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Showing posts from July, 2013

A Reminder of the Golden Rule

In a Linkedin group on FATCA (Foreign Account Tax Compliance Act), someone highlighted an article on the Global Research (Center for Research on Globalization) website called The Dollar Racket.  In this piece, Valentin Katasonov, points out the increasing trend towards US authorities penalizing non US entities while remaining silent on the operations of American ones.  The author outlines the various theories that seek to explain this interesting phenomenon.
Some experts believe that the enormous fines some non-US (primarily European) banks are being forced to pay in penalties today is part of America’s financial restructuring campaign announced by the US President. Others believe that the fines are a new competitive weapon being used by American banks against European ones. Still others believe that the new mechanism of levying fines is the new global initiative of America’s ruling elite to strengthen the country’s geopolitical superiority over the Old World and the world as a whole.…

Triumph of Optimism?

Well one of my favorite websites, TheDailyBell.com has decided to close up shop.  The site will still be up but the editorial team will no longer update it.  For those unfamiliar with their work, the site sought to analyze contemporary economic events from a somewhat strict Austrian point of view.  One of my favorite geopolitical analysts, Joseph P Farrell, referenced them in his work a while back.  So I looked them up, subscribed and enjoyed their daily newsletter that would frequently go into areas of economic analysis that the contemporary corporate media would fear to consider.  They provided an important counterbalance to mainstream economic news that I will miss dearly.
Here is an excerpt of the note sent by the Editor -  
The struggle for freedom, especially today, continues to be both a challenge and a promise. The Austrian-oriented Daily Bell has pioneered insights such as the concept of the Internet Reformation and contributed to the understanding of how globalists use fear-…

New Economic Paradigms

It’s hard to believe that we are more than half way thru 2013 already.  Time is indeed flying.  It seems like only yesterday, I was complaining about the terrible winter weather.  I remember last November focusing on the December 21st 2012 milestone for two reasons.  Firstly in my line of work (technical price calculations), December 21st signaled the implementation of a particular piece of European legislation that was to dramatically impact a particular industry.  Secondly, the media was filled with pessimistic interpretations of the Mayan calendar.
Fortunately the world did not end in 2012 but 2013 has been just as dynamic as 2012.  Worldwide, political and economic turmoil seems to be the new norm.  Despite the continued challenges, I somehow remain extremely optimistic about our collective future.  The economy remains my key area of focus both personally and professionally, and there are three points I wanted to speak to.  Three alarmist economic paradigms that are fortunately, …

Harlequin investors face legal uncertainty over claims as debts hit £90m

http://www.moneymarketing.co.uk/investments/harlequin-investors-face-legal-uncertainty-over-claims-as-debts-hit-90m/1073670.article

2 July 2013 11:34 am | By Natalie Holt

Investors in collapsed overseas property firm Harlequin Property may not have valid claims against the company as the joint administrator reveals outstanding debts even without investor claims are expected to hit almost £90m. Harlequin Property, the trading name of Harlequin Management Services (South East), is an unregulated firm that sold investments in luxury resorts in the Caribbean and elsewhere, with some clients investing in Harlequin through their Sipps. Harlequin filed for administration in April, with Anthony Davidson and Stephen Ryman of Shipleys appointed as joint administrators in May. In the joint administrators report sent to Harlequin creditors last week, Shipleys says based on information provided by Harlequin directors, unsecured creditor claims are expected to reach £89.1m. Of the total money owed, …

FCA warns investors over paying more to Harlequin

http://www.moneymarketing.co.uk/regulation/fca-warns-investors-over-paying-more-to-harlequin/1072898.article
17 June 2013 12:36 pm | By Natalie Holt
The Financial Conduct Authority has issued a warning to investors considering paying money to unregulated overseas property firm Harlequin group and its associated companies. The regulator has published its latest alert about Harlequin after Harlequin Hotels & Resorts approached investors last month about funding the oustanding balance on built properties in the Buccament Bay resort in St Vincent and the Grenadines. Under the terms of the investment, investors paid an initial 30 per cent deposit and were due to pay the remainder once the properties were built.  Harlequin Hotels & Resorts told investors on 13 May that Harlequin’s St Vincent and the Grenadines subsidiary Harlequin Property (SVG) was working with Sipp and Ssas providers on the completion of built Buccament Bay properties. It invited investors who could fund the outsta…

The Importance of Giving

It is somewhat of an understatement to say that we live in challenging times.  This is probably the first time since the Second World War that so many of us fear that our children will be worse off than we are.  Austerity is the buzz word of the day. 
There is a way of measuring social mobility or the ease with which a son can do ‘better’ than his father.  It may surprise many that Scandinavia, much of mainland Europe (excluding Italy) and Canada score better than the US and the UK.  In other words, in the US or the UK, it is relatively harder for sons to do better than their fathers.  But in mainland Europe (excluding Italy) or Canada it is relatively easier.  In the United States and here in the United Kingdom, the situation is quite similar.  In both of our countries, the share of wealth concentrated in the hands of the very wealthy is increasing. 
Recently, a report by Oxfam and Church Action on Poverty explained that half a million people now use food banks, and that the UK is n…