more freedom. And you might be qualified for one without even knowing it.

Here’s a preview of our report on how you could get a valuable Italian passport and here’s one on how you can get a German passport.

These are a few ideas that will get you started. We’ll share more soon.

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