Yesterday, the IRS announced the International Data Exchange Service. If you’ve not heard of it, it’s is an outgrowth of the Foreign Account Tax Compliance Act (FATCA), which requires every single bank in the world to get in bed with IRS to share information about customers. We’ve said this over and over, FATCA is probably the dumbest law in the history of the United States. And we don’t say that lightly, because there’s definitely stiff competition. Like any other bankrupt government, the US government has taken to intimidating its own citizens and the entire world in an attempt to make ends meet. But the fact is that tax revenues actually haven’t improved at all. It doesn’t take a rocket scientist to realize that the rest of the world is one day going to create its own alternative system. One that would no longer rely on the US dollar.
While the Affordable Care Act fines those who don’t have health insurance, it also provides subsidies for people making up to four times the federal poverty line ($46,680)… but, as The Washington Examiner reports, the subsidies are based on past tax returns, so many people may be receiving too much. In fact, as H&R Block calculates, as many as 3.4 million people who received Obamacare subsidies may owe money to the federal government.
A week ago, when we reported that in a stunning move, the “Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed“, and when looking at the NY Fed’s monthly reports of gold deposits by foreign entities, we observed that “we can see that while the 5 tons outflow in 2013 was most likely Germany, the recent surge in gold repatriation from Liberty 33 was the Netherlands. That said, only 77.5 tons of NY deposits gold has been officially repatriated through September, which means the October update, when it comes out, will be a doozy.” Yesterday, the long anticipated October update of “earmarked gold” held on deposit at the NY Fed was released, and sure enough it did not disappoint. Declining in dollar value from $8.305 billion to $8.248 billion, this was the equivalent of 42 tonnes of gold being withdrawn, in the process reducing net gold located in the vault of JPMorgan the NY Fed to 6,076 tonnes. The 42 tonnes withdrawal was also the biggest single monthly redemption from the NY Fed since 2001.
So with the 119 tonnes of gold withdrawn so far in 2014, it is now abundantly clear that the “logistical complications” excuse used by Germany to halt its own gold repatriation program was nothing but a lie to cover up what, as Deutsche Bank explained earlier this month, was an escalation of “diplomatic difficulties” between the US and Germany, one in which Germany has folded, if only for now.
Surrounded by radiation belts, Earth is being protected by an invisible shield that stops high-speed “killer electrons,” scientists have found after taking a closer look at the Van Allen belt 7,200 miles above our planet.
“Somewhat like the shields created by force fields on Star Trek that were used to repel alien weapons, we are seeing an invisible shield blocking these electrons,” the study’s lead author, Daniel Baker of the University of Colorado’s Laboratory for Atmospheric and Space Physics explained. “It’s an extremely puzzling phenomenon.”
This previously unknown phenomenon has been discovered by probes aimed at examining the so-called Van Allen belts, zones of donut-shaped rings around our planet.
Until March 2013, scientists assumed there were only two belts, filled with high-energy electrons and protons, surrounding Earth.
The Internal Revenue Service may have given thousands of confidential filings from private taxpayers to the White House to review, a lawsuit against the Treasury Department just revealed.
The suit, filed against Treasury’s inspector general by Cause of Action, a legal advocacy outfit, reveals a steady stream of communication went on between the White House and the IRS — a potentially “improper” stream, the group alleged, The Daily Caller reported.
Hacktivists aligned with the Anonymous movement have published credit card numbers and other personal information allegedly belonging to a leading Ku Klux Klan member amidst a grudge between the groups fueled by recent protests in Ferguson, Missouri.
Members of the loose-knit hacktivist collective have taken aim at the Klan in recent weeks after the KKK threatened to use lethal force against demonstrations descending on Ferguson to protest the August 9 killing of unarmed teenager Michael Brown by local police officer Darren Wilson. The feud between the groups has only escalated in the days since, though, and now Anons are circulating what they claim to be sensitive details about a powerful Klansman and his family.
Through a Twitter account formerly associated with the KKK but compromised by Anons earlier this month, hacktivists posted on Wednesday this week a trove of data purported to pertain to Frank Ancona, the self-described Imperial Wizard of the Missouri-based Traditionalist American Knights of the Ku Klux Klan.
