Executive Global Spring 2022 by Executive Global

www.executive-global.com | Spring-Summer 2022

Productivity | Strategy | Profitability

DARLENE CONLEY

An inspired English countryside manor

DAVID MORGAN

Discusses silver as analog wealth

HARRY DENT

Money velocity and debt crisis

+ CODY MAXWELL

Profitability in luxury ranch real estate

CANADA’S PROPERTY BROKER Faith Wilson’s leading insight into presenting luxury real estate in British Columbia for Ultra High Net Worth clients

INSIDE

UK £10 Europe €12 USA $14

WAHATOYA CREEK RANCH

1030 DETROIT FARM

La Veta, CO / $4,527,000 / 392± Acres

Detroit, TX / $4,750,000 / 1,030± Acres

BACHMAN & ASSOCIATES 719.742.5551 / DiscoverBachman.com

C21 FARM & RANCH HARVEY PROPERTIES 903.782.4010 / C21Farm-Ranch.com

JT JONES RANCH

PORTER RANCH

Hempstead, TX / $19,452,000 / 2,142± Acres

New Castle, CO / $15,900,000 / 3,526± Acres

DEITRA ROBERTSON REAL ESTATE, INC. 832.642.6789 / IKnowRanches.com

EAGLE LAND BROKERAGE 970.249.4300 / EagleLand.com

WYOMING BLACK HILLS LIVING

DOMAINE DE LA QUIQUIER

HEYN REAL ESTATE 605.891.8744 / HeynRealEstate.com

INTERNATIONAL SPORTING PROPERTIES 207.449.2918 / InternationalSportingProperties.com

Newcastle, Wyoming / Price Upon Request / 1,500± Acres

C5 RANCH

France / Price Upon Request / 890± Acres

BERGEVIN FARMS

Cleveland, TX / $2,426,425 / 136± Acres

Walla Walla, WA / Price Upon Request / 394± Acres

JACOBS PROPERTIES 936.597.3301 / TXLand.com

NORTHWEST FIRST REALTORS 509.524.9055 / NorthwestFirstRealtors.com

CHEROKEE COUNTY RANCH Rusk, TX / $2,200,000 / 227± Acres

POWELL LAND RESOURCES, LLC 210.347.6493 / Powell-Land.com

L-H RANCH

Catron County, NM / $11,200,000 1,224± Deeded Acres + USFS Permit + Cattle

PREMIER RANCH PROPERTIES 575.740.3243 / NMRanchProperties.com

A M ER ICA N FA R M+R A NCH FIRST REALTORS

INTERNATIONAL Sporting Properties R E A L

The Group

Wyoming Land Division

E S T A T E

Harvey Properties

R E C R E A T I O N . . . AG R IC U LT U R E . . . E Q U I N E . . . R A N C H I N G . . . S P O R T I N G . . . T I M B E R

888.212.3752

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A M E R IC A N F A R M A N D R A N C H . C OM

STIGLER HUNTING RANCH Stigler, OK / $10,500,000 / 1,500± Acres

ONE-N-DONE RANCH

Big Timber, MT / Listed at $12,500,000 / 278± Acres / SOLD

RE/MAX ADVANTAGE LAND DIVISION 918.424.1505 / OklahomaLandDivision.com

RE/MAX EXPERTS LAND & RANCH 406.861.5558 / MTLandandRanch.com

ARROWHEAD RANCH

STATE HIGHWAY 145 HORSE FARM

RE/MAX THE GROUP WYOMING LAND DIVISION 307.259.1549 / CasperOpen247.com

RE/MAX INTEGRITY FARM & RANCH 618.488.2520 / IntegrityFarmAndRanch.com

METCALF 614

1,175 ACRE ROW CROP/RICE FARM

RESULTS LAND CO. 620.465.3499 / ResultsRE.com

TAYLOR LAND INVESTMENTS 281.235.5566 / TaylorLandInvestments.com

THE BLUFFS AT YANCY CREEK

HIGH VALLEY IRRIGATION RANCH

TEXAS RANCH BROKERS, LLC 512.756.7718 / TXRanchBrokers.com

THE WHITNEY LAND COMPANY 541.278.4444 / WhitneyLandCompany.com

Converse County, WY / $4,000,000 / 490± Acres

Hugoton, KS / $767,500 / 614± Acres

Lampasas County, TX / 100-1,000± Acre Ranches Available

Harrisburg, IL / $330,000 / 25± Acres

Wharton County, TX / Price Upon Request / 1,175± Acres

Union County, OR / $1,800,000 / 164± Acres

THE HIG H EST STANDARD I N

Texas Ranch Sales Capitol Ranch Real Estate encompasses the highest standard in Texas ranch sales with an impressive portfolio and was named one of America’s Best Land Brokerages. The annual rankings are compiled by “The Magazine of the American Landowner” and based on an analysis of company earnings, history, and transactions. Are you searching for a world of luxury and privacy, big landscapes, new horizons to share with those you love or maybe you are ready to embark on the next adventure and capitalize on the strong real estate market in Texas? We are in the land business and offer top-shelf service to buyers and sellers throughout the Lone Star state. Together we will create the ideal luxury experience tailor-made for you, where the enjoyment extends beyond land ownership and into a lifestyle. Capitol Ranch has an extensive base of high-profile and celebrity clients who have put their trust in our collective land insight and experience to ensure they receive the best representation. We will do the same for you. Professionalism and results YOU can count on!

TEXAS R A NC HES LEADERS IN THE LAND BUSINESS® OF F I CE LOCATIONS HOUSTON | AUSTIN | DALLAS/FT. WORTH | SAN ANTONIO

RanchRealEstate.com Office: 855.968.1200 | Cell: 979.530.7010 Info@CapitolRanch.com @CapitolRanch

CONTENTS

SPRING-SUMMER 2022

EXECUTIVE GLOBAL

24 42 28

EDITOR-IN-CHIEF John Marshall HEAD OF PRODUCTION Peter Green EDITORIAL Thomas Hughes, Rachel Smith, Oliver Taylor, Shannon Berkley, Vincenzo Morello, Cheryl Jones ART DIRECTION & DESIGN Stormcues Limited BUSINESS DEVELOPMENT Steve Williams, David Warmann, Jack Moore, David Goldwin, Mike Walsh COMMERCIAL DIRECTOR Luke Francis PHOTOGRAPHY James Drake, Sarah Dean, Rick Thompson Executive Global Magazine is published by: Stormcues Limited 405 Kings Road Chelsea London SW10 0BB Tel: +44(0)207 993 4782 www.executive-global.com ADVERTISING advertising@executive-global.com EDITORIAL editorial@executive-global.com The information in this publication has been obtained from sources the proprietors believe to be correct, however no legal liability can be accepted for any errors. No part of this magazine may be reproduced without the consent of the publisher. Executive Global is registered trademark ® of Stormcues Limited. Copyright © 2022 Stormcues Limited. All Rights Reserved.

• Productivity, Strategy, Profitability

FRONT COVER FEATURE Canada’s Property Broker

Economic history foretells 24

Our cover feature and CEO Profile on Canada’s Property Broker explores luxury real estate in British Columbia for UHNWIs with the Founder and CEO at faithwilson | Christie’s International Real Estate.

The Second Bank of the U.S.

Shannon Berkley’s report on why President Andrew Jackson killed America’s Central Bank.

Silver is Analog

David Morgan, CEO, The Morgan Report, looks at metals backed cryptos, CBDCs and silver.

PROFITABILITY Profitability in ranch real estate

Cheryl Jones on the dichotomy between Neo-Chartalism and hard money principles.

LEGAL & ADVOCACY

Executive Global’s bespoke series of interviews on Productivity, Strategy, and Profitability. We talk large land and water properties with Cody Maxwell, Owner of Capitol Ranch Real Estate.

Legal services for HNWIs

FINANCE

Trust & estate planning in Nevis 42

It is triage time for the Fed

Michael Pento, CEO, Pento Portfolio Strategies, examines the Fed, inflation and interest rates.

A cornered Fed, a golden value

Egon Von Greyerz and Matthew Piepenburg, analyse risk assets and gold as a store of value.

World’s biggest financial number 22 Harry Dent returns and comments on U.S. Treasuries, money velocity and the debt crisis.

Abel Gomez, Gomez Tomiczek International, looks at obtaining a Golden Visa in Panama. Oliver Taylor looks at a fascinating and tax favourable jurisdiction for asset preservation.

Pierce Brosnan, Photographed by Marco Grob

L i t t l e Tre a s u r y J e w e l e r s In t h e V i l l a g e a t Wa u g h C h a p e l 2 5 0 6 N e w M a r ke t L a n e G a m b r i l l s , M D 2 015 4

CONTENTS

SPRING-SUMMER 2022

EXECUTIVE GLOBAL

FOREIGN DIRECT INVESTMENT

AVIATION

LUXURY LIFESTYLE

Tourism and business in Vanuatu 44 Improving business productivity 56 Elite upscale matchmaking Rachel Smith, on the island country sitting almost 2,000 km east of Northern Australia.

Jersey business and investment

Investing money in an aircraft can be profitable long term. Rachel Smith explains why.

46 NetJets and sustainability

Shannon Berkley investigates this Crown dependency of the Channel Islands.

Business in Madeira

Thomas Hughes on how NetJets are exploring ways to remain both green and competitive.

48 Private jet etiquette

Thomas Hughes looks at the autonomous territory 1,000km Southwest of Portugal.

Oliver Taylor reviews five unspoken rules for consideration when travelling by private jet.

TECHNOLOGY

EXECUTIVE EDUCATION

The Incompatibility of CBDCs

50 The future of lifelong education

Shannon Berkley’s report on the threat CBDCs present to retail banking and democracy.

Validation and verification

Valarie King-Bailey, CEO, OnShore Technology Group returns to deliver her insight into IV&V.

• Productivity, Strategy, Profitability

An English countryside manor

Darlene Conley presents Casa Bella, an English countryside manor inspired by natural beauty.

Penthouse living at the Arabella 72 Arabella takes luxury condo living to new heights. Martha Turner Sotheby’s tells us more.

San Diego land acquisition experts 74 62

Andrew Crisp, Co-Founder, CarringtonCrisp, looks at approaches to corporate learning.

The politics of unlimited free energy 52 Transforming the business model 64 Thomas Hughes on Nikola Tesla, Maxwell Chikumbutso, and suppressed technologies.

We discuss the perfect match for the world’s rich and famous with Amber Kelleher-Andrews, Co-Founder & CEO, Kelleher International, Inc.

Andrew Main Wilson, CEO, AMBA, on pressure institutions face to overhaul delivery models.

H.J. Fotinos, Inc, offer a comprehensive service for real estate buyers, sellers and developers.

BENTON STREET AND WASHINGTON STREET, WINCHESTER, CA 92596 17 plus acres located in the heart of developing French Valley. Thousand of new homes have been built here in the last 15 years with more to come. This acreage is part of the Winchester 1800 Specific Plan which is nearing build out. The acreage is zoned Commercial with more than a hundred potential uses including banks, auto supply stores, bakery goods, clothing and department stores, grocery stores, hardware stores, restaurants and eating establishments, bars and cocktail lounges, garden supply stores, private schools, offices and businesses and gas stations and automobile repair shops with a conditional use permit. In addition, there is a chance the county will allow the property to be converted to residential through a General Plan Amendment, Specific Plan Amendment and rezone. The Seller will allow a Buyer time to investigate this possibility and if the buyer decides to process the zone change, provide some time to accomplish it prior to the close. 17.74 Acres Offered at $10,000,000

SIMPSON ROAD AT DAWN LANE, WINCHESTER, CA 92596 This listing is for three of four parcels with a 128-lot, approved Tentative Map, TM33700, in a quickly developing area. The asking price for the three parcels is $6,600,000. The fourth parcel is also for sale and listed (Call Agent For Contact Information) for $2,200,000. The total purchase price for the Tentative Map purchased from the two owners is $8,800,000. The Sellers are cooperating to sell this rare approved Tentative Map. DR Horton is pre-selling its new community, Peasant Valley, directly to the west. Pleasant Valley will have homes priced from $547,000 to $610,000. Other builders in the area include KB Home, Brookfield, which purchased land but has not opened a community, and Lennar. Winchester has seen rapid price appreciation over the last two years, with new home builders increasing pricing by more than $100,000 since 2020. The Tentative Map consists of 7,200 square foot lots minimum and has one extension remaining. 29 Acres Offered at $6,600,000 9.64 Acres Offered at $2,200,000 Total purchase price Offered at $8,800,000

Harry Fotinos

REALTOR | DRE #01123009 Office - 619 206 2655 Email - hfotinos@hjfinc.com Web - www.hjfinc.com

1188 Wolfe Ave, Vancouver BC, Canada, $13,880,000 CAD SPLENDID MANSION sitting on 33,800 sqft lot in most prestigious FIRST SHAUGHNESSY. The elegant heritage home features mountain and city views from all levels/w radiant floor heat. House has been completed renovated with while it's historical charm and characters are kept. Private setting with a park-like garden, a gated circular driveway and an outdoor pool provide a sensational outdoor lifestyle. This spectacular 8 bedroom, 9 bathroom home has been lovingly restored, emphasizing its heritage features like beautifully handcrafted oak and mahogany design details, dramatic exposed beams. Possibility to add a Coach House and a land fill house.

3305 667 HOWE STREET, Downtown Vancouver BC Canada, $4,580,000 CAD Welcome to THE PRIVATE RESIDENCES AT HOTEL GEORGIA. Located in the heart of Vancouver Downtown, this highly valued 2 bedroom + den 2047 sq.ft condo is walking distance to corporate head offices, leading law firms, brokers, banks, the Vancouver Board of Trade and the Skytrain. This southwest + southeast facing unit provides a stunning 270 degree view of the panoramic city mountains and ocean. Features an excellent floor plan, air conditioning, a gorgeous kitchen, panelled with brand name appliance and in floor garbage room. 5-star hotel amenities include an exercise centre, indoor pool, valet parking, 24 hrs concierge services, spa treatments, bike storage and fine dining.

1323 The Crescent, Vancouver BC Canada, $6,980,000 CAD Gracious family home with 3 bedrooms, 1 great room and 1 office set on 'THE CRESCENT', Vancouver's most distinctive and prestigious area, in the heart of 1st Shaughnessy. Exclusive use of 13,048 sq.ft. of land amongst lush gardens and mature trees, with a private gated circular driveway. Quality built in 1990, with extraordinary attention to detail, extensive mouldings, cherry wall paneling, vaulted ceilings, Oak floors, custom cabinetry and in-floor radiant heat. a sun-filled kitchen/family room with direct walk-out access to an entertainment patio and rear garden, spacious living and dining rooms and an office with gas fireplace. The two car garage is attached and can be access from a rear lane as well as through a secure gate off The Crescent. This hidden treasure offers tremendous privacy & serenity.

Claire Gong

Realtor, Personal Real Estate Corporation

clairegongprec@gmail.com | www.nustreamrealty.com | (778) 223 3887

EDITOR NOTE

Foreword

EXECUTIVE GLOBAL Editor’s Note

The Great Commodities Boom of The 2020s The way in which central banks have repeatedly pumped liquidity into global economies after each crisis has been nothing short of alarming. In a perpetual display of pardoning the killers, central banks effectively set sail for (our) fiscal suicide and allowed inflation to continue unabated on its passage towards the taxpaying citizen. hen you think about it, counterfeiting is nothing but illegal inflation — putting money into the system, which erodes the value of the currency. By the same definition, printing an endless money supply is legal inflation, and anyone familiar with the construct of money would have a hard time avoiding the fact that the commoners are going to pay hard for QE. When central banks abandon traditional money supply regulation as they have with QE, and start rolling the presses as though the world was ending, the whole story short is that the currency is devalued. Inflation is best viewed as a financial cancer because it gradually yet relentlessly erodes the value of our savings. Some investors prefer to ignore inflation; but that’s nothing more than the denial required to keep rolling, in their case, because it’s coming. It’s written into the script. Monetary easing measures are not only the cause of inflation, but on the flip side are extremely bullish for commodities, particularly oil leading the commodities surge right now, natural gas, gold, silver, platinum, and palladium, all of which have industrial application and are in demand as the hi-tech future looms. Taking a more Sorosian stance and looking to capitalise on the current markets, rather than a Buffett grumble about the long term erosion of money’s value, an interesting possibility arises — the possibility to offset the pending devaluation of our money and the hurtful inflation it causes. Could trading commodity ETFs like PDBC (the Invesco optimum yield diversified commodity strategy) allow investors to beat inflation? Analyst Greg Mannarino is on record as saying that central banks will do anything to maintain their power, and

executive global • Productivity, Strategy, Profitability

their power resides in “their ability to issue debt.” That’s a dark future for the common man, but by the same token, it’s reassuring to know that the quantitative easing being practiced as monetary policy by central banks is extremely likely to continue. If commodities were always rewarding staples of trade to date, they’re going to be hot staples of trade going forward. Oil and gas prices continue to rise, and with geopolitical uncertainty and the monetisation of debt by central banks continuing unabated, that food, energy, and commodities inevitably increase in price is a mathematical certainty. That also means an increase in value for prudent investors. Have central banks granted a gift to those who know and understand financial history, and who have done their due diligence? Looking at historical data, at current action, and factoring in quantitative easing, all points to a sustained spike in commodity prices that isn’t going away anytime soon. Buying commodities is suddenly very attractive, even for those who have lived side by side with them for years without showing much interest. Smart investors may do well to look at indices like PDBC as an effective strategy and route to profitability for sidestepping inflation when it comes home to roost. EG

John Marshall

John Marshall Editor-in-Chief, Executive Global

CULLINAN ONE LIFE. MANY LIFEST YLES

Discover Cullinan at Rolls-Royce Motor Cars Geneva or visit www.rolls-roycemotorcars-geneva.ch Route de Saint-Cergue 298 - 1260 Nyon T. +41 22 36 38 010 - blamotte@rolls-roycemotorcars-geneva.ch Official fuel economy figures for the Rolls-Royce Cullinan: Urban 12.6-12.9*mpg (22.4-21.9l*/100km). Extra Urban 25.7-25.9*mpg (11-10.9*l/100km). Combined 18.8*mpg (15*l/100km). CO2 emissions 341*g/km. *Preliminary data not yet confirmed, subject to change. Figures are obtained in a standardised test cycle. They are intended for comparisons between vehicles and may not be representative of what a user achieves under usual driving conditions. © Copyright Rolls-Royce Motor Cars Limited 2021. The Rolls-Royce name and logo are registered trademarks.

Dream Property!

t is not often you find an exterior environment that is lush with natural forest beauty combined with fruit trees, vinca and wisteria dotted with magnificent streams and ponds and unexpected spaces to just sit and enjoy. This is the Dream Property you have been waiting for. The stately custom Lodge has an English-Country feel and impeccably built by highly acclaimed Ron Dolman. The 2.8-acre grounds meander around to a six horse stable barn with Tac Room, Feed Room, Birthing Barn, Corral, Tractor Barn and the adjacent 1.8-acre land features a fenced riding arena with hitching posts, lights and sprinklers!! There are 4 gorgeous Bedroom Suites with a Separate Guest Suite that has private entrance. Gentleman’s Game Room with Bar. Formal Dining Room. Open, airy Kitchen with all amenities. Massive high beamed ceilings. 6 Fireplaces. 3+ Car Attached Garage. Privately Gated. Includes Sellers Dock Slip and the Vacant Land.. Text or Call Lynne B. Wilson for more information, 951-741-7117. $3,180,000.

Call or Text: (951) 741-7117

DRE# 01509039

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Lake Arrowhead Office: (909) 337-2080

Website: CottagestoCastles.net • Email: info@Lynneonthego.com • YouTube Video: http://lynnebwilson.com/watch/

One of a Kind!

ot another one like this... You will fall in love! Painstakingly built to Perfection by the Present Owners, no detail was missed for convenient Mountain Living. From the Generator, the Irrigation Deep Well Water System, the Gourmet Kitchen, to the Glamorous Master Bedroom and Bath, no expense was spared. Exceptional Construction, this Showplace Lodge is all ONE LEVEL Living. Attached 4 Car + Garage opens directly into the Home. Total Seclusion with only one nearby neighbor. The Grounds are absolutely Magnificent with many Unique Outdoor Entertaining Spaces. One Extraordinary Area contains Outdoor Chef’s Kitchen, Firepit and Custom Smoker! Situated on over 2 Acres, if you are an RV Lover, you have found the right place! The Sellers have thought of everything to accommodate such a Luxury... as they are Travelers Extraordinaire. 4 Bedrooms, 3 Baths. Formal Dining Room. Grandscale Kitchen. Huge Trex Deck. Covered Porch. Central FA Heat and A/C. High Tec. Solar Panels. $1,475,000.

Call or Text: (951) 741-7117

DRE# 01509039

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Lake Arrowhead Office: (909) 337-2080

*Artwork by Laura Rathe Fine Arts

Spectacular Penthouse with floor to ceiling windows bringing East, South & West views. This never occupied 4/5 bed 5.5 bath Penthouse has been upgraded throughout with additional private heated pool, 3 car garage and 3 large storage units. Open floor plan is perfect for grand scale entertaining. All bedrooms en-suite, direct elevator access into the residence. Per appraiser 4479 interior SF with 483 SF balcony. Sky high luxury at its finest.

H O US T O N , T E X A S – A R A B E LL A

Penthouse Views... ARABELLA | 4521 San Felipe Street, Unit #2902 4-5 Bedrooms | 5.5 Baths | Price upon request

Contact me today for more information.

