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Sunday
May 31st
2015

MARK NESTMANN on US FOREIGN INVESTMENT TAXATION

Mark Nestmann

 

SPECIAL GUEST: MARK NESTMANN: Since 1990 has helped hundreds of clients seeking wealth preservation and international tax planning solutions. He is the author of many books and reports dealing with these subjects and a popular public speaker. Beginning his career as an investigative journalist in 1983, Nestmann now serves as President of The Nestmann Group, Ltd., an international consultancy assisting individuals to achieve their wealth preservation goals. He also is the Tax and Asset Protection editor for The Sovereign Society. Nestmann divides his time between offices in Vienna, Austria and Phoenix, Arizona. In 2005, Nestmann was awarded a "Master of Law" (LL.M.) degree in international tax law at the Vienna University School of Economics and Business Administration in Vienna, Austria. Nestmann's research and thesis dealt with the subject of "exit taxes" imposed on individuals who change their tax residence from one jurisdiction to another.

MARK NESTMANN on

US FOREIGN INVESTMENT TAXATION

26 Minutes

After establishing a noted career in international investment, Mark Nestmann left the US for three years to study for his "Master of Law" (LL.M.) degree in international tax law at the Vienna University School of Economics and Business Administration in Vienna, Austria. This is an indication of the seriousness and rigor with which Mark tackles issues in International Taxation for his high net worth clients. He shared his views with the FINANCIAL REPRESSION AUTHORITY in this exclusive interview.

FOREIGN ACCOUNT TAX COMPLIANCE ACT - FATCA

Passed in 2010 and hidden as part of a "Military Pensions Act", no one fully understood what it meant or paid much attention to it.

"The Foreign Account Tax Compliance Act, is one of the most arrogant and one-sided laws ever passed by Congress. The idea behind FATCA, which Congress enacted in 2010, is simple: Demand that other countries enforce America’s imperialistic tax laws. And do so by the confiscation of foreign assets, if necessary." - Why FATCA Is a Train Wreck Waiting to Happen - Mark Nestmann

"What is happening is foreign financial institutions (which is defined very broadly in the act) under the law are required to identify their US clients and force their US clients to self identify and turn over information to the IRS."

"If the banks or countries don't comply then 30% of their US source income (and in some case 30% of source gross sales revenues) of things like stocks, bonds, CDs etc are withheld - this is a pretty big number! The only way banks can avoid the 30% withholding tax is to essentially act as unpaid IRS informants."

"Not surprisingly, FATCA and numerous other laws that require FFIs to enforce US money laundering, anti-terrorism, and securities regulations have led most of these institutions to fire their US clients. Perhaps one in 10 – and possibly fewer – non-US banks still permit US citizens or permanent residents to open accounts. That leaves little choice for Americans but to deal only with banks that have agreed to toe the IRS line." - Why FATCA Is a Train Wreck Waiting to Happen - Mark Nestmann

"Non US persons investing in the US are also effected by FATCA. If their foreign bank don't comply their US investment is whacked 30% as well - It isn't just Americas who should care about this but basically everyone in the world!"

This is not a good time to have unreported financial accounts in countries that have already signed FATCA agreements with the US, or are about to. If you’re in this situation, you might want to seriously consider retaining a tax attorney to enroll you in the IRS’s latest Offshore Voluntary Disclosure Program.

PASSIVE FOREIGN INVESTMENT COMPANY - PFIC

"PFIC is another aspect of Financial Repression and aspect of regulatory restrictions on investment choices."

"If you have an investment vehicle registered outside the US the IRS will consider it a PFIC. As an example of the way this tax is very unfavorable is that unless an offshore Mutual Fund qualifies as a US Mutual Fund when you sell it (or deemed to sell it) you have to file not only a return on the income by also a "throwback" interest charge for EVERY YEAR you held the fund. Additionally the tax rate is computed at the highest marginal rate in that year!"

"What happens is that people who held offshore mutual funds for a long period of time windup losing every penny of income in that fund because it is paid out in taxes and interest penalties."