Scores of Army National Guard and troops and police gang up to arrest protesters in street
(Video Source: DAHBOO7/YouTube)
FERGUSON, Mo. (INTELLIHUB.COM) — Youtuber DAHBOO7 managed to capture priceless video footage, on scene, as hundreds gathered on a city street, protesting the non-indictment of officer Darren Wilson, the cop who shot and killed 18-year-old Michael Brown.
“Oh crap, here they come”, DAHBOO7 said, referring to the military and police gathering in an adjacent parking lot.
“They thinks it’s a game”, yelled protesters loudly in the street.
“Who’s streets. Our streets”, they chanted. “Not the police streets”.
Then, about 4-minutes into the video, the protest suddenly takes a turn for the worst.
“Oh they’re chasing em’. Oh Shit!” DAHBOO7 says.
At this point, the military and police call out on a loud-speaker, “You are in violation of state law. […] You are subject to arrest.”, before charging peaceful protesters in two and three-man groups.
“On your knees. Let’s see your hands”, Guard members call out, detaining members of the public in a true ’1984′ fashion.
Soon dozens were arrested, tied, and carried off by both the police and Army National Guard troops.
Hundreds of people have gathered near the Scottish Parliament at Holyrood with St. Andrew’s Cross flags, music and speeches in a celebration of Scottish nationhood, amid continued demands for independence as St. Andrew’s Day celebrations got underway.
Poetry recitals, speeches and songs were on the agenda, as people wrapped themselves in flags and “Yes”-related paraphernalia. Even the blue Estelada could be seen among the crowds to show a degree of solidarity between various independence movements in Europe.
Even dinners will get more ‘romantic’ in the future …
SINGAPORE: Restaurant-goers in Singapore can expect to be served by autonomous flying robots – the world’s first commercial attempt – by the end of next year.
Infinium-Serve, the autonomous flying robotic waiters, will be first launched at one of Timbre Group’s five outlets in Singapore. Infinium Robotics CEO Woon Junyang estimated the project to cost a “low seven-figure sum” for the five outlets, subject to final negotiations and certain variables of the actual deployment of the robots.
Infinium Robotics signed a Memorandum of Understanding with Timbre Group on Oct 31. Both companies are seeking productivity-related government grants to help offset deployment costs.
A little over a year ago, we presented a “Yellow” asset, which was “the best performer of the past year.” It wasn’t gold: it was yellow cab medallions. As we wrote then, “the best returning asset class traded in the NY Metro area is yellow but doesn’t change hands on Wall Street…. over the last 12 months New York City taxi medallions have risen 49% in price, besting the relatively humdrum returns of the S&P 500 (up 21%), the NASDAQ (22%) and the Dow (18%). Medallions – essentially the right to operate a for-hail taxi in New York City – now trade for as much as $1.3 million, an all-time record.” In retrospect it was also the perfect time to cash out on the “yellow” euphoria. According to the NYT, “the average price of an individual New York City taxi medallion fell to $872,000 in October, down 17 percent from a peak reached in the spring of 2013, according to an analysis of sales data. Previous figures published by the city’s Taxi and Limousine Commission — showing flat prices — appear to have been incorrect, and the commission removed them from its website after an inquiry from The New York Times.”
Egypt’s former longtime ruler Hosni Mubarak was cleared of charges in a retrial Saturday and could soon be released — a stunning reversal for a man who faced life imprisonment or worse after a revolution toppled him in 2011.
A Cairo judge dismissed charges linking Mubarak to the deaths of hundreds of protesters during the 2011 revolt and found him not guilty of corruption.
Mubarak, who ruled Egypt as president for 29 years, was stoic as his supporters in the courtroom cheered the decision that capped a months-long retrial. The 86-year-old, reclining on a hospital gurney in a defendants’ cage, nodded while fellow defendants kissed him on the head.
Egyptian police in Cairo have used water cannon and tear gas against hundreds of demonstrators protesting against the acquittal of former president Hosni Mubarak by the local court.
According to Reuters, security officers also used birdshot to disperse the crowd.
RT’s Bel Trew reports from the Egyptian capital that live fire was allegedly applied by the police.
There are also unconfirmed reports that one person was killed in the clashes.
The police, who earlier promised to refrain from violence, released a statement saying that the use of force was justified, as members of the banned Muslim Brotherhood organization have infiltrated the ranks of the demonstrators.
Over the years, I’ve heard dozens and dozens of officers state that they will come to the people’s aid “when the time is right.” Until that unspecified time, the officers will just simply follow the orders of their betters. What exactly constitutes the right time?