Hedley Karpas REALTOR-ASSOCIATE®

713.444.5721 | hedley.karpas@sir.com

H E D L E Y K A R PA S . C O M

A R A B E L L A 2 9 0 2 .C O M

MTSIR #6 Top Producer Circle of Excellence, Hall of Fame HBJ Top Producer

FINANCE

Pento Portfolio Strategies

It is Triage Time for The Fed The Fed must first prick the inflation bubble before any attention can be paid to the faltering stock market. Article by

Michael Pento PRESIDENT & CEO, PENTO PORTFOLIO STRATEGIES

ow did we get here you ask? The Fed’s balance sheet, the rough equivalent of the base money supply, went from $800 billion at the start of 2008 to $9 trillion today. This has led to the most expensive stock market, real estate market and bond market in history. Into these record asset bubbles you will have to add an economy that is slowing rapidly due to the $6 trillion of Pandemic-related helicopter money that has suddenly grounded to a halt. Add to this, the fact that inflation is at a 40-year high of 8.3%. That is, if measured with changes made to the inflation calculation in the 1980’s. The preBoskin Commission metric would show that the actual rate of Consumer Price Inflation would be around 17%. We also have the headwinds of spiking interest rates and debt services costs. Which, for example, have caused home equity refinancing activity to fall into a depression.

INTEREST RATE SUPPRESION AND DEBT The list goes on: real incomes are plunging, the war in Ukraine is causing more supply chain bottlenecks, China’s COVID obsession is leading to lockdowns and pushing prices even higher—just as it also further attenuates global growth. The situation is dire but the Fed cannot come to the rescue at this time because inflation is tying his hands. Fed Chair Jerome Powell is forced to aggressively tighten monetary policy into a weakening economy and falling earnings growth. The Q4 2021 GDP was 6.9%; but by Q1 2022 that growth rate plummeted to -1.4%. The 2021 S&P 500 EPS growth was 47%. And yet, the first half of 2022 is projected to show EPS growth of just 5%. On top of all this, the Fed is forced to hike rates when the all-important recession indicator of an inverted yield curve is already manifest.

Jerome Powell has to become the most hawkish Fed Chair since Paul Volcker. He will be hiking the Fed Funds Rate by 50bps increments in June and July; in addition to the 50 bps already administered in May. At the same time, he is starting Quantitative Tightening (Q.T.) in June, which will peak at $95 billion per month come September, which is twice the peak level of the last Q.T. program. In other words, the Fed will be destroying over a trillion dollars in money supply per year. In fact, central bankers throughout the world are concurrently fighting inflation. The Fed’s last Quantitative Tightening cycle was not at all like watching paint dry. It sent the Russell 2000 down 25% between Halloween and Christmas of 2018; and caused the credit markets to completely shut down in 2019. Interest rate suppression has vastly distorted markets and the level interest rates can climb to before the financial system breaks continues to decline. In 2000, it took a Fed Funds Rate (FFR) of 6.5% before the market melted down. Leading up to the Great Financial Crisis of 2007-2009, that level dropped to 5.25%. Then, due to the massive leverage prompted by the Fed and Treasury following that crash, it took a FFR of just 2.5% to cause the credit markets to freeze and stocks to falter in 2018. Today, it will probably take a FFR of just 1.5% before the financial markets once again meltdown. The reason for this is clear: We have the most overleveraged economy in U.S. history. Much greater than the previous peak in 2007, which led to the Great Recession. L e t ’s r e v i e w, i n December 2007 corporate debt was $6.3 trillion (42%

• Productivity, Strategy, Profitability

FINANCE

Pento Portfolio Strategies of GDP). At the end of last year, corporate debt soared to $11.6 trillion (48% of GDP, a record high). Total Non-financial debt was $33.5 trillion (227% of GDP) at the start of the Great Recession. But now, total non-financial debt has skyrocketed to $65 trillion, which is an incredible 270% of GDP. We have had an 84% increase in corporate debt and a 94% jump in total non-financial debt in just the last 14 years! Photo: ZUMA Press, Inc. / Alamy Stock Photo

TIMING THE MARKET IS CRITICAL The fed ”put” is much lower than ever before because you can’t fix an inflation problem with more money printing. We are now facing a pivotal moment where the 50-year experiment with fiat money has failed. Equities have entered a bear market that should slowly devolve into a credit crisis and market crash later this year. The entire fixed-income spectrum has sold off violently, and yields have spiked across the board. I expect Treasuries to catch a strong bid soon, as slowing U.S. growth devolves into a recession, causing Treasury yields to fall just as corporate debt yields spike inexorably. To sum it up, the worst bear market of our lifetimes has already begun. For now, you must own the assets that tend to prosper when inflation and growth are slowing. For most investors, it will

FOR NOW, YOU MUST OWN THE ASSETS THAT TEND TO PROSPER WHEN INFLATION AND GROWTH ARE SLOWING. FOR MOST INVESTORS, IT WILL SET THIER RETIREMENT PLANS BACK A DECADE...

set their retirement plans back a decade or longer. Once the credit and liquidity crisis begin, nearly all asset classes get sold off in tandem. However, if you own what I have termed the four horsemen of the economic apocalypse: Cash, Treasuries, US Dollar and Equity Shorts when the time is right, history has shown you can turn a period of chaos into a time of great prosperity. Inflation is preventing the Fed from pivoting back to dovish like it has done over the previous few decades. This means the bear market will continue unabated until that eight percent rate of inflation retreats by at least four or five percentage points. And that won’t happen anytime soon. Timing the market when the macroeconomic conditions are this horrific is crucial to your investment success. EG

For further information, please visit: www.pentoport.com www.executive-global.com

Spring-Summer 2022 •

FINANCE

Matterhorn Asset Management AG

A Cornered Fed, a Bluffing Inflation Policy, and a Golden Value As risk assets witness their worst annual start in history, more investors are turning to real assets in general and precious metals in particular to address increasingly obvious inflation concerns as well as currency alarms. Article by

Article by

FOUNDER, MATTERHORN ASSET MANAGEMENT AG

COMMERCIAL DIRECTOR, MATTERHORN ASSET MANAGEMENT AG

Egon Von Greyerz

n this openly disconcerting and volatile macro environment, gold, as expected, is re-emerging not only as true store of value against weakening global currencies, but also as an exceptional value investment.

THE GREAT INFLATION FIASCO As recently as 2021, many prominent Fed officials stuck to their now fully-discredited argument that rising inflation concerns were only “transitory.” The FOMC’s Lael Brainard famously announced that she anticipated a “deceleration” in inflation by year-end. Since then, Year-over-Year producer price inflation has risen to 20%, and CPI inflation has passed the 8% marker. Furthermore, when considering the same CPI metrics previously used to measure inflation by the Bureau of Labor Statistics in the 1980’s, current inflation would now be more accurately reported at least 17%, which is how we all actually feel it. In short: Inflation is and was more than “transitory,” as we warned well over a year ago. In fact, it’s a growing and present danger. What is more, and despite public statements to the contrary throughout 2021, the 2022 Fed is (and was) more than aware of this inflationary threat. A CORNERED FED Into 2022, other Fed officials, including Neel Kashkari, began openly calling for aggressive Fed rate hikes to combat the growing inflation threat, which he and other FOMC talking heads first blamed on COVID and then later blamed on Putin. But that’s not the full reality… Needless to say, when: 1) a central bank balance sheet goes from less than 1 trillion (circa 2008) to more than $8.9 trillion as of this writing, or 2) when the M1money supply skyrockets by over 450%, the inflation problem, which is defined by an expansion in the broad money supply, finds its real blame (and culprits) in central banks, not politicised viruses or a financially weaponised war in the Ukraine. Regardless of the Fed’s characteristic efforts to shirk responsibility or lay the blame elsewhere, their “solution” to the current inflation problem is as comical as it is tragic. They have literally placed themselves, and the global economy, in a corner of their own making.

Matthew Piepenberg

COMICAL CHEST PUFFING TO OPEN BLUFFING That is, the only viable tool for “combating” inflation is to raise interest rates. Recently, Brainard even made a public, chest-puffing homage to the days of Paul Volcker and his infamous 1980 rate hikes to fight the inflation which Nixon unleashed by closing the gold window in 1971—an historical move which removed the precious metal “chaperone” from the USD’s drunken expansion ever since. What Fed officials like Brainard fail to mention, however, is that when Volker rose rates to as high as 20% in 1980, US Public debt was $900 billion. Today, that debt tally has risen to over $30 trillion. There is absolutely NO WAY that Uncle Sam could afford any meaningful rate hike today akin to the Volcker era. So, what can the Fed do to fight inflation aside from blaming others or making fantasy “homages” to the bygone days of Volcker? The answer is simple: They can bluff. Stated otherwise, the Fed can make public and actual overtures to increase the Fed Funds Rate by 50 or 25 basis points here and there to “combat” inflation. In reality, however, the Fed is seeking rather than fighting inflation. Really? Yes. And here’s why. THE LESSER (EASIER) OF TWO EVILS First the Fed corner alluded to above boils down to this: 1) if they raise rates too high, then neither Uncle Sam nor the vast majority of debt-soaked enterprises on the S&P can stomach the interestexpense pain, and thus markets will crash; 2) if they don’t raise rates, then inflation runs wilder, Main Street gets clobbered by an invisible inflationary tax and the USD’s inherent purchasing power weakens even further. When faced between such bad choices, the Fed will always and ultimately bend toward the markets and politics and

• Productivity, Strategy, Profitability

not the Main Street. In other words, the Fed will help Uncle Sam do what every debt-soaked nation or regime from Ancient Rome or 18th century France, to 1990’s Yugoslavia, to 2022 America has always done: Inflate away its debt. By this, we mean the US central bank, as well as central banks in Japan, the EU and elsewhere, will make sure that no matter how high they take up interest rates, the inflation rate will always be higher. In short, the Fed and other cornered central banks will simply pursue a deliberate policy of negative real rates (i.e., inflation outpacing interest rates) while publicly pretending to “fight inflation.”

FINANCE

Matterhorn Asset Management AG

This magic trick of allowing future inflated (i.e., debased) currencies (take the Yen as a recent example) to pay for yesterday’s debts is of course disastrous for the citizens over which these private central banks are (and have been) taking ever more political and financial control. PUBLIC FLEXING, PRIVATE SCHEMING Currently, for example, the Fed has been “flexing” publicly by announcing less money printing and bond buying (i.e., “tapering”) to allow rates to rise and hence allegedly “fight” inflation. US Treasuries, feeling a tad bit less support from the Fed, have consequently fallen in price and hence their yields have risen. But what the Fed isn’t publicly reminding investors is that even as the yield on the US 10Y Treasury rises to near 3%, that yield/rate is still well below the current Year-over-Year inflation rate of 8.26%. When adjusted for inflation, the real rate of even a rising UST rate is still NEGATIVE to the tune of -5%. So, there you have it: A bi-polar world of central bankers “fighting inflation” in the headlines but seeking inflation in their private sessions. Risk Assets Reeling in the Face of Rising Rates: What Can the Fed Do? - Meanwhile the risk asset markets (stocks and bonds) have been tanking throughout Q2 of 2022 because they are terrified of a tightening rather than easing Fed. Why? Because, as bond yields and interest rates rise, their debt expenses become fatal. But the Fed favours

markets and political survival over real economies, and knows that that the bulk of Uncle Sam’s otherwise dwindling income from stagnating GDP growth comes from tax receipts rather than actual productivity. In short: The Fed knows all too well that if markets tank, tax receipts tank as well. This scares the Fed. Furthermore, the interest expense on entitlement and other US debt obligations are currently greater than 120% of US tax receipts, which means Uncle Sam can’t afford a tanking market and even less incoming tax revenue from capital gains taxes. That is why we foresee an inevitable (as well as classic) Fed “pivot” from its current tough-guy taper stance to even more money printing by 2023. That is, the markets will flip and flop like a fish on the dock into a taper, and then the markets will fall dramatically, as they did in late 2018 when Powell took rates too high for the S&P to endure. By 2019, unlimited QE was back in play to placate a market tantrum. We expect a similar move from hawk to dove in the near future. THE GOLD QUESTION: FROM HEADWINDS TO TAILWINDS Needless to say, more money printing will not only be inflationary (what the Fed secretly needs), but it will also weaken faith in the increasingly debased USD, which

ultimately acts as a massive tailwind for gold. As of this writing, of course, gold has seen prices fall rather than rise. This is neither a surprise nor a concern to informed gold investors, and if anything, simply allows for better buying opportunities. As for gold’s price suppression into 2022, there are simple headwinds and explanations. First, there is the omni-present and open price-fixing employed daily by a handful of bullion banks in the OTC market. Here, a small group of BIS minion banks are placing a permanent short on the gold price via levered forward contracts. Nations are terrified of rising gold because it embarrasses their sovereign fiat currencies. They use the OTC markets to commit legalised price fraud. Secondly, the US Treasury Department under former Fed-Chair-turned-politico, Janet Yellen, is openly pursuing a failed policy to make the USD appear relatively stronger in a rising rate environment. As the USD’s relative (rather than inherent) power rises, gold always takes a temporary hit. Thirdly, as risk assets take a beating in the public markets, gold often follows markets downward for a short period, but in a far more anti-fragile manner. Ultimately, however, as central banks like the Fed are forced to pivot toward more fiat money creation to artificially prop their otherwise zombie-fied bond markets, global currencies in general, and the world reserve currency in particular, will continue to weaken. GOLDEN VALUE FOR A STORE OF VALUE That is when and how gold emerges in its historical role as wealth insurance for openly dying currencies. Today, as grossly over-valued bonds and stocks (including tech stocks like BTC…) are falling due to years and years of extreme over-valuation, gold, when measured against the broad money supply, is as cheap today in the 1800-range as it was in 1971 at the $35 range. In short, for investors looking for real value as well as a store of value, gold is a sober and obvious first choice. EG

Photo: Sipa US / Alamy Stock Photo www.executive-global.com

For further information, please visit: www.goldswitzerland.com Spring-Summer 2022 •

PRODUCTIVITY STRATEGY PROFITABILITY

PROFITABILITY

Capitol Ranch Real Estate, LLC

Profitability in Ranch Real Estate Interview with

Cody Maxwell

FOUNDER/BROKER, CAPITOL RANCH REAL ESTATE, LLC

Our dedicated interview on Profitability with CODY MAXWELL, Owner of Capitol Ranch Real Estate, profiles the founder of the company that has a reputation for client satisfaction in selling and in-depth buyer representation on large land and water properties throughout Texas, as Executive Global sit with the leader in luxury ranch properties to find out what makes the real estate markets thrive in the Lone Star State.

How would you compare and contrast properties, lifestyle and opportunities in areas like Houston with that of Dallas FortWorth, San Antonio and Austin? We have the pleasure to represent high net CM worth clients in each of these cities regularly, and for the most part they have more similarities than differences. Buyers want a good deal on beautiful landscapes in convenient locations. The common theme is that these cities are growing toward each other at a break-neck speed. The “Central Texas Triangle” has been responsible for 80% of population growth in Texas over the last 50 years. The allure of Texas being business friendly and having no state income tax attracts both investors and end-user buyers from all over the nation, especially California. The news is out that investing in rural land, especially in Texas, is a bona-fide fun, legitimate, tangible, and resilient monetary investment. You can fish, hunt, grow crops, plant a vineyard, enjoy livestock and wildlife, plus raise a family on it – all the while making memories worth remembering. EG

What fundamental factors are key to successfully selling real estate at the maximum sales price in Texas? In order to reach the maximum sales price CM the land must be presented in a first-class manner showing the property in its absolute best light thereby demanding the most attention from multiple qualified buyers at the same time. Our planned showing strategies center around the Buyer prospect making sure they are comfortable, well informed, and in a position to make an offer EG

immediately. This is the land business and there’s only one opportunity to make a first impression of value. Afterward, an experienced Capitol Ranch agent will negotiate the finest terms for our Seller. Marketing is the key to get in the door. Once in the door - proficient, specialised service with laser focused intention and integrity is required. Would you say your degree in Animal Science, extensive experience in cattle management, ranching and passion for the great outdoors, offer additional advantages to ranch buyers? Knowledge of livestock and land production, CM mineral and water rights, easements and encumbrances, leasing, and wildlife, lake and rangeland management are useful in selling ranches and advising clients. A guide who understands these land related factors is vital to a client’s confidence and risk management. EG

How do you try to innovate in ways that lead to greater profitability in the real estate market? Each year we host the “Capitol Ranch Agent CM Roundup” where we communicate our client needs and brainstorm on new ideas and innovations to incorporate into our personalized land sales practices. We coined the term “Ranch Real Estate” in 2011 which is now used nationwide in land advertisements. Our process is quite efficient crediting the implementation of constant improvement, and utilizing the newest technology in advertising and property showing tools for our clients benefit.

• Productivity, Strategy, Profitability

Tell us how the patented Drive-Over Chock technological innovation you designed, may assist hardworking ranchers? I invented the Drive-Over Chock to solve CM the problem of ratchet straps loosening and breaking when hauling ATV’s and UTV’s on a trailer, resulting in damage. The DOC stabilises tires, preventing them from rolling simply by driving over it. Ranchers, land agents, hunting guides – anyone who hauls a buggy loves it. EG

Your mission is to give peace of mind to clients through proficient real estate transactions. What can affluent clients expect when working with you? We represent some of the most discerning CM buyers and sellers in the state who desire the best service and confidentiality. This can look like a lot of things - whether setting up private helicopter tours of ranches or working their cattle. Our clients are our partners and most retain us for multiple land investments over decades of service. EG

With over $500 million in real estate sales since your founding, what would you say is the true secret to your success? The difference is our people! We are fastidious CM in our hiring process. Our Capitol Ranch land professionals make the magic happen for our cherished clients. EG EG

For further information, please visit: www.capitolranch.com

We represent some of the most discerning buyers and sellers in the state who desire the best service and confidentiality.

FINANCE

Economy & Markets

The Biggest Financial Number in The World - $573 Trillion! We all have a lot of big numbers to consider in the world during this unprecedented time of population and economic growth. In 1900, global population was only 1.65 billion. Now, it’s 7.94 billion and projected to grow to 11 billion plus by the end of this century. Article By

Harry S. Dent, Jr.

BESTSELLING AUTHOR & EDITOR, THE HS DENT FORECAST

hat’s an increase of nearly five times in just 121 years, by far the greatest explosion in history and in a minor fraction of time. But that’s nothing compared with our GDP or economic output, which was $93.9 trillion in 2021 and is projected to be $100 trillion plus this year. GDP was only $3.4T in 1900, making that an increase of 28 times in today’s inflationadjusted dollars. But here’s the most important, eyeopening number that I focus on: $573 trillion in financial assets worldwide. Not only does that dwarf GDP by 6.1 times… it historically is more like three times, has bubbled the most, and, hence, could fall very dramatically in a short period of time…You know, like the 1929-1932 stock market crash, the 2000-2002 tech wreck, or the 2007-2009 financial crisis. A crash is coming. It not only will be the final crash of this era, but will be bigger than all previous crashes after 1932, as the global financial asset bubble has grown massively since 2009 as a result of unprecedented stimulus, which went directly into financial asset purchases! If the money had been sent directly to consumers, we would have gotten much more consumer price inflation instead of record financial asset inflation.

US TREASURIES AND BONDS U.S. GDP fell only 4.3% from 2007 to 2009 in the 2008 financial crisis, the worst downturn we

had seen since 1980-1982. In the historically most extreme crash by far, from 1929-1933, GDP fell 30%. By comparison, blue-chip stocks fell 89% in the 1929-1932 crash, 50% in the 1973-1974 crash and 56% in the 2008 crash. The Nasdaq fell 78% just in 2000-2002. Real estate fell 34% in the 2008 financial crisis, which will be mild compared with what will happen in the final crash ahead, for which I project a real estate crash of 40% to 50%. Gold fell 70% from 1980 to 1982, and even corporate bonds fell 26% from 2003 into 2008, and over 25% in just one year, 1994, when the Fed raised rates unexpectedly to slow the expansion. High yield (junk) corporate bonds fell 56% in just 3 months in 2014 from that unexpected Fed rate hike. In the U.S., financial assets grew an average of 3.2 times between 1950 and 1995, before the great

• Productivity, Strategy, Profitability

THIS IS A SHOCKER: IN THE INEVITABLE GREAT CRASH AHEAD, SOMETHING LIKE $250 TRILLION, OR 2.7 TIMES GDP COULD DISAPPEAR FROM OUR GLOBAL ECONOMY...

FINANCE

Economy & Markets bubble in stocks and financial assets exploded most around 1995… You know, when the S&P 500 went up 3.6 times in just six years, from its low in 1994 to its high in the first tech bubble peak in 2000! The following chart shows how much I project financial assets in all four categories will fall in the next few years, once financial assets come back down to earth again. This is a shocker: in the inevitable great crash ahead, something like $250 trillion, or 2.7 times GDP, could disappear from our global economy… because the crash and debt restructuring has been put off for 13 years now, since the Great Reflation of early 2009 forward. I project that number in the U.S. alone to be $80 trillion, or 32% of the global financial asset crash. Real estate, which is leveraged by mortgages and critical to our way of life, will fall the most overall, by around $130.6T, from $326.5T down to $195.9T. The fall in real estate will take longer than the fall in stocks, and real estate will be much slower to recover. Stocks will be next to fall, dropping from $109.2T down to $32.8; $76.4 trillion could disappear within 2 years or so. Of the many economic sectors, stocks always fall the most and the fastest, along with most commodities except gold. Even bonds, a safer and overall larger sector, at $123.5T, will fall around $37T in value, from $123.5 to $86.5T. Is there nowhere to hide? Yes, but only in the safest bonds, including U.S. Treasuries and AAA corporate bonds.

Photo: Xinhua / Alamy Stock Photo www.executive-global.com

MONEY VELOCITY AND DEBT CRISIS Gold and crypto together make up a smaller sector, worth $14.1T, that could fall to $8.5T, down $5.6T – although both are billed as safehaven assets. I deem U.S. Treasury bonds to be the ultimate safe haven. Both crypto and gold have bubbled as much or more than stocks. Crypto is only about $2 trillion today and will fall by as much as 95%, but gold, the much larger area in this sector, will hold up better and likely will fall by 40% or less. You have to be asking at this point, “What’s the best way to see such a financial asset bubble building, other than by looking at the moreobvious bubbles on stock charts, like those from 1922 to 1929, 1994 to 2000, and 2009 to 2022?” Money velocity, which measures how productively we are investing our capital in total across consumer, government, and corporate sectors, has been dropping like a rock since 1997, much like it did from 1918 into 1932. I strongly believe in the importance of money velocity, and this chart, which goes back to 1900, demonstrates what I am talking about. (The only other economist I’ve found who touts the primary importance of money velocity as strongly is Dr. Lacy Hunt of Austin, Texas. He is the mainstream PhD-educated economist I admire most.) The chart couldn’t be clearer about what causes bubbles and the great collapses or depressions that follow. Rising money velocity indicates that money is being invested profitably, yielding good returns that lead to reinvestment. When money velocity falls, it indicates that money is going into more speculative uses, such as investing in financial assets in a bubble or in stock buybacks that shrink the float and make your stock more valuable even if you are not growing that much or profitably. These are typically not productive uses of money that expand capacity and long-term profits. The Roaring ‘20s bubble occurred in a rapidly falling money velocity trend from 1917 into 1932. The present bubble is occurring during a similar and more extreme money velocity crash that began in 1997 and continues now – and we haven’t even seen the ultimate debt crisis and depression that has yet to come, which will be similar to what happened from 1930 to 1933 and will bring money velocity down even lower still!

