Yearly Archives: 2013

Gold Lures Japan’s Pension Funds as Abe Targets Inflation

"Japanese pension funds, the world’s second-largest pool of retirement assets after the U.S., will more than double their gold holdings in the next two years as the new government pushes for a higher inflation target, according to an adviser to the funds. New Prime Minister Shinzo Abe’s pledge to spur inflation to 2 percent and end the yen’s appreciation means Japanese pension funds now have to hedge against rising prices and a currency decline after two decades of stagnation. Gold priced in yen reached a record a week ago." Continue reading →

Continue ReadingGold Lures Japan’s Pension Funds as Abe Targets Inflation

With Eye On China, Japan Weighs Raising Military Spending

"Japan’s new conservative government announced a review of national military strategy on Monday that analysts said was aimed at offsetting China’s growing military power and that may increase defense spending for the first time in a decade. Mr. Abe had promised during the election campaign to strengthen the military to defend Japan’s control of islands in the East China Sea that are also claimed by China." Continue reading →

Continue ReadingWith Eye On China, Japan Weighs Raising Military Spending

Term limits for Congressional ethics investigators removed

"Congress has voted to keep intact an independent office that polices the behavior of House members. Lawmakers approved the Office of Congressional Ethics as part of a package of rules that will govern the new Congress, which convened Thursday. The terms of four of the six members of the office's board were set to expire this week — raising concerns among congressional watchdogs that the office would lose its investigative powers. The new rules drop term limits for board members, allowing top congressional leaders to reappoint current members." Continue reading →

Continue ReadingTerm limits for Congressional ethics investigators removed

White House wins fight to keep drone killings of Americans secret

"A federal judge issued a 75-page ruling on Wednesday that declares that the US Justice Department does not have a legal obligation to explain the rationale behind killing Americans with targeted drone strikes. United States District Court Judge Colleen McMahon wrote in her finding this week that the Obama administration was largely in the right by rejecting Freedom of Information Act (FOIA) requests filed by the American Civil Liberties Union and The New York Times for materials pertaining to the use of unmanned aerial vehicles to execute three US citizens abroad in late 2011." Continue reading →

Continue ReadingWhite House wins fight to keep drone killings of Americans secret

Illinois Bill to Register Buyers of Gold and Silver Coins

"It had to come. It has been introduced in Illinois, the most anti-gun state in the USA. 'Creates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall >record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years.'" Continue reading →

Continue ReadingIllinois Bill to Register Buyers of Gold and Silver Coins

Swiss bank Wegelin, founded in 1741, to close after US tax evasion fine

"Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin, which was established in 1741, has also agreed to pay $57.8m (£36m; 44m euros) in fines to US authorities. It said that once this was completed, it 'will cease to operate as a bank'. Wegelin, based in the small Swiss town of St Gallen, started in business 35 years before the US declaration of independence. It becomes the first foreign bank to plead guilty to tax evasion charges in the US." Continue reading →

Continue ReadingSwiss bank Wegelin, founded in 1741, to close after US tax evasion fine

Passport Denials Long a Feature of U.S. Foreign Policy

"Neither national nor international law appears likely to stop the U.S. government’s concerted efforts to deny due process to those placed on the No-Fly List. While today’s mechanisms of travel control are far more sophisticated than those that Mrs. Shipley had at her disposal, the net effect is virtually identical: Both U.S. citizens and those wishing to visit the United States are denied a fundamental human right. Hopefully, you’ll never be placed on the No Fly List. But if you are, you’ll appreciate the utility of a second passport, 'just in case.'" Continue reading →

Continue ReadingPassport Denials Long a Feature of U.S. Foreign Policy

David Galland: Welcome to the Company Store

"Other than a small percentage of the population who have managed to build enough wealth to break the cycle through diversified investment and income sources, the vast majority of the population lives pretty much hand to mouth. Of the money you earn, close to a majority is now returned to the state in the form of taxes of all description (payroll, property, sales, income, etc., ad infinitum). Then, because it's a rigged game, just like the company store, the money you do manage is steadily debased. And while the situation is bad, it hasn't yet gotten desperate." Continue reading →

Continue ReadingDavid Galland: Welcome to the Company Store

Idaho Adopts Khan’s Free Online Academy

"The state of Idaho’s educational bureaucracy next year will allow public school students in two dozen schools to take Khan Academy’s free courses for full credit. This is a test. This is a huge breakthrough for liberty. It means that a state has tentatively accepted the idea that online education that is provided by a legally independent third party who is not in any way under control of the state’s educational establishment may be as good as classroom education." Continue reading →

Continue ReadingIdaho Adopts Khan’s Free Online Academy

Barter and Alternative Currencies Growing in Greece

"The issue of tax reporting is brought into the article – and an insinuation is made that people are dodging taxes by using these systems. But so far as we can tell, such systems need central bookkeeping, which is one reason why we figure the United Nations has been a supporter of them. Gold and silver are far harder to track for personal usage than barter/currency systems that use a centralized bookkeeping system. Are Greeks turning to gold and silver as well, as those in Zimbabwe have done once the economy collapsed? We would bet gold and silver are finding their place alongside such barter/currency systems." Continue reading →

Continue ReadingBarter and Alternative Currencies Growing in Greece