China seizes $14.5 billion from family, associates of ex-security chief

“Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades, two sources said.  More than 300 of Zhou’s relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months, the sources, who have been briefed on the investigation, told Reuters.  It may be driven partly by political payback after Zhou angered leaders such as Xi by opposing the ouster of former high-flying politician Bo Xilai, who was jailed for life in September for corruption and abuse of power.”

http://www.reuters.com/article/2014/03/30/us-china-corruption-zhou-idUSBREA2T02S20140330

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Google facing $5 billion antitrust fine in India

“Google may be in the midst of securing a deal on its long-running search dispute with the European Union, but it’s still facing a possible $US5bn (£3bn) fine from the Competition Commission of India (CCI) over allegations it has abused its market leading position in the internet search space.  Local laws state that the CCI can impose a fine of up to 10 per cent of annual turnover, which is calculated as an average over three years. The CCI also has the power to order a company found to be too dominant to be broken down into smaller businesses.  There’s apparently no settlement process for antitrust cases brought before the CCI and complaints can’t be withdrawn.”

http://www.theregister.co.uk/2014/03/10/cci_antitrust_google_india_5_billion_dollars/

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Gov’t takes nearly half of California couple’s $10M backyard gold find

“One couple’s gold find could mean a jackpot for the IRS.  The Northern California couple that found $10 million worth of rare, mint-condition gold coins buried in the shadow of an old tree on their property will likely owe about half the find’s value whether they sell the gold or not.  The San Francisco Chronicle reports that the find is a taxable event under a 1969 federal court ruling that held a ‘treasure trove’ is taxable the year it was discovered. The report says after all is said and done, about 47 percent will go to state and federal tax, or the top tax rate.  Nearly all of the 1,427 coins that were found, dating from 1847 to 1894, were in uncirculated, mint condition.”

http://www.foxnews.com/us/2014/02/27/california-couple-in-10m-gold-find-to-owe-govt-about-half-report-says/

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$250,000 stuffed in pantyhose…and other IRS evasion tricks

“Bankers helping customers buy gold bars to store in Swiss bank safes. A wealthy customer who traveled on flights hiding $250,000 in pantyhose to stash in Swiss accounts.  U.S. prosecutors say they have evidence like this to support their case that bankers at Credit Suisse Group helped U.S. customers evade taxes on at least $4 billion in hidden assets.  People familiar with the talks say Credit Suisse has discussed a settlement of about $800 million.  But some U.S. officials are pushing for a tougher line. Eight Credit Suisse bankers have been charged, and all remain at large, believed to be in Switzerland.  In all, 14 Swiss banks are under criminal investigation.”

http://money.cnn.com/2014/02/20/news/credit-suisse-tax-evasion.cnnw/

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Google ‘Donates’ Millions For San Francisco Kids’ City Bus Fares

“San Francisco Mayor Ed Lee announced Thursday that Google has donated almost $7 million to the city so that low-income children can have free rides on city buses for two years. The move comes as the Mountain View, Calif.-based tech giant’s luxury buses have become a symbol of stratification in the Bay Area.  Lee’s office touted the $6.8 million gift as ‘one of the largest private contributions towards direct City services in San Francisco history.’ San Francisco Board of Supervisors President David Chiu said ‘it’s good to see Google support the next generation of Muni riders.'”

http://nation.time.com/2014/02/27/google-bus-controversy-san-francisco-donation-youth-city-buses/

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Italy Imposes 20% Tax Withholding On All Inbound Money Transfers

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“In the latest example that Europe is increasingly formalizing a regime of implicit capital controls, we learn that Italy has just ordered banks to withhold a 20% tax on all inbound wire transfers: a decree which on to of everything will apply retroactively to February 1. As Il Sole reports, the deductions will be automatic (unless prior request for exclusion), and then it will be up to the taxpayer to prove that the money is not in the nature of compensation ‘income.’ In other words, as of this moment, but really starting two weeks ago, all Italians are money launderers unless proven innocent.”

http://www.zerohedge.com/news/2014-02-16/money-launderer-until-proven-innocent-italy-imposes-20-tax-withholding-all-inbound-m

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Jim Rogers and Ron Paul on IRA Confiscation

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Your Stocks and Bonds Are No Longer Your Property

“Your stocks and bonds are not safe anymore… and haven’t been for the last decade. If your broker goes broke, there’s a chance you’ll be left holding the bag. Discover the ugly truth – and how to protect yourself.   If you have a 401(k), IRA, or brokerage account of any kind, you must read(In)Securities: Why Your Stocks and Bonds are No Longer Your Property to protect yourself.”

http://www.caseyresearch.com/special-reports/your-stocks-and-bonds-are-no-longer-your-property

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EU sees personal savings used to plug long-term financing gap

“The savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.  ‘The economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment,’ said the document, seen by Reuters.  The Commission will ask the bloc’s insurance watchdog in the second half of this year for advice on a possible draft law ‘to mobilize more personal pension savings for long-term financing’, the document said.”

http://www.reuters.com/article/2014/02/12/us-eu-banks-savings-idUSBREA1B1ZI20140212

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Twin gets life for killing man to steal his Magic cards worth $100K

“William Cormier III, a Florida man, was convicted of first-degree murder Thursday and sentenced to life in prison without parole for beating a former Pensacola newspaper reporter to death with a hammer and burying his body in a concrete-covered pit so he could steal a collection of fantasy role-playing cards worth $100,000.  In the case, prosecutor Bridgette Jernsen said Cormier was so desperate for money that he sold Sean Dugas’ cards to pay for the plastic storage container that became his concrete-encased coffin.  Prosecutors said he stole Dugas’ valuable collection of cards for the game ‘Magic: The Gathering.'”

http://www.cbsnews.com/news/twin-convicted-of-killing-man-over-fantasy-cards-worth-100k/

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