Money velocity has already fallen more than in the early 1900s, when it dropped 40%, from 2.0 to 1.2; 90% of that drop occurred into 1932. This time, money velocity has fallen from a peak of 2.2 in 1998 down to 1.1, a drop of 50% already – and we haven’t yet seen the biggest debt crisis and downturn that’s coming, wherein unsustainable debt and unproductive investments will get flushed out of the economy, allowing the economy to become to grow and become productive again. I see money velocity going to at least 0.8 in the downturn and debt detox ahead, a drop of 64% or more, worse than the 40% drop during the Great Depression. Thus, this debt crisis should be worse than the Great Depression, during which the blue-chip Dow fell 89% and unemployment rose to 25%. It may not be quite that bad this time, as governments have shown that they are willing to flood the economy with money every time we have an economic slowdown. But it has been such policies that have blown up this bubble in financial assets to a much greater and broader level than at any time in history! There is a point at which such asset-inflation policies blow up in your face. Now is that time, in my estimation. Who is going to plead for central banks to use the same “easy way out” policies that only created a much greater bubble after the last crash? THE LAW OF DIMINISHING RETURNS You can see how reluctant the Fed and global central banks have been to curb stimulus this time around, as they have learned how weak the economy actually is – otherwise, the continued escalation of stimulus for the 13 years since 2009 would not have been required, including $5.1T alone printed in the two years just since the COVID crisis. But inflation, now 8.5% and rising at a time when my proven inflation indicator says it should be 1% to 2%, is forcing governments and central banks to tighten policies right when this great bubble is stretched the farthest of any bubble in history – and it’s ready to blow! In summary, my forecast is that despite escalating money printing, the law of diminishing returns is catching up with central banks. This next crash is most likely to hit between January 2022 (a likely S&P 500 top already) and early 2024 – and it will be the worst crash since 1929 - 1932. This is the time to protect your business by getting lean and mean, cutting costs and selling off assets and product lines you don’t need. You will benefit greatly longer term as you gain market share from failing competitors who didn’t see this coming. For Investors, normal asset allocation won’t protect you when almost all financial assets are crashing at once. It is the safest longest-term (30-year best) U.S. Treasury bonds (TLT ETF) and AAA corporates that will appreciate even as almost all other financial assets are brought back down to long-term reality, likely brutally and quickly. I estimate that the S&P 500 will fall by as much as 86%, to as low as 670. You only will need to be in this defensive position for about 2 years or so before you can take advantage of the lowest financial asset prices of our lifetime and reinvest very profitably again. There’s the good news in this sobering message! EG

For further information, please visit: www.HarryDent.com Spring-Summer 2022 •

CEOPROFILE

Faith Wilson

Founder & CEO, faithwilson | Christie’s International Real Estate

The fundamental elements of Vancouver’s Westside are two-fold. 24

• Productivity, Strategy, Profitability

CEOPROFILE

Faith Wilson

Founder & CEO, faithwilson | Christie’s International Real Estate

CANADA’S PROPERTY BROKER Our special interview on Canada’s Property Broker profiles the rise of FAITH WILSON, Founder and CEO of faithwilson | Christie’s International Real Estate, a full-service boutique real estate brokerage specialising in the buying, marketing and selling of homes in the Pacific Northwest region of Canada. Executive Global discussed luxury real estate for Ultra High Net Worth clients with the award-winning British Columbia property brokerage that has successfully closed in excess of $1.65 Billion in residential real estate sales. What would you say are the fundamental elements that make the Westside of Vancouver such a desirable place to live? The fundamental elements of Vancouver’s FW Westside are two-fold. First, the enviable scenic backdrop of mountain, water, forest, and fresh air is rare in the world. Secondly, it is a beautiful city that is intertwined with diversity and culture that resonates with so many different EG

www.executive-global.com

people. It captures the imagination of many people abroad when examining where they would like to immigrate to. Great schools, great restaurants and lifestyle, and safe neighbourhood makes it an attractive and desirable place to live. Once people move here, they also realise how convenient it is with shorts drives to the airport, many local restaurants, groceries, and shopping centres, it really is a wonderful lifestyle.

Spring-Summer 2022 •

CEOPROFILE

Faith Wilson

Founder & CEO, faithwilson | Christie’s International Real Estate

Money is cheap to borrow, and Vancouver, the Okanagan and Whistler and Blackcomb Resorts are on the world map. CV FAITH WILSON BORN Vancouver, British Columbia ALMA MATER University of Hard Knocks EXPERIENCE 2022 Established a headquarters in Kelowna, British Columbia. 2017 Faith Wilson Realty Group became affiliated with Christie’s International Real Estate, an iconic 250 year old brand. 2016 Received a Lifetime Award for being in the top 10% of Realtors in the REBGV, now for over 26 years. 2014 Who’s Who in Luxury Real Estate awarded Faith Wilson for Significant Sale 2014 for the sale of The Mayfair. 2011 Opened the doors to our new brokerage Faith Wilson Realty Group. 1995 Top 10% of realtors in the Lower Mainland and each additional year to present day.

EXECUTIVE RECOMMENDATIONS

» PRODUCTIVITY

Have an over-arching plan - execute with diligence and consistency.

» STRATEGY

Current company analysis, creation of plan to grow.

» PROFITABILITY

Profitability in business is a simple equation: income versus expense.

There is a famous statement that says ‘Don’t wait to buy real estate. Buy real estate, and wait.’ To what extent do you agree here? I would agree with that. Timing the market FW is always a difficult thing to do. There are certain factors that may be on the horizon that affects the market one way or another but ultimately predicting the market short-term is a bit more volatile. Take Covid for example, our properties were in high demand, coupled with short supply, that raised the prices. If we look at it from a long term perspective, which real estate is often a long term play, we make our best decisions by analyzing the over-arching data and current market conditions and we move forward. As we discussed earlier, Vancouver is a desirable destination, and the natural scenic landscape – that also to a certain extent hems Vancouver in - is not changing and with limited supply and high demand, the market churns. EG

And with interest rates at unprecedented historic lows, why might now be the absolute best time to get into Vancouver real estate? Interest rates, as you said, are at unprecedented FW historic lows, which means they can’t really get any lower, and in fact it appears they are rising. That being said, even with a small increase it only exemplifies that now is a great time to get into the Vancouver market. Money is cheap to borrow, and Vancouver, the Okanagan and Whistler and Blackcomb Resorts are on the world map. EG

You were inducted as a lifetime member of the Medallion Club, an honour bestowed only upon realtors performing at the top of their field for over two decades. What productivity enhancing measures do you take to ensure you remain in the top 10% of successful agents? It comes from being consistent and ensuring FW that I take care of my daily non negotiables from a business standpoint. Even more importantly, this is a relationship driven business and the most important aspect is making sure the clients and people that I work with are taken care of. It is about ensuring that they know I have their back, keeping them safe, while helping them reach their goal. EG

You sold the most expensive property in British Columbia in 2018. What factors remain consistently evident in the successful marketing and sale of a luxury property?

• Productivity, Strategy, Profitability

Superb visuals and storytelling coupled with an exceptional and comprehensive marketing plan that encompasses a global experience, and networking. Too, tenacious follow up on all potential leads, no stone unturned. FW

And having successfully closed more than a whopping $1.65+ Billion in residential real estate sales, what would you say is the key to success in this market and why do some luxury property brokerage firms succeed where others fail? There isn’t one key to success; success is built FW upon, by demonstrating consistency in integrity, focus and commitment, keeping abreast of valid marketing trends and doing good work for your clients. It also means staying on top of changes in the market, having a basic understanding of the world order and how global events may impact our local market. Ultimately, it is all about the relationship, building trust, being discreet and, doing your best to achieve your clients’ goals. EG

With 30 years of experience and thousands of negotiations under your belt now, if you could advise a young 18 year old agent on how to succeed, what would your advice be and why? Choosing being a Real Estate Advisor as a FW career is very rewarding, it is also a tough job. There is a lot to learn and ensuring you keep your client informed and safe is super important. Interview brokerages and the management, and choose one that offers some mentorship, provides training, and has a hands on managing broker. Keep a positive attitude, time block your day, and ask lots of questions of those at your office. Buddy up with those at your office to host open house events and meet new clients. Take other more experienced agents out for coffee, and pick their brains, most realtors love to help. Again the key is engaging people and creating relationships with people who have a real estate need that you can help them with. Always be looking for opportunities. Remember that this is a career that is built upon, it doesn’t just happen overnight, so choose this career for the long term. EG

Your name is now synonymous with luxury real estate in Vancouver. How do you feel your vast knowledge and experience have enabled you to build such a strong brand in this market? One always requires a certain tenacity and FW focus, and attention to the details. This, backed by integrity and having my clients’ best EG

CEOPROFILE

Faith Wilson

Founder & CEO, faithwilson | Christie’s International Real Estate

How does being an early adopter of digital, mobile and multi-lingual marketing techniques as one of the only brokerages in Vancouver with the ability to offer clients the in-house support of a full service marketing agency, differ from the usual process with other property brokerages? For us, as a brokerage, as with our clients, we FW want to ensure that our agents have the best possible support and that means staying cutting edge in our offering to them as well. We have an in-house listings concierge and a world class in-house marketing team as well, that our agents can take advantage of a strong management team at their service. EG

And as one of the pre-eminent experts in this field, what are some of the key things home sellers can do to make their properties more marketable? We are very sensory creatures, so ensuring FW that we play to our senses, means that a home is spacious and uncluttered, clean, and is easy to understand. This starts from the moment someone drives up to the home: from the boulevard to the front door, everything is an experience, so we want to showcase the home in its’ absolute best light. EG

With a long line of testimonials and satisfied homeowners, what can High Net Worth clients expect when being represented by you? High net worth clients understandably FW expect a high level of service, detail, care, attention, and most importantly, confidentiality and discretion. We make sure that their properties get the marketing and attention they deserve and we put these properties in front of other high net worth individuals. Follow up is key and we ensure that our clients are always kept apprised as we move through the selling experience. EG EG

ABOUT FAITH WILSON Faith Wilson is the founder of faithwilson | Christie’s International Real Estate, and is a REALTOR® with about 30 years of experience. In 2016 Faith was inducted as a Lifetime Member of the Medallion Club, by the Real Estate Board of Greater Vancouver. Proof of dedication to the industry, this honour is earned by Realtors® who perform in the top 10% of all REBGV Realtors® for at least twenty years. this honour is earned by Realtors® who perform in the top 10% of all REBGV Realtors® for at least twenty years.

ACCOMPLISHMENTS

» Awarded Best Project Marketing BC and Best

Real Estate Agency Website for The Americas by the International Property Awards.

» Awarded Best Real Estate Agency Brokerage British Columbia – Single Office by the International Property Awards.

» Received a 5 Star Real Estate Agent award

for Providing exceptional and overall Client Satisfaction.

» Awarded Best Brokerage In Canada by the International Property Awards.

» Company surpassed 1.65 Billion in sales. www.executive-global.com

interests at heart is what builds a business. Too, reputation is key, and discretion is key. Then having the marketing capabilities to expose their properties to the most relevant potential purchasers in an elegant and story telling manner is what pulls the purchasers in. Tell us more about the beautiful Four Hearts EG Ranch listing you have on the market in South Cariboo? Four Hearts Ranch is a stellar, one of a kind FW property. 6,000 acres, 8 homes, one estate home, and beautiful lakes. And a state of the art equestrian centre. The land itself is magical. We took video and photos at different seasons to capture the essence of what it is like to actually experience life at the ranch, it was really rewarding to put this together for our client. You can learn more about this amazing property at fourheartsranch.com.

For further information, please visit: www.faithwilson.com

ABOUT FAITH WILSON For over 26 years, Faith Wilson has helped buyers and sellers navigate Vancouver’s complex residential real estate market. Faith is recognized for her expertise in marketing and selling luxury properties; a testament to that genre is her notable sale in 2018 - the most expensive home sold in British Columbia. She has successfully closed well over 1.65 Billion in residential real estate sales. She began her career in 1993, becoming one of the Top Realtors® in the local Vancouver office. She soon aligned herself with the #1 national real estate brand, where she continued to refine her talent and the results soon followed.

Spring-Summer 2022 •

FINANCE

Monetary Policy

Economic History Always Foretells our Financial Future In political discussion, “Inflationism” opposes hard money principles, which in turn argues that a currency’s actual worth should be preserved through tangible means. The notion is most commonly associated with, and an accusation made against, various schools of economic thought that call for government intervention - either fiscally or monetarily, to attain full employment, says Cheryl Jones.

• Productivity, Strategy, Profitability

https://freedom-school.com/money/human-freedom-rests-on-gold-redeemable-money.pdf

FINANCE

Monetary Policy Photo: Wiliam Perry / Alamy Stock Photo

he famous economist - John Maynard Keynes - once summarised the consequences of inflationism as follows: “Governments may secretly and unobserved- take a significant portion of their populations’ wealth through a continuous process of inflation. They not only confiscate, but they do it arbitrarily; thus, although the process impoverishes many, it really enriches a few. The sight of this arbitrary reorganisation of wealth undermines not only security, but also faith in the justice of the present wealth distribution.”

THE GOLD STANDARD Under the gold standard through which nearly all countries fixed the value of their currencies in terms of a specified amount of gold - or linked their national currency to the foreign currency of such a mechanism, the use of physical gold as representation of a currency’s value, enabled the convertibility of the currency (backed by

THE USE OF PHYSICAL GOLD AS REPRESENTATION OF A CURRENCY’S VALUE, ENABLED THE CONVERTIBILITY OF THE CURRENCY (BACKED BY GOVERNMENT PROMISE) BACK INTO GOLD...

government promise) back into gold at a fixed price - allowing for stability. In order to disregard the implications of the business cycle, which stipulates that the cyclical behaviour of an economy from expansion to recession are the natural ‘ebb and flow’ of a free market place- the gold standard was abolished after World-War II. FROM QUANTITATIVE EASING TO HELICOPTER MONEY Since then, the Post-Keynesian economic concept of Neo-Chartalism, which favours government deficit spending to achieve full employment and has always been criticised as inflationary, has dominated the public discourse, despite historical evidence that such deficit spending will eventually lead to hyperinflation in the long run. Unlike Keynesian economics, the Austrian economic school of thought advocates that an increase in the money supply that is unaccompanied by an increase in the production of goods and services, eventually leads to an increase in inflation. The misallocation of capital, which occurred when www.executive-global.com

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Monetary Policy

Photo: Edward Olive / Alamy Stock Photo

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https://freedom-school.com/money/human-freedom-rests-on-gold-redeemable-money.pdf

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Monetary Policy government intervened to keep interest rates artificially low or high, eventually causes economic recessions, having already postponed the inevitable business cycles of ‘boom and bust’ by kicking the proverbial can down the road. US FED INTERVENTION When the Federal Reserve acquires a bond, mortgage-backed security, or other asset as part of the process of quantitative easing, it is essentially injecting cash into the economy, and the dollar’s value should fall as a result of the increased supply. Although ‘sterilisation’ simply implies that the Fed is not extending its balance sheet (or producing money) when it purchases assets through quantitative easing - since it is absorbing money from elsewhere in the system, it is assumed the Central banks will be operating in the markets and sterilise any such procedure by removing that cash injection from the system. Policy wise, this can be accomplished through three methods: 1. Term deposit: The first—and most common method of ‘sterilisation’ is to pay commercial banks interest on deposits made at its deposit facilities. 2. Reverse Repurchasing Agreements: Another less utilised avenue for the Fed to sterilise asset purchases, is through reverse repos. 3. Interest Rate Hike: The Fed may raise reserve/interest rates, requiring banks to keep a larger proportion of their funds at its deposit facility. US FEDERAL RESERVE BALANCE SHEET Prior to the 2008 financial crisis, the Fed’s balance sheet was approximately $800 billion. However, the Fed’s balance sheet has proceeded since this time to exceed $7 trillion by mid2020, with most of the assets being held mostly in the form of securities and U.S. Treasury bonds in particular. With the US Fed currently holding just under $9 trillion in assets as of midJanuary 2022 after having more than quadrupled the amount it had from early-2020 and reduced longterm borrowing costs for businesses and individuals facing financial difficulty, the Fed’s dual mandate which compels it to maintain both price stability and maximum employment, pushed modern economic monetary policy to the extreme, but to no avail. The 2007-2008 financial crisis, on the other hand, proved that even reducing interest rates to zero was deemed insufficient to support www.executive-global.com

collapsing economies, and the Fed resorted to more unorthodox measures. When the Fed began to wind down its asset purchase programme in 2013, it provoked a socalled ‘taper tantrum’, an event where investors panicked and set off a selling-spree in bonds, followed by a rise in Treasury rates. As a result, Asian developing markets saw significant capital outflows and currency devaluation, pushing regional central banks to raise their respective interest rates in order to defend domestic capital accounts. With the US Fed now forever at work to prop-up plunging equity markets across the globe, the potential risks of the combined crossparty US Economic Stimulus rescue bill, and the Fed’s biggest-ever financial bazooka, have seen the US Dollar under pressure as the world’s reserve currency. Obama Administration - 20 January 2009 – 20 January 2017 - The Federal Reserve’s balance sheet contained around $4.5 trillion of debt. After taxpayers had dealt with the pressing matter of bailing out banks, insurers, and automakers, the central bank undertook much of the heavy lifting over two presidential terms, and under Chairman Ben Bernanke underwent QE1, QE2, QE3 and ‘Taper-tantrum’ measures. Trump Administration - 20 January 2017 - 20 January 2021 - The Fed pushed over $1 trillion into the economy through the first quarter of 2020, with Fed Chair Jerome Powell pledging never-beforeseen amounts of money printing and so-called ‘quantitative easing to infinity’ through an endless bond-buying programme. Biden Administration - 20 January 2021 To Present - Federal Reserve Chairman Jerome Powell’s plan has received praise from Joe Biden as he moves towards tighter monetary policy, winding down the Fed’s easy-money measures that were used to protect the economy following the global health event. Fed policymakers have indicated that interest rates would be raised multiple times this year, most likely beginning in March 2022 in an effort to contain inflation, which is increasing at its highest rate in over 40 years. THE ECSTASY OF GOLD The notion that ‘Human Freedom Rests On Gold Redeemable Money’, speaks far greater volumes than in the days of the late U.S. Congressman Howard Buffett’s prescient paper, touting the realisation that in spite of the gold standard largely being abandoned due to its perceived price volatility, the scarcity of the precious metal was a limiting factor to exuberant government expenditure via the printing-press (QE), or easy money printing of fiat-currencies by acting as an ‘internal restrictive mechanism’ on inflation overwatch. The move-away from the traditional gold standard was based on the perceived volatility of the precious metal, as well as the limits gold reserves place on government finances in terms of not being able to artificially maintain fixed exchange/interest rates, participating in expansionary measures or reducing unemployment during economic downturns through the use of ‘shovel ready’ jobs.

Although the independence of central banks was once held sacred, Margaret Thatcher, former Prime Minister of the United Kingdom, was deeply concerned about an autonomous European Central Bank that would “be accountable to no one, least of all national parliament.” It has become a contentious point against recently adopted technocratic measures, as the element of responsibility and accountability on how to combat inflation or a recession, is removed from nations that are impacted by Central Bank decisions. ANCIENT RISK OF MORAL TURPITUDE Another common objection in Europe is that quantitative easing causes more moral hazard for governments than the problems solved in the long-run. Market discipline in the form of rising interest rates in particular, can be utilised to compel governments to reconsider increasing deficit expenditure with ‘Shovel-ready jobs’. However, this is not the case when a central bank operates as a bond buyer of last-resort and is willing to acquire government assets indefinitely (i.e. QE infinity), rendering the concept of market discipline ineffective under the distorted investing conditions that we now find ourselves in.

THE NOTION THAT ‘HUMAN FREEDOM RESTS ON GOLD REDEEMABLE MONEY’, SPEAKS FAR GREATER VOLUMES THAN IN THE DAYS OF THE LATE U.S. CONGRESSMAN...

