Tag Archives: Crisis Begets Opportunity

The End of Tax Havens?

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“One of [the OECD’s] foremost successes has been the Isle of Jersey. By forcing tax equalisation on Jersey, Jersey has had to decide whether to increase taxation for offshore depositors, or decrease taxes for locals. It chose the latter and, as a result, has experienced a shortfall in the government kitty, resulting in layoffs for public service workers, cuts in funding for road repair, sewage services, education, etc. Jersey appears to be on the ropes as a result. In five or ten years’ time, will the only tax havens be in places like Delaware, where the government-sanctioned tax haven follows the ‘bad practices’ that the OECD has called ‘criminal’?”

http://www.internationalman.com/articles/the-end-of-tax-havens

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France Doubles Down On Cash Ban: No Transactions Over 1,000 Euros

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“On September 1st France announced new regulations that ban cash transactions of  1,000 euros. This comes as a surprise since France originally set the threshold at 3,000 euros.  A second measure, which comes into force on 1 st  January 2016 For individuals who perform foreign exchange transactions of their currency against euros. From next year, they will have to provide an ID from 1000 euros. Also as part of the fight against money laundering, banking institutions will, as from 1 st  January 2016, report to Tracfin anyone carrying deposits or withdrawals of cash superiors to 10 000 per month.”

http://thomasdishaw.com/france-doubles-down-on-cash-ban-no-transactions-over-1000-euros/

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Norway’s Biggest Bank Demands Cash Ban

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“Norway – suffering from its own economic collapse as oil revenues crash – has joined its Scandi peers Denmark and Sweden in a call to ‘ban cash.’  Privacy advocates in Norway have expressed worries for years that, without cash, there would be no way for an individual to purchase something without being tracked. In 2014, Finans Norge, a financial industry organization in Norway, said the country was on pace to be a cashless society by 2020, Ice News reported. While DNB said its proposal will take time to complete, executives suggested the country start phasing out cash by discontinuing the 1,000 kroner note so it could focus on updating its banking system.”

http://www.zerohedge.com/news/2016-01-23/norways-biggest-bank-demands-cash-ban

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U.S. bailout places ‘Puerto Rico’s democracy at risk’

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“The U.S. Senate is considering a bill called the Puerto Rico Assistance Act of 2015. It offers minor assistance: a temporary reduction in payroll taxes and a ‘development fund’ of $3 billion.  But the real purpose of this bill is the installation of a six-member Financial Control Authority. That authority, if it gets the chance, will rule over Puerto Rico. Completely. What this legislation contemplates is beyond extraordinary; it is essentially the destruction of whatever semblance of genuine democracy currently rules the island. According to the bill, five members will be appointed by the U.S. President. The sixth will be the Secretary of the U.S. Treasury, who will also serve as Chairman.”

http://www.nydailynews.com/opinion/nelson-denis-puerto-rico-democracy-risk-article-1.2498482

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State of emergency declared as Hollande unveils €2bn job creation plan

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“French President Francois Hollande has warned that his country is in a state of economic emergency and has unveiled a €2b two-year job creation plan. The proposal aims to offer subsidies to small firms in a bid get them to take on more employees.  Speaking at an annual speech to business leaders, Hollande said: ‘Our country has been faced with structural unemployment for two to three decades and this requires that creating jobs becomes our one and only fight.’ He warned that France was facing an ‘uncertain economic climate and persistent unemployment’. France was in a state of economic and social emergency, he said. France’s unemployment rate is 10.6%.”

http://www.ibtimes.co.uk/france-state-economic-emergency-hollande-unveils-2bn-job-creation-plan-1538652

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The National Security State’s Incestuous Relationship with the Islamic State

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“Islamic terrorism remains at the bottom of the barrel in the company of other frightening but rare events like shark attacks. Yet the American national security state has essentially been built and funded to protect you from that danger alone.  Put another way, the officials of that security state have bet the farm on the preeminence of the terrorist ‘threat,’ which has, not so surprisingly, left them eerily reliant on the Islamic State and other such organizations for the perpetuation of their way of life, their career opportunities, their growing powers, and their relative freedom to infringe on basic rights, as well as for that comfortably all-embracing blanket of secrecy that envelops their activities.”

http://www.tomdispatch.com/post/176071/tomgram%3A_engelhardt%2C_the_national_security_state’s_incestuous_relationship_with_the_islamic_state/

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Noninterventionism Is the Only Cure for America’s Foreign Policy Woes

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“After the invasions of Iraq and Afghanistan, interventionists maintained that U.S. troops are over there killing the terrorists before they can come over here and kill us. That notion obviously hasn’t worked out extremely well.  Today Americans are more scared of the terrorists than ever before.  The war on terrorism racket is so ingenious that regardless of what happens, the U.S. national-security state benefits from it. That is, if there were no more terrorist attacks, interventionists would say, ‘We’ve got to stay the course because it’s working.’ But if there were more terrorist attacks, interventionists would say, ‘The danger is bigger than ever. We’ve got to stay the course until we kill them all.'”

http://fff.org/2015/12/15/noninterventionism-cure-americas-foreign-policy-woes/

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The Cost of Terror in Brussels

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“This prolonged state of insecurity has had a negative impact on the economic and social life of the capital. The most overt statistics pertaining to touristic activities, social outings, and public gatherings show a general change in the perception of the city and an overall evolution in the local mood.  The enhanced presence of military personnel in the streets of Brussels as well as the ongoing discourse over the current will of terrorist organisations to target the capital led to a mood change among the local population. The fear of potential attacks is playing as a long-term obstacle to private expenditures, tourism and the participation in major public social events.”

http://globalriskinsights.com/2016/01/the-cost-of-terror-in-brussels/

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EU Unveils Border Control That Will Act “Even If A Government Objects”

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“Brussels is to propose the creation of a standing European border force that could take control of the bloc’s external frontiers — even if a government objected.  The move would arguably represent the biggest transfer of sovereignty since the creation of the single currency. The blueprint represents a last-ditch attempt to save the Schengen passport-free travel zone, by introducing the kind of common border policing repeatedly demanded by Paris and Berlin. European leaders have discussed a common border force for more than 15 years, but always struggled to overcome deep-seated objections to yielding national powers to monitor or enforce borders.”

http://www.zerohedge.com/news/2015-12-10/ft-shocker-eu-unveils-standing-border-force-will-act-even-if-government-objects

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With Permanent Squad, New York Police Step Up Fight on Terrorism

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“With the new unit, Chief Waters’s bureau has ballooned this year in size and in equipment, with new cars fitted to hold Colt M4 semiautomatic assault rifles. He said the attacks last week had accelerated the pace of procuring equipment and training officers in counterterrorism tactics, including courses that include undercover ‘hostile surveillance’ to detect those who might be gathering information about potential targets, and the use of new devices. In addition to the Critical Response Command, the department recently created a citywide unit of roughly 700 patrol officers — the Strategic Response Group — who are also trained to use and are outfitted with semiautomatic rifles.”

http://www.nytimes.com/2015/11/21/nyregion/new-york-police-form-counterterrorism-force-with-more-firepower-and-training.html

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