Yearly Archives: 2013

Gold exports in June slump 70% in India

"According to Vipul Shah, chairman of the Gems and Jewellery Export Promotion Council, 'Exports declined drastically in June as there was a shortage of raw material for jewellery manufacturing. Our main demand is that we should be provided gold on easy terms.' He added that if the current situation prevailed, it would be disastrous for the entire industry and bring in large scale unemployment. According to M Ahamed of the Kerala Jewellery Federation, exporters had initially gained from the rupee depreciation in the country, as the value of their exports in rupee terms had gone up. However, that gain has now petered off, he added." Continue reading →

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If Edward Snowden Had Read This Book …

"In most countries, extradition is not automatic. A hearing is usually required, with the person subject to extradition given the opportunity to argue his or her case. Some countries, such as Brazil, almost never allow extradition. Many refuse to return a person they deem to be wanted for 'political' offenses. Usually, an extradition request seeks persons facing criminal prosecution or an already convicted escapee, but there are other grounds for such official demands. Generally, tax offenses have not been extraditable. However, fraud per se is an extraditable offense, so a government that wants to pursue a tax case claims 'tax fraud.'" Continue reading →

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Tax havens explained: How the rich hide money

"Recent leaks of secret banking information have helped authorities around the world crack down on tax cheats who go offshore, resulting in billions of dollars recovered for the public purse. Now, in one of the biggest ever leaks of financial data, the International Consortium of Investigative Journalists has released data on a whopping 120,000 secret offshore entities in 10 different jurisdictions. Read more about how unscrupulous investors hire high-priced lawyers and financial advisers to move money offshore in the interactive below. Select the blue button to make choices and move through each step." Continue reading →

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‘How Money Walks’: Map shows cash fleeing states with high taxes

"The map’s author, Travis H. Brown, tracked the millions of people in the U.S. who moved from state to state, taking with them more than $2 trillion in adjusted gross income. Brown says Americans are fleeing high-tax states and moving to states that offer lower taxes. The big losers? New York, California, Illinois, New Jersey and Ohio. The big gainers? Florida won the most, with $86 billion coming its way. Other gainers were Arizona, Texas, North Carolina and Nevada." Continue reading →

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And the Natural Result of “Planned Obsolescence” is… (Drumroll)… Bankruptcy!

"The strike lasted 44 days, until GM gave in. It marked the rise of the UAW and the slippery slope of capitulation that would kill the automaker’s competitiveness. GM started to decentralize its production process so it could never be hijacked again. Detroit’s population became decentralized along with it. As people left, the tax base shrunk. To keep revenue up, taxes were raised on things that couldn’t be moved out of the city limits, like property. Because of high property taxes, people stopped improving buildings. Eventually, it wasn’t worth it to pay the property taxes. So people just left for greener pastures in taxpayer-friendly jurisdictions." Continue reading →

Continue ReadingAnd the Natural Result of “Planned Obsolescence” is… (Drumroll)… Bankruptcy!

George Zimmerman Rescues Family of Four from Highway Crash

"George Zimmerman, who has been in hiding since he was acquitted of murder in the death of Trayvon Martin, emerged to help rescue a family who was trapped in an overturned vehicle, police said today. Zimmerman was one of two men who came to the aid of a family of four -- two parents and two children -- trapped inside a blue Ford Explorer SUV that had rolled over. By the time police arrived, two people - including Zimmerman - had already helped the family get out of the overturned car, the sheriff's office said. No one was reported to be injured. Zimmerman was not a witness to the crash and left after speaking with the deputy, police said." Continue reading →

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Dutch woman arrested for ‘recruiting Syrian jihadists’ to fight alongside rebels

"Dutch authorities have arrested a 19-year-old woman suspected of recruiting jihadists to fight alongside radical Muslim rebels in Syria, a prosecution spokeswoman said on Monday. There is growing concern in the Netherlands about young Dutch Muslims being enlisted to fight in Syria, with a British study in April saying at least 107 Dutch citizens were fighting President Bashar al-Assad’s forces in the war-torn country. Police arrested the woman in Zoetermeer, a small city just east of The Hague, on Wednesday after families filed complaints with the authorities that their relatives had gone to fight in Syria." Continue reading →

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Family of Egypt’s Morsi threaten legal action over ‘abduction’

"The family of Egypt’s ousted Islamist president, Mohamed Mursi, said on Monday it would take legal action against the army for abducting him. Mursi has been held at an undisclosed military facility since the army deposed him on July 3 and suspended the constitution in the wake of huge street protests against his one-year rule. The army says Mursi is being held for his own safety. Mursi’s supporters are maintaining a round-the-clock vigil in a Cairo suburb, now in its third week. They say they will stay put until Mursi is returned to office." Continue reading →

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A CEO’s-Eye View of ObamaCare

"The ACA could actually cause the number of our covered employees to decrease, particularly in the first year. The penalty for declining coverage will be low compared with the cost of coverage; and employees will know that if they happen to get sick, they can get insurance after that. So the economically rational decision for young people, like our crew employees, is to pay the penalty and forego the insurance. Despite what the government may believe, our employees are smart enough to figure this out. For insurers, it's simple math: Premiums collected must exceed claims paid. If too few young healthy people enroll, insurers will raise premiums on those who do." Continue reading →

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New ID rules would threaten citizens’ rights

"Any citizen wanting to take a job would face the regulation that his or her digitized high-resolution passport or driver's license photo be collected and stored centrally in a Department of Homeland Security Citizenship and Immigration Services database. The pictures in the national database would then need to be matched against the job applicant's government-issued 'enhanced' ID card, using a Homeland Security-mandated facial-recognition 'photo tool.' Only when those systems worked perfectly could the new hire take the job." Continue reading →

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