London Mayor to Pay 'Six-Figure' American Tax Bill Boris Johnson has finally agreed to pay a huge tax bill to the US government ahead of his visit to America, despite previously insisting he would not bow to the “absolutely outrageous" demand.
The London mayor, who was born in New York and holds a US as well as a British passport, has said he will pay the unsettled capital gains tax bill, thought to be in the region of £100,000.
His decision will ensure that his visit to Boston, New York and Washington ... (more)
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Peter Schiff: Swiss Surrender Wins Currency WarBy ending its three year currency peg to the weakening euro Switzerland has become the first major economy to surrender in the international currency war, and in so doing has given a long-delayed victory to the Swiss people. Contrary to the indignant reaction by the media and financial establishment, the decision is not a disaster for Switzerland. A continuance of an open-ended peg to the euro could have ultimately ruined the country. Its surprise move, perhaps prompted by the European Central B... (more) Schiff Podcast on the move... |
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What In The World Just Happened In Switzerland?Central banks lie. That is what they do. Not too long ago, the Swiss National Bank promised that it would defend the euro/Swiss franc currency peg with the “utmost determination”. But on Thursday, the central bank shocked the financial world by abruptly abandoning it. More than three years ago, the Swiss National Bank announced that it would not allow the Swiss franc to fall below 1.20 to the euro, and it has spent a mountain of money defending that peg. ... (more)
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Puerto Rico Dumps Traffic Cameras, Orders RefundsThe public in Puerto Rico complained so loudly about the photo enforcement program that the territory's government listened. Red light cameras went up at three intersections in October dealing out $250 tickets for making rolling right turns, speeding or having a recently expired vehicle registration. On Thursday, Governor Alejandro Garcia Padilla (D) had his transportation department refund every ticket issued.
"Since this was a pilot project, as we've always said, it was subject... (more)
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There's No Such Thing as an Unregulated MarketA big economic problem the world faces is semantic. That is, “regulation” has come to mean “government regulation.” We don’t seem to be aware of the alternative: regulation by market forces. That’s a problem because it leads us to accept so much government meddling that we would be better off without.
We want the aims of regulation — regularity and predictability in markets, decent quality and reasonable prices for the goods and services ... (more)
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Bitcoin Jesus Denied Entry To U.S. After Renouncing CitizenshipRoger Ver is a virtual currency millionaire who has been dubbed the Bitcoin Jesus because of his avid advocacy of the blockchain money, which includes his seeding many businesses that use it. Last year, the libertarian-anarchist became a citizen of the Caribbean nation of St. Kitts and Nevis and renounced his American citizenship. Ver may be a bellwether of how the US plans to treat those who renounce their citizenship or who are otherwise inconvenient expats.
A frequent speaker ... (more)
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Oil Falls Below 50 As Global Financial Markets Begin To UnravelOn Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points. Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece. These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015. Just... (more)
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Receive an Obamacare Subsidy? Surprise! You May Owe Money to the IRSRemember those Obamacare subsidies, the ones that were supposed to make healthcare “affordable” for Americans?
6.8 MILLION people received those subsidies under the ACA in 2014.
A nasty surprise is in store for about half of those people – an estimated 3.4 million... (more)
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11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The GlobeWill 2015 be a year of financial crashes, economic chaos and the start of the next great worldwide depression? Over the past couple of years, we have all watched as global financial bubbles have gotten larger and larger. Despite predictions that they could burst at any time, they have just continued to expand. But just like we witnessed in 2001 and 2008, all financial bubbles come to an end at some point, and when they do implode the pain can be extreme. Personally, I am ... (more)
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Total National Security Spending Is Much Greater than the Pentagon's Base BudgetIn a recent publication of the Mercatus Center at George Mason University, "Defense Spending Extends Beyond the Pentagon's Budget," Veronique de Rugy presents a valuable compilation of data for fiscal year 2013, showing how much of the government's national security spending appears not in the base budget of the Department of Defense, but elsewhere in the government's budget. This point is important be... (more)
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Marc Faber: Expect Surprises in 2015
Dec. 29 -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks about global financial markets, oil and investment strategy.
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