In 2009, the IRS introduced the Offshore Voluntary Disclosure Program (OVDP). The program was designed to encourage US taxpayers to come forward with information about previously undisclosed offshore bank accounts, in exchange for reduced penalties.
Overcoming Our Inordinate Fear of Inflation … Why do we care so much about preventing inflation? When I put this query to baby boomers, they tell me that if I had lived through the inflation of the 1970s and early 1980s, I would understand.
Jim Rogers told me to come here.
Three months ago, when Italy's renewed bank troubles were reemerging again, and the country unveiled its first, and certainly not last, "bad bank" in the shape of the "Atlas" (or Atlante) bailout fund, we - as well as everyone else -
In August 2014, Chinese industrial production was estimated to have slowed sharply from +9.0% that July to just 6.9%. Consensus at the time expected only a minor variation, an insignificant change to +8.8%.
Britain is polarised following a referendum where the people were asked to choose between two unpleasant options.
Venezuela's military has taken control of five ports in an effort to guarantee supplies of food and medicine.
While we are waiting it might be wondered, however, whether nearly two decades of central bank financial repression have not merely destroyed honest price discovery on Wall Street. Perhaps it has actually extinguished brain function entirely among th
Jon Cruddas and Tom Kibasi are not paid-up members of the Universal Basic Income fan-club-as their article in the July issue of Prospect-A Universal Basic Mistake-shows. As they put it, a UBI would "discourage work, perpetuate inequality, be
One conundrum stumping investors in recent months has been how, with investors pulling money out of equity funds (at last check for 17 consecutive weeks) at a pace that suggests a full-on flight to safety, as can be seen in the chart below which show
What is your assessment of contemporary Western Europe, and in particular the EU?
The Euro was supposed to lift all boats. Italy was left behind, and will stay there for two more decades according to the IMF.
The people waiting for hours in front of the drugstore were dazed with heat and boredom when the gunmen arrived.
-Bernanke's Japan Visit Unveils "Helicopter Money", Sparks Monster Rally
Italy's Matteo Renzi buffeted on all fronts … Matteo Renzi is facing months of domestic challenges, including a referendum that could bring him down Matteo Renzi's nickname is Il Rottamatore " the Demolition Man. Italy's prime minister wear
Nearly everywhere on the planet, the giant financial bubbles created by the central banks during the last two decades are fracturing. The latest examples are the crashing bank stocks in Italy and elsewhere in Europe and the sudden trading suspensions
Venezuelans are suffering economic and political turmoil that has caused food shortages and deadly unrest over recent months.
Two years after Paul Krugman sat down with Abe to tell him how to run monetary (and to a lesser extent fiscal) policy, Abenomics lies crushed in a steaming pile of discredited Keynesian economics, with the "deflation monster" once again ruling the la
I have said it many times in the past -- when elitist criminals start openly admitting to their schemes it means that they are ready to pull the plug on the current system.
The fallout from the Brexit vote continues to rock the European financial system.
Venezuela is reaching the point of total desperation. Women are now pouring over the Colombian border in effort to get their hands on groceries, trading on the black market and doing anything to survive.
We truly have the best monetary system… that money can buy.
This piece first appeared at Web of Debt. Sovereign debt -" the debt of national governments - has ballooned from $80 trillion to $100 trillion just since 2008. Squeezed governments have been driven to radical austerity measures, privatizing publ
"There's too much of everything…" The debt, the currency collapse, the global economy, and the institutions we've all taken for granted. All of it is headed for prolonged collapse, and revolution.
Programs about the improbable success of Chile and Estonia already have aired on nationwide TV, and those were joined last weekend by a show about the "sensible nation" of Switzerland.
With the short-end of the Swiss yield curve yielding below -100bps, it was only a matter of time before things went entirely mad at the long-end and today for the first time in history Swiss 50Y yields have tumbled below zero (trading as low as -2.7b
Back in May 2013, we wrote an article titled "Europe's EUR 500 Billion Ticking NPL Time Bomb" in which we laid out very simply what the biggest danger facing European banks was: non-performing, or bad, loans.
Spain's Social Security system is expected to go broke by 2018.
European Banks Have Their Worst Two Day Stretch EVER As The Global Financial Crisis Intensifies
Bill Gates' philanthropic efforts are usually greeted with near-universal praise from people who believe he is a great humanitarian, but Bill Gates knows very little about sustainable, intelligent development.