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	<title>Contrarian Stock Market Investing News - Featuring Bargain Stocks &#187; IRS</title>
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		<title>The ignorance of big government</title>
		<link>http://www.contrarianprofits.com/articles/the-ignorance-of-big-government/21266</link>
		<comments>http://www.contrarianprofits.com/articles/the-ignorance-of-big-government/21266#comments</comments>
		<pubDate>Wed, 06 Jan 2010 14:15:17 +0000</pubDate>
		<dc:creator>Andrew Snyder</dc:creator>
				<category><![CDATA[Notes From the Investment Underground]]></category>
		<category><![CDATA[Accurate Answer]]></category>
		<category><![CDATA[Allotment]]></category>
		<category><![CDATA[Blatant Example]]></category>
		<category><![CDATA[Courteous Service]]></category>
		<category><![CDATA[Earned Dollars]]></category>
		<category><![CDATA[Fannie Mae]]></category>
		<category><![CDATA[Government Entity]]></category>
		<category><![CDATA[Ineptitude]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[Latest Craze]]></category>
		<category><![CDATA[Mumbo]]></category>
		<category><![CDATA[notes from the invetment underground]]></category>
		<category><![CDATA[Overseas Posts]]></category>
		<category><![CDATA[Private Enterprise]]></category>
		<category><![CDATA[Private World]]></category>
		<category><![CDATA[Quality Control Circles]]></category>
		<category><![CDATA[School Jargon]]></category>
		<category><![CDATA[Sensory Overload]]></category>
		<category><![CDATA[Six Sigma]]></category>
		<category><![CDATA[Small Business Owner]]></category>
		<category><![CDATA[Standard Deviations]]></category>

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		<description><![CDATA[<p>Baltimore &#8212; There is no debating the private sector is more efficient than the public sector. Give a hundred grand to a small business owner and he will quickly spend it in a way that provides his business the most reward.</p>
<p>Give the same cash to just about any government entity and the bureaucracy will spend another hundred grand studying how to spend the original allotment.</p>
<p>If you will excuse a few ‘graphs of business-school jargon, I will show you what has got to be the most blatant example of government ineptitude since Fannie Mae’s creation.</p>
<p>Sadly, we are just a few months away from yet another tax season. That means the IRS is gearing up for two months of sensory overload. In&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>Baltimore &#8212; There is no debating the private sector is more efficient than the public sector. Give a hundred grand to a small business owner and he will quickly spend it in a way that provides his business the most reward.</p>
<p>Give the same cash to just about any government entity and the bureaucracy will spend another hundred grand studying how to spend the original allotment.<span id="more-21266"></span></p>
<p>If you will excuse a few ‘graphs of business-school jargon, I will show you what has got to be the most blatant example of government ineptitude since Fannie Mae’s creation.</p>
<p>Sadly, we are just a few months away from yet another tax season. That means the IRS is gearing up for two months of sensory overload. In a year when dozens of tax laws where amended to free up spending and grease some votes, countless Americans are bound to call the IRS looking for help.</p>
<p>If it were a private enterprise picking our pockets, you would expect timely, courteous service, right? It’s why so many call centers have abandoned their overseas posts and moved back home. You don’t skimp on customer service.</p>
<p>But not if you’re Uncle Sam.</p>
<p>The IRS just revealed its “goals” for the upcoming tax season. If all goes as planned, just 70% of Americans who call the IRS will ever get the privilege of talking with somebody that can answer their questions.</p>
<p>That means, even though many of us are paying thousands of our hard-earned dollars to keep this government running, just seven out of ten of us will ever hear a hello on the other end of the line. And who knows how many will actually receive an accurate answer?</p>
<p>Now, here’s where the jargon comes in.</p>
<p>If you have anything to do with the business world, you’ve likely heard of Six Sigma. It’s the latest craze in quality control circles. Saving you the lesson on standard deviations and statistical mumbo jumbo, Six Sigma essentially says 99.9997% of all production must be defect free.</p>
<p>Yes, the private world is aiming for three out of every million to be defective, while Uncle Sam is hoping it is good enough to do three out of ten.</p>