... there is much, much more in this 26 minute video interview covering:

  • CITIZENSHIP TAXATION (including the absurdity of 1986 Tax Legislation for "Mars"??)
  • UNOFFICIAL CAPITAL CONTROLS NOW IN PLACE,
  • US 2008 "EXIT TAX" (for citizens and Green Card holders on unrealized gains),
  • INHERITANCE IRS TAX GRABS,
  • THE NEW EX-PATRIOT ACT,
  • INVESTING ABROAD,
  • THE RATE OF ACCELERATION OF RESTRICTIVE FOREIGN CHOICES FOR AMERICANS,
  • THE GROWING MOVEMENT TOWARDS SECOND CITIZENSHIP PROTECTION,
  • WHY THE LEGAL ABOLISHMENT OF CASH IS COMING.

 

 

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Friday
May 29th
2015

JOHN MAULDIN talks FINANCIAL REPRESSION w/FRA

JOHN MAULDIN

 

 

SPECIAL GUEST: JOHN MAULDIN , is the president of Millennium Wave Advisors, an investment advisory. He is also a registered representative of Millennium Wave Securities, a FINRA-registered broker-dealer. Previously, he was chief executive officer of the American Bureau of Economic Research. Each week, well over a million readers turn to John Mauldin to better understand Wall Street, global markets, and the drivers of the world economy. And for good reason. John is a renowned financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher one of the first publications to provide investors with free, unbiased information and guidance, Thoughts from the Frontline the most widely read investment newsletter in the world.

 

JOHN MAULDIN talks

FINANCIAL REPRESSION

with Gordon T Long

23 Minute VIDEO

FINANCIAL REPRESSION

My recent book 'Code Red' was really all about Financial Repression. We were talking then about Currency Wars which has come to be played out. We were talking then about Central Banks driving down interest rates on savings to force retirees and savers into other types of investment and take more risk. They want them to move more out onto the risk curve which the central bankers believe will stimulate the economy. What they don't understand is that taking it from savers, it takes it from their consumption behavor patterns."

They are robbing from Peter to pay Paul, but in this case Paul is the banks and Wall Street Interests. It is not for the guy on main street.

"When the central banks start messing around with the markets they change the price of money and it has all sorts of unintended consequences!"

SEVENTH ANNIVERSARY OF ZERO INTEREST RATES

"This period of zero interest has created an extraordinary set of malinvestments as a result of unintended consequences. One example is they have moiney real cheap for Texas oil men. When you make money cheap for Texas oil men they punch holes in the ground. They moved out 'onto the edge'. It created employment and drove rig prices up." ... "It changed behavors, it changed how we think the worrld works - we will see how it works out!

BOND LIQUIDITY CRISIS

"Investors have been moving into high yield (HY) bonds. We are issuing risky HY bonds that are much more risky than 2007 with less covenants. Its like we didn't learn anything! People feel they have to have more yeild and can't survive without it. We have bond funds where people are chasing longer duration bond funds. If interest rates on the long end of the curve grwos by 1%, these longer duration bond funds (2 of the largest funds in the world) could lose 20%. Investors in 401K's who see 20% losses will panic and hit the sell button. Becasue we wrote a bill called Dodd-Frank, which basically says you banks can't get involved in providing liquidity to this market because we don't want you to take the risk - they have shoved the risk to investors who will all try and get out the door at the same time!"

"It would not surprise me in the next crisis (and it will happen) to see the Federal Reserve step in and start directly funding Mutual Funds and ETFs trying to provide liquidity into a panicing market!"

A 'SKYROCKETING' DOLLAR

As John wrote in "code red" he sees a continuing strengthening in the US$.

"The dollar is going to get stronger than any of us can even imagine!"

"The BIS cites that emerging markets have borrowed some $9T in US$ terms." As emerging markets weaken they must pay their loans in appreciating dollars. There is presently a mad scramble ensuing to cover this carry trade. Mauldin believes it will get even worse because of Japan.

