Category: Z Legacy: Highlight

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This seems to be going well (chart)

September 15, 2014 Santiago, Chile Gallup released a new poll late last week showing how many (or few, as it were) Americans are ‘satisfied’ with the direction of the country. 23%. That’s it. 76% are NOT satisfied. Only 1% aren’t sure. The chart below shows the astounding, long-term decline since 2000. Note, this

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This is why I am so optimistic about the future

February 14, 2014 Buenos Aires, Argentina It’s clear that in today’s world, young people are constantly getting the shaft. Everyone is, really. But in many ways, young people have it the worst. Youth unemployment rates in ‘rich’ countries are shocking. Abysmal. Young people are the last to be hired and the first to

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Breaking Free

One very powerful video I want to share with you

August 1, 2013 Trakai, Lithuania Today is one of my favorite days of the year. If you’re a long-time subscriber, you may know that I hold an annual ‘Liberty and Entrepreneurship Camp’ every summer in Lithuania. This year’s camp starts today. Overall it’s the seventh camp that I’ve participated in, and the fourth

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A colossal (and temporary) buying opportunity

April 11, 2013  London, England [Editor’s note: Tim Price, Director of Investment at PFP Wealth Management and frequent Sovereign Man contributor is filling in while Simon is viewing agricultural property today.] These are certainly days of miracle and wonder. Well, of absurd and extraordinary financial experimentation, at any rate.  Last week, for example, saw the

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This is why you don’t want to move gold yourself…

April 10, 2013 Santiago, Chile A few days ago, Italian authorities stopped a man who was making his way across the border into Switzerland with his wife and three children. They searched his car and found, literally, a ton of gold bars hidden in a floorboard storage compartment. Needless to say, the gold

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When Priced in Gold, the US economy is at Depression-Era Levels

December 31, 2012 Buenos Aires, Argentina As we slide into the end of yet another year in which the nominal price of gold has posted a positive return, I thought it would be interesting to take a look back on history to get a better understanding of where we are today. It’s obvious

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The thriving Black Market for gold

November 23, 2012 Hong Kong [Editor’s note: Sovereign Man Chief investment Strategist Tim Staermose is filling in for Simon today.] The Philippines is richly endowed with minerals.  So rich, in fact, that individuals can make an excellent living by mining illegal claims through dangerous, primitive methods. Like most places, unfortunately, the Philippine government

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More lies about your taxes…

November 19, 2012 Santiago, Chile In 1936, the US government began circulating a series of pamphlets to explain its brand new Social Security program, plus the associated taxes. Initially, the Social Security tax was set at 2%. The government promised it would rise to 3% in 1949, with no additional increases EVER: “[F]inally,

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It’s time to connect the dots

June 29, 2012 Tel Aviv, Israel This week may very well go down as ‘connect the dots’ week. Things have been moving so quickly, so let’s step back briefly and review the big picture from the week’s events: 1) After weeks… months… even years of posturing and denial, Spain and Cyprus became the fourth and fifth

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Gold: volatile or risky?

June 11, 2012 London It’s common in financial markets for investors to conflate what we call ‘volatility’ with what we term ‘risk’. They are not exactly the same thing. More specifically, volatility is an inevitable by-product of investing in a financial market. As JP Morgan (the man, not the bank) once said: markets

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Burma ceiling

Boots on the ground in Burma

May 25, 2012 Yangon, Burma If you’re sick and tired of all the doom and gloom that pervades the US and Europe, and should your personal circumstances allow, I unreservedly recommend that you hop on a plane and go and check out Burma. This is a rare good news story, and it may very well

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Why we’re nowhere near the mania phase in precious metals

May 24, 2012 Lake Tahoe, USA Yesterday was my lucky day. While hiking in the middle of nowhere around Lake Tahoe, I literally stumbled onto a 1-ounce US silver eagle coin, 1996 issue. It was just lying there on the ground without a soul in sight. The coin was pretty muddy, but I managed to

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US CITIZENS NOW ONE STEP CLOSER TO BECOMING PERMANENT TAX SLAVES

US citizens now one step closer to becoming permanent tax slaves

May 22, 2012 Los Angeles, USA This week, the universally stupid brainchild of US Senators Chuck Schumer and Bob Casey known as the Ex-PATRIOT Act inched a bit closer towards becoming law. ‘Ex-PATRIOT’ is an absurd acronym that stands for “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy”. I call it the

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FIVE REASONS TO THINK TWICE BEFORE BUYING FACEBOOK STOCK

Five reasons to think twice before buying Facebook stock

May 18, 2012 Undisclosed location, USA When you think about it, it’s easy to understand why financial markets and media have been so fixated on the Facebook IPO. The creation of so many billionaires and millionaires overnight is certainly cause for good cheer, and given the debacle in Europe coupled with America’s looming

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Warren Buffett: Please go on another anti-gold tirade tomorrow

May 4, 2012 Santiago, Chile Tomorrow morning, an expected 30,000 faithful Berkshire Hathaway shareholders will file into the CenturyLink Center in downtown Omaha to hear their leader wax philosophically on just about every topic imaginable. You have to give credit where credit is due: Warren Buffett is damn good at picking stocks and

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Something is wrong with this picture

April 18, 2012 Madrid, Spain The US Passport Act of 1926 is an obscure piece of legislation that was enacted decades ago when the idea of passports starting catching fire around the world. Subsequently absorbed into US Code Title 22, the law was originally intended to authorize and issue passports for US citizens

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Safety vs. Insanity

April 10, 2012 Singapore The flight from Bangkok to Singapore is a quick 2-hours south down the Malay peninsula… though it might as well be 2-years given their differences; Singapore and Thailand are about as distinct as Switzerland and India– it’s yin & yang. Order vs. Chaos. Safety vs. Insanity. I spend a

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Gold Standard: Are there Currencies Backed by Gold?

