CLibertyC

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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Austria, Luxembourg to give up banking secrecy for foreigners

"Austria has initiated the abolition of banking secrecy for foreigners and will begin talks with the European Union (EU) over automatic information exchange, Austrian Chancellor Werner Faymann said Tuesday. Up to now Luxembourg and Austria have been the only two EU nations to refuse to disclose the identity of bank account holders from other EU countries. Luxembourg announced during the weekend its own intention to give up the practice for foreigners. Faymann added that the practice of tax avoiding through falsifying tax liabilities had to be stopped." Continue reading →

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Spain opposes extradition of Swiss bank data thief

"Swiss authorities want Hervé Falciani, a French-Italian citizen arrested in Barcelona in July 2012 and then granted conditional release, sent back to Switzerland to face charges of breaching banking secrecy. The files, which were subsequently relayed by French investigators to their counterparts in the United States, Spain, Italy and several other European Union countries, led to a raft of prosecutions. He told the court he obtained the files from colleagues and said the information was so abundant that 'if printed, it would fill an entire freight train.' Falciani said he informed Swiss authorities in 2008 but they refused to let him make an anonymous complaint." Continue reading →

Continue ReadingSpain opposes extradition of Swiss bank data thief

Fr33 Aid Abandons Non-Profit Tax Status in Favor of Bitcoin

"Many organizations seek non-profit recognition from the IRS in an attempt to protect themselves from asset confiscation. In April 2012, Fr33 Aid applied for this privileged status, but since then the process has been nothing but a bureaucratic nightmare. Today Fr33 Aid announced they have abandoned their IRS application and adopted bitcoin as their primary financial instrument. Fr33 Aid Treasurer, Teresa Warmke said: 'Now that there are ways for us to do banking without government involvement, we decided fulfilling (IRS demands) would not be a responsible way for Fr33 Aid to spend its money nor for our volunteers to spend their time.'" Continue reading →

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A Silver Lining That Could Double Your Money

"Coming off the gold standard in 1971 ensured a new volatile rise in commodity prices would continue. That means that savvy investors should own assets that rise along with inflation. Precious metals are a good option – and given its current position, my choice would be silver. Silver’s drivers are still in place, and because no one wants silver right now, it’s a great contrarian play. I believe silver offers great risk-reward right now, which is the final reason it’s a buy." Continue reading →

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Is the Boston Bombing the “Moral Equivalent” of Drone Strikes?

"While Obama demands justice in the Boston bombing, he is silent about his own role in setting off bombs in overseas countries. If the U.S. drones have killed about 4,700 people abroad, then we are talking about something that dwarfs the horror of what happened at Boston. I am not speaking of tit-for-tat. However, I am sure that the horror that people in Muslim countries experience at a drone strike is every bit as awful as what people experienced in Boston yesterday. I do not believe that we are free to denounce the evil at Boston and cheer on the evil our government perpetrates overseas. We must denounce both or risk being the worst hypocrites on the planet." Continue reading →

Continue ReadingIs the Boston Bombing the “Moral Equivalent” of Drone Strikes?

Filmmaker: Obama’s war on whistleblowers ‘a terrible disservice to democracy’

"Appearing on CNN Sunday, documentary filmmaker Robert Greenwald said that his latest film will highlight the Obama administration’s ongoing 'war' against people who reveal the government’s embarrassing and sometimes shocking secrets. 'War on Whistleblowers: Free Press and the National Security State' documents the Obama administration’s efforts to silence and retaliate against whistleblowers, and the effect that overreaching government secrecy has on journalism." Continue reading →

Continue ReadingFilmmaker: Obama’s war on whistleblowers ‘a terrible disservice to democracy’

Study reveals GMO corn to be highly toxic

"A leaked study examining genetically-modified corn reveals that the lab-made alternative to organic crops contains a startling level of toxic chemicals. The report was provided by a representative for De Dell Seed Company, an Ontario-based farm that’s touted as being Canadian only non-GMO corn seed company. According to the analysis, GMO corn tested by Profit Pro contains a number of elements absent from traditional cord, including chlorides, formaldehyde and glyphosate. While those elements don’t appear naturally in corn, they were present in GMO samples to the tune of 60 ppm, 200pm and 13 ppm, respectively." Continue reading →

Continue ReadingStudy reveals GMO corn to be highly toxic

Are You a Milk Cow for the Government?

"I thought it would be useful to look at when Tax Freedom Day occurs across the world to gain some perspective. Tax Freedom Day (TFD) is the day of the year that the average person has in theory earned enough money to pay their annual tax bill. If TFD falls on January 1st that means you are a milk cow for ZERO days out of the year for the government. If it falls on June 30th it means you are working 181 days each year to pay off your taxes. Unfortunately most of us will spend some time during the year acting as a milk cow in some fashion for a government. Below is a table showing when TFD hits in the countries within the EU." Continue reading →

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Foreign Central Banks Keep Buying U.S. Treasury Debt

"Latest report: foreign holdings of U.S. government debt are up by 10%, year over year. China has been buying. It now holds $1.2 trillion. The total comes to $5.66 trillion. Of this, 72% is held by foreign governments and central banks. This policy of inflating the domestic currency and buying U.S. Treasury debt with the new money holds down U.S. interest rates. It helps keep recession away. It also holds down the dollar value of foreign currencies. This is great for American consumers. American consumers are getting subsidies from foreign governments. This is mercantilism in action. American consumers are the great beneficiaries." Continue reading →

Continue ReadingForeign Central Banks Keep Buying U.S. Treasury Debt