Bandit Gang Writ Large

Voluntary Tax Disclosure Programs Correlated With U.S. Citizenship Renunciations

"'It’s quite clear from the data that the number of people renouncing their citizenship shoots up at the same time that the IRS began the Offshore Voluntary Disclosure Programs. Then, the number of people renouncing citizenship decreases at the same time that the Streamlined program is announced – which gives US citizens living abroad a less cumbersome way to catch up on back taxes, but then it shoots up again when the FATCA rules start to kick in and people find that the bank they have worked with for 20 years is closing their account because they are a US citizen' said David McKeegan of Greenback Expat Tax Services, a tax preparation company." Continue reading →

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Deloitte Rep. Warns China, Hong Kong To Sign FATCA Agreement

"'If the BVI and Caymans comply with the FATCA [Foreign Account Tax Compliance Act], this speaks volumes about the importance of this legislation to the world at large, let alone China and Hong Kong,' said Patrick Yip, deputy national mergers and acquisitions leader at Deloitte Touche Tohmatsu. 'China and Hong Kong financial firms that think by putting assets and income into BVI and Cayman companies they can avoid the reach of FATCA, they need to think again.' Although a US law, FATCA applies worldwide to every financial institution that receives payments from US sources. The mainland and Hong Kong should sign the agreements with the US to soothe their worries, he urged." Continue reading →

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Swiss Offshore-Adviser’s Guilty Plea Marks a Shift in Tax Crackdown

"On Aug. 16, Edgar Paltzer, 57 years old, a Swiss lawyer formerly with the Zurich firm of Niederer, Kraft & Frey, pleaded guilty in federal court in New York to a single count of conspiracy. Experts say Mr. Paltzer is the most prominent Swiss adviser to confess and the first to do so publicly. More than 30 advisers have been indicted in connection with allegedly enabling U.S. taxpayers to hide money abroad. The case puts further pressure on U.S. taxpayers holding secret offshore accounts, because advisers might opt to protect themselves by turning in their clients. The case also expands government scrutiny to assets stored in bank vaults." Continue reading →

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The Worst Law Most Americans Have Never Heard Of

"While there is still an opportunity for you to avoid getting boxed in by a desperate and out-of-control government, nobody knows exactly how much time is left. And once official capital controls are implemented (#3), your wealth is trapped and things tend to unravel pretty quickly. Developing your internationalization game plan does not mean you have to leave your home country. It is possible to achieve a certain level of international diversification without needing to leave your living room, for example, by opening a foreign bank or brokerage account remotely. The idea is to create your own personal insurance policy to immunize yourself from the common destructive measures of a desperate government." Continue reading →

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Pay me in gold: Romania’s new term as it gets more of Rosia Montana

"One completely new aspect of the agreement between Gabriel and the Romanian government is over payment of the royalty. Romania can opt to be paid in gold bullion, which could be a fair amount of gold in the end, with total delivery measured in tonnes not ounces. The six percent royalty is on gross revenue. Romania can take the equivalent value in gold. As a Gabriel spokesperson put it, 'essentially they can request six percent of the value of our production.' It could - emphasis on could - mean Romania hauls in some 15 tonnes of gold, life of mine. That, in turn, amounts to about 15 percent of Romania's official gold reserves, which are just over 100 tonnes." Continue reading →

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Why Conservatives Accept High Taxes, the Federal Reserve System, and Fiat Money

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"The alliance between the modern welfare state and the modern warfare state is based on the legitimacy of an ever-growing federal government: an ever-growing federal deficit, ever-increasing tax rates, and the permanence of the Federal Reserve. The liberals do not want to change the prevailing political system, and neither do the conservatives. The liberals want their welfare checks to go out, and so to the conservatives. The liberals want to push foreign nations around, and so to the conservatives. This is why taxes will not go down, the Federal Reserve will not be abolished, and the gold coin standard will not be re-established until such time as the Great Default bankrupts the federal government." Continue reading →

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Jim Rogers: Financial Calamity – It’s Coming, Be Worried, Be Careful

Jim Rogers: Financial Calamity – It’s Coming, Be Worried, Be Careful

"Multi-millionaire investor Jim Rogers predicts, 'They're going to take money wherever they can. . . . They're going to take our bank accounts and retirement accounts.' Rogers concludes by saying, 'We've had perilous times, and it's going to get worse. . . It's coming, be worried, be careful.' Join Greg Hunter as he goes One-on-One with Jim Rogers, author of 'Street Smarts, Adventures on the Road and in the Markets.'" Continue reading →

Continue ReadingJim Rogers: Financial Calamity – It’s Coming, Be Worried, Be Careful

Small minds, big ideas: The implications of the IRS targeting anti-tax groups

"Any time you give a state agency a goal with an extremely broad, malleable definition, the agency is going to tend to interpret its mission as broadly as possible. And when that goal is inherently incompatible with a free society, the agency’s powers will inevitably grow at the expense of individual liberties and the rule of law. We shouldn’t trust the IRS to take as much money as it wants; we shouldn’t trust the military to invade the countries it thinks need to be invaded; and we shouldn’t trust the state security apparatus to 'keep us safe from terrorism.' The best thing that can happen to an agency trusted with such a goal is that it will fail. The worst is that it will succeed." Continue reading →

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Has The CIA’s Phoenix Program Been Resurrected In Syria?

"Phoenix went far beyond aspirations of 'winning' in Vietnam. The program utilized a 'by any means necessary' strategy to warfare that included the use of random assassination and the FABRICATION of enemy atrocities in order to rally the civilian population around U.S. forces. PRU operators routinely targeted the backwater villages of Vietnam, killing at least 20,000 civilians as later admitted by CIA Director William Colby. The slaughter of villages was frequently blamed on the Vietcong, while PRU's ran rampant in the jungles, physically mutilating victims in order to draw greater emotional reactions from Southern citizens as well as oblivious Americans back home." Continue reading →

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Indiana: Court Overturns Stop For Hole In Tail Light

"A small hole in a tail light does not justify a traffic stop, the Indiana Court of Appeals ruled last week. A three-judge panel said the evidence against Brad Kroft should have been suppressed because police should not have stopped his Jeep Commander on April 22, 2012. At around 1:30am, Kroft had been driving with his wife Heidi on 96th Street near Hague Road in Indianapolis. There was a crack in his passenger-side tail light that created a dime-size hole in the otherwise fully functional stop light. A passing police officer saw it and decided he could issue a ticket." Continue reading →

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