A Big Fuck You! From Switzerland
- Category: Banks & Banking
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Some time ago in our article This Is The Endwe commented that the USA-led OECD-developed and OECD-enforced "Standard for Automatic Exchange of Financial Account Information in Tax Matters" is now in full force. This standard effectively made almost every single bank in the world a snitch... and the few ones left are soon to fall. There are no more tax havens left where privacy is respected. There are still a…
Asset Disclosure - The Ultimate Insult
- Category: Taxes
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Today we are going to review a little-known (but lethal) regulation that governments have been including in their robberyfair taxation schemes. Nowadays most people in "developed" countries have come to realize that the world is full of opportunities for investment. There is no reason to invest locally just because a retarded politician want a country to be "self-sufficient". As such, people are no longer tied to the market that exists…
There Is No Business Like Government Business - Part 2 of 2
- Category: Economic Conditions
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GOVERNMENTS VS CORPORATIONS - CONT'D
Printing wealth
Corporations cannot create wealth out of thin air, but what they can do is to create something close to that; this is, bonds. Bonds are simply contracts to repay loans at a later day for a fee (the interest). Corporations can borrow beyond their normal borrowing capability by printing and selling bonds. It is then up to each potential buyer to determine if…
There Is No Business Like Government Business - Part 1 of 2
- Category: Economic Conditions
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People often ask us why we consider governments so pernicious when it is clear that "normal" business rules do not apply to them since their job is to "govern". And our answer is always the same: There is no free lunch. F&P
Look, this is quite simple. We, the people, are physical beings. As such we need physical stuff. This stuff is in short supply which means that we need…
Lesson #241 - Austrian Economics For Dummies - Entrepreneurship - Part 2 of 2
- Category: Austrian Economics
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The societal function of loses
So far we have placed an increased emphasis on profits, but what about loses? Loses are the counterpart to profits. One cannot exist without the other. They point out to market participants the places where ineffectiveness and waste have occurred. This serves the function of advertising the fact that investing capital in such endeavours is not profitable and also that there may be an opportunity…
Lesson #241 - Austrian Economics For Dummies - Entrepreneurship - Part 1 of 2
- Category: Austrian Economics
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Entrepreneurs
Praxeology is notably distinct from other mainstream economic theories in that it emphasizes the role that entrepreneurs have in the economy. As Praxeology is the science of human action, it is only natural that the key actor in markets be identified, and this actor is the entrepreneur. What is an entrepreneur?
Entrepreneurs are people whose purpose is to maximize the use of their resources in order to reduce their uneasiness.…
The Chinese Plan Moves Forward
- Category: Economic Conditions
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THE SITUATION AS WE SEE IT
Some time back we reported that China (along with its BRICS friends) were setting-up mirror organizations to the International Monetary Fund and the World Bank (see The Economic Side Of TEOTWAWKI). At the time of our post the formal names of those organizations had not yet been defined. That was then and this is today. Please welcome the Asian Infrastructure Investment Bank (AIIB) to the world…
Governments, The Real Robbers!
- Category: Poverty
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We have been annoying all our readers time and time again with the notion that taxes are simply toxic to any free market because free markets are optimized systems. Any tweak from a "higher authority" and free markets begin to underperform. The simplest explanation as to why taxes are so toxic is because they destroy capital that would otherwise have been available for productive purposes.
Alas, we have been told…
USA The (current) Great Satan
- Category: Decentralization
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Many jihadists and Muslim leaders have called US the great Satan. They assumed the meaning of Satan to be the proper name of the supreme evil spirit in Christianity and thus by extension in Islamism. Yet, the etymology (i.e. origin) of the word provides us with different definitions depending which language we look at e.g. Latin, Greek, Hebrew or others. They are:
"adversary, one who plots against another"…
