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Foreign Banks And Brokers Are Refusing Overseas Accounts for American Customers

“Registration with the SEC and compliance with SEC regulations is a greater burden than foreign banks or brokerages want to bear. As a result, even long-time, law-abiding Americans have seen their foreign accounts closed. Americans now seeking to set up overseas accounts with foreign-based institutions are almost always turned away. It has been a standard development throughout history that any country’s government that made it difficult for its citizens to move assets beyond the borders of the nation descended into totalitarianism. If it didn’t eventually allow free capital flows, then that government ultimately failed.” Continue reading →

Wegelin chief takes blame for oldest Swiss bank’s collapse over U.S. taxes

“The last president of a 270-year-old Swiss bank that collapsed after helping rich Americans dodge taxes blames himself for the firm’s demise but hints the Holocaust contributed to Switzerland’s banking secrecy. Konrad Hummler, in an interview published on Thursday, took full responsibility for the closure of Wegelin & Co., founded in 1741, after it paid US penalties of $57.8 million for helping clients avoid some $20 million in taxes. While stressing the bank had always respected Swiss law, he admitted exploiting ‘differences between the (legal systems) in Switzerland and the United States.'” Continue reading →

Americans Are on a Tight Leash

“Dealing with the burdens associated with citizenship-based taxation is an unfortunate fact of life for Americans. It is not likely to change in the foreseeable future. In fact, I would bet that the burdens will actually increase as the US government becomes more financially desperate. Which is a significant incentive to act sooner than later… or before it is too late altogether. However unpleasant this reality is, it does not negate the need to internationalize. Quite the contrary. As spending on welfare/warfare related programs continues to rise, it is clear that the US government will sink deeper into fiscal and moral bankruptcy, with political risk increasing in tandem.”

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Detroit Jail Fail

“A couple of months ago, I wrote about Detroit’s jail blunder and the potential work stoppage on the construction of the massive facility – on prime downtown property – that was over budget on all counts. Work on this addition to incarceration nation has finally stopped, and five developers have submitted bids to develop the area for … gasp, private development and city life enrichment for the people who live here. Dan Gilbert wants to develop not only the jail fail property, but also nearby detention center properties for the purpose of building a ‘mixed-use retail, entertainment, residential and office development that would serve as a gateway to downtown from the east.'” Continue reading →

Raw sewage makes summer swimming hazardous in New York

“The researchers tested ten locations on the river and found bacteria resistant to the most common antibiotic ampicillin 84 percent of the time. Campaigners say sewage is regularly dumped in the Hudson because treatment plans cannot cope with the volumes of waste water they have to deal with at times of heavy rain. City authorities are trying to address the problem by introducing porous pavements and by planting vegetation on rooftops to reduce run-off. The spread of bacteria resistant to antibiotics, has been blamed on the drugs being over prescribed for minor infections and their widespread use in livestock production.” Continue reading →

FAA tells Colorado residents not to shoot at drones or risk fines, jail time

“The Federal Aviation Administration responded negatively on Friday to a proposal by the Colorado town of Deer Tail to license hunters to shoot down drones. In a statement, it warned that anyone shooting at either a manner or unmanned aircraft ‘could result in criminal or civil liability,’ according to the Associated Press. In the proposal, the town would issue licenses — for a fee — to shoot at drones with shotguns and anyone who turns in a shot-down drone belonging to the United States government would be eligible for a $100 bounty (parts could net successful hunters $25). The drones cost around $18 million a piece.” Continue reading →

New York firefighter makes fake 911 calls to rob empty firehouses

“A New York firefighter is accused of making fake 911 calls to dispatch firefighters so he can raid the unmanned firehouses in Queens and Staten Island for money left behind, according to WNBC. Joseph Keene allegedly made three false 911 calls about made-up fires and is accused of nabbing more than $1,900 in cash during May and June. Keene made two false calls in which he reported smelling gas and a third which reported a sparking transformer. Keene is also charged with stealing $50 from a colleague’s locker at the Randall’s Island facility where he worked and stealing $100 from a Queens facility he sneaked into.” Continue reading →

Cop cuffs woman having diabetic attack because he thought she was drunk

“Revina Garcia reportedly got into an accident in which she slammed into a truck while having a diabetic episode and said she couldn’t open the door of the car. ‘I just didn’t know how to open the door,’ she told KOAT. A sheriff’s deputy removed the woman from the car, slammed her face down down on the pavement and left her there. Police finally picked her up and took her to the back of a police car, where they determined her blood sugar level was low and called paramedics to treat her. KOAT reported that Santa Fe County Sheriff Robert Garcia commented on the incident, ‘In this case there was no resistance. We are looking at that very seriously.'” Continue reading →