Dealing with WeChat/Alipay in China.

[zacb]

I was able to half ass things in China with Western Union, but it seems like paper Renminbi is the only solution. I tried to open the temp account on Alipay, but I was declined either way. Tap to pay worked just fine, but Didi did not seem to work. I did look at public transit, but as I only had one day, I did not want to fart around taking forever, but next time I might just take the train. Having said that, has anyone figured out how to pay for things in China outside debit card or tap to pay?

[yick]

The vast majority of places take cash, I have never had anyone refuse my RMB notes though you might not get change, that has happened when a bowl of noodles cost 17 RMB and I have given them a 20 RMB note they're scrabbling around but getting a Chinese phone number is a total pain in the ass but if you do get one you will be able to subscribe to taobao, alipay and then subscribing to other apps will be a lot easier. It is a lot easier to top up your number when you abroad but if you don't return to China after a period of time, you do lose your number so that is a pain in the ass that happened to me, I topped my former number religiously over an 18 month period when I was outside of China but still lost the f***ing thing.

[yick]

Life is a lot easier with the apps though, I have just come back from the best dentist in the city (wisdom tooth extraction, cost, 40 dollars) and paid through wexin, took the taxi home and again, wexin.

[zacb]

I was looking at EastWest bank in Davao. I am wondering if their bank account would be more compatible vs a US card. I was thinking of the cashless society, but did not realize you could get cash, but I will probably just get cash. Tap to pay worked ok, but I worry about getting around (Didi did not accept my card), but Grab in Indonesia worked. I wonder if I could get a number with Twilio. Regardless, I think cash is the best bet. It would be nice to be able to use Didi, as it is cheaper. I might try to figure out the subway, but I wonder if tap to pay works. ATMs were weird, and Indonesia did not seem to like VIsa cards, but tap to pay was ok. I guess cash is the best. At least Tmobile worked.

[yick]

I was looking at EastWest bank in Davao. I am wondering if their bank account would be more compatible vs a US card. I was thinking of the cashless society, but did not realize you could get cash, but I will probably just get cash. Tap to pay worked ok, but I worry about getting around (Didi did not accept my card), but Grab in Indonesia worked. I wonder if I could get a number with Twilio. Regardless, I think cash is the best bet. It would be nice to be able to use Didi, as it is cheaper. I might try to figure out the subway, but I wonder if tap to pay works. ATMs were weird, and Indonesia did not seem to like VIsa cards, but tap to pay was ok. I guess cash is the best. At least Tmobile worked.

Yes, you can get cash easy enough and if you can get a Union Pay card with a Filipino bank then that would be a good move if you're travelling around Asia in general, you can withdraw anywhere with Union Pay for minimal fees which is what the Chinese do - they don't exchange money before they go abroad, they just use their Union Pay card and withdraw money from the local ATM and of course you will be able to do it in China too.

Nobody will refuse your cash in China, get a bunch of RMB notes before you come here and get them changed into smaller denominations if you or when you get here do it at the airport. Depends where you go, smaller cities and the north/centre are more cash friendly.

[yick]

I have just checked out EastWest bank, they issue Union Pay cards. Get one of those and that's as good as wexin/alipay for the most part.

[zacb]

My Filipina gal friend suggested it, and if I had more time in Davao I might set it up, but had some flight issues. The AUD and Yuan accounts are interesting as well. Also I found a bank in Belize that is pretty decent as well. I like the idea of diversifying outside the US and had been working on it before some f'ed up events happen, but thankfully I am starting to get back on my feet. Feel free to drop me a line. I have been really rethinking things (in a good way) since getting back to the US. It is weird how Asia seems better for hustling and dating and Latin America for retiring/just taking it easy. Until Petro came in plus the wealth tax, Colombia was interesting. But those things plus passport bros make it better to just chill or retire there it seems. The path to freedom post covid is not as clear as before.

[yick]

My Filipina gal friend suggested it, and if I had more time in Davao I might set it up, but had some flight issues. The AUD and Yuan accounts are interesting as well. Also I found a bank in Belize that is pretty decent as well. I like the idea of diversifying outside the US and had been working on it before some f'ed up events happen, but thankfully I am starting to get back on my feet. Feel free to drop me a line. I have been really rethinking things (in a good way) since getting back to the US. It is weird how Asia seems better for hustling and dating and Latin America for retiring/just taking it easy. Until Petro came in plus the wealth tax, Colombia was interesting. But those things plus passport bros make it better to just chill or retire there it seems. The path to freedom post covid is not as clear as before.