"Japan is just continuing to print money. They are just going to print more money! When that doesn't work they will print even more money. They have a sovereign debt crisis that the only way they can solve it to trash their currency and to move the debt they have generated from banks and pension funds unto the balance sheet of the central bank. That is their only solution. Today the 10 Year JGB market (it used to be one of the most liquid in the world) if the BOJ is not buying there are no trades! That is just shocking and is going to put pressures on currencies all over the world!"

"This is movie we just don't believe will end well!"

LIKELY SCENARIO

  1. A couple of contries have a major crisis,
  2. It may possibly roll from country to country,
  3. The Federal Reserve will supply SWAP lines to central banks around the world,

"Investors at this stage should start to consider what is their exit strategy!"

... and much more in the video discussion.... John gives his advise on what things invetors must now be concerned with and how they should be preparing.

 

 

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Thursday
May 28th
2015

ELLEN BROWN talks BANKING w/FRA

ELLEN BROWN

 

 

SPECIAL GUEST: ELLEN BROWN , is the founder of the Public Banking Institute and the author of a dozen books and hundreds of articles. She developed her research skills as an attorney practicing civil litigation in Los Angeles. In the best-selling Web of Debt, she turned those skills to an analysis of the Federal Reserve and “the money trust.” She showed how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back.

 

ELLEN BROWN talks

BANKING

with Gordon T Long

32 Minute VIDEO

Ellen Brown has written to popular books on banking, is the founder of the Public Banking Institute and ran for California State Treasurer in the last election. She knows a thing or two about banking. What she has to say is no pretty.

BANKING IS IN WORSE SHAPE

    1. Loans for small business is harder to get,
    2. Big Banks are lending less,
    3. Big Banks have more derivatives than ever with 98% controlled by the big 4,
    4. Small to Medium size banks are having more difficulties making loans because of Dodd-Frank and Basel III. (Rules which favor big banks).

The rules are effectively competitively disadvantaging the small to medium sized banks in favor of the banks who got us into the financial crisis in the first place and have the lobbyists to secure favorable advantages. It is the smaller to medium sized banks that have traditionally funded small business growth and innovation in America.

STEALTH BAIL-IN VERSUS BAIL-OUT PROVISIONS

In 2010 the congress moved to stop future bailouts but brought in "bail-ins". In the future if the big banks fail due to risky loans they will be forced to recapitalize themselves but with unsecured creditor funds. This means using depositor funds who are the largest unsecured creditor class of the banks. The public is generally unaware of this shift.

"Cyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including state and local governments, may be at risk. Derivatives have “super-priority” status in bankruptcy, and Dodd-Frank precludes further taxpayer bailouts. In a big derivatives bust, there may be no collateral left for the creditors who are next in line. 

WHY NEGATIVE NOMINAL BOND YIELDS?

Ellen suggests that the reason we are seeing $5T in Sovereign Bonds now trading with negative nominal yields is because the larger banks need them for collateral in the Repo market. The Fed has reduced the availability of bonds and the banks need the bonds for leverage. They simply don't mind paying a small price to obtain the lending leverage.

PROFITS IN DERIVATIVES

As Citigroup CEO Chuck Prince so infamously cited prior to the 2008 Financial Crisis, "you have to get up and dance while the music is playing!" Today Ellen believes the pursuit of yields and use of derivatives is about short term profits with little regard to the longer term issues where depositors will be on the financial hook. The banks senior secured debt holders now receiving large interest fees will once again be protected. Shareholders, depositors and those lower on the capital structure will be the losers.

OTHER SUBJECTS

  • The secretive issues with the stealth TPP (Trans-Pacific Partnership),
  • Campaign finance, big money and running for public office,
  • A public bank solutions and the North Dakota model,
  • Coming Infrastructure spending,

.... and much more in this 32 minute video.