Between 1921 and 1923, the German Papiermark, the currency of the Weimar Republic, experienced hyperinflation- most notably in 1923. It resulted in significant internal political instability in the country, the occupation of the Ruhr by France and Belgium, and overall suffering for inhabitants of the country. 100 years later, the world’s largest economy - now following in the footsteps of the Ancient Greeks, Romans and other civilisations that printed money until civilisational collapse - finds itself caught between a rock and a hard place having nurtured dependence on the US Fed for artificial life support, and therefore created a negative feedback loop with ever finite possibility of lifting interest rates from the zero-bound (0.25% interest rate) without ushering in the inevitable delayed economic recession that was kicked down the proverbial road since market manipulations began back in 2008. Prudent investors must consider all methods available to hedge against hyper monetary inflation. EG Spring-Summer 2022 •

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Monetary Policy

The Second Bank of the United States We can today so clearly see humanity’s failures of the past. A somewhat smug contentment that we are more savvy modern humans, often pervades our investigations of the past as well. Yet we are nothing if not living through the conditions created by very recent lapses of human integrity, surrounding our financial affairs, according to Shannon Berkley. oday’s central banking systems are a tragi-comedy, the result of America giving a handful of men the right to print money, and no one else. While most people will scoff at those who state the obvious, prior to the Fed’s emergence to become today’s stranglehold on people’s endeavours, freedoms, indeed lives, the idea of a private, centralised “reserve” bank was far more openly, vigorously, and logically opposed. Today we’re accustomed to terms like fiat, banking, interest and GDP, and the various houses and systems of giant money interests. The very fact that fiat is nothing but a somewhat unusual term masking what is ostensibly the most unfair licence ever granted on Earth, tells a story. The origins of the word fiat have biblical origins too, besides their Latin roots. In the original Latin translation of the biblical book of Genesis, it means “let it be done.” That was God’s right then. That a mere 50 years ago it became the government’s right — from God to politicians, and massive money — is nothing if not bizarre. That is what our fiat currency is: something worth so much because the government says so by authoritarian convention. A dark moment happened around 50 years ago, when a dark crook entered the White House. When President Nixon decoupled the US dollar from gold circa 1971, a global system of national fiat currencies became the norm. It’s hard to overstate just how big an impact Nixon had on the globe, when one considers the petrodollar’s reign, alongside other American manipulation of the world order in its interests, and this for the longest time. Sir Josiah Stamp infamously said: ‘‘Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again.” Stamp was a director of the Bank of England, and chairman of the London, Midland and Scottish Railway, among other things. It’s really unashamed historical statements like these that one simply can’t imagine being acceptable in today’s world. That,

however, is clearly more veneer than the granular truth of society, because here we are. Most citizens will absorb such statements, if they encounter them in research at all, and get right back to modern life as we know it. The life that is now wearing thin for countless millions. CENTRAL BANKING ARISES AND STAINS THE AMERICAN LANDSCAPE Described by then US President Andrew Jackson as “dangerous to the liberties of the people”, central bankers could be seen to be scheming miles ahead of the gullible public at the time he held office. Inaugurated in 1829 as US President, Jackson inherited an already incestuous and obnoxious state of central banking.

...MONETARY DEBASEMENT OF CENTRAL BANKS HAPPENS BECAUSE OF THEIR CONSTANT WILLING EXPANSION OF THE MONEY SUPPLY AND THE EXTENSION OF MORE CREDIT...

He governed for the American public as a general looks after his troops. A tough military commander from the army, it seems Jackson was the last American president to wield such power over capital, also surviving an assassination attempt while in office. Even before Jackson, both Thomas Jefferson and James Madison had firmly opposed the idea of a central bank when Alexander Hamilton first mooted it in 1790. Notwithstanding, it passed into law the following year, and the First United States Bank came into being, sporting a 20-year charter. Likewise, it was Henry Clay whose voice rang in opposition in 1811, when the rechartering of

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the bank was sought in Congress. It seems most agreed with him, and the bank wasn’t rechartered for some time. During this time, private banks were issuing their own currency to the American people, and the failure of a forward-thinking alternative to emerge allowed the notion of central banking to return to “clean up” the monetary mess. The Second United States Bank came into being in 1816, after Congress was divided over two options: (1) a gold backed regulation for all commercial banks; (2) or the central banking system. The Old Federalists won, to the utter detriment of everyone born since. All of the intrinsic problems of central banks that Jackson identified in the Second United States Bank are today compounded in a stronger Federal Reserve Bank (and other central banks). Indeed, today’s central banks are creating more problems than the first two American central banks ever did. Whether the average citizen understands it or not (and they generally don’t), every penny of housing, commodities, gas and food price inflation is squarely the result of central banking induced inflation, with government spending featuring throughout as either beneficiary or driver of money supply. It would in fact be quite comic in construct, if the results of this self-help, cross-pollination club weren’t so terrible for all of us on the outside. MONEY FLOWS UP, NOT DOWN. WHAT FLOWS DOWN IS INFLATION The fact that governments spend in the face of our worsening financial status and quality of life is bad enough, but the fact that deep state pals are always first in line for “relief ” packages touted as being for the common man, takes their callousness to a level of evil that shouldn’t be a part of our politics. If there is any doubt about whether central banking is a rich pals club, just follow the money to find the allocations ostensibly destined for the needy in moments of crisis. The current general decline in living standards can all be directly attributed to the monetary policies of central banks. Not to a “war in Ukraine” or some other handy excuse — a “pandemic”, a “supply chain collapse”, or “cyber attacks.” The monetary debasement of central banks happens because of

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Monetary Policy their constant willing expansion of the money supply and the extension of more credit, the latter through the monetisation of debt. If the current system maintains cash flow upwards, there is nothing the bankers will not throw under the bus to keep it going. The notion of central banks is a vulgar power grab so large it today eludes the understaanding of the citizenry. It eluded citizens’ understanding from the start. This was at the outset and remains quite apropos, as the bank’s shareholders were and are still all from the elitist aristocratic classes, and thus have an entirely different experience of life, and money in particular. CENTRAL BANKING AND YOUR WALLET When the common man has no money, he stays at home. Not so for governments, who know that there is an essentially limitless supply. The only reason governments can be such pompous, corrupt, and barely efficient parasites on society in this manner is because the cost of this arrogant march to massive deficit and doom is quietly passed on to the citizenry as the invisible tax we know as inflation, another rather blameless and anonymous

euphemism for robbing the people who are really building the country. It’s not all corrupt of course, and governments to a greater or lesser degree do produce some infrastructure and other development, otherwise the house of cards collapses. Nowadays, however, especially looking at where the supposed “Covid relief ” went in America, it’s obvious that big money regularly does well when there’s a handout from the Fed, with that cash having been publicly laundered by government allocation. Before governments lost their legitimate mandate and were still somewhat representative of the people, the central bank was not at the top of the pile. Indeed, during the time of central bank charters and their implications, President Jackson issued a now famous tirade, saying:

“Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, I will rout you out!” Inflation, asset price bubbles felling thousands if not millions on a regular basis, business cycle amplification, debt bubbles, unemployment (or inflation — you choose citizen!), taxes that join the upward spirals of cash. These are all the results of the system. THE PROBLEM WITH KEYNESIAN ECONOMICS Keynesian economists are those who typically advocate a market economy, which is broadly private commerce and industry, but with an intervening Big Daddy role played by the government during recessions or depressions. It sounds great, but it appears that the “small” role

Photo: Wiliam Perry / Alamy Stock Photo www.executive-global.com

Spring-Summer 2022 •

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Monetary Policy for the government, especially when operating against the backdrop of central banking’s monetary hegemony, is enough to poison the whole affair. One is left wondering how these economic policies ended up being the largely preferred model, but their marketing budget must have been huge. They’re the preferred policies of mainstream economists, because the mainstream is where they compete, and they’re preferred by central banks, because it’s a mighty handy justification for their very existence. Named after British economist John Maynard Keynes (who prophetically stated that “in the long run, we’re all dead anyway”), Keynesian policies are seized upon by contemporary monetary scientists and central bankers, who continue expansionist policies with similar fatalist abandon, as is evidenced in multi-trillion-dollar “infrastructure” spending today. Keynesian economics says that demand is volatile, hence unstable, and at times when demand is low, society will experience a recession on the back of inefficient macroeconomic outcomes.

Conversely, when demand is high, inflation occurs. It argues that such fluctuations should be mitigated by economic policies developed by central banks, in tandem with anticipated government spending needs. Broadly billed by many voices as a good deal for the citizenry (as it allows the common folk to avoid boom and bust cycles through its stabilising architecture), anyone who has experienced the constant erosion of their lifestyle over the last decades, knows the model fails the common man. There are also worse things to experience than good and bad times, and to have allowed the constructive good neighbourliness of a bygone era to be replaced with “stewardship” by governments in cahoots with bankers as market regulators, seems today an almost fatal error of humanity. It was Ronald Reagan who said that “government is like a baby — an alimentary canal with a big appetite at one end, and no sense of responsibility at the other.”Although remembered more as senile and doddering towards the end of his tenure, Reagan

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was a supporter of the gold standard, stating that “no nation in history has ever survived fiat money, money that did not have precious metal backing.” He was shot and wounded in 1981, joining other presidents that were on the wrong side of central banks, and also fell victim to attack. Rather than a testament to our stupidity, in all fairness to the citizens who watched such obnoxious legislation waft onto the statutes decades ago, that central banking succeeded as a concept is more a testament to the loss of innocence and overall learning curve modern humanity needed to encounter, in order to realise how far ahead of the game dark money interests usually run. THE BANK THAT GOT KILLED BY A PRESIDENT When the Second United States Bank was incorporated to act as the government’s financial agent over 200 years ago, it too was given a 20-year charter. Thus while Jackson was still a sitting president, that term expired. Corruption

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Monetary Policy scandals had plagued the bank, and many common Americans (and especially farmers) believed — rightly as it turns out — that the central bank was merely a scheme to enrich the nepotistic wealthy. Jackson feared the development of the very cabal we are today plundered by and foreign influence over America. Around 80% of the shareholding of the Second United States Bank, being a private concern, sat with local bigwigs but also many foreign interests. He distrusted the institution of the central bank, although he understood its role in the fiscal architecture. Like Jefferson and Madison before him, he questioned the constitutionality of the original arrangement that saw government licence a central bank, as well as the constitutionality of the bank’s ongoing existence. Jackson saw that by killing a central bank’s stranglehold over the economy, there was a chance of fully restoring free-market capitalism. He favoured control by the states, not Congress, of American banking. As it turned out, Maryland

State started the first real opposition, when it attempted to pass legislation limiting the bank’s tentacles in the state. The bank won in the Supreme Court, but it left an open wound on Jackson and his camp. The Second United States Bank tried to leverage Jackson’s reelection campaign to their benefit, but Jackson squirmed free and, due largely to his forthright manner and obvious distaste for special interests, won a landslide victory. This was also the moment in which the bank was pushing for a renewed charter to be passed by Congress, so, upon reelection, Jackson killed the bank. He declined to recharter the bank, and Congress was too intimidated by his popularity to fight him. Removing the ugly power of the central bank at the time makes Andrew Jackson certainly one of the greatest presidents in the history of the United States of America. WHEN THE BANK SHOT BACK Other presidents such as the 20th, James Garfield, stated that “coin of ascertained weight and fineness, duly stamped and authenticated by the government, is the only safe standard of money; and no form of credit-currency is safe, unless it be convertible into coin at the will of the holder.” William McKinley, the 25th American president, also rejected the expansionary monetary policy of ‘‘free silver”, preferring to keep the nation on the gold standard. Both were assassinated for their attempts to enforce sound monetary policies. That was a long time ago, yet whacking an American president was already regular fare. That is how quickly central banking became murderously dark, the fruit of dark intentions at the outset.

REMOVING THE UGLY POWER OF THE CENTRAL BANK AT THE TIME MAKES ANDREW JACKSON CERTAINLY ONE OF THE GREATEST PRESIDENTS IN THE HISTORY OF THE UNITED STATES OF AMERICA.

Photo: Mark Summerfield / Alamy Stock Photo www.executive-global.com

It’s interesting to note that the father of one of the world’s greatest investors, US Congressman of the state of Nebraska, Howard Buffett, penned a paper echoing the sentiment of the dead presidents Garfield and McKinley, called Human Freedom Rests on Gold Redeemable Money. Again turning to the fraternity of statisticians, there seems an undeniable link between the assassination of sitting American presidents and their advocacy of “hard money” policies, beyond random chance. No such fate has been met by presidents

that supported the “easy money” or inflationary alternatives. There was an assassination attempt on Jackson, but the attacker’s gun jammed twice, although authorities found it fired perfectly upon subsequent testing. This stroke of serendipity granted US citizens nearly another century of liberty, until the Federal Reserve Act was passed in 1913. While the military-industrial complex were obvious suspects in the assassination of JFK, a president who wanted America out of Vietnam, it’s as true that the issuance of silver certificates at Kennedy’s order made him dispensable too. He was killed five months after issuing the silver certificates Executive Order — another wrong-side-now-dead statistic in the war between bankers and presidents. CENTRAL BANKING TODAY IS DARK What has central banking’s ugly quest for dominion gotten us? Where are we today? Central banks exert a total stranglehold over economies that always cheapens the quality of life of the citizenry, while solidifying stupendous wealth at the top end. It’s like a lava lamp where the big chunks keep floating upwards, and that flow is on view every day for those who care to take the time. For those still hearing the “for your own good” narrative, life is surely not so grim, but for those with deductive reasoning and some analytical skills, it’s clear that nothing less than the worst of our former barbarism has survived in central banks, now just wearing a suit. The current frankly megalomaniacal attempts to “digitise” economies (under the cover of engineered crises) by touting central bank digital currencies (CBDCs) without necessity, debate, plebiscite, without elected authority, or the will and consent of the governed, is what we get for allowing good leaders to die in silence, at the hands of those who want to own everything. It’s now a frequently reported reality that the Fed and every other central banks are inching closer towards digital fiat systems — systems that for them represent an absolutely exquisite level of ownership and control. Regardless of one’s political point of view, it’s also clear that the central bank’s idea of our digital money future is antithetical to the free societies we live in, and more aligned with the totalitarian regimes of Stalin, Lenin, Hitler, Mussolini, Trotsky, Mao, Pol Pot and the CCP. This can be seen by anyone who bothers to make the comparison. Ergo, it’s axiomatic that for our freedoms to remain intact, and our economies to remain strong, we need to return to sound monetary policies, linked to gold, and limited monetary expansion. This would stabilise prices in all asset classes, reduce the cost of living for the average person and improve quality of life and prevent central banks from perpetuating their unaccountable status, while riding roughshod over the liberty, freedoms and monetary sovereignty of all citizens, which is much more in line with President Andrew Jackson’s vision for the United States of America. EG Spring-Summer 2022 •

FINANCE

The Morgan Report

Silver is Analog

Article by

David Morgan PUBLISHER & CEO, THE MORGAN REPORT

oreover, a silver deficit was eating away 100 million ounces per year. What could be better? Buying low, not only low but the lowest price ever, and what you are buying is in such high demand that the above-ground stocks were being depleted rapidly. What I discovered was people do not buy bottoms! Investors were not purchasing silver. After all, it was coming out of a twenty-year market that hovered around $5.00 USD and stayed there, hardly moving. This, of course, spelled OPPORTUNITY!

Almost two decades ago, I was asked by a significant precious metals dealer in the U.S. to do a presentation on the merits of silver investing. The timing was perfect, and silver was at an all-time low when adjusted for inflation.

WARREN BUFFETT LOVES SILVER There were a select group of investors who did buy silver. The most notable was billionaire Warren Buffett. Warren talks gold down, but he loves silver. Buffett purchased almost 130 million ounces of silver off the Exchange, and the market rocketed up from five and hit the eight-dollar level very briefly. This was a physical purchase, but long-

time billionaire friend Bill Gates bought many Pan American Silver shares. My conclusion is that the (very) smart money was buying silver. Still, most money managers, pension funds, retirement accounts, family offices, and banks were not interested at an all-time low. Forbes Magazine did a feature article on Buffett’s purchase. It produced an inflation-adjusted price versus time graph, proving that silver has sold for $200 per ounce from the year 1300-to 1600, roughly three hundred years. The all-time high in 1998 “dollars” was over $800 per ounce. Now is the time to look at silver again- why? Because silver is almost as cheap now as it was

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when Buffett purchased it on an inflation-adjusted basis. Secondly, a constantly growing industrial demand predicts that there potentially will not be enough silver mined and recycled in ten years to meet demand. Third, the market is manipulated, which gives pause to many investors, but the truth is ALL markets are manipulated! Yes, stocks, bonds, real estate, commodities—every one of them. The typical pushback is that real estate cannot be controlled. Yet, Real Estate depends on the mortgage rates, and the Central Banks manipulate interest rates. To break it down into simple terms, you are affecting all markets if you can control (manipulate) the price of money!

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The Morgan Report Photo: Zerilli Media / Alamy Stock Photo

We are entering the end of significant inflation. The U.S. dollar and de facto world currency are worth just 2% of what it was in 1913 when the Federal Reserve was founded. That is correct. Out of 100 cents just over 100 years ago, only 2 pennies of purchasing power remain. This is a failure, and the banking establishment knows it but will never admit they are the cause. DIGITAL AUTHORITARIANISM There is a plan, and it is called Central Bank Digital Currency (CBDC). Banks can be irrelevant in today’s digital era, and the Central Bank could oversee issuing “currency” directly to your wallet. This is a banker’s dream because they can trace, track and tax every transaction. At some point, cash will be eliminated, and your “credit” score will be based upon your adherence to the political whims of the ruling class. This is already done in China and is called a social credit score. Go along with Big Brother, and all is well. Show any “incorrect” behaviour, speech thought, and the amount of currency held in the Central Bank wallet is irrelevant. You will not be able to access your cash because of a poor social credit score. In other words, CBDCs are entirely antithetical to any concepts of sovereignty, autonomy, and Freedom in our modern society. www.executive-global.com

As this writer has stated, money is power, and those that create “money” can centrally plan the economy. Most people will sell out for money. It does not take much vision to see most of the political class globally are bought and paid for. Many of the top executives of prominent corporations are politically motivated to make laws that benefit them over others. Corruption is present throughout the system, banking, health, education, justice, and even sports. The cryptocurrency market promises to become your bank and bypass the established system altogether. This is a noble idea for those that think they have a right to determine their financial transactions without government interference. However, the promise is mostly hype because almost everyone is required to pass a know your customer verification before any crypto can be purchased from an exchange. There are ways to transact in the current crypto world and remain anonymous, but it is outside the scope of this article. METALS-BACKED CRYPTOS ARE BETTER There is still much pain in the cryptocurrency concept as many of the thousands of tokens (coins) are worth nothing. Perhaps during this downtrend, this will be sorted out, like the technology stock shakeout in the early 2000s, where many new companies disappeared. Look for something similar to take place in the crypto world. Some will remain just like Amazon and Yahoo did in the tech wreck. One subset that exists is cryptocurrencies that are backed by precious metals. This is an area where potentially massive growth exists because most of these coins are nothing more than a name and a cut and paste open-source software when the great shakeout occurs. There is nothing more stable than a troy ounce of silver or gold, and these are genuinely the ”stable coins” of all time. The digital currency required for purchase changes because countries depreciate (inflate) their currencies at different rates. As an ambassador for the Lode project, we are constructing the digital money of the future- see (https://ag.lode.one/ ) Lode is a community of sound money enthusiasts who have come together to build a more inclusive and fair global monetary system. The comprehensive platform allows anyone to seamlessly send, spend, and pay with digital silver and gold. It is difficult to instil the importance of sound money in today’s world because so few people understand what happens in a fiat system that fails. We are approaching that day rapidly, and when it occurs, almost every human being will know that you cannot print wealth. The benefits of the Lode project are >Bimetallic >Blockchain Secure >Convenience >Portability Economic history has a profound lesson-having an economy running on bimetallism, which offers all the advantages and none of the drawbacks of government-issued digital fiat, provides stability

to ALL people. Furthermore, no guesswork is involved, which means a “dollar” today has the same purchasing power in 100 years. Now that is monetary stability! The precious metals have been disappointing to precious metals investors during the first half of 2022. With inflation officially hitting records not seen for 40 years, many are baffled that gold and especially silver have not reacted to the apparent inflation in food and energy prices. PRECIOUS METALS GIVE YOU FREEDOM Economics is a study of Human Action, as Mises explained in his book. People will look to whatever means possible to protect themselves from a no more extended trust system. Those living paycheck to paycheck will buy extra food if their budget allows. Those in the middle class will do the same and be wise to have some real money set aside outside of the system. Once trust in the system, financial and otherwise, is lost, it is almost impossible to get it back. Yes, there could be a “new order” that the banking establishment have already developed, but it does not have to be your destiny. If enough people placed part of their savings into precious metals, the power of money would come back to the people. It would only take one or two percent of the population. Change the money and change the world, what a concept.

IF ENOUGH PEOPLE PLACED PART OF THEIR SAVINGS INTO PRECIOUS METALS, THE POWER OF MONEY WOULD COME BACK TO THE PEOPLE. IT WOULD ONLY TAKE ONE OR TWO PERCENT...

It is still a near certainty that there will be a “run to gold” unlike any witnessed in the past. However, it will be relatively brief and there is a possibility that the market freezes up because precious metals holders are not willing to sell for a currency that is failing. Is this likely? No, it is more likely that the current system will morph over time into a wholly controlled digital nightmare. However, those who have actual money, either physically or digitally, will have something priceless-- freedom. Here I mean some financial freedom, but unfortunately, if the powers that be win, Freedom as has been known in the “free world” will be lost for a long time. EG

For further information, please visit: www.TheMorganReport.com Spring-Summer 2022 •

ALAN F. SCHWARZ CEO of FXSpotStream

“

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LEGAL & ADVOCACY

Gomez Tomiczek International Group Photo: Jacob Lund / Shutterstock.com

Legal Services For High Net Worth Individuals How To Obtain a Golden Visa in Panama? Article by

Abel Gomez

FOUNDING PARTNER, GOMEZ TOMICZEK INTERNATIONAL GROUP

pting for a plan B and obtaining a second permanent residency has never been easier since the creation of the Golden Visa for qualified foreign investors in Panama. Unlike existing immigration categories, the Golden Visa has four important advantages: 1. Special VIP desk for the submission and processing of the Golden Visa application. 2. Accelerated processing of the application (30 days procedure). 3. Possibility to submit the application through a lawyer without leaving your country of residence. 4. One-time application which grants investors permanent residency in Panama.

BUT WHY SHOULD I INVEST IN PANAMA? Panama has a low crime rate and can be considered the most secure country in the region. Besides its fantastic tropical climate, you will find a diversity of places to live and invest: beaches, islands, highlands, and a modern capital city (some might even call Panama City the Miami of Latin America). The country offers a multicultural community and a fully dollarized economy, being a financial hub with over 60 international banks. Throughout the years the government of Panama has signed 23 Free Trade or Commercial Agreements spanning 60 countries. Not only is Panama a digital hub (95% of all digital communication in Latin America goes through Panama) but also a logistics hub and the most connected country in Latin America with daily flights to 90 destinations, connecting 2 oceans through the Panama Canal and 5 major maritime ports. How Does The Golden Visa Differ From Other Investment Visas? - Unlike other existing investor visas the Golden Visa offers the possibility of obtaining permanent residency in Panama within 30 days with a single application. The investment must be maintained for a minimum period of five (5) years (which is reviewed annually by the government), if it is liquidated prior to the fulfilment of this period, it will result in the cancellation of the already approved residence permit.

