Note: just put aside all the shitcoin conversation and consider Bitcoin
Summary
The interview is a discussion about trusts, how they operate, and their benefits in creating privacy and separating from the public system. The key points covered include:
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Understanding the different 'rules' or levels of operation (public, private, creators)
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The principles of trusts - separating public and private, avoiding registration
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Types of trusts - statutory vs. private, revocable vs. irrevocable
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Using trusts to reclaim your legal identity and securities like birth certificates
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Structuring businesses and assets through trusts, LLCs, holding companies
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Opening bank accounts and crypto exchange accounts for trusts
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Challenges in setting up trusts like paperwork, banking interactions
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Mindset of commitment, seeing it as a journey of freedom and responsibility
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Using trusts for international business, potential citizenship benefits
Issues
The main issues discussed are:
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The public system coerces people into contracts and identity theft at birth
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Most people operate under the 'peasant' rules, not understanding higher levels of operation
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Statutory trusts created by lawyers are still registered in the public system
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Transferring accounts from your personal name to a trust is challenging
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Banks are often not 'trust-friendly' and deny accounts for irrevocable trusts
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Crypto exchanges require extensive verification for institutional trust accounts
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Finding and trusting trustees who won't misuse trust accounts
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Maintaining commitment for the long journey of setting up trusts properly
Solution
The solutions, suggestions and proposals mentioned include:
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Creating private, non-statutory trusts to separate from the public system
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Reclaiming your legal identity by holding your securities like birth certificate in trust
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Structuring businesses through trusts owning LLCs/holding companies, not directly
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Opening bank accounts for trusts by giving minimum info and letting bank request more
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For crypto exchanges, say you're retired/unemployed to simplify verification
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Use notaries to submit trust paperwork when you face rejections
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Have separate trusts for different purposes, diversifying assets
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Turn trusts into NFTs on blockchain for more privacy and international status
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Build a worldwide network of trustees in different countries
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Study the principles and processes extensively before attempting
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Maintain patience, commitment and take it as a journey of freedom
Q&A
Q: How do we decide between revocable and irrevocable trusts?
A: Revocable means it can be changed, irrevocable means it cannot be changed. Choose based on whether you want ability to modify the trust contract.
Q: If I create a trust and get an EIN number, am I mixing public and private?
A: Yes, getting an EIN number registers the trust in the public system which defeats the purpose of privacy. Avoid getting EINs for private trusts.
Q: For example with cell phones, are they operated through an LLC managed by the trust?
A: Yes, the cell phone would be owned by an LLC, and the LLC is owned/managed by the trust to maintain separation.
Q: How would we approach the status correction or secured party process?
A: Create a common law copyright and post public notice, such as on social media. This helps claim ownership of your name and securities.
Q: If someone wants to learn more from you, how can they get involved?
A: They can join the Galactic Network community which has monthly memberships and more advanced groups focused on trusts, credit, crypto and peer networking.
Action items
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Study trust principles and processes extensively, at least 7 times
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Read example trust declarations thoroughly to understand the structure
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Set up separate trusts for different purposes - assets, businesses, securities
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Open bank accounts for trusts by providing minimum info initially
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For crypto exchanges, say you're retired/unemployed to simplify verification
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Get a bank statement showing proof of funds before opening institutional crypto accounts
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Withdraw crypto off exchanges into private wallets for security
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Build relationships to find potential trustees you can trust
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Consider turning trusts into NFTs on blockchain for more privacy
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Explore international business opportunities by hiring trustees globally