 

 

 

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Wednesday
May 27th
2015

JOHN RICHARDON talks FATCA & US CITIZENSHIP TAXATION ABROAD

 

 

SPECIAL GUEST: JOHN RICHARDSON, is Canadian based lawyer with a specialized practice of US Taxation abroad for US Citizens. He is the publisher of the web site: citizenship solutions.ca

 

JOHN RICHARDSON talks

FATCA & US CITIZENSHIP TAXATION ABROAD

with Gordon T Long

38 Minute PODCAST

FINANCIAL REPRESSION, FATCA & US TAXATION

JOHN RICHARDSON, is Canadian based lawyer with a specialized practice of US Taxation abroad for US Citizens. He is the publisher of the web site: citizenship solutions.ca. He tackles the following head-on with "no holds barred"!

You will never view US Taxation the same after listening to this 38 minute podcast.

- How citizenship taxation has made U.S. citizenship a disability in the modern world
 
- Why renouncing U.S. citizenship is an excellent investment for "U.S. citizens" not living in the U.S.
 
- How the U.S. "Exit Tax" triggered by renouncing U.S. citizenship operates to confiscate non-U.S. assets outside the U.S.
 
- How citizenship taxation imposes a "capital tax" on any country that has U.S. citizens resident in it
 
- How FATCA allows the U.S. to increase its tax based by expanding the definition of citizenship
 
- How FATCA lowers the international standard of human rights in the world
 
- How FATCA compliance costs will keep the poor countries poor
 
- The FATCA Sanction and the "Weaponization of Finance"
 
- FATCA English and FATCA Forms
 
- Why the U.S. will always prefer FATCA to GATCA
 
- FATCA and the future of the dollar as the major world reserve currency

 

 

 

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Wednesday
May 27th
2015

 

SPECIAL GUEST HOST: John Embry & Rick Rule

 

WEBINAR

War on Cash

 

CLICK TO PLAY

 

CLICK TO PLAY

 

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Thursday
May 21st
2015

INTERPRETING THE SIGNALS

John Rubino

 

SPECIAL GUEST HOST: JOHN RUBINO, Author & Publisher of DollarCollapse.com

OPEN ACCESS

 

INTERPRETING THE SIGNALS

with John Rubino & Gordon T Long

Published 05-21-15

43 Minute Video

CONNECTED IN STRANGE WAYS?

John reviews the key messages in his latest 5 reports:

GROWTH

  • Currency War Collateral Damage: China Stops Growing, Starts Easing,
  • US Nearing a Recession, Dollar Falling Hard,

MOMENTUM

  • Canaries In The Coal Mine, Part 1: Tech High-Flyers Fall To Earth,

SENTIMENT

  • The End is Near, Part 3: Corporations are the Ultimate Dumb Money,
  • The End Is Near, Part 4: Peak Trophy Asset Inflation

INTERPRETING THE SIGNALS

Based on these reports, Gord & John then consider what underlying trends are at work and what it means going forward.

 

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Tuesday
May 19th
2015

MARK THORNTON talks FINANCIAL REPRESSION

 

 

SPECIAL GUEST: MARK THORNTON PhD, is Senior Fellow at the Mises Institute. He serves as the Book Review Editor of the Quarterly Journal of Austrian Economics. His publications include The Economics of Prohibition (1991), Tariffs, Blockades, and Inflation: The Economics of the Civil War (2004), The Quotable Mises (2005), The Bastiat Collection (2007), An Essay on Economic Theory (2010), and The Bastiat Reader (2014). Dr. Thornton served as the editor of the Austrian Economics Newsletter and was a member of the Editorial Board of the Journal of Libertarian Studies and several other academic journals. He has served as a member of the graduate faculties of Auburn University and Columbus State University. He has also taught economics at Auburn University at Montgomery and Trinity University in Texas. Mark served as Assistant Superintendent of Banking and economic adviser to Governor Fob James of Alabama (1997-1999), and he was awarded the University Research Award at Columbus State University in 2002. He is a graduate of St. Bonaventure University and received his PhD in economics from Auburn University.

 

MARK THORNTON talks

FINANCIAL REPRESSION

 

35 Minute Video Interview

FINANCIAL REPRESSION

"A financial scam of the government over the private economy ... It is aimed at taking advantage of their citizens, savers and investors."

