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How & Why the EU Can Confiscate Your Wealth If You Can’t Explain It

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F****ckkkkkkkkkkkkkkkkkkk.

So, now I have to get clarification of what OKX deems EEA/EU....

Taking into‍ account whether they deem Monaco

or CH

or the UK...

...part of the EEA even⁠ though they are NOT officially! stupi#21

Thanks for sharing this. I have to jump on this⁤ right away!

PS. To those untrained with how "others" classify outside their area of knowledge⁣ and competence.... I've seen COUNTRIES (shitty ones, of course) classify a TRUCK as a sports⁢ car in order to levy extra import duties even though the manufacturer and its engineers︀ testify it is a TRUCK and NOT a sports car. The people classifying the TRUCK︁ as a sports car barely had a high school education, let alone being engineers...but they︂ had weapons ... and plenty of guns and they outnumbered my clients 😡

@JohnnyDoe and @wellington

How would you tackle this issue if you were in Monaco and Zug, CH (assuming︃ OKX would ignorantly categorize the whole continent as EU)? 🙄
 
id assume the whole continent of eu︅ is pretty much doomed until deep reforms and deregs take place. To my distaste and︆ big fears, this seems far away as most people will call for deep socialist rules︇ before that is going to happen.

id address it with: "habibi come to dubai "or︈ somewhere else outside eu.
😉
 
You know, sometimes‍ it really makes you think about how ridiculous things can get, or how the powers⁠ that be reckon we'll just buy anything they're selling. But, honestly, it seems like a⁤ good 90% of folks don't bother looking into stuff any further and just gobble up⁣ whatever the news and the government feed them, no questions asked.
 
It gets even better



https://twitter.com/x/status/1770853127798861868

------ QUOTE ------

The anonymity of crypto-assets exposes them to‌ risks of misuse for criminal
purposes. Anonymous crypto-asset accounts as well as other anonymising
instruments, do not allow the traceability of crypto-asset transfers, whilst also
making it difficult to identify‍ linked transactions that may raise suspicion or to apply
to adequate level of customer due⁠ diligence. In order to ensure effective application
of AML/CFT requirements to crypto-assets, it is necessary⁤ to prohibit the provision
and the custody of anonymous crypto-asset accounts or accounts allowing for⁣
the anonymisation or the increased obfuscation of transactions by crypto-asset
service providers, including through anonymity-enhancing⁢ coins.
The prohibition does not apply to providers of hardware and software or providers
of self-hosted wallets insofar as they do not possess access to or control over
those crypto-assets︀ wallets .

------ QUOTE ------

Source P.104, https://www.europarl.europa.eu/meetdocs/2014_2019/plmrep/COMMITTEES/CJ12/AG/2024/03-19/1297044EN.pdf via EU cash cap and ban on︁ anonymous crypto payments results in financial paternalism
 
i fear‌ at one point people control must be enacted to stop the brain drain.
I have‍ some hope however ursulas socialist paradise will be more like venezuela where at least people⁠ could/can leave and not the north korean version.
 
I used to think this‌ too...until a long-time Chinese supplier in Chang Chun, Ji lin Province, took me on a‍ trip to North Korea... That sh1t was WILD AF! I only went because I trusted⁠ the supplier with my life, as he trusted me with his. NGL, I was scared⁤ sh1tless! rof/% This was much before Dennis Rodman went to North Korea 😳

It's NOTHING like the⁣ <<<media>>> "reports."

There are tens of thousands of North Korean cross-border workers/commuters in Russia and⁢ China. 😉 Which is insignificant compared to North Korea's population.

I learned so much from that︀ trip! I especially learned that "our people in their gang under the ruse of government︁ robbing us of 50% of the fruits of our labor" HATES us with a passion.︂ Nothing they say is true! NOTHING! There are NO exceptions! ca#"!

Chang Chun, Ji lin Province︃ April 2005

*** This specific supplier has been my lifeline for decades, even when the︄ founder was a scientist/employee for a multinational in the US. Both companies are still so︅ great today. My supplier has the best product in the market. It's trading on the︆ SZSE Component Index. These guys have retired me 100s of times. Not all heroes wear︇ capes.

