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Before there was an America, before there was a Britain, before even Rome and Ancient Greece, there was Assyria. For more than five centuries, the Assyrian empire was the wealthiest, strongest superpower in the world. If you could go back thousands of years during the reign of Ashurbanipal and suggested even the possibility
On January 26, 1841, two years into the First Opium War between China’s Qing Dynasty and the British Empire, Commodore Sir Gordon Bremer hoisted the British flag above Possession Point in Hong Kong. At the time the island’s population numbered less than 10,000. Most were illiterate fishermen. Hong Kong was also devoid of
I had an amazing time this weekend sharing the stage at an investment conference in Miami, with other speakers like Robert Kiyosaki, Peter Schiff, and G. Edward Griffin among others. During a panel on the future of money and banking we discussed how the financial system is rapidly losing control of its own
Hot off the presses, the US government just published its audited financial statements this morning, signed and sealed by Treasury Secretary Jack Lew. These reports are intended provide an accurate accounting of government finances, just like any big corporation would do. And once again, the US government’s financial condition has declined significantly from
Last week the Canadian Island of Cape Breton, Nova Scotia, off the Atlantic Seaboard near Maine, made an unusual offer to the American public. If Donald Trump wins, move to Cape Breton. There’s even a whole website about this, though not one officially affiliated with the local government. This is something that happens
Last week the FDIC released its annual financial statements, giving the public a glimpse into the financial condition of the organization responsible for backing up the entire US banking system. The numbers are pretty incredible. The FDIC maintains the Deposit Insurance Fund (DIF), which is the emergency stash for nearly all bank deposits
Years ago back in my days at the academy and in the military, I used to hear this phrase “freedom isn’t free” over and over again. It was almost a sort of motto for a lot of military units– a self-motivating expression that freedom came at a price, and it was our solemn
This is starting to become very concerning. The momentum to “ban cash”, and in particular high denomination notes like the 500 euro and $100 bills, is seriously picking up steam. On Monday the European Central Bank President emphatically disclosed that he is strongly considering phasing out the 500 euro note. Yesterday, former US
According to financial research firm ICI, total retirement assets in the Land of the Free now exceed $23 trillion. $7.3 trillion of that is held in Individual Retirement Accounts (IRAs). That’s an appetizing figure, especially for a government that just passed $19 trillion in debt and is in pressing need of new funding
Earlier this week the State Department released its latest statistics for people who have renounced their US citizenship. 2015 was another record year, with 4,279 people divorcing themselves from the US government and heading to greener pastures elsewhere. This was the third year in a row that broke the previous year’s record, showing
[Editor’s note: Our Chief Investment Strategist Tim Staermose is filling in for Simon today from Yangon, Myanmar.] Since so much of Asia is on holiday for the Lunar New Year, I decided to travel to Myanmar to check out how the economy is developing. Myanmar was once the wealthiest economy in Southeast Asia.
In 578 AD, a Korean immigrant named Shigemitsu Kongo made his way to Japan at the invitation of the royal family. Buddhism was on the rise in Japan at the time; though it had only been introduced a few decades prior, the Empress consort had been actively encouraging the adoption of Buddhism across
Thirteen years ago my life changed forever. Colin Powell, then US Secretary of State and the most credible person in George W. Bush’s cabinet, made the case for war in Iraq on February 5, 2003. As a young military intelligence officer at the time, watching from a makeshift army base in Kuwait not far
It’s news that seems ripped from the pages of The Onion. Or perhaps Atlas Shrugged. But incredibly enough it’s actually true: earlier this week, Congress proposed a new law authorizing the US Postal Service to provide banking and financial services. It’s called the “Providing Opportunities for Savings, Transactions, and Lending” Act, abbreviated as…
Even before his coronation in 1626, King Charles I of England was almost bankrupt. His predecessors King James and Queen Elizabeth had run the royal treasury down to almost nothing. Costly war and military folly had taken its toll. The crown had simply wasted far too much money, and brought in too little.