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The week just gets more interesting with every passing day, with a lot happening in these final two days that could help determine the direction of the markets.
We’re looking at European Central Bank action today, as you read this: a possible interest-rate decision and a press conference by Mario Draghi, the ECB president.
The key U.S. jobs report, the August employment numbers, comes out tomorrow. The consensus estimate is for the report to show an increase of 225,000 jobs. Both Goldman Sachs and Merrill Lynch are expecting the unemployment rate to fall from 6.2 percent to 6.1 percent.
President Obama, after speaking in Estonia yesterday, is attending a NATO Summit in Wales today and tomorrow, along with Secretary of State John Kerry and Defense Secretary Chuck Hagel. This was planned before reports of a cease-fire agreement between Ukraine and Russia surfaced yesterday, but uncertainty remains in the region.
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| President Obama bids to reassure NATO allies during speech in Estonia yesterday. |
There is always a risk of some boneheaded move when these multinational summits convene. At a summit last weekend of European Union leaders, talk has centered on upping the sanctions on Russia.
A package of sanctions under discussion, according to a Reuters report, centered on forbidding Europeans from buying government bonds. So the bureaucrats of a Continent dependent on Russian energy thinks it can cut Russia off from the bond market, but it believes that natural gas will continue to flow.
To shine a spotlight on the foolhardiness of their proposals: They reportedly include restrictions on the sale of equipment and technology in the natural gas exploration and production process.
Sure, shut off the means of energy production, cut off the flow of equipment to the world’s largest exporter of natural gas and second largest exporter of oil, and watch the lights of Europe slowly dim.
Keep a close eye on these meetings and agreements.
In Washington news, Congress is still away until next week. By the way, it is September now and the fiscal year ends at the end of the month.
While the statutory debt ceiling was suspended earlier this year until March 15, 2015, the government’s spending authority runs out on Sept. 30.
So the question about the national government’s spending addiction and borrowing limit will play a part in the political debate this month.
Republican leadership wants to simply pass a continuing resolution kicking any debate about spending down the road until December. Their objective is to get any serious debate deferred in this until after the November election.
They believe they have Obama on the ropes and expect the elections to go their way as a result, and don’t want the subject changed until after the votes are counted.
Indeed some Republicans would like a spending resolution to see them through January when the new Congress, presumably with both houses controlled by Republicans, is sworn in.
And then there’s this tidbit: It now costs more to give up your American citizenship after the State Department decided to charge more for you to do so. It has raised the fee from $450 to $2,350. Extra workload and demand for the service at the State Department, you know.
A writer at Forbes says that “it’s not exactly Ellis Island in reverse,” but a record number of Americans are renouncing their citizenship. The number was up 221 percent last year.
What are your thoughts on the growing number of Americans giving up their citizenship? Have you thought about it, or do you know someone who has given up theirs? Feel free to comment on these or any other issues. Click here to participate in the discussion.
Best wishes,
Charles Goyette
P.S. Martin will host his 2nd video briefing today at 12 noon EST! Please click here now to watch! AND if you missed his first briefing you will be able to catch up on that as well!
Charles Goyette, who more than 25 years ago arranged for a then-little-known Texas congressman named Ron Paul to be a keynote speaker at a series of his monetary conferences, is the editor of the Freedom & Prosperity Letter and the Extreme Profit Hunter. A public figure, Charles has been a participant in the national political debate as a radio talk-show host, writer and speaker. He is often called upon to share his views with national television audiences, including Fox News, CNN, MSNBC and PBS.
The longtime Libertarian also has written for magazines including The American Conservative. He is the author of The New York Times bestseller “The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, and Other Unconventional Investments.†His newest book is “Red and Blue and Broke All Over: Restoring America’s Free Economy.â€
{ 38 comments }
Who is John Galt?
In a Motel 6 with Ayn Rand
Where are they going? Is there a trend?
It costs about 15000 dollars to apply and get a Greencard (all fees included) It costs 450 dollars every 10 years to renew it. Now it costs 2350 dollars to renounce your citizenship. Wow, the land of the free. I left in 2013 after having spend 25 years in the USA. Like most people who have left, I did so before it would be too difficult to do so. 1932 to 1939 all over again.
the way I see it is this. If you don’t like what you see here get the funk out we don’t want you here
if u do like what u see,maybe you are not getting the news, that counts..
