Category Archives: Essays

Terry Coxon on US Dysfunction and the International Trust Solution

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“It has protective power because it conforms to the laws of the jurisdiction you’ve chosen, not the laws of your residence. Also, an International Trust can be perpetual, making it a great vehicle for estate planning. Without the protection of an International Trust, you could lose so much – maybe everything – to an aggressive lawsuit, a willful judge, or a debt-ridden government agency. An International Trust assures your freedom to invest anywhere, no matter what investment restrictions the US might adopt. Currency controls in the US? They can’t touch your International Trust – it’s not in the US. Limitations on capital leaving the country? Your capital already left.”

http://www.thedailybell.com/exclusive-interviews/35228/Anthony-Wile-Terry-Coxon-on-US-Dysfunction-and-the-International-Trust-Solution/

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Getting the Best Rates on Currency Conversions

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“Forex trading platforms allow you to convert and transfer your money for minimal charges and are perhaps the best way to do so.  You may want to consider Interactive Brokers as a forex platform (but do shop for other forex trading platforms in your jurisdiction). You can do all sorts of currency conversion with Interactive Brokers, and it has extremely competitive spreads. For certain currency conversions involving the US dollar, the spread can be smaller than 1 pip (1/10,000th of dollar or 0.01%). Moreover, you can execute limit orders.  These spreads are attractive considering most banks operate at a spread of about 2.5-3%.”

http://www.internationalman.com/articles/getting-the-best-rates-on-currency-conversions

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Penning the Sheep for a Shearing—Capital Controls, Part 1

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“It’s not exactly a secret that the West generally and the US in particular are moving deeper into bankruptcy and are seeking more and more control over all facets of their citizens’ lives. These trends will sooner or later lead to an overt attempt to control the flow of money in some way—just as they have in other countries throughout history that have headed down similar paths.  It’s crucially important to your financial future that you understand what capital controls are, how and why they are implemented, the harm they can cause, and what you can do to protect yourself.  This is because I believe it is a near certainty that the US dollar will lose its role as the world’s premier reserve currency.”

http://www.internationalman.com/articles/penning-the-sheep-for-a-shearing-capital-controls-part-1

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Wendy McElroy: Let a Thousand Home Businesses Bloom

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“Home industry is particularly important to the poor for at least four reasons. First, the business overhead is usually low. Second, it allows people to use their labor as equity to develop a business for which financial or capital equity is not available. Third, it does not require higher education. Fourth, people own the means of production, such as an equipped kitchen or a garage with tools. Home industry also has the advantage of not draining the public purse—that is, production does not draw on government subsidies or privileges, which benefits individuals as producers, taxpayers, and consumers.  But does it benefit governments?”

http://www.fee.org/the_freeman/detail/let-a-thousand-home-businesses-bloom

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Zoning’s Racist Roots Still Bear Fruit

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“Progressivism likes to think of government as defending minorities from discrimination by private enterprise. But time and again, history has shown progressive ideas marching in lockstep with racist motives.  The cities employing racial zoning included many Southern ones: Norfolk, Atlanta, Louisville, Birmingham, and more. But they were not limited to the South: Chicago practiced a form of racial zoning, too. San Francisco and other California cities used it to keep Chinese laundries in their place.  In Richmond, a 1911 zoning ordinance made it illegal to sell a house on a majority-white block to a black person, or a house on a majority-black block to a white person.”

http://reason.com/archives/2014/04/02/zonings-racist-roots-still-bear-fruit

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Taxation and Trading on Foreign Markets

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“Today, tax withheld at source is pretty much a universal practice enforced by foreign governments against interest and dividend income earned by non-resident investors. For example, a Canadian resident who earns a dividend on a security purchased on a German exchange will be subject to withholding tax levied by the German equivalent of the CRA in Canada (or the IRS in the US).  In our example, the Canadian resident will also be required to declare the foreign earned interest and/or dividend income and pay tax to the Canadian government. This places the investor in the inequitable position of two jurisdictions levying tax on the same income.”

http://www.internationalman.com/articles/taxation-and-trading-on-foreign-markets

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Bill Bonner: The Fed’s Childishly Naïve Theory of Credit

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“The $33 trillion spent by Americans over the last four decades or so did not come from savings. Instead, it came out of thin air – from the banking system, which contrary to the common belief that it requires some pre-existing money (in the form of cash deposits or reserves) to make loans, simply creates them out of nothing.  In other words, this credit creation did not represent resources that had been set aside – like seed corn – to prime future growth.  No one ever deprived himself of a single meal, or as much as a single beer, to save the money. No one troubled himself to work even a single hour to earn it. No one toiled or spun.”

http://www.bonnerandpartners.com/the-feds-childishly-naive-theory-of-credit/

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Debt: Destroyer of Lives, Businesses, and Countries

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“Nothing is as destructive as a government drowning in debt. Though the time it takes to play out varies, the narrative is always the same:  1. Government borrows too much;  2.  Government prints money in a desperate attempt to service debt;  3.  Government ultimately prints too much money, destroying its currency and the savings of all its citizens. Unfortunately, it often doesn’t end there. Several of the most horrific atrocities in human history were committed by hopelessly indebted governments.  Meltdown America follows the stories of three regular folks who lived in the wrong country at the wrong time.”

http://www.caseyresearch.com/cdd/debt-destroyer-of-lives-businesses-and-countries

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Larken Rose: What’s So Bad About Nazis?

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“The question is not rhetorical. Too many people are really, really sure that there’s something really bad about being a Nazi, or about being a communist, but they can’t actually say WHAT is so bad, and can’t even define or describe what those philosophies advocate, or why they are so dangerous.”

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The Next Best Thing

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“The Chinese have already forged agreements amongst the BRICS and the ASEAN nations to use the yuan as the currency of trade, with countries such as Australia, New Zealand, and the UK agreeing to trade in the yuan in future.  It may well be that China intends to sew up the world with yuan agreements, with the US as the last man standing, then pull the plug by simply by refusing outright to accept any further US debt of any kind. At that point, the US would be isolated and, in order to trade, would be forced to cave to the yuan as the currency of world trade.  If this were to take place, the remaining question would be whether the dollar would remain as the US currency.”

http://www.internationalman.com/articles/the-next-best-thing

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