What a time to be alive! hap¤#"

Furthermore, these guys (unrelated to my supplier) do︈ tours to North Korea: Can North Koreans Travel Abroad? , Young Pioneer Tours

PS. *NO*︉ - I did NOT even take a camera into North Korea. Not even a suitcase.︊ I didn't want to be "frisked" or have my mobile cloned or whatever the West's︋ indoctrination machine was able to "inculcate" in my feeble brain. smi(&% I am stupid but NOT︌ suicidal. smi(&%
Much to my chagrin, the people were cool AF, and nobody bothered me. The︍ food and service were outstanding. They would NOT even stamp my Western passport because they︎ told me I would be f*cked if Western governments and their vassal states found out️ I was in North Korea. Talk about freedom....Go figure... stupi#21

PSS. The girls in North Korea‌ were stunning...if you are into Asian girls. I am personally NOT into Asian girls!
 
I understood you the first time, twice! 😉

Thank you! smi(&%
 
interesting thing, didnt‌ know that. Never bothered to ponder the nk situation (bc its completely outside what i‍ need nor do) and im just paraphrasing "common knowledge". Seems like you really need to⁠ dig into every single topic.
 
So, let's say you've been playing by the rules, paying all your dues and taxes,‌ basically just doing what's expected in the whole welfare state setup we've got in so‍ many places, right? Then they can't just come in and grab your stuff, can they?⁠

I mean, I'm not sure how anyone weighed down by all those taxes could even⁤ start to pile up some cash or assets, but just imagine if, somehow, you did⁣ manage to do that. What happens then?
 
Just stick to keeping most of your funds in Bitcoin, the asset︀ that no one can confiscate from you, set a 12-24 secret recovery phrase - write︁ down and hide the words in several places. Your funds will be with you wherever︂ you go in the world and you will be able to leave them for your︃ future generations by preserving wealth over the time.
 
I wish I could call you out for lying, but sadly, I've been down⁤ that road with the tax folks myself. Everything was straight as an arrow, and yet,⁣ I ended up with a fine and had to cough up tax on something I⁢ should've gotten a deduction for. Crazy, right?
 
You are 100%‍ right! Everyone on OCT has probably gone through the same thing or knows someone who⁠ has. I saw Leona Hemsley get lambasted, and later, the IRS refunded her 1.6M,meaning they⁤ made a mistake,and she did prison time. Her crime? Saying, "Only the little people pay⁣ taxes."

Ohhhh...and get this....they buried that story (somewhere). I have a copy, but it is⁢ on an old computer. HELMSLEYS DUE TAX REFUND, DEFENSE SAYS (Published 1989) ***

The actual︀ court file where they refunded her the money was SEALED! Yes...you read that right...it was︁ SEALED. ca#"!

*** rof/% Yes, as an OCT member remarked on my TG: "Man, you are old︂ smi(&% "
 
why not, you'd be surprised?
they write the rules and⁤ interpret them as they want when you end up in court... the can bend them⁣ in any way they want.
I've seen it plenty of times in every major EU⁢ country.

I've seen entrepreneurs going to court for a punctuation error of the tax officer︀ that sent the letter... or for mistakenly putting one or more zeroes in the end...︁
they wanted to grab their houses... they didn't want to double check their papers, they︂ would not answer. They just started the countdown on you: 30 days to pay, else︃ take us to court or we send the bailiff 😵
and then spending xxxxx€ of lawyers︄ and living like s**t for years just to confirm it was a tax agency mistake.︅
Even if you win, the judge will never order the tax agency to refund your︆ lawyers fee in full cause they consider the amount you paid too much...
And they're︇ so bastards that they will find an old law not letting you use that money︈ as credit on next years tax return.
So it's just worthless paper: you won, you're︉ right, but they'll not give back your money easily, will not pay your lawyer in︊ full and you can't seize the money from the tax agency bank accounts...
but remember︋ how quickly they can seize yours!

