{"id":16673,"date":"2021-07-28T09:32:08","date_gmt":"2021-07-28T13:32:08","guid":{"rendered":"http:\/\/privacyfight.io\/?p=16673"},"modified":"2023-06-25T07:12:54","modified_gmt":"2023-06-25T11:12:54","slug":"u33-privacy-is-a-property-right-and-receivership-is-a-business","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u33-privacy-is-a-property-right-and-receivership-is-a-business\/","title":{"rendered":"U33- Privacy is a Property Right and Receivership is a Business"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"16673\" class=\"elementor elementor-16673\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0060f03 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0060f03\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-57480ea\" data-id=\"57480ea\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f10a2b4 elementor-widget elementor-widget-text-editor\" data-id=\"f10a2b4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"vidseo_wrapper\" style=\"width: 100%;\">\r\n\r\n    \r\n    \r\n        <div class=\"vidseo_vimeo\">\r\n\r\n            <iframe title=\"vimeo-player\" src=\"https:\/\/player.vimeo.com\/video\/720218209\/?\" width=\"100%\" frameborder=\"0\" allowfullscreen><\/iframe>\r\n\r\n        <\/div>\r\n\r\n    \r\n    \r\n    <div class=\"vidseo_collapse\" style=\"\">\r\n        <div class=\"vidseo_btn\" style=\"\">\r\n            U33- Privacy is a Property Right and Receivership is a Business\r\n0:06\r\nEverybody, this is John Jay. Thanks for joining me.\r\n0:09\r\nToday is June 10th and We\u2019re going to be talking about a couple of general ideas here. I want to share some foundational information. And, I mean, this comes from conve&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U33- Privacy is a Property Right and Receivership is a Business<br \/>\n0:06<br \/>\nEverybody, this is John Jay. Thanks for joining me.<br \/>\n0:09<br \/>\nToday is June 10th and We\u2019re going to be talking about a couple of general ideas here. I want to share some foundational information. And, I mean, this comes from conversations I\u2019ve been having probably over the last two weeks, and some of you have asked me to talk about these things.<br \/>\n0:26<br \/>\nAnd it really, I think, gives you a little background as to why I make the strategies that I do, or make the decisions I do when you ask me for certain things, or you\u2019re dealing with a certain situation.<br \/>\n0:36<br \/>\nAnd we\u2019re talking about, you know, using money, or you have a claim that someone\u2019s making against you, or you want to do some planning, and we want to protect property rights. So I want to give you some foundational understanding.<br \/>\n0:49<br \/>\nI\u2019m gonna give you some references here. T X, I know you\u2019d like to, probably looks, looks, and things up. But I just want to mention, I do have some free content, of course, on privacy fight. That\u2019s the name of the channel, privacy fight is one word on YouTube, as you probably know. And we have the video membership on privacy, fight dot IO.<br \/>\n1:09<br \/>\nAnd the purpose of that is so that I can provide all the, the strategies and detail understandings of the things you\u2019ll need to use while you\u2019re using these strategies companies. Whatever we set up, I hope I don\u2019t miss anything, So my purpose is so that that information is always available.<br \/>\n1:27<br \/>\nI intend to be around, I intend to be available for as long as you guys want to discuss these things, but in any case, The things I want to cover, kind of in two parts but really I want to talk about privacy.<br \/>\n1:43<br \/>\nAnd it\u2019s not like what you think I\u2019m not going to go into some technical details about cryptography and things like that, but privacy in general and what your attitude should be.<br \/>\n1:53<br \/>\nYou should be.<br \/>\n1:55<br \/>\nYou should be outraged at how you\u2019re required to give up privacy when you\u2019re using your money. So in any case, let me just get started with that.<br \/>\n2:07<br \/>\nPrivacy, And this is what I\u2019ve discovered over many years, looking at case law, privacy is a property, right.<br \/>\n2:15<br \/>\nIt\u2019s it actually an intangible property, right, it\u2019s intangible.<br \/>\n2:20<br \/>\nAnd so, we kinda take it for granted that we would have, you know, locks on our doors. In fact, take it for granted that we even have doors, right, or wear clothing, or that we can seal are undergarments. Right, We don\u2019t tell people what kind of underwear were wearing, usually.<br \/>\n2:35<br \/>\nAnd we take it for granted that we have doors in our homes or locks on doors within our own homes. We just do things like that, we want privacy, we need, it\u2019s part of arts, just like, as part of part of our lifestyle. It\u2019s part of art. We actually need this. It\u2019s an emotional need, I think.<br \/>\n2:50<br \/>\nBut, why is it that?<br \/>\n2:53<br \/>\nWhen we\u2019re trying to use money, which is a very important tool, it\u2019s very important in society, it\u2019s very important for everyone\u2019s life, to have access and use money.<br \/>\n3:03<br \/>\nAnd then, we\u2019re in a situation where we may have to use third parties to access that money and move that money around. And we\u2019re heavily restricted.<br \/>\n3:11<br \/>\nI mean, my wife went the other day to send money somewhere, and they wanted, they wanted to know our home address, and we don\u2019t do things like that. So we literally had to find a different way around that.<br \/>\n3:20<br \/>\nSo why is it that? we want it?<br \/>\n3:24<br \/>\nWe we\u2019re willing to give complete strangers access to our financial information. I mean, when you go to the bank, think about your what you\u2019re disclosing.<br \/>\n3:31<br \/>\nand a lot of you think, well, that\u2019s, you know, probably those that are hearing this, don\u2019t think this way, but people think, oh, what\u2019s the big deal? You know, they want to stop money.<br \/>\n3:38<br \/>\nLaunderers will actually, the banks, are the biggest money, Launderers, and unless you\u2019re an actual suspect in a crime, or if convicted of a crime of financial crime, why would you be in a situation where you\u2019re going to have to give up all your financial information from the information, you give the bank.<br \/>\n3:54<br \/>\nYou\u2019re actually weakened to a point where people that you don\u2019t know can access your data and your information that you gave the bank even to your own doctor, to some extent.<br \/>\n4:04<br \/>\nBut the bank itself, who\u2019s: who is the bank giving your information to or who is the bank allowing?<br \/>\n4:13<br \/>\nAccess to your information under the guise that it\u2019s protecting others against money laundering and whatever that that implies that you\u2019re a suspect in money laundering.<br \/>\n4:24<br \/>\nAnd I\u2019m, I\u2019m saying this because I want you to see this for what they\u2019re really doing and in, it\u2019s not, uh, innocent, OK.<br \/>\n4:35<br \/>\nThey, they, OK.<br \/>\n4:38<br \/>\nRegulatory authorities, they don\u2019t want you to have tea.<br \/>\n4:42<br \/>\nThey don\u2019t want you to be able to use money the way you want to use it, and I\u2019m not saying you\u2019re involved in some kind of criminal activity, but just the same, if you were. We have police protocols, we have investigative methods, strategies, and tools that can be used to prevent crimes, investigate crimes. There\u2019s no reason to be act, to be treated like a suspect. And give up all this information, as, if you were already a suspect in a crime.<br \/>\n5:05<br \/>\nAnd I just, I want you to have the attitude that you should expect privacy, and that a bank Or third party, even Coinbase asking for all this information is outrageous.<br \/>\n5:17<br \/>\nNow, I understand, and I have Coinbase too. And I give up my privacy too because of a monopoly.<br \/>\n5:22<br \/>\nBut I\u2019m seeing that in the near future as much as cryptographic currency is designed to tax everything, OK. And where you have no privacy. In fact, cryptographic currency in the blockchain is gonna be used for some pretty sinister things.<br \/>\n5:36<br \/>\nThat was the intent.