A very interesting detail of the Golden Visa is the fact that the application can be submitted through a lawyer without the need to leave your country of residence and travel to Panama. Previously, in order to apply for a residence permit in Panama, it was necessary to appear in person at the immigration office. For the Golden Visa, the National Immigration Service established a special department to receive and process these applications, an exclusive VIP counter. In addition, the government is obliged to process the application within a maximum period of 30 working days.

WHEN YOUR OFFER IS ACCEPTED BY THE SELLER, THE LAWYER CAN PERFORM LEGAL DUE DILIGENCE ON THE PROPERTY AND ENSURE THAT YOU’RE NOT PURCHASING A PROBLEM.

This means that an attorney can submit applications even before the applicant and their dependents travel to Panama. Once the applicants arrive in Panama, they must go through the normal passport registration process to receive their migration ID card. How Do I Qualify For The Golden Visa? There are 3 ways to qualify for the Golden Visa: 1. Real Estate Investment: Minimum amount of investment is $300,000 (Starting October 15, 2022, the minimum amount required for real estate investment increases to $500,000 for new applications). 2. Investment in the local Panamanian Stock Market: Minimum amount of investment is $500,000. 3. Open a time deposit in a local bank: Minimum amount of investment is $750,000. OBTAINING YOUR GOLDEN VISA THROUGH REAL ESTATE INVESTMENT In order to qualify for the Golden Visa through

• Productivity, Strategy, Profitability

real estate investment, the property must be acquired before the application is submitted. There are no legal requirements regarding the usage of the property: It is possible to invest in a house, apartment, commercial property, agricultural land or wasteland, etc. The type of real estate available in Panama is very diverse. Recently, we can observe two trends of real estate buyers in Panama: buying unique properties in the interior and investing in centrally located apartments in Panama City with the aim of renting them out, thus creating a passive source of income (as a provision) in the long term. Buying real estate seems easy, but there are common mistakes and problems you can easily encounter if you do not take into account the following: Look for an honest, reliable, English-speaking real estate broker. There are real estate agents who are more concerned about charging their commission quickly, rather than finding the right property for you. Besides a competent and professional real estate agent you also need a reliable and trustworthy lawyer who speaks English or another language of your choice. Remember, the Laws and the legal basis in Panama are not the same as in other countries. You should not sign contracts or legal documents that were not reviewed by a trustworthy lawyer. When your offer is accepted by the seller, the lawyer can perform legal due diligence on the property and ensure that you are not purchasing a problem. If you have doubts about a transaction, seek advice from an experienced lawyer who will not only protect your interests during the purchase transaction, but also your wallet by avoiding problems in the future. Remember, the commission of the real estate agent is paid by the SELLER, not the buyer as it happens in Europe. WHAT SHOULD I PAY ATTENTION TO WHEN INVESTING IN PANAMA? First, Location is everything. When considering an investment option, buy location, not price. Some details are cosmetic and can be solved in one way or another, but real estate options can be called an ”uncontrollable risk”. Whether it’s a lawsuit, a conflict of interest, or some kind of encumbrance. Unless you like to play Russian roulette, don’t get distracted by the ”flashy” details of a property. The purchase of real estate should be structured well from the beginning to avoid headaches and bad surprises in the future: Are there any annual taxes that must be paid? What will be the taxes to pay when you

LEGAL & ADVOCACY

Gomez Tomiczek International Group sell your investment? Which legal figure is the most convenient to acquire real estate? If you are looking to invest in a condominium in Panama then inquire about the maintenance fees and what services are included. Do all apartments pay the same? Is the Board of Directors of the condominium working properly? Do they have an administrator for the building? How are the finances of the condominium association? Under Panamanian law, you are entitled to that information. MAKE THE INVESTMENT IN MY PERSONAL NAME OR THROUGH A FOUNDATION? The National Immigration Service of Panama allows the investment to be made either as a natural person or in the name of a legal entity (company or foundation), as long as it can be proven that the main applicant is the final beneficiary of the company/foundation which is the legal owner of the property (in this case, additional documents must be submitted). Keeping in mind that due to the inheritance law in Panama we always recommend purchasing real estate in Panama by using a foundation. If you hold assets in Panama, in your own personal name, regardless of whether or not you have a will, a probate proceeding must be completed after your demise. In order to do so, it is necessary that your heirs hire a lawyer in Panama to file a probate lawsuit (tested if there is a will, or intestate if there is no will, which in practice is almost the same procedure). Your file must go through different stages and hands in the Court and once all the formalities are completed the judge will make a decision and assign the final beneficiary(ies) and just at that moment, transfer the ownership. Legal procedures in Panamanian Courts take their time, and even under the best conditions, it will take at least two years until your heirs have the right to transfer your assets to their names so that they can finally sell them. In the meantime, they will have to pay for expenses, and lawyer’s fees (15% of the total inherited assets according to the minimum lawyer’s fee in Panama), among others. A foundation can ensure that after your death, your estate passes to your chosen beneficiaries without any stressful complications, delays, or litigations. For legal purposes, the assets of a foundation constitute a separate estate from the assets of its founder and the beneficiaries. Just as in a will, the foundation’s private by-laws govern the conditions of the foundation. It can be established how the assets will be distributed, and who has control over the administration of the foundation’s assets. Nowadays the commercial registry of the foundation can be filed electronically, making the registration process more expeditious, less complicated, and without the founder having to travel to Panama. Knowledge in legal matters helps you to make an informed decision and protect not only your investment and assets, but also your family, heirs, and loved ones. EG

For further information, please visit: www.gomitom.com www.executive-global.com

Spring-Summer 2022 •

LEGAL & ADVOCACY

Nevis FDI

Trusts & Estate Planning in Nevis Nevis has a Trusts Act in place, which was passed in 1994, making it one of the most favourable tax jurisdictions for High Net Worth Individuals. Offshore trusts are used by many individuals, families and organisations to manage and preserve their assets, reports Oliver Taylor. he trust agreement’s contents are strictly confidential, and it is frequently used instead of a will when the settlor wants only a select few people to know about the terms of the inheritance transfer. Furthermore, the establishment of a trust and the transfer of an inheritance through an offshore trust aren’t subject to a lengthy and expensive official approval process.

BENEFITS OF AN OFFSHORE TRUST IN NEVIS If a trust is registered under the Nevis International Exempt Trust Ordinance, it is exempt from all income tax, all estate and inheritance taxes, stamp duty on all instruments pertaining to the trust property or to transactions carried out by the trustee on behalf of the trust, as well as any and all exchange controls. An individual’s assets are often transferred to an offshore trust in Nevis to protect them from creditors. As soon as the assets have been moved there, the settlor is no longer considered in their ownership. Thus, the assets can not be

confiscated in bankruptcy, divorce, or by a foreign court order since the settlor no longer legally owns them in their country. Because the beneficiary of the offshore trust is not deemed the owner of the assets, no tax claims can be filed against them. Only one’s personal income from the trust is subject to taxation. Other roles of offshore trusts include safeguarding against beneficiary waste and maintaining privacy, as the contents of the trust agreement are known only to designated persons. When a trust is utilised as a will, the settlor can rest easy knowing that their desires will be kept private, and there won’t be any time-consuming and expensive probate proceedings. A trust deed, unlike a will, is absolutely confidential. MORE ABOUT NEVIS Nevis is an island just southwest of the Virgin Islands, with a population of 12,000 and Charleston as its capital. With a 96 percent literacy rate, it is among the most politically stable countries in the Western Hemisphere. It is a sovereign nation and a member of the Commonwealth, thus its legal system is also founded on the British common law. The country’s individual taxation system is

AS SOON AS THE ASSETS HAVE BEEN MOVED THERE, THE SETTLOR IS NO LONGER CONSIDERED IN THEIR OWNERSHIP. THUS, THE ASSETS CAN NOT BE CONFISCATED...

regarded as one of the most favourable in the world: global income, inheritance, wealth, and gifts are not taxed under Nevis’ jurisdiction. A 20% capital gains tax is payable only if the asset is sold under 12 months after purchase. VAT is charged on products and services sold and imported on the islands, at a rate of 17%. Certain goods and services may have zero interest rates. EG

Photo: EQRoy / Shutterstock.com

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FDI & INWARD INVESTMENT

Vanuatu FDI

Trust and Company Formation, Tourism and Business in Vanuatu When it comes to pristine business and offshore environments, Vanuatu (officially the Republic of Vanuatu) is a rising star. An island country sitting almost 2,000 km east of Northern Australia in the South Pacific Ocean, the volcanic archipelago is east of New Guinea and west of Fiji, says Rachel Smith. ertainly not a common name in offshore destinations, Vanuatu’s growing attractiveness is partly because of adamant pro-business policies from the government. It’s also because, after the shake out following the last decade’s anti-money laundering laws making global waves, Vanuatu has the opportunity to learn from everyone else’s mistakes. Comprising some 82 smaller islands, Vanuatu has twice been voted “the happiest place in the world” — in 2006 and 2008. The country is serviced by Bauerfield International Airport, located in the capital, Port Vila, on the main island of Efate. The population of just over 44,000 may seem insignificant, but when one considers that it’s doubled since the 2009 census, clearly the Happy Planet Index as well as local government policies are spot on.

FOREIGN BUSINESS IN VANUATU The four pillars of the island economy are agriculture (with a warm, tropical climate yearround), tourism (a beautiful island archipelago in balmy seas), offshore financial services, and cattle farming. Vanuatu might be just appearing on high net worth individuals and business’ radar, but even before independence from France in 1980, the country enjoyed tax haven status. For decades now, Vanuatu has been quietly going about its business while other jurisdictions made headlines. The government has kept up the country’s preindependence status as an international financial center, and today some 2,000 registered institutions cater for a wide range of clients’ needs regarding offshore banking, investment, accounting and insurance, as well as legal and trust matters. There are many advantages for businesses and individuals that the region presents, especially in the current markets. For one thing, Vanuatu is a politically stable country with a very small wealth gap amongst the local population. There are also no direct taxes nor exchange controls. The kind of indirect taxes and fees levied upon citizens elsewhere in the world are also largely absent or minimal on Vanuatu. The island nation’s legislative environment is geared up for the offshore business market, and there are strong confidentiality

provisions in local legislation. The International Companies Act of 1993 made Vanuatu a very attractive and also highly competitive financial centre, something that has forever buoyed the island’s offshore business sector. It typically takes just a day to establish an International Company in Vanuatu. There are various company types, but all enjoy an architecture designed to facilitate business and further investment. While the usual details are required of directors, an International Company (IC) in Vanuatu must keep a local office staffed with a duly appointed agent, or otherwise have a registered agent on the island. Also, the company’s constitution, as well as office and agency details, must be a matter of public record. An IC can commence with any amount in any currency, and can issue all commonly encountered share types to investors. The company secretary (if needed) can operate elsewhere in the world, especially since the islands’ ICs have no obligation to file annual returns or present books to local authorities of any kind. On the flip side, an IC cannot conduct local business or issue local shares, it cannot have any interest in real estate, same the leasing of premises for the company, and it cannot also be licensed as a trust, banking, or insurance entity. Local legislation imposes a solvency test and may hold directors liable to meet liabilities. An International Company’s incorporation fee sits around $150, with an approximately $300 annual renewal fee, or a fee based on 5% of turnover. The clincher is that ICs are exempt from all forms of taxation for 20 years from date of registration — a straight-up incentive if ever there was one. The local currency is the vatu, and one USD will buy around 110 Vanuatun vatu at the current rate of exchange. FOREIGN INVESTMENT, ECONOMY AND TAXATION IN VANUATU In Vanuatu there is no tax, save for some sensible pension planning, and a few taxes on local companies who might pay a variety of mild taxes. There is no income or corporate tax, no withholding taxes, and no capital gains tax. The former sales tax on goods has been replaced by VAT at a rate of 12.5%, and VAT alone accounts for over a third of government revenue.

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The primary economic activity in Vanuatu is agricultural in nature. Some 80% of the local population works in the agricultural sector, and occupation can range from subsistence farming to larger plantations of copra, coconuts, cocoa, timber, and other cash crops. Beef cattle follow closely as an important farming activity, and today kava root extract has also become an important export. Local companies and partnerships will pay annual fees, depending on the nature of their business and capitalisation, but ICs remain exempt. Foreign employees resident in Vanuatu are taxed in the same manner as local employees, which means no payroll tax anyhow. To get a feel for the highly enabling business environment on Vanuatu, it’s illuminating to note that even local companies pay no taxes on income, profits, or dividends. Local companies will pay import and export taxes, and their annual business licence tax. Import taxes vary fairly widely depending on the kind of goods being imported, while export tax is pegged at 5% for most goods. Other types of businesses in the financial management sector have their annual license fee calculated as 2% of their estimated turnover. International Companies remain exempt from all of this for the first 20 years, and even after, local company taxation still won’t apply. There are no obligatory social security contributions, although

FDI & INWARD INVESTMENT

Vanuatu FDI

both employer and employee will pay 6% of salary to an approved superannuation scheme, typically the Vanuatu National Provident Fund. Indeed, it was only the demonstrable need to broaden the tax base that finally led to VAT being introduced in 1998, making the island nation less dependent on the revenues derived from international trade. Several exemptions to VAT are recognised, notably International Company’s activities, as well as engagements and occupations that fall under a contract of service, or a contract identifying one as a company director. TRUST AND ESTATE PLANNING IN VANUATU The Trust Companies Act Cap 69 regulates trust management on the islands. The local Financial Services Commission licenses companies acting as a trustee, administrator, or executor. Vanuatu trust managers are astute and rank alongside the best offshore trust managers worldwide. The archipelago did, as did other offshore jurisdictions, take measures to curb money laundering through the island’s offered financial tools and services. In response to FATF and OECD pressure, Vanuatu signed a memorandum of understanding regarding financial intelligence reporting with Australia. Only local companies may become trust managers on the islands, as ICs are forbidden to engage in trust management activity. ICs can, however, hold shares of a local trust management company. Licences are only given to local trust

administrators if they have over $1 million in paidup capital, assuming their head office is in Vanuatu. Where the head office of a local company is abroad, around $5 million must be secured, and where the head office is elsewhere, at least a primary office must be located on the islands.

TO GET A FEEL FOR THE HIGHLY ENABLING BUSINESS ENVIRONMENT ON VANUATU, IT’S ILLUMINATING TO NOTE THAT EVEN LOCAL COMPANIES PAY NO TAXES ON INCOME...

A minimum of two corporate officers must also reside in Vanuatu. While the legalese around trust management companies in Vanuatu is stringent, this has simply contributed towards the reputation of the islands as a safe haven for smart trust administration. Foreign investment in Vanuatu is largely facilitated by the Vanuatu Foreign Investment Promotion Agency, a statutory body that promotes and facilitates foreign direct investment in the island chain.

A logical component of the Ministry of Trade, Tourism, Commerce, Industries and Ni Vanuatu Business, there are also agencies like the Vanuatu Foreign Investment Board, and innumerable private promoters too. Tourism has become an important contributor to Vanuatu, and some fine international hotels and bespoke restaurants greet visitors to Port Vila and Santo, both of which are able to berth the big cruise liners. VANUATU CITIZENSHIP AND FUTURE PROSPECTS Although high net worth immigration’s contribution to the population jump of the last 13 years isn’t readily available as an exact figure, it’s been substantial. At around $120,000 per citizenship, many foreigners are taking up a second or even sole citizenship in Vanuatu. Family members are also added to an application at a lesser rate than most jurisdictions, making the island attractive on price, especially when an entire family wishes to relocate. This is because the due diligence applied to the principal applicant isn’t applied to each and every family member. They are rather treated as additional parties of lesser concern, on the back of the principal’s successful application. Speed is of the essence too, and Vanuatu has the reputation of issuing a new passport to a (formerly) foreign nation in less than two months. While $120,000 might be a little higher than some others, it’s still definitely on the low end, and the speed with which passports are issued is seldom matched. EG

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Spring-Summer 2022 •

FDI & INWARD INVESTMENT

Jersey FDI

Jersey Business and Investment Although occupied by the Nazis for five years during the war, Jersey had up until that point enjoyed a stable and peaceful life off France’s coast. A Crown dependency of the Channel Islands, Jersey is situated only 23 km to the west of France’s Cotentin peninsula, and both English and French are official languages, writes Shannon Berkley. n almost every practical way, Jersey is self-governing. Britain deals with its external relations with the EU, but the island itself continues very much alone in its day-to-day affairs. Thanks to Brexit, Jersey is part of the single market yet remains outside of the EU fiscal area. Jersey boasts a sizeable yet still small population of just over 100,000, and its capital is Saint Helier on Jersey’s south coast. Easily accessible, flying to Jersey from the UK or the EU mainland is typically only an hour’s flight. With a stable economy based mostly on agriculture, tourism, and financial services, Jersey also boasts a balance of payments surplus, has no external debt, and unemployment is virtually unheard of on the island. The local fintech arena is dominated by banking, as well as fund and trust management, and it’s been a particular area of focus for the government for some time. Post WWII, Jersey pushed an economy of tourism and local agriculture, but during the 1960s, offshore finance became a prime sector for the island. When the UK joined the EU’s predecessor, the European Economic Community (EEC) circa 1973, Jersey decided not to join alongside Britain. With hindsight, this was probably the single biggest factor allowing Jersey’s attractiveness

to investors to continue unabated. In the early noughties, Jersey was rated highly among offshore finance centres by the Global Financial Centres Index (GFCI, London). Since then, Jersey has slipped to 59th place according to the same ranking. Practically, for companies and high net worth individuals, Jersey has maintained its consistently good financial services, and in spite of its tussles with global (although mostly EU) regulators over its offshore-stroke-tax-haven status, the island is still very attractive for a number of good reasons. BUSINESS AND TAXATION IN JERSEY The Jersey government has made attempts to spark light industry, and the island is now showing significant activity in the electronics sector. GDP in 2018 sat at £4.64 billion, and the government is now also using gross value added (GVA) as a performance indicator. The 2018 total GVA was £4.7 billion- a 1.4% increase on 2017. Business and communications infrastructure in Jersey is on par with the best the mainland has to offer, and the finance sector remains the island’s flagship industry, in line with decades of promotion of its offshore services. Jersey has also developed a strong regulatory structure, through which all incoming finance-sector businesses are filtered. It’s in part an olive branch to Brussels, and part

• Productivity, Strategy, Profitability

internal management in Jersey’s best interests, the island nation nonetheless seems to have mostly retained its status as a tax haven, yet also maintained good relations with regulators because of its own regulatory architecture. Politically stable, Jersey means low taxes and a still strong international credibility for business. Local authorities favour companies that have the potential to enhance either diversity or the quality of services offered by the country. To this end, local companies will apply for a ‘regulation of undertaking’ licence, a process that takes about three weeks before approval. Jersey companies can also be offshore companies. If a company is incorporated as an offshore company in Jersey (termed an International Business Company or IBC), it cannot then trade locally, or in fact conduct any business on the island. Offshore companies in Jersey are typically trading companies, doing business globally. Assuming a company has registered as an IBC, Offshore companies in Jersey pay vastly less income tax, unlike resident companies that pay 10% and upwards. Jersey IBCs pay almost no taxes, between 0.5% and 2%, although they are liable for an annual licence fee of around £600. Although Jersey residents pay 20% income tax on their investments regardless of where the money comes from in the world, outside of that there is no

FDI & INWARD INVESTMENT

Jersey FDI

capital gains tax in Jersey. Jersey has VAT at the most common rate of 5%, although goods have a sliding scale on the VAT levy. If incorporated in Jersey, a company will need to file an annual company report, as well as maintain its accounting records. BANKING AND FINANCIAL MANAGEMENT Renowned for trust administration and private stewardship, Jersey competes with the Isle of Man and Guernsey as one of the UK’s three preferred offshore financial centres. This appeal of course extends worldwide, and between the three destinations, Jersey stands out for its hale banking and finance sector, as well as its large offshore fund industry. The Jersey trust sector is well developed, and capably aided by the strong local law fraternity, specialist advisors, and smart trust managers. As Jersey’s business environment has evolved over the last decade to become more cosmopolitan and international, many foreign companies and individuals have realised the Jersey perks when establishing in the EU. Particularly UK companies and citizens are facing increasingly tough antiavoidance regulations that severely limit citizens’ abilities to employ local trusts productively. The proof really is in the numbers, and no matter the EU and OECD’s attacks on the very idea of ‘offshore’, Jersey’s financial sector is healthier than ever, and new company registrations haven’t slowed. Around 30 banks operate in Jersey, and Financial Services Commission figures show that of the top 500 EU companies, around 30% bank in Jersey. More than 10% of the top 700 Asia-Pacific companies were using Jersey’s financial facilities around 2010, and that figure has remained constant or increased. Jersey is known for especially strong banking, trust management, and investment fund sectors. Jersey’s advisory competence and financial infrastructure is seen as some of the best in the world for smart money management.