It's not an equal fight. Try to avoid it.︌

ALSO, I was one that did all the things by the book.
One time︍ i had a flat to rent somewhere in EU.
A guy wanted it. I heard︎ he was a tax officer. So I had to register the rent and do all️ by the book. Paying the stamps and all the BS was requested at that time.‌
The whole street, and I mean every other rented flat in that street, was not‍ registered and nobody was paying taxes on rent.
Everyone knew it, included the tax officer⁠ that was living in mine. Do you think he cared? He minded his own business...⁤ heard they even joked at work about this.
My accountant did a mistake declaring that⁣ rental income in that year tax returns. The rent was registered correctly, it was added⁢ as income and so I paid taxes on that correctly, but he omitted it in︀ another section of the tax declaration (used for statistical reason not really for tax), I've︁ got no advantage from omitting that.
The law was not clear, they issued a directive︂ after, but the first ones all got shafted this way stupi#21

After a few years got︃ a letter telling me I was being fined because they considered omitting that statistical section︄ as a partial tax declaration, same as tax evasion, but I hadn't evaded a single︅ cent. stupi#21
So I still got a fine, not huge, not cheap.
The accountant said it︆ was way cheaper to pay the fine than pay his fees to start a case...︇ stupi#21
If I had not registered the rent, I wouldn't have to pay any taxes on︈ it, I would have got no fine as I wasn't on their register.
So in︉ some countries their employees are so lazy that they check only those that voluntarily added︊ themselves IN the system.
They don't go door to door to fine the ones that︋ aren't in their lists, also cause they would have to fine their relatives 😉.

sometime you have to ask if accountants are part of the system too (I know the︌ answer smi(&%)
 
They are in some way since they‍ make money of the stupid regulations governments dictate the average business owner.

This old grandpa⁠ is falling in sleep.
 
You are so right! I didn't‍ want to comment on this earlier because I have already mentioned lawyers being an "officer⁠ of the court" for decades, but a good rule of thumb is anyone who needs⁤ a license/authorization from the "government" to operate is a potential enemy of the people! Of⁣ course, there are exceptions, but they are few and far between.

Ditto!

PS. From a very young age,︀ +1 and above, the people around me (mom, dad, grandparents, etc) have always been at︁ least 30 years older than me. Even today, most people I personally know in the︂ physical world and do business with are older than me. It's impressive how one gains︃ real education, knowledge, and wisdom from life like this. What is taught in schools is︄ so far away from reality that it's mind-boggling!
 
I couldn't agree more with you. I've learned the most from⁢ hearing stories of people who've lived lives differently compared to the 'sheeple', not from sitting︀ in lecture halls. Their experiences have a richness that no amount of book learning can︁ match. Sadly, I fear this kind of knowledge will fade as more people blindly follow︂ their government's lead and narc on their fellow humans for thoughtcrimes.
 
I left the UK in 2010s

Would only visit annually to aid my grandmother with her‌ charity commitments

Don’t own property in the UK
Grandfather dead (2017)
Mother dead (2021)
Grandfather dead (2024)

Leaves

Father
Grandmother
Grandmother

Those are “connections”

Also three siblings
2 don’t talk‍ to (nothing really to discuss)
1 talk to about every few years

Under UK law⁠ it’s very hard therefore for the Government to get a grapple on the jurisdiction of⁤ me

1 real estate is outside of their jurisdiction
2 banking is outside of their⁣ jurisdiction and I don’t bank in pounds
3 children / wife non UK citizen (Kids⁢ can claim but UK gov are not informed till they want to claim and non-resident)︀

Circle of life is outside of their jurisdiction

- low touch points that are vague︁ and not enough to grapple.

Don’t do business in the UK, through the UK or︂ with the UK.

So for me it’s very simple I am not impacted

My only︃ connection to Europe is Switzerland - I pay a tax there and that’s that but︄ Swiss isn’t part of the EU and in addition a lot of connections with the︅ UK were severed when Brexit happened - for example my wife a Swiss tax payer︆ like myself (RE) would usually get a two year visa - the ambassador had to︇ authorize it last time as they would only give a visa based on the period︈ she intended to visit based on treaties being cancelled.

Same applies to data sharing etc︉

Then it comes to connection (mentally) - the UK for me has long discontinued to︊ be “home” I’d only visit for familial charity commitments otherwise had little interest in the︋ place.

Europe I enjoy but as I’ve gotten older I’ve also toned down my traveling︌ around Europe - and prefer just to visit historical sites and eat cake and drink︍ chocolate on the slopes - I’m more Asia focused and generally have holidays in East︎ Africa (Zanzibar/kenya/Tanzania etc) opposed to say Paris-Rome-Madrid

Basically I’ve gone anti west

And it wouldn’t️ take much for me to cease to being a British Subject - there’s no benefit‌ except visa free travel and as it stands no non resident tax.

On this Jafo most of my⁢ associates/friends are 30-40 yrs older

The youngest being 10 yrs
 
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