<br \/>\n5:38<br \/>\nIt was in fact, created by the banking system, OK? The whole, all the kryptos, that was created by the banking system.<br \/>\n5:44<br \/>\nUm, I think we\u2019re going to be able to use that technology, for, what we believe, it\u2019s four for privacy, Among other things, security, efficiency, Things like that. But, that\u2019s up to us. We have to take it. It\u2019s just like in the nineties, when I could not negotiate with the bank anymore, to open my account without a social security number. And I didn\u2019t want to using the Social security number.<br \/>\n6:08<br \/>\nI have my own, you know, uh, purpose there. And so, I had to come up with a way to give. The bank wouldn\u2019t want it, and still not use a social security number, which I did. I figured that one out, and it went from there.<br \/>\n6:21<br \/>\nSo, even on my driver\u2019s license, it\u2019s bad enough to have to have a license because there\u2019s a lot of information that goes into that, but the information is, what I\u2019m at, I\u2019m comfortable with, my home address is not on my driver\u2019s license.<br \/>\n6:33<br \/>\nIn fact, the mailbox addresses on my driver\u2019s license, and that is not permitted under the statute, but if the government is not going to guarantee my security and safety, if my license is, let\u2019s say, stolen with my wallet, for example, and someone can easily see where I live, then I\u2019m not going to give my home address. Unless the government can guarantee my safety, which, even if it would, I wouldn\u2019t trust that. So, I have a duty to protect my family and my own safety.<br \/>\n7:01<br \/>\nIt\u2019s on me to do that, and I\u2019m going to take that action, and I don\u2019t care if the law says I I can\u2019t do that.<br \/>\n7:08<br \/>\nIn that case, I\u2019m going to ignore the law.<br \/>\n7:11<br \/>\nSo, because it concerns my well-being and those who depend on me, so many case, I think we should have an attitude and expect that we should have financial privacy and that day is coming. I think we\u2019re already seeing it too by the way. And I know there\u2019s going to be lots of checkpoints with the Blockchain, the coins, and the wallets and all that There\u2019s gonna be lots of checkpoints.<br \/>\n7:32<br \/>\nWe\u2019re going to be fine!<br \/>\n7:35<br \/>\nRemember, identifying yourself as an owner of an asset doesn\u2019t create a tax liability.<br \/>\n7:40<br \/>\nThere\u2019s all kinds of, I mean, I think the strategies I\u2019ve introduced to most of you are are sufficient in whatever environment they\u2019re going to create.<br \/>\n7:48<br \/>\nI\u2019m not so concerned about that because, I mean, the same tools that I introduced to people.<br \/>\n7:53<br \/>\nThese are the things that are, I don\u2019t know, the whole system is based upon.<br \/>\n7:57<br \/>\nBecause there are people that write the laws.<br \/>\n8:00<br \/>\nAnd adopt policies and impose certain measures on others that use the strategies that I show people, but they don\u2019t want us to know about them.<br \/>\n8:08<br \/>\nAnd so, here we are.<br \/>\n8:11<br \/>\nBut anyways, I had spoken last time a little bit about proprietary information. So just keep this in mind, It\u2019s going to come up a little bit.<br \/>\n8:20<br \/>\nYou all have companies, usually, or a trust organization, or if not, you should, because documents that are in the custody of the company, or someone that\u2019s associated with the company can be labeled and identified as confidential.<br \/>\n8:32<br \/>\nOr the proprietary information are our property of the company.<br \/>\n8:37<br \/>\nAnd that it ironically, that is respected in the legal community is corrupt as it may be. So, just keep that in mind. Where you get into the real-world with documentation and things like that.<br \/>\n8:48<br \/>\nIt is, you do have protections under proprietary data, provisions, and also, data that\u2019s considered confidential, and there is a thing called electronic electronic data, OK, electronic electronically stored information, is what they call it ESI.<br \/>\n9:07<br \/>\nSo, we can deal with that, I know I mentioned it in the previous video, and, of course, um, I think you should deliberately.<br \/>\n9:15<br \/>\nHere\u2019s another reason why I\u2019m doing this, this discussion here, this, I\u2019m explaining this is because people\u2019s attitude, generally, I\u2019m not saying it\u2019s wrong, but their attitude generally is that they feel like they\u2019re getting away with something, or they feel like they have to defend themselves.<br \/>\n9:34<br \/>\nIf they want privacy, and I believe you should have the opposite attitude, your attitude should be, how dare you ask me for that.<br \/>\n9:41<br \/>\nThat\u2019s what I do when I go to the doctor. I mean, I can do with the doctor, I can\u2019t do with the bag so much.<br \/>\n9:45<br \/>\nBut when it comes to the doctor, no, My chiropractor.<br \/>\n9:50<br \/>\nI don\u2019t go to a regular family doctor, but my chiropractor and whatever, they asked me for these things and that was way back early and I always explain. I always ask them, OK, so what\u2019s your liability and this sort of thing to collect my data. So, there\u2019s a conversation about how you maintain privacy about your records, and it\u2019s not a big deal, I could just make up a number, right?<br \/>\n10:08<br \/>\nIf they want my Social Security number, I can just make up a number that that\u2019s complying and I want people to realize that I have a refuse to comply, and that they\u2019re going to have to understand the law when they\u2019re asking me for these things.<br \/>\n10:18<br \/>\nNow, when I go to the bank, of course the, the law doesn\u2019t apply, OK? Because the banks as well as our policies eat. So you have to make a choice. Do I want to have the service?<br \/>\n10:29<br \/>\nis there an alternative?<br \/>\n10:30<br \/>\nIt\u2019s coming, OK.<br \/>\n10:32<br \/>\nSo I\u2019m kind of hanging in there like you guys but um, expected in the near future.<br \/>\n10:37<br \/>\nCryptography is going to give you the privacy you want Cryptography and that you should expect and demand it.<br \/>\n10:46<br \/>\nOK, the earliest at the earliest time you can now, um, this is a little bit beyond the privacy aspect, but I wanted to have this explanation about someone someone was talking to me the other day about filing a bankruptcy and in a bankruptcy proceeding.<br \/>\n11:06<br \/>\nYou\u2019re use of money and property is you give up your control really or it\u2019s always under scrutiny, OK, so you\u2019re you\u2019re you\u2019re kind of bound up you can\u2019t do anything new.<br \/>\n11:17<br \/>\nIf you do, you could be in mmm hmm contempt of court, you can violate some of your statements you made under oath and really bankruptcy is a business of the trustee.<br \/>\n11:28<br \/>\nSo let me just explain generally, and here\u2019s another use of this information, just going about doing the things you\u2019re gonna do. You\u2019ll probably have a lot of money, and this, this will come by you. This information will come by, OK, I don\u2019t know if you\u2019re gonna go to another country or whatever, but this is similar in most countries. So I\u2019m just going to talk about bankruptcy in the United States.<br \/>\n11:49<br \/>\nAnd so bankruptcy just means, basically, you can\u2019t pay your creditors. And so there\u2019s another term for that.<br \/>\n11:55<br \/>\nIt\u2019s insolvency, being insolvent.<br \/>\n11:59<br \/>\nNow in the United States.<br \/>\n12:01<br \/>\nI just conclude that after seeing it for so long, bankruptcy is a brand.<br \/>\n12:07<br \/>\nIt\u2019s not a solution. It\u2019s not a real good legal strategy. It\u2019s a brand.<br \/>\n12:13<br \/>\nIt\u2019s a business and people are exploited by it. I know people have succeeded in getting what they want. Like, for example, a Chapter seven.<br \/>\n12:22<br \/>\nAnd that\u2019s just an expensive way not to pay your debts. You could just simply not pay your debts.<br \/>\n12:26<br \/>\nI mean, Chapter seven is the same. Whether or not you file or not, you know, file a chapter seven, or don\u2019t.