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September 4, 2013 Singapore Several weeks ago, I received some disturbing news from some of my closest advisers (all professional tax attorneys) regarding IRAs. They told me that suddenly, practically overnight, many IRS employees at the agency’s call center who assign tax ID numbers were refusing to issue a federal tax ID for
September 3, 2013 Singapore A few months ago, the Monetary Authority of Singapore (MAS), the country’s central bank, released its annual report for the fiscal year ending 31 March 2013. And the results were ‘shocking’, at least for those of us who read central bank annual reports cover to cover like a Harry
September 2, 2013 En route to Singapore After two months of criss-crossing Europe on somewhat of a bankrupt nations tour, the chilly autumn weather that has settled upon much of the continent is my cue to beat feet out of here for the steamy, humid energy of Southeast Asia. So I’m presently sitting
August 29, 2013 Rome, Italy As everyone is now completely distracted with the looming prospect of yet another illegal war to be waged by the 2009 Nobel Peace Prize recipient, let’s look at a few other things going on while no one is looking. Gun control Today, the Obama administration announced fresh measures
August 28, 2013 Spoleto, Italy There’s a common expression that military commanders like to use in times like this– ‘you can’t be a little bit pregnant.’ Translation: you either go to war, or you don’t. You can’t halfway go to war. You can’t ‘sort of’ go to war. And if you do, it’d
August 26, 2013 Spoleto, Italy The Villa where I’ve been staying for the last week is one of my favorite spots in the world. When I first found it nearly two years ago, I couldn’t believe it. The home is exquisite– it’s a 14-bedroom chateau situated on 25 acres of wine grapes and
August 22, 2013 Spoleto, Italy One of the really great things about being in Italy is that this whole country serves as a constant reminder that wealth and power in the world are constantly shifting. Two thousand years ago, Italy (Rome specifically) was the pinnacle of civilization, at the forefront of medicine, art,
August 21, 2013 Spoleto, Italy Each summer, I’ve taken to renting a beautiful wine and olive estate in the Italian countryside and inviting some of the most interesting people I know for a week of lively discussion and debate. It’s an annual ritual I’ve recently adopted; there’s no format, just a gathering of
August 20, 2013 Rome, Italy It was just last week in the Land of the Free that a Federal judge declared Bitcoin to be a currency. And almost immediately after, the SEC announced ‘investigations’ into the digital currency. (You remember the SEC, the guys who are tasked with protecting the public from dodgy
On August 19th, 43 BC, 2056 years ago to the day, a twenty year old soldier born Gaius Octavius Thurinus assumed control of the most powerful civilization on the planet. Standing in front of his Army that he had just marched into Rome, Gaius forced the Senate to ‘elect’ him to the highest
Capital controls are the ultimate ‘smoking gun’ to evidence the complete collapse of an insolvent government. Only the most desperate governments have to restrict the free-flow of capital across their borders. And once they hit, you know the endgame is near. Capital controls can take a variety of forms… often as blunt as
August 12, 2013 Makarska, Croatia This one is too ridiculous to not pass along. I’ve long written that desperate governments try to ‘control’ everything as they slide into insolvency. They impose capital controls, exchange controls, wage and price controls, gun controls, border controls, and more. But the government of Argentina has really taken
August 9, 2013 Makarska, Croatia It just never stops. Here on the European continent, the bureaucrats who run the EU have recently proven to the world how much a ‘government guarantee’ is really worth. We’ve been discussing in this column lately how the modern banking system is a total fraud– that dictatorial control
August 8, 2013 Makarska, Croatia A massive 1,131 individuals renounced their US citizenship last quarter, according to data that has yet to be officially released (though I was able to procure an advanced copy). This is a HUGE jump. Compared to the same quarter last year in which 188 people renounced their US
August 7, 2013 Makarska, Croatia I recently received some disturbing news that I felt critical to pass on to you. As we’ve been writing for over four years now, it’s long been a common approach for government sliding into insolvency to confiscate wealth from their own citizens. Charles I of England infamously commandeered