Monthly Archives: February 2013

British pound strikes seven-month lows amid calls for further weakness

"Sterling's slide came as Martin Weale, a senior Bank of England policymaker, said on Saturday that the pound may need to weaken further, which would help to make exports cheaper and spur growth. 'It may be that high levels of uncertainty and a reluctance to take on new risks have stood in the way of exporters seeking new markets and domestic producers doing what is needed to displace imports,' Mr Weale said in a speech. 'Provided the calmer atmosphere we have seen since the summer is sustained, we may see further benefits of the depreciation.'" Continue reading →

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Guthrie man still “smarting” from police detainment after refusing new “smart meter”

Kaye Beach Feb.20, 2013 By Andrew Griffin at the Red Dirt Report; Guthrie man still “smarting” from police detainment after refusing new “smart meter” OKLAHOMA CITY —  While most customers of Oklahoma City-based utility OG&E fully accept the installation of … Continue reading →

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Foreign asset reporting before FBAR and FATCA: “loyalty questionnaires” for World War II Japanese American internees

"Most of us are familiar only with modern-day attempts to get Americans to report non-US accounts and investments: the controlled foreign corporation laws of the 1960s, followed by the Bank Secrecy Act of 1970, and today’s FATCA. But three decades before TD F 90-22.1 and seven decades before Form 8938, there was WRA 126, 'Application for Leave Clearance', which had to be filed by any Japanese American seeking to leave a War Relocation Authority internment camp." Continue reading →

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G20 vows to combat corporate tax avoidance

"G20 finance ministers meeting in Moscow have pledged to crack down on tax avoidance by multinational companies. The final communique said members were determined to develop measures to stop firms shifting profits from a home country to pay less tax elsewhere. The UK, France and Germany were the main movers behind the drive. The communique also said members would refrain from devaluing their currencies to gain economic advantage, amid fears of a new 'currency war'." Continue reading →

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UK Government and Isle of Man in deal to stop offshore tax evasion

"Under the agreement, a wide range of financial information on UK taxpayers with accounts in the Isle of Man will be passed automatically to HM Revenue and Customs (HMRC). A disclosure facility will allow account-holders to come forward and settle their past affairs before the details are automatically passed on to HMRC. The Treasury said the deal with the Manx authorities closely followed an agreement struck with the United States to improve international tax compliance." Continue reading →

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Excessive Force: Guthrie Cops used to force Smart Meter Installation – UPDATE

Reblogged from OK-SAFE, Inc. Blog: 2/20/13 UPDATE: Red Dirt Report has just posted an update on this incident and fills in some blanks, including comments by OG&E spokesperson Karen Kurtz, who confirmed the incident, while claiming bringing the 3 officers … Continue reading →

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Cisco Won’t Buy Any US Companies Or Hire Any US Workers Until The Tax Code Is Changed

"Cisco has $46 billion in cash, but CEO John Chambers says he is no longer willing to use it to acquire U.S. companies. That's because 80 percent of that cash is stored in overseas accounts and if Cisco spends it in the U.S., the company will have to fork over 35 percent in taxes. For years, he has been trying to get the U.S. to change that tax rule. He's said before that this prevents him from hiring more U.S. workers. But now he's said he's also stopped shopping for acquisition targets in the U.S., too. Microsoft keeps about 87 percent of its $66.6 billion stored outside the U.S.; Oracle, 80 percent of its $31.6 billion; and Apple about 68 percent of its $121.3 billion." Continue reading →

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Islands trade quick citizenship for investment

"Turmoil in the Middle East and North Africa has led to a surge of interest in programs that let investors buy citizenship or residence in countries around the world in return for a healthy contribution or investment. Most are seeking a second passport for hassle-free travel or a ready escape hatch in case things get worse at home. Nowhere is it easier or faster than in the minuscule Eastern Caribbean nations of Dominica and St. Kitts & Nevis. It's such a booming business that a Dubai-based company is building a 4-square-mile community in St. Kitts where investors can buy property and citizenship at the same time." Continue reading →

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Seasteading: Striking at the Root of Bad Government

"We know it is possible to live on the ocean; we know there are ways to make money there, and our mission is to drive down the costs of seasteading to transform the ocean from potential frontier into real frontier and eventually into just another option with some serious advantages. This will lead to experimentation and innovation in governance and force existing States to improve or wither away for a lack of residents. The challenges are large but the potential payoffs are much, much larger. By transforming the political problem of bad governance into a hard but achievable technological problem, which humans have a knack for solving, we make success possible." Continue reading →

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You Should Be Able to “Dear John” The State

"Meet Ray. We'll call Ray a conscientious objector, because he acts out of conscience. People confine this term to those who object to military service. But why do those persons object? A conscientious objector is someone who wants the right to divorce a service provider or institution. He is disgusted by what is done in his name under the rubric of democracy, appalled at what is done with the money extracted from him in taxes. He wants to terminate his support. You may think Ray is noble until I tell you to what he objected: State schooling, otherwise known as 'public schools.'" Continue reading →

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