<br \/>\n12:31<br \/>\nIf you qualify for chapter seven, you\u2019re just going to pay to get a judgement when if you qualify for it, you don\u2019t need to follow chapter seven, I\u2019m sure you\u2019ve heard me talk about that, but Insolvency can be established by a court. You don\u2019t have to file bankruptcy in the US. District court in the bankruptcy court you can actually petition for insolvency and insolvency proceedings in your state court.<br \/>\n12:53<br \/>\nThere\u2019s actually forms. You can look up on the Internet and I\u2019m not saying go off and do that. I\u2019m just saying, this is what bankruptcy really is.<br \/>\n12:59<br \/>\nIt is a situation where a person who has debt obligations can\u2019t pay them anymore and needs to have a third party who\u2019s supposed to be neutral.<br \/>\n13:09<br \/>\nManage the liquidation of that person\u2019s assets, our ability to pay and settle debts in some sort of priority sequence.<br \/>\n13:20<br \/>\nOK, and there Those are set up by rules in the Court So bankruptcy, you can see that this is done through what\u2019s known as a re-organization plan.<br \/>\n13:27<br \/>\nNow sometimes it\u2019s useful I know you\u2019ve heard the story about how Donald Trump uses bankruptcy.<br \/>\n13:32<br \/>\nAnd really what he does is this picture. This this guy is in his office. He\u2019s become a billionaire probably in the late nineties.<br \/>\n13:39<br \/>\nAnd he\u2019s probably bored, He\u2019s got everybody doing everything, you know, that you expect. But he has, he\u2019s looking around at some people that are entrepreneurs, like he is, and he\u2019s saying they\u2019re struggling, and they\u2019re getting beat up by the banks.<br \/>\n13:52<br \/>\nAnd so what he\u2019ll do is, he\u2019ll say, set himself, hey, that looks like a pretty good opportunity. I\u2019m asleep. I can buy into it and he\u2019ll buy into a company and by 51%, OK.<br \/>\n14:01<br \/>\nSo, let\u2019s say you\u2019ve got a team of people, or an entrepreneur or something, and he\u2019s running a company and he\u2019s getting kinda beta because he doesn\u2019t have, he doesn\u2019t have the weight, right? Doesn\u2019t have the experience. So, so, Trump will buy into it.<br \/>\n14:11<br \/>\nAnd then he will try to negotiate his way out.<br \/>\n14:15<br \/>\nAnd, of course, the bankers don\u2019t like that and they\u2019re going to usually it\u2019s with the bank, OK, so.<br \/>\n14:21<br \/>\nSo, what he\u2019ll do is use the bankruptcy court to negotiate or force and negotiation or term he wants with a creditor to make it fair, or to make the thing profitable. And then, he\u2019ll He\u2019ll, take his He\u2019ll do, is exit strategy at by himself out or whatever he does.<br \/>\n14:36<br \/>\nOr he might own, it depends on how he wants to do it, but he\u2019ll he\u2019ll use it just as leverage to negotiate a deal. So in that sense, if you understand a couple of things or you have a good team, you can do things like that. I mean that probably is expensive to do that. I\u2019m just saying it\u2019s a lot more than what people think.<br \/>\n14:52<br \/>\nSo it\u2019s important to understand that you use the court system to administer an insolvency proceeding and there\u2019s a trustee. And the way people are exploited that I\u2019ve seen as they file bankruptcy in the district court and they thought all these disclosures and things like that. Then the trustee really makes a lot of money. I mean the trustee makes a lot of money out of what is liquidated.<br \/>\n15:14<br \/>\nIt\u2019s really, it\u2019s exploiting the person. Who is the petitioner?<br \/>\n15:18<br \/>\nAnd this is why I don\u2019t recommend bankruptcy, because it\u2019s really just a payment plan and you can do this yourself. You don\u2019t need bankruptcy. Here\u2019s what people go to bankruptcy for it.<br \/>\n15:27<br \/>\nThey go to they do an insolvency petition.<br \/>\n15:29<br \/>\nNot usually but they do a bankruptcy petition because the court gives you an injunction that blocks everybody from taking your stuff.<br \/>\n15:39<br \/>\nThis is known as a 100 day Automatic stay, this is how it is in the US. Bankruptcy Court.<br \/>\n15:44<br \/>\nSo the 100 Day Automatic Stay is an injunction. It\u2019s a standing injunction order from the Court.<br \/>\n15:52<br \/>\nThat when you file you automatically, the moment you file, everybody has to stop taking your stuff anywhere in the world. That\u2019s what the United States is giving you. So you\u2019re paying for that.<br \/>\n16:01<br \/>\nThis is the this is the quid pro quo.<br \/>\n16:05<br \/>\nNow, and this is what brought this up.<br \/>\n16:07<br \/>\nI mean, I want to explain a little bit to you. So this is the kind of system wherein OK, and I know you guys are excited about Kryptos.<br \/>\n16:16<br \/>\nIn 19 33, I\u2019m sure you\u2019ve heard lots of stories about this. But you can just go look this up yourself. I don\u2019t know. What if it\u2019s a re-organization or it\u2019s a new bankruptcy. I mean, there\u2019s lots of stories on this. I don\u2019t, I don\u2019t even want to know all the actual details, like, just get the general idea Boma tell you.<br \/>\n16:34<br \/>\nIn 19 33, Franklin Roosevelt, who was the president at that time, had to establish, let\u2019s call it a new bankruptcy proceeding, had to re-organize whatever was going on financially with the United States. And I don\u2019t know if you\u2019ve heard this before.<br \/>\n16:47<br \/>\nIf you remember, back in your days in school when you may have been studying about FDR and the new deal, OK?<br \/>\n16:55<br \/>\nThe New Deal, It was sold to consumers as a chicken in every pot. Everyone\u2019s going to be prosperous.<br \/>\n17:02<br \/>\nIf you go along with this new deal, and the New Deal was nothing but a bailout plan for the bankers, and it was a re-organization for the United States, which is a business. It\u2019s not. It\u2019s not a nation.<br \/>\n17:13<br \/>\nAnd so you have to ask yourself, how am the heck does, what\u2019s called the country?<br \/>\n17:19<br \/>\nHow the heck does the United States, presumably a country, go into bankruptcy?<br \/>\n17:24<br \/>\nDoes it file bankruptcy petition in the United States? I just heard, I just heard someone tell me the other day that that actually happened.<br \/>\n17:30<br \/>\nI don\u2019t know that I don\u2019t believe that that\u2019s what actually happened, but in any case, a country, presumably a country doesn\u2019t file a bankruptcy and its own agency.<br \/>\n17:41<br \/>\nIt\u2019s the country.<br \/>\n17:42<br \/>\nIt has to write a law to administer an insolvency proceeding, which we\u2019ve been in since every one of us listening to this has been alive.<br \/>\n17:52<br \/>\nWe\u2019ve we\u2019ve participated in an economy that\u2019s in receivership, receiverships, or insolvency and insolvency proceeding is where you appoint a trustee or a corporate trustee board of trustees.<br \/>\n18:06<br \/>\nAnd you conduct a receivership proceeding proceeding to liquidate and settle the debts as fairly as possible OK?<br \/>\n18:13<br \/>\nSo the United States went into a new receivership period and I believe there are about 70 years each for for our country for the United States.<br \/>\n18:23<br \/>\nAnd so in 19 33 a new law was written and it was it was codified in Title five of the United States Code. It was known as the Administrative Procedures Act.<br \/>\n18:35<br \/>\nAnd this is what\u2019s led to all the government agencies.<br \/>\n18:39<br \/>\nWe call the three letter friends, they\u2019re not really friends, but that three letter agencies, OK, That\u2019s where they come out, of, which is almost like your fourth branch of government.<br \/>\n18:47<br \/>\nNow, you have your Judicial branch, Legislative, and Executive branch, but then you have your Administrative law branch, OK?<br \/>\n18:53<br \/>\nAnd so the Administrative Law: incorporate some aspects of all three branches of government into, and on its own preliminary process, OK, before you get to the court. There\u2019s an administrative process, that\u2019s why. if you see the government, you actually have to go through an administrative process, before you actually go to court. You have to serve notice. You have to fill out forms, or things you have to do to see the government, because we have this Administrative Procedures Act.