Yearly Archives: 2013

The FBAR Fundraiser and the Penalty Jackpot

"This reminds me of the treatment of Ms. Curran – an elderly widow – in Florida. You may remember her as the woman who paid – and may well have been coerced into a 21 million dollar FBAR penalty based on accounts she inherited from her late husband - I repeat accounts owned by her late husband. One blogger referred to this as a 'Penalty Jackpot for the IRS'. Yup, definitely a good return for a small amount of work. The facts in the Curran case are here. But, for those of you who think IRS Penalty Abuse is restricted to rich Homelanders you should take the time to read this submission to the Ways and Means Committee from this disabled 68 year old British born woman." Continue reading →

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Judge ejects Sikh from court for refusing to remove ‘that rag’ from his head

"The officers who pulled Singh over believed that his kirpan — a ceremonial 'sword' worn by Sikhs that poses as grave a danger to the public as the crosses donned by many Christians — was a 'dangerous weapon,' despite the fact that it had been sewn into the waistband of his pants. Singh tried to educate the lead officer by 'show[ing] him, and other officers present, videos stored on his phone and on Youtube about the Sikh faith.' The officers responded with mockery, one of them allegedly referring to Sikhs as 'depraved' and 'terrorists.' As if that was not humiliating enough, when Singh returned to Pike County to contest his arrest, presiding Judge Aubrey Rimes ejected him from the courtroom." Continue reading →

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End Civil Asset Forfeiture

"A recent New Yorker article has awakened many Americans to the scourge of civil asset forfeiture in which police can seize property without charging anyone with a crime and pocket the proceeds. Many police organizations call the proceeds of civil asset forfeiture a vital source of funding. Scott Bullock, senior attorney at the Institute for Justice, describes the practice and the best avenues for reform." Continue reading →

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Felony Friday: Man Charged For Killing Deer That Ate His Weed Plants

"Felony charges were filed against one poor soul, which highlights the State’s refusal to recognize property rights and the idiocy of the drug war. A Glasco, N.Y. man had his world come crashing down after a neighbor snitched on him for killing the deer that were eating his marijuana plants. Barry J. Brice learned a hard lesson from his run-in with the law. Not only does the State own the deer that destroy your garden, they also dictate what plants are allowed to be grown. Statists would claim that Mr. Brice got what he deserved for growing an illegal plant and killing deer without a license. They would rejoice at the prospect of Mr. Brice being locked in a cage for committing 'crimes' without victims." Continue reading →

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IRS Seizes Small Store’s Bank Account. It’s Asset Forfeiture. It’s Legal.

"This man runs a small store. His insurance company insures against theft for only $10,000 per robbery. So, his daughter waited until there was $9,000. Then she deposited the money in the bank. An IRS agent seized the money. She charged 'structuring.' The IRS requires you to report cash deposits in excess of $10,000. It also prohibits 'structuring' — deposits just under $10,000. 'How will I pay my workers?' he said. 'I don’t care,' she replied. She handed him her card. The Internet may give the story enough coverage to convince the IRS agent’s superior that the bad publicity isn’t worth $35,000. Otherwise, this man is out of business." Continue reading →

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Stefan Molyneux: The Truth About Bitcoin

"Stefan Molyneux looks at the rise of Bitcoin and discusses it's history, mining, fees, altcoins, regulatory hypocrisy, worldwide awareness, comparisons to gold, anonymous transactions, possible government attacks and what the future holds for the decentralized cryptocurrency." Continue reading →

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Germany’s government and media are bolstering bitcoin popularity

"Last month, BaFin (the German ministry of finance) announced it does not consider bitcoin to be e-money or a functional currency. Instead, it referred to it as 'private money' and a 'financial instrument'. Just last week, Bitcoin.de received confirmation from BaFin that it has no objections to the exchange’s partnership with Fidor Bank. The partnership means customers will soon be able to trade on bitcoin.de in near real-time using a free FidorPay giro account. Elsewhere in the world, bitcoin companies have been facing problems when it comes to finding banking partners. For example, US company Tradehill recently had to cease bitcoin trading due to 'operational and regulatory issues'." Continue reading →

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Why You Should Care About Bitcoin

"Bitcoin has massive implications for markets that the current financial services industry has ignored or struggled to penetrate. Online commerce all but requires preexisting access to a credit card or bank account, yet according to the GSMA 1.7 billion people have a mobile phone and no alternative to the cash economy. As digital cash, Bitcoin appeals directly to consumers as an accessible payment alternative without the risk and fees associated with existing credit and debit networks. Rapid growth of startup payment networks like M-PESA in Kenya (founded in 2007 and now processing 30%(!) of the country’s GDP) are a great early indicator for both market demand and adoption." Continue reading →

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Feds Steal $35K From Small Grocer’s Bank Account Despite ‘No Violations’

"Schott's Market, in Fraser, Michigan, was robbed in January of this year. Unfortunately for Terry Dehko and his daughter, Sandy, who own the place, the thieves are government agents in the emply of the Internal Revenue Service. The IRS doesn't even allege that the Dehkos committed a crime to justify cleaning out their bank account using civil asset forfeiture—they even sent the Dehknos a letter clarifying that 'no violations [of banking laws] were identified.' So, why the mugging? The feds just don't like the way the grocers have been depositing money in their bank account. Really." Continue reading →

Continue ReadingFeds Steal $35K From Small Grocer’s Bank Account Despite ‘No Violations’

Dozens of NSA employees used surveillance system to spy on lovers

"In one case, a foreign national who worked for the U.S. government told a colleague she suspected that her boyfriend, who worked for the NSA, was eavesdropping on her phone calls. Investigators found the employee had been collected his girlfriend’s phone conversations with nine different women without valid purpose between 1998 and 2003, and he was suspended without pay and then resigned before he could be disciplined. In another case, a woman told the NSA that she’d recorded a conversation between her husband and a foreign telephone number because she suspected he’d been unfaithful. She also resigned before she could be punished, the inspector general said." Continue reading →

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