RESIDENCE, CITIZENSHIP AND INHERITANCE IN JERSEY Citizenship by investment in Jersey is possible, although quite narrowly defined, and the island nation has a reputation for a rabid not-in-my-backyard (NIMBY) citizenry. Ergo, the citizenship option extended by the government involves no language or business requirements, but rather entails being able to buy property on the island as a principal residence with a minimum value of £1,000,000, as well as being able to pay a minimum of £125,000 in annual taxes. Family members are included in an application and turnaround times are quick. After five years of residence, an investor can apply for permanent settlement for themselves and their family (also known as Indefinite Leave to Remain (ILR)). After another year’s residence, the applicant may acquire UK citizenship, although for that further conditions must be fulfilled. EU nationals typically have an easier time visiting and residing in Jersey, although officially that policy slant fell away in 2020. Work permits are quite actively investigated, and permits are typically only given when no suitably qualified local talent exists. That all sounds fair and clear, but the buying of a residence to initiate this process is subject to regulatory consent, and that consent forms the bottleneck through which prospective citizens must pass. Consent is very limited, and is usually given for luxury dwellings, where the occupant-strokeapplicant is obviously of the means to contribute significantly to the island’s tax base. JERSEY’S FUTURE PROSPECTS Jersey is desirable, and knows it, because there is a comparatively severe pressure exerted on the availability (and prices) of local dwellings. Indeed, housing (and its surrounding protocols) remains a major constraint on business development, since incoming workers face tight

restrictions when searching for reasonably priced accommodation. Indeed, many banks have relocated to the Isle of Man over the last few years due to pressure on staff and property costs. The currency in Jersey is the Jersey pound, which is equal in value to UK pound sterling. On the island, British, Scottish, and Guernsey money floats around without issue. Jersey’s proximity to the EU is both a blessing and a curse. While wholly independent for all intents and purposes, the island will remain a favoured locale for holding and trading companies doing business in the EU. eCommerce is also a growing company sector. That said, the European Commission and the OECD keep a watchful eye on Jersey, and it is inevitable with the passage of time that these legislative bodies try to squeeze the tax benefits out of Jersey. Jersey has been smart about its architecture, and to date remains a cooperative, yet still confidential locale in global money management. After 2008 (and a second wave of attacks from the OECD against global offshore secrecy), Jersey has emerged thoroughly victorious, reaffirming the limitations of global watchdogs to dictate affairs to a sovereign country. Jersey has never been tainted by the image of more scurrilous destinations, and has maintained the reputation of a reputable, competent financial management centre. It has signed several new tax information exchange agreements in a bid to comply with the transparency requirements of EU authorities, but it’s very much the same as before for clients’ purposes. Tourism, always a constant on the island, is recovering after the coronavirus shenanigans, and looks set to grow well into the future. Business (and the surrounding financial management and investment sector) is growing healthily too, notwithstanding the housing issues foreigners face. EG

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Spring-Summer 2022 •

FDI & INWARD INVESTMENT

Madeira FDI

Photo: Balate Dorin / Shutterstock.com

Tax, Tourism and Business in Madeira Madeira is a Portuguese autonomous territory situated on the same-named archipelago in the North Atlantic Ocean, roughly 1,000 kilometers southwest of Portugal, says Thomas Hughes. t is a special outlying area of the European Union. The archipelago is made up of two inhabited islands, Madeira and Porto Santo, as well as a collection of abandoned islands known as Ilhas Desertas and several nearby islets and cliffs. As a special economic zone, also known as the International Business Center of Madeira, it provides enterprises with the financial and tax benefits of a free industrial zone, an offshore banking center, the International Ship Registry, and the International

WHEN EXPORTED TO THE EU, GOODS IMPORTED INTO THE MADEIRA FREE ZONE, AS WELL AS LOCALLY PRODUCED GOODS, ARE NOT SUBJECT TO CUSTOMS TARIFFS.

Center for Services. Madeira’s service sector accounts for the majority of the local GDP. Tourism is one of the region’s most significant economic sectors, bringing additional revenue for commerce, transportation, and other industries while also providing a large market for local products. This is reflected in the region’s overall GDP, which includes 9% of hotels and restaurants. Porto Santo’s 9-kilometer beach and pleasant temperature also make it a popular tourist destination. The region’s economy has recovered and improved its competitiveness in both home and international markets in recent years. In order to bolster the economy further and invest in the region’s growth, favourable terms on company taxation have been implemented on the island. MADEIRA: UNIQUE TAXATION POLICY IN EU Madeira’s economic zone features a unique preferential taxation policy that differs from that of the rest of Portugal and Europe. When we compare the taxes in Madeira and Portugal, for instance, the offshore taxes are significantly lower. In Portugal, tax rates are rising (for example, VAT rose from 13% to 22%), but in Madeira, the profit tax remains

• Productivity, Strategy, Profitability

stable at 5% until 2027. Working in the Madeira offshore zone has several advantages, including the absence of currency controls and taxes that must be paid in mainland Portugal, for instance. When exported to the EU, goods imported into the Madeira Free Zone, as well as locally produced goods, are not subject to customs tariffs. However, there are certain requirements: for example, to preserve preferential treatment, enterprises must verify that components and raw materials are sourced from non-EU regions. MOVING TO MADEIRA Even for non-EU nationals, relocating to Madeira is relatively simple. High Net Worth Individuals will appreciate the variety of accessible Portuguese residence options available, such as the D7 passive income visa, many startup visas, or the Golden Visa. The Golden Visa is a flexible and straightforward system with simple and clear legislative criteria aimed at encouraging foreign investment to Portugal. All of these options provide a rather easy gateway to getting Portuguese citizenship after a period of five years, which is an enticing proposition for those who are looking to establish themselves in the European Union. EG

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TECHNOLOGY

Distributed Ledger Technology

The Incompatibility of CBDCS with Western Democracy, Free Enterprise and Commercial Banking With the advent of crypto in the late noughties, many saw the eventual downfall of retail banks. Who needs banking services when you can do it all directly on the blockchain? It’s more than a little ironic then, that today the demise of the retail bank is almost certain and looming, but it’s not digital tokens that are going to kill it off, reports Shannon Berkley.

t least, it’s no digital token anyone has yet heard of, because they’re still being touted and developed by central banks, with the exception of China that is in

full flight. A central bank digital currency (CBDC) is an obnoxious notion, although nothing but a logical extension of the shameless autocracy of central banks and their government lackeys. A handy component of The Great Reset that the World Economic Forum and various other think tanks keep punting, CBDCs are the money masters’ answer to a digitising world. Central bank digital currencies are also known as digital fiat currencies or digital base money. It is digital money issued by a country’s reserve bank for use as cash. The new form of common currency. A privately managed digital token or, indeed, cryptocurrency. Except that it’s not, because cryptos run on a consensus protocol, not the sons of Mammon owning everything utterly and entirely. While initial claims are that CBDCs are not intended to replace cash and regular bank deposits, but rather ‘coexist’ as an alternative payment method, none of that really matters. What matters is that CBDCs will wipe certain supposedly inalienable human rights off the map — or at least take them from their place on the scrolls of a democratic constitution and place them in a gulag. CBDCs are in direct opposition to the modest autonomy we have occasionally enjoyed to date,

and certainly in opposition to the letter and spirit of cryptocurrencies. What matters is that if CBDCs succeed in becoming a nation’s default currency, that nation will be completely enslaved by the control CBDCs envision. That’s neither melodrama nor paranoia, but merely the architecture laid out in the public domain by central banks. It’s all on show to digest, but it’s not something any thinking citizen should swallow in the first place. Trading on the mainstreaming of crypto as well as the hale image of a wise old banker (before the latter all falls apart), the global money authority is feting CBDCs to a population it hopes is still too ill-informed to do anything but applaud them. ARE CBDCS CRYPTO? CBDCs walk like crypto, talk like crypto, but they’re not crypto. They might employ components of blockchain architecture, be encrypted, and digital, but cryptocurrency is supposed to be variably private, and decentralised. Blockchain is a decentralised ledger technology (DLT), which on a financial ledger like Bitcoin, for example, means no boss, no overarching authority, no hierarchy, no one touching or controlling your money. You are 100% in control of your money with crypto. The central banks’ private blockchain (of which CBDCs are the token) removes all of the good

• Productivity, Strategy, Profitability

parts of blockchain, for currency purposes at least. The chain’s token — a CBDC — introduces a heightened level of dependency on the money houses. No more commercial banking, just you and Big Brother, social credit, and an eloquent slavery for the modern era. Indeed, the whole notion of CBDCs being presented as some kind of smart modern way to “handle your money” is really just a route to central banks handling your money, your life, your behaviours, and attitudes. As a route to controlling everything far more easily, for their purposes, CBDCs are monkey bait, and they have nothing good to offer the citizenry. If Central Bank Digital Currencies are established and proliferated in tandem with the eradication of physical cash, central banks will have cannibalised and permanently destroyed commercial banks. China is the global flagship, the model, and having launched its e-CNY digital currency during the 2022 Beijing Winter Olympics, it now seeks to coerce an already highly monitored and controlled population into a far more manageable paradigm where the government has total control over whether anyone has any money, or not.

TECHNOLOGY

Distributed Ledger Technology

Photo: JK21 / Alamy Stock Photo

How free is Free Enterprise when money is no longer a physical reality among people, but rather a ‘Govcoin’ that evaluates your entire life on autocrat’s terms before you have any access to capital? How democratic is a ‘Western democracy’ when voting may continue, but a deep state entity can control everything you can possibly do in modern society? When money has no physical reality and rests in the hands of the elite money makers, what do we imagine our quality of life will depend on? CBDCS ARE THE STUFF OF ORWELL’S BAD DREAMS The dangers of giving central banks complete access and control over retail investor deposits and the transactions of private individuals should be obvious. Whatever criminal activity fiat currency allows will be child’s play in comparison to the Orwellian nightmare central banks are floating as bait. Commercial banks are toast. With CBDCs, their entire existence can be replicated by an app, one that gives complete control over the citizenry to boot, and demands complete obedience to participate. With CBDCs as a lynchpin of social engineering and control in our digital age, entrepreneurs and investors will no longer be able to turn to commercial banks to finance their businesses and investments. They’ll go cap in hand for their CBDC funding from a central bank. www.executive-global.com

They might extend you a loan, depending on whether you’ve behaved according to a shopping list of other metrics, now all informed by analytics and the extensive reach we give social media. It’s interesting to note that the DeFi arena is rising rapidly, and emulating all sorts of legacy products like loans and insurance. Indeed, the DeFi arena sits in direct opposition to (currently) commercial banking and (soon to be) CBDCs. DeFi is the highest level of decentralised financial freedom available on a digital planet, while CBDCs are an abdication of all of our liberty, dignity, and right to a free and autonomous existence. CBDCS ARE REALLY A BAD JOKE CBDCs are fundamentally incompatible with human freedom and prosperity as we know it. That we have (d)evolved to a point where CBDC technology can be publicised as a “great new idea” in Western democracies, is indicative of just how far we have fallen from a once developing yet largely unfettered people. Now, more than ever, we need to retain physical (fiat) cash, investment in and possession of precious metals (not ETFs, but rather bullion under the bed), so that we retain private, fungible means of transaction. Indeed, while crazy survivalist conspiracy theorists might have been a few decades too soon, a touch of their paranoia would stand us all in good stead right now. It just took a moment for big money’s ambitions to catch up to their nightmares. They’re our nightmares now. Privacy, remember that quaint concept? The reality that no one (for extremely good reasons) has the right to know your business. Privacy has already been buried in digital life, notwithstanding some resistance, and CBDCs are merely an extension of that reality. If CBDCs succeed, it will be a cataclysmic shift in human affairs. From innocence

until guilt is proven, we’ll be moving towards guilty until proven innocent. The effrontery of CBDCs alone should see central bankers jettisoned from the planet, yet somehow a “digital solution” for money that runs violently against the ethos of actual crypto is not only being entertained, it’s about to be actively promoted from on high, capably aided by the sellout media fraternity. We need a decentralised currency system to maintain personal prosperity, so that no nefarious entity can extort behaviour or starve out undesirables with a form of programmable money that takes centralisation to a new height. SO, IS CRYPTO THE ANSWER? The short answer is no, unless you do your homework. With online life already mired in irredeemable privacy issues, cryptocurrencies cannot make the same mistake of failing to maintain their anonymity as new internet users did. It’s a nuanced quickstep right now, where users will need to draw the line on what they do and don’t accept as a component of crypto, and vote with their P2P buying power. Monero, for example, has long been a cryptocurrency built around intense privacy and anonymity. What good is Bitcoin when you can’t take it out of your wallet without central control recognising you and blocking your activity? Cryptocurrency is innately anonymous (or should be), and was envisioned as a P2P currency system. The furthest thing from crypto’s initial imagining was the notion of a central bank co-opting the whole idea and trying to impose their will and architecture on something that absolutely spells their doom. It’s hard to overstate just what’s at play in this moment, where central banks are coming out in response, and cleverly using our adoption of cryptos to try to gatecrash the party, disguised as just another digital improvement on things. EG Spring-Summer 2022 •

TECHNOLOGY

Sustainable Technology

Frequency-Powered Televisions, Automobiles and the Politics of Unlimited Free Energy The name Nikola Tesla and his contributions to the advancement of science and mankind as a whole are probably widely known to the majority of people, one would assume. In order to understand the history of electricity, one has no choice but to encounter several of his groundbreaking concepts, says Thomas Hughes.

ortrayed by Ethan Hawke in the 2020 biographical drama of the same name, Tesla had plenty of obstacles that prevented many of his inventions coming to fruition, although it is only reasonable to acknowledge him as one of the most significant innovators in the history of mankind because of the impact he had on the world. While he was undoubtedly a revolutionary in his domain, one who struggled with mainstream pushback against his inventions, his story is shared by other genius minds, such as that of Maxwell Sangulani Chikumbutso, whom we will also learn more of today.

THE LEGACY OF NIKOLA TESLA Tesla was a visionary in every sense of the word: he was successful in transmitting electricity via the air without the need of wires, he showed remote control to unsuspecting crowds who were astonished by this seemingly surreal technology, he invented the radio, just to name a few...Tesla was not merely dreaming up all these amazing technologies, but actually turning them into reality. The wireless transfer of electricity was one such revolutionary invention and in his scientific pursuits, Tesla devoted himself to improving the overall well-being of all humanity. With the use of his new wireless energy transmission discovery, Tesla envisioned two significant advantages of this technology. It would enable a major reduction in the costs of energy supply and the ability to connect human beings in ways that were previously unimaginable. Alas, in spite of his pioneering work, attempts to transmit electricity across great distances using similar technology have been largely unsuccessful for more than a century after his death. However, Tesla’s dream might just become a reality in the foreseeable future. Wireless charging, electric cars and the need to make our energy consumption more sustainable

• Productivity, Strategy, Profitability

have all pushed for renewed attempts at creating fully functioning wireless energy transfer systems all around the globe. The concept here is to facilitate the flow of electricity to a device without the use of cables to conduct it. Already, wireless transmission of electromagnetic energy in the form of audio, video, and data transmissions is becoming increasingly commonplace, but the transmission of electrical power is still somewhat of an unexplored territory. In fact, wireless energy transmission without metal connections is already being used in some items, especially with the advent of the Internet of Things. For instance, magnetic induction is used to transmit power through plastic casings. Much like mobile phones now have wireless charging platforms, electric cars are projected to be charged remotely when close to a station by the means of magnetic fields in the future. It is incredibly exciting that these technologies exist and have the potential to deliver free energy to the world. TODAY’S TESLA, FROM ZIMBABWE Fortunately, more geniuses like Nikola Tesla, who was a visionary ahead of his time in life, can be found throughout history all over the world, and our century too has produced remarkable inventors that break the boundaries of what conventional science thinks to be possible. Maxwell Sangulani Chikumbutso is one such inventor. Not too long ago, word had begun to spread about a new development designed by Maxwell Sangulani Chikumbutso - a Zimbabwean who claimed to have effectively developed an electric car with a system powered by a battery that can charge itself. This would make it the first such automobile that does not require being recharged. Its battery is powered by electromagnetic waves that are all around us and inherently existing in our surroundings, with Maxwell’s design looking to draw from the energy

TECHNOLOGY

Sustainable Technology Photo: Lifestyle pictures / Alamy Stock Photo

within nature itself. In order to start the car and keep it running, it is equipped with 5 gel batteries, which then would continue to be charged autonomously. Chikumbutso’s study and innovation, like Nikola Tesla’s, is focused on the wireless transport of electrical power in order to improve people’s access to energy. This was also not his last or only creation. Soon after, Chikumbutso created another invention for Zimbabwe by designing a drone that can fly up to 3,352 meters above sea level using radio frequency in order to power itself. Among other things, this drone can come in handy for rescue missions, wildlife tracking and preservation, military maneuvers and delivery of supplies to people in otherwise inaccessible locations. With a flying endurance of 600 km/h, a maximum altitude of over 3,352 meters above sea level, and a cargo capacity of up to 45 kg, the drone designed by Chikumbutso would be the first of its kind. ABOUT THE INVENTOR Who exactly is this brand new, ground-breaking inventor? Maxwell Sangulani Chikumbutso was born and raised in Harare’s Kuwadzana Township, where he was mostly raised by a mother both pious and hardworking. Throughout his upbringing, Chikumbutso had aspirations to develop technology that would change Africa and the world as a whole, for the better. With no formal education nor academic training, Maxwell found his inventive ability at a very young age. He possesses engineering talent that defies conventional reasoning and has perplexed many competent engineers, which may explain the amount of doubt that has sprung up on fact-checking websites since he emerged into the public eye. Despite the challenges, Maxwell has stated that his unique talents are God’s gift for him to use in order to improve the lives of regular people, and his inventions remain inspired by his insatiable desire for the betterment of lives in Africa and around the world. According to the Maravi Post, in 2018, the government of the United States helped the Zimbabwean inventor make himself a new home in California, where he established his company Saith Holdings, Inc. This has facilitated the progress of producing his breakthrough creations- such as the world’s first green power generator, which can generate energy using radio frequencies, an electric automobile that can perpetually recharge itself, an unmanned aerial vehicle, and many others. The foundation of Saith Holdings Inc. is based on Chikumbutso’s incredible array of innovations. He developed Saith Holdings, Inc. to be a dynamic, inventive, and revolutionary technology business that will serve

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the best interests of the ordinary people in his native Republic of Zimbabwe and across the globe. In addition to California and Zimbabwe, Saith also maintains offices in South Africa. Thus far, Saith Holdings, Inc. has proved its capacity to develop unique and pioneering technologies that are defying the negative stereotypes which doubt if Africa would ever be capable of producing anything so extraordinary. THE POLITICS OF FREE ENERGY SUPPRESSION Unfortunately, just as with Nikola Tesla, the powers in place right now do not benefit from such innovative creations - unlimited access to affordable energy around the world would go against the interests of many influential entities. As a result, when attempting to bring their work to the public, innovators such as Chikumbutso have encountered opposition, obstructions, and difficulties. One might even argue that Tesla has had it easy, despite all of the challenges he has experienced, like being denied funding for his studies and then having his inventions appropriate by others with money; Maxwell, on the other hand, has already survived assassination attempts. Last year, after getting ill from suspected poisoning that his company believes is connected to his wireless energy transmission research and activities, the creator of the green power generator, which can make electricity from mere radio frequencies, found himself in an intensive care unit of a hospital in May 2021. Chikumbutso, the first Zimbabwean to develop and build a hybrid engine powered helicopter, an electric automobile, a magnetic converter, a green power generator, and a drone, was the target of his third assassination attempt. In fact, Chikumbutso is not the first revolutionary creator to be threatened in this way. A number of free energy access scientists have been slain or poisoned in various locations throughout the world, in what is commonly thought to be a conspiracy orchestrated by the oil and solar technology energy sector cartel, which is seeking to maintain control over the profitable agreements and commerce that would otherwise be thrown off balance by creations like Chikumbutso’s. When governments, large corporations, or advocacy organisations restrict technologically viable, ecofriendly, no-cost energy sources, this phenomenon is known as free energy suppression. Such repression has been imposed on inventions like perpetual motion machines, cold fusion generators, torusbased generators, and other low-cost energy sources. Stanley Meyer, Eugene Mallove, Nikola Tesla, and John Kanzius have all been reported of being repressed, persecuted, or even assassinated for their studies. Now, Chikumbutso can also be added to this list, given the scale and ambition of his inventions, as well as the assassination attempts on his life. EG Spring-Summer 2022 •

TECHNOLOGY

OnShore Technology Group

Profitability, Validation and Verification Our special interview with VALARIE KING-BAILEY, profiles the award-winning engineer, technology executive and CEO of OnShore Technology Group, Inc, highlighting the progress of Chicago’s leading independent validation and verification (IV&V) firm. Executive Global once again caught up with one of the Windy City’s leading innovators. Why could OnShore Technology Group be an essential resource in the implementation of ERP systems? For ERP system implementations in life VKB sciences companies, computer systems validation is a mandatory requirement. Global regulatory agencies expect that life-science companies that use advanced ERP technology can produce their products and deliver them in a consistent and repeatable manner. EG

And as a market leader in independent validation and verification, what are some of the challenges that arise with ensuring sustained compliance? The primary challenge we see is the use of VKB manual, paper-based processes for validation. Independent validation and verification has been around for nearly 50 years. Throughout that period of time, prior to the advent of advanced technology, many organisations used paper-based processes and manual verification process to confirm that systems were ready for production use. Given the rapid pace of change with advanced technology, paper-based processes simply do not work effectively anymore. EG

Tell us about how you can assist with cybersecurity in the validation process? We often say that cyber security is the elephant VKB in the room. When you’re validating systems traditionally we are concerned with the installation, operational, and performance qualification of the system. This means that we confirm that a system is installed or provisioned in a consistent repeatable manner, that it operates functionally according to clearly defined and written user requirements specifications and functional requirements EG

specifications documents, and that it performs optimally and its production environment. As a successful engineer and entrepreneur, who are some of the people that personally inspire you in business? I am inspired by many people both VKB professional and personal that have been inspirational in my life. My mom is my greatest inspiration! In the early formative years of my life she pointed me towards education and excellence. She provided the resources and the support for me to go to school and achieve my dreams. I am also inspired by technology pioneers such as Steve Jobs. As a technology entrepreneur it is my desire to create and innovate to help not only saving lives in life sciences through the assurance that systems used in the processing of medical devices pharmaceuticals and biologics perform optimally but also innovating those processes so that we make the job of life sciences companies easier. EG

Being the leader of an IV&V firm that has EG successfully saved clients tens of millions of dollars, what would you say is your most successful case study today? The most successful company using VKB OnShore’s products and services is a specialty Pharma company based in the United Kingdom. We have been working with this firm over 12 years and they literally use every product and service that OnShore sells. We developed a quality management system that is used in over eight countries worldwide. They use our ValidationMaster system for their enterprise validation management needs. They have over 30+ systems that they are managing which includes over 3 million documents within the system.