<br \/>\n19:21<br \/>\nNow, I also believe that when you saw the bombing of the World Trade Center, I believe that part of the thing that came out of that was the Patriot Act, and, you know, the NDA, all these things.<br \/>\n19:30<br \/>\nBut I believe that part of that was, too, give these all these agencies that that had blossomed from the last 70 years or so, give them access to all the other agencies\u2019 information about people.<br \/>\n19:43<br \/>\nOK, you can check that out. There\u2019s a lot of things that happened with that with the bombing.<br \/>\n19:47<br \/>\nBut, um, so we have the America or the, the Administrative Procedures Act. Now, what really struck me is, my partner was introducing me to this back in the nineties, and he was showing me, this is back when we used to have to, you know, get the law books and the statutes and sit at a desk and actually page through it. And he page over to section five.<br \/>\n20:09<br \/>\nI\u2019m sorry. It\u2019s Title five of the United States Code, Section 502 A.<br \/>\n20:13<br \/>\nNow, this may sound off topic, and I\u2019m sorry if it does, I think this understanding, we\u2019ll help you make decisions, and help you understand why I do the things I do.<br \/>\n20:26<br \/>\nSo hopefully that said, yeah, in the very first title page, OK, and Title five, United States Code, we pulled that. We pulled the actual volume off the shelf, OK. And we page through to Section 5 5 to lowercase a 5 5 2, 8.<br \/>\n20:41<br \/>\nAnd it There was a big banner page on there, and it said, In big letters, government re-organization plan.<br \/>\n20:50<br \/>\nNow I must say that again.<br \/>\n20:53<br \/>\nSo in Title five of the United States Code, you can look this up, it\u2019s online, Section 502 A.<br \/>\n21:00<br \/>\nThis is the first page, OK, when you when you start reading this, you will see you might see this online I don\u2019t know. But the actual paper book has this.<br \/>\n21:06<br \/>\nIt says in bold letters, government re-organization plan.<br \/>\n21:11<br \/>\nSo the re-organization plan was a plan to create all these administrative agencies to administer the bankruptcy or the receivership of the United States, and it\u2019s still like that it\u2019s still insolvent, as you can tell.<br \/>\n21:23<br \/>\nSo anyways, this is where we are this is when you bring in cryptographic currency. And as you as you see like in El Salvador, OK, the government adopted a law that says, Now Bitcoin is accepted.<br \/>\n21:35<br \/>\nAs legal tender.<br \/>\n21:37<br \/>\nthat means it\u2019s taxable.<br \/>\n21:40<br \/>\nIn case you guys are wondering, hey, John, is it going to be taxable Sunday?<br \/>\n21:43<br \/>\nYes, it will be if the government says, it is now legal tender And this is what I told you years ago.<br \/>\n21:50<br \/>\nWhen you hear that a law is passed that says, a coin of some kind or wherever monetary unit is now legal tender for all debts, public and private, it just takes the same status as the current currency, the dollar, or whatever, OK?<br \/>\n22:04<br \/>\nSo, yeah, and that day will come.<br \/>\n22:07<br \/>\nAnd that\u2019s why I\u2019m, I\u2019m explain this, you have to take your privacy, you have to take your financial freedom, you cannot be afraid and succumb to this because they will run you over.<br \/>\n22:18<br \/>\nSo, what does that mean? I don\u2019t know.<br \/>\n22:19<br \/>\nI mean, I explain to someone today.<br \/>\n22:22<br \/>\nUm, he was asking about bidens tax on a state\u2019s some huge amount of money or something. I don\u2019t know what they\u2019re doing, but I don\u2019t care about that stuff, because you have a choice, not to put stuff in your estate.<br \/>\n22:36<br \/>\nSo, this is what I\u2019m talking about.<br \/>\n22:38<br \/>\nYou have to make that choice.<br \/>\n22:40<br \/>\nI don\u2019t care what they do. I really don\u2019t care what their laws are.<br \/>\n22:43<br \/>\nThose laws, they don\u2019t commit crimes in good shape.<br \/>\n22:46<br \/>\nSo, yeah, what they want to do is, you know, they want to limit your access. They want to limit your privacy.<br \/>\n22:51<br \/>\nSo, when you go into bankruptcy, when you\u2019re in salva, when you\u2019re in receivership, you don\u2019t have access to your money really.<br \/>\n22:56<br \/>\nI mean, if you do something during, during the time of the re-organization plan, while it\u2019s being administered, if you do something with money to make more money, the trustee will actually have to know about it. You actually have to tell them that if you don\u2019t, that\u2019s actually a crime.<br \/>\n23:10<br \/>\nAnd he or she will have to go in modify that re-organization plan, because it\u2019s the trustee\u2019s duty to pay the creditors as much as possible in the priority that they have. So, you\u2019re really limited.<br \/>\n23:21<br \/>\nSo, um, let\u2019s see here.<br \/>\n23:26<br \/>\nI\u2019ll just, I\u2019m gonna give you a couple of principles to follow, and I\u2019m gonna give you a reference, and, yeah, let\u2019s do some questions today and hopefully, this wasn\u2019t too boring, and maybe we can have some questions on topic here. I don\u2019t mind answering a few that are off slightly.<br \/>\n23:41<br \/>\nI\u2019ve done this work for about maybe 28 years, and it\u2019s probably exceeded 30,000 individuals with debt situations of some kind.<br \/>\n23:52<br \/>\nNow, some people have small percent, some people had high net worth. Most people did not.<br \/>\n23:58<br \/>\nMost people, I was working with our consumers.<br \/>\n24:02<br \/>\nA group over the years has been small businesses. I\u2019ve never worked with a small business More than that had more than $5 million a year gross income, OK.<br \/>\n24:14<br \/>\nBut I did and all those years in almost every conversation I had with each client We discussed the possibility of doing a bankruptcy and everyone I recommended not to file a bankruptcy.<br \/>\n24:27<br \/>\nNow this there\u2019s an exception to that. I did use bankruptcy.<br \/>\n24:30<br \/>\nI had people do that to shut down foreclosure Scenarios to keep them in their homes longer So we could do certain things but we never filed re-organizations plans. We just we use it to jam up the foreclosure process, so.<br \/>\n24:45<br \/>\nIn all those cases, and all those situations, And in, each, each one of those, I mean, each client may have had 3 to 5 or 8 different situations he was working with, and even then, it didn\u2019t make sense, in my opinion to use bankruptcy now.<br \/>\n24:58<br \/>\nI talked with someone the other day and, and as I got all the detail on her situation, I discovered that her attorney who sold her the bankruptcy idea could have easily solved her problem because of the type of debt she had, the type of debts, she has several accounts. With the Consumer Credit Protection Act.<br \/>\n25:18<br \/>\nWe have a law here in the States that basically says, creditors are very, or severely limited to collecting.<br \/>\n25:24<br \/>\nAnd this allows me to restructure my clients cash flow and property rights in a way that takes advantage of the Consumer Credit Protection Act.<br \/>\n25:33<br \/>\nAnd and that law is so friendly. it actually blocks everybody from taking my client\u2019s property in his cash flow.<br \/>\n25:38<br \/>\nSo if I can do that, why don\u2019t we need to file bankruptcy because bankruptcy, I\u2019m gonna pay money Now in all these years, 28 years or so.<br \/>\n25:47<br \/>\nI did recommend a bankruptcy to one person. And this was an orthodontist. He was doing really well who\u2019s making a lot of money? He had a very good practice and actually, he did a fantastic job.<br \/>\n25:59<br \/>\nUh, acquiring debt, too.<br \/>\n26:02<br \/>\nFinance his operation. Now, this is an example where a person who has a really smart, and he had lots of cash flow, instead of using his own cash flow, to finance his operation, he used it to, to manage the operation, any isolated the financing to lenders. Now, his mistake was, he went to people that he knew his friends family and used their money as loans, and even even combined some business loans with personal loans to his family friends. And so, that was so it was so intertwined.