A remarkable new law passed last year in Puerto Rico reportedly exempts U.S. citizens who choose to become residents of the territory from a multitude of taxes. Bloomberg reports John Paulson, the hedge fund manager who made $3.7 billion shorting sub prime mortgages in 2007 before their crash, is possibly looking at moving there, and many wealthy individuals involved in internet, software, and financial companies are looking at taking advantage of the new law.
Jim Rogers decries the growing uncertainty and recklessness of global central planners as the world enters unchartered financial markets:
For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don't know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is go
The stock market's run will result in either a 20 percent correction or a more nasty sell off at some point this year, Marc Faber, publisher of the Gloom Boom and Doom report, told CNBC's "Closing Bell" on Thursday.
Faber pointed out that it's been almost exactly four years since the stock market bottomed out. "We're up very substantially, I think invest... (more)
The European Commission has fined Microsoft $732 million for failing to give options on the opening Windows screen for downloading other browsers. This proves that consumers are smarter than governments. After all, most consumers have figured out on their own that they have other options to Internet Explorer. Chrome is the number one browser in the markets today, IE is second,... (more)
One computer expert working alone has built a historic newspaper site (http://fultonhistory.com) that's orders of magnitude bigger and more popular than one created by a federal bureaucracy with millions of dollars to sp... (more)
Testifying before the US Senate this past Tuesday, Fed Chairman Ben Bernanke made an extraordinary claim about its bloated balance sheet: "We could exit without ever selling by letting it run off." What Bernanke means here is that the Fed could simply hold its Treasuries and agency bonds until they mature, at which point the government would then be forced to pay the Fed back the principal amount. Through this process, the Fed's unprecedented and inflationary position will be gradually ... (more)
During his testimony before Congress this week, Federal Reserve Chairman Bernanke made it a priority to dampen the growing concern that the unprecedented growth of the Fed's balance sheet presents great risks to the economy. There has been a heightened sense even among normally complacent members of Congress that the Fed could spark a precipitous decline in the economy and the financial markets if and when it seeks to "withdraw liquidity" by selling even a minor portion of its bond portfolio (wh... (more)
Did you pay sales tax on the last item you bought on the Internet? Unless it was from Amazon, you probably did not. You may soon though if a gaggle of U.S. lawmakers working hand-in-hand with big business get their way.
And if you're an online retailer, you may have to collect and remit sales taxes for all fifty states no matter where your online business resides. But don't worry, lawmakers want to force all states to adopt the same standard for sales taxes, thus making it easier... (more)
An epic debate about the creation and preservation of wealth featuring Rick Rule, Peter Schiff, John Mauldin and Grant Williams. The highlight is a classic faceoff between Peter Schiff and John Mauldin that takes place around 7:30 in and goes on for several minutes and really heats up at 9:30.
The debate took place February 24, 2013 at Cambridge House's ... (more)
As the US economy continues to struggle, Wall Street is recovering quite nicely. Back in 2008 the markets crashed and taxpayers were used to prop up the private financial sector. But according to the numbers, 2012 has become the second best year for profits for many key financial institutions. Many are now wondering if the banks should be forced to pay back the tax pay... (more)
The stock market has "peaked out" and bonds may be on their way to a rebound, Marc Faber, publisher of the Gloom, Boom & Doom Report, said Thursday on CNBC.
"I think we have made an intermediate top, and it could be a longer-term top," he said on "Fast Money."
"I don't think the market is as overbought as it was in '87, so I don't expect a... (more)
