If you have money in any bank account, what I'm about to show you could save or cost you hundreds of thousands of dollars. The Genius Act just became law and it's about to change everything about how Americans store and access their money. Wall Street is salivating at the chance to get their hands on your retirement savings through a sophisticated new system that most people don't even know exists. By the end of this video, you know exactly how to protect yourself from what could be the biggest wealth transfer from Main Street to Wall Street in history. And if you're wondering who the heck I am, my name is Felix Perrin. I'm an ex-investment banker who's seen how Wall Street really works from the inside. I'm also the founder of the GOAT Academy. We have over 20,000 students. I'm also co-founder of TradeVision.io, where we make insane data available to you. And I've dedicated my retirement to teaching regular investors how to beat Wall Street at their own game. And today I'm going to expose a policy change that could make you wealthy or potentially wipe out your savings, depending on what you do next. Vietnam just froze 86 million bank accounts overnight. That's nearly the entire population of the country. They introduced mandatory biometric verification, or you'd lose access to your money. This all started on September 1st, when accounts without facial scans or fingerprints were just deleted. Now, foreign residents, for example, had to fly back to Vietnam just to save the HCPC account. I actually have an account in Vietnam. Well, I used to, I no longer do. It's just gone. Was there money in it? I'm not sure. No way to find out. There are no remote options. Nothing you can do. Now you might be wondering, okay, I'm not Vietnamese, I haven't got an account in Vietnam, so why does this matter to Americans? Because this is not isolated. Similar moves are happening globally. The same biometric systems being pushed in the US are the systems they used in Vietnam. And we have a precedent now. What happens when governments can freeze accounts at will? Well, if all of this sounds a little overwhelming to you, I'm actually going to put all of this information and much, much more my research into a workbook. And you can download that for free at felixfriends.org slash 86 million. There's a link down below. Just click on it. FelixFriends.org slash 86 million, and you get your hands on the full research and everything else. Now, you need to understand the Genius Act. Now, what does genius stand for? It stands for guiding and establishing national innovation for US stable coins. Sounds good, right? Stable coins, woo-hoo, crypto, let's go. It was signed into law on July 18th by President Trump and the promises to make America the crypto capital of the world. But the reality is it creates federal regulation for stable coins. Now, it tells us you can issue stable coins, banks, credit unions, basically banks, and Fed-approved institutions. If you're a company and you want to start a stable coin, you need approval from the Treasury, that's political, from the Fed and from the FDIC, which means there'll be no more new stable coins because it's almost impossible to get. So the guys who've got the stable coins, I met one of them in the south of France actually about two years ago, very nice chap. He's rolling in it because he's now got a monopoly on the stable coin. So massive, massive gatekeeping, which is usually only good for you know the incumbents. Now you might think, and it's good to have some regulation, Felix. Don't be such a cynic. Yes, so every stable coin will now be backed by a US dollar, or actually a treasury bill, which is government debt. Why is that the case? Think about how these stable coins work. I buy a stable coin, the stablecoin company gets my dollar. Now they want to make money out of the stablecoin. So what do they do? They put the dollar into government debt, which gets them, I don't know, 5% interest. Doesn't sound like a lot. Well, when we're talking about billions and trillions of dollars, that's rather a lot. There are also regulatory requirements, regular audits. You know, we don't mind that stuff. That's all good stuff. But there is the surveillance component. First of all, all issuers are subject to the Bank Secrecy Act. Everybody needs to comply with anti-money laundering, which means they can ask you where your money came from. And it has the technical ability, and this is the key part here, write this down, to freeze, seize, or burn stable coins when legally required. Someone can go into your bank account, your new digital bank account, they can freeze it, they can steal it, or they can just destroy the money. So what's the real agenda here? This is all about the dollar. Dollar dominance. I'm not against dollar dominance. I like the dollar. But it means that US dollar usage globally will grow because everything is backed by these stable coins. But really, what it does, it concentrates a control mechanism. Every transaction of the future can be tracked a hundred percent and frozen or seized or burned. So, how does this uh