<br \/>\n26:29<br \/>\nI didn\u2019t want to get into it with him, and I didn\u2019t want to disrupt what he was doing, and I just suggested to him that he go to Chapter 11 bankruptcy, and still operate his business. No problem, and put that onus on the trustee. In Chapter 11, and I explained to him that he would pay a premium, let\u2019s call it.<br \/>\n26:46<br \/>\nHe would be facing cost, OK? high cost.<br \/>\n26:52<br \/>\nThe outrageous costs OK to do this, but I said you\u2019re quite successful. What I observed was and it makes sense to pay to have someone handle that who does handle that and deal to creditors and get your family out of those debts. And, and rightly so, you should be having debt in the company name, and that\u2019s the thing I suggest I said after you get through a an insolvency proceeding you want to start building up credit and you can do this now.<br \/>\n27:17<br \/>\nActually I told them you can start building up credit in your business and isolate that from any personal debts or family relationships. You don\u2019t want to you want to do that with a business of that kind. So in any case that was the only time in the end that those years that I recommended it now.<br \/>\n27:32<br \/>\nUm yeah, that was only time.<br \/>\n27:37<br \/>\nI just wanna mention that, now, at the end of this, I\u2019m almost done here, at the end of this. I\u2019m gonna explain, I have an interesting interview, I wanted to bring to you.<br \/>\n27:45<br \/>\nIt is going to be a live stream, like we\u2019re doing now, and I believe we\u2019re going to take questions, and it is going to be about placing large amounts of money in a re allocation plan, and who are going to be talking to.<br \/>\n28:01<br \/>\nI\u2019m bringing on somebody who can explain about forming limited partnerships in, let\u2019s call it mergers and acquisitions, OK.<br \/>\n28:09<br \/>\nSo this person deals with people with capital that they need to invest in other Endeavors, and so there are going to be probably four categories that we\u2019re going to talk about. And we can do several of these calls.<br \/>\n28:22<br \/>\nI\u2019m not going to publish this interview Like I have been on YouTube or on on the ace of coins List. What I\u2019m going to do is make it private, and I\u2019m gonna keep it in the for members only, but I will, anyone, who\u2019s on this list. You can listen to the interview.<br \/>\n28:36<br \/>\nSo what we\u2019re going to talk about is how to place investments.<br \/>\n28:41<br \/>\nAnd I told her, the woman who\u2019s setting this up, I told her, the people I\u2019m working with are going to be anywhere from $2 million to $100 million somewhere in that range that they want to place.<br \/>\n28:52<br \/>\nAnd so that\u2019s gonna give us a wide swath to deal with, and so we\u2019re looking at real assets, private credit, real estate, and private equity, OK, as your means of putting place in capital when you re-allocate.<br \/>\n29:06<br \/>\nSo we can do a series of those, and it\u2019ll be two people with me and the other person. And basically, it\u2019s going to be my questions, and you guys can ask questions, So I just want to give you a heads up on that. But, anyways, here are a couple of principles I\u2019m going to share with you.<br \/>\n29:18<br \/>\nThen, I\u2019m going to give you a couple of references. And then I\u2019d like to do some questions. I know, I think last time, we just did a 45 minute call and I didn\u2019t do questions, so I think I\u2019m pretty good today. So about three more minutes.<br \/>\n29:29<br \/>\nThe general rules I follow are, I don\u2019t, I don\u2019t recommend borrowing money just because you don\u2019t have enough money. That\u2019s not the time to borrow money.<br \/>\n29:37<br \/>\nYou borrow money when you want to manage risk, So just keep that in mind.<br \/>\n29:41<br \/>\nUm, don\u2019t pay off consumer debt early. I know I\u2019ve said this many times, so I just want to say it again, I\u2019ll probably say it again more. Instead of paying consumer debt off early use.<br \/>\n29:51<br \/>\nThe method of set off, like I explained a set off, basically, is where you have a liability that you want to pay off and I say don\u2019t do that.<br \/>\n29:59<br \/>\nInstead.<br \/>\n30:01<br \/>\nAdd an asset, or let\u2019s call it cash flow of some kind. Add that to the Balance Sheet with the liability. So let\u2019s say your house is on the balance sheet, right. And for most people, they just leave their house on the balance sheet. And I\u2019m not saying you guys have a balance sheet for your house, Most people don\u2019t.<br \/>\n30:15<br \/>\nBut if you did, you\u2019d have a balance sheet for your house, showing a negative cash flow, OK? Negative, whatever.<br \/>\n30:21<br \/>\nEquity is another story.<br \/>\n30:22<br \/>\nBut, anyways, you would go and find some cash flow. That offsets the liability of the house and then not paid off early. Use the cash flow to set off the liability and tour it balances, OK?<br \/>\n30:36<br \/>\nYou don\u2019t need to, you don\u2019t need to really make a lot of money just so enough, so it balances OK, and that way, it\u2019s effectively paid off.<br \/>\n30:43<br \/>\nWhat really happen, though, is something else is paying your mortgage for you, and you have to work for that, OK, so that\u2019s the idea there.<br \/>\n30:49<br \/>\nThat\u2019s why I say, don\u2019t pay off consumer debt. Use a set up instead.<br \/>\n30:54<br \/>\nUm, don\u2019t make financial decisions solely for tax benefits.<br \/>\n30:59<br \/>\nI know I\u2019ve spoken about that many times.<br \/>\n31:01<br \/>\nAgain, don\u2019t make financial decisions based solely on your personal credit.<br \/>\n31:08<br \/>\nNow, sometimes, it helps to have personal credit in a deal.<br \/>\n31:12<br \/>\nI would suggest that should be temporary. That should be your plan.<br \/>\n31:15<br \/>\nSo, but don\u2019t be making decisions based upon your personal credit decisions. I\u2019m say, financial decisions. This decision should be on how it affects your net worth. And we\u2019ll get to that in just a second. Again, this is more important.<br \/>\n31:29<br \/>\nDon\u2019t make financial decisions based upon your home equity.<br \/>\n31:33<br \/>\nBecause really equity, your home equity equity is kind of a fiction.<br \/>\n31:38<br \/>\nYou might want to, based credit worthiness, are financial decisions based upon a business\u2019s ability to borrow, that\u2019s a little bit different, OK?<br \/>\n31:47<br \/>\nNow, this is a, goes to a conversation I have with my at my dentist and I would say, do make financial decisions based upon what you calculate to be return on capital reasonably, OK.<br \/>\n32:00<br \/>\nYou put money in, you get return of principal, then, what\u2019s your rate of return To get into internal rates of return?<br \/>\n32:07<br \/>\nYou can look this up, there\u2019s internal rates of return, net present value. I look at things like that.<br \/>\n32:12<br \/>\nSo if I have a lump sum of cash, and I put that into a house to pay off the mortgage, the net present value, I don\u2019t even know what the number is. Did I give you the numbers?<br \/>\n32:22<br \/>\nNo, I\u2019m just going to tell you that your net present value on that, cash, whatever you want to pay off the mortgage, is negative.<br \/>\n32:28<br \/>\nWho wants a negative use?<br \/>\n32:31<br \/>\nI was capital, You shop all day long to get low interest rates. You look around for investments that have a certain yield. But yet, you want to go pay off your mortgage early.<br \/>\n32:39<br \/>\nYou\u2019re deliberately causing a negative cash flow with your cash, that already has a negative cash flow, because, I mean, in today\u2019s economy, if you have cash, you\u2019re just sitting there, you\u2019re losing money every minute, they\u2019re sitting there, right? You gotta put it into practice, So, just look at it that way. The capitalization rate, gross rent, things like that, Look at those numbers, and that\u2019s how you make financial decisions. I also do with friends. I mean, in partners, I just asked their opinion on things like that, So.