Essays

Cuba’s Past Could Be Your Future

"If the reader lives in a country where laws are being written to limit his ability to expatriate a portion of his wealth, or, worse, to repatriate it if it has already been internationalised, he would do well to examine which of his freedoms will be the next to be lost. There is little discussion at present over whether it may soon be necessary in some counties that are part of what was once called the 'free' world, to apply for an exit visa in order to travel outside that country.Yet, historically, declining countries commonly impose such restrictions to assure that their citizens do not seek greener pastures." Continue reading →

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Prohibition Caused the Greatness of Gatsby

"Gatsby comes from a dirt-poor family and is a big dreamer, as well as a big risk taker. He keeps his past shrouded in a web of lies and half-truths as he sets out to remake himself into a person of wealth and prominence. This is the ideal personality for making it big in black markets. The mysterious Jay Gatsby indeed does become 'filthy' rich by selling illegal booze. During Prohibition doctors could prescribe 'medicinal liquor' for their patients for literally dozens of ailments, including alcoholism. Gatsby sees this as an opportunity and establishes a chain of drugstores with the help of organized crime and corrupt politicians." Continue reading →

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How to Spot a Market Top

"The wide array of optimistic extremes in sentiment measures includes several readings that exceed the extremes of 2007, when the Dow made its previous high. With a finishing structure that Elliott Wave Principle describes as occurring at 'the termination points of larger patterns,' the market is ripe for a decline of historic magnitude. The sudden, loud chorus of market bulls, which has grown to a full-blown crescendo, fits perfectly with the terminal stages of a major advance. This chart shows the stunning breadth of optimism extending to every class of investor." Continue reading →

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The Digital Trap in your Offshore Plan

"It is concerning to see people contacting their offshore lawyers, real estate agents, investment professionals, bankers, etc. using their Gmail, Yahoo, or Hotmail account. Even more concerning is how many offshore professionals were using these free US email accounts themselves. When I told these providers that US law enforcement authorities could access any emails over 6 months old without a warrant in any US-based email account, they were, by and large, surprised. Many discussions took place on how to help protect themselves and their customers by moving their email communications offshore, just like other services." Continue reading →

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Why Are Cops Acting Like Soldiers?

"In 1981, President Reagan signed the Military Cooperation with Law Enforcement Act, a law that granted the Pentagon permission to assist domestic police departments engaged in enforcing the nation’s drug laws. Similar legislation accompanied efforts to combat terrorism even before 9/11. A 1997 federal law known as Program 1033 made it easier for state and local law enforcement agencies to obtain surplus military hardware—including body armor, armored vehicles, and surveillance equipment—for use in counterdrug and counterterrorism activities. In 2011, the program transferred $500 million worth of equipment to state and local law enforcement agencies." Continue reading →

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Doug Casey’s Primer on Internationalization — International Man

"Doug Casey's International Man Network is a highly-actionable and practical service for new and experienced freedom-seekers, investors, adventurers, speculators and expatriates who are looking to make the most of their personal freedom and financial opportunity around the world. Become internationalized to reduce the political risk of being dependent on any single, and potentially desperate, government." Continue reading →

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Does Innovation Require the Patent Office?

"Most patent holders cling to them as a source of life and defend them against all encroachment. Some businesses build up their war chests with patents as purely defensive measures. The more you own, the more you can intimidate your competitors to stay out of your territory. So how important are patents in generating innovation? The answer is not much, according to four economists from the Technical University of Lisbon. Their findings are remarkable: Nine in 10 of the innovations were never patented. They were just created and marketed, and changed the world." Continue reading →

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How the Iraq War Became a War on Christians

"The U.S. fails to recognize that the Islamist-Wahabbist commitment to eradicating Christian minorities today will result in the extinction of diverse modes of Islam tomorrow, a fact that is not lost on moderate Muslims. The objective of the Iraq War—to democratize the Middle East—may yet be realized. But democracy in the Middle East is proving less tolerant than the regimes it has succeeded. These democracies will not march ineluctably toward liberty and pluralism, as some naïve optimists continue to forecast despite the evidence, but will end in the ordered barbarism of Saudi Arabia, where punishments include beheading and crucifixion, according to Amnesty International." Continue reading →

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Making Sense of Bitcoin

"Despite the various opinions on Bitcoin, there is no question as to its ultimate value: the ability to bypass government restrictions, including economic embargoes and capital controls, to transmit money quasi-anonymously to anyone anywhere virtually instantaneously irrespective of geopolitical restrictions. While virtually all digital currencies can more or less do the same, no other currency offers an equal combination of peer-to-peer transactions, strong encryption, anonymity, and liquidity that Bitcoin has possessed up to this point." Continue reading →

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The enduring mystery of U.S. offshore cash

"The U.S. Internal Revenue Service lumps in the foreign dividend with corporate income. While the U.S. offers a credit for foreign taxes paid, U.S. multinationals typically face an extra tax bill when the foreign earnings come home for a number of reasons, including the higher U.S. corporate income tax rates. So when Apple says it intends to give $100-billion back to shareholders by the end of 2015, it's all well and good. It's got just $45-billion in the U.S., however, and that's what leads to a cash-rich company borrowing more cash, just to give it away." Continue reading →

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