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Unknown A
Let's get to the golden Visa. I felt compelled to weigh on this. I did not realize that Ryan and Emily were gonna be so supportive of what I think is such a trash program. So let's go ahead and play Trump's words first about how this is all gonna work, and then I will give you some analysis. Let's take a listen. Does this reflect a view on your part that the American immigration system has never been properly monetized as you feel it should be?
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Unknown B
Well, not so much monetized. It hasn't been properly run. I get calls from, as an example, companies where they want to hire the number one student at a school. Person comes from India, China, Japan, lots of different places, and they go to Harvard, the Wharton School of Finance, they go to Yale, they go to all great schools, and they graduate number one in their class. And they made job offers, but the offer is immediately rescinded because you have no idea whether or not that person can stay in the country. I want to be able to have that person stay in the country. These companies can go and buy a gold card and they can use it as a matter of recruitment. At the same time, the company is using that money to pay down debt. We''re going to pay down a lot of debt with that.
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Unknown B
And I think the gold card is going to be used by, not only for that, they'll be used by companies. I mean, I could see Apple. I've spoken with Tim Cook, and by the way, he's going to make a $500 billion investment in the, in the country only because of the results of the election. And I will tell you, the people that can pay 5 million, they're going to create jobs. They're going to spend a lot of money on jobs. They're going to have to pay taxes on that too. So they're going to be hiring people, they're going to be bringing people in and companies in.
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Unknown A
Okay, so let me just go off on this a little bit. So let me give you guys a list to the company. The countries that currently have so called golden visas. This is not a novel idea. It already exists across Europe and most Caribbean nations. So we've got Portugal, Spain, Greece, Malta, Cyprus, Ireland, Italy. We have St. Kitts and Nevit, Dominica, Granaada, Antigua, Barbuda, Lucia. And then there are a few other countries, kind of like in America, where we have something called investment programs, and others in Australia, New Zealand, in Singapore as well. Now, what do all of these countries have in common? They are either failing European nations with massively high unemployment rate which are selling access to Russian oligarchs and or rich businessmen across the world to the Schengen area and to the protection of the European Union. Or they are tiny little Caribbean nations which are basically selling citizenship for tax haven purposesosedly used by crypto people and or others who wanna escape the grid.
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Unknown A
Now why would you auction off the most powerful passport in the world for $5 million to a global elite class whose only purpose of buying the so called Golden Visa would be to use the United States as a tax haven for their ill gotten gains and or to launder money in our country. Now maybe you could justify that, but we already have a massive problem here of specifically these types of global individuals who rape their country's economies. Bring it here for what purpose? To park money in the world's greatest and safest economy. So let me give you guys some figures. In Miami today, 20 to 25% of Miami's real estate market is owned by foreign nationals. In New York City it's 10 to 15% of the overall market. In Los Angeles it's 5 to 10%. In luxury areas it's actually more like 15 to 20%.
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Unknown A
All of these specifically by the types of shady characters that we don't want in our country. So this is part of the problem that we have in terms of our amazing cities. Places like San Diego, Los Angeles, Miami, New York City, places Americans maybe should be allowed to live are dominantly driven, especially at the luxury level by these filthy rich foreign nationals. It's not fair both to the Americans who make this country and or hold this citizenship. But worse, the type of person who buys the Golden Visa is the exact opposite of like who you would want. And it also perverts the idea of citizenship itself. Citizenship is not supposed to be bought and sold like an auctioneer's passport. The purpose of a citizen is to have obligation to the country, not just to look at it as some sort of tax purpose. Now if the Caribbean nations and all thatnna do that, fine, that you guys gotta make money somehow.
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Unknown A
We are the world's richest and most powerful nations. So that's my long screed. The Golden Visa is a preposterous and stupid idea. The current investment visa is plenty fine because it actually requires business investment which would allow job creation and all that to happen. That's the way that Australia and a few other countries do it. But even then again I have seen this program so perverted by the ultra rich like oligarch class. And in America, if we're gonna sell our passport. This is my final thing. We need a much bigger number than five do. It needs to be like 100 million. And that needs to have a proven track record of actually going to its citizens. And they shouldn't be allowed to buy up a shit ton of real estate. So that's the end of my long runnt. I just think it's disaster. It will massively if this were to go into effect.