<br \/>\n33:07<br \/>\ntwo references, if I haven\u2019t explained this till, I know some of you I have, we\u2019ve discussed this, but there\u2019s a book you want to read now, you can get this for free on the Internet. This is the first thing I do. I look for the PDF version of the book, and the older it is, the more chance there is, of it, being Free on the Internet.<br \/>\n33:22<br \/>\nAnd in fact, if you like audio books, there\u2019s actually software that will read the book to you.<br \/>\n33:27<br \/>\nSo this one I want to introduce you to is the richest man in Babylon.<br \/>\n33:33<br \/>\nQuite entertaining.<br \/>\n33:34<br \/>\nIt\u2019s yeah. You\u2019ll see for yourself richest man in Babylon. good stuff in there.<br \/>\n33:40<br \/>\nAnd also that really opened my eyes to a lot of things about millionaires, what\u2019s called a millionaire mind, OK? You\u2019d be surprised at how millionaire\u2019s do things.<br \/>\n33:51<br \/>\nIt\u2019s totally different than how consumers do things. So, if you just read that book.<br \/>\n33:56<br \/>\nThis gentleman, I think he interviewed about almost 500 millionaires.<br \/>\n34:00<br \/>\nAnd he asked them questions about what kinds of a clothing they buy and why, and why do they pay what they pay.<br \/>\n34:07<br \/>\nAnd where do they shop, and what do they think about when they buy a house, and what do they think about debt and things like that. It\u2019s really, it\u2019s really telling.<br \/>\n34:15<br \/>\nSo, um, I\u2019m going to restate what we, just, what I was explaining, OK, so I\u2019m going to have someone come on with this on our zoom calls, and we\u2019re going to talk about how to invest or place millions of dollars in types of assets, and now the person I\u2019m bringing on does that.<br \/>\n34:34<br \/>\nIt\u2019s, let\u2019s call it the person, I\u2019m mergers and acquisitions profession now. I don\u2019t know who that is. I don\u2019t know the person\u2019s name. I just know that\u2019s what he or she is going to do. That\u2019s going to be the first one, and we\u2019ll probably have that person on again. I\u2019m gonna find some more so we can have a wide range of information about what\u2019s out there.<br \/>\n34:50<br \/>\nSo the big trick here is we can talk about all this, but we still have this one problem, I don\u2019t know how to answer this one.<br \/>\n34:58<br \/>\nWhat\u2019s going to be around in five years and three years? I don\u2019t know.<br \/>\n35:02<br \/>\nWe can speculate, so we\u2019ll see, I\u2019m gonna make this list again, so we\u2019re talking about, it\u2019s going to be probably this coming Thursday, maybe next Thursday, I hope to do it this month.<br \/>\n35:13<br \/>\nThat\u2019s my goal. We\u2019re going to talk about how to place millions of dollars into real assets.<br \/>\n35:19<br \/>\nReal estate.<br \/>\n35:21<br \/>\nPrivate equity, private credit.<br \/>\n35:23<br \/>\nI don\u2019t know what private credit is, by the way. I don\u2019t get into that but we\u2019re going to learn, OK. I\u2019m like you guys Also joint ventures.<br \/>\n35:31<br \/>\nThis is why I\u2019ve made a lot of money over the years with joint ventures.<br \/>\n35:34<br \/>\nAnd something else that I just mentioned once in a while, but I think you guys want to check out endowment funds, E, and D O W M E N T.<br \/>\n35:43<br \/>\nEndowment, funds, Endowment funds have been used. They\u2019re profitable. You can actually make make money with them.<br \/>\n35:51<br \/>\nLots of tax benefits with them.<br \/>\n35:53<br \/>\nAnd they have been used to build things in our society and also destroy things in our society, in our current system of schooling, OK. Namely, the university system has been destroyed by endowment funds.<br \/>\n36:05<br \/>\nIt\u2019s been destroyed by the people you would suspect who would do that.<br \/>\n36:08<br \/>\nOK, like the Rockefellers and so forth. But with that example, bad example, I think we can turn that around.<br \/>\n36:14<br \/>\nAnd we can create our own endowment funds, especially with new technology and smart contracts, OK.<br \/>\n36:19<br \/>\nAnd we can create endowment funds that would work as an asset for our families for generations, and it\u2019s a great way to put place, place or put Generational. Well.<br \/>\n36:30<br \/>\nOK, in addition to other methods, this is a great thing to make social change, adhere to certain moral principles, and things you want to happen, when you\u2019re not here, maybe to benefit your family. So in any case, I\u2019m going to stop there, because it has stopped myself.<br \/>\n36:43<br \/>\nI hope that was useful.<br \/>\n36:45<br \/>\nAnd let me just, um, I see Jeff Heer Gushed. Yep, you\u2019re fast. Alright, so yeah, let\u2019s do some questions here. I\u2019m gonna stop talking.<br \/>\n36:52<br \/>\nCalling Jeff here. All right.<br \/>\n36:54<br \/>\nHey, Jeff.<br \/>\n36:57<br \/>\nWow, Yeah, it\u2019s, you. OK, I might be throwing your topic swerve here.<br \/>\n37:04<br \/>\nBut I\u2019m basically brand new to the Privacy Fight club, and I don\u2019t know where to begin or how to start. Really changing my life, you know?<br \/>\n37:19<br \/>\nThis all kind of started for me with covert last year, OK? I\u2019m a concert touring sound engineer.<br \/>\n37:27<br \/>\nOK, and you know, all the concert\u2019s shut off and yeah, I\u2019ve literally turned my life around from doing that thing exclusively to doing anything I can to try and find cash and pay the price, right.<br \/>\n37:44<br \/>\nAnd that also gave me a blessing.<br \/>\n37:48<br \/>\nA couple of years ago, just started throwing $50 a week into Bitcoin, and all of a sudden that went 10 X. And so I joined the bench team and have started trying to take, that little nest egg and grow and in something, really special.<br \/>\n38:06<br \/>\nBut, you know, my problem today is like, I have probably 8, nine different companies, maybe 12 that are gonna send me 10 99, not from crypto, but just from labor. Right, I don\u2019t have an LLC Or anything. I don\u2019t know what to do. OK, well, Interesting. Yeah, well, That\u2019s, it\u2019s, it\u2019s, it woke you up a bit, and that\u2019s what\u2019s happening. A lot of people so that, there\u2019s a bit of a transition, It\u2019s, it is stressful.<br \/>\n38:32<br \/>\nYou can manage 10 99 easily, just by setting up a company, you can register a limited liability company and then what you would do is just give a W nine to the company that\u2019s sending 1099, So as of this date during the year, you\u2019re on the hook for the taxes that Tax treatment you, you\u2019re stuck there, but going forward, you know that will diminish so into next year if you do this this year, you can have a completely different tax treatment.<br \/>\n38:58<br \/>\nOK, yeah.<br \/>\n38:59<br \/>\nWell, I think I\u2019m safe for this year.<br \/>\n39:01<br \/>\nLast year is already in the bag question about that. I, I did sign the yes, I bought cryptocurrency box.<br \/>\n39:09<br \/>\nYeah.<br \/>\n39:10<br \/>\nYeah, and I have to do a follow up video, because I wasn\u2019t very clear. My first one, I have a 6.5 minute video, and I put some notes here, you guys, if you wanna check it out, but I wanted to be clear on this, because the IRS says A purchase is when someone takes his own coins and buys other coins from someone else. Right?<br \/>\n39:26<br \/>\nAll right, oh, that was for that, We say yes, on the 10, 40 Other than That, I don\u2019t believe, we say, Yes, I think it\u2019s no and then we still have the issue of, And I\u2019ll do the video on this, but, yeah, that I wouldn\u2019t be so concerned about, it\u2019s really, about when you\u2019re going to take profits.<br \/>\n39:39<br \/>\nYeah, I\u2019m not.<br \/>\n39:40<br \/>\nYeah, You can just bind your name and do what you want.<br \/>\n39:44<br \/>\nSo I got my account set up with Caleb and Brown and know at some point I want to get an LLC.<br \/>\n39:50<br \/>\nThe trust, whatever I need to set up so that you know, maybe next year early, I can take off the first slice a little bit of profits and try to start solidifying a foundation for my life financially going forward. Right, I\u2019ve got a, you know, a mortgage and credit card debt and regular stuffs, like everybody. And I\u2019ve heard you say things like, you know, don\u2019t pay off your house that stupid. You just explained why, you know, it\u2019s a negative cash flow position.