Bandit Gang Writ Large

Bitcoin’s Washington problem

"On paper, the popular virtual currency Bitcoin is the type of entity that traditionally would hire a powerful K Street lobbying firm to protect its interests in Washington, especially in the cutthroat world of financial regulations. But Bitcoin doesn’t exist on paper. With no public founder or organization behind it, Bitcoin isn’t in a strong position to defend itself from government scrutiny or lobby Congress on critical issues including privacy. As a fully decentralized network, the closest thing Bitcoin has to formal representatives are exchanges that facilitate the buying and selling of Bitcoins against other currency, and trade associations that represent them." Continue reading →

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Paul Craig Roberts: Gangster State US/UK

"If the Obama and Cameron governments were in the dock at Nuremberg, the entirety of both governments would be convicted. Are there sufficient brainwashed people in both countries to sustain the US/UK myth that 'freedom and democracy' are attained via war crimes? There is no shortage of brainwashed Americans who love to be told that they are 'indispensable' and ' exceptional,' and therefore entitled to work their will on the world. It is difficult to discern in these clueless Americans much hope for the revival of liberty. But there is some indication that the British, who did not inherit liberty but had to fight for it for five centuries, might be more determined." Continue reading →

Continue ReadingPaul Craig Roberts: Gangster State US/UK

His Canadian citizenship is not in doubt. Is Senator Ted Cruz a US citizen?

"Senator Cruz’s position is: 'Because I was a U.S. citizen at birth, because I left Calgary when I was 4 and have lived my entire life since then in the U.S., and because I have never taken affirmative steps to claim Canadian citizenship, I assumed that was the end of the matter.' This contradicts the position of the U.S. government. Let me clarify by asking a question. Q. What if Mr. Cruz had been born in the United States and left at the age of four for Canada and never 'claimed' his U.S. citizenship? A. The U.S. would take the position that he was a U.S. citizen whether he 'claimed his citizenship' or not. It would then assert direct rights of ownership and abuse over him." Continue reading →

Continue ReadingHis Canadian citizenship is not in doubt. Is Senator Ted Cruz a US citizen?

Like Ted Cruz, Canadians had nothing against the United States, until now

"If Canadians and others around the world want to renounce U.S. citizenship to protect their private financial information from U.S. snooping, IRS expects five years of income tax returns, destructive penalties and a possible exit tax. Senator Cruz, Canada respects your decision to renounce your Canadian citizenship. When it is granted, I assure you Canada will not stalk you for information about your private finances and will not demand taxes or penalties from you. Senator Cruz, will you and your Congressional colleagues do the same to protect Canadians and others around the world from outrageous demands of the IRS and U.S. Treasury?" Continue reading →

Continue ReadingLike Ted Cruz, Canadians had nothing against the United States, until now

The Only Legal Way to Escape US Taxes Besides Death and Renunciation

"The US government can effectively enforce its citizenship-based taxation policies thanks to its massive economic, political, and military weight and the fact that it does not recognize any limit to its jurisdiction. American expats are therefore in the uniquely unfavorable position of having arguably the worst tax policies and a government that can effectively enforce them. It is no wonder, then, why a record number of Americans gave up their citizenship last quarter to escape these onerous requirements. There is, however, another way besides death and renunciation to legally escape US income taxes, thanks to the Caribbean island of Puerto Rico." Continue reading →

Continue ReadingThe Only Legal Way to Escape US Taxes Besides Death and Renunciation

Schedule 7 and the detention of David Miranda

"One of the most troubling aspects of Section 7 is that the UK government is using it to seize computers and mobile phones of travellers without cause, and retain the data indefinitely. The UK justifies its actions as a natural extension of its powers to examine a traveller's paper documents. But mobile electronic devices carry so much more intimate information about us than we would have previously hauled around in our luggage. Everything from a list of contacts, to photos of loved ones, to financial and medical documents, to trade secrets might be contained on a traveller's computer." Continue reading →

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FATCA and the End of Bank Secrecy

"It seems that there is little understanding that it was banking secrecy that helped to resist twentieth-century dictatorships and that high tax rates — not money havens — are responsible for tax evasion, as Prince Hans-Adam of Lichtenstein has pinpointed. Clearly the amount of information collected for the purpose of future tax investigation is enormous, leaving little place for human privacy and dignity." Continue reading →

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Jeffrey Tucker: An Empire in Panic

"Snowden had only behaved as a patriot should, but he then found himself on the run from the law, trying to find safe haven somewhere in the world where the U.S. did not have control. The safe haven he found was the old Cold War enemy of Russia — a deeply embarrassing reality for those of us who cheered the U.S. victory in the Cold War. But that was just the beginning. The national security state is out there right now trying to settle all family business, Godfather style, taking down anyone and everyone who might have assisted him in his deeds. It’s all part of the great drama called 'the empire strikes back.'" Continue reading →

Continue ReadingJeffrey Tucker: An Empire in Panic

Cayman FATCA Agreement Makes It Tougher for Wealthy Americans to Hide Money

"The Cayman Islands, known as a haven for wealthy Americans seeking to stash cash overseas without scrutiny from the U.S. government, is about to become less secret. An agreement between the countries will put in place the Foreign Account Tax Compliance Act, or Fatca. The 2010 law makes it tougher to hide money overseas because foreign banks must report their accounts to the U.S. Internal Revenue Service or face, in some cases, a 30 percent withholding tax. The accord is significant because the Cayman Islands is a major financial center and home to operations for dozens of banks, funds and wealth-management entities." Continue reading →

Continue ReadingCayman FATCA Agreement Makes It Tougher for Wealthy Americans to Hide Money