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Unknown A
Can you imagine the real estate markets in Los Angeles, in Chicago, in Miami, here in Washington D.C. what do you think these people are gonna do? American real estate is the gold standard market of the world. That's why they already park their cash here through all these shady LLCs. We don't need your money. We don't need you at all. You guys can stay in Cyprus or wherever the hell you're from.
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Unknown C
Yeah, I mean this another, this is like sort of an extractive parasite class of global elites. And to your point, I'll just add this. In Spain, they actually rolled back their Golden Visa program which was initially put into place in like 2013. And the reason that it became really unpopular and they rolled it back is because of exactly what you said it was associated with criminality and money laundering. And it helped you drive up the already high prices of housing in major cities. So I mean, this has already been somewhat of a problem in places like Miami and New York where so many of the condos are just permanently vacant because they're owned by these various oligarch like billionaires from around the world who are never there. So it really does sort of strip the vitality out of communities. It drives housing prices up and encourages and facilitates illegal activity. So not a great direction.
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Unknown A
Yeah, I just can't stand it. You. I was thinking about it. Now. I'm not saying everybody should be able to retire or whatever, but in the most beautiful place in America, I acknowledge supply and demand. But when you look at at the crown jewel places in the United States, places like La Jola in San Diego, and the average home price is like $7 million. You're like, okay, so who the fuck are you? It's like. And you start digging into itah and you're like, oh, so a bunch of Saudis own this, this and this same thing in Beverly Hills. They literally make a joke about it over there, about all the people there are from Saudi Arabia or are foreign nationals who'd use it as some sort of plaything. Do you think it should be a plaything? My modest ask is it should be a Plaything, at least of American entrepreneurs.
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Unknown A
Okay. And not necessarily of the global elite class. We basically. Same with Miami. Miami. I think it's a cool place. Wouldn't wanna live there, but it's nice. Should it really just be the playground of South American criminals and or like oligarchs who are afraid that the Argentinian or Brazilian government could fallall and seize their money at any time? No, it's not right. And then people, what happens? You start to get pushed out more and more and more and your city just becomes like a haven, an extractive place where people drive in from the burbs to serve some Chilean oligarch. It's like, that's not how America not a real cityore. It's not a real city, has no character or. Or becomes like ultra segregated and some sort. What's that movie I'm thinging of the Matt Damon Elysium Elium. It becomes some sort of Elysium type place.
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Unknown A
That's already the case in my opinion, for all of American. They are completely unaccessible to even people in the top 5%, let alone the top 2% of wealth. It's outrageous. So that's my modest proposal is America should be a place that Americans can afford and or have like somewhat aspirations to Beverly Hills, San Diego, all these other places. Good luck. You know, it's not gonna happen. You can be filthy rich and you're still competing against some Saudi prince. I just don't think it's right. And that's the problem I have with this Golden Visa program. And as you said, a lot of the places I'IMPLEMENTED them, they hate the type of people that end up buying this place.
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Unknown C
Portugal hasn't likeed it either. The EU is really discouraging it because.
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Unknown A
Right, because you're selling access to the European Union.
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Unknown C
I mean, you're just basically selling out your country. And then it also has not raised that Trump's o it's gonna raise trillion. No, it's not. That has also not in any of the countries that I've tried it whatsoever.
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Unknown A
So I don't need some Russian oligarch or whatever coming over here and buying even more property in Williamsburg or in Tribeca or Manhattan. Those places are plenty expensive as it is anyway. All right, so that my rant is over. Screw the Golden Visa. We don't need it. You guys can stay wherever you are. Hey, if you like that video, hit the like button or leave a comment below. It really helps get the show to more people.
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Unknown C
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Unknown A
That'S right, get the full show helps support the future independent media@breakingpoints.com.