<br \/>\n40:15<br \/>\nSo you know I\u2019m gonna have to learn how to get from here to there.<br \/>\n40:21<br \/>\nSomehow over the next year it feels like, which is a firehose. Yeah, it is. I\u2019ve heard that analogy many times. I\u2019ll just go to a bug in here. I\u2019m gonna put a bug in your ear, please, if I\u2019m in your situation.<br \/>\n40:33<br \/>\nMy first thought is, Hmm, what asset can I acquire or what kind of cashflow can I create, from my knowledge? Things I already know?<br \/>\n40:41<br \/>\nPeople, I know, Phone calls, I can make.<br \/>\n40:44<br \/>\nYou\u2019d be surprised, and what does that mean? Cash flow?<br \/>\n40:46<br \/>\nWell, Look at somebody doing a thing, and have an idea, You just have to have the idea and see if you can work out a deal with them so that you can both make money mm. I know that\u2019s really generic, but that\u2019s what you\u2019re looking for in addition to doing what you\u2019re doing.<br \/>\n41:02<br \/>\nI would I would look for that.<br \/>\n41:03<br \/>\nIn fact, some of those nine People you\u2019re working with, maybe that type of organization I don\u2019t know. Yeah.<br \/>\n41:10<br \/>\nThere and I might ask.<br \/>\n41:12<br \/>\nMy thinking also has to do that without it\u2019s becoming a second job.<br \/>\n41:18<br \/>\nRight, and it can be done. So, and yes.<br \/>\n41:21<br \/>\nI mean, you\u2019ve already thought of that.<br \/>\n41:22<br \/>\nSo there\u2019s a company in Oregon, which is close to where I live. That has just hired me this week, as a matter of fact, to do a series of events here in the summer for them.<br \/>\n41:35<br \/>\nBut Dave\u2019s privately told me that they\u2019re not gonna continue doing business beyond this year. They\u2019re gonna finish out this summer to try and help their clients of decades past and are gonna somehow liquidator get out of the business.<br \/>\n41:49<br \/>\nSo that\u2019s absolutely, OK, an opportunity Then There may be an opportunity there, just be aware of like any agreements you have with non-compete and stuff like that, but if they\u2019re out of business, well, then, And you have an insider type knowledge, mm. Yeah, I don\u2019t know what kind of debt they hold them in. I know that they bought some equipment a couple of years ago, that\u2019s, I\u2019m sure, a big piece of their debt. I don\u2019t know how That would work out. So, you know, me, buying the company, doesn\u2019t come with a company, should I put a different company, then to separate the debt and the assets, and all that kinda stuff, you know?<br \/>\n42:24<br \/>\nThat\u2019s negotiable, and debt is up as a way to manage risk.<br \/>\n42:27<br \/>\nIt\u2019s, it\u2019s a bad thing, yeah, especially a company, so yeah, but certainly, we can certainly talk about that. But yeah, you get the idea. Just hang in there and there\u2019s, yeah, there\u2019s a lot of information and you really don\u2019t have to do anything. It\u2019s just let your brain absorb some of it.<br \/>\n42:41<br \/>\nIt\u2019s taken me years to No, no, it sounds simple.<br \/>\n42:45<br \/>\nLike, I\u2019m saying, hey, guys, I just did this thing No, taken many years to thought. it\u2019d be like talking to me. You know, like, how do you make Janet Jackson\u2019s voice on that? good for 30,000 people. Yeah, sure.<br \/>\n42:56<br \/>\nExactly, right exactly, Yeah, that myself I know how to do that, especially when she\u2019s 40 and stuff. So is my my I\u2019m supposing is this correct? I can get an LLC started let\u2019s say I\u2019m going to do Wyoming because I hear they\u2019re doing all kinds of cool crypto allows there.<br \/>\n43:17<br \/>\nAnd I know that they have, um, anonymous filing possible, and that kind of stuff. So, I set up an LLC in Wyoming, and I just start putting any income that I have, coming in into that bank account that I\u2019m gonna open for that LLC.<br \/>\n43:33<br \/>\nYou could do that way. You could say, yeah, then.<br \/>\n43:36<br \/>\nthe laws are good, they\u2019re stuck, you\u2019d have to go through litigation to get the benefits of the laws, and hopefully you won\u2019t need it right now. Right.<br \/>\n43:45<br \/>\nAnd then next year, when I\u2019m ready to take Kryptos, those could also come, because let\u2019s just say I\u2019m gonna keep that LLC just for income.<br \/>\n43:53<br \/>\nAnd then I\u2019ll start a new LLC maybe in the state where I spend most of my time and have that company maybe like charge backs, the company was all the income on my monthly expenses. And Francis: Sure.<br \/>\n44:07<br \/>\nYeah. Yeah, There\u2019s all kinds of ways to use them. Exactly. My first effort is to try to remove the thing that my client cares about out of his estate.<br \/>\n44:16<br \/>\nBecause if I can do that, then he, if he lands, he follows a couple of principles.<br \/>\n44:20<br \/>\nIf he has a problem like a claim someone sues them or something like that, years down the road, they won\u2019t reach into that company, It\u2019ll be protected.<br \/>\n44:27<br \/>\nAnd I really, it\u2019s funny because people call me and they have all these debt situations, and when I\u2019m done working with them within the year, their debt situation looks even worse. But they\u2019re actually more solvent than when they came to me. It\u2019s just on paper. They look like they\u2019re totally washed out. Yeah, you got read on one side, and on the other side, they might both get bigger.<br \/>\n44:47<br \/>\nThat doesn\u2019t mean that\u2019s worst.<br \/>\n44:48<br \/>\nYeah, so, I remove everything of value to a thing that they control, and nobody can touch it? Well, that\u2019s my intention, as well. I haven\u2019t taken the trust us at the Bitcoin Academy. But, I have my primary residence or vacation home.<br \/>\n45:04<br \/>\nAnd the property next door to the vacation home has just become available, and so I\u2019m hoping I can take crypto profits next year and by that extra piece of property, and at that point, have a trust set up where I could move all of my real estate into one or separate trusts for each piece of real estate agent.<br \/>\n45:22<br \/>\nMakes sense?<br \/>\n45:23<br \/>\nGood plan, right?<br \/>\n45:25<br \/>\nYeah, wow, OK. I really appreciate that. Thanks for the questions. All right. All right, go to the next one here.<br \/>\n45:32<br \/>\nI\u2019ll see AKA, John, can, I have a question.<br \/>\n45:38<br \/>\nSo, you\u2019ve helped us set up our LLC, and I\u2019m understanding that we\u2019re not going to file, and we\u2019re also wanting to buy a home, and one of the things that my husband and I realized, is as we\u2019re both self-employed and as we\u2019re talking to mortgage brokers?<br \/>\n45:57<br \/>\nMaybe?<br \/>\n45:59<br \/>\nYes, OK.<br \/>\n46:02<br \/>\nI\u2019ll just keep talking. Let me know if you can\u2019t hear me. And so one of the things we\u2019re finding is that they\u2019re wanting our, you know, a self-employed people, they\u2019re wanting our tax returns for the last couple of years, numbers.<br \/>\n46:12<br \/>\nAnd so, we are wondering, if we were to buy for next year, and we were to transition everything into this new LLC and not file, then how does that work? I feel like we\u2019re missing something, or your company doesn\u2019t file, but you would, you would just claim whatever personal use of the money you\u2019re making.<br \/>\n46:31<br \/>\nSo, if the company makes $2 million, you probably only need $8000 to pay your living expenses, and that would be on your 10 40.<br \/>\n46:40<br \/>\nI see, OK?<br \/>\n46:42<br \/>\nJust like you can\u2019t get a job somewhere, and the company is paying your salary, who cares what the company does?<br \/>\n46:47<br \/>\nThe bank only cares what you do, OK?<br \/>\n46:50<br \/>\nBut what we would pay ourselves would be pretty low, and so then what we\u2019d be qualified for the mortgage would be pretty low, then. Right, OK.