Grieve replies to Goldstein regarding my 2017 interview.

Goldstein emailed Grieve about an interview I did in which I mentioned that I originally set up Euro Pacific Bank so that my foreign brokerage customers could work with me without having to set up accounts in the U.S. It had nothing to do with banking, money laundering, tax evasion, or any kind of financial privacy. The fact that I used Australia as an example was just a coincidence.

Grieve replies to Goldstein that I clearly admitted that I “set up the bank to get around AML laws.” The implication is that I did this to help criminals launder money. But if you read the quote she included in the email, the problem was overly complex FINRA regulations that made it difficult for foreign customers to open U.S.-based brokerage accounts. So I opened up a foreign brokerage company owned by Euro Pacific Bank to service those law-abiding foreign customers in a less strict regulatory environment. There is nothing criminal about making a business decision to lower operating costs and be more competitive in foreign markets.