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September 25, 2014 Sovereign Valley Farm, Chile It was only 18-months ago that one of the brokest banking systems in the world became the first modern example of financial cannibalism. I’m sure you remember how it all went down in Cyprus last year… but I’ll review it anyhow because it just never gets
September 17, 2014 Talca, Chile [Editor’s Note: This is the first in a multi-part series on some of the top Startup ecosystems in the world] When Chris D. came up with a great idea for his startup he was already thinking outside the box. But his innovation didn’t stop there. His thought process
September 4, 2014 Santiago, Chile If you’re looking around right now for a new bank account that pays a reasonable rate of return, ANZ bank has a hell of a deal for you: 0%! That’s right. ANZ is offering its depositors absolutely zero interest. Now, a bank paying 0% isn’t exactly abnormal in
September 2, 2014 En route to South America As the world’s top central bankers gathered at their annual jamboree recently, the governor of Bank of Canada, Stephen Poloz, undoubtedly received envious comments from his fellow money magicians for Canada’s perceived status as a global financial safe haven. This newly found perception was perhaps
July 24, 2014 Barcelona, Spain Ten dark suited men entered the premises of FBME bank in Cyprus on Friday afternoon and took it hostage. It must have looked like a scene from the Matrix. And given the surrealism of how this conflict is escalating, maybe it was. The men were from the Central
July 10, 2014 En route to Batumi, Georgia Earlier this summer, IMF bureaucrats went to Sofia, Bulgaria to study the country’s economic progress. And roughly a month ago, they released an official report which stated, among other things, that Bulgarian banks are “stable and liquid.” Talk about epic timing. Because less than two
June 2, 2014 Buenos Aires, Argentina From the days of the Soviet Union, there’s a great story about a shoe factory that was under pressure by the political bosses to increase production. The factory, however, didn’t have sufficient materials to meet the quota. Fearful of the consequences, they decided to increase their production
May 28, 2014 Santiago, Chile Iran and Viet Nam recently put their fraudulent banksters to death. Even in Iceland, they put their banksters in jail. How about in the Land of the Free? Has any banker ended up in jail? Actually, yes. More than you’d think. Meet Christy Romero, SIGTARP. It’s a catchy
March 26, 2014 Sovereign Valley Farm, Chile Bitcoin tax rules finally came to the Land of the Free yesterday. And I have to imagine there are some not-too-happy campers this morning, if they even know about it. Bitcoin taxes were inevitable. I’ve written about this numerous times, and have even gone so far
January 8, 2014 Sovereign Valley Farm, Chile The “Ig Nobel Prize” is parody of the Noble Prize that is awarded every year for the most trivial scientific achievement. (‘ig’ is short for ‘ignoble’) For example, the 2007 recipient for the ‘Ig Nobel Peace Prize’ went to the United States Air Force Wright Lab
November 22, 2013 Dallas, Texas In George Orwell’s seminal work 1984, there’s a really great scene early in the book between Winston (the main character) and Syme, a low-level functionary at the Ministry of Truth. Syme is working on the 11th Edition of the Newspeak Dictionary, and he explains to Winston how the
November 16, 2013 Bangkok, Thailand Thailand is known for a lot of things– quintessential white sandy beaches, hard partying nightlife, quiet Buddhist reverence… But what a lot of people don’t realize is that Bangkok is probably one of the most important cities in the world when it comes to illegal trafficking. Human trafficking.
November 13, 2013 Singapore By the early 4th century AD, the Roman Empire was suffering tremendous turmoil, including plague, barbarian invasions, deep recession, civil wars, coups, etc. Much of this had been brought on by Rome’s utterly dismal economic condition. The government simply did not have enough money to sustain its operations, let
November 4, 2013 Bangkok, Thailand The other day, a friend of mine in Chile went to the bank to apply for a car loan. She has her eye on a new car for about $22,000. The bank in Chile wants her to put down about $6,000, and then finance the remaining $16,000. But
October 17, 2013 Santiago, Chile “How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” The dialogue above is from Ernest Hemingway’s 1926 novel, The Sun Also Rises. It’s often attributed to Mark Twain or F. Scott Fitzgerald, or misquoted as something like “At first you go bankrupt