<br \/>\n47:02<br \/>\nYou still have to show income. There has to be regular income, and the credit goes with that. So, the banks really want to see money in your name and so I\u2019ve had it, I don\u2019t do traditional mortgages when I do things. I negotiate other ways, but I get a balance sheet on my company, and I have different ones, I use, But I, if I take cash flow from a company, I will just get a bank statement like the last three bank statements from my company. And then, I will get an accounting statement on that and use that in the lending process.<br \/>\n47:32<br \/>\nAnd they\u2019ll always ask, Well, how, how is this your money? And I have to show some connection, OK? So there is one way to do it. So I\u2019m not exactly sure you\u2019re gonna have to ask, maybe, your broker, or whoever you\u2019re working with, what they wanna see. I don\u2019t know that you have to pay yourself a lot more money to get qualified.<br \/>\n47:50<br \/>\nI wouldn\u2019t suggest do that just to get qualified.<br \/>\n47:52<br \/>\nThere\u2019s got to be some like, for example, you could do like this.<br \/>\n47:56<br \/>\nInstead of paying yourself the money, what you could do is take that same money and make it a larger down payment, and yeah, I have some debt on the property.<br \/>\n48:05<br \/>\nYeah.<br \/>\n48:05<br \/>\nSo there\u2019s all kinds of ways to work it OK.<br \/>\n48:10<br \/>\nAll right. Thank you, OK.<br \/>\n48:14<br \/>\nRight, and then there\u2019s Danyelle.<br \/>\n48:18<br \/>\nHey, John. How are you? Can you hear me? Yes. Excellent. All right. First off. Thank you for everything you\u2019ve done.<br \/>\n48:25<br \/>\nI\u2019ve been here for for a couple months, and I\u2019ve watched your basic videos over and over and over, and all your privacy and YouTube, and I highly recommend everyone to do it. It\u2019s phenomenal. Alright. So my quick questions to, um, um, I\u2019m trying to work in an LLC, I\u2019m still a little some trepidation of jumping right into it and doing it myself, before we have a 45 minute meeting in August. Will that meeting, will that be enough time 45 minutes for you to hold my hand and go through it, or, do I need to do a lot of work before, going to do a series of calls when people schedule with me, I can make it a series of calls, and sometimes I can, I can go for an hour and a half, it depends on my schedule. But we\u2019ll make the time whatever\u2019s needed to get you underway.<br \/>\n49:07<br \/>\nExcellent. Thank you. Any other question?<br \/>\n49:10<br \/>\nthree quick points, first one registered agent, is that my name, or do I make up a name Because I know I can make up an address in New Mexico, You could do anything you want, you can make up a name, you can use your name, I like to use the client\u2019s name unless you tell me otherwise, OK, gotcha. When I opened my bank account for my LLC, should it be at the same branch that I have an individual account on? Does it matter?<br \/>\n49:30<br \/>\nIf you\u2019d like that bank, yes, choose a bank for its services, OK, so that\u2019s great, OK. I\u2019ll let him know. Don\u2019t let them, Lincoln.<br \/>\n49:39<br \/>\nPersonal and business only.<br \/>\n49:41<br \/>\nOf course. Next. Last question. Is your basic video on opening an LLC? I think that was before Caleb and Brown. So you had mentioned a couple of your videos that you do something special for, Caleb. So I\u2019m afraid to get my LLC without putting something special in. OK. Well, it\u2019s required because of the way I write the contract, But you can actually just go register your company. You can have anybody raise your company, and then kill them, ramble: Open. Your account, That\u2019s not a problem. I just have special purpose when I\u2019m working with a client.<br \/>\n50:09<br \/>\nAnd so, aye, have to describe your relationship to the company a little bit differently. So, I might use a trust as the owner, depends on how we work it out, or you might have another member, two people.<br \/>\n50:21<br \/>\nAnd so, I write up the, there\u2019s something called a Banking Resolution and the Certificate of Beneficial Interests.<br \/>\n50:27<br \/>\nThose documents, I have to write up a certain way to describe what I\u2019ve done, so that you don\u2019t have to, like, describe it. It\u2019s already done. But no. You could just get any company and open an account there at \u2026 Brown. And then if for some reason there\u2019s a problem with it, like maybe you don\u2019t like it creates, Let\u2019s say, creates a liability of some kind that we want to get rid of the way we can modify the articles, and the operating got it.<br \/>\n50:48<br \/>\nYeah, great, so that makes sense. That was one thing.<br \/>\n50:51<br \/>\nHold me back I\u2019m trying to get some stuff done so when I do At my time with you, I\u2019m not wasting your time, either. Yeah, Sure. Understand? Millimeter. Alright. Thank you very much. Thanks, Danielle.<br \/>\n51:04<br \/>\nAll right, guys. Well, thanks so much. I think we got them all. Appreciate everyone\u2019s participation. I hope this was beneficial.<br \/>\n51:11<br \/>\nY\u2019all have a good night.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5c2847e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c2847e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dcdbb9f\" data-id=\"dcdbb9f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a763b04 elementor-widget elementor-widget-spacer\" data-id=\"a763b04\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-53ea62e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"53ea62e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9964144\" data-id=\"9964144\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d36884 elementor-widget elementor-widget-text-editor\" data-id=\"6d36884\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Summary<\/strong><\/p><p style=\"padding-left: 40px;\">1. John Jay emphasizes that privacy is a property right and we should be outraged at the required surrender of privacy, especially regarding financial information.<br \/>2. He suggests the banking system has manipulated privacy to its advantage, thereby exploiting individual data for dubious purposes. <br \/>3. Jay contends that blockchain and other digital technologies could be employed to enhance privacy, security, and efficiency.<br \/>4. He notes that identifying yourself as an asset owner does not create a tax liability, and promotes strategies that protect privacy and rights.<br \/>5. Jay also discusses receivership or bankruptcy, which he sees as a business of the trustee, exploiting petitioners for personal financial gain.<br \/>6. He delves into the historical background of bankruptcy, linking it to FDR&#8217;s New Deal, which he argues was essentially a bailout plan for bankers.<br \/>7. Jay also explains that receivership restricts access to and control over one&#8217;s own money, making it crucial to maintain privacy and control over one&#8217;s assets.<br \/>8. He talks about investment strategies for substantial amounts of capital, including investing in real assets, private credit, real estate, and private equity.<br \/>9. Jay advises against paying off mortgages early as it results in a negative net present value for the cash used; instead, he encourages offsetting liabilities with other cash flows.<br \/>10. The conversation includes establishing a company to manage multiple sources of income, navigating debt, and planning for future financial stability.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1f9c753 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1f9c753\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7b3b5f0\" data-id=\"7b3b5f0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>U33- Privacy is a Property Right and Receivership is a Business<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/16673"}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=16673"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/16673\/revisions"}],"predecessor-version":[{"id":25345,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/16673\/revisions\/25345"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=16673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=16673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=16673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}