They're making it REALLY hard to expat and keep a bank account in the UK, shut mine down and sent all my savings (a hefty sum) in a cheque by first class post to China which means it won't ever get here. Next time you're in the Philippines, get that sorted out because that will help over here.

That Henderson Nomad Capitalist guy is f***ing spot on with his message.

[zacb]

I like Andrew Henderson and Aaron Clarey (but is stuff is dry). One thing I have noticed with my bank is that if I break my profile just a little bit it is fraud alerts up the wazoo. Also the quality of cards has gone down. Not to mention any crypto is a no go. Also my bank is a credit union as well. It is also funny for a short time my brokerage allowed one day transfers, and then they took it away. I have noticed brokerages in the US have gone downhill severely in the last 15 years outside Interactive Brokers. Once I get my savings back up, I plan to open an account specifically for international trading. It just seems like options across the board are shrinking. I will tell you how the EastWest Bank think goes in September. The begging for work (applied to over 1000 jobs over two years) and the lack of options in goods and rising prices of everything make me wonder that if we get paid so much, then where is the purchasing power?

[Shemp]

With regards to banking and investments, if you are a USA citizen, you need to either get as close to the nerve center of USA power as possible, or you get as far away as possible. Don't split your loyalties. Trump, Musk, Gates, Buffett and other USA oligarchs are as close to the nerve center as possible, as are members of the imperial security establishment, including the USA military. If you are close to the nerve center, you keep your money in the USA, use USA banks and regard crypto as a scam for rug pulling suckers. If you are far from the center, you cut financial ties to USA and maybe use crypto to get your money out of USA. Unless are a big fish, like all the scammers in the Trump administration or that Chinaman who owns Binance or those North Korean hackers, you don't try pulling the rug on small crypto fish yourself, because you're just going to get swallowed by bigger fish.

I'm not an oligarch, but I'm keeping as close as possible to the imperial nerve center. All my wealth is USA brokerage and I only ever use non-USA banks to avoid debit card issues. I would never put more than $10K USD total in non-USA banks so as to keep my reporting simple and stay out of trouble with the imperial police. I avoid crypto, though I do own substantial amount of silver (PSLV ETF in USA brokerage, thus connected to the imperial system) .

USA is going down, but this will not affect those close to the nerve center, as long as we are smart. In particular, smart investors own equities, not debt, because we know inflation is coming. Middle class is going to suffer a huge drop in their standard of living. USA oligarchs and those who riding on the cost tails of the oligarchs (like me) will be untouched and actually benefit as we rise relative to the declining USA middle class.

@zacb: military is a lifestyle, not just a career. If you are not enthusiastic about the lifestyle, avoid it. Those military contracts are contracts for 4 years of 24*7*52 slavery: okay if you like your master and the work he will assign you, otherwise hell.

@yick: UK is ahead of USA on the path of decline. You long ago made a choice to get away from the UK nerve center of power (not that you were ever close to that nerve center). As such, you become an insect that the banking powers can stomp on as the please. And that exactly what they did. Use Singapore or other non-UK affiliated banking and investing companies henceforth.

[zacb]

@Shemp , at the moment I don't rally have much choice brokerage wise (long story), but I can usually buy OTC securities just fine, which covers most my needs. I did try to buy Georgia Capital and ad a hiccup, but a trader allowed me to trade for free. As it is I have most my money outside US stocks and feel like I will be skewing towards Asia, with a smattering of Europe and maybe a little South America, but not much. I was just looking at Chinese OTC stocks (but mostly banks), and they had really good discounts with decent dividends. Andrew Henderson mentioned it as I was researching Chinese stocks and I happen to agree (think 5X forward earnings). I am just rebuilding as I used my earnings from covid to buy my condo, so one day at a time. As for the military, that is about the only thing left in the US it feels like (and education kinda). Outside that, it feels like there is not much value add in the US. As for foreign bank accounts, I plan to keep it below that, but want some diversification. I wouldn't mind owning Mexican or AUD treasuries, but the diversified savings are the next best thing.

