Monthly Archives: December 2013

Don’t Let the Fed Pick Your Pocket

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“If you are one of those who believe that rates will rise when Ben Bernanke leaves office in January, think again. The new Federal Reserve chief, Janet Yellen, has no intention of boosting rates. She will certainly not be a friend to savers.  During Yellen’s confirmation hearings on Capitol Hill, she acknowledged that seniors are hurt by low interest rates that are a matter of policy. However, the incoming Fed chief believes the greater good — the health of the U.S. economy — takes precedence over savers.  This means that if you’re still relying on CDs and interest-bearing accounts to generate income, you’ll be slaughtered.”

http://thesovereigninvestor.com/2013/12/09/dont-let-fed-pick-pocket/

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Grand Illusion: Social Security Is a Government Insurance Program

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“At the age of 17, in 1959, I was taught the truth in a high school civics class. The program is not funded in terms of any insurance program.  First, the Supreme Court of the United States in 1960 declared that the Social Security program is not an insurance program. The case was Fleming v. Nestor.  Second, there is no money in the Social Security Trust Fund. There is merely a stack of IOUs issued by the Treasury Department.  There is no money in this fund. The government has spent every dime.  To get money to pay beneficiaries, the SSA must turn in some of those IOUs to the Treasury. The Treasury must then use money out of the General Fund to pay the SSA its money.”

http://www.garynorth.com/public/11875.cfm

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Bill Bonner: Is This Emerging Market About to Be Hit by a ‘Perfect Storm?’

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“‘What’s the outlook for Brazil?’ we asked our colleague Rodolfo Amstalden of Empiricus Research in Sao Paulo. It was raining outside. We were in his new digs, overlooking the fashionable Itaim district.  ‘That depends on who you talk to,’ he began. ‘But to us it looks terrible. We’re warning investors to watch out for a ‘perfect storm’ that could flatten share prices on the Bovespa.  You have to realize that shares have lost 17% this year. And they’re down 30% from their high set in 2008.  But that doesn’t mean they’re cheap. The average P/E is still about 17 – not too far away from the US average.  And here’s what could happen in 2014…”

http://www.bonnerandpartners.com/is-this-emerging-market-about-to-be-hit-by-a-perfect-storm/

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Uruguay becomes first country to legalize marijuana trade

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“Uruguay became the first country to legalize the growing, sale and smoking of marijuana on Tuesday, a pioneering social experiment that will be closely watched by other nations debating drug liberalization.  A government-sponsored bill approved by 16-13 votes in the Senate provides for regulation of the cultivation, distribution and consumption of marijuana and is aimed at wresting the business from criminals in the small South American nation. Cannabis consumers will be able to buy a maximum of 40 grams (1.4 ounces) each month from licensed pharmacies as long as they are Uruguayan residents over the age of 18 and registered on a government database that will monitor their monthly purchases.”

http://www.reuters.com/article/2013/12/11/us-uruguay-marijuana-vote-idUSBRE9BA01520131211

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Ahead of the Herd—Nicaragua’s Enormous Potential

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“When I embarked on my journey I would never have guessed Nicaragua is where I would have ended up. Here I sit, writing, with the soothing sound of the waves on the beautiful beach of San Juan del Sur just outside of my balcony.  Nicaragua is the second safest country in all of Central America, behind only Costa Rica. Nicaraguans are kind and hospitable people. Walking down the street during the day or night, I am always greeted with a friendly ‘hola’ or ‘buenos dias’ from people walking past. I have never felt threatened or in danger in all the time I have been here.  Guatemala may be the only country that comes close to the low cost of living a person can enjoy in Nicaragua.”

http://www.internationalman.com/78-global-perspectives/1058-ahead-of-the-herd-nicaraguas-enormous-potential

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The Easiest Country to Obtain Residency: Panama

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“A law was passed in 2012 (Executive Order 343) to encourage certain foreign citizens to come to Panama.  This program is often referred to as the ‘Specific Countries’ or ‘Friendly Countries’ program.  Eligible countries include the USA, Canada, and many European countries. It requires one simple application and a deposit of at least $5,000 USD in a local bank account, plus an additional sum of $2,000 USD for each dependent.  Applicants will also have to show proof of some meaningful economic activity in Panama.  Incorporating a new LLC in Panama in order to qualify is not particularly difficult or expensive.  You become eligible to obtain full citizenship and a Panamanian passport after five years.”

https://www.internationalman.com/78-global-perspectives/1053-the-easiest-country-to-obtain-residency-panama

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The End of Private Property in the Era of the American Police State

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“If government officials can fine and arrest you for growing vegetables in your front yard, praying with friends in your living room, installing solar panels on your roof, and raising chickens in your backyard, you’re no longer the owner of your property. If school officials can punish your children for what they do or say while at home or in your care, your children are not your own.  If government agents can invade your home, break down your doors, kill your dog, damage your furnishings and terrorize your family, your property is no longer private and secure—it belongs to the government. If police can forcefully draw your blood, strip search you, and probe you intimately, your body is no longer your own.”

https://www.rutherford.org/publications_resources/john_whiteheads_commentary/the_end_of_private_property_in_the_era_of_the_american_police_state

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RNC members tackle Foreign Account Tax Compliance Act, or FATCA

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“Republican National Committee members are drafting a resolution calling for the repeal of a soon-to-be-implemented tax law that critics say is contributing to Americans living abroad renouncing their U.S. citizenship in record numbers.  The law was designed to catch tax American cheats hiding financial assets overseas.  But many of the more than six million Americans living abroad say FATCA has made life difficult for them because several foreign banks, not wanting to deal with the IRS, are turning away American customers or closing accounts of existing U.S. clients.  The situation has become so dire that more and more expats are dropping their U.S. citizenship.”

http://www.mcclatchydc.com/2013/12/06/210878/rnc-members-tackle-fatca.html

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Finally, Some Good News about FATCA

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“Most FFIs aren’t anxious to go it alone with the IRS. It’s like Little Red Riding Hood negotiating with the Big Bad Wolf over what’s for breakfast.  FFIs have therefore approached their respective governments and asked for help. A growing number of those governments have prostrated themselves before the IRS, offering to collect the information the IRS demands from their country’s banks and giving it to the IRS on a silver platter.  Around 15 countries so far have signed up for this type of agreement with the IRS.  And, believe it or not, that’s the good news for U.S. persons. Here’s why.”

http://www.nestmann.com/finally-some-good-news-about-fatca

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Real Reason for the US’s Global Tax Levy

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“This amped-up regulatory regime is not about taxes. It’s about control … not just of Swiss banking facilities but ultimately of banks around the world, large and small. In fact, the top elites already run central banks around the world, so this merely adds another layer of control. And when it comes to running banks, the place where banks supposedly had the most freedom was Switzerland, so that region was attacked first – just to provide an object lesson.  The elites do not care how many banks they ‘kill’ – especially smaller banks that can often prove troublesome. The modern State is more comfortable with a few large and concentrated facilities than myriad small ones.”

http://www.thedailybell.com/news-analysis/34818/Real-Reason-for-the-USs-Global-Tax-Levy/

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