Bandit Gang Writ Large

German advisors push for ‘wealth tax’ on holiday homes to bail out Greece

"As well as inflaming tensions between Germany and its smaller southern partners, the suggestion could also mean that Britons with holiday homes are dragged deeper into the eurozone crisis. Senior figures in Germany are now arguing that some richer home owners in countries like Spain, Portugal and Greece have so far avoided paying their fair share to rescue the euro, leaving Germany paying too much. Until now, the cost of rescue packages for countries like Ireland, Greece and Portugal has fallen largely on people who invest money in either those countries' bonds or – in the case of Cyprus – bank accounts." Continue reading →

Continue ReadingGerman advisors push for ‘wealth tax’ on holiday homes to bail out Greece

Discovery Of A 17th Century Spanish Shipwreck Yields Awesome Treasure

"A great superpower, weakened by economic calamity at home and staggering under the debt from years of war in the Middle East, finally collapses. A new political best-seller, or an apocalyptic Hollywood blockbuster? Neither — it's the story told by a 1622 shipwreck whose treasures were desperately needed to shore up the finances of the struggling Spanish Empire. The galleon Buen Jesus y Nuestra Senora del Rosario was one of 28 ships in the Tierra Firme fleet; all were sailing from the New World back to Spain, laden with colonial treasures, when they were struck by a powerful hurricane off the Florida Keys." Continue reading →

Continue ReadingDiscovery Of A 17th Century Spanish Shipwreck Yields Awesome Treasure

A Ton Of Gold Bricks: What Capital Flight Looks Like In Italy

"Curious why so little has been said about cash flowing out of Italy's banks, especially when even UniCredit's CEO today proudly warned everyone he is all for confiscating uninsured deposits as long as 'everyone else is doing it' - and no, he is not kidding, so when it does happen, nobody will be able to say they weren't warned. Maybe it is because Italian cash is actually not leaving the country at all. Instead, real 'wealth' is departing the boot-shaped nation, quietly and under the radar, as fast as it can in another form: gold. Continue reading →

Continue ReadingA Ton Of Gold Bricks: What Capital Flight Looks Like In Italy

Indian gold smugglers take body route to outwit customs

"Smugglers and couriers who bring gold into the country illegally, have usually been known to bring the commodity by hiding it outside their body through various means. But with air intelligence units of the customs wising up to myriad modes of concealment, smugglers have resorted to reshaping gold to get it through. In Monday’s incident two men who arrived from Sri Lanka at the airport had shaped crude gold bits to fit inside the base of their mouth under the tongue. In another incident, a buxom lady was arrested after sleuths found that her bosom appeared extra-large as she had sewn 4 kg of shaped gold into her brassiere." Continue reading →

Continue ReadingIndian gold smugglers take body route to outwit customs

Crooked Judges Want Your Kids for Cash

"In what has been coined in the media as the 'Kids for Cash Scandal,' Ciarvarella and Judge Conahan have since been exposed as having made deals with the developer of the for-profit juvenile detention facilities co-owned by Robert Powell of PA Child Care and another company, Western Pennsylvania Child Care. While both judges were sentenced in 2011 and are now serving time, it makes one wonder just how many similar judicial branches are insidiously entangled with for-profit juvenile detention facilities and just how many people working for the system saw red flags and remained silent. Just how deep does the rabbit hole go?" Continue reading →

Continue ReadingCrooked Judges Want Your Kids for Cash

Reality Check: Senate Moving Forward On Internet Tax Mandate

"It has been a very busy week for news stations. Between the Boston bombing and the Ricin laced letters sent to members of Congress and the White House, it might be easy to miss a bill moving forward in the U.S. Senate. One that would mean every product you buy online will more expensive. Senators say this bill is about ‘fairness’, but is it?" Continue reading →

Continue ReadingReality Check: Senate Moving Forward On Internet Tax Mandate

Obama Has a New 401(k) – Yours

"The total value of U.S. private pensions stands around $18 trillion, more than 25% of that in IRAs — no coincidence that figure is not far from the fast-growing U.S national debt, currently at $16.8 trillion. As our nation’s debt is projected to skyrocket to a mind-boggling $35 trillion by 2025, you can bet Washington politicians are eyeballing this mountain of pension cash. One way to protect your IRA or other retirement plans is to move your plan out of the jurisdiction of the United States and locate your assets and their management offshore, or start a new plan offshore." Continue reading →

Continue ReadingObama Has a New 401(k) – Yours

G-20 Pushes for Global Measures to End Tax Evasion

"The Group of 20 countries called on Friday for a coordinated effort to stop international tax evasion, urging governments to systematically share bank data. Finance ministers and central bankers of the G-20, meeting in Washington, said in a communiqué that automatic exchange of tax-relevant bank information should be adopted as the global standard. The automatic exchange of tax data, an approach the United States has pushed, would represent a major change from the current procedures, in which countries are expected to provide such information only on request." Continue reading →

Continue ReadingG-20 Pushes for Global Measures to End Tax Evasion

Community Charge (UK) – 1990 Opposition

"As the amount of the Community Charge began to rise and the inefficiency of local councils in collection of the tax became apparent, large numbers of people refused to pay. Local councils tried to respond with enforcement measures, but these were largely ineffective against such huge numbers of non-payers - up to 30% of former ratepayers in some areas refused to pay. In November 1990, South Yorkshire police said they were planning to refuse to arrest Community Charge defaulters even when instructed to by the courts because it would be 'physically impossible for the police because of the large number of defaulters.'" Continue reading →

Continue ReadingCommunity Charge (UK) – 1990 Opposition

Some Good Cartoons if You’re Suffering from Post-Tax Return Traumatic Stress Disorder

"For the past 30 or so years, I’ve done my own taxes by hand. I thought this was a good approach because it would help me better understand the practical challenges of the tax code. But it’s time to confess that I broke down and used Turbotax for yesterday’s tax return. To help me deal with yesterday’s traumatic experience, I’m sharing some very good cartoons." Continue reading →

Continue ReadingSome Good Cartoons if You’re Suffering from Post-Tax Return Traumatic Stress Disorder