the dollar vigilante blog
Capital Controls Ratcheting Up Worldwide
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[Editor's Note: The following post is by TDV Editor-in-Chief, Jeff Berwick]
We have been inundanted all week with interest in our "Crisis Conference" in Panama next month. The amount of interest has surprised even myself but the really surprising parts are all the stories we are hearing from those who want to attend.
Countless people have been telling us of how they are unable to transfer their capital out of their own countries and they have been contacting us to see if we can help and if the information we will be divulging at the conference can help them internationalize their assets. The short answer, in almost every case, has been yes.
But the stories have been unbelievable... yet believable at the same time because I have personally seen it happen countless times and hear of horror stories worldwide about how difficult it is to transfer funds outside of your country.
One of the most interesting came from Ibai Basabe, a Spanish born person who is currently in the US studying but trying to help himself and his family get their assets out of Spain. We asked if we could reprint his story and he said yes... here is his story:
Dear Jeff and TDV,
Spanish banks have increased the amount of “security” in the last few years. They call it “security” against theft when it really is more and more control over the people and their currency units. A few years ago they started requiring cards with pass-codes, and those cards could only be mailed within the country. Funds are now being held by these institutions probably with a stronger grip than in last decades of the Franco era.
In the last months I made a couple of transactions to an Estonian bank account own by Transferwise. They then put the corresponding USD amount in my US account for a very small charge. The second time I did that I was asked to speak to a bank representative from Banco Popular which then required me to use an instant pass-code which would be sent to my cellphone number. So I complained and then complied and gave him a phone number to send the passcode to.
This week I tried to transfer more funds and I was stopped completely. The bank representative said that an internal department in his bank (a secret department, he deliberately would not reveal its name) has asked him to obtain documentation on exactly where the money was going and how it was used. I called him and told him that I was going to buy a house. But he told me that since I didn’t have the documentation at the moment I still wouldn’t be able to transfer any more funds. Then I went wild I told him that at the moment I was buying bitcoin with it. He first said that that would not be a valid justification. And then went on requiring me to send paper proof which would then be submitted to the secret department for revision. I was not about to go through with that.
On the other hand, it was interesting to see how much he knew about bitcoin. We talked a little bit about the block chain and then I explained to him some possibilities for hard storage of bitcoins which he didn’t know about.
Since I wasn’t going to go through that bullshit I thought I would move my currency units with help of the extortion of a different bank. So I looked at the BBVA website to find out that now they don’t even allow to send funds outside of the country through their website. Of course, they would not allow me to do that on the phone either.
Tomorrow I’ll try liberbank and with the actual help of someone else at the premises I might be able to complete my transaction and get some more bitcoins.
My father, my grandfather, my great-grandfather and my great-greatgrandfather were all anarchists and entrepreneurs and all of them were destroyed by the totalitarianism of people’s minds and literally by the Jesuits behind it. They were either killed, incarcerated or marginalized. I am sure I am in a list somewhere but I am not about to have that happened to me too.
Thank you Jeff for your work. I follow your Anarchast and The Dollar Vigilante (TDV) very closely and you inspire me to keep up the work towards a freer self and towards encouraging others to free themselves too. I would love to chat with you soon. I’m not sure if I’ll be able to make it to the Crisis Conference in Panama since I am very busy with my dissertation (slavery - only for a couple more months though) and I haven’t heard from the US embassy in Panama: I would need a visa to come back into the shitty US.
I know you hate it here, who wouldn’t? But if you can come to the North American Bitcoin Conference in Miami next weekend we can talk over a drink or two.
Osasuna ta askatasuna!
The amazing people at TDV Wealth Management have been speaking with Ibai today and they have some very good ideas on how he can get his funds out of Spain and protect those assets from any further controls. And, as well, we referred Ibai to Xevi Mato, the Chief Editor of TDV Spain for more contacts inside the country.
And, as a side-note, I will be in Las Vegas for the Passport to Freedom conference from January 23-25th and wasn't aware of the bitcoin conference in Miami until Ibai mentioned it. And, as luck would have it, I had plans to leave Las Vegas on January 25th for Miami to speak with our agents for Venezuelan passports on behalf of TDV Passports and so I will likely see you at the conference on the 26th, Ibai.
