Bandit Gang Writ Large

24 IRS workers in TN accused of theft

"First it was the families of dead people and state employees. Now, authorities say Internal Revenue Service employees in Tennessee were stealing unemployment and other benefits while fully employed. On Thursday, 13 of those employees were indicted on federal charges that they lied to get unemployment, food stamps, welfare and housing vouchers. An additional 11 have been indicted on state charges of theft greater than $1,000. In all, authorities say the workers improperly received more than $250,000 in government benefits." Continue reading →

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Hunt for Dollars Sends Argentines Into the ‘Cave’

"As the government restricts access to foreign currencies, Argentines seeking hard-to-get dollars have been pushed into cuevas, or caves—clandestine operations where customers pay dearly to exchange pesos for greenbacks. Buying dollars for savings is banned, and authorities make only small amounts of foreign currency available for travel abroad. Travelers must submit an online request to the national tax authority just days before leaving. Businesses need government approval to import equipment and materials at the cheap official exchange rate. Dollar-sniffing dogs are posted at border crossings to catch those traveling with undeclared currency." Continue reading →

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The Government Steals Raisins

"Why does the federal government steal one-third to one-half of the raisin crop every year? Why aren’t the farmers paid for the stolen crop? Why does the government then sell the stolen raisins to foreigners at below-market prices? Why has this been going on ever since 1948? There are at least 29 other programs just like it. How many government employees spend their entire careers enforcing laws like this one? No one knows. Congress does not care. A story like this never makes it into high school civics textbooks. Stories like this one make the federal government sound like a loony bin." Continue reading →

Continue ReadingThe Government Steals Raisins

The Government Steals Raisins

"Why does the federal government steal one-third to one-half of the raisin crop every year? Why aren’t the farmers paid for the stolen crop? Why does the government then sell the stolen raisins to foreigners at below-market prices? Why has this been going on ever since 1948? There are at least 29 other programs just like it. How many government employees spend their entire careers enforcing laws like this one? No one knows. Congress does not care. A story like this never makes it into high school civics textbooks. Stories like this one make the federal government sound like a loony bin." Continue reading →

Continue ReadingThe Government Steals Raisins

The Government Steals Raisins

"Why does the federal government steal one-third to one-half of the raisin crop every year? Why aren’t the farmers paid for the stolen crop? Why does the government then sell the stolen raisins to foreigners at below-market prices? Why has this been going on ever since 1948? There are at least 29 other programs just like it. How many government employees spend their entire careers enforcing laws like this one? No one knows. Congress does not care. A story like this never makes it into high school civics textbooks. Stories like this one make the federal government sound like a loony bin." Continue reading →

Continue ReadingThe Government Steals Raisins

Doug Casey: The Gold Crash Is Not What Either Bulls or Bears Are Telling You

"I don't expect it to drop much more, and I'd be very surprised at a drop below $1,000 an ounce, but there is no law of nature preventing it from doing so. All markets fluctuate. People who get panicked are overcommitted... or maybe they shouldn't be in the market because they're not psychologically suited for it. The problem is that government currency debasement practically forces everyone to be in the market, just to try to stay ahead of inflation. You can't time market bottoms, but you've got to play the odds. If I were going to sell anything now, I wouldn't think of selling my gold or gold stocks." Continue reading →

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When The Window Closes For Americans

"Something I think you can plan your life around is the eventuality of the US government imposing capital controls and other restrictive measures on the movement of people and capital. Any country that is sufficiently desperate can and will implement such measures. The big question remains: When will this happen in the US? I believe that moment will arrive sometime before it is apparent that the US dollar has lost its place as the world's premier currency. The ramifications of the US dollar losing this status are difficult to overstate. It will be the tipping point at which the US government becomes sufficiently desperate." Continue reading →

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France’s President Hollande: Eradicate tax havens

"We think we can recognize a dominant social theme when we see one. This sudden emphasis on eradicating tax havens is a manufactured media firestorm, intended to go on and on until there are few places to hide money from increasingly demanding governments. Believe, if you wish, that taxes are a legitimate duty of citizens in the 21st century. This argument still begs the question of why, in an era of central banking, governments need to collect taxes. Banks can print as much as is necessary. And according to such wise men as Ben Bernanke, banks can also drain money if the economy is getting overheated. So why taxes?" Continue reading →

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Americans in Canada can face complex tax situation

"About 1 million Canadian residents are 'U.S. persons' who are required by U.S. law to file U.S. tax returns as well as Canadian tax returns. The definition of a U.S. person includes those born in the U.S., children of American-born parents and green card holders. The problems are the punitive IRS penalties and criminal prosecution threats for failure to complete the many required annual information returns. For those who do not plan to return to live in the U.S., these extremely high penalties for not filing annual forms are encouraging U.S. persons in Canada to find out how to relinquish their U.S. citizenship." Continue reading →

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Rules Aimed at Tax Evasion Abroad Trip Up Average Americans

"Many middle- and upper-middle-class Americans have found it more and more difficult to comply with requirements on reporting the existence and value of bank accounts overseas and to reconcile the taxes of different countries. At the same time, Americans from immigrant families who have bank accounts in their home countries that they may have overlooked are being swept up by the same laws used to ferret out millionaires and billionaires stashing money in secret Swiss accounts. The Internal Revenue Service has increased its examination of such accounts, lawyers said, with serious penalties for those who have not reported them." Continue reading →

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