Mainstream News

Disgraced French budget minister lied to Swiss bank over taxes

"Disgraced former French budget minister Jerome Cahuzac lied to a Swiss bank when it accepted his assertion that funds paid into his account had been declared to tax authorities, a newspaper report said Saturday. The Zurich-based Tages Anzeiger said the politician presented a 'bogus tax certificate' to the Julius Baer bank. Cahuzac — the minister responsible for cracking down on tax evasion until he resigned in mid-March — was charged Tuesday with 'laundering the proceeds of tax fraud' after he admitted to having the foreign bank account, following weeks of denials." Continue reading →

Continue ReadingDisgraced French budget minister lied to Swiss bank over taxes

French foreign minister denies Swiss account ‘rumour’

"France's Foreign Affairs Minister Laurent Fabius on Sunday denied a 'rumour' in a newspaper report claiming that he may have a Swiss bank account, as the French government struggles to deal with a scandal over undeclared foreign bank holdings. 'I absolutely deny the rumour, published in the Monday April 8 edition of Libération, claiming I have a bank account in Switzerland,' Fabius wrote in a statement. It was Médiapart that broke the story about former budget minister Jérôme Cahuzac having an undeclared bank account in Switzerland." Continue reading →

Continue ReadingFrench foreign minister denies Swiss account ‘rumour’

Massive info leak reveals rich politicos who hide wealth in offshore accounts

"Millions of emails and leaked records from offshore tax havens have exposed the identities of thousands of holders of offshore accounts, including the family of the president of Azerbaijan and French President Francois Hollande’s one-time campaign treasurer. The alleged involvement of Jean-Jacques Augier adds to the pressure on Hollande, who is already on the defensive after his former budget minister Jerome Cahuzac was charged in a tax fraud probe. Britain’s Guardian said the information came from a leak of two million documents and emails which mainly concern the British Virgin Islands, but also the Cayman Islands." Continue reading →

Continue ReadingMassive info leak reveals rich politicos who hide wealth in offshore accounts

Italian-Switzerland border checks strike gold

"Italian finance police had a lucky find on Easter Sunday during a routine check of a family car crossing into Switzerland: they discovered gold ingots worth about €4.5 million concealed in false compartments. The car was driven by a 53-year-old Italian resident of the Swiss canton of Ticino, described by the police as the legal representative of a Swiss company. He was travelling with his wife and three children, apparently going for an Easter trip. The man was immediately charged with money laundering. The ingots and the car were seized. There has been an upsurge in the smuggling of gold from Italy to Switzerland in the past few months." Continue reading →

Continue ReadingItalian-Switzerland border checks strike gold

IRS collecting tax payer information from Facebook and Twitter

"You have until April 15th to file a return - and the IRS will be collecting a lot more than just taxes this year. According to several reports, the agency will also be collecting personal information from sites like Facebook and Twitter. It says the effort is to catch people trying to beat the system, but some say it goes too far. Attorney Kristen Mathews warns to be careful with what you say on social media platforms. She has concerns the government is pushing the limits of what has historically been considered private. The government has said it would only check a Facebook page or twitter account if there is already red flag in a tax form." Continue reading →

Continue ReadingIRS collecting tax payer information from Facebook and Twitter

Trust in Gold Not Bernanke as U.S. States Promote Bullion

"Lawmakers in Arizona are poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states. The Utah Precious Metals Association, established after passage of the 2011 law to advocate for the use of gold and silver coins, has about two dozen members enrolled in a two month-old bill-pay service in which their accounts are held in gold, said Lawrence Hilton, the group’s chairman. Hilton envisions a future with an alternative monetary system based on precious metals in which merchants accept silver coin while gold mostly backs electronic transfers." Continue reading →

Continue ReadingTrust in Gold Not Bernanke as U.S. States Promote Bullion

AFP: Bitcoin price bubble soars to record as investors grow nervous

"A cottage industry of stores buying and reselling goods online for Bitcoins has emerged, and some high-profile transactions have helped push the currency into mainstream consciousness. One Canadian man reportedly hoped to sell his house for Bitcoins, and a US man claimed to have traded his 2007 Porsche for 300 Bitcoins. The Cyprus banking crisis – which saw the tiny nation agree a bailout deal with the International Monetary Fund, European Commission and European Central Bank that will shrink the banking sector and lead to losses on deposits of more than 100,000 euros – also coincided with a run-up in Bitcoin valuation." Continue reading →

Continue ReadingAFP: Bitcoin price bubble soars to record as investors grow nervous

Look Out Below, The Obamacare Chaos Is Coming

"The harsh reality of Obamacare is that tens of millions will lose their employer provided insurance because of the perverse incentives under the program. Even the establishment CBO admits that at least 7 million, and as many as 20 million, will lose their employer coverage. Workers who do not receive employer provided coverage are eligible to purchase their health insurance on the state Exchanges with extensive taxpayer subsidies to help cover the cost. Employers can terminate their employee coverage, give their workers a raise with part of the savings, and let the taxpayers bear the cost of subsidizing their coverage in the Exchanges." Continue reading →

Continue ReadingLook Out Below, The Obamacare Chaos Is Coming

Americans pile into silver, gold coins

"Interest in these glittery investments – which soared five years ago – has been especially hot this year. In January, the US Mint sold 7.5 million American Eagle silver bullion coins to dealers – a monthly high, and not far from the 9.9 million silver American Eagles it sold in all of 2007. Demand was so strong that the Mint temporarily ran out of supplies and had to suspend sales for roughly 10 days. In addition, sales of American Eagle gold bullion coins hit highs not seen since June 2010." Continue reading →

Continue ReadingAmericans pile into silver, gold coins

Investors Pile Into Housing, This Time as Landlords

"U.S. housing recoveries almost always have been ignited by rising demand from families and individuals looking for a place to live. This recovery is different. Investors—including some big Wall Street players—are leading the way, say industry executives and analysts. Their role is noteworthy given that flippers and speculators were blamed for helping to inflate the housing bubble of the past decade. Today's investors are mostly buying with the intention of holding on to the homes and renting them out. Fear of buying homes when prices are dropping has been replaced by the fear of missing out on cheap homes." Continue reading →

Continue ReadingInvestors Pile Into Housing, This Time as Landlords