How To Survive The End Of The World: Extra Passports, Foreign Bank Accounts, & More w/ Flag Theory Expert Edmund John
UPDATE August 16th, 2018: Please note that this episode is intended for educational purposes only. Nothing in the episode is to be construed as an endorsement or recommendation of Flag Theory, their services, or the tax planning solutions they propose. You assume all responsibility for any tax planning or legal structures you may create. Obey the law, and do your research!
Today, we are joined by Edmund John, founder and CEO of Flag Theory… Flag Theory is a company that specializes in, well… turning people into Jason Bourne. International bank accounts, offshore corporations, multiple passports… you name it.
This episode reflects my ongoing curiosity around and passion for disaster planning. What happens when economies collapse? When countries go to war? I don’t know about you, but I want to be prepared, just in case.
In this episode, we talk about everything from weathering political instability to legally avoiding taxes and everything in between. Though you might think you need to be a multimillionaire to worry about this kind of stuff, but as Edmund explained, you really don’t… In fact, after meeting Edmund and his team a month or so ago, I promptly signed up for their services and started protecting myself.
Just a quick heads up and disclaimer. I do use and do recommend Flag Theory and their services, but it’s important that you know that I earn a small commission if any of you guys choose to work with them. It’s also important that you understand that nothing in this episode constitutes financial or investment advice, so, even though I’m now protected by redundant corporate entities in two countries… please don’t sue me!
In this episode, we discuss:
- How did Edmund John become interested in and start a business involving “Flag Theory” and asset protection?
- What exactly is “Flag Theory,” what are the 5-7 “Flags,” and why is it important?
- How can you legally avoid paying taxes, even if you're an American citizen?
- Is this for anyone? Should “normal” people look into flag theory?
- Edmund walks us through a typical strategy and explains how this whole thing works
- What is the “Foreign Earned Income Exclusion,” and how can it save you tens of thousands of dollars?
- How do Apple and Google save hundreds of millions in taxes? Can you do the same thing?
- A discussion about the ethics of renouncing citizenships
- Why else might you want to set up this type of structure? What are the benefits?
- What are the benefits of having multiple passports? Can and should you pursue it?
- Why might it be unsafe to store your money the way you're currently storing it?
- What are the signs that we are gearing up for a very scary decade ahead?
- What does it cost to set all of this stuff up?
- How much information does the US government have on your finances worldwide?
- What books have most impacted Edmund John?
- What's the best $100 Edmund John has EVER spent?
Resources Mentioned in This Episode:
- Flag Theory (IMPORTANT NOTE: We no longer are able to recommend Flag Theory, due to a negative experience by one of our listeners.)
- Emergency by Neil Strauss (Highly recommended!)
- Think and Grow Rich by Napoleon Hill
- Michael Lewis' books, especially Moneyball and The Big Short