HSBC is altering its oversight of safe-deposit boxes in Hong Kong. Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation. HSBC, a U.K. bank, is now moving against claimed financial crimes by altering conditions for safe-deposit boxes. This is becoming a global trend. Anything of value that is stored in a […]
The G20 central bank and finance ministers met in Shanghai in April and cheered the rally in the markets after patting themselves on the back. They then issued their communication, effectively blaming the private sector for not paying enough taxes for them to squander. They issued their Financial Action Task Force on Money Laundering (FATF), which is really […]
The International Consortium of Investigative Journalists (ICIJ) has said that they will release the names of the people involved in the Panama Papers today. They will be withholding the actual documents, which include everything from copies of passports, telephone numbers, Mossack Fonseca’s internal emails, and, in some cases, financial records. Material that will not be included in […]
The government is dancing between the raindrops. The 5th Amendment states that you cannot be compelled to testify against yourself. You have the right to remain silent. So how do they get around this? In my case, I personally was not held in contempt since that would have violated my constitutional right. Instead, the corporate […]
We are facing a pension crisis, thanks to negative interest rates that have destroyed pension funds. Pension funds are a tempting pot of money that government cannot keep its hands out of. The federal government of Canada, for example, is looking to reduce the cost of government by shifting Canada’s mounting infrastructure costs to the […]
The Bundesbank (German Central Bank) has come out to oppose eliminating cash. During the pre-euro years, the Bundesbank was providing us with inside info on the euro preparations because they were outright against it. Those who always hate central banks do not realize that they are not always what it seems. The Bundesbank is now […]
General view of the buildings of the Court of Justice of the European Communities The European Court of Justice (ECJ) has stated that banking secrecy established in Austria cannot be relied upon by German bank branches in Austria to defeat tax authorities. Branches of German credit institutions in Austria must, therefore, provide information on accounts […]
One of the reforms we have presented in our Solution is why income taxes have become obsolete and should be eliminated. The only people who pay income taxes are citizens and green card holders. Illegal aliens need not apply. Elizabeth Warren has introduced an idea that would allow U.S. taxpayers to have the government do their taxes […]
llinois motorists are living in a bankrupt state that has promised pensions it never funded. Their state constitution bars the politicians from reducing the pensions so the net result, tax payers must pay a lot more to fund pensions of government workers. As oil prices have collapsed, tax revenues have dropped. The net result, the […]
The revelation that David Cameron’s father had offshore accounts through Panama has continued to plague Cameron and could create a nudge toward the tipping point come the BREXIT vote in June. “I know that I should have handled this better, I could have handled this better. I know there are lessons to learn and I will […]
