Imperial Hubris

US Killed Hundreds of Children in Afghanistan, Says New Report — US Rejects Report

"The UN Committee on the Rights of the Child reported that it was 'alarmed' by reports that hundreds of children died as a result of the U.S.-led war in Afghanistan because of a 'reported lack of precautionary measures and indiscriminate use of force,' the Los Angeles Times reported over the weekend. The UN report also condemned the arrest and detention of children in Afghanistan. But the U.S. military said 'the reports were unsubstantiated and cited figures from the U.N. Assistance Mission in Afghanistan showing that the vast majority of civilian deaths and injuries in Afghanistan over the last several years were caused by insurgents.'" Continue reading →

Continue ReadingUS Killed Hundreds of Children in Afghanistan, Says New Report — US Rejects Report

FATCA: Do I have to report my offshore gold?

"Imagine what would happen if the Chinese government passed a law requiring US banks to share customer information with Beijing. People would go nuts. But in the Land of the Free, it’s normal. Crazy. It gets worse. FATCA was a mere 18 pages of poorly worded legislation that failed to define critical terms. How many pages of regulations did the IRS issue? The answer is a mind numbing 544 pages. After an initial read, though, the language of the regulation does suggest that custodial gold institutions (like GoldMoney, etc.) should be reported. Offshore safety deposit boxes (like Das Safe) do not." Continue reading →

Continue ReadingFATCA: Do I have to report my offshore gold?

Should You Renounce Your U.S. Citizenship?

"In the case of Saverin, he was already living in Singapore and did not have deep ties to the U.S. because he hadn’t been here very long. In his case, the financial benefits were clear: he would’ve paid a 35% federal tax rate in the U.S. in addition to 15% on capital gains, while in Singapore his tax rate would be 20% at most and no capital gains tax. So how would your tax burden stack up? If you earn $1 million a year, that’s almost $396,000 you’re keeping in your pocket (based on the top 39.6% income tax rate) if you said goodbye to the U.S. and took up residency in a place like Monaco, which doesn’t tax income at all." Continue reading →

Continue ReadingShould You Renounce Your U.S. Citizenship?

Obama rebukes North Korea over nuke test and calls for ‘swift’ and ‘credible’ action

"US President Barack Obama said Tuesday that North Korea’s 'provocative' nuclear test did not make it more secure and called for 'swift' and 'credible' international action in response. Obama also vowed in a written statement that Washington would remain vigilant in the face of the underground detonation by the Stalinist state and steadfast in its defense commitments to its allies in Asia. 'The danger posed by North Korea’s threatening activities warrants further swift and credible action by the international community,' Obama said, ahead of an emergency meeting of the UN Security Council called for later on Tuesday." Continue reading →

Continue ReadingObama rebukes North Korea over nuke test and calls for ‘swift’ and ‘credible’ action

U.S. ‘very disappointed’ by Russian ban on U.S. meat

"Washington sharply criticized Moscow Monday for banning imports of US meat, saying the Russians had ignored scientific proof that an additive in US animal feed is safe. Top US officials said that global food-safety experts had cleared the additive, ractopamine, as safe at levels used in the United States. But Russia, enforcing its own rules against any presence of ractopamine, on Monday banned all imports of beef, turkey, chicken, pork and other animals." Continue reading →

Continue ReadingU.S. ‘very disappointed’ by Russian ban on U.S. meat

China Eclipses U.S. as Biggest Trading Nation

"China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports of goods, official figures from both countries show. China’s customs administration reported last month that the country’s trade in goods in 2012 amounted to $3.87 trillion. China’s growing influence in global commerce threatens to disrupt regional trading blocs as it becomes the most important commercial partner for some countries. Germany may export twice as much to China by the end of the decade as it does to France, estimated Goldman Sachs Group Inc.’s Jim O’Neill." Continue reading →

Continue ReadingChina Eclipses U.S. as Biggest Trading Nation

America’s Secret War in North Africa Behind Benghazi Attack

"Behind closed doors, President Obama had given his counterterrorism adviser, John Brennan, carte blanche to run operations in North Africa and the Middle East. In 2012, a secret war across North Africa was well underway. With JSOC, Brennan waged his own unilateral operations in North Africa outside of the traditional command structure. The aftermath of one of these secret raids into Libya would have grave consequences for all of them. SOFREP believes the Benghazi attack on 9/11/12 was blowback from the late-summer JSOC operations that were threatening the Al Qaeda-aligned militant groups (including Ansar Al-Sharia) in Libya and North Africa." Continue reading →

Continue ReadingAmerica’s Secret War in North Africa Behind Benghazi Attack

Turkey will not halt Iran gold exports despite sanctions pressure

"U.S. officials are concerned that Turkey’s gold sales, which allow Iran to export natural gas, provides a financial lifeline to Tehran, which is largely frozen out of the global banking system by Western sanctions imposed over its nuclear programme. Turkey, Iran's biggest natural gas customer, has been paying the Islamic Republic for oil and gas imports with Turkish liras, because sanctions prevent it from paying in dollars or euros. Iranians then buy gold in Turkey, and couriers carry bullion worth millions of dollars in hand luggage to Dubai, where it can be sold for foreign currency or shipped to Iran." Continue reading →

Continue ReadingTurkey will not halt Iran gold exports despite sanctions pressure

Iranians shun own currency for Gold

"Iranians continued to purchase gold from every available centers on fears about it's economy, particularly the risk of soaring inflation and a wobbly currency. Worries about the declining buying power of the rial and doubts over the currency’s stability are the main drivers behind the flight to gold. Due to sanctions, Iranians have no choice but to invest in gold coins as they can't move their capital and invest in other countries. Treasured as a store of value, Iran’s gold coins, minted over centuries, are also culturally important. Produced by the Central Bank of Iran, a standard gold coin weighs 8.133 grams. It is also sold in smaller denominations." Continue reading →

Continue ReadingIranians shun own currency for Gold

Defense Secretary Panetta admits the Pentagon and Clinton supported arming Syrian rebels

"Defense Secretary Leon Panetta on Thursday admitted for the first time that the Pentagon had backed proposals to arm the Syrian opposition battling to oust President Bashar al-Assad. The idea was first floated by former secretary of state Hillary Clinton, who met privately with David Petraeus, then CIA chief, in the summer of 2012 as the fighting raged in Syria. They proposed vetting rebel groups and training fighters in a plan which they presented to the White House, according to the New York Times, citing administration officials." Continue reading →

Continue ReadingDefense Secretary Panetta admits the Pentagon and Clinton supported arming Syrian rebels