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Bill Bonner: The Grandest Larceny of All Time

"Along come the central banks. They're creating a new type of wealth. It is not wage income. It is not the product of capital investments. It is not the result of technology or productivity increases or hard work or self-discipline... or any of the other things that lead to wealth and prosperity. Instead, it is created by the central bank 'out of thin air.' The result? During the first two years of the nation's economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%. There may be a 'recovery' going on. But it is a recovery for the rich." Continue reading →

Continue ReadingBill Bonner: The Grandest Larceny of All Time

Tax disclosure report reveals ‘minnows’ paid penalties of as much as 129x tax owed

"Thousands of middle-class immigrants and emigrants owed Uncle Sam less than three hundred dollars of back taxes per year, and for that the IRS put them through a nightmare involving tens of thousands of dollars of penalties and lawyers fees, and threats of criminal charges and jail time if they dared to exercise their right to opt out. This is not tax collection; this is asset confiscation, plain and simple. This of course won’t matter at all to Homelanders, who will continue screaming for traitorous emigrants to be stripped of all their assets and thrown into jail over two and three digit annual income tax deficiencies." Continue reading →

Continue ReadingTax disclosure report reveals ‘minnows’ paid penalties of as much as 129x tax owed

US Military and Civil Officials Set to Police in Canada

"In the wake of a dramatic RCMP reveal of two people arrested in Canada in connection with a plot to derail a passenger train, Canadians may have questioned why the United States Department of Homeland Security and the US Federal Bureau of Investigation were involved in the operation. Those who have followed the quiet evolution of Canada-US cross-border policing, however, weren't surprised. Law enforcement agencies in Canada and the US are now working together in an unprecedented way, says the RCMP—and the two countries are hammering out a plan to let agents in both countries drive back and forth across the border as though it wasn't there." Continue reading →

Continue ReadingUS Military and Civil Officials Set to Police in Canada

Average Wealth of Members of Congress: House $6.5 Million, Senate $13.9 Million

"By law, members of Congress are only required to report their wealth and liabilities in broad ranges. It's therefore impossible to precisely determine how much value their assets are worth, or have gained or lost. from year to year. The Center for Responsive Politics determines the minimum and maximum possible asset values for each member of Congress to calculate a member's average estimated wealth." Continue reading →

Continue ReadingAverage Wealth of Members of Congress: House $6.5 Million, Senate $13.9 Million

Mexico: Border schools adjust to influx of English-speaking students

"Thousands of school children have arrived in Mexican schools from the US in the past several years amid a record number of deportations and a foundering US economy. New migration patterns are returning Mexican nationals to their homeland years after they settled in the US, married there, and had children. Teachers read from textbooks that touch on the reasons for the reverse migration currently taking place, and oftentimes, Zatarain told the teachers, parents are deported while their children are in school and the experience can traumatize youngsters." Continue reading →

Continue ReadingMexico: Border schools adjust to influx of English-speaking students

Congress proposes adding $4.5 billion to historic highs spent on border security

"Federal spending on border security is at an all-time high -- and it would get even higher under the Gang of Eight’s new plan. The Senate immigration proposal, released last week, would allocate $4.5 billion in the next five years to tighten control of U.S. borders. The U.S. spent nearly $18 billion dollars on immigration enforcement agencies last fiscal year, more than all other law enforcement agencies combined. The bill requires buying as many drones as needed to have 24/7 surveillance of the Southwest border. The U.S. has already purchased 10 border drones, which cost $18 million a piece and roughly $3,000 an hour to operate." Continue reading →

Continue ReadingCongress proposes adding $4.5 billion to historic highs spent on border security

Congress repeals law barring members’ insider trading

"Congress passed the Stop Trading on Congressional Knowledge (STOCK) Act in 2012 in response to the public outcry over members' self-serving insider trading scandal last year. As with most laws, what is a crime for citizens was not illegal or unethical for members of Congress and their staffs. It was a fleeting moment of transparency and accountability. Like a cowardly thief in the night, members of Congress quietly colluded to repeal the reporting requirements of the STOCK Act this year by unanimous consent: The shameful ordeal took all of 10 seconds in the Senate and 14 seconds in the House." Continue reading →

Continue ReadingCongress repeals law barring members’ insider trading

Lawmakers, aides may get Obamacare exemption

"Congressional leaders in both parties are engaged in high-level, confidential talks about exempting lawmakers and Capitol Hill aides from the insurance exchanges they are mandated to join as part of President Barack Obama’s health care overhaul, sources in both parties said. Yet if Capitol Hill leaders move forward with the plan, they risk being dubbed hypocrites by their political rivals and the American public. By removing themselves from a key Obamacare component, lawmakers and aides would be held to a different standard than the people who put them in office." Continue reading →

Continue ReadingLawmakers, aides may get Obamacare exemption

Bitcoin Dealers Are Running Into Problems In Canada

"Two Canadian businessmen recently got some bad news from their banks. James Grant, owner of Canadian Bitcoins, got a letter. Melvin Ng, proprietor of CADBitcoin, got a phone call. Both men run online exchanges where you can purchase Bitcoins for Canadian dollars. And both were informed their businesses’ accounts frozen by Canada’s largest banks. 'It’s a weird situation,' Ng told us by phone recently. 'We’re a normal Canadian business, we’re registered with the government, and a Canadian bank can just block it off.' Grant was more blunt: 'They just don’t like Bitcoins.'" Continue reading →

Continue ReadingBitcoin Dealers Are Running Into Problems In Canada