Bandit Gang Writ Large

Swiss parliament throws out ‘Lex USA’ tax proposal

"Rejecting US threats, the National Council tossed 'Lex USA'. The big question now is if the US will follow through with its threats of destroying 18 banks, and how many innocent people will be harmed in the process. My best guess is that the US needs to use Switzerland as a scapegoat to scare the world into joining FATCA, since FATCA would otherwise fail. The general view in Switzerland seems to be that if some banks did wrong, then they should be held responsible for their actions without the government being involved, while those in favor of Lex USA generally feared the American blackmail." Continue reading →

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Bitcoin In IRS Crosshairs, Says Government Report

"There is confusion whether transactions in Bitcoin should be treated as property, barter, foreign currency, or a financial instrument. How you see it can determine the tax treatment. Barter transactions may be the most logical treatment, but not everyone agrees. Besides, even without Bitcoins or other exotica, bartering transactions are inherently under-reported. And then there is tax basis. If you sell something for less than you paid, you shouldn’t have gain. That’s true in U.S. dollars or in Bitcoin. If you sell something at a garage sale, you may or may not have income. Brave new world? GAO and IRS don’t think so." Continue reading →

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Attempted Land Grab Ends With Voters Booting Entire City Council

"Government officials like to use eminent domain for the convenience of their preferred policies and/or the enrichment of themselves and their buddies. Usually, they get away with it, because the folks on the receiving end are too few and powerless to hold their tormentors to account. In Hackensack, New Jersey, however, the officials who targeted Michael Monaghan's property for seizure as part of an 'area in need of redevelopment,' even while denying him the right to develop it himself, pushed too many people around, too often. Last month, voters booted out the entire city council." Continue reading →

Continue ReadingAttempted Land Grab Ends With Voters Booting Entire City Council

G8 to clamp down on tax avoidance

"On Thursday, a U.K. parliamentary committee said that Google Inc. has aggressively avoided paying corporate taxes in Britain, and criticized the U.K. tax authority for failing to challenge the Internet giant about its tax arrangement. Late last month, U.S. lawmakers blasted Apple for failing to pay U.S. taxes on billions of dollars in overseas income. Google said that it complies with all U.K. tax rules, and Apple’s CEO Tim Cook told senators that his company pays all the taxes it owes. The problem for companies like Apple is the U.S.’s tax system. Cook made it plain that the 35% corporate rate is too high to bring some profits back from overseas." Continue reading →

Continue ReadingG8 to clamp down on tax avoidance

Louisiana: Cops Used Red Light Cameras For Personal Profit

"Police officers in New Orleans, Louisiana filled their own pockets with red light camera cash by setting up a private company to 'review' photo citations off the official clock. The city's inspector general, E. R. Quatrevaux, on Friday released a report documenting how Edwin Hosli, the New Orleans Police Department's (NOPD) 8th District commander, formed his own limited liability company called Anytime Solutions to take advantage of the lucrative business opportunity. Hosli pulled down $7420 from the arrangement for himself. Hosli and several other officers overbilled ACS by $9075. Hosli's share of that was $2055, according to the documents." Continue reading →

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Don’t Dismiss the Possibility of Gold Confiscation

"If you hold precious metals in your portfolio, there is a good chance you fear hyperinflation and the crash of fiat currencies. You probably distrust governments in general and believe they are self-serving and have no interest in your economic well-being. It is likely that your holdings in gold are your lifeline – your hope to get you through these times while holding on to your wealth. But have you ever given any thought to the possibility of having this lifeline confiscated by the authorities? It's an interesting thought that the greatest threat to gold and silver investment might not be the possibility of losing on the speculation, but the government taking it away from you." Continue reading →

Continue ReadingDon’t Dismiss the Possibility of Gold Confiscation

James Bamford: The Secret War

"Tens of thousands of people move through more than 50 buildings—the city has its own post office, fire department, and police force. But as if designed by Kafka, it sits among a forest of trees, surrounded by electrified fences and heavily armed guards, protected by antitank barriers, monitored by sensitive motion detectors, and watched by rotating cameras. To block any telltale electromagnetic signals from escaping, the inner walls of the buildings are wrapped in protective copper shielding and the one-way windows are embedded with a fine copper mesh. This is the undisputed domain of General Keith Alexander, a man few even in Washington would likely recognize." Continue reading →

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IRS Refunds 4 Billion Dollars a Year to Illegal Immigrants While Pursuing US Citizens Abroad

"FATCA is … probably … coming in some form or other and hiding will do a person no good in the longer run (although truthfully, no one is truly invisible anymore thanks to technology), but allowing fear of an agency that isn’t even able to control fraud and evasion within its own borders be the driving factor behind decisions is something that might be cause for pause. It’s not new news in terms of the hysteria in the US about undocumented workers and fraud, but it puts the dilemma, at least for me, of USP’s who’ve emigrated in another context. The point of FATCA and the offshore jihad on expats is not about money. It’s about information, and information is power." Continue reading →

Continue ReadingIRS Refunds 4 Billion Dollars a Year to Illegal Immigrants While Pursuing US Citizens Abroad

Calling All Patriots…

"It’s possible for the NSA, the FBI, and, eventually, the IRS to access innocent George’s chat room discussions, emails, phone calls, texts… and gather them all in government computers in a massive game of police state gotcha! And does anyone really believe that these 'security' programs will be used carefully by a government in which the IRS targets and persecutes politically conservative groups, where the Department of Justice targets journalists for surveillance, where FATCA destroys offshore investment rights or where the highest officials lie about what really happened at Benghazi?" Continue reading →

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Bob Higgs: What the State Fears Most—Revelations of the Truth about the State

"The rulers can continue to plunder and bully the great mass of people only as long as the people believe the Biggest of All Big Lies, which is that the government seeks to be, and is, their essential protector and general benefactor. The Ellsbergs, Mannings, Assanges, and Snowdens, rare as they are, demonstrate that the government’s pose as protector and benefactor is nothing but a ruse to hide its essential nature and functioning. The only protection the rulers aim to provide us is the kind that a shepherd provides his sheep—protection from anything that interferes with his exclusive ability to determine how and when the sheep will be sheared and slaughtered." Continue reading →

Continue ReadingBob Higgs: What the State Fears Most—Revelations of the Truth about the State