regulation? I don't know why I wrote scam, I must have been, I must have meant regulation. How does that actually work? Obviously, uh Freudian slip. So just like oil in the past, it forced countries to buy dollars because oil was only ever bought and sold in dollars, stablecoins do the same thing digitally. Now the US has$35 trillion in debt, and it desperately needs somebody to buy that debt. Foreign countries aren't buying it. You know, the only foreign countries who are buying US debt? The Brits and the Europeans. The rest of the world, the entire rest of the world together, is actually selling US debt. But the stablecoin creates an automated buyer for US debt. It's the only way for stablecoin companies to make money. One of the only ways. And now anybody in the world, all you need is a smartphone, you need a bank account, you can now hold one of these new digital fancy dollars. Now the dollar is in reality just US debt. That's actually what you earn. So here's how it works: you buy a stable coin with real dollars, money you earned. Step two, the stablecoin company, the issuer, they take your dollars, they buy treasury bills with it. Now we've got bias for all of our government debt. And then number three, the issuer keeps the interest, you get nothing. So nothing's really changed because that's just how banks operate, isn't it? So your stable dollar is actually just backed by US government debt. That's all it is. Now, why is this dangerous? Well, to start with, stable coins are basically, therefore, debt funds. Now, what are debt funds known as? Well, Wall Street calls them money market funds because it sounds fancier. If you meet somebody and they say, I'm in money markets, they buy and sell government debt. Exciting. They're very exciting people. And in 2008, when we had the global financial crisis, well, money market funds just froze. And guess what? Banks are bailed, they get bailed out. Stable coins, so far, we're not so sure. So there's some serious panic potential here. And then we have the Palantir connection. And maybe you're like me and you like the stock because it's made a lot of people, a lot of money, and it's some tremendous technology. Founded by Peter Thiel, key Trump ally. And it's a data analytics company, which is just tremendous. It puts the A in AI, it actually works. But they not only have contracts with the SEC and the IRS and everybody else in government that handles money. They work with stablecoin banks to create a monitoring system, a perfect life, real life working monitoring system. Now, how does it work? Well, it requires digital IDs for high-value transactions. Every transaction is recorded permanently, publicly, and your biometric data, your scan, your fingerprint, your facial recognition is linked to the transaction history. It's perfect setup for a spy, right? So what's the result? Complete financial surveillance. And maybe you think I'm being a bit, I don't know, conspiratorial, a bit extreme. Sure, Felix, it can't be that bad. Well, Vietnam just froze 86 million bank accounts. Canada, when they had the trucker protests in 2022, they froze their accounts. Same thing is coming to America, same technology, slightly different packaging. And not just to America, by the way, this is coming everywhere. So who are the winners? The big banks, because they have approval to issue stable coins. Treasury bond market, well, basically the US government can issue debt and sell it to somebody. So they have these forced buyers. And people like Palantir. And they're shareholders, by the way. There's always a way to make money out of every calamity. Who loses? You get a red pen to make this clearer. Privacy. What are you buying with your money? There won't be any cash. You'll just be having to do it digitally, right? Who else loses? Small banks, because they won't be issuing these stable coins. And cash. Cash is a thing of the past. Dubai is phasing out cash by next year. This is not happening in 20 years. This is happening really freaking soon. And those are test markets. They're countries like in the Middle East and Thailand and Vietnam. And those are like testing grounds for US technology. That's what those places are. So what is the opportunity? Surely we can make money out of this. I have a saying for every disaster, there is a win in there somewhere. Let's find it. Physical gold. Yeah, that heavy, shiny, beautiful stuff, it can't be digitally seized or frozen. You might have to hide it. And if you put it into a bank safe deposit box, they can freeze the deposit box. But if you, you know, I don't know where you put it, but uh don't tell me. But you know, then it's actually yours. What about Bitcoin? Well, yes, it is decentralized, but watch out for regulation. I think every digital transaction is going to have some sort of KYC attached to it, which means everything you do with your Bitcoins will also be public. I think you're going to have to register your Bitcoin wallet number with the US government. I think they're going to enforce that. But for the moment, let's be bullish on Bitcoin with a bit of a butt. And