Monthly Archives: August 2013

Why So Many Swiss Binationals Are Giving Up U.S. Citizenship

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“Fiscal motives alone aren’t the cause for the dramatic rise in citizens renouncing their U.S. citizenship, argues Anne Hornung-Soukup, a board member for American Citizens Abroad. She is also the wife of Genevan lawyer Douglas Hornung, who defends Swiss bank employees targeted by the American tax authorities.  ‘It’s more the combination of administrative costs, the logistics and the threat of fines that push my compatriots into action,’ she says. Indeed, failing to declare to the IRS is punishable even in the case where there would be no taxation.  ‘An American passport has become toxic’ for binationals, she says, in large part because banks have not reacted well to the new requirements.”

http://www.worldcrunch.com/culture-society/why-so-many-swiss-binationals-are-giving-up-u.s.-citizenship/switzerland-binationals-nationality-fatca-u.s./c3s13134/

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Swiss Offshore-Adviser’s Guilty Plea Marks a Shift in Tax Crackdown

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“On Aug. 16, Edgar Paltzer, 57 years old, a Swiss lawyer formerly with the Zurich firm of Niederer, Kraft & Frey, pleaded guilty in federal court in New York to a single count of conspiracy. Experts say Mr. Paltzer is the most prominent Swiss adviser to confess and the first to do so publicly. More than 30 advisers have been indicted in connection with allegedly enabling U.S. taxpayers to hide money abroad.  The case puts further pressure on U.S. taxpayers holding secret offshore accounts, because advisers might opt to protect themselves by turning in their clients.  The case also expands government scrutiny to assets stored in bank vaults.”

http://online.wsj.com/article/SB10001424127887323980604579029124124818620.html

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“When Will They Learn?”

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“In a conservative administration, a government will institute greater social controls. In the following liberal administration, the government will institute greater economic controls. And the police state will be increased under both administrations. The net effect is overall increased dominance by government. Under the two-party system, this dominance is not only tolerated by the populace, but encouraged. The day never comes when a people convince their government to ‘lighten up.’ Relief only comes when an overly-powerful governmental system collapses under its own weight.”

https://www.internationalman.com/78-global-perspectives/994-when-will-they-learn

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The Worst Law Most Americans Have Never Heard Of

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“While there is still an opportunity for you to avoid getting boxed in by a desperate and out-of-control government, nobody knows exactly how much time is left. And once official capital controls are implemented (#3), your wealth is trapped and things tend to unravel pretty quickly. Developing your internationalization game plan does not mean you have to leave your home country. It is possible to achieve a certain level of international diversification without needing to leave your living room, for example, by opening a foreign bank or brokerage account remotely. The idea is to create your own personal insurance policy to immunize yourself from the common destructive measures of a desperate government.”

https://www.internationalman.com/78-global-perspectives/995-the-worst-law-most-americans-have-never-heard-of

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The Empire’s Next Effort to Extract Your Wealth

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“Since before the tech bust, we’ve been suggesting that while Americans ‘think’ they’re getting richer… they’re actually heading in the other direction. They’re getting poorer. This proposition has been easier for folks to entertain since housing busted and the financial crisis reversed the “wealth effect” in 2008. With that in mind, let’s take a look at the logic of the American Empire and what you can expect in the year(s) ahead.”

http://dailyreckoning.com/the-empires-next-effort-to-extract-your-wealth/

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Ron Paul: Middle of the Road in Healthcare Leads to Socialism

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US-POLITICS-PAUL

“Beginning in the 1940s, government policies distorted the health care market, causing prices to rise and denying many Americans access to quality care. Congress reacted to the problems caused by their prior interventions with new interventions, such as the HMO Act, ERISA, EMTLA, and various federal entitlement programs. Each new federal intervention not only failed to fix the problems it was supposedly created to solve, it created new problems, leading to calls for even more new federal interventions. This process culminated in 2010. Contrary to the claims of some of its opponents, Obamacare is not socialized medicine. It is corporatized medicine.”

http://www.lewrockwell.com/2013/08/ron-paul/the-commie-doctor-wont-see-you-now/

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Citizen Obama’s Middle-Class Vacation in Martha’s Vineyard

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“Seventy hotel rooms had been booked for the president’s secret police (not counting those for the whores). Somber men could be seen everywhere with earpieces and bulging jackets. People on the island generally yielded before them on the sidewalk, out of deference for what they understand are their own bodyguards. ‘It’s good to be in Massachusetts again,’ the president confided when climbing down from a MV-22 Osprey, a military helicopter-airplane hybrid. ‘With its tough gun laws, the state of Massachusetts illustrates how common-sense controls can reduce crimes and create a safe gun-free zone for middle-class families like mine.'”

http://dailyreckoning.com/citizen-obamas-middle-class-vacation-in-marthas-vineyard/

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America’s Social Recession: Five Years and Counting

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CHS9a1

“What happens to the social fabric of an advanced-economy nation after a decade or more of economic stagnation? For an answer, we can turn to Japan. The second-largest economy in the world has stagnated in just this fashion for almost twenty years, and the consequences for the ‘lost generations’ which have come of age in the ‘lost decades’ have been dire. In many ways, the social conventions of Japan are fraying or unraveling under the relentless pressure of an economy in seemingly permanent decline.”

http://charleshughsmith.blogspot.com/2013/08/americas-social-recession-five-years.html

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Economic Darwinism and the Next Financial Crisis

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CHS9a1

“The boom times enabled animals called bankers grow to massive size. Nature selected those who were the fittest for that environment. When the environment changed, these animals were like dinosaurs staring at the glaciers. The interest rate policy of the Federal Reserve today is designed to keep those dinosaurs warm and well fed. The people who run our country were largely selected by Economic Darwinism from a pool of people who owe their success to cheap interest. It is no surprise that these people see cheap interest as the only solution to our economic woes. This policy is about rebuilding their past rather than improving your future.”

http://charleshughsmith.blogspot.com/2013/08/economic-darwinism-and-next-financial.html

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Creative Destruction—The Best Game in Town

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“It is a sorrowful reality that for the past century or more, people in the West have for the most part turned increasingly away from the economic system whose creativity redeems it and embraced instead systems whose hallmarks are economic irrationality, resource waste, bureaucratic tyranny, and ultimately mass impoverishment. Perhaps the great economic advances in Asia, where the market has been given wider scope in recent decades, will serve as a lesson to Westerners, pulling them back before they allow their governments to plunge them into the mass poverty from which their ancestors pulled themselves by means of the market system in earlier centuries.”

http://blog.independent.org/2013/08/28/creative-destruction-the-best-game-in-town/

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