I gave up my citizenship in 2003 after Bush and his cohorts invaded Iraq under the pretense Saddam was developing weapons of mass destruction, and to this day none were ever found. Oil was the only reason for this action and as result the situation is far worse now than it was during Saddam Hussein’s terror reign. Don’t get me wrong, I don’t like dictators; but it is now getting to the point that the USA could have a dictator in a very short time.
I served my country during the Vietnam War and was proud to do so. Forty years later I
often wonder what has beome of the land of the free and the home of the brave. Our founding fathers would turn over in their graves.
This is a free country, so far!
This is what the foundation of the country is based on. If the governing bodies were not always trying so hard to figure out how to take your hard earned dollars, trying to cover up their agendas in phony legislature, flat out lying to the people and would spend as much energy with the matters at home as they do pissing on each other Dems this, Reps that, etc., people would not think of leaving.
If they want to go them let them! Who cares? They are not the problem at hand and are peons in the scheme of things in the big picture. Focus on the immigration issues, fire and punish corrupt leaders, fix the infrastructure of America instead of destroying other countries. For the people by the people!
kind of oxy-moron.free then list the reasons it is not.
To those who are giving up their U. S. citizenship, I can only say, “Good bye, good luck, and good ridance.”
There needs to be reform on the crony capitalism. Even Jim Rogers has left for Singapore. The free market will get the best of breed.
Shows how much emperor obamma and his policies, actions and record is resented.
i do not have anyplace to go.
t.parker
NUMB AND DUMB
Relocations are not a simple matter and its a bit of a crap-shoot, as well. You can move anywhere in the U.S. or Canada, but what do you gain and what do you trade off with incomplete knowledge and constantly changing circumstances? Some country’s offer great long term economic potential if you are young, probably more than anywhere in North America. However, a cautionary note about Anti-Virus founder and magnate John McAfee.
He moved to Beliz because he liked the climate and recreational lifestyle. Beliz used to be a pirate hideout back in the 1700’s. The British Navy had problems with them. So, their whole indigenous population are decendents of cutthroats. Keep a place’s history in mind. People don’t change. This is still a very traditional world where races, tribes, religion (Islam), and blood relations trump nationality or “political correctness”.
Unfortunately for John, he forgot to look hard at a country’s people and history, not just its scenery or habitat ( scenic beach photos). Beliz, as it turns out, had some deep, dark, secrets hidden away in its jungles. Beliz is terribly (officially) corrupt and at times violent (lawless) and in the end, John McAfee had to flee for his life. He lost everything in the process except “the shirt on his back”.
John McAfee will recoup a few million dollars with a book deal and some ventures. Guys like him always land on their feet like a cat and have 9 lives. Next time, he says its going to be somewhere in Asia, but not (Latin) America. We will see where John ends-up. Make a wrong turn and it could be your last. Nobody will help you if you get in trouble, especially overseas. You could die there. All things being equal, I prefer Forest Lawn Mortuary in Southern California and its pleasant cemetery to a hastily dug hole in the ground on foreign soil somewhere overseas.
If the U.S. goes down like Argentina with a debt/currency collapse, then we probably can expect someone to “clean our clock”. Russia + China are just waiting for the right moment to make a first strike against the U.S. In these dangerous or “interesting times” you won’t get a second chance if you let your guard down too long, as we are currently doing. Then, the whole planet falls into a new paradiagm: The Predator Paradiagm where conquest again becomes the primary modus for adding wealth and absorbing weaker sovereigns in a single bite.
Mr. H. Craig Bradley is correct and as a black man American I can say his statement is very true, My Dad ( RIP ) being from the Korean war who raised me use to speak of things of what’s to come and since his passing I 2005 I see more and more of things to come to pass as this man have said here – WOW ! ” NUMB AND DUMB “
With the current state of politics and the graft that is endemic in it in the USA; I am not surprised that people are giving up US citizenship, especially if they are resident outside the USA. Why pay taxes to the USA for no benefit? I have decided that the USA is off my “countries to visit” list now. I would hate to inadvertently have an unpleasant experience at the hands of your police or some clown with a gun who still thinks that he lives in the Wild West of yesteryear.