Government authorities are:

  • Printing money,
  • Issuing enormous amounts of debt,
  • Suppressing interest rates,

.. all with the intention of exploiting the worker and inflating the value of the goods they buy, as wages fail to keep up. Savers are now receiving negative real rates of returns which is the government extracting resources for themselves at the expense of the common man.

WAGING WAR ON SAVERS

WINNERS: The policies of Financial Repression help:

  • Banks
  • Large Corporations,
  • Government,
  • Large Borrowers,

LOSERS: The losers are:

  • Savers,
  • Consumers,
  • Producers,
  • Laborers,
  • Entrepreneurs

POLICIES: The world wide economy is suffering as a result of the policies which include:

  • Inflation,
  • Zero Interest Rates
  • Quantitative Easing,
  • Heavy Regulation (Healthcare and Banks)

This is an enormous problem in the modern context.

ACCUMULATION OF DEBT

Debt levels are now at critical levels:

    • Excess accumulation of debt has become a critical burden to the productive capacity of the global economy,
    • Significant levels of global investment is presently malinvestment,
    • Excess global capacity has been used to produce none-productive assets,
    • Lack of Price Discovery and Mispricing of Risk are distorting economies and investment behavior,
    • Many parts of the economy are fragile and a recession is now knocking on the door of the US,
    • .... and more

AUSTRIAN PRESCRIPTION

    • The Federal Reserve needs to get out of the interest rate markets and allow the markets to work properly,
    • The Federal Government needs to balance budgets and cut back spending tremendously,
    • The Government needs to signal to markets participants that they are not going to see their taxes increased significantly,
    • The Government needs to demonstrate they are going to do something about the national debt and unfunded liabilities.

    These policy positions would begin to incent investment very quickly.

The Central Problem is Unsound Money

 

 

 

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Monday
May 18th
2015

JIM PUPLAVA talks

FINANCIAL REPRESSION

 

 

 

SPECIAL GUEST: JIM PUPLAVA , is the Founder, President & CEO of PFS Group. He is also the chief author and host for the Financial Sense Newshour. Puplava's website at financialsense.com was named a "supersite for alternative investing" by The Globe and Mail, Canada's largest-circulation national newspaper.”

 

JIM PUPLAVA talks

FINANCIAL REPRESSION

30 Minutes

Jim Puplava was one of the first researchers to go public with the concept of Financial Repression and the Financial Repression Authority wants to recognize him for this. After studying the writings of Rogoff & Reinhart, Jim Puplava identified shortly after the Financial Crisis the fact that policies of Financial Repression had been used after WWII with success and began writing and talking about them. He was a long voice on the subject.

The difference today and the previous situation after WWII is:

  1. The US is n o longer on Gold Standard (we now have a Global Fiat based currency system),
  2. Most developed economies have record Debt-to-GDP levels,
  3. We now have record levels of Derivative and Securitization which didn't exist after WWII,
  4. Globalization has changed the level of financial interconnections and dependency.

FINANCIAL REPRESSION

Jim Puplava suggests:

"Financial Repression in essence is a tax on savers! Savers are getting real negative interest rates (before taxes). The work of Keynes advocated robbing savers to the advantage of the government. The losers are savers while the winners are debtors and the government"

    • Winners: Debtors
    • Losers: Seniors (they are the savers)

PUBLIC IS UNKNOWINGLY CONTRIBUTING TO FINANCIAL REPRESSION

The stock market has seen a net $60-$80B go into the stock market since the rally began after the financial crisis. "The vast majority of individuals have been going into bond funds which by the way is part of the plan of Financial Suppression".

"Most investors have gone through two bear markets in the last decade where stocks lost 45%. They are now closer to retirement than they used to be and don't want to go through that again!"

As such they missed out on a historic market rally. "If they had held the course they would be ahead. The vast majority of people kept their money in savings because the headlines were scary."

"The media did an exceptionally poor job of explaining what was going on in the financial markets. Instead of telling people they needed to capture or take advantage of what Financial Repression was putting into place. Financial Repression supports growth type assets like stocks and commodities (initially coming out of 2009). This is how you re-capture (the prior market draw-downs). That is not what happened."

