Transcript of the above video:

As the title of this video suggests, we are discussing the imposition of a travel ban in Vietnam, but then folks might be looking at the thumbnail and saying, “Why do you have ‘Asian Banking News’ as the thumbnail?” Well, it turns out these two things go hand-in-hand. I initially thought of making this video after two different people sent me emails with a link to a YouTube video. We’ll go ahead and put the thumbnail from that video up on the screen. The name of the YouTube video is: Vietnam imposes new travel ban; won’t let you leave. I am going to go ahead and read the description to that video right now. I urge those who are watching this video, go check out that video for yourselves; I will put a link in the description below. Quoting directly: “Vietnam just ended banking privacy under a shocking new financial Decree 252. If the AI surveillance system flags your bank account, a sudden travel ban could block you right at the airport gate.” – What does that sound like? Remember what the Phue Thai faction of the last Government tried to do going back into I believe it was the beginning of 2025, the end of 2024, which to his credit, and there are things you can criticize our current Prime Minister for, in his capacity as Interior Minister at the time, he rolled out the Thailand Digital Arrival Card, and I did the videos on this talking about this, that effectively bumped that off. It was sort of like that scene – I might use this as a thumbnail now that I think about it, I might not use Asian Banking thumbnail - that scene in Hunt for the Red October, where the Dallas comes flying up out of the water in order to basically attract the torpedo away from the Red October ship. If you haven’t seen that video, check that out for yourselves; I will put the link in the description belove to that if you want as well. But basically, Anutin sort of bumped, deflected, this at least momentarily. They were trying to roll this out - I did the videos on this - they were talking about the tax clearance certificate, the authority that was, it still exists under the Thai Tax Code. They basically wanted to create man traps at the airport where they can basically, because they have the tech now and the AI and the digitization and the cross-collaboration between all these different Government entities, now the banks, and through all this OECD nonsense, we are all going to be tracked and traced through this totalitarian banking grid. But long story short, they will be able to see people’s banking history, stop them at the airport, and shake them down for money. That is what it comes down to.

Quoting further: “Vietnam’s new banking and tax reporting rules could change everything for people living, investing or doing business in the country. Under Decree 252, banks, credit institutions, and payment processors must provide detailed financial information to tax authorities, including account balances, transaction history, income, and domestic or international transfers. But this is not just about tax reporting. When banking data, AI monitoring, media reporting, OECD-style global transparency, and exit-ban rules are combined,” – those exit ban rules, that pertained to tax clearance certificates over here in Thailand, there are still tax clearance offices at the airports. They just haven’t used it in years because of the backlash, the negative publicity and back in the day, they rolled out VAT here in Thailand and basically just sort of mothballed the old system. Now we are seeing all this globalist nonsense, again as the result of undue foreign influence, mostly from banking institutions and the likes of the World Economic Forum, as well as the OECD, the so-called Organization for Economic Cooperation and Development, trying to roll all this back out, notwithstanding the fact we already have enough tax. Okay? This was dealt with once and the Government was fine, but it never runs out, it always wants money. And also, we have these Revenue Departments, especially here in Southeast Asia and Thailand specifically that are all poor mouthing everybody because they don’t have enough money after they shut us down economically for 2 ½ years as a result of all the Covid nonsense, which again was an overreach unto itself. I have been talking about this for a while. Again, this is what they wanted, and by they, I mean the Pheu Thai faction of the last Government was trying to roll this out. And again, there are things I agree with Mr. Anutin on and things I disagree with him on, but you have to look at the track record for what it is and credit where credit is due. TDAC rolled out and this did not happen in Thailand. So you know, and here is Vietnam rolling out exactly what I was talking about that did not occur, and this is what they are dealing with now. Let’s keep quoting. In this video, attorney Ken Duong explains what changed, why it matters, who is most exposes, and why foreigners in Vietnam should play close attention before a tax problem becomes a travel problem.” Yeah, again, this is OECD.  This is undue foreign supranational influence affecting the national Immigration systems of various countries. And now it is coming to Vietnam. They are going to turn Immigration into man traps where they say you owe tax money. And how do you prove that wrong? Where is the due process of law? Where is the affirmative “innocence until proven guilty”? Oh, you just stop at some kiosk and now they can hold you or detain you because they say you owe them something. Again, where is the due process of law? Where is the burden of proof on anyone from the government to prove this up? Oh, you are just stuck with their assessment based on what the AI says? We are all going to be stuck with being dictated to by computers now when we travel? Quoting further: “If you live in Vietnam, own a company, transfer money to Vietnam, use a Vietnamese bank account, invest in Vietnam, or plan to relocate here, this is one update you cannot afford to ignore. Is this a routine crackdown on tax evasion?” “Tax evasion”. “Or are we looking at the real-world testing ground for a broader globalist agenda pushed by the OECD and World Economic Forum? It is the latter. Tax Evasion! I am sick of hearing that. By the way, all these supranationalists, the people at the IMF, the people at the Bank for International Settlements, I expect many of the people who work in the OECD, World Bank, all these globalist institutions, they don’t pay any tax. They are better than us. They are exempt. They are immune. All these people have all their immunities. Meanwhile, we are supposed to have the privileges and immunities of our citizenship and what does that get us? That and a quarter gets us a cup of coffee, I guess. Again, I cannot stress this enough. Credit where credit is due, but one, yeah, I called this out because I saw it coming, but I am very thankful that the current Government became the Government because whey they had the Interior Ministry, they bumped this back. They deflected this off. This could have happened in Thailand back in late 2024, early 2025 and instead, we didn’t get this, and Thank God it went another way. Now that said, I am not super happy with all the coziness with OECD, but at least it is proceeding through some sort of framework where we don't have to walk into the airport and be afraid of getting shaken down, like tomorrow! Quoting further: “Watch until the end to discover the five crucial steps you must take right now to protect your assets, secure a financial backup plan and build a bulletproof Plan B.”

Look, I have got to be honest, and I urge those who are watching this video, go check out that one. This stuff is useful but I don't know that there is a Plan B anymore. I got out of the US a long time ago; I got myself set up here in Southeast Asia, here in Thailand, and honestly, I kind of saw a lot of this coming almost 20 years ago. One, I have got to be honest. If I was looking at this as an outsider, for somebody looking to go in and do business and live long term in Vietnam, I'd be a little bit hazy about doing that at this moment. Again, I think it is to Thailand's credit that our now Prime Minister, then Interior Minister, deflected this off and I think he deflected it because at the end of the day, he has a certain level in nationalism in him and he just can't quite get on board with this whole notion, because it really isn't right. Again it's noted in the UN’s Charter on Human Rights, we have a right to travel; the right to travel is a concept embedded in the US Constitution and the Bill of Rights. I mean again these are basic notions of human dignity to not have to be essentially shaken down. This is highwayman level, literally what they used to call highway robbery; now it's airport robbery. You walk into a man trap and they say you owe them money and you have no way, how do you defend yourself under those circumstances? And they'll be using immigration’s power to detain and the plenary power to make determinations regarding a foreigner’s presence in that given country. It's not a good situation. I am really happy that that faction, the Bhumjaithai faction back then, deflected this off. It looks to me like Phue Thai was just very, very influenced by the likes of the World Economic Forum and now it looks like Vietnam has succumbed to this as well. I'm hopeful cooler heads prevail over there and they reverse this; this isn't good for anyone. But at the end of the day, this seems to be what they are trying to do. We talked about it some time ago. Thailand seems to have pushed it off. I hope they continue to do so because this is anathema to basic notions of liberty both Thai, American, UN Charter of Human Rights, or otherwise.