Join the "Offshore USD Economic Circle", are there any coupons to send?

Unfortunately not. However, it can also be called "putting money into your pocket".

You said that you understand every word of the "offshore dollar economic circle", but you don't understand it when you add it up? That being the case, let me take each word apart and add it to the interpretation.

Offshore: Asset Migration

Offshore, offshore, Google it, the explanation is:

made, situated, or registered abroad, especially in order to take advantage of lower taxes or costs or less stringent regulation.

When Offshore is applied to a company, it is an offshore company; when applied to a bank account, it is an offshore account. Offshoring is the system of choosing another country on the surface, in other words, "asset migration".

Some people use "capital stalking" to describe asset immigrants, giving people the illusion of being criminals and having shit. These people probably forgot that Hong Kong is an open economic system. As long as the assets themselves are obtained legally, it is up to the individual to store the account under the supervision of any country. In fact, most listed groups have offshore companies, and senior officials hold offshore assets (otherwise, there would be no sanctions). To describe offshore as "capitalist" is like "walker" to describe emigration. "Smuggling" to describe cross-border online shopping is unnecessarily ugly.

In the past, the concept of offshore was far from the general public, due to the cumbersome procedures, high fees and high requirements. For example, it takes about HK$10,000 to set up a BVI company, but less than 2,000 for a Hong Kong company. Another example is to open an offshore account with banks such as Standard Chartered, Citi, DBS, etc. Under normal circumstances, the minimum deposit amount ranges from 1 million to 7.8 million Hong Kong dollars. Even if you are rich, the procedures and waiting time may be annoying.

However, the development of technology has made it possible to download an app within five minutes and register an offshore account with an email address, with no handling fee and no minimum deposit amount. Coinbase, which I recommended to you several times earlier, is registered and listed in the United States and can store USD assets. It is an offshore account and an "offshore Payme".

Immigrating is a difficult decision, with only 0s and 1s, either bravely go out and build a new life in the field, or stay firmly and fight deep roots against uprooting. Asset immigration is different, 0 to 100 is free, as low as 0.01%, there is no need to give up the Hong Kong dollar, and there is no presupposition of any responsibility.

Take another 100 steps back and open an offshore account to experience it. It will be regarded as the "asset tourism" that cannot travel abroad, why not?

USD: The World Consensus

In the past, talking about the U.S. dollar or other fiat currencies was mainly based on "badmouthing", which may make people misunderstand that I am against the U.S. dollar and the Hong Kong dollar. That's not the case. If you don't believe me, try giving me $10,000 and see if I want it? I don't mind HK$10,000.

Instead of sings and opposes, I just point out that the dollar is not everything, it is not absolutely stable, and it is not a self-existent existence. I have always regarded cryptocurrencies such as Bitcoin and fiat currencies as a relationship of complementation - supplementation, "improvement", and there are still many possibilities in the world to be explored in addition to traditional currencies.

This time I advocate the use of the US dollar ( USDC ) because when the application scenario is daily life such as food, clothing, housing and transportation, the context is the asset of ordinary people, and the primary condition is simplicity and clarity. The coin used by the most consensus.

What's more, the predecessors cleverly established a linked exchange rate to link the Hong Kong dollar to the US dollar. The exchange rate of 1:7.8, which has been almost unchanged for many years, allows Hong Kong people and enterprises to travel between the Hong Kong dollar and the US dollar with confidence. Therefore, it is denominated in Hong Kong dollars, It is very simple to settle in US dollars without worrying about exchange rate changes.

Some people are worried that the Hong Kong dollar and the US dollar will eventually be decoupled. Ren Zhigang also "inadvertently" let loose a few months ago, saying that it is not recommended to decouple the Hong Kong dollar and the US dollar. , quite interesting.

If you never believe that the Hong Kong dollar and the US dollar will be decoupled, then holding the US dollar is like holding the Hong Kong dollar, and there is no exchange rate risk; but if you are like me, I believe that the decoupling of the Hong Kong dollar and the US dollar is a historical necessity. a guarantee.

Several factors add up to the reason for choosing the US dollar.

Economic Circle: Shared Values

Unlike the World Trade Organization, free-trade zones, etc., which are recognized by the United Nations or at the national level, there is no clear definition of "economic circle", and there is even no consistent translation. It is generally translated as economic circle ; Is a more authentic translation, but may not be specific enough.

In short, the general idea of the economic circle refers to the preferential transaction between members of a certain group. In the past, it was generally based on geography, such as the Pearl River Delta (not to mention the "Greater Bay Area", it feels very ancient), Greater New York, etc. In recent years, there have also been cross-geography, Concept-based economic circles, such as fair trade coffee beans, although not self-proclaimed as economic circles, are similar concepts.

Of course, the most familiar to Hong Kong people is the yellow economic circle that emerged in 2019. Although I would think that the "red economic circle" actually appeared earlier, and its scale is unknown several times, but its operation is relatively low-key. With the development of information and technology, the economic circle with democratic ideas and freedom beliefs as the core of the yellow economic circle has gradually become possible. There are many related civil activities, the most familiar ones, and the most widely spread are Punishment Mee , and You . Pay and other mobile apps.

The biggest obstacle to building a yellow economic circle is how to define and prove "yellow", a problem that even technology can't help very much. Relatively speaking, using offshore and US dollars as the "common value" of the economic circle is more objective and clear, and because of specific payment tools, it is expected to promote consumption within the circle.

Offshore dollar economic circle: protect personal assets and trade with fellow travelers

The offshore dollar economic circle is by no means a magnificent revolution, but it is a movement that everyone can participate in painlessly.

Metcalfe's law tells us that the value of the network is proportional to the square of the participants (n^2). Your participation in the offshore dollar economic circle does not mean just one more person.

"You don't participate because you see hope, but you see hope because you participate" is not just a loud slogan, but a mathematically proven truth.

I'm Reconstruction Gao , author of " Blockchain Sociology ", slash writing/teaching/entrepreneurship, exploring freedom of the press , financial freedom , and democratic freedom , published every Friday in #decentralizehk weekly.

These articles are fully open and aimed at popularizing knowledge; if you believe in value, don't punish openness and encourage closure, please pay for a subscription and support me to keep doing it.

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