• Productivity, Strategy, Profitability

How does OnShore Technology Group endeavour to retain technology work within the United States? Our marketing efforts are expensive including VKB digital marketing as well as direct marketing. We attend tradeshows and other professional venues frequented by our clients to ensure that we have the highest touch points among our clients. Much of our sales comes through our partner channel which has been very effective over the last 18 years. Leading companies such as Microsoft, Avanade, Alithya, and many more provide leads and opportunities that fuel our growth. Given the mandatory nature of the validation process, even through the pandemic we were able to sustain our market momentum and grow. Business today is still very brisk as many organizations are seeking to a lemonade manual, costly validation processes in favor of automation. We see this trend continuing throughout the coming years. EG

As one of America’s fastest growing private companies, what would you say is the perfect formula for generating profitability? To ensure sustained growth the magic VKB formula for us has been people, processes, and technology. We use advanced technology to fuel our business and to make our internal processes more efficient. People are our greatest asset. Our staff works tirelessly to ensure that our customers have the best experience possible from ONSHORE Technology Group. We deeply value our employees and consultants that work with us. EG

For further information, please visit: www.OnshoreTech.com

AVIATION

Business Aviation asting less time in their commutes, working directly from the airplane, and having the ability to get to a place on short notice, are just a few of the appealing aspects that come with owning or renting a jet. Keep reading if you want to find out if flying private is what your business needs to take the next step toward ultimate productivity or if, for your specific operation, you’d be better off saving the money. You’ll be surprised by how much money most companies would save by switching to private!

THE BENEFITS OF FLYING PRIVATE Perhaps the number one reason CEOs and business owners opt for a private jet is forgoing endless check-in lines in airport terminals. Booking a private flight will allow you to dedicate a few extra hours to your crafts. On the contrary, taking an airline connection will result in being stuck behind hundreds of people boarding the same airplane. While not wasting time boarding is a huge plus, fewer hours away from your physical office isn’t the only benefit of flying private. The freedom you’ll have aboard your private jet will make it seem like you are in an actual office. When you compare the working condition you

• Productivity, Strategy, Profitability

Why Flying Private Improves Business Productivity More than ever, modern companies are investing in owning or renting private jets to save money. It might sound counterintuitive, but investing money in an aircraft can become profitable in the long term, states Rachel Smith.

AVIATION

Business Aviation have on a traditional flight versus a small private plane, it’s night and day. Proper working conditions will go a long way. The noise reduction modern jets boast will make your productivity skyrocket. Plus, not dealing with noisy row mates or a hectic baby aboard will have you wanting to fly private forever. In addition, if you’re working on something confidential and handling sensitive data on your computer, the last thing you want is nosey neighbours peaking at your work files. One of the most make-or-break factors is wifi and the ability to make calls onboard. Regular flyers know how unreliable an airplane wifi connection can be. That’s a problem of the past if you switch to private. Most modern jets provide a fast, stable, and private connection for you to work in peace. Added flexibility Flying private is well known for being adaptable. For example, when you rent or own a private jet, you can simply book a flight to an hour of your convenience instead of settling for standard airline schedules. If your focus is productivity, that is an insanely valuable tool to have. For instance, if you have a meeting later in the day and there are no available flights until the next day, those are precious hours Photo: nimito / Shutterstock.com

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you would otherwise waste if you could not book a private flight. Once the meeting ends, you board your jet back home or toward your next destination and keep working on whatever task you have at hand at that moment. Land at smaller airports It is not often referred to as a benefit of flying private, but being able to land at more airports is an added comfort private jets confer. Most people do not know this, but smaller, less busy airports cannot accommodate larger airplanes. As a result, private planes with lower weights can land at a wider variety of airports worldwide which can come in handy if you were to fly to a specific location. Instead of flying into a congested airport further away from a client, a private jet will allow you to fly into a regional airport with a shorter runway that wouldn’t be suitable for a jumbo. As a result, you will be able to save some precious time. Fewer baggage limitations Any frequent flyer will tell you that dealing with baggage can be a hassle. Prohibited articles, restrictions on weight, you name it. Making sure you are compliant can be a nightmare. Flying private is an easy fix for this problem. There are no weight limitations, no added fees, and perhaps the most significant upside: your luggage won’t get lost. Traveling with an airline that handles thousands of bags each day, comes with the chance of having your personal belongings take a different route and not arriving at your destination. On the other hand, your luggage is virtually never out of sight when you fly on a private airplane. That takes added importance when you’re traveling for business, and you need to be ready for a business meeting as soon as you get to your destination. Make a great first impression If you want to impress a client, as you should, commuting in a private jet is an obvious way you can accomplish it. While it may sound superficial, looks matter, even in business. Clients will perceive a possible partnership as valuable if a company uses a private jet to commute. If you air commute privately, clients will believe you to be suited to hold their business. Even though it doesn’t directly affect productivity, first impressions can make or break a possible partnership. That way, broadening your customer portfolio is a surefire way to increase your income.

Notable Models Worth Consideration When you’re on the market for a private jet, you need to prioritise a few specs and single out the most important ones for your operation, including factors like range, fuel efficiency, comfort, noise reduction and connectivity. If you have done the maths and think the benefits outweigh the jet operating costs, here are a few examples of private jets ideally suited for a business operation. The Bombardier Global 7500 One of the private jet highlights of 2022. The Bombardier Global 7500 has an industry-leading range that will get you anywhere in the world in a blink of an eye. 7.700 nautical miles and a top speed of Mach 0.925 are impressive, but this topof-the-line jet doesn’t stop there. Mounted on his spacious interior are four true living spaces large enough to hold a master suite, crew suite, and kitchen. Aside from that, seats with deep reclining function and upper-class comfort will positively contribute to your productivity. However, the drawback is that this model doesn’t come with Ka-band connectivity. That means you won’t be able to hold meetings on board or access the internet. The Embraer Phenom 300E The ‘E’ stands for enhanced. This mediumsized jet feels like it was tailor-made for a business operation. The Phenom 300E boasts a range of 2,000 nautical miles and a cruising speed of 464 knots, and a cabin spacious enough to hold six people in standard configuration. The best part? This popular Embraer model has highspeed internet fast enough to stream video and conferencing, an essential aspect of a business jet. The Gulfstream G500 With the same top speed as the aforementioned Bombardier (Mach 0.925) and a maximum range of 5.300 nautical miles, the G500 will take you anywhere you want to go. The cabin is flexible and adaptable to any circumstance. Whether you want to travel alone or with a group of business partners, this jet allows you to configure its cabin to your needs. The jet is also equipped with Honeywell Connectivity Suite. That brings you wifi, voice, and data so you can host any meeting on board. Combining every spec, the Gulfstream G500 seems like a perfect blend of comfort, performance, and technology.

THE DRAWBACKS OF FLYING PRIVATE Flying private isn’t cheap. Because it’s a serious investment, you’ll have to look into the maths. Volume is the name of the game here, so if you won’t be getting much air time out of your private jet, you likely will not benefit from owning or renting a jet. The costs increase even further if you’re considering ownership. Maintenance costs have a hefty price tag and should be taken into account. All in all, you need to put the whole operation expenses against the value you get from the added productivity of flying private. Getting the maths right here is a must, but chances are you’ll be amazed at how much flying a private jet lifts your production numbers.

KEY TAKEAWAYS While some people might think owning or renting a private plane is extravagantly expensive, some businesses quickly get returns on their investment. Working in a crowded airline connection is out of the picture if your business deals with highly confidential information. Besides, private jets are the logical solution to the inability to work while commuting. Moreover, you will be able to use those precious hours aboard a private plane to keep working while you commute. Ultimately looking at the bigger picture, owning or leasing your own jet may be the productivity elevation tool needed for any time-constrained executive. EG Spring-Summer 2022 •

AVIATION

NetJets Inc

NetJets and Sustainability NetJets is among the leaders in the private jet scene. Besides being focused on being an industry leader, the company’s European operation has been carbon neutral for nearly a decade, something most aviation companies can only dream of. However, NetJets is continuously finding ways to be competitive while staying green, says Thomas Hughes. he brand new partnership with Lilium is a perfect example. The German electric vehicle company specialises in vertical take-off and landing jets called eVTOL. This partnership will allow NetJets to continue to be a trailblazer in the aviation industry. The company comes forth as one of the pioneers in building a sustainable future in aviation, particularly electric aviation. In the first phase of the project, NetJets will be able to acquire 150 electric vehicles from Lilium, and the latter will get much-needed support for their operation in Florida. As the electric jets evolve and the access to small helipads becomes accessible across the whole state, short trips will be safer, cheaper, and greener with an eVTOL when compared to a traditional ground vehicle. In addition, another benefit of using Lilium’s jets is reducing time in short commutes. Also, the added noise reduction and comfort the jets offer adds the possibility of working or relaxing during your trip. If you add zero emissions to the equation, it sounds like a match made in heaven.

SUSTAINABLE FUEL AND BLUE SKIES PROGRAM With record-breaking numbers on the horizon, the private jet industry needs to find ways to stay competitive while growing toward a green future. For that reason, NetJets has partnered with WasteFuel to produce sustainable aviation fuel (SAF). This translates to a significant reduction in the carbon footprint caused by the operation. Compared to conventional jet fuel, SAF can reduce greenhouse gas emissions by up to 80%. SAF-fuelled NetJets aircraft flew more than 2.5 million nautical miles with SAF in the last year alone. That number contributed to more than $100,000 in carbon dioxide offset by the company. NetJets have also started a Blue Skies program to promote responsibility among their customers. This program works via carbon offset crediting. As a

Photo: Kevin Clark / Alamy Stock Photo

NETJETS HAVE ALSO STARTED A BLUE SKIES PROGRAM TO PROMOTE RESPONSIBILITY AMONG THEIR CUSTOMERS. THIS PROGRAM WORKS VIA CARBON OFFSET CREDITING.

• Productivity, Strategy, Profitability

result, frequent flyers can buy enough carbon shares to offset their footprint contribution, making their flight virtually carbon neutral. Blue Skies might seem like a farfetched idea to offset the costs of a sustainable operation, but in reality, its primary goal is to raise awareness among customers. By showing private flyers how easy it actually is to offset their impact on the environment and what NetJets is doing to fight it, the mission has everything to be successful long term. With all that NetJets is doing to become sustainable, the company hopes to cause a ripple effect across the industry and make the terms ‘carbon-neutral’ and ‘zero emissions’ a rule, not an exception. The investment in electric jets, the Blue Skies program, and the sustainable fuel initiative are just a few examples of the efforts made by the owner of the largest and most diverse fleet of private jets worldwide. EG

Improving the Environmental Footprint of Our World Throughout its rich history, AMG Vanadium LLC has been supplying high quality products and services for the metals, refining, and steel industries. Headquartered in Cambridge, Ohio, USA, in the heart of the Appalachian region, AMG Vanadium is a wholly owned subsidiary of Advanced Metallurgical Group N.V. (“AMG”), a global leader in the supply of critical materials who is at the forefront of CO2 reduction. AMG Vanadium’s purpose is grounded in improving the environmental footprint of our world. Through its proprietary roasting and pyrometallurgical process, the Company converts spent refinery catalyst and other vanadium bearing residues into ferrovanadium (Ferovan®) and a ferronickel-molybdenum alloy (FeNiMoly®), which are marketed and sold to the carbon and stainless-steel industries. Through this environmentally beneficial conversion of waste materials into valuable products, AMG Vanadium provides an important solution and risk mitigation for refinery partners. With a track record of environmental stewardship and compliance, AMG Vanadium is widely acclaimed as the industry gold standard. The Company’s operational model produces no process wastewater, generates the industry’s lowest overall emissions, yields the industry’s highest conversion rate to saleable products at over 99%, and reduces CO2 emissions by 80% compared to traditional mining to produce ferrovanadium. For more information about AMG Vanadium, please visit https://amg-v.com.

“We searched globally for a location for our second AMG Vanadium facility and we kept coming back to southeastern Ohio, a region we’ve called home for 70 years. We remain committed to our Cambridge facility and are thrilled to have the opportunity to add 100 new jobs at our $300M Zanesville Plant. The work ethic of the people in the region is unparalleled, and the support we have received from business, civic, and governmental leaders at the local, state, and federal levels has been phenomenal.”

TOM CENTA

AMG VANADIUM’S PRESIDENT Founded in 1952, AMG Vanadium’s roots run deep in southeastern Ohio. In fact, so deep that when they were searching for a site to build a second spent catalyst recycling and ferrovanadium production plant to essentially double their capacity, AMG strategically made the decision to invest over $300M in nearby Zanesville, Ohio, further cementing their presence in Southeastern Ohio.

www.ohiose.com

4 Ferrovanadium, AMG Vanadium’s primary product, is a micro alloy used in the production of steel. Adding just one to two pounds per ton of steel will increase its strength by 20-40% without adding weight to the end product. Ferrovanadium is used in infrastructure, aerospace, energy, chemicals, and national defense applications.

AVIATION

Private Jets

Private Jet Etiquette - 5 Unspoken Rules There was a time when flying private was reserved only for a select few. While private jets are still a luxury commodity, their popularity has skyrocketed in recent years. With the industry's growth, private jets have never been so accessible, writes Oliver Taylor. f you’re new to private flying or not sure you’re following the proper etiquette, you should know that there are a few unwritten rules you should abide by to make your trip all the more enjoyable. In this guide, you’ll find everything you need to know about conducting yourself in all stages of your private flight. From the moment you board until you leave the aircraft.

DRESS ACCORDINGLY The first thing to know is that private flyers follow a dress code. While dressing accordingly can mean different things, rising to the occasion isn’t a thing of the past. If you’re flying for business

”IF YOU’RE ON TIME, YOU’RE LATE.’’ SO GET TO THE AIRPORT WITH TIME TO SPARE TO HAVE TIME TO BOARD AND SETTLE IN COMFORTABLY.

purposes, it’s best to suit up before you board. While you might want to dress formally for a business trip, it is not uncommon for private flyers to dress down if they’re traveling with friends and family. However, even if it’s a leisure trip, you might want to leave the shorts and flip-flops home. BE PUNCTUAL No one likes delays, and it’s up to you if you want to arrive on time. There is no such thing as being fashionably late to a flight. Remember the rule - “if you’re on time, you’re late.” So get to the airport with time to spare to have time to board and settle in comfortably. DON’T BE A PICKY EATER This isn’t an obvious one, but try to be kind and think of the person serving you when making requests. This doesn’t mean you should refrain from asking for a beverage or a meal, but try to keep the requests simple and possible to accomplish. Don’t forget you’re on an airplane. In addition, if you have any diet restrictions, make sure you inform the crew at least a day before so they can accommodate your request. TRAVEL LIGHT First-time private flyers often don’t know how much baggage they can bring. Remember, the space

Photo: Olena Yakobchuk / Shutterstock.com

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is limited, and every extra pound will require more fuel. However, as a golden rule, you can bring a large bag and a carry-on, but always double check with the company or the pilot directly, as the maximum weight limit may vary. As a side note, remember that the pilot’s job is flying the plane, not carrying your heavy bags into the cabin. TIP IF POSSIBLE Finally, as your trip comes to an end, it is highly recommended to tip your crew if you’ve enjoyed their services. While it’s not mandatory, it’s greatly appreciated, especially if they went above and beyond satisfying your every need. As far as amounts, it will depend on the person, the duration of the flight, and the location. For instance, it’s more common to tip in the United States than in Europe. EG

119 Boulder Circle

QUINTESSENTIAL MOUNTAIN MODERN SKI HOME Area: Breckenridge Sub Type: Single Family Subdivision: Boulder Ridge

Price: $16,995,000 MLS#: S1034052

Quintessential Mountain Modern Ski Home! This 7-Bedroom, 10-Bath Family Legacy Home is being custom crafted by New West Partners to be one of very finest homes ever constructed in the Breckenridge Market. Enjoy direct ski access to the Base of Peak 8, then retreat through the Private Ski Storage and enjoy the Roof Top Decks with Full Spa, Outdoor Kitchen, and 3-Living Areas.

132NGOLDFLAKETERRACE.COM

105EADAMS.COM

99 Boulder Circle

ICONIC BRECKENRIDGE SKI HOME Area: Breckenridge Sub Type: Single Family Subdivision: Boulder Ridge

Price: $11,895,000 MLS#: S1031741

This iconic 5,914 square-foot, ski-in mountain modern masterpiece is nestled at the base of the magnificent Peak 8 Breckenridge. This fully furnished home will include 5 bedrooms, 8 baths, an elevator, bunk room, office, spacious 4-car garage, plus a roof top entertainment deck.

99BOULDERCIRCLE.COM 132 N. Gold Flake Terrace

MOUNTAIN MODERN BRECKENRIDGE MASTERPIECE Area: Breckenridge Sub Type: Single Family Subdivision: Weisshorn Subdivision

Price: $14,892,000 MLS#: S1031739

This elegant 7,446 SF of mountain modern architectural design was created with impeccable vision by awardwinning KA DesignWorks. Currently under construction by New West Partners with all interior finishes and furniture selections by ColorView Design Group. Enjoy panoramic Ski Area views from this prime in-town location. Resort style amenities include a private spa retreat casita, heated roof deck, plus auto-court.

13 Adams Street Townhomes

FRONT ROW, BRECKENRIDGE MAIN STREET

132NGOLDFLAKETERRACE.COM

Area: Breckenridge Sub Type: Townhouse Subdivision: Stiles Addition

Price: $1,300,000 / Share MLS#: S1031742

25% Deeded Ownership Interest. Adams Place Townhomes are a front-row opportunity to enjoy the elegance and small-town charm of Breckenridge, one of the most popular historic ski towns in North America. These 3-bedroom, 3-1/2 bath tri-plex homes, under construction by New West Partners, are one half block off Main Street and include rooftop decks with unobstructed ski area views.

105EADAMS.COM 99BOULDERCIRCLE.COM Eric Dahman

Maureen Evans

BROKER, PARTNER

BROKER ASSOCIATE

(970) 485 5213 EricSellsBreck@gmail.com www.breckenridgeassociates.com

(970) 389 0641 moevansrealestate@gmail.com www.yoursummitrealestate.com

EXECUTIVE EDUCATION

EFMD

Photo: Matej Kastelic / Shutterstock.com

The Future of Lifelong and Executive Education Have you heard of Byju? If you follow cricket, you may have seen the name on the shirts of the Indian cricket team this year, but otherwise, it seems unlikely. But you should know Byju as it may be a big part of the future of lifelong and executive education. Article by

Andrew Crisp

CO-FOUNDER, CARRINGTONCRISP

yju started just over 10 years ago in India with an app for mobile phones to teach young children better maths skills. Recently, it announced a deal to license Disney characters to support their learning tools for children. At about the same time, the company suggested one of its next steps would be a move into workplace learning. It’s not difficult to see how a company that builds brand recognition and loyalty with children and continues into workplace education could become a key player in lifelong learning. Especially, when you discover that at its last fundraising round, Byju was valued at $18.5 billion. It’s no surprise to learn that COVID has accelerated digital adoption across society, and learning is no different. In a recent study with LinkedIn, entitled ‘The future of lifelong and executive education’, CarringtonCrisp discovered that two-thirds of employees will increasingly use online methods to develop themselves and their careers and more than three-quarters (79%) of employers anticipate online learning becoming the standard approach to developing people in their organisations. It doesn’t have to be Harvard, it could be any number of business schools that have a reputation with an employer and a strong online offering, but brand will certainly be key. Building a lifelong learning journey in an organisation probably means having more than one partner, but you may choose a core partner to be with you on the journey. Just over eight out of ten employers (81%) agree that their organisation will seek to build long-term relationships with learning providers to build

understanding of their business and maximise impact from learning. Brand is also key for individual learners: 62% agree it is important that any future learning they undertake is with a provider with an international brand reputation. When a learner is investing in their future, they want to know that they will get a return on their investment, that a future employer will recognise and value their qualification and the provider of their learning. As new providers enter the marketplace, brand becomes ever more important as a sign of quality. Brand also plays another role related to the choice of learning provider. With learning increasingly available on an “anytime, anywhere” basis, top-of-mind awareness of a learning provider will be key. For the learner at work who needs to quickly develop a new skill or build on an existing skill to help in their current role or for a new role, provider awareness will be key in making quick decisions. There will no longer be months of researching the market while a learner waits for a once-a-year, fixed starting date at an institution. Instead, needs will be identified on a Monday, learning will start on a Tuesday, and impact at work will commence on a Wednesday. Increasingly, the first thought of adult learners won’t be to enrol for a degree. At a recent conference, a Business School Dean suggested employees will change jobs nine or ten times in their lifetime and while every change might be a learning opportunity, they won’t be taking a degree each time. Instead, learners will sign up for diplomas, certificates, microcredentials, digital badges and much more. And if their new qualification has been delivered by a well-known provider with a strong brand reputation, the qualification gains portability, meaning the learner has something that they can take from employer to employer and it will be valued. That doesn’t mean new providers won’t have

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success in the market. LinkedIn Learning has already been used by 1 in 5 learners who took part in a study on the future of lifelong and executive education. Similar numbers of respondents indicated they would consider using FutureLearn, eduCBA, Coursera, ServiceSkills.com, Open Sesame, General Assembly, 2U and edX in the future. And that future may already be here. In the second quarter of 2020, Coursera registered 5 million new users on their platform – that is the equivalent of almost every EQUIS accredited business school in the world each recruiting 25,000 new students in just 3 months. NEW APPROACHES TO CORPORATE LEARNING There’s no doubt that there is a growing demand for new approaches to learning among employers and employees. While training and development budgets took a hit during earlier stages of the pandemic, 51% of employers who took part in the CarringtonCrisp/LinkedIn study suggested that spending had been frozen over the past two years, 48% expect growth in the next two years. Just over two years before the pandemic arrived, McKinsey in their study, ‘What the future of work

Article originally published in Global Focus https://www.globalfocusmagazine.com/the-future-of-lifelong-and-executive-education/

EXECUTIVE EDUCATION

EFMD

will mean for jobs, skills and wages’, suggested that 350 million workers would have to reskill or upskill to remain in employment. If we add in the digitisation of the economy that has come about because of the pandemic, then the number needing to acquire new skills will have grown significantly. The evidence for large scale reskilling can also be seen in a number of corporates in the USA. Starbucks, Chipotle, Walmart and now Amazon have all announced programmes that will provide free college and other skills development programmes to their employees. Amazon alone has over 700,000 staff in the USA. Skills, and with them career development programmes, will increasingly be seen as an employee benefit, used by employers to retrain and retain their staff. Much of this reskilling will be done online. One interviewee in ‘The future of lifelong and executive education’ report commented, ‘Online is here to stay and a lot of Chief Learning Officers have caught up with the fact that online providers can do it well and deliver it at much cheaper prices.’ Studies published by Shell and IBM both found that by widely adopting e-learning across their businesses, both companies had each saved around $200 million from their learning and development budgets. www.executive-global.com

It’s not just how people learn and the qualifications they want that are changing, but the skills they choose to learn as well. Inevitably there are a host of digital skills that are important, but the list of interests is much longer. For employers, the top five skills identified as important for their business, but not widely available are: Change management, Resilience/mindfulness, Global mindset, Ethics and ethical behaviour, and Managing across cultures. Other studies highlight the importance of skills such as Diversity, equality

TRADITIONAL SKILLS SUCH AS LEADERSHIP REMAIN POPULAR, AND ALONGSIDE COMMUNICATION, THIS IS ONE OF THE TOP TWO SKILLS SOUGHT BY INDIVIDUAL LEARNERS.

and inclusion, and managing a multi-generational workforce as people live longer and work later into their lives. Traditional skills such as leadership remain popular, and alongside communication, this is one of the top two skills sought by individual learners. But learners may be seeking new approaches to leadership. Instead, leading remotely and digitally from the other end of a laptop screen is of growing interest to learners with a recent suggestion that the influencers and YouTubers of today may have the skill sets to be the leaders of tomorrow. For individual learners, the list of skills they are seeking still includes subjects such as strategy and marketing, but also social impact, responsible management, and decision making in complex and uncertain times. The demand for skills was well summed up by a Dean at a business school in North Africa when he said ‘Corporate needs are evolving very quickly in turbulence, needs are not clear yet, but just like a tango, they are moving forward.’ He might have added that, just like a tango, needs can change direction very quickly. EG

For further information, please visit: www.globalfocusmagazine.com Spring-Summer 2022 •

EXECUTIVE EDUCATION

Association of MBAs

Transforming The Business Model for Management Education Andrew Main Wilson shares key findings from new AMBA & BGA research, and asks whether Business Schools are prepared for the growing pressure to overhaul their delivery models. Photo: Pressmaster / Shutterstock.com

Article by

Andrew Main Wilson CEO, AMBA & BGA

ast month at the AMBA & BGA Global Conference 2022 in Lisbon, we unveiled the initial findings from AMBA & BGA’s report into transformation, and the emerging business model shift in business education, in association with Salesforce.org. We will reveal the full results in the September edition of Ambition and the full report will be released shortly, but I wanted to take this opportunity to share a few headlines with you. This piece of research was drawn from a survey of 144 global Business School leaders. It found that 72% of participants believe their institution provides a personalised experience for their students. This trend is only set to advance with 88% agreeing that personalising the learning experience is something that will grow in importance over the next five years.

