Yearly Archives: 2013

Unwise Deepening of an Unnecessary Crisis

"It is difficult to avoid the conclusion we have made in past articles that much of what passes for solutions in the EU are actually being implemented to aggravate what is already injured. The idea perhaps is that a lingering crisis gives Brussels's Eurocrats the ability to further implement a 'deeper' political union. Are you an investor? Are you betting on the euro – or even the EU? In the era of the Internet, when people increasingly understand how the 'great game' is played, the deliberate (evolutionary) deepening of a crisis is perhaps unwise." Continue reading →

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Essex school bans triangular flapjacks after injury

"A school has banned triangular flapjacks after a pupil was injured by one. Dinner staff at Castle View school in Canvey Island, Essex, were told to cut the treat into squares or rectangles following the incident. It is understood that the triangular version was banned after one was thrown, hitting a boy in the face." Continue reading →

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NJ Police Lieutenant: Meeting Ticket Quotas A Daily Exercise In “Creative Writing”

"'Creative writing,' is how one East Orange police lieutenant described a typical day on the job. In order to tally a high number of tickets he might break up a fight just over the Newark border and report it occurred in East Orange, issue jaywalking tickets or cite a parent who has double-parked outside an elementary school to run in to pick up her child. Seven members of the East Orange Police Department said during in-person interviews that in the past two years, and most aggressively in recent months, the chief has instituted a quota system, demanding more summonses, arrests, pedestrian and motorist stops with little justification." Continue reading →

Continue ReadingNJ Police Lieutenant: Meeting Ticket Quotas A Daily Exercise In “Creative Writing”

Poll shows huge support for Rand Paul’s filibuster stance on drone attacks

"When Sen. Rand Paul (R-Ky.) filibustered for nearly 13 hours two weeks ago, he had the American people on his side. A new Gallup poll shows a huge majority of Americans — 79 percent — supported Paul’s position that drone strikes should not be used on American soil against Americans suspected of terrorism. Just 13 percent say it would be okay. Americans also don’t support drone strikes against any suspected terrorist on American soil (25 percent support, 66 percent oppose) or against U.S. citizens suspected of terrorism abroad (41 percent support, 52 percent support)." Continue reading →

Continue ReadingPoll shows huge support for Rand Paul’s filibuster stance on drone attacks

Mike Bloomberg: “I do think there are certain times we should infringe on your freedom”

"'I do think there are certain times we should infringe on your freedom,' Mr. Bloomberg said, during an appearance on NBC. He made the statement during discussion of his soda ban — just shot down by the courts — and insistence that his fight to control sugary drink portion sizes in the city would go forth." Continue reading →

Continue ReadingMike Bloomberg: “I do think there are certain times we should infringe on your freedom”

Cypriot Banking Crisis – A Turning Point for Your Portfolio?

"Most Americans would not be directly affected if North Dakota decided to seize citizens' money in order to pay its bills, but all Americans would be deeply disturbed by such an action. The principle of the matter couldn't be clearer; outright theft is wrong. But it'd probably be fear, not principle, that would have people heading for their banks in droves to withdraw cash as fast as possible. People not living in Europe should not kid themselves into thinking that this is just a European problem. With a fractional reserve banking system, it doesn't take a majority of bank depositors to decide to withdraw their cash to put their banks out of business." Continue reading →

Continue ReadingCypriot Banking Crisis – A Turning Point for Your Portfolio?

BRICS Nations Plan New Bank to Bypass World Bank, IMF

"The biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund. The leaders of the so-called BRICS nations -- Brazil, Russia,India, China and South Africa -- are set to approve the establishment of a new development bank during an annual summit that began today in the eastern South African city of Durban, officials from all five nations say. They will also discuss pooling foreign-currency reserves to ward off balance of payments or currency crises." Continue reading →

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Swiss expats unhappy with FATCA deal

"Swiss citizens who live abroad have made their displeasure with their home country known regarding its planned implementation of the Foreign Account Tax Compliance Act (FATCA). The U.S. law has been agreed to by Switzerland and is set to go into effect in 2014. Some 76,000 Swiss citizens who currently reside in the U.S. are being told they cannot hold Swiss bank accounts, or are now being charged higher fees, according to the OSA." Continue reading →

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Jittery Spaniards Seek Safety in Bitcoins

"Since Sunday, a trio of Bitcoin apps have soared upSpain’s download charts, coinciding with news that cash-strapped Cyprus was planning to raid domestic savings accounts to pay off a $13 billion bailout tab. Fearing contagion on the other end of the Mediterranean, some Spaniards are apparently looking for cover in an experimental digital currency. That Spaniards would consider converting a portion of their dwindling savings into a peer-to-peer currency vulnerable to wild price fluctuations and the odd thieving Trojan speaks volumes about banking confidence in some parts of Europe." Continue reading →

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The Top 4 Lessons of the Cyprus Debacle You Shouldn’t Have to Re-learn

"Lesson #1 - Do Not Trust Politicians. Lesson #2 - Ditch the 'This Can’t Happen Here' Mentality. Lesson #3 - Recognize the Pattern (Bank Holiday, Wealth Confiscation, Capital Controls). Lesson #4 - Take Action Before it is Too Late. You must take precautionary action and internationalize before it is too late to act. Unless you are part of the political elite, you won’t know exactly when the window of opportunity will slam shut. For Cypriots that moment came on the morning of Saturday, March 16 , 2013. It is better to be a year early than a minute late." Continue reading →

Continue ReadingThe Top 4 Lessons of the Cyprus Debacle You Shouldn’t Have to Re-learn