CLibertyC

Tax compliant Americans abroad with a principal residence or mutual funds should renounce citizenship

"It has become clear for U.S. citizens abroad that the only thing worse than NOT being tax compliant is BEING tax compliant. The cost of U.S. tax compliance is that your U.S. citizenship will disable you from effective financial and retirement planning. The reason is that the U.S. considers most non-U.S. investment vehicles to be PFICs. The sale of your principal residence will be subject to a capital gains tax. Furthermore, the additional “Obamacare taxes” imposed on investment income will make the situation worse. If you you own a principal residence or a non-U.S. mutual fund and you sell it all the gains (and possibly more) will be confiscated." Continue reading →

Continue ReadingTax compliant Americans abroad with a principal residence or mutual funds should renounce citizenship

How the Federal Reserve Just Hid Important Data

"One of the most important data points released by the Federal Reserve has been the amount of excess reserves sitting at the Federal Reserve. This is important data because these reserves are sitting at the Fed and not in the economy bidding up goods and service. If banks start pulling this money out of the Fed and making loans with the money, the money supply will explode, as well as price inflation. This must be watched closely. But notice something about this chart, the chart title says the series is discontinued. Got that? One of the most important data points is no longer reported by the Federal Reserve." Continue reading →

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Who Really Whacked Tony Soprano

"Mr. Gandolfini’s estate is estimated to be about $70 million. Due to poor legal advice and estate planning, more than $30 million of his estate could go to the government thanks to a 'death tax,' or an estate tax of 55%. Unless Gandolfini was sitting on large sums of cash, his family will now be forced to sell off property and liquidate assets quickly in order to pay the tax bill. There are a few simple techniques that could have saved Tony millions, and they can work for you too." Continue reading →

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A Flourishing $40 Million Medical Marijuana Industry Helps Israelis Forget

"Illegal for recreational use, today medical cannabis is prescribed to some 11,000 Israeli patients, up from 1,800 in 2009, according to the Israeli Health Ministry. It is used to treat an extensive list of illnesses including cancer, Parkinson’s, Tourette syndrome, and PTSD. While government attempts to limit use have sparked a heated debate, legislation is still relatively liberal. In May, Health Minister Yael German announced that an additional 11 doctors would be certified to prescribe cannabis—bumping up the number to 19—by the end of the year. While rabbinic support for medical cannabis has long existed in Israel, government regulation is relatively new." Continue reading →

Continue ReadingA Flourishing $40 Million Medical Marijuana Industry Helps Israelis Forget

The Department of Energy Is About to Mess With Computer Power

"The Energy Department signaled Friday it intends to order new efficiency standards for all computers and servers in the United States, reports The Hill. A pair of documents published in the Federal Register said the DOE has 'tentatively' ruled that a federal law designed to curtail consumer energy use, created in the wake of the 1973 oil crisis, also covers computer and servers." Continue reading →

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He Could Bear Arms for the Government — But Not For Himself

"Before he retired from the Army in 1993, Houston resident Ron Kelly spent decades firing machine guns, tanks, and other high-performance weapons. Kelly estimates that during his military career he fired 100,000 rounds of ammo. Yet when he recently tried to purchase a .22-caliber rifle at a local Wal-Mart, Kelly was denied – because a computerized background check turned up a misdemeanor marijuana conviction from 1971. As a teenager, Kelly was arrested with a baggie of pot at High School and given a year of probation." Continue reading →

Continue ReadingHe Could Bear Arms for the Government — But Not For Himself

Fox commentator was paid $50,000 to tout stock

"Most investors can’t tell the difference between 'sponsored investment research' and independent analysis, and that’s exactly what the 'sponsors' — typically small companies paying for a marketing campaign that will inflate their stock activity and value — are counting on. The difference gets even tougher to figure out when the sponsor hires someone who is known for giving independent commentary colored only by his own feelings and research. Last week, that bought-and-paid-for stock endorsement was a 20-page mailer about Petrosonic Energy, supported by an email campaign, featuring Tobin Smith, a regular on the Fox networks." Continue reading →

Continue ReadingFox commentator was paid $50,000 to tout stock

Remember “8 Pressure Stock Pitches Stockbrokers at John Thomas Financial Might Use on You”?

"John Thomas Financial, the beleaguered Wall Street brokerage firm founded by celebrity broker Tommy Belesis, has fallen so far it’s now six feet under. The formerly high-flying brokerage firm, which once boasted attendants in its office bathroom and ties to famed film director Oliver Stone, filed termination requests with federal and state regulators. In March, the SEC filed a lawsuit against Belesis and George Jarkesy, a Houston radio host, accusing them of deceiving investors of a hedge fund allegedly controlled by Belesis. In April, Finra filed a complaint accusing Belesis of selling the brokerage firm’s shares ahead of clients and intimidating and harassing brokers." Continue reading →

Continue ReadingRemember “8 Pressure Stock Pitches Stockbrokers at John Thomas Financial Might Use on You”?

A Congregation of Liars: The U.S. Government

"Put aside for a moment that this massive, secret surveillance of all of our emails, phone calls and financial records violates our constitutional rights. I have commented about that before. I want you to consider what a government of lies means to each of us, and to America’s future, when our government officials, led by the president of the United States, routinely lie to us, intentionally and repeatedly. At worst, this destroys whatever trust we have in a government that now controls much of our lives. It engenders fear, disrupting our personal ability to plan our lives, our businesses and to move forward. Living under lies means we can never be certain about our future." Continue reading →

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Glenn Beck calls for celebrating Ramadan by shooting all Guantanamo prisoners in the head

"Let's save some money... here's the thing... We can't let them starve themselves to death? Damn right we can. We can also shoot them in the head, which is the other option and the one I'm for. SHOOT THEM. But, the other is let them starve to death and I'm totally fine with that. I don't want to starve anybody myself; but I don't want to do that. I want to be the country that we all love and appreciate. You know the one that is feared by its enemies, but should not be a country that is feared by all. But is feared by its enemies." Continue reading →

Continue ReadingGlenn Beck calls for celebrating Ramadan by shooting all Guantanamo prisoners in the head