Category Archives: Essays

FATCA, GATCA and the Changing Investment Scene, Worldwide

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“GATCA is going to destroy financial privacy, which was pretty much destroyed in the first place. So taking your savings offshore in the form of financial accounts is going to offer you no privacy benefits. If your plan depends on privacy, you should get a new plan. That said, there are other concrete reasons to diversify internationally. As I mentioned before, offshore banks are often much safer and better capitalized than most banks in the US. Additionally, a foreign bank account cannot be seized or frozen at the drop of a hat by the US government, which would be especially useful if official capital controls are put in place.”

http://www.thedailybell.com/exclusive-interviews/35393/Anthony-Wile-Nick-Giambruno-on-FATCA-GATCA-and-the-Changing-Investment-Scene-Worldwide/

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No Containment in U.S. Health Costs

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“One potential cause for the spike in health care spending was the influx of insured patients due to the rollout of health care exchanges under the Affordable Care Act (ACA). Of those who enrolled through the exchanges, 6.7 million were eligible for Medicaid coverage. Many of them would be receiving care through managed Medicaid programs, which are typically operated by private insurers under contract through the states. That could create a significant spike in spending since most of the insurers operating those plans are paid per patient, per month, regardless of whether or not the patient is actually seen by a health care provider.”

http://www.investingdaily.com/20524/no-containment-in-health-costs-2/

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Strategies Overseas Retirees Need to Handle a Multi Currency Lifestyle

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“Americans who move overseas often lose money or have problems with the tax authorities because they live a multi-currency lifestyle. In this 19 minute webinar, hear international money expert Douglas Goldstein, CFP® summarize the strategies that every American needs to know who is planning to move abroad, or has already moved overseas. In this program, find out: (a) The 3 Reasons Currency Traders Get it Wrong… and The #1 Thing Clients Need to Understand About Currency, (b) What Everybody Ought to Know About Transferring Money (money changers vs. banks vs. cash), and (c) The Tax Form Which is Hitting U.S. Expats Hard.”

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The Great Deception, Part II

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“In each of these cases, brokerages made millions. The analysts made millions. The companies they promoted raked in millions. But investors lost their shirts.  Not one major firm on Wall Street tied its analysts’ compensation to their actual track record in picking stocks. Analysts could be wrong once, wrong twice, wrong a hundred times, and they’d still earn huge bonuses, as long as they continued to recommend the shares and as long as there were still enough investors who continued to buy into the hype. The current cycle of complacency does not favor investor vigilance — let alone Wall Street transparency.  Quite to the contrary, it’s the perfect climate for more scams and deceptions.”

http://www.moneyandmarkets.com/the-great-deception-part-ii-61958

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Swiss Freeports and the Invincible Tax Evader

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“Freeports have an impressive history. They arose from the legal exemption that items ‘in transit’ receive from taxes and tariffs. It was expected that this exemption would only be temporary as shipped goods transferred between planes or were temporarily stored while awaiting shipment to their final destinations. But investors quickly realized another, more profitable use for them. Because there was no limit on how long something could be ‘in transit,’ freeports offered an innovative solution for avoiding taxes and tariffs on high-value assets.  This system allows stored assets to appreciate in value, and it also allows for tax-free sales.  Demand for space has surged to unprecedented levels.”

http://www.fee.org/the_freeman/detail/swiss-freeports-and-the-invincible-tax-evader

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Bill Bonner: What Do Bond Investors Know That Stock Investors Don’t?

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“Your Rogue Economist entered the labor force when he was 14.  Thereafter, he was either in school or at work. He worked as an usher, a dishwasher, a carpenter’s helper, a mason, a painter, a truck driver, a teacher. It never took more than a day or two to find a job.  Times have changed. Now, it’s much harder to get on the bottom rung.  And according to the Financial Times, things aren’t much better for those on the economic ladder. If they are lucky enough to get a foothold… and eventually climb their way into the middle class… they will earn, on average, about as much as a middle-class wage earner a half a century ago!  How’s that for something to look forward to?”

http://www.bonnerandpartners.com/what-do-bond-investors-know-that-stock-investors-dont/

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The All-Seeing Eye

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“We are only now coming to understand just how much power the federal government has to peer into our personal lives.  This ‘architecture of oppression’ might not seem terribly threatening to those of us sitting comfortably in suburbia watching Netflix original series. But as the State changes the definition of a domestic terrorist by shades, and as it ratchets up the levels of taxation, regulation, and control by degrees, more and more people will come to be thought of as enemies of that apparatus.  As the State becomes more powerful and more controlling, more people will have more and more things to hide.”

http://www.fee.org/the_freeman/detail/the-all-seeing-eye

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The US and China: A Difference in Approaches

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“The threat from the US sheriff is very real.  But presumably, this bullying approach would be less effective if attempted against one of the world’s more powerful countries. If, for example, the US were to find itself in a situation such as the present one with China, in which the US appeared to be losing its battle over the dollar’s power as the world’s reserve currency, what would occur? Would the US sheriff attempt to bully China? And if the ploy did not succeed, would the US draw its six-guns and fire off a few rounds in the air for emphasis?  And if the above were to take place, what would the Chinese reaction be?”

http://www.internationalman.com/articles/the-us-and-china-a-difference-in-approaches

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The Bogus “97% of Climate Scientists Agree” Claim

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“There’s a bait-and-switch occurring here. As Friedman spells out, all you need to do is actually look at Cook et al.’s own tables in their paper to see that others (including Cook himself in a subsequent paper!) are misrepresenting their findings. Only 1.6% of the surveyed abstracts clearly say that humans are the main cause of global warming. The 97.1% figure includes papers that merely claim that some amount of warming can be attributed to human activities. Many of the prominent scientists associated with the ‘denier’ label–such as Richard Lindzen, Roy Spencer, Pat Michaels, and Chip Knappenberger (whom I feature here a lot)–would fit into this ‘consensus.'”

http://consultingbyrpm.com/blog/2014/05/the-bogus-97-of-climate-scientists-agree-claim.html

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Top 10 tips to learn a language

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“Matthew Youlden speaks nine languages fluently and understands more than a dozen more. We work in the same office in Berlin, so I constantly hear him using his skills, switching from language to language like a chameleon changing colors. In fact, for the longest time I didn’t even know he was British.  When I told Matthew how I’ve been struggling to merely pick up a second language, he had the following advice for me. If you believe that you can never become bilingual, take note!”

http://www.babbel.com/magazine/10-tips-from-an-expert

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