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A Tax by Any Other Name is Still a Tax

A Tax by Any Other Name is Still a Tax

“Excessive taxation…will carry reason and reflection to every man’s door, and particularly in the hour of election”  Jefferson letter to John Taylor — 1798   Normally as readers know as an author I am quite detailed however on occasion because of a time constraint it is more important to get the basic information of an …

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Free banking will go, says RBS chief

Free banking will go, says RBS chief

“Savers eventually will have to pay for their current accounts, according to the new chief executive of Royal Bank of Scotland. Ross McEwan, the head of Britain’s second-biggest current account provider, said that free banking would come to an end because up-front fees were more transparent. RBS had no plans to scrap free banking, but he cast the eventual adoption of a fee-based system in the context of making banks more straightforward for customers. He said in a weekend interview: ‘I think [the end of free banking] is something that will be addressed in the marketplace.'” Continue reading

Ukraine’s Largest Bank Limits Cash Withdrawals To $100 Daily

Ukraine’s Largest Bank Limits Cash Withdrawals To $100 Daily

“The military escalation in Ukraine has had dire consequences for the financial state of the country, its banks, and ultimately its people. The central bank promised to rescue domestic banks so long as they agreed to its complete control and it appears the first consequences of that ‘we are here to help you’ promise is coming true. Privatbank is Ukraine’s largest bank and while claiming this move is temporary (just like Cyprus’ capital controls), the bank has also ceased new loans amid what it calls ‘geopolitical instability’. In summary, you can’t have your money back! Expect long angry lines at Ukrainian banks on Monday morning.” Continue reading

Bill Bonner: The Coming Bull Market in Gold Stocks Is Going to Be BIG

Bill Bonner: The Coming Bull Market in Gold Stocks Is Going to Be BIG

“Most empires were financed on the loot captured from their conquered opponents. But the US Empire depends not on generals, but on bankers. Bernanke – the ‘Hero of ’08’ – kept the credit flowing at a crucial moment… He kept the empire on schedule… and on target… for its rendezvous with disaster. [..] Debt has its lifecycle. So do empires. Both expand. Then both… without exception… contract. An empire funded by debt is an especially ungainly, grotesque thing. It lurches from one disaster to another – going deeper and deeper into debt each time. But it is not the debt that kills empires. Debt is just a razor conveniently left on the side of the tub.” Continue reading

Bank of Greece Breaks Silence on Bitcoin

Bank of Greece Breaks Silence on Bitcoin

“The Bank of Greece issued a brief statement on 11th February warning citizens of the potential risks associated with virtual currencies, such as bitcoin. Citing past statements from the European Banking Authority, the release included introductory information meant to guide consumer decision-making, as well as material that further informed readers of the potential tax implications and legal consequences associated with the use of virtual currency. The announcement comes after a string of similar remarks from other European central banks, such as the Central Bank of Lithuania and the Central Bank of Cyprus, which both issued statements to raise awareness of the potential risks.” Continue reading

Truth and Consequences of Fed Money Printing

Truth and Consequences of Fed Money Printing

“Don’t be persuaded by the theory that the dollar is invulnerable … that inflation is dead … or that none of this really matters. Above all, don’t let anyone talk you out of protective investments. Indeed, the same investments that can help shield you from the consequences of the Fed’s folly also have the potential to deliver some of the greatest profit bonanzas of this era. Our editors are continually scouring the globe for the best opportunities at the best time. Today, I want to set the stage by taking you on a tour through time — to help you experience the consequences of central bank money printing … and to see the fortunes that can be lost, or made, as a result.” Continue reading

Legos Serve as Building Blocks to Free Market Ideas in The Lego Movie (Spoilers)

Legos Serve as Building Blocks to Free Market Ideas in The Lego Movie (Spoilers)

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I will admit I had apprehensions about The Lego Movie. It looked genuinely funny, but I had heard from a few conservative outlets that it was staunchly anti-capitalist. I could see how one might think it is anti-capitalist if a) they don’t understand cronyism and b) their corporation profits from selling an anti-Hollywood agenda. I […]

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Spectacular! Yosemite in time-lapse high definition

Spectacular! Yosemite in time-lapse high definition

Via recode.net Just beautiful… …and tough to film: The video was a feat of physical exertion, technical precision and patience. The duo, who repeatedly met up from opposite sides of California, carried roughly 70 pounds of gear to the nearly 9,000-foot top of Half Dome, the distinctive flat peak that soars above Yosemite Valley. Once there, […]