<p>Doesn’t that make you confident your money is well spent.</p>
<p>If Washington truly wanted what is best for this country’s economy, it would close up shop, return our tax dollars and say to the private sector, “You deal with it.”</p>
<p>At least then somebody would answer the phone.</p>
<p>*** Really, I shouldn’t complain about no-good governments. Without Washington’s economic ignorance, the gold markets would be as barren as the help wanted section.</p>
<p>But we all know the gold markets are alive and well.  Like usual, timing is everything.</p>
<p>If you’ve been a frequent reader, you know my disdain for precious metal was high in December. Too many speculators were pumping the investment and prices moved too high, too soon.</p>
<p>As the dollar strengthened going into the holidays, gold’s price plummeted. My official target was $1,050 per ounce, but I had to abandon my forecast and jump into the market when the indicators showed a varying opinion.</p>
<p>One of the last things I did before clocking out for the New Year holiday was recommend a play on gold to <a href="http://tfnstrategictrader.com" target="_blank">TFN Strategic Trader</a> members. It was as simple as it gets.</p>
<p>On December 31, I wrote:</p>
<p>“Without actually taken possession of gold bullion, one of the most efficient and easiest ways to take advantage of future spikes in price is to buy shares of the SPDR Gold Shares ETF (NYSE:GLD). While not all tracking ETFs are accurate mirrors of their underlying asset, this $42 billion fund has done a reasonable job over the past twelve months.</p>
<p>“With gold shedding a significant portion of its value over the last four weeks, the speculation surrounding the metal has diminished greatly. That means once we get back down to base levels – the charts show its somewhere between the $1,050 and $1,100 per ounce range – we are set for even more upside.</p>
<p>“Rising inflation, interest rates and economic activity will boost demand well into the new year.</p>
<p>“Here is how I want you to take advantage of the situation. It is simple. Buy the ETF’s February 107.00 calls (GCZBC). As gold prices head higher in the New Year, this play has strong gain potential.”</p>
<p>And today, just three trading days later, I wrote:</p>
<p>“What a call we made on the gold market. If you followed my advice last week and bought SPDR Gold February 107 calls (GCZBC), you are sitting on gains of at least 43% and I know many of you are above the 50% mark.</p>
<p>“Sell your GLD February 107 calls (GCZBC).”</p>
<p>Don’t you just love the power of options and the ignorance of big governments?</p>
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		<title>The Truth About UBS vs. IRS that You Won’t Find in the Newspaper Headlines</title>
		<link>http://www.contrarianprofits.com/articles/the-truth-about-ubs-vs-irs-that-you-won%e2%80%99t-find-in-the-newspaper-headlines/20071</link>
		<comments>http://www.contrarianprofits.com/articles/the-truth-about-ubs-vs-irs-that-you-won%e2%80%99t-find-in-the-newspaper-headlines/20071#comments</comments>
		<pubDate>Fri, 21 Aug 2009 23:35:52 +0000</pubDate>
		<dc:creator>Bob Bauman</dc:creator>
				<category><![CDATA[Politics & Economics]]></category>
		<category><![CDATA[Bob Bauman]]></category>
		<category><![CDATA[Doug Shulman]]></category>
		<category><![CDATA[Global Recession]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[Ubs]]></category>

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		<description><![CDATA[<p style="margin-bottom: 1em;">The final word is out. UBS is handing over information on roughly 5,000 accounts and the IRS will back off its fishing expeditions on the remaining ~42,000 accounts.</p>
<p style="margin-bottom: 1em;">Frankly, I’ve written so much about the <a href="http://www.google.com/finance?q=UBS">UBS</a> mess over the last year that I am sick of it…and I’m sick of the greedy, crooked UBS bankers and staff that stupidly thought they could use Swiss bank secrecy laws to cover their illegal tax evasion advice, while running up fat fees for themselves and billions in deposits for UBS.</p>
<p style="margin-bottom: 1em;">This thoughtless criminal activity not only added to the instability of UBS – already $50 billion in the hole because of bad investments exposed by the global recession – but their conduct needlessly called into question&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p style="margin-bottom: 1em;">The final word is out. UBS is handing over information on roughly 5,000 accounts and the IRS will back off its fishing expeditions on the remaining ~42,000 accounts.<span id="more-20071"></span></p>
