How to Operate a Business in the Private with Trust
506 sats \ 0 comments \ @mo 30 Oct AGORA
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:
  • Understanding the different 'rules' or levels of operation (public, private, creators)
  • The principles of trusts - separating public and private, avoiding registration
  • Types of trusts - statutory vs. private, revocable vs. irrevocable
  • Using trusts to reclaim your legal identity and securities like birth certificates
  • Structuring businesses and assets through trusts, LLCs, holding companies
  • Opening bank accounts and crypto exchange accounts for trusts
  • Challenges in setting up trusts like paperwork, banking interactions
  • Mindset of commitment, seeing it as a journey of freedom and responsibility
  • Using trusts for international business, potential citizenship benefits

Issues

The main issues discussed are:
  • The public system coerces people into contracts and identity theft at birth
  • Most people operate under the 'peasant' rules, not understanding higher levels of operation
  • Statutory trusts created by lawyers are still registered in the public system
  • Transferring accounts from your personal name to a trust is challenging
  • Banks are often not 'trust-friendly' and deny accounts for irrevocable trusts
  • Crypto exchanges require extensive verification for institutional trust accounts
  • Finding and trusting trustees who won't misuse trust accounts
  • Maintaining commitment for the long journey of setting up trusts properly

Solution

The solutions, suggestions and proposals mentioned include:
  • Creating private, non-statutory trusts to separate from the public system
  • Reclaiming your legal identity by holding your securities like birth certificate in trust
  • Structuring businesses through trusts owning LLCs/holding companies, not directly
  • Opening bank accounts for trusts by giving minimum info and letting bank request more
  • For crypto exchanges, say you're retired/unemployed to simplify verification
  • Use notaries to submit trust paperwork when you face rejections
  • Have separate trusts for different purposes, diversifying assets
  • Turn trusts into NFTs on blockchain for more privacy and international status
  • Build a worldwide network of trustees in different countries
  • Study the principles and processes extensively before attempting
  • 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

  • Study trust principles and processes extensively, at least 7 times
  • Read example trust declarations thoroughly to understand the structure
  • Set up separate trusts for different purposes - assets, businesses, securities
  • Open bank accounts for trusts by providing minimum info initially
  • For crypto exchanges, say you're retired/unemployed to simplify verification
  • Get a bank statement showing proof of funds before opening institutional crypto accounts
  • Withdraw crypto off exchanges into private wallets for security
  • Build relationships to find potential trustees you can trust
  • Consider turning trusts into NFTs on blockchain for more privacy
  • Explore international business opportunities by hiring trustees globally
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