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The IRS Will Soon Extend Its Long Arm to Foreign Banks

Written by Gary North on December 12, 2011

Bill Bonner’s Daily Reckoning ran this. The IRS has extended its long arm to foreign banks. The FATCA law (Foreign Account Tax Compliance Act) will force banks across the globe to collaborate with the IRS. An explanation of the huge repercussions this legal precedent will have on banks and banking clients. Once FATCA — Foreign […]

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The Lollipop Guild: Stock Market Bulls

Written by Gary North on December 12, 2011

In The Wizard of Oz, three Munchkins represented the Lollipop Guild.   Economist and fund manager John Hussman has taken that phrase and has elaborated on it. We represent the Lollipop Guild Frankly, I am concerned that Wall Street is becoming little more than a glorified crack house. Day after day, the sole focus of […]

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Cameron Torpedoes the New World Order

Written by Gary North on December 12, 2011

David Cameron, Prime Minister of Great Britain, has torpedoed the next ratchet upward of the New World Order. By refusing to consent to a massive tax on all financial transactions by the European Union, he has sank the EU’s goal of revolution by treaty. The NWO is outraged. All across Europe, the press is hammering […]

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A Rolling Recession Will Engulf USA in 2012

Written by Gary North on December 12, 2011

By the election month of November 2012, the USA will be in the clutches of a major recession. It will be a replay of 2008. Recessions are bad for incumbents. A recession is even worse for an incumbent who was elected to overcome a recession, only for it to reappear four years later. That is […]

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Blago’s Cost to Illinois: Over $14 Billion

Written by Gary North on December 12, 2011

This video is great. It reports on an estimate made of the Illinois government’s unnecessary spending by convicted ex-governor Rod Blagojevich: $14.4 billion. He received a sentence of 14 years in prison: about one year for each billion dollars. The story is about his corruption, but what is interesting is that most of the costs […]

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Will Your Future Get “Corzined” into Dust? Why Not?

Written by Gary North on December 9, 2011

MF Global lost $1.2 billion in customers’ accounts. The clients’ money is gone. Corzine testified under oath to Congress yesterday that he has no idea where it went. If he doesn’t know, nobody knows. Yet the financial system rests on this: investors think someone in charge knows where all of their money is. If you […]

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Preparing for Rioting

Written by Gary North on December 9, 2011

The word “riots” catches the attention of people with money. They fear social breakdown. We in the West assume that there will not be riots. But in Greece, citizens know better. There were major riots in London earlier this year. In the United States, “flash mobs” spread across the country last summer. They were not […]

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Choices Reduced: 401(k) Plans

Written by Gary North on December 9, 2011

The new trend is for 401(k) plans to offer fewer choices. It seems that investors are getting confused. They make mistakes. So, employers want to help. Help themselves. Simpler menus can help employers, too. “From the plan sponsor’s point of view, you have fewer funds that you have to monitor and evaluate on an ongoing […]

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Budgeting: Mother of 8 Challenges Mother of None

Written by Gary North on December 9, 2011

Suze Orman is a lesbian. She has lots of advice on how expensive it is to raise children. Here, a Christian mother of 8 instructs Ms. Orman on budgeting. We both watched as you were in the middle of counseling a young couple, 29 and 30 years old, who wondered if they could afford to […]

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Deals, Deals, Deals: Hold Off on Christmas Buying

Written by Gary North on December 9, 2011

The deals are still coming. There will be more. If you want a specific gift for someone, OK. Buy it. Save time. But if it’s just a gift in general for someone, the discounts are coming. People have been shopping more than ever this holiday season, largely because of a flood of sales. But Americans […]

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