<p style="margin-bottom: 1em;">Frankly, I’ve written so much about the <a href="http://www.google.com/finance?q=UBS">UBS</a> mess over the last year that I am sick of it…and I’m sick of the greedy, crooked UBS bankers and staff that stupidly thought they could use Swiss bank secrecy laws to cover their illegal tax evasion advice, while running up fat fees for themselves and billions in deposits for UBS.</p>
<p style="margin-bottom: 1em;">This thoughtless criminal activity not only added to the instability of UBS – already $50 billion in the hole because of bad investments exposed by the global recession – but their conduct needlessly called into question the admirable privacy policies and bank secrecy laws of the Swiss government.</p>
<h3>Asking for it</h3>
<p style="margin-bottom: 1em;">UBS tarnished not only its own reputation, but  also that of a major nation and its people.</p>
<p style="margin-bottom: 1em;">But worst of all, what UBS did allowed the tax  bullies at the IRS to:</p>
<p style="margin-bottom: 1em;"><strong>1)</strong> smear thousands of honest  Americans who bank offshore;<br />
<strong>2)</strong> attempt to scare away  thousands more who could benefit by doing so;<br />
<strong>3)</strong> pretend to  extend U.S. tax law jurisdiction to the entire world;<br />
<strong>4)</strong> use blatant economic blackmail against not only an errant bank, but against a friendly country that has long been a faithful ally and against its 7.6 million people.</p>
<p style="margin-bottom: 1em;">The agreement lifts the threat of U.S. criminal  prosecution against UBS, the world&#8217;s number two wealth manager by assets.</p>
<p style="margin-bottom: 1em;">The IRS was not only willing to risk endangering the bank&#8217;s existence, but it could have dealt a major blow to the Swiss and U.S. economies. (UBS has 20,000 American employees).</p>
<h3>The Anti-Offshore PR Campaign Rages On</h3>
<p style="margin-bottom: 1em;">You can expect that the left wing, anti-tax haven crowd will play this as the death, not only of Swiss bank secrecy, but the beginning of the end for all offshore financial centers.</p>
<p style="margin-bottom: 1em;">Don&#8217;t they Wish!</p>
<p style="margin-bottom: 1em;"><img src="http://www.sovereignsociety.com/Portals/0/brett/doug082109.jpg" alt="" hspace="7" vspace="7" width="115" height="142" align="left" />IRS Commissioner <strong>Doug Shulman</strong> (left) crowed, &#8220;It&#8217;s a  real sense that the world of bank secrecy is eroding.&#8221; According to <em>The  Times</em>, &#8220;The agreement is likely to unnerve American customers of UBS who do not know if their names will be divulged, and could deter others from opening Swiss accounts in the future.&#8221;</p>
<p style="margin-bottom: 1em;">On that second point, we hope not. There are still plenty of opportunities to open an offshore account with a sound financial institution&#8230;which is – sadly – is not necessarily the case in the United States.</p>
<p style="margin-bottom: 1em;">And on the first point, I can speak for the whole of the <a href="http://www.SovereignSociety.com"  class="alinks_links" onclick="return alinks_click(this);" title=""  style="padding-right: 13px; background: url(http://www.contrarianprofits.com/wp-content/plugins/alinks/images/external.png) center right no-repeat;" rel="external">Sovereign Society</a> when I say that we don&#8217;t really care if illegal tax evaders are nervous. They should be.</p>
<p style="margin-bottom: 1em;">But we certainly hope that honest, tax paying Americans (and others) who desire real financial privacy, true asset protection and expert investment advice will realize the fact that they still have the right to employ Swiss banks, investment advisors, insurance and annuity specialists – and not be scared away from the very real benefits offered by the world&#8217;s leading offshore financial center.</p>
<h3>Swiss Banks Still Available</h3>
<p style="margin-bottom: 1em;">Whether all this will change the Swiss banking industry’s culture of secrecy based on law is doubtful in my opinion. But the IRS has made clear that their pursuit of tax evaders will not stop at UBS.</p>
<p style="margin-bottom: 1em;">Some smaller, centuries-old private Swiss banks, however, are stepping up their efforts to attract American money, given the importance of foreign clients to the nation’s financial institutions.</p>
<p style="margin-bottom: 1em;">Understand that the Sovereign Society does not  condone tax evasion in any form, <a href="http://clicks.sovereignsociety.com//t/AQ/XA4/YOQ/hZE/AQ/AkgWOw/Pr_c">a  point we have made repeatedly in our publications</a> throughout our entire  existence.</p>
