Money and identity freedom, who holds your future in their hands?
Have you ever pondered: who is really manipulating the quality of your life and the security of your property? Or have you ever questioned whether the apparent freedom of money really brings you the freedom of identity? In a world full of uncertainty and hidden rules, have you missed out on countless valuable investment opportunities because of the limitations of your identity or nationality? When the international political climate changes, resulting in your money not being able to circulate freely, how will you cope with this sudden crisis? Bogusly, this article will reveal the close relationship between the flow of funds and freedom of identity, and analyze how freedom of identity has been subject to various limitations from a historical perspective, and reveal with you the three levels of freedom of funds to help you make an informed decision on identity planning.
International financial sanctions: lessons from history and modern challenges
At the beginning of the Ming Dynasty, Zhu Yuanzhang took a shocking move: in order to cut off exchanges with Mongolia, he suspended the circulation of silver coins nationwide, an act that instantly cut the economic power of the Mongolian border region. Similarly, by 2020, the United States placed the Cuban International Bank of Havana on the sanctions list, freezing the funds of the bank and its 400 correspondent banks, and then brazenly disposing of frozen Cuban funds through the Cuban Assets Control Regulations. The international financial sanctions imposed on Russia during the Russo-Ukrainian war have resulted in the inability of Russian citizens' funds abroad to be traded freely around the globe.
Standing in front of these historical events, can you detect a close and subtle connection between freedom of funds and freedom of identity? Freedom of capital is both the core objective of freedom of identity and the key guarantee of freedom of identity. In today's society, the reason why most tycoons seek a second identity is, first and foremost, to ensure the free flow of capital in order to protect their enormous wealth; only on this premise do they consider other factors, such as their children's education and social welfare.
Freedom of identity: an unequal game
Indeed, one cannot be prepared to predict future changes, but one can glimpse some clues from the lessons and processes of history to gain a deeper understanding of global financial developments and international rules. However, these international rules are often influenced by politically powerful countries that impose strict regulations on the financial behavior of their citizens, such as foreign exchange controls, capital account controls, and financial market controls. In this broader context, all of these policies have the potential to be the invisible hand that restricts the flow of your money, which in turn affects your investment choices and the security of your wealth.
Next, this article will detail the three levels of financial freedom - theAcquisition,Preservation,Capitalization--and explores how to gain true identity freedom in response to the changing global environment.
1. Acquisition: the basis for financial freedom
Making money is the beginning of everything and the first step towards financial freedom, and there are many different opinions on how to make money. But from a historical and global perspective, nationality and residence have the potential to profoundly affect an individual's ability to make money. Elon Musk, the founder of Tesla, for example, holds dual citizenship in the United States and Canada, as well as a South African birth background. Such a diverse identity provides him with unparalleled advantages in conducting business and raising capital to further expand his reach in the global marketplace.
Is earning enough? Diversified money protection
Living and having citizenship in a country with a high degree of economic freedom undoubtedly provides a broader platform for earning money. However, when wealth reaches a certain size, the question of how to make these funds circulate more freely becomes a new issue to ponder. This is not only about wealth management at the individual level, but also about how to plan and secure the flow of money in a broader historical and global context.
2. Preservation: a guarantee of financial freedom.
The second level in the quest for financial freedom is "being able to bank". This is not just a process of banking funds, but a complex system influenced by many factors, including history and geography. AsCRS (Common Reporting Standard)With the introduction of emerging regulations such as AEOI (Automatic Exchange of Information) and the popularity of anti-money laundering investigations in international banking, opening an overseas bank account is not as difficult as it used to be. The historical context of this shift makes identity planning and prep work particularly important. Completing the KYC (Know Your Customer) process and providing detailed and accurate personal information is an essential part of today's environment.
Funds flows and long-term storage in historical perspective: deposit continuity meets global perspective
3. Capitalization: the ultimate goal of financial freedom
If you have achieved secure storage and relatively free mobility of funds, then you have reached the highest level of financial freedom. "Accessible" in this context means that you can easily withdraw your funds from the bank and freely remit them elsewhere or invest them in different areas. It also means that you are able to use your money globally and in multiple ways over the course of your life.
Prepare in time, before it's too late
Lessons from history: Identity planning, timely preparation, and prevention of problems before they occur
These are the three levels of financial freedom, which should be viewed in an integrated manner and planned in advance. In today's context of crises and projects, if you make overseas investments and transfer funds out of the country without a sound identity planning strategy, you are likely to lose control and instead find it difficult to protect your original assets. Understanding these basic concepts can help you make the best identity planning decisions.
Financial freedom is a process that requires the formulation of strategies to work in the right direction at the source of identity planning. Choosing the right direction and customizing a specific plan will lead to true identity freedom.
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