What I’m about to tell you is a true story.
And by the end of it, I hope it will be pretty clear that we’ve been programmed to put far, far too much trust in the banking system.
We’re told that banks are supposedly “risk free”.
Michael Mauboussin: Challenges and Opportunities in Active Management And Using BAIT #MICUS
Michael Mauboussin's notes from his presentation at the 2020 Morningstar Investment Conference, held on September 16th and 17th. Q2 2020 hedge fund letters, conferences and more Michael Mauboussin: Challenges and Opportunities in Active Management Michael Mauboussin is Head of Consilient Research at Counterpoint Global in New York. Previously, he was Director of Research BlueMountain Capital, Read More
And yet every scrap of publicly available evidence shows that banks take every opportunity to prove that they cannot be trusted with other people’s money.
They have been caught colluding to fix interest rates, exchange rates, and commodities prices to the detriment of their own customers.
They make insanely stupid bets with their depositors’ savings… and then when the bets go wrong, they go to the taxpayer with hat in hand claiming that they’re too important to go bust.
But most importantly, as my story will show you, they act with a sanctimonious sense of self-entitlement… that it’s no longer YOUR money in the bank. It’s their money.
And they’re going to do whatever they damn well please with it.
Take a listen in today’s podcast… the first I’ve put out in a very long five months.
Do you have a Plan B?
If you live, work, bank, invest, own a business, and hold your assets all in just one country, you are putting all of your eggs in one basket.
You’re making a high-stakes bet that everything is going to be ok in that one country — forever.
All it would take is for the economy to tank, a natural disaster to hit, or the political system to go into turmoil and you could lose everything—your money, your assets, and possibly even your freedom.
Luckily, there are a number of simple, logical steps you can take to protect yourself from these obvious risks:
No Brainer Strategies to Ensure You Thrive No Matter What Happens Next
- Invest outside the mainstream and make 12% with minimal risk
- Protect your assets and become invincible to financial crisis and frivolous lawsuits
- Legally slash your tax bill up to $1.2 million each year
- Obtain a valuable second passport… for free
Learn about these and many more strategies in our free Perfect Plan B Guide.