Gold Standard:Are there Currencies Backed by Gold? AUTHOR PUBLISHED If you’re here, you likely know your dollar, euro, or pound sterling is little more than paper (or digital) money…  And you know, instinctively, that this is not a good situation for your hard-earned cash. Why? Because these currencies are not backed by a

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Five things you need to know before filing your taxes

March 22, 2012 Santiago, Chile If you’re a US taxpayer, you’ll want to heed the following before dropping off your 1040 this year. You see, in 2010, Congress and President Obama passed a series of new rules known as the Foreign Account Tax Compliance Act, or FATCA. FATCA affects every US taxpayer who

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Italy to launch Skynet tax collection system after 197% YoY borrowing increase

March 21, 2012 Santiago, Chile This is something out of an Orwellian science fiction movie. The Italian tax authorities are now field testing a new system called ‘redditometro’, a database that automatically collects and analyzes taxpayers’ tax data vs. spending data based on automated collection of credit card and banking information. For example,

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What is President Obama so afraid of?

March 20, 2012 Santiago, Chile Quietly, and with little fanfare, President Obama signed a “National Defense Resources Preparedness” Executive Order on Friday. As the name suggests, the order intends to shore up the country’s national defense resources in advance of a national emergency. To be fair, this is not the first time that

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Hugo Chavez: Fighting crime by disarming innocent people

March 6, 2012 Caracas, Venezuela With an annual murder rate estimated as high as 67 homicides per every 100,000 inhabitants in his country, Hugo Chavez is about to show the world that he’s tough on crime. At least, the non-governmental kind. Chavez’s government claims that 98% of the homicides in Venezuela involve firearms.

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Because you just never know what stupid rule tomorrow will bring…

March 2, 2012 Santiago, Chile When I was a kid, I remember watching that Schoolhouse Rock cartoon about how a bill becomes a law. That single cartoon probably brainwashed three generations of children into believing in the checks and balances fantasy of the US federal government. The reality is what we see everywhere

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Desperate British government launches task force against Flea Markets

Date: March 1, 2012 Reporting From: Santiago, Chile   Earlier this week, the British government announced that Barclays PLC, one of Britain’s oldest and largest banks, was facing an $800 million penalty for engaging in a tax avoidance scheme. Barclays had been exploiting loopholes in legislation in order to avoid paying a higher tax

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Guest post: The existential financial problem of our time

February 28, 2012 London, England [Editor’s note: Tim Price, a frequent Sovereign Man contributor and Director of Investment at PFP Wealth Management in London, is filling in for Simon today.] In December last year, the poet Alice Oswald withdrew from the TS Eliot poetry prize on the grounds that the prize was being

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Guess who folded now?

February 27, 2012 Talca, Chile Banking privacy is dead. Completely, totally dead. Murdered, really. The US government is the assailant, and FATCA is the murder weapon. We’ve talked about this a few times before– FATCA is the heinously insidiously piece of legislation that the Honorable Barrack Hussein Obama passed into law in 2010

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Does renoucing US citizenship get me out of my tax obligations?

February 24, 2012 Santiago, Chile I want to start off today’s letter by thanking the 120+ folks who’ve made the journey down to Chile over the past two weekends to break bread on the farm. Last weekend’s event was a real delight, and I’m looking forward to tonight’s festivities with the new group.

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Freedom*

February 22, 2012 Santiago, Chile “[T]he more complicated the forms assumed by civilization, the more restricted the freedom of the individual must become.” Benito Mussolini Grand Fascist Council Report, 1929 When I was a kid, the morning announcements at my taxpayer-funded public school dragged on for a good 15 or 20 minutes. They

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In case you’re wondering why I spend so much time down here…

February 14, 2012 Talca, Chile One of the local papers here in Chile ran an interesting story a few days ago about the number of young Spanish immigrants coming to Chile in search of work. Fed up with the ridiculously high unemployment rate in Spain, and tired of being shut out of every

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WTF, Warren Buffett?

February 13, 2012 London, England [Editor’s note: Professional money manager Tim Price is filling in for Simon today from London. His thoughts below on gold, bonds, and the false pretext of investing in equities is delightfully insightful.] For value investors of a certain age (e.g. mine), discovering that Warren Buffett could be wrong

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Friedrich Hayek on our “Dictatorship of the Proletariat”

February 10th, 2012 Santiago, Chile One of the greatest thinkers of all time was Austrian economic Friedrich Hayek, and his work The Road to Serfdom is an absolute must-read. Hayek’s writings are incredibly powerful in these times. In light of the countless recent examples of governments changing the rules whenever/wherever it suits them

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Is gold a bubble?

February 9th, 2012 Santiago, Chile After more than a decade of year-over-year appreciation, many people are wondering if gold is just another bubble waiting to burst. No commodity or asset class in our historical record has ever shown such long-term growth, and consequently the “B-word” is being tossed around regularly in financial media.

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Kazakhstan adds to its gold reserves. Very nice!

January 30, 2012 Nassau, Bahamas Here’s something unexpected. According to IMF data, the central bank of Kazakhstan recently purchased 3.1 metric tons of gold, increasing its reserves by 4.2%. In an even more stunning development, Mongolia’s central bank purchased 1.2 metric tons, increasing its reserves by a whopping 52%. To be fair, 4.3

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Guest Post: How money can buy you happiness

[Editor’s Note: Simon’s friend Craig Ballantyne is filling in today to talk about the importance of the internet in generating independent income] In the late 1970’s one of my best friends and his family escaped from Armenia, then under communist rule. In fact, his father bought their way to America via Italy, eventually

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