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Steve Kroft has a problem with second passports. Specifically, the reporter and his team of producers slammed “Citizenship By Investment” programs in an editorial piece that aired on 60 Minutes this past Sunday night. As we’ve discussed before, many countries around the world, including Malta, Dominica, St. Kitts, and Antigua, have Citizenship By
According to the latest statement issued yesterday afternoon by the Department of Treasury, the US national debt has reached $19,976,826,951,047.80. That’s $19.976 trillion, as of the close of business on Friday December 30, 2016. (The government is typically a day or two behind when it sends out these reports.) That number itself is
It’s amazing what can happen in a week. Before this publication went on hiatus last week, one of the last letters I wrote to you in 2016 was about the National Defense Authorization Act and its treasure trove of freedom-killing provisions. Section 1287, for example, creates a new agency called the “Global Engagement
In the late 1400s, the city-states of Italy were among most dominant powers in the world. Most of the city-states had abandoned the feudal system that persisted across Europe. So Italy was one of the only places on the continent where anyone, including foreigners, could work hard, take risks, and become wealthy. People
Around the time of Passover in 67 AD, the Jews of Judea were in the midst of a major rebellion against the occupying Roman Empire. Riots and violence were commonplace, and an organized rebel force of more than 25,000 men fought regularly against the imperial legions. But a small group of zealots decided
One of the quirks about being an expat in a faraway land is that, whenever something unusual happens in your home country, your local friends look to YOU for answers. You become, by default, the de facto expert of your home country’s nuances. Case in point: this weekend we had an intercompany Christmas
On January 17, 1917, as the Great War raged in Europe, the government of the United States signed a deal to purchase the Virgin Islands from Denmark. The agreement transferred Denmark’s territories in the West Indies, “including the islands of Saint Thomas, Saint John and Saint Croix together with the adjacent islands and
If there’s one thing that’s certain in the intelligence business, it’s that there’s rarely any certainty. That’s pretty much the first thing they teach you at spy school. Back in the early days of my intelligence career, I had one instructor who explained it in a way that I’ll never forget. “If you
One of the best books I’ve ever read is the autobiography of Charlie Chaplin. That’s probably not what you were expecting. But it’s true. Chaplin’s book is a remarkable story of his impoverished childhood in England, subsequent migration to America, and rise to wealth and worldwide stardom. Chaplin lived the textbook American Dream.
In Venezuela, hyperinflation has become so pitiful that shopkeepers are no longer bothering to actually count money. Instead, they’re weighing it… … as in literally pulling out a scale and weighing giant stacks of money. Do you want to buy a bottle of Coca Cola? That’ll be 1 kilo of currency please. One
In 524 BC, a group of pirates set sail for Sifnos, an ancient Greek island famed for its vast gold and silver mines. The mines of Sifnos were unparalleled in the ancient world. They produced so much gold and silver that the local government at Sifnos could erect countless monuments, invest in new
The latest apocalypse du jour, following in the footsteps of Brexit and the Donald Trump election, is Italy’s Constitutional referendum that takes place this weekend. Global financial media is in a panic about this, suggesting that a “NO” vote will lead to total chaos in Europe. The referendum itself isn’t particularly revolutionary; Italians
It’s happening faster than we could have ever imagined. Every time we turn around, it seems, there’s another major assault in the War on Cash. India is the most notable recent example– the embarrassing debacle a few weeks ago in which the government, overnight, “demonetized” its two largest denominations of cash, leaving an
In late January of the year 98 AD, after decades of turmoil, instability, inflation, and war, Romans welcomed a prominent solider named Trajan as their new Emperor. Prior to Trajan, Romans had suffered immeasurably, from the madness of Nero to the ruthless autocracy of Domitian, to the chaos of 68-69 AD when, in
My friend Richard got destroyed by the system. As a financial advisor in Sacramento, California, he spent years building a thriving firm and has even landed a few celebrity clients. Richard did well for himself. Successful. Married. Wonderful kids. Financially secure. But back in 2008 things started to turn sour. His wife left
