Who knew? …

... well, Chris Ferrrara knew, because that's where I discovered this little oddity on my way to finding something else. Did you know that according to British Common Law, money deposited in a bank is not your money? A bank deposit is not a "bailment" (an entrustment of your property to the bank for safekeeping) …

Good News for the Grandchildren

Here's a wonderful excerpt from David Einhorn's speech at the Ira Sohn Investment Research Conference. I have titled today's talk Good News for the Grandchildren. By that, I mean that I do not believe that there is a need to worry that today's debts will be passed on to our current youth...I believe the government …

Another Word on Retirement Funds

Yesterday I posted something I considered quite ominous about the FDIC's involvement with private citizen's IRA funds in relation to their takeover of the failed 1st Regional Bank of L.A. Turns out there's more to the story. Today former congressman Bob Bauman wrote a blog post delineating some other even more ominous items in relation …

FDIC: Now in the IRA business

Last Friday the FDIC shut down First Regional Bank of LA (along with 5 other banks that day). The "traditional assets" were sold to First Citizens bank of Raleigh, NC, but the FDIC chose to maintain control of all the IRAs that 1st Regional held on behalf of its customers. Up until now retirement funds …

Not Very Secure

I've been warning my readers about the falling dollar for some time. Even Linus VanPelt understands the danger of the dollar and wants his hard assets back:

Land of the Less Free and Home of the “Whatever”

Anecdotal evidence indicates Americans who are able are leaving the country in droves. Among those that are leaving, a significant percentage are also expatriating (that is, giving up the U.S. citizenship). The eastern Caribbean country of St. Kitts/Nevis, which has for years had an economic citizenship program (ie, a way in which a person can …

I Highly Recommend This Article on Economics

I know several of my readers read Gary North's newsletter. I also know that at this point some of my readers will roll their eyes and smirk because North has had some famous predictive misses, the most infamous being his prediction of a Y2K disaster. He moved to the back woods of Arkansas and stocked …

The Kiss of Death?

[P.S. (I guess this is a "pre-script"). Dot5 Hosting, my hosting site, was down yesterday. I wrote this post Thursday morning (Oct. 1) about an hour before the markets opened, but have been unable to publish it. The S&P dropped 27.23 yesterday – over 2.5% – a massive freefall. We'll see what happens today.] I …

Derek and the Bad Men, pt 2

One of the more memorable evenings of my life was spent with Derek Sambrook and his family in a downtown motel ballroom on a steamy hot night in Panama City, Panama ... This is part 2 of 2 posts that offer my favorite story from Panama. In this post I reflect on an article Mr. Sambrook recently wrote.

Derek and the Bad Men, pt 1

One of the more memorable evenings of my life was spent with Derek Sambrook and his family in a downtown motel ballroom on a steamy hot night in Panama City, Panama ... This is part 1 of 2 posts that offer my favorite story from Panama along with a word of warning.