Is it when departments are simply too busy to investigate thousands of rape cases?
Is it when the bodies of unarmed men, women, and children are piling up faster than we can report on all of them?
Is it when cops are arresting pastors and taking food from the mouths of the poor?
Is it when law enforcement opens fire on unarmed protesters?
Is it when it becomes common practice for officers to engage in blatantly unconstitutional activities?
Is it when officers enforce a soft form of martial law?
Is it when officers beat children in schools?
Is it when American citizens are getting locked up faster than people in Stalin’s Soviet Union?
Is it when every department in America is turned into a goon squad, even those at our children’s schools?
Health News Agency reports snow in 16 provinces, Western and Eastern Azerbaijan, Ardebil, Iran, Gilan, Lorestan, Iran, Bakhtiari, kohgiloyeh, Persian, Kurdish, Qazvin, Kermanshah, Kerman, and Zanjan, which has caused problems for people.
160 cars had been stuck in the snow, but were released by rescuers.
93/09/08 – 10:38 – I double checked the date on the Iranian calendar converter, the eight day of the ninth month (Azar) of 1393 is November, 29, 2014),” says Argiris. “Searching in Persian (Farsi) language, you find a lot of recent news articles about snowfall in Iran. But on the English language Iranian website http://www.presstv.ir/latest.html you can search for “snow”, only to find news about snowfall in the United States.”
A University of Windsor anti-cancer crusader may have discovered his most effective agent yet — a fruit that causes evil cells to commit suicide.
Dr. Siyaram Pandey, known for promising work on dandelion root extract, is thrilled with results from his initial research on long pepper fruit.
“It is very potent, which is surprising, actually,” said Pandey. “I wouldn’t be exaggerating to say it’s a little bit better than dandelion root extract.”
A compound from the long pepper fruit was first identified in the 1960s, but was then forgotten for decades until researchers at Howard University in Boston published a paper in 2011. The Bostonians screened 25,000 compounds for possible cancer-fighting properties and listed piper longum — or long pepper — at the top.
“America has no higher rate of social mobility than medieval England, Or pre-industrial Sweden,” he said. “That’s the most difficult part of talking about social mobility is because it is shattering people s dreams.”
“I, Darren Wilson, hereby resign my commission as a police officer with the City of Ferguson effective immediately. I have been told that my continued employment may put the residents and police officers of the City of Ferguson at risk, which is a circumstance that I cannot allow. For obvious reasons, I wanted to wait until the grand jury made their decision before I officially made my decision to resign. It was my hope to continue in police work, but the safety of other police officers and the community are of paramount importance to me. It is my hope that my resignation will allow the community to heal. I would like to thank all of my supporters and fellow officers throughout this process.”
ARNOLDS PARK, Iowa — For almost 40 years, Carole Hinders has dished out Mexican specialties at her modest cash-only restaurant. For just as long, she deposited the earnings at a small bank branch a block away — until last year, when two tax agents knocked on her door and informed her that they had seized her checking account, almost $33,000.
The Internal Revenue Service agents did not accuse Ms. Hinders of money laundering or cheating on her taxes — in fact, she has not been charged with any crime. Instead, the money was seized solely because she had deposited less than $10,000 at a time, which they viewed as an attempt to avoid triggering a required government report.
“How can this happen?” Ms. Hinders said in a recent interview. “Who takes your money before they prove that you’ve done anything wrong with it?”
It’s sort of an obscure story, but it’s also incredibly instructive.
That’s the story of how Eritrea—a tiny, mostly unheard-of country in East Africa—taxes its citizens who live abroad.
Eritrea is one of only two countries in the entire world that taxes its nonresident citizens on their global income. Specifically, Eritrea levies a flat 2% tax on the income of its citizens who reside abroad.
Nearly every other country in the world bases its tax system on residency rather than citizenship. Continue reading »
The IRS. There are few agencies more hated, corrupt, and degraded in the entire nation, and that’s saying a lot.
Unless you have been living under a rock for the past couple of years, you are well aware of the fact that the IRS was caught consistently abusing its extraordinary power in order to selectively target groups with which leadership disagreed with politically.
