Video — OffshoreTax Free Havens (how to do it)

Not direct­ly relat­ed to gold I know but how is it that big com­pa­nies like Apple, Ama­zon, Star­bucks, Microsoft, et al get away with pay­ing vir­tu­al­ly no tax on their mas­sive prof­its?

This robs the local gov­ern­ments of much need­ed financ­ing which has to be found from oth­er sources — usu­al­ly the likes of you and me to make up the short­fall — This is an utter­ly amaz­ing exposé of how the whole off­shore indus­try fits togeth­er.

Of-course, we could now do the same thing our­selves and take an an exam­ple from the fine cor­po­ra­tions of the world.

Enjoy!

© Copy­right MMXIII RagingGoldenBull.com

UBS to Pay Over $450 Million to Settle Libor Probe

UBS are get­ting ham­mered (as they should be):

ZURICHUBS AG (UBS) is close to a set­tle­ment with U.S. and U.K. author­i­ties and is expect­ed pay more than $450 mil­lion over claims that some of its employ­ees report­ed false Libor rates to boost the bank’s prof­it, the New York Times report­ed Sun­day, cit­ing anony­mous offi­cials briefed on the mat­ter.

If the Zurich-based bank agrees to the deals with var­i­ous author­i­ties, the col­lec­tive penal­ties would yield the largest total fine to date relat­ed to the rate-rig­ging inquiry and would increase the like­li­hood that oth­er finan­cial insti­tu­tions would face stiff penal­ties, it report­ed.

UBS was­n’t imme­di­ate­ly avail­able to com­ment on the report.

Author­i­ties dealt their first blow in the rate-rig­ging case in June, when U.K. bank Bar­clays Plc (BARC.LN) agreed to a $450 mil­lion set­tle­ment.

U.S. offi­cials are hop­ing to com­plete a deal with UBS by the mid­dle of the month, accord­ing to offi­cials briefed on the mat­ter, the paper report­ed.”

see the full sto­ry:

http://www.nasdaq.com/article/ubs-to-pay-over-450-million-to-settle-libor-probe-20121203–00132

 
© Copy­right MMXII RagingGoldenBull.com

Video — Paul Grignons What the Heck is a Bailout?

Paul Grignon has pro­duced anoth­er infor­ma­tive and some ways enter­tain­ing video about the mon­ey sys­tem called What the Heck is a Bailout?. This is only 9 min­utes long and well worth a watch to explain what these terms “bailout”, “debt” and “mon­ey print­ing” real­ly mean.

Also check­out his Mon­ey as Debt site and oth­er work and give him some sup­port if you can — we all need to play our part to help straight­en things out here…An impos­si­ble task I know…

© Copy­right MMXII RagingGoldenBull.com

All the Gold has Gone from Western Central Bank Vaults?

Eric Sprott of Sprott Asset Man­age­ment is one seri­ous play­er and you would do well to lis­ten to him when­ev­er he speaks.

 

The chief of Sprott Asset Management

The man him­self on Bloomberg TV

He was just on Bloomberg TV dis­cussing his recent­ly pub­lished paper to which the con­clu­sion is The West­ern Cen­tral Banks can­not pos­si­bly have any Gold Bul­lion left in their vaults.

The expla­na­tion is sim­ple — gold sup­ply has remained con­stant at approx­i­mate­ly 4,000 tonnes per year. This has remained con­stant since the year 2000 — no doubt about that. How­ev­er the annu­al amount that is being pur­chased on the open mar­ket is going up, with almost 500 tonnes over the amount mined in a year. So how his this pos­si­ble? Where is the extra 500 tonnes of Gold com­ing from?

Sprott alludes to the fact that the cen­tral banks are “lend­ing” it out for cash into the mar­ket. This should real­ly be called “sell­ing”, because this gold is nev­er com­ing back. The trick is in their accounts and book-keep­ing. The banks are enter­ing this as “Gold Reserves and Gold Receiv­ables” — Receiv­ables being code for we sold it, but we still want to keep it on our books.

If we were to try that kind of cheap trick we would be locked-up and they would through away the key…But a cen­tral bank? No prob­lem — That’s ok boys!

You need to watch this inter­view — there are a lot of good nuggets of info in there…

© Copy­right MMXII RagingGoldenBull.com

The First and Last Too-Big-To-Fail-Bank-Liquidation in History

Sign o the times - Lehmans going under

Lehmans Liq­ui­da­tion near­ly brought down the whole glob­al finan­cial sys­tem

There are plen­ty of things to be wor­ried about at the moment. Some­times it
is like the Case of the Miss­ing Cen­tral Bank Gold is pret­ty minor in
com­par­i­son. For exam­ple, the impli­ca­tions of the Lehman Broth­ers Event
are pro­found indeed.

The Lehman Broth­ers event was very unique indeed. One of a kind. It was the first, and the last case of a mon­ster bank being liq­ui­dat­ed and the cen­tral plan­ners soon realised that they had cho­sen the wrong path here. This one bank in 2008 almost brought down the entire sys­tem. If the rumours were to be believed then we were with­in hours of the col­lapse of the entire glob­al finan­cial sys­tem.

For the first time we could see the real and dec­i­mat­ed val­ue of assets dur­ing a liq­ui­da­tion sce­nario in the 2008 envi­ron­ment. Any­one who has been close to any kind of bank­rupt­cy or debt event knows that assets are worth noth­ing and no buy­ers. Cred­it sup­ply was seiz­ing-up and it was almost time for the end.

The Cen­tral Plan­ners watched and learned. If you notice, there have been many oth­er events, banks, coun­tries, and busi­ness­es like since Octo­ber 2008. But none have been allowed to fail. It would cause too much tur­moil and desta­bilise too much infra­struc­ture. The les­son learned here is that it would be much bet­ter to just kick the can down the road. The expres­sion that we have heard so often now. Keep the illu­sion going for a bit longer. But how much longer? Days? Weeks? Years? Cen­turies? This is where we must do our think­ing — how long have we got?

Greek austerity measure start to warm up

Greek aus­ter­i­ty mea­sure start to warm up

Reflect on all that has hap­pened since — Greece, Spain, Por­tu­gal, Ire­land, Italy, Dex­ia, Bankia, AIG, Fan­ny Mae, Irish Banks, Ice­landic Banks, North­ern Rock, and the hand­ful of banks that qui­et­ly fail every Fri­day after­noon in Amer­i­ca. All bar none, have been helped — no liq­ui­da­tion for them. It would be messy.

Wit­ness Mario Draghi and his print­ing press­es, EFSF, any­thing but actu­al­ly let the prob­lems die out. So we print more mon­ey, sell more bonds, and use the mon­ey to kick the can down the road again. But one day this will come to an end.

So I feel that we will not see any more BIG LIQUIDATIONS — They are just too dan­ger­ous — Let’s just draw out a long slow death instead.

This is the proof of QE to Infin­i­ty and beyond — Pur­chase your phys­i­cal gold now while it is still in the 1,700 USD range — In a few years most peo­ple will be locked out from buy­ing (if not already) com­plete­ly — buy sil­ver too. Buy BOTH, with both hands. Now.

Oh, an by the way — start think­ing, plan­ning, and tak­ing mas­sive action now — it’s the best chance of sur­vival for us and the peo­ple we care about.

© Copy­right MMXII RagingGoldenBull.com