A BROAD RANGING DISCUSSION

The broad ranging discussion in the 35 minute interview include:

    • Market drivers of Corporate Buybacks and broad Central Bank buying,
    • Outlook for bond rates,
    • Why Warren Buffet has 90% of his investments in equities,
    • The scope of taxation on savings and what it means to future retirement planning,
    • Economic growth and top line growth is not there so corporations are doing "rational allocation of capital". This is presently driving corporate policy.
    • Fiscal Policy is missing from the governments economic agenda,
    • Critically important is the impact of demographics and changing Millennial buying patterns,
    • Financial Repression will likely go on for a couple more years before it inevitably breaks.
    • .... and more

 

 

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Wednesday
May 13th
2015

RICHARD DUNCAN talks FINANCIAL REPRESSION

 

 

 

SPECIAL GUEST: RICHARD DUNCAN , Economist, Author & Publisher of RichardDuncanEconomics.com.com

ABOUT RICHARD DUNCAN

Richard Duncan is the publisher of Macro Watch, a video-newsletter that analyzes trends in credit growth, liquidity and government policy in order to anticipate their impact on asset prices and economic growth.

He is also the author of three books on the global economic crisis.  The Dollar Crisis: Causes, Consequences, Cures (2003); The Corruption of Capitalism (2009); and, The New Depression: The Breakdown Of The Paper Money Economy (2012).

Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok.  He also worked as a consultant for the IMF in Thailand during the Asia Crisis.

Richard has appeared frequently on CNBC, CNN, BBC and Bloomberg Television, as well as on BBC World Service Radio.

 

RICHARD DUNCAN talks

FINANCIAL REPRESSION

 

43 Minutes, 15 Slides

FINANCIAL REPRESSION

"The Policies that come under the heading of Financial Repression I look at as policies that were necessary once the global bubble began to implode in 2008. The policies the Government, the Fed, the US Treasury, and Central Banks around the world have been putting in place are emergency measures just to try and prevent the next Great Depression from occurring. When you add all these measures together it has become to be known as what is called Financial Repression. I don't think the policy makers consider nor view it as repressing anything. They view it as measures that are absolutely crucial to keep the global economy from absolutely imploding. While there are some unpleasant side effects, (like savers not earnings enough money to retire), they view the alternatives as complete economic breakdown which would be far, far worse!"

"Policy makers consider these policies as the bare minimum to prevent the global crisis from becoming the Great Depression - Part II!"

A GLOBAL BUBBLE

"We have a global bubble which started to pop in 2008, but the policy response of trillions of dollars of budget deficit, financed with trillions of dollars of new fiat money creation has succeeded in keeping the global bubble inflated. We still have a massive bubble who's natural tendency is to deflate. In order to keep it from deflating into the Great Depression policy makers have continued to inject more credit! This is what Quantitative Easing is all about."

GOVERNMENT NOW "MANAGES THE ECONOMY"

Richard Duncan's basic premise is that the government has been managing the economy since at least WWII and to make money investors must anticipate what the government is going to do next. As such he uses a framework to monitor liquidity and credit growth to see how they will impact the economy and force the government into what must be done to continue to manage the growth of the economy.

The broad ranging discussion includes:

    • Developed Economies Stealth Strategy of Government "Debt Cancellation"
    • The Potential of a Recession in 2015 /2016,
    • Expectations of a QE4
    • Reasons for $5T of Global Bonds trading at Negative Nominal Rates,
    • Global Deflation as a result of Globalization and the resulting Global Over-Production,
    • .... and more

 

 

 

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Wednesday
May 11th
2015

Egon von Greyerz on RISK & WEALTH PRESERVATION

 

 

 

SPECIAL GUEST: EGON von GREYERZ , Founder & Managing Partner, Matterhorn Asset Management AG and GOLDSwitzerland.

