How the Rich Spread Their Wealth

Diversify like the rich so your cash isn’t at risk. Were you forwarded this email? [Sign-up to Rude Awakening here.]( [Unsubscribe]( [The Rude Awakening] How the Rich Spread Their Wealth - If you’re concerned with the banks, there are many ways to minimize your risk. - But the best ways are the ways rich people employ to protect their wealth. - You can mimic the rich even if you have much smaller resources and capital. Recommended Link [Urgent for January 12th 2021]( [The Biggest Market Crash of the last 92 Years?]( [Click here for more...]( January 12th could mark the beginning of the biggest market crash of the last 92 years… Bigger than 2008, 1987, or even 1929. And according to one ex-government insider it all has to do with a number the Biden administration is lying about. Once this number hits the mainstream news it’s game over for America. [Click Here For More Details]( Typhoon Odette Update: We finally reached Sean via WhatsApp and were relieved to hear that he and his family are safe. Most of his hometown, Cebu, is still without power or water. Sean was writing the following message when a tree fell and took out the power lines to his house late Thursday night. Sean Ring Editor, Rude Awakening The wind is kicking up here in Cebu, so I write this edition of the Rude on a Thursday night. The lights are still on, so I better hurry! Today’s is a lighter Rude, and I hope a very simple one. Alas, simple is not always easy and convenient. Let’s get straight into it. The Question Rude reader Geoffrey H. wrote me this great question: Now that most banks have adopted "bail-in" rules for their used-to-be depositors, now-lenders, is it wise to spread deposits around multiple banks, have lower deposits in the banks, keep cash or gold or silver out of the banks or some combination? Or am I just an alarmist? PS I enjoy your work! Thank you, Geoffrey, and you are by no means an alarmist! Let me tell you about my time in Hong Kong. From Sales and Trading to Private Banking I spent the bulk of my banking career in the sales and trading division of an investment bank. That means I had hedge fund managers and other institutional money managers shouting down the phone at me all day. Not as glamorous as you think, trust me. But the intellectual caliber of the workforce there, amoral though they may be, is staggering. Almost everyone has a top degree - which used to mean much more to me than it does now - and is incredibly intense. So you can imagine my shock when I got to the private banking side, where relationship managers know almost nothing about the products they sell. Now I’m not claiming all investment bank traders and salespeople knew that a CDO3 was a really bad idea. Watch The Big Short for confirmation on that. But RMs are not known for their product knowledge. It’s all about the relationships with them. In Asia, the most important thing an RM can have with a client is guanxi. That’s the network and connections that create mutually beneficial business opportunities. From Investopedia: Guanxi is closely intertwined in the Confucian philosophy - a philosophy that has shaped many Asian cultures - that self is extended to family, friends, and society to create a harmonious community. Guanxi implies an obligation that one has to another. In China, it is stated that the wheels of business are lubricated with guanxi. *** END OF TRANSMISSION *** All the best, Sean Ring Editor, Rude Awakening Recommended Link [Trump: The Untold Story]( [Click here for more...]( In his final year of office… President Trump oversaw a Federal Ruling that could “rewrite the rules of what’s possible,” according to one tech insider. Apple, Samsung and Microsoft are all rushing to capitalize on it. But right now, very few regular Americans know the full story – or what it means for them… [Click Here For The Truth]( [Whitelist Us]( | [Archive]( | [Privacy Policy]( | [Unsubscribe]( Rude Awakening is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [unsubscribe](. Please read our [Privacy Statement.]( If you are you having trouble receiving your Rude Awakening subscription, you can ensure its arrival in your mailbox by [whitelisting us.]( © 2021 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. 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