[yick]

With regards to banking and investments, if you are a USA citizen, you need to either get as close to the nerve center of USA power as possible, or you get as far away as possible. Don't split your loyalties. Trump, Musk, Gates, Buffett and other USA oligarchs are as close to the nerve center as possible, as are members of the imperial security establishment, including the USA military. If you are close to the nerve center, you keep your money in the USA, use USA banks and regard crypto as a scam for rug pulling suckers. If you are far from the center, you cut financial ties to USA and maybe use crypto to get your money out of USA. Unless are a big fish, like all the scammers in the Trump administration or that Chinaman who owns Binance or those North Korean hackers, you don't try pulling the rug on small crypto fish yourself, because you're just going to get swallowed by bigger fish.

I'm not an oligarch, but I'm keeping as close as possible to the imperial nerve center. All my wealth is USA brokerage and I only ever use non-USA banks to avoid debit card issues. I would never put more than $10K USD total in non-USA banks so as to keep my reporting simple and stay out of trouble with the imperial police. I avoid crypto, though I do own substantial amount of silver (PSLV ETF in USA brokerage, thus connected to the imperial system) .

USA is going down, but this will not affect those close to the nerve center, as long as we are smart. In particular, smart investors own equities, not debt, because we know inflation is coming. Middle class is going to suffer a huge drop in their standard of living. USA oligarchs and those who riding on the cost tails of the oligarchs (like me) will be untouched and actually benefit as we rise relative to the declining USA middle class.

@zacb: military is a lifestyle, not just a career. If you are not enthusiastic about the lifestyle, avoid it. Those military contracts are contracts for 4 years of 24*7*52 slavery: okay if you like your master and the work he will assign you, otherwise hell.

@yick: UK is ahead of USA on the path of decline. You long ago made a choice to get away from the UK nerve center of power (not that you were ever close to that nerve center). As such, you become an insect that the banking powers can stomp on as the please. And that exactly what they did. Use Singapore or other non-UK affiliated banking and investing companies henceforth.

Exactly, they have took away my banking rights without my consent, they just shut down my account with any notice and sent an amount in a cheque which is a total disregard of what rights I don't have but I do have two bank accounts, one in China and one in Peru which I will use exclusively from now on but it seems the US has a tentacle hold of all banking systems don't they?

[zacb]

@yick The OECD has the CRA, but for now it is not as bad as the US for now.

[Shemp]

.... As for the military, that is about the only thing left in the US it feels like . .. foreign bank accounts, I ...want some diversification.

You are splitting your loyalties. You do not want to go military while simultaneously having links to foreign countries. Even visiting China is bad on your record, much less banking there. Unless you have special skills, no other country is better than USA. English teacher is a particular special skill that worked for a while but it has a poor job outlook for many reasons, especially advent of AI teachers. Either go military or figure out a way to live between the cracks inside USA, which will continue to have immense amounts of wealth to exploit as it declines. Easiest way to live between the cracks is avoid housing, automobile and healthcare costs while earning a decent living in USA. There are ways to do this in f you are clever.

Andrew Henderson is a scammer who preys on (a) dummies from India, China, African or Arab countries, who stole a bunch of money and now desperately need another passport to escape with their loot, and who can't detect that Henderson is incompetent because they are non native English speakers; (b) dumb Americans who got rich on crypto and are prone to conspiracy thinking and think a second passport is a magic solution to imaginary problems. As USA citizen who is feeling trapped, you are easily bamboozled by these con artists selling the dream of expatting. Stop listening to these scammers, unless you are planning a career as a scammer yourself.

[yick]

I think that is a pessimistic view by Frank. Can AI take over teaching? Maybe but if it was going to do it would have done by now. I am not saying it won't one day but it is a while away and no reason not to go to China now. Teaching is zoo keeping more or less - kids aren't going to listen to information off some f***ing robot! give me a break! Remember when you were kids? Human interaction is still needed - the lazy dipshits who I teach would just sit there and play on their phones if it was some AI robot instead of me teaching them.

As for Henderson, the services he might sell may be a con and overinflated for what you get but what he says is indeed correct, you need more than one bank account in more than one country, it is better to have more than one passport - of which I have both. My multinational bank has just took away my banking rights in a fell swoop and there is nothing (or little) I can do about it, they're a law onto themselves but thankfully, I have two other bank accounts in two different countries. My other passport gives me freedom of movement to another nine countries in South America which is worth a lot.

What I do agree with is that the military is a dead end and incompatible with living 'freeer' in Asia. As Frank says, there are people completely suited the military and the GI Bill is still the best deal there is in getting a working class man a way ahead but does Zac need that? It doesn't sound like it.