Hi!, Weiss Research:
What criteria should be used, in order to qualify anyone living in the US as being a citizen of America? Is the unconstitutional use of fiat money a quality induction of sources of income for the common citizen of this country or is it illegitimately used against citizenship? Is the abusive powers of government oversight of everything anyone living in the boundaries of the US give credence to being a citizen of the US or does such abuse renounce our being a US citizen conclusively in and of itself? It seems to me that feeling like I want to consider myself a citizen for all the reasons given me by the US Constitution may haunt my basic patriotic consciousness, that alone does not seem to give me the ability today to see myself through the eyes of my all seeing and controlling government as being a true citizen living in a republic for which my US flag use to stand. To abuse OUR National Flag with comments such as that we now live in a democracy rather than a republic repulses me to the bottom of my heart and distorts my thinking processes regards how we use to live in the America of my childhood past. This haunts me that we need to resurrect OUR past and live FREE from harsh government interferences including the obvious, underlying destruction of OUR nations currency we call inflation that raised my prices shopping wherever I go to shop etc. So, whenever someone renounces their citizenship are they not only computing and announcing what has already happened to them through coercive government actions from which they want to flee? What we the people really want is for our protests against our long lost citizenship to be heard, understood, honored and proactively acted upon and nothing more or less in my opinion.
RUSS SMITH, CA. (One Of Our Broke, Fiat Money States)
resmith1942@gmail.com
Cowardice is not a trait admired by anyone. Cutting and running from the USA due to dissatisfaction with what is occurring in the country or for financial reasons is characteristic of that. If one is not happy with events or issues in the USA then work to change it by influencing others, voting, working in the electoral process and offering constant prayer if one is religious. That takes courage and stamina. The degree of difficulty with an issue is usually directly proportional to the degree of correctness and effectiveness of the course to take.
What to keep citizens from leaving the USA? and end tax inversion too?
Do what is best for all U.S.A. citizens. Reclaim our freedom, liberty and civil rights as protected by our original Constitution! …Repeal the 16th Amendment…Stop direct taxation on our jobs and our income…End the IRS…End tax withholding. The solution is the FairTax® bill HR25 / S122 and not the flat tax that still needs the 16th Amendment, direct taxation, the IRS, payroll taxes and tax withholding. Learn more, register your support and contribute at fairtax.org.
Can’t say I blame them. The U.S. govt is hellbent on getting all they can wherever you are in the world. We are already screwing the world, why not our citizens elsewhere in the world, so our govt can just keep on spending so this house of cards with the central bank and govt doesn’t collapse.
Cowardness , self serving, greed, and negative moral judgement is the cause of giving up ones’ U.S.A. citizenship. I deal with 146 churches of all denominations in my area. Of the 146 churches, 140 of them do not want to have anything to do with putting anything religious on public property such as a banner that says ‘Merry Christmas’, putting up a Nativity Scene or get involved publicly in moral controversy. It is no wonder that 70% of the young people leave the church permanently once they graduate from high school. Our 1st. Ammendment of the US Constitution is in grave danger. This also is directly connected to giving up ones’ US Citizenship and jumping ship for self preservation .
My neice was born in the US but lived her entire life in Austalia. She and her husband are young professionals just starting out. The Australian govt has allowed her bank to give her up, as a US citizen with a bank account abroad. Now on top of paying her Aussie taxes, she (and her Aussie husband since it is a joint account) have to pay US taxes. Her friends told her to “give the US the flick”. At this point, her citizenship feels like punishment.
Giving up US citizenship is a very dumb move.. Obtaining dual citizenship is/would be a smart move. There are many tax delay defer, or tax free investments available. Just takes energy and searching to fully understand your options.. Short term monetary gain, long term loss of a certain security in an uncertain world.. Very foolish.
I have seriously thought of moving to a country in Central America. The major thing holding me back is medical costs since Medicare and my Supplemental do not pay.
Well, don’t we all just want to pack up our dollars and run! We hardly recognize the United States of America today, so Flight or Fight?