<p style="margin-bottom: 1em;">Of course there is a simple way for you to avoid  personal tax troubles – <a href="http://clicks.sovereignsociety.com//t/AQ/XA4/YOQ/oks/AQ/AkgWOw/bs0y">file  the proper IRS</a> reports on time and pay your taxes when they&#8217;re due, as we  have often explained.</p>
<h3>We Are Prepared</h3>
<p style="margin-bottom: 1em;">To tell the truth, we at the Sovereign Society saw  this coming a long time ago…</p>
<p style="margin-bottom: 1em;">We meet regularly with Swiss and other offshore bankers, and we have agreements with reputable Swiss banks willing to accept new accounts from those who identify themselves as Sovereign Society members.</p>
<p style="margin-bottom: 1em;">These arrangements are in full compliance with IRS and SEC rules and other U.S. laws. U.S. clients must sign an IRS Form W-9 that allows an offshore bank to report required information to the IRS.</p>
<p style="margin-bottom: 1em;">As it has been since our founding 11 years ago, our staff is available to assist in opening a Swiss or other offshore account. Take advantage of these special Swiss banking arrangements and the advice of our Swiss advisors by <a href="http://www.sovereignsociety.com/INVESTMENTRESEARCH/THESOVEREIGNINDIVIDUAL/tabid/830/Default.aspx">visiting  our member&#8217;s only website today</a>.</p>
<p style="margin-bottom: 1em;">We at the Sovereign Society believe that <a href="http://clicks.sovereignsociety.com//t/AQ/XA4/YOQ/okw/AQ/AkgWOw/1sUL">personal  and financial privacy is an inherent human right</a>, a requirement for  maintaining the human condition with dignity and respect.</p>
<p style="margin-bottom: 1em;">In all this ruckus about UBS and the IRS, the basic issues are preservation of our personal freedom and liberty versus complete government control of our lives and our fortunes.</p>
<p style="margin-bottom: 1em;">Yours Truly,</p>
<p>Bob Bauman</p>
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		<title>D-Day for US Citizens with Swiss Bank Accounts</title>
		<link>http://www.contrarianprofits.com/articles/d-day-for-us-citizens-with-swiss-bank-accounts/19136</link>
		<comments>http://www.contrarianprofits.com/articles/d-day-for-us-citizens-with-swiss-bank-accounts/19136#comments</comments>
		<pubDate>Wed, 15 Jul 2009 19:44:06 +0000</pubDate>
		<dc:creator>Contrarian Profits</dc:creator>
				<category><![CDATA[Notes From the Investment Underground]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[offshore banking]]></category>
		<category><![CDATA[Swiss bank accounts]]></category>

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		<description><![CDATA[<p>Offshore account holders wait for the knife to fall, says Raife Neuman, tax planner for Bonner &#38; Partners Family Office. The question is: How sharp it will be? </p>
<p>As I’ve written before, the Obama administration has given offshore tax avoiders a chance to come clean; but for some, the door is closing quickly. At issue is the IRS crackdown on individuals holding US securities in offshore accounts who don’t pay taxes on their earnings. </p>
<p>It was a nice little gig until the IRS took advantage of the dire economic situation and started shaking down Swiss bank UBS. The IRS is demanding that UBS turn over the names of US citizens with fabled Swiss bank accounts. </p>
<p>While waving its big stick&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>Offshore account holders wait for the knife to fall, says Raife Neuman, tax planner for Bonner &amp; Partners Family Office. The question is: How sharp it will be?</span><span> <span id="more-19136"></span></span></span></p>
<p><span>As I’ve written before, the Obama administration has given offshore tax avoiders a chance to come clean; but for some, the door is closing quickly. At issue is the IRS crackdown on individuals holding US securities in offshore accounts who don’t pay taxes on their earnings.</span><span> </span></p>
<p><span>It was a nice little gig until the IRS took advantage of the dire economic situation and started shaking down Swiss bank UBS. The IRS is demanding that UBS turn over the names of US citizens with fabled Swiss bank accounts.</span><span> </span></p>
<p><span>While waving its big stick at UBS, the IRS gave individuals the opportunity to come forth with their accounts themselves – accompanied by a penalty, of course. The implied threat is that if you don’t disclose “voluntarily” and the IRS eventually gets your name, it will come after you with guns a blazing.</span></p>
<p><span>A big hearing on the matter was scheduled on Monday. But it didn’t go through. This increased speculation that UBS is close to caving to the IRS. This from the</span><span> </span><span><em>Wall Street Journal</em></span><span> </span><span>:</span><span> </span><span></span></p>
