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1,426. That’s the number of Americans who renounced their US citizenship last quarter according to the US government’s report just released this morning. That’s a record high for a single quarter, easily beating the last record high set earlier this year, which beat the previous record high set in 2013.
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] In Tobe Hooper’s 1982 horror film ‘Poltergeist’, strange things start happening in the Freeling household. Unbeknownst to its occupants, the house is built on ancient Indian burial ground. The TV set comes to life; glasses of milk
I’m in New Haven today to attend the funeral of Irwin Schiff, who unfortunately passed away last weekend. If you’ve never heard of Irwin, he was one of the original “tax protestors”. He believed not only that paying federal income was unconstitutional, but actually went so far as to stop
One of the more unfortunate developments in human civilization over the last century is the devolution of money. In fact, the word ‘money’ has now become synonymous with those funny pieces of paper that are conjured out of thin air by unelected central bankers. Or even more ridiculous, ‘money’ has
I have a pretty bad travel habit of always waiting until the last minute to head to the airport. Some people like to get to the airport three hours early. I’m not one of those people. In fact, when I flew to Bogota a few weeks ago from Santiago, I
Last week Credit Suisse released its annual Global Wealth Report. The big headline grabber was their analysis showing that the top 1% of people now own 50% of the world’s wealth. That is true and rather astonishing. However, the report had another finding that was even more astonishing and largely
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] As investors we are all suckers for narrative. The current narrative appears to be: China is slowing down, so the sky is falling in. Everybody in the West used to be concerned that China was taking over
When I was a kid, I used to proudly wear around a T-shirt explaining different economic systems using ‘two cows’ as a metaphor. It started off like this: Socialism: You have two cows. Give one to your neighbor. Then Communism: You have two cows. The government takes both and gives
The Road to Ruin, as they say, is paved with good intentions. So I suppose the road to hell is paved in the best of intentions. And that’s how most laws often start: with the BEST of intentions. That was certainly the case when Barack Obama signed the HIRE Act into
When I was a kid growing up in the early 80s, the United States was the undisputed dominant superpower in the world. The US dollar was awe-inspiring; on a trade-weighted basis, the dollar index was at an all-time high, and had never been as strong ever before… or since. And
[Editor’s note: This letter was written by Tim Price, London-based wealth manager and editor of Price Value International.] Those whom the gods wish to destroy they first pay too much. How else to account for the astonishing $200 million lawsuit filed last week by billionaire bond investor Bill Gross against
In 49 BC, a defiant Julius Caesar stood in front of his army at the River Rubicon and made the biggest decision of his life. It was strictly forbidden by Roman law for a general lead his army out of its province and into Rome. And the Rubicon marked the
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