OPEN ACCESS

RISK & WEALTH PRESERVATION

Published 05-11-14

34 Minutes

UNDERSTANDING RISK & WEALTH PRESERVATION

"Wealth Preservation is absolutely critical for the coming years, or even decades and was we set up a special division within Matterhorn Asset Management called GoldSwitzerland to assist investors. We store primarily Gold and Silver outside the banking system in ultra secure vaults in Zurich and the Swiss Alps (which is both the largest and most secure gold vault in the world) along with Singapore and Hong Kong with clients in over 40 countries which includes individuals, family offices as well as institutional clients."

"We intentionally remove ourselves from counter-party risk. We facilitate the investment in precious metals for investors but the metals are held in the name of the investors and therefore they can go to any of the vaults directly (even without our assistance). GoldSwitzerland is the only company in the world that offers this facility where clients have numbered bars in their own name where they can go directly to the vault to inspect them or withdraw them directly."

UNPRECEDENTED GLOBAL RISK

"I believe the world is in a bigger mess than I have seen going back in history! The risks are absolutely unprecedented with virtually every major economy now bankrupt. Japan in my view will not survive as an economy and will 'sink down into the Pacific Ocean'. They are living on borrowed time and sadly at some point in time the Japanese economy will implode. Additionally we have massive problems in China where borrowing has been increased by $20T in the last few years. Europe has no solution to Greece and the Euro is the biggest problem to the world. You add to these Economic risks those of Geo-Political risk and risk is immense!"

"The Black Swans are everywhere and at some point one of them will land somewhere."

WHY GOLD AS INSURANCE?

"Throughout history gold is the only money that has actually survived. No other form of currency has survived.

VOLTAIRE: "Paper money eventually returns to it's intrinsic value of zero!"

MARK TWAIN: "Investors should worry about the return of their investment and not on the return on their investment!"

"I am not a gold bug. It is just that we decided in 2002 the world was in a mess and it was going to be in a bigger mess. Therefore people needed to invest directly in gold outside the banking system and preferably outside their own country of residence."

THIS COMPREHENSIVE 35 MINUTE VIDEO COVERS MANY ASPECTS OF PRECIOUS METALS INVESTING

.... WHICH ONLY ONE OF THE WORLD'S LEADING EXPERTS CAN OFFER

  • Paper markets are manipulated,
  • Central Banks do not have the gold they say they have because of leasing contracts,
  • Producers and refiners are at maximum production based on demand,
  • Meanwhile, Gold is trading at or near its cash cost,
  • The more government mis-manage the economy, the more important gold becomes,
  • ... and much more

 

 

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Monday
May 4th,
2015

HOW DO WE LEARN TO INNOVATE?

 

Charles Hugh Smith

 

 

Regular Co-Host: CHARLES HUGH SMITH , Author & Publisher of OfTwoMinds.com

 

with Charles Hugh Smith & Gordon T Long

32 Minutes - 24 Slides

Charles Hugh Smith and Gordon T Long discuss HOW WE LEARN TO INNOVATE.

HOW DO WE LEARN TO INNOVATE? 

INNOVATION IS EQUAL PARTS:

ATTITUDE - INTELLIGENCE - CURIOSITY - "SWEAT“

INNOVATION IS 10% INPIRATION, 90% PERSPIRATION

INNOVATION CAN BE LEARNED

Steve Jobs learned to Innovate because of:

Attitude - He had a passion for something which he felt could be and needed to be changed,

Intelligence - He wasn't a genius. Few innovators are a genius but few innovators are stupid,

Curiosity - Jobs studied calligraphy out of curiosity – It became the foundation of GUI

Sweat - Jobs was a self described "obsessive driven workaholic"

ELEMENTS OF INNOVATION

-- Innovation = solving problems,

  • Solving problems requires:
  • Deep knowledge of specific fields,
  • High level skills,
  • Experience and Cross-fertilization of different fields/skills.

-- Innovation = professional-level collaboration with other experienced people

-- Innovation = professional = accountable, good communication skills, trustworthy, able to learn new skills and fields

-- The truly disruptive innovations

• Destroy costs (50% to 90% reductions) and

• Provide goods and services that are faster, better, cheaper

APPLE - iPod, iTunes, iPad, iPhone …. Changed Industries!

 

 

 

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Gordon T Long is not a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. Of course, he recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments.

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