<p class="MsoNormal"><span>It’s a roller-coaster ride for Americans with Swiss bank accounts who are caught up in the tax-evasion case against UBS AG. Depending on what they have already told the Internal Revenue Service about their accounts, individuals are mostly at ease or deeply nervous about the prospect of civil and criminal penalties.</span></p>
<p class="MsoNormal"><span>And, many are turning to tax advisers for help decoding the latest developments in a case that has taken dramatic turns in recent days.</span></p>
<p class="MsoNormal"><span>Over the weekend, the U.S. Justice Department, the Swiss government and UBS said they are in talks to settle the case and asked a federal court in Miami to delay a highly anticipated hearing set for Monday. This followed a week of high-profile maneuvers by UBS and the Swiss government.</span></p>
<p class="MsoNormal"><span>“It is King Kong versus Godzilla and they decided to take a time out,” says Bryan Skarlatos, a partner at New York law firm Kostelanetz &amp; Fink.</span></p>
<p class="MsoNormal"><span>The IRS crackdown, months’ long, has focused on people who hold U.S. securities in offshore accounts but don’t declare the accounts or pay taxes on income from the securities.</span></p>
<p class="MsoNormal"><span>Scott D. Michel, an attorney at Caplin &amp; Drysdale in Washington, D.C., says many clients are trying to sort through all the back and forth. The message to be taken from the most recent news, he adds: Any account holder who hasn’t already come forward under a voluntary disclosure program at the IRS should do so immediately.</span></p>
<p>The program, which has attracted many individuals since the tax-evasion case began months ago, can offer participants leniency.</p>
<p class="MsoNormal">
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		<title>U.S. Tax Code Is a ‘Nightmare’</title>
		<link>http://www.contrarianprofits.com/articles/us-tax-code-is-a-%e2%80%98nightmare%e2%80%99/16218</link>
		<comments>http://www.contrarianprofits.com/articles/us-tax-code-is-a-%e2%80%98nightmare%e2%80%99/16218#comments</comments>
		<pubDate>Mon, 04 May 2009 22:24:22 +0000</pubDate>
		<dc:creator>Contrarian Profits</dc:creator>
				<category><![CDATA[Notes From the Investment Underground]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[tax code]]></category>
		<category><![CDATA[U.S. Tax Code]]></category>
		<category><![CDATA[US economics]]></category>

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		<description><![CDATA[<p>“The tax code is a mess, no, make that a nightmare,”<strong> </strong>says Tom Herman. The long-time tax expert is stepping down after over 40 years at the <em>Wall Street Journal.</em>Our own tax expert, Raife Neuman, says that although Herman’s <a href="http://online.wsj.com/article/SB123976053040419549.html" target="_blank">message</a> may be a no-brainer for any of us who have tried to navigate the labyrinth of the U.S. tax code, it’s an important reminder of the deep problems in tax law. </p>
<p style="margin-left: 0.5in;">I [...] leave with a growing sense that our tax system is in shaky condition and needs a major overhaul. We need a system that is much simpler and less burdensome. That won&#8217;t happen with mere tinkering around the edges. Many people who have held top jobs at the IRS and&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>“The tax code is a mess, no, make that a nightmare,”<strong><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE"> </span></strong><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">says Tom Herman. The long-time tax expert is stepping down after over 40 years at the<span class="apple-converted-space"> </span><em><span style="font-family: Verdana;">Wall Street Journal.</span></em></span><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">Our own tax expert, Raife Neuman, says that although Herman’s<span class="apple-converted-space"> </span><a href="http://online.wsj.com/article/SB123976053040419549.html" target="_blank"><span style="color: #0000cc;">message</span></a><span class="apple-converted-space"> </span>may be a no-brainer for any of us who have tried to navigate the labyrinth of the U.S. tax code, it’s an important reminder of the deep problems in tax law. <span id="more-16218"></span></span></p>