All that aside, it is not terribly surprising to hear that Spain has been cracking down on the ease of taking funds outside of the country. Xevi Mato has been covering the situation in Spain, in Espanol, at TDV Spain for a number of months and he tells us that things are quickly getting worse there. He says it has become a police state nearly as bad as the US, there are currently fairly major riots going on in Burgos, a large city, and that Spain is quickly falling. Secessionist movements have moved forward in Catalonia amidst a current 57.7% youth unemployment rate.
TDV Wealth Management's top personnel worked on ways to help Europeans get funds outside of Europe throughout most of the day and much to my surprise they said they have numerous avenues within which to do that. So, for the upcoming "Crisis Conference", which we had limited to Americans and Canadians previously, we are now accepting Europeans as our team says they can also help them with their internationalization needs.
MEANWHILE BACK IN THE USSA
Amongst the countless stories we've heard this week was an American who recounted how he has a large amount of money at Chase bank in the US and he has been shut down at every turn trying to transfer the money outside of the US. Just like with Ibai, above, they have demanded more and more documentation just for the privilege of moving his money as he'd like.
Further, they informed him that he can only transfer a maximum amount of $50,000 per month outside of the country. We had previously reported on this in October when we wrote, "Capital Controls Officially Begin for US Business with JP Morgan" and included the following screenshot of a customer account.
JP Morgan Chase appears to continue to make it more and more difficult to transfer money outside of the country... you can easily see where this is all going.
And, as we've written about numerous times in recent weeks, with the coming Foreign Account Tax Compliance Act (FATCA) coming into effect in July, 2014, you'd have to be blind to see that time is running out to get some of your funds outside of your home country to protect yourself from The End Of The Monetary System As We Know It (TEOTMSAWKI) which is now well into its final stages.
NEW ADDITION TO THE CRISIS CONFERENCE
We've heard a lot from potential attendees asking if we will have any information at our conference on bitcoin as a way to more easily transfer funds worldwide without governments or monopolistic, fascistic banks getting in the way. I was happily surprised to hear how many people considered this an important topic - as do I - so we have now added an extra section at the Crisis Conference and many of the staff at Coinapult.com will be there to do a presentation on bitcoin and to answer any questions you may have.
Coinapult is one of the largest bitcoin companies and I have known the principals of Coinapult for a while and I actually advised them last year to move their operations from the fascist US to Panama and they did... realizing that an operating bitcoin company in the US is fraught with risks. So, they are now based out of Panama City, Panama and will be at the Crisis Conference to educate and answer any questions on bitcoin.
FINAL SPOTS AVAILABLE
The Crisis Conference is now down to its few available spots available and I expect them to be filled in the coming week. We want to keep the conference very intimate, personal and exclusive as the topics we will be discussing and helping people move forward on require a lot of one-on-one consultations and conversations (each morning is blocked off just for private consultations... and of course, each evening all the internationalization experts at TDV Wealth Management will be available over drinks or dinner for further discussion).
I expect to hear even more stories from people around the world at the conference with their own tales of the difficulty of internationalizing their assets and even getting money out of their own country. In this sense it will be a learning experience for us all as I learned from Ibai today just how difficult it is to get your assets outside of the western financial system in Spain and we will trade anecdotes and ideas on how to get around the constantly erecting barriers being set-up to quell the tide of people who have realized that the system will collapse and to try to keep them penned in so they and their assets can go down with the system.
This will be the most dangerous time in human history for capital and once more people realize it there will be a stampede for the exits. By then, it will be too late. Either the barriers will already be fully erected or there will be so much demand that the cost of internationalizing will skyrocket or there won't be enough solution providers to go around.
I advise you to act now. It is better a year or two early than a day late in situations like this. Call +1-646-568-5518 Ext. 516 for a free consultation to see if/how we can help you. Or email email@example.com or go to the TDV Wealth Management Crisis Conference website for more information.
Anarcho-Capitalist. Libertarian. Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences including his own, Anarchapulco, as well as regularly in the media including CNBC, CNN and Fox Business.
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