then what about foreign monkey money? Well, yeah, you know, you could be in non-US assets and they might be a bit slower to the take. What else? Well, real estate, that's actually real, that's actually hard, that's yours. It's a lot harder to confiscate. So I would limit my stablecoin exposure as far as possible. I would not be overly reliant on digital assets. Keep some physical assets. Yes, you're going to have a lot of your money in your brokerage account and all that kind of stuff, but you want to keep some physical assets, right? And I'm I'm a trader, I'm an investor, I'm a stocks guy, and I'm telling you have some gold, have some real estate, have some physical stuff that you actually own that you could sell because they could freeze money. They could freeze your money, they could seize your money, and don't put everything into the US. Now, if you're American, that's a little harder to do. Well, you could hold different currencies, one way of doing it. Gold, silver, real estate are the obvious ones. And you could be in multiple jurisdictions. So I have bank accounts in multiple countries. Um I have residencies in multiple countries. If you're American, it's a little harder for you because a lot of banks don't want you because your government is a little balmy with its regulations. And you always have to pay tax anyway, so the incentive isn't really there. But I would look into that. And I've been saying this even before this came out. I've been saying you're gonna want to have some money in a different jurisdiction that isn't linked so closely to the US. And quite frankly, keep some. What else is physical? Cash. It's gonna lose value tremendously, but you're gonna want to have some cash because what happens when your bank account is frozen and they might blame some IT issue on that or some you know, national security. ATMs don't work. Uh, what are you gonna do? What are you gonna pay with? And maybe you think that's crazy. Well, COVID was pretty crazy. That actually happened. So, this will be my advice to you. Look for some alternative banking, maybe even overseas. That would be what I would do. Look into crypto, understand it better, maybe have some Bitcoin exposure. Whether you want to keep that offline or online is a whole different conversation. And try to limit your digital footprint. Don't just jump into every single new technology because they're coming for your data. Now, when's this coming? Well, the treasury has some rulemakings to complete, but it's coming. How aggressively will they monitor that? We don't know. But I tell you what, all it takes is for somebody to buy a gun with a stable coin and shoot at somebody political, and it becomes terrorism, and then we're gonna get this crazy ass regulation in place where everything gets tracked to the nth degree, and no one's actually gonna complain about that. So get yourself some international exposure. That's what I would do. And the bottom line here is the Genius Act isn't about innovation, it's about two things. It's about money for the big banks and the kind of people who own tether and things like that. I didn't mention that trap before, right? That was a different guy, lovely guy, very wealthy. Um, it's about control. Think about the next step. What about a 1% transaction tax? Sounds like VAT, doesn't it? Value added tax. You'd be able to just put it on everything, internationally, worldwide, forever. Simplest thing to collect, right? Do you think governments aren't gonna do that? Vietnam shows us a very, very, very uh frightening playbook. So your financial freedom is actually at stake here. So I would find ways to protect yourself. Now, the easiest way to always protect yourself, by the way, is to have more money. That always gives you more options. That's very, very, very simple. So understand these systems before they're properly implemented, diversify. Start building some alternative wealth storage now. Don't tell anybody about it. Please don't put it in the comments. And if you want to take away more information about how to potentially get more wealth, uh, you want to learn how to become a better investor because that's gonna help. More money, more options. Um, they always say more money, more problems, but that was Biggie. Uh, more money, more options is actually what the reality is. You can learn that. It's a 15-minute masterclass down below. And then there's also the free workbook that I made for this video, which you can also download. And uh, there we are. I don't want to scare you. I just think sometimes these things are serious, and there really is only one way to hit it over the head, which is to actually understand it and face it and be like, it's not where we want to be, right? We don't want freaking digital currencies tracking but what Wall Street wants, Wall Street typically gets. Uh so my money is to always follow the money. That's what my plan, rather. So if you got some value out of this video, you know what to do. Share it with a friend. That's the best thing you can do. Share it with a friend, help them be better prepared for what's coming.