Yearly Archives: 2013

The Great Obamacare Intergenerational Swindle

"Will we be able to talk healthy young Americans into buying medical insurance that costs seven times what it would in a free market in order to subsidize our increasingly expensive health care? Or will we have to sic IRS enforcers on them for selfishly taking advantage of the law’s pre-existing condition protections to get care at someone else’s expense in case of serious illness? It’s a tough sell, but take heart, fellow Boomers. We’ve been preparing our children for community servitude for years. Why else did we feed them a steady diet of social consciousness, while preaching that it takes a village from the day we dumped them in daycare? Now, it’s time for them to pay up." Continue reading →

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Pimco Total Return Had $9.9 Billion Withdrawals in June

"Imagine what is going to happen when the panic over climbing interest rates really starts. Bill Gross’s Pimco Total Return Fund, a bond fund and the world’s largest mutual fund, had $9.9 billion in net redemptions last month as investors fled bonds in anticipation of higher interest rates. The withdrawals left the fund with $268 billion in assets at the end of June, Morningstar said." Continue reading →

Continue ReadingPimco Total Return Had $9.9 Billion Withdrawals in June

The Nudge That Will Force Banks to Put More Money Into Treasury Securities

"Translation: The rules will require banks to purchase more government securities, rather than make loans to the private sector. The nudge is in. In a May 1 report,Treasury Borrowing Advisory Committee said banks, over time, will need to buy as much as $5.7 trillion in 'safe' assets including government bonds by 2020 to comply with the 2010 Dodd-Frank Act in the U.S., and capital standards set by the Bank for International Settlements in Basel, Switzerland." Continue reading →

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Why Is My US Brokerage Firm Closing My Account?

"In many cases the agreement that countries have insisted on with respect to FATCA is reciprocal. In other words, a country will say that yes they are willing to exchange information on financial accounts with the USA but the key word is 'exchange' – that is, in return, US financial institutions must also agree to provide information regarding their clients who are citizens of the country entering into the FATCA agreement with the USA. Imagine the mess this will cause for the large US banks and brokerage firms when they have to start reporting to foreign governments on their accounts for residents of these other countries." Continue reading →

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Gerard Depardieu claims world citizenship

"French actor and new Russian national Gerard Depardieu says he is applying for an Algerian passport and possibly others, describing himself a 'world citizen'. The 64-year-old star, one of the world's most prolific actors, acquired Russian nationality in January after getting into a fight with the French authorities over a new 75-per cent tax on the super-rich. 'I would like to have seven' passports, he told France's Journal du Dimanche on Sunday. 'I'm going to ask for an Algerian one and others as well,' he said. 'This will help me avoid visas.'" Continue reading →

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‘Top French politicians had Swiss accounts’

"A former executive of a Geneva-based bank says he gave authorities in France a list of 15 former and current French cabinet ministers with secret Swiss bank accounts. Pierre Condamin-Gerbier, formerly with Reyl & Company, said on Wednesday he had submitted the list of 'big names' to investigators. Condamin-Gerbier was a witness before a French parliamentary commission investigating France’s former Budget Minister Jerome Cahuzac, who resigned in disgrace in March over an undeclared foreign bank account said to contain around €600,000. Cahuzac is now facing charges of tax fraud. He had earlier said the list contained a number of well-known names." Continue reading →

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Bitcoin ATM launched

"A bitcoin ATM was revealed at a London conference today, allowing users to convert bank notes into the digital currency. To use the ATM, you need to have an existing Bitcoin wallet number. First, it scans a QR code of your Bitcoin address. Then, the user has to feed bank notes into the machine, which are converted at the current exchange rate and deposited into their account. While the deposit takes moments, it can take several minutes for an account to be updated. Bitcoin can be purchased via online exchange sites, but the ATM means you don't need to use a credit or bank card, helping to keep the transactions anonymous, the company said." Continue reading →

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I can remember a time when I would have considered Snowden a traitor. bush and obama have changed all that.

Snowden Released This Statement Via Wikileaks: Reposted from: http://youviewed.com/2013/07/01/snowden-unloads-on-obama/ ” One week ago I left Hong Kong after it became clear that my freedom and safety were under threat for revealing the truth. My continued liberty has been owed to the efforts of friends new and old, family, and others who I have never met […]

Continue ReadingI can remember a time when I would have considered Snowden a traitor. bush and obama have changed all that.

Florida County Moves To Shut Down Red Light Cameras With Public Vote

"The board of commissioners in Hernando County, Florida has been trying for months to force the city of Brooksville to remove red light cameras from the county's right-of-way. So far, nothing has worked and the county commissioners agreed last week to use the ultimate political persuasion -- a vote of county residents -- to force the issue. Yellow light warning times at the camera intersections were also increased on Thursday." Continue reading →

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Could the U.S. delay Obamacare’s mandate for individuals, too?

"President Barack Obama can expect mounting pressure to make new concessions on healthcare reform, especially the requirement that all Americans obtain insurance, after delaying penalties for businesses for the first year of his plan. The individual mandate, which the U.S. Supreme Court upheld as constitutional a year ago, is the government’s only lever to compel young healthy people to sign up for federally subsidized coverage in new online health insurance marketplaces that are slated to begin enrolling new beneficiaries on October 1. If too few younger adults enroll, insurance costs could soar and jeopardize the entire reform effort." Continue reading →

Continue ReadingCould the U.S. delay Obamacare’s mandate for individuals, too?