TAILORING EXPERIENCES TO STUDENTS The Business School leaders who took part in the research showed that they are, for the most part, confident that they are addressing the needs of students using the new trends that are emerging in higher education. A staggering 80% believe that their Schools are under pressure to change their value propositions and business models. This finding suggests that the sector may experience further changes in the short term as Business School delivery models shift to enhance the personalisation of learning offered. Well over half (58%) of Business School Leaders believe their School is meeting their students’ expectations to a great extent, and 72% believe they are offering a personalised experience to their students. Meanwhile, a quarter (25%) of survey respondents believe that micro-credentials represent the future of higher business education, and more than a third (35%) see micro-credentials provided by companies such as LinkedIn as a threat to how their Business School will operate over the

ANOTHER PREDICATION FROM THE BUSINESS SCHOOL LEADERS IS THAT OFFERING ONLINE COURSES AND DEGREES WILL BE THE NORM IN THE NEXT FIVE YEARS (38%).

next five years. In fact, half (50%) of the leaders we surveyed told us that their Schools have already delved into the world of micro-credentialing, and 80% offer online learning in courses. While it seems as if these new trends are firmly in place at many Schools, there is an awareness that more change could be brewing.

• Productivity, Strategy, Profitability

Nine out of 10 leaders (88%) believe that personalising the learning experience of their students is something that will grow in importance over the next five years. Another predication from the Business School leaders is that offering online courses and degrees will be the norm in the next five years (38%). CHANGE IS INEVITABLE Business Schools are on the precipice of change, and while many have dipped their toes in the water of this transformation and model shift, there is an awareness that things will change to an even greater extent. Business education leaders have already shown themselves to be resilient and flexible in the past two-and-a-half years, when faced with the Covid-19 pandemic, and these survey findings indicate they are well placed to face the growing pressure to transform their business models. EG

For further information, please visit: www.mbaworld.com

Kelleher International , the world’s leading matchmaking rm launches its new KI Social Club. Our private KI Social Club combines global changemakers with meaningful initiatives and the worlds most eligible singles. Social Club membership is by invitation, and provides an active experience within the exclusive Kelleher network where we meet, mix and mingle in exotic locations world-wide. Each experience is designed and curated for a positive global impact, with love and purpose always centric to our theme. Whether you are newly single, dating but now ready to nd your soulmate, or in a relationship and looking to network through our exclusive KI Social Club, Kelleher opens doors to new relationships. Inquire for membership opportunites and learn how we Match on Purpose.

Four Hearts Ranch, South Cariboo, B.C. | Offered at $23,800,000 (CAD) A Unique Property Shaped by Nature. Four Hearts Ranch, has been envisioned, assembled and built, woven into 5,925 acres of roaming pastures, forests and lakes. This property offers limitless opportunity for leisure and enterprise. fourheartsranch.com Faith Wilson +1 604.224.5277

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Seven Stones Winery, Cawston, B.C. Canada | Offered at $8,700.000 (CAD) Set on 25 acres in the Okanagan Valley. Complete with vineyard, tasting room, wine caves, crush pad, bottling area, warehouse, equipment, and helipad. The estate also includes a beautiful 3 bedroom, 3.5 bath home. Jeffrey Sefton +1 778.235.4501 & Audrey Zimmermann +1 250.689.9798

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3603–938 Nelson St. Downtown, Vancouver | Offered at $8,288,000 (CAD) Panoramic Ocean, City and Mountain views. This 4,674 sq ft private, secure residence features 5 bedrooms and 7 bathrooms on one level. Combining 3 suites, you’ll love the expansive layout & floor to ceiling windows showcasing amazing views. Faith Wilson +1 604.224.5277

LUXURY LIFESTYLE

Kelleher International

Elite Upscale Matchmaking Our special interview on Elite Upscale Matchmaking with AMBER KELLEHER-ANDREWS, President & CEO of Kelleher International, Inc, returns to the relationship experts with a core philosophy designed around connecting people on purpose and finding the perfect match for tycoons, moguls and celebrities. Executive Global once again sits down with the renowned professional matchmaker to the world’s rich and famous. Tell us how Kelleher International may help connect long-term life partners to High Net Worth individuals who may have too busy a schedule, not have the energy, or too high of a profile to spend time searching for the best prospects? By leveraging our decades of experience and AKA unique processes, Kelleher is able to optimise our clients’ time and create opportunities that they would not typically have access to on their own. Our highly discreet, detailed vetting and hand selection of each candidate allows the client to address their own pressing schedules and still enjoy highly curated matches who align with their articulated priorities. EG

matter how gorgeous she is, this is not a good fit. When we match clients with the same values, and they have many similarities - all it takes is chemistry. When that clicks, we know almost before our clients - that we have a marriage! That is why we do what we do, and why our job is so rewarding, You are the longest standing global matchmaking company in America and operate like an executive search firm. Why is it that your unique approach typically leads to such a high success rate?

And how fundamental is a professional matchmaking firm like Kelleher International to align the morals and values of suitors, which is a crucial element in ensuring relationships stand the test of time? I have always believed that AKA matching clients based on values and morals is the main key for a lasting relationship. At Kelleher, we interview our clients personally and we really get to know them. We ask critical questions to find out their philosophy in life. What is most important to them in a relationship, and what do they value most? What doesn’t work for them and what are their deal breakers? Our clients are well educated, successful and very picky. If our client is looking for ‘the right one’ and would like to marry and have children - education may be a big factor. If they marry someone who doesn’t care or think their children’s education is important this is going to be a problem later in their marriage. If our client is extremely adventurous and they love river rafting, and maybe running, biking and swimming in the half ironman in Hawaii, a partner who is not very active and only enjoys 5-star hotels, and the beach - no EG

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LUXURY LIFESTYLE

Kelleher International

Our unique approach was pioneered by Kelleher founders, Jill and Amber. Our network of both clients and participating members are largely based on referrals, and we diligently vet to ensure the integrity of our network. Because we have regional teams around the country, and because we continually meet as teams to match our clients, we’re able to maximise our efforts. Relationship & dating coaching, philanthropic events, and strategic partnerships have further added value for members. We’re committed and proud of what we do! AKA

How important is it for individuals to find out about themselves and all that they want out of life, before embarking on a journey to find their ideal partner, and can you give examples of why this is so critical? Like any endeavour, the right preparation AKA leads to the right actions and results. In the realm of relationships and finding the right partner, this means knowing what you want in a partner and why. It also means understanding our own patterns and choices that may or may not have become obstacles to creating a healthy partnership. Our matchmakers seek to ask clients the right questions; they seek to get clients to ask themselves the right questions. As a result, finding your partner was the initial goal but you also gained a better understanding of your patterns, sense of self, more confidence, clarity, and purpose? EG

Tell us about KI Social Club and how some of your member events can bring couples together through a shared greater purpose? EG

Over the years I have been able to create intimate leadership gatherings which have become powerful incubators for world-changing ideas. This attracts men and women who often are at the same crossroads of their life and the added magic is when this also sparks love between singles who may not have met otherwise. AKA

If not initially looking for love, could signing up for membership at Kelleher International also serve as the ultimate solution for expanding your social circle to include networks and friendships with the world’s most powerful and successful people? In today’s uncertain world, discretion is key. AKA Membership in the KI Social Club is completely confidential giving our community a unique opportunity to be paired up with changemakers for passion projects, philanthropy, and powerful business ventures. Whether you are newly single and not ready for a relationship or currently in a relationship through Kelleher, the KI Social Club brings together like-minded individuals who enjoy living life to the fullest and desire to meet other global leaders to inspire growth, spark innovation, expand minds and pursue a higher purpose in love, for the planet, and for our collective humanity. Members join us for meaningful content and social networking while attending trips of a lifetime. From private supper parties to leadership gatherings and exclusive retreats with a purpose, the vast array of KI connections offers its Club members many entry points into new love, powerful relationships, and inclusion into an unparalleled community. EG

With an impressive list of famous clients including Paula Abdul, Terrell Owens, Jennifer Aniston, Academy Award winners and the heads of Fortune 500 companies, what’s your secret to remaining the number #1 choice for wealthy discerning individuals, time and again? While I cannot comment on AKA who our previous clients are or who the media believes they are, we do have a very impressive client history with great success. As our statement goes, we transform lives through purposeful connection and love. Whether you’re a busy CEO, a public figure, or a billionaire that likes their privacy; our unparalleled experience, dedicated matchmaking team and personalised approach is why many successful individuals choose Kelleher International. EG EG

For further information, please visit: www.kelleherinternational.com www.executive-global.com

Spring-Summer 2022 •

LUXURY LIFESTYLE

Allen Tate Realtors Highlands-Downtown Office

An Inspired English Countryside Manor Casa Bella – As Giorgio Armani once said “Elegance does not catch the eye. It stays in memory.” Article by

Darlene Conley

BROKER-ASSOCIATE, ALLEN TATE REALTORS HIGHLANDS OFFICE

luxury vacation home is about blending a lifestyle with the natural beauty surrounding it. Casa Bella is an English countryside manor inspired by the natural beauty of the surrounding Blue Ridge Mountains. The home’s exterior elements of stone, wood, copper, shake roof, and English country gardens partner naturally with the majestic back drop of the Carolina blue sky and long-range views. The koi pond with waterfall and beautiful natural foliage frames the entrance of this stately home. Walking through the front door of Casa Bella, a wall of glass doors and windows showcase the panoramic mountain view. Cherry wood coffered ceiling accent the two-story stacked stone wood burning fireplace. A solid cherry wood floating staircase with the custom designed cherry wood railing, takes guests up to the library loft and guest rooms or to the terrace level with additional bedrooms, fitness room, media room, family room, and a large, covered porch. The main level has an open concept living and dining with French doors leading to an oversized covered porch. Cherry wood custom cabinets, double beveled edge granite counters, oversized copper apron sink, top of the line appliances, large center island for prep and a walk-in butler’s pantry make the kitchen at Casa Bella a chef ’s dream. After a long hike or playing golf at one of the eleven private country clubs, the owners can enjoy a private massage, or relaxing in the sauna or jacuzzi in their private spa. A wonderful hidden room perfect for a kids play area and home offices on main and upper level, with access to high-speed internet allow the owner to stay connected for work/life balance. Garage apartment, accessible from the inside of the home, has vaulted tongue and groove ceilings, hardwood floors, kitchenette and private bath. Home has oversized three car garage, vehicle charging station, encapsulated crawl space, paver driveway, generator,

HOME HAS OVERSIZED THREE CAR GARAGE, VEHICLE CHARGING STATION, ENCAPSULATED CRAWL SPACE, PAVER DRIVEWAY, GENERATOR, ELEVATOR TO MAIN AND TERRACE LEVELS.

elevator to main and terrace levels. Highlands is referred to as the Aspen of the East. The abundant natural resources that weave in and out of the raw and rugged topography of the plateau are not privately held like they are in Breckenridge, Telluride or Aspen. They are National Forest lands that assure that no development will take place as the population expands. Road building will be

• Productivity, Strategy, Profitability

limited, city and towns will be smaller as there is no place for the cities to expand due to the topography. Towns, communities and recreational areas have been developed with respect to keeping our natural resources preserved while allowing for a very vibrant small business community to prosper. For the Foodie, there are several Wine Spector award-winning restaurants. Several regional events take place on the plateau; Women in the Field: Ladies’ Fly-Fishing Excursion; Bear Shadow Music Festival and the Highlands Food and Wine Festival. Accessibility to and from the area is easy, from the Asheville Airport, a scenic two-hour drive. From the Atlanta Airport it will take about twoand half-hour drive. Should you travel by private plane you can land at the Macon County Airport. Travel by Helicopter can be arranged, but there are limited landing areas. EG

For further information, please visit: www.AllenTate.com

2 2 S Q U I R E S P O I N T , H I G H L A N D S , N O R T H C A R O L I N A , N C 2 8741 7 BEDROOMS | 9 BATHROOMS | EXCLUSIVELY OFFERED AT $5,300,000 | MLS# 98568 This English countryside manor was inspired by the natural beauty of the surrounding Blue Ridge Mountains. The home’s exterior elements of stone, wood, copper, shake roof and English country gardens partner naturally with the majestic backdrop of the Carolina blue sky and long-range views. The koi pond with waterfall and beautiful natural foliage frame the entrance of this stately home. Large picture windows, cherry wood coffered ceiling, solid cherry floating staircase, custom designed cherry wood railing, cherry wood flooring and two-story stacked stone wood burning fireplace offers a warm welcome into the open concept living with French doors leading to an oversized covered porch and offers panoramic long range sunrise & sunset mountain views.

Darlene Conley B R O K E R - A SS O C I AT E

Contact - (404) 427 2448 Email - darlene.conley@allentate.com Web - darleneconley.allentate.com

LUXURY LIFESTYLE

Martha Turner Sotheby’s International Realty

Penthouse Living at The Arabella The majestic and boldly modern Arabella has joined Houston’s vertical-living party with enviable panache. Arabella takes luxury condominium living to new heights, literally and figuratively, and bids fair as the premier address of the city’s Uptown/River Oaks district. rabella’s vanguard of building amenities includes a concierge; valet parking ; indoor pool; outdoor pool and firepit; fully equipped gym; dry sauna and massage room; living and conference rooms, dining room with private kitchen, and party room with bar/lounge for residents and their guests; wine storage lockers; guest suite; and dog salon. This light-filled, custom-upgraded, 4 bedroom, 5.5 bath, 4,400 sf +/- penthouse on Arabella’s 29th floor offers an open floorplan with a private elevator; private sky pool; soaring 12-foot ceilings; sweeping wall space for art; Escelera hardwood flooring; banks of full-length windows; porcelain slab or marble countertops throughout; porcelain tile bathroom floors, tub and shower surrounds, and pool deck/patio hardscape; bespoke closets; fiber optic wiring with surround sound; pre-wiring

4521 San Felipe Street #2902 Houston, TX 77027

REAL ESTATE IS IN MY BLOOD. I LOVE SELLING ALL TYPES OF RESIDENTIAL REAL ESTATE, BUT IT’S TRULY A DREAM COME TRUE GETTING THE OPPORTUNITY TO SELL A ONE OF A KIND, ULTRA LUXURIOUS PENTHOUSE. THIS PROPERTY IS TRULY UNLIKE ANY OTHER IN THE CITY.

for solar shades or curtains on all windows; LED lighting; and three HVAC zones. European sensitivity for public and private space influences this home’s interior design. The elevator opens into a foyer that transitions into grandly scaled formal living and dining rooms enhanced by a backdrop of panoramic downtown views shared by an adjoining study. The dining room also has glass doors and a view of the elevated sky pool. The gathering kitchen, intended for sophisticated cooking and entertaining, features a peninsula with pull-up seating; all-Gaggenau appliances, including a coffee system; and highgloss Eggersmann cabinetry. Service areas include a mudroom with a back entrance; laundry room; and a service bath. Informal spaces feature a superbly appointed

• Productivity, Strategy, Profitability

primary suite and sitting area that overlooks the private pool. The primary bath offers two complete baths with heated floors, Eggersmann cabinetry, walk-in showers, a deep soaking tub, and two water closets. A pair of walk-in closets, ready for bespoke fittings, have full-length windows. Large, airy ensuite bedrooms, cantilevered from the building, offer full-length windows, bespoke walk-in or step-in closets, balcony access, and luxuriously appointed baths. Additional amenities available with ownership include a private three-car garage within the building garage, three private walk-in storage spaces, and the building’s 24/7-armed security. EG

For further information, please visit: www.HedleyKarpas.com

Sarasota F L O R I D A

GET THE SARASOTA LUXURY HOMES APP and let us help you find the home that fits your heart’s desire. You’ll get a direct connect to our high-end real estate team for valuable guidance and advice to support impactful decisions and peace of mind.

PETER G. LAUGHLIN Broker-Associate 941.356.8428 Peter.Laughlin@PremierSIR.com | PeterGLaughlin.com

Sotheby’s International Realty® and the Sotheby’s International Realty logo are registered service marks used with permission. Each office is independently owned and operated. Equal Housing Opportunity.

LUXURY LIFESTYLE

H.J. Fotinos, Inc

San Diego Luxury Land Acquisition Experts Harry J. Fotinos has been in the real estate business since 1991, offering his clients a comprehensive approach to land acquisition and sales in the field of residential lot development. His field of expertise includes services such as market analysis, site selection and initial valuation. hanks to Fotinos’ experience in the domain, his clients have long benefitted from his ability to counsel them on matters of deal structure and financial modelling. He is devoted to client satisfaction and works diligently to provide them with the most accurate feasibility study in order to identify potential obstacles, upholding the best interest of all parties engaged in the deal.

A WEALTH OF EXPERTISE IN REAL ESTATE DEVELOPMENT During the course of his long-spanning and successful career, Harry J. Fotinos has been responsible for managing the acquisition of thousands of lots for development opportunity and residential properties. Now at the head of his own company, H.J. Fotinos, Inc., he specialises in negotiations for undeveloped land acquisitions. Prior to opening his brokerage firm, Fotinos has amassed more than two decades of experience in the real estate industry, touching on its many areas. Between 2014 and 2020, he served as a Senior Advisor for Sperry Commercial and Sperry Van Ness Renaissance; before that, he held various positions at KB Home for 17 years, including Senior Manager in Land Acquisition. OWNER OF H.J. FOTINOS, INC Today, Fotinos puts his years of industry experience to use as the CEO of his own company, H.J. Fotinos, Inc., which focuses on providing comprehensive consulting in real estate for buyers, sellers and developers alike. The firm offers a wide variety of services, including market research, acquisition opportunities, price analysis, feasibility study, contract negotiation, and overseeing transactions. Both buyers and sellers benefit from its dedication to client satisfaction and the extensive experience that is at the core of H.J. Fotinos, Inc.. Buyers entrust them with locating, analysing, and negotiating an acquisition that fulfils their intended business objectives, while sellers enjoy their expertise when it comes to pricing

BOTH BUYERS AND SELLERS BENEFIT FROM ITS DEDICATION TO CLIENT SATISFACTION AND THE EXTENSIVE EXPERIENCE THAT IS AT THE CORE OF H.J. FOTINOS, INC

• Productivity, Strategy, Profitability

and advertising their assets effectively. Among some of the acquisition opportunities the company currently offers, you can find: Benton Street and Washington Street, Winchester, CA 92596 17+ acres in the commercial zone at the heart of the growing French Valley, where thousands of new properties have been developed in the last 15 years. The Winchester 1800 Specific Plan, which includes this land, is approaching completion. Simpson Road at Dawn Lane, Winchester, CA 92596 and Benton Street and Washington Street, Winchester, CA 92596 Three of four properties with a 128-lot, approved Tentative Map, TM33700, in a developing area just next to the quickly appreciating Pleasant Valley community. EG

For further information, please visit: www.hjfinc.com

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LIVE INSPIRED As experts in real estate, we are passionately committed to satisfying our customers’ needs on a daily basis. Our global marketing strategy combines the know-how of our team with a powerful worldwide network. Thanks to our presence in the most sought-after locations, our referral system allows us to connect buyers and sellers based in different countries and offer them a selection of the finest properties wherever they choose.

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