Just imagine that there is a world without privacy. Every financial transaction is saved in several databases. You have no idea who knows what. Does this sounds as a nice world to you? Not to me, that’s certain!
But this is the world we are moving to. It is the cashless society. How many locations do you see that there is no longer cash accepted? Digital transactions are stored everywhere.
It is George Orwell worst nightmare and at the same time it is every government bureaucrat most beloved scenario.
With the press of 1 button you can access all financial data. That neighbour that you don’t like? The government official nearby will have access to all information.
So what to do against it? What to do if you wish to protect your privacy? Here you find a top 3.
- Don’t threw away your cash
Cash money is the best guaranteed to lose money. But when things go wrong it is a handy method to pay for things. When we are facing a blackout it might be helpful to have some money. Just so you can pay for your food and emergency expenses.
Especially all the highly used dominations of paper money are out of value.
Cryptocurrencies like Bitcoin are not widely accepted. Therefore they are not handy for an emergency scenario. Next to this is the blockchain completely public available. Not that handy for your privacy.
Every payment you do with your debit card and credit card are being processed by the financial institution behind it. They are regulated by the government and are always very cooperative to share information in advantage with government officials.
With the ongoing war on cash we see even more push to abolish large dominations of currencies. Police officers are openly discussing abolishing bills with a value of 100 USD. IIt is already risky from a legal perspective to carry large amounts of cash. Not to mention to have the money at home. When the government will raid your house they simply assume the money came from illegal activity. Unless you can prove the money came from legal sources you lost your money. Buying a nice house or car will not be possible in cash. But for day to day expenses can you easily do with cash money.
As I mentioned earlier the paper money is almost a guarantee to lose money. How much money you will losse? For that you just need to look at the inflation figure.
- Invest in real assets
The world currencies (USD, EUR, GBP, RMB) are not on the brink of a complete collapse. Not yet. But even a annual but small loose in wealth is destructive. Just look at which type of investments you need to acquire to stay ahead of inflation. In good years you can do this with dividend stocks. But when they go down you loose on inflation.
Rental property is another method to stay ahead and, as you can read in The Millionaire Report, I highly support it. But this business is more and more regulated. Next to this are you subject to a factory, or other large forms of employment, closures?
How will you do this privately?
Those who have structured their money internationally are at the risk of ongoing government intimidation. Next, to the government intimidation, you can expect harassment from government bureaucrats.
I strongly advise against number accounts on its own. They can provide some form of protection and assurance. But it is very likely that all western countries are soon going to adopt regulation like FATCA.
It is said to say, but government bureaucrats are against is to avoid taxation the legal way. Even after they come to the realization that you are playing and living by the law. After all: you only have to pay the minimum in tax, not the maximum.
- Don’t talk finances on social media
Social media companies are more and more pushing their own political agenda. where it was said that the internet was for the free, it is now more and more the platform for some opinions. But they are collecting your data. When you publish about your finances, investments, or the pictures of your precious metals and diamonds which might work as an investment, then this is stored. It is only 1 warrant away for the government to get the information. If they are not having a secret backdoor.
What makes social media even more dangerous is the fact that they are working on the creation of there own their own cryptocurrencies. Currencies that you can get paid for in goods that you sell via there platform. Or buy with it. Amazin. Facebook has admitted working on development. It is very likely that Google is doing so as well.
More and more it is clear for everyone that we are living in very dangerous times.
So I have 1 strong advice for you: take your financial privacy serious and be ready. Please prepare for the unexpected.