Albeit we are experiencing shades of pre-WWII Germany, where Jews faced the same decision, flight was the best choice for them in retrospect. For pre-Revolution colonials, fight was the best choice in retrospect.
We find ourselves at that point of decision today: save our country from its infestation of un-American and incompetent government or leave it to the dogs? America has become a dumbed-down, complacent welfare state living comfortably in denial of evil (two thirds) but one-third is honorable and wants to save Her for the sake of Her historic Goodness and for our children and grandchildren. We cannot take our material wealth with us into eternity, but we can take our unselfish acts and love of our Creator with us. So, for the sake of all that is good and true and beautiful about this country, for me and my family, we will serve God who sent His Son to die for us, and fight the liars, haters, thieves, and murderers who are trying to destroy us.
I say, “Let the door hit them in their a_ _ on the way out” !
“Liberalism is a form of insanity.” It is impossible to reason or even have a discussion with an insane person. CA is the best empirical evidence of that as it has been run by them for many years now. It is rapidly becoming, if it is not already, a “failed state,” and “as CA goes so goes America.” The reelection of BHO and the very likely election of Hillary seals our doom. The “fundamental transformation of America” is going on all but unabated. Our Constitution is one Supreme Court Justice away from being effectively destroyed. If a person has a needed skill, and/or a lot amount of money they may be able to get into New Zealand? Go if you can!
The US was founded on the principle of freedom of migration (immigrate to and emigrate from) in order for those willing to risk everything (life and whatever wealth they might have) to gain freedom of opportunity and freedom from government and the corruptions of power of government and elites. They founded the only country in the world that became governed by the Middle Class (economic and social). The US condemned the Soviet Union in the 1980’s for not allowing people (Jews in particular) to emigrate. The Soviets compromised by allowing emigration but only if they paid a confiscatory tax. The U.S. condemned them for that as well, especially since such restrictions violate the United Nations charter as well as our historical values. It would appear to me that those who want to emigrate from the U.S. are not fundamentally different than the pioneers who came here or economic and civil freedom and left their corrupt countries controlled by elites (authoritarianism) or the mob (socialist democracy) who preserved privilege and reward (cronyism) for themselves, denied opportunity based on merit and effort, and destroyed the very principles of individual liberty governed by moral restraint (the the libertinism promoted by hedonists and all too often by so-called libertarians). Although one can measure the decline of a society by its legalism and, as a corollary, by the number of legalists (e.g., lawyers and government bureaucrats), all societies must possess a moral order (largely derived from religious philosophy) to regulate acceptable behavior, ethics and responsibilities. Modern liberalism is destroying all of the moral, religious, political, economic and and social principles that made this a great nation worthy of doing one’s duty and risking one’s life, fortunes and honor (such as I have done). Under such circumstances, one can escape and emigrate, exercise the right of the People to alter or abolish such government (engage in revolution per the Declaration of Independence), or attempt to make changes through the accepted political process. Historically, once corruption, decadence and degeneracy have reached a certain level, the latter approach has a low probability of success. One thing is certain: those who wish deny freedom to others to make responsible life choices in the American tradition are guilty of the greatest hypocrisy.
Oops, I obviously meant to say “a large amount.” That is too, if “our” corrupt government will even allow you to take YOUR money with you? We appear to be on a similar path that the Bolsheviks and Nazis took in taking over their countries. Folks, this is not a joke!
Amerika became great when it attracted brains and money. The once who are leaving now are exactly those two. Dear Richard, you can dismiss it as much as you want. 2000 years of history has shown, that the end result of this is never positive for the once staying. If you cannot find a way to reverse this trend, then the result is a foregone conclusion.
Although I did not live in Germany during the days of Hitler, I see similar trends like charging you to renounce your citizenship, talk of taking your retirement accounts and putting them into US bonds, capital controls by the IMF and the police state we have become with the Pentagon giving “surplus” military equipment to the police departments all over the country. I am thinking of going while I can. It disturbs me greatly than both parties cannot solve our problems and seem only to bad mouth the other party.