<p style="margin-left: 0.5in;"><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">I [...] leave with a growing sense that our tax system is in shaky condition and needs a major overhaul. We need a system that is much simpler and less burdensome. That won&#8217;t happen with mere tinkering around the edges. Many people who have held top jobs at the IRS and Treasury agree. Our federal tax system is &#8220;so shot through with deductions, credits, exclusions, loopholes and outright noncompliance that it fails in its essential job of raising revenues efficiently,&#8221; says Charles Rossotti, a former IRS Commissioner. &#8220;The complexity and instability of the tax system also leads people to believe that the average person always gets stuck, while the big hitters find ways to avoid paying, regardless of the advertised tax rates. </span></p>
<p style="margin-left: 0.5in;"><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">As Will Rogers once observed about tax forms: &#8220;Even when you make one out on the level, you don&#8217;t know when it&#8217;s through if you are a crook or a martyr.&#8221; </span></p>
<p><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">What does Herman see ahead? A crackdown on individuals in the form of audits. Further restrictions on off-shore tax havens. And the revival of the death tax. </span></p>
<p><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">The article is well-worth reading not just for Herman’s insights, but also for several anecdotes from his time on the tax beat. Here’s our favorite: </span></p>
<p style="margin-left: 0.5in;"><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">Strangest request: A reader who called himself a &#8220;senior, senior citizen&#8221; wrote several years ago to say he had amassed $2.1 million of stock-market losses. </span></p>
<p style="margin-left: 0.5in;"><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">“In order to use (and not lose them), I would have to marry a woman with large capital gains,&#8221; he wrote. He said his accountant told him &#8220;it is not necessary to live together, and a divorce can be had after the tax loss is used up.&#8221; If he filed a joint return, &#8220;her tax savings would be split between us. Needless to say, she can be properly protected by a prenuptial agreement. Your advice on how I might find such a lady would be greatly appreciated.&#8221; </span></p>
<p style="margin-left: 0.5in;"><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">He added: &#8220;And should a fee or reward not be paid (and how much) to a person finding her?&#8221; </span></p>
<p><span style="font-size: 10pt; font-family: Verdana; color: black;" lang="EN-IE">We love to see that entrepreneurial spirit of trying to spin losses into gains!</span></p>
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		<title>Is Art The Ultimate Safe Haven?</title>
		<link>http://www.contrarianprofits.com/articles/is-art-the-ultimate-safe-haven/7384</link>
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		<pubDate>Wed, 29 Oct 2008 19:40:24 +0000</pubDate>
		<dc:creator>Alexander Green</dc:creator>
				<category><![CDATA[Financial News]]></category>
		<category><![CDATA[Alexander Green]]></category>
		<category><![CDATA[bear market]]></category>
		<category><![CDATA[Downturn Strategy]]></category>
		<category><![CDATA[investing in art]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[Recession Proof]]></category>
		<category><![CDATA[tax deductions]]></category>

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		<description><![CDATA[<p>In the October 6 issue of <em>Forbes</em>, columnist Claire Obusan tells the surprising story of Eli Broad:</p>
<p>&#8220;Broad should be a lot poorer this year. Worth $7 billion last fall, the insurance and housing maven saw his 46.6 million shares of AIG &#8211; received a decade ago when he sold his SunAmerica to the insurance giant for $18 billion &#8211; drop 70% between last summer and August 29, the day we priced the <em>Forbes 400</em> (they&#8217;ve fallen much further since). That decline erased $2 billion from his personal balance sheet. But Broad&#8217;s net worth fell only $300 million. One reason: the soaring value of his 2,000-piece art collection. Comprising mostly contemporary pieces by artists like Jeff Koons, his collection was recently appraised&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p><span class="Normal">In the October 6 issue of <em>Forbes</em>, columnist Claire Obusan tells the surprising story of Eli Broad:</span></p>