We also know that the IRS, and its formerdirector of the Exempt Organizations Unit, Lois Lerner, subsequently destroyed evidence of misconduct by claiming emails had been lost and are unrecoverable, in a ludicrous series of purported events. Continue reading »
Moments ago, in what NBC classified as a “potentially lethal blow to Obamacare” a federal appeals court has ruled that the federal government may not subsidize health insurance plans bought by people in states that decided not to set up their own marketplaces under Obamacare. The law clearly says that states are to set up the exchanges. But 34 states opted not to, and the federal government took over in those states. The court ruled that federal government may not pay subsidies for insurance plans in those states.
As the Hill reports further, the D.C. Circuit Court of Appeals said the Affordable Care Act does not permit the IRS to distribute premium subsidies in the federal ObamaCare exchange, meaning those consumers must bear the full cost of their insurance. Continue reading »
The Internal Revenue Service (IRS) cancelled its longtime relationship with an email-storage contractor just weeks after ex-IRS official Lois Lerner’s computer crashed and shortly before other IRS officials’ computers allegedly crashed.
The IRS signed a contract with Sonasoft, an email-archiving company based in San Jose, California, each year from 2005 to 2010. The company, which partners with Microsoft and counts The New York Times among its clients, claims in its company slogans that it provides “Email Archiving Done Right” and “Point-Click Recovery.” Sonasoft in 2009 tweeted, “If the IRS uses Sonasoft products to backup their servers why wouldn’t you choose them to protect your servers?” Continue reading »
In 2007, while co-writing a magazine piece with Silicon Valley author and entrepreneur Michael S. Malone on best Information Age practices for politicians, I coined a phrase Malone instantly dubbed “the Cannon Codicil.”
Postulating that electronic messages, like diamonds, last for forever, Cannon’s codicil simply holds that “Nothing digital ever dies.”
Although inspired by the water torture Democrats were then inflicting on Karl Rove over his missing Republican National Committee emails, mostly I was being metaphysical. But now, with the Internal Revenue Service claiming it has lost tens of thousands of emails from Lois Lerner and six of her IRS subordinates, the question in Washington is whether such a thing is technologically possible. Continue reading »
Do you have any money or assets outside the U.S.? Seems like a pretty straightforward question, doesn’t it? Well, a lot of people are surprised to learn that they do have offshore funds. And if they don’t file a certain form with the U.S. Treasury Department by June 30, the minimum late fee is $10,000. Continue reading »
One of the primary themes discussed on this site over the past several years is the growing realization that there is a two-tier injustice system operating in these United States. This fact is more disruptive to the smooth and healthy functioning of a society than anything else. It is more disruptive than financial theft, it is more disruptive that feudalistic levels of wealth inequality, and it is more disruptive than Big Brother illegal spying. Nothing will tear the fabric of a culture apart more decisively than the appearance and recognition of a “justice” system which carves out immunity for the rich and powerful, yet comes down like a ton of bricks on even the slightest of crimes committed by the average peasants. Continue reading »
Tax collector has 58,000 PCs still running the aged XP; will spend $30M to upgrade to Windows 7
Computerworld – The U.S. Internal Revenue Service (IRS) acknowledged this week that it missed the April 8 cut-off for Windows XP support, and will be paying Microsoft millions for an extra year of security patches.
Microsoft terminated Windows XP support on Tuesday when it shipped the final public patches for the nearly-13-year-old operating system. Without patches for vulnerabilities discovered in the future, XP systems will be at risk from cyber criminals who hijack the machines and plant malware on them.
In its 2013 annual report to Congress, the Office of the Taxpayer Advocate wrote that the IRS shows “disrespect for the law and a disregard for taxpayer rights.”
Further, the report says that the current system “disproportionately burdens those who [make] honest mistakes,” and that “tax requirements have become so confusing and the compliance burden so great that taxpayers are giving up their U.S. citizenship in record numbers.”
U.S. Olympic gold medal winners could owe almost $10,000 to the IRS
As 230 U.S. Olympic athletes gear up to compete in the 2014 Winter Games, the only thing colder than the slopes at Sochi is the fact that any prizes awarded by the U.S. Olympic Commission (USOC) will be taxed by the IRS. Many Americans don’t realize that the U.S. taxes income earned abroad, and as such even the winnings of Olympic athletes are subject to the reach of the IRS.
The USOC awards prizes to U.S. Olympic medal winners: $25,000 for gold, $15,000 for silver, and $10,000 for bronze. Relative to each athlete’s income tax bracket, some top earners such as Shaun White could end up paying over a third (39.6 percent) of their winnings to the IRS.