I am an American, working as a civilian for US military in Germany. There are so many retired Americans living here and loving it. They’re patriots and don’t consider giving up their US citizenship, but at the same time, they’ve come to enjoy the fruits and benefits of living here. German law is strict vs US laws but make sense. Americans that live here find out quickly that this is not Kansas. If their child gets hurt on a playground, or a theme park, the Americans complain that they cannot suit the ownership, because German law doesn’t allow these frivolous lawsuits that shabby Americans have grown rich on. Many Americans put their children into German schools because the German education system doesn’t just “pass” students through, like US schools do so they can pad their statistics. These American patriots that live here don’t have to endure the crime that most folks in America must face on a daily basis. I have neighbors that keep doors unlocked, open garages, and haven’t seen a policeman in months. All of you haters out there towards your fellow Americans that want to give up their citizenship, well, you need to step outside the walls and look around the world. America is a country that is failing you, your kids and your grandkids. America is a great country, but for how long? Give your fellow citizens a break and wish them well, instead of being so obstinate about it.
If you do not live in the US. I can only see a penalty, in holding a US Citizenship.
Remember that which goes up the fastest, goes down the fastest.
I was born on the East Coast of Canada, now live on the West Coast, The East Coast has racial problems due to history, The West has no historical racial problems except for – Native Indians? and has adapted well with the inclusion of people from India and especially Asia..
Power has moved from the East and Central Canada to the West.
The World’s greatest threat, is the lies, that Traditional Religions and Government has perpetrated upon it’s people..
Four of the Greatest Lies are:
When the body you were given dies, you also die.
Life is unfair.
Their is a Heaven, where all is easy, and a Hell where all is pain.
We are made in the image of God, thus God is inflicted with Man’s imperfections.
America, based on the Constitution, is as dead as Grant or even Nixon. It is now Germany, 1937 redux. Best to get out while the getting is good. Paying to renounce your citizenship, what a farse of a bankrupt government. Read and practice the Declaration of Independence, no one paid King George a dime!!!
And yes, I practice what I preach, having left the USSA three years ago and now live as a citizen of the world.
Despite many good people in the US this country is not my choice. I am glad I never became a citizen of the USofA. If there were not a few strings attached I would already be out of here.
The US does not have a good reputation around the globe though she is still better than most countries. People all over still have the image of the US from better times. They don’t know how oppressed life has become, how mean and arrogant the money elite is and how little interested politicians are in doing something good for the little guys.
I had just to deal with Immigration Services. They let me feel that I am just a nuisance in their comfy day.
Americans should have the right to give up their US citizenship just as emigrants who come here are doing. US should not make it difficult. Many of us or our relatives came here for new citizenship, as my wife did in 1950’s.
Is it any wonder that many people are considering leaving the country . When I was a kid in the late 1940’s and 1950’s , we were respected and admired by a high percentage of the world . We were a role model for others. But since then our country is rapidly going down hill . I was in the Navy for 4 years in the early 1950’s , When our ship was in port , we sailors would get drunk and chase women BUT ……….no one ever did drugs . In some foreign ports we were offered marajuana but not one of us ever bought it and tried it . It seems since the 1960’s with Hollywood promoting it in films and music , the Hippie generation suddenly became ” cool ” . Even the C.I.A. joined the party and peddled hard drugs in order to bolster their bank accounts .
The loveable ” Democratic ” U.S,A, since 1950 has threatened , intimidated , bombed and invaded well over 30 poor 3 rd world countries who were no threat to us . In the process millions died under our Weapons of Mass Destruction . We have troops based in over 130 countries around the world but none on our own borders . I recently returned from Europe and was shocked to see a fairly high percentage of Muslims and African Blacks in all the larger cities . As in the U.S. with our open borders , it seems the New World Order plan is to Bastardize the White race . I have nothing against the Hispanics , I studied Spanish and have absolutely nothing against the Muslims , I sponsored Naval Officers at the Naval War College in Newport , R.I. …..3 out of the 10 Officers I sponsored over a 10 year period were from Muslim countries , Turkey , Morocco and Algeria. . But it is wrong to introduce a high percentage of a different race or culture into ones own country which is White Anglo Saxon.
Then we have our ” Public Servants ” in Washington who do the bidding of the Corporate world and ignore the wishes of the tax paying citizen voters. , they are bought and paid for Ho’s . Magna est Veritas Amerika , Pax Vobiscum
Oh, what to do!