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If you’ve been a reader of this letter for any length of time, you know I hate taxes. I unequivocally believe that I have a moral obligation to reduce my taxes to the lowest level possible. It’s not about Maseratis and private yachts (I drive a Volvo and get seasick easily). I’ve slashed
[Editor’s note: Tim Price, London-based wealth manager and frequent Sovereign Man contributor, is filling in while Simon travels to Puerto Rico today.] As Mark Twain is purported to have once said, “Predictions are hard, especially about the future.” And with this principle in mind, libertarian Harry Browne advocated a four-factor portfolio to protect
One of the members of Team Sovereign Man just arrived for the first time in his life to the United States. This is pretty unusual, especially for the incredibly well-traveled members of our team. Peter, an Australian in his mid-40s who has been living in Asia for most of his adult life, is
Earlier this week the German government leaked a frightening 69-page memo entitled “Concept for Civil Defense.” Citing multiple terrorist attacks, cybercrime, and a host of other threats, the report states that Germans should prepare for an event that could “threaten our existence.” Yikes. The report proposes a number of mandatory countermeasures, including that
That was fast. Yesterday I told you how a consortium of 15 Japanese banks had just signed up to implement new financial technology to clear and settle international financial transactions. This is a huge step. Right now, most international financial transactions must pass through the US banking system’s network of correspondent accounts. This
In July 1944, just weeks after the successful Allied invasion of Normandy, hundreds of delegates from around the world gathered in Bretton Woods, New Hampshire to determine the future of the global financial system. The vision was simple: America would be the center of the universe, and every other nation would revolve around
Yesterday the Federal Reserve released the minutes from its July meeting a few weeks ago in which they decided to NOT raise interest rates. These minutes are the official archive of the meeting, providing details about the presentations, debates, and discussions that took place. They contain very formal sounding language, referring to their
It started in 1946. American Airlines, then the largest airline in the United States (and second largest airline in the world after the Soviet Union’s Aeroflot) created a bold, new technology to book flight reservations. They called it the “electromechanical reservisor”, and it was the first machine of its kind. Before the reservisor,
On Friday morning, a gentleman named Thomas Hoenig wrote some rather unflattering comments about the US banking system in a little known publication called the Wall Street Journal. In his remarks, Hoenig stated that “while the largest U.S. banks have increased capital since the [2008] crisis, their capital is still lower than the
The year was 1986. Top Gun was the #1 movie in America. Halley’s Comet was visible with the naked eye. Microsoft went public, instantly making Bill Gates one of the wealthiest people in the world. And the US government took in $93.7 million through a little known authority called “Civil Asset Forfeiture”. As
Long ago in the Land of the Free, if you wanted to start a saloon, you rented a space and started serving booze. You didn’t have to go through years of petitioning a bunch of bureaucrats for permits and licenses. If you weren’t qualified or good enough at your job, your reputation would
It started with an illegal wiretapping scandal. Jean-Claude Junker, after spending nearly 18 years in office as Prime Minister of Luxembourg, was forced to resign in 2013 after evidence surfaced of his complicity in a domestic spying operation. So what does a disgraced politician who resigns in shame do? Why, receive a promotion,
If you are a taxpayer in the Land of the Free, you may have recently received a love letter from the Social Security Administration that went something like this: “Dear [Medieval serf paying into an insolvent pension fund]:” (OK I added that part myself) “Starting in August 2016, Social Security is adding a
It was only a matter of time. In the wake of multiple terror attacks, the European Commission is moving towards creating a mandatory, centralized database of Bitcoin ownership. Of course, their official reason is that Bitcoin is being used to finance terrorism. So for everyone’s safety and security they need even more authority
It all started with 9/11. After the twin towers fell in 2001, the US government sprang into action to wage the global war on terrorism. Within days following the attack, Congress pushed through the USA PATRIOT Act, providing unprecedented authority to the US federal government. The legislation also gave several government agencies sweeping