August 22, 2013
Spoleto, Italy
One of the really
great things about being in Italy is that this whole country serves as a
constant reminder that wealth and power in the world are constantly
shifting.
Two thousand years
ago, Italy (Rome specifically) was the pinnacle of civilization, at the
forefront of medicine, art, technology, commerce, and military tactics.
You can still see so
much of this today; Italy is full of monuments and ancient public works
that are still in amazing condition to this day. They put so much care
and attention into their craftsmanship, they clearly designed to very
high standards and built everything to last.
Everything, of
course, except for their political and economic system.
In its later Empire
years, totalitarian control of everything-- the military, finances, money
supply, commercial code, etc. fell to a very tiny elite... in most cases,
one man.
And as one Emperor
after another bankrupted the treasury through foreign wars, palatial
opulence, and unaffordable social welfare programs, Rome gradually
changed for the worse.
Desperate to keep the
party going, later Emperors debased the currency to the point of
hyperinflation. They imposed wage and price controls under penalty of
death. They raised taxes so punitively that people simply quit working
altogether.
With each successive
emperor, Romans would foolishly believe that the 'new guy will be
different' and that things would improve. Of course, apart from the
occasional sage, Rome's political leadership became more destructive.
By the time foreign
barbarians began invading Italian territory, Roman citizens were so fed
up that many of them welcomed the marauding hordes with open arms.
What was left of Rome
officially fell in 476. But by that time, wealth and power had already
shifted.
For more than 1,000
years, other kingdoms and empires assumed the role of the world's
economic and political superpower-- from China's Tang Dynasty to the
Mongolians to the Ottoman Empire.
Eventually, though,
wealth and power shifted back West... to Italy once again. Venice
flourished and became the leading power center in Europe.
Its recipe for
success was quite simple: at a time when the vast majority of human
beings barely eked out an existence under the feudal system, Venice
enshrined economic freedom.
In Venice, people who
were born with absolutely nothing could become fabulously wealthy with
enough hard work, risk taking, and a little bit of luck.
It sounds a bit like
the American Dream... nearly 1,000 years ago.
It was under this
freedom that modern banking was invented in the 12th century. Foreign
exchange contracts. The bond market. All of this came from Venice.
And just as with
Rome, the monuments and buildings erected during this period still stand,
a testament to the strength of their civilization.
Of course, they
eventually screwed it up.
In the early 1300s,
the ruling elite eliminated the economic freedom that had made enriched
so many people. The government also began charging exorbitant taxes and
nationalizing trade routes.
A police force was
introduced in 1310 for the first time ever... not to protect the people from
criminals, but to protect the government from the people. And Venice soon
faded into obscurity.
Other cities in
Italy-- Florence, Genoa, etc. soon had their time in the sun as well. But
power and wealth eventually shifted from Italy to the Habsburg Empire,
then the French Bourbon monarchy, the British Empire, and ultimately to
the United States.
This is a very
familiar and inevitable cycle that has repeated throughout history... and
at least twice in Italy. Wealth and power always shifts.
This is happening
right now in the West. The US and Western Europe are getting
progressively weaker-- more indebted, and less free.
This isn't something
that happens overnight... it's a long, gradual shift that has already
been unfolding for decades. But it's Venice and Rome all over again. And
the current is accelerating.
Coupled with the
decline of the central bank-controlled fiat system, this is likely to be
the biggest story in modern history.
The warning signs are
all there-- it's almost like having a time machine and being able to go
back to 14th century Italy.
Imagine being able to
travel back in time and arrange your business, your portfolio, and your
assets, knowing exactly how things would unfold.
We have that opportunity
now. And depending on how far in front of this trend you are, it could
really make all the difference between being a victim, barely surviving,
or building generational wealth for your family.
Where is the best place to bank in the world?
This is the most common
question that Sovereign
Man: Confidential members have. Followed by "Where should I establish
residency and move to?" The answers of course depend
on each specific situation, but in this month's issue we set ourselves a
monumental task of analyzing and identifying the best set of options that
would suit just about anybody.
This month's seminal issue of
SMC includes:
- A detailed analysis of respective banking systems
of selected jurisdictions.
We look at things like central bank capitalization, central
government debt levels, commercial bank capitalization, and
commercial bank liquidity.
- All this is broken down to identify which is the safest bank and the
safest currency in the world, which jurisdictions
are best
for corporate banking, where the risk and reward
ratios are favorable etc. Everything summarized for you in a user-friendly cheat
sheet.
- The best residency and immigration options in the
world. Find out which are the
two best places to establish residency with a view of obtaining a
second passport-- without the need of actually moving there.
- What are the best and easiest passports to
acquire if you actually want to uproot your life and move to a new
place. All in a systematic overview, designed to give you a direction immediately.
- A boots
on the ground account from Iceland. The country was
the first victim of the financial collapse of 2008. It's still in a
very poor state, with a default and a significant restructuring
inevitable.
- But it also has a lot going for it. That's why I'm so excited about it's
potential once it's forced to pull out all the stops
and attract foreign capital. The
opportunities for those prepared will be immense. It
should definitely be on your radar.
- An extended set of questions, ranging from what
to look for when setting up an offshore corporate bank account
to the best
deals for farmland in the world right now.
To get immediate access to the knowledge contained
within this month's issue, and all the back issues, click
here to get the full details on your invitation to join Sovereign
Man: Confidential today.
Follow Sovereign Man
|
No comments:
Post a Comment