<p><span class="Normal">&#8220;Broad should be a lot poorer this year. Worth $7 billion last fall, the insurance and housing maven saw his 46.6 million shares of AIG &#8211; received a decade ago when he sold his SunAmerica to the insurance giant for $18 billion &#8211; drop 70% between last summer and August 29, the day we priced the <em>Forbes 400</em> (they&#8217;ve fallen much further since). That decline erased $2 billion from his personal balance sheet. But Broad&#8217;s net worth fell only $300 million. One reason: the soaring value of his 2,000-piece art collection. Comprising mostly contemporary pieces by artists like Jeff Koons, his collection was recently appraised at $1.9 billion, up 72% in a year.&#8221;</span></p>
<p><span class="Normal">The article goes on to detail how several members of the <em>Forbes 400</em> have hedged their fortunes during these volatile times by buying and selling and <em>investing in art</em>.</span></p>
<p><span class="Normal">Of course, you don&#8217;t have to invest millions, or even tens of thousands, to buy contemporary art.  It is readily available, often at a fairly reasonable cost, at your local gallery or art festival.</span></p>
<p><span class="Normal"><strong>The Secret to Investing In Art</strong></span></p>
<p><span class="Normal">The secret to <a href="http://www.investmentu.com/IUEL/2007/October/investing-in-art.html">investing in art</a>, however, is buying right.  Most of us, myself included, are not experts at buying contemporary pieces of art below fair market value. </span></p>
<p><span class="Normal">That&#8217;s why I often recommend that both novices and experienced art buyers use Mike Kuschmann, President of Fine Arts Limited.</span></p>
<p><span class="Normal">Headquartered in Winter Park, FL, Fine Arts doesn&#8217;t have a gallery of artwork to sell.  In fact, it doesn&#8217;t have a gallery at all.</span></p>
<p><span class="Normal">Kuschmann is a &#8220;buyer&#8217;s broker.&#8221; That means he works for you, not the seller. If you visit a gallery, art festival or retail store and see a print, painting, sculpture or other piece you&#8217;d like to own, don&#8217;t pay retail. Mike will contact the seller on your behalf and negotiate a dealer&#8217;s price, saving you hundreds or perhaps thousands of dollars.</span></p>
<p><span class="Normal">Mike has also saved his clients quite a bit in taxes, as well…</span></p>
<p><span class="Normal"><strong>Investing in Art &#8211; Donating to IRS-Approved Charities</strong></span></p>
<p><span class="Normal">The 1995 Tax Act allows you to donate to any IRS-approved charity works of art at their fair market value, not at their cost basis. (Moreover, you can deduct the charitable gift&#8217;s fair market value on your return without being subject to the dreaded alternative minimum tax.) </span></p>
<p><span class="Normal">As Mike explains, &#8220;I work closely with published artists and sometimes acquire limited edition prints or serigraphs at a substantial discount to the current market value. Clients of mine purchase them far below their published cost &#8211; often for just a few thousand dollars &#8211; and later donated them to a local hospital or university at their appraised value, allowing them to save thousands of dollars in federal taxes.&#8221;</span></p>
<p><span class="Normal">The IRS requires you to hold these <a href="http://www.investmentu.com/IUEL/2006/20061217.html">art investments</a> for one year in order to donate them at their fair market value. And, of course, they&#8217;re beautiful. You may decide to just keep them. </span></p>
<p><span class="Normal">However, most of his clients donate them to a local hospital or their old alma mater &#8211; and get a tax deduction for the charitable contribution. (Or Mike can handle the donation for you.) </span></p>
<p><span class="Normal">For more information, feel free to contact Mike Kuschman at 800.229.4322 or 407.702.6638.  He&#8217;ll send you a complimentary brochure packet, detailing his services and the tax savings available.</span></p>
<p><span class="Normal">Over the next few weeks, I&#8217;ll be highlighting several other year-end tips for reducing your federal tax liabilities. </span></p>
<p><span class="Normal">At the rate Uncle Sam has been spending money lately, you can bank on taxes going up soon. </span></p>
<p><span class="Normal">It pays to plan today to keep your taxes low tomorrow. </span></p>
<p><a href="http://www.investmentu.com/IUEL/2008/October/investing-in-art.html">Source:  Investing in Art: One Asset That Has Increased in Value Lately</a><span class="Normal"><br />
</span></p>
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		<title>Exit Tax Passes Congress</title>
		<link>http://www.contrarianprofits.com/articles/exit-tax-passes-congress/2571</link>
		<comments>http://www.contrarianprofits.com/articles/exit-tax-passes-congress/2571#comments</comments>
		<pubDate>Wed, 28 May 2008 15:28:58 +0000</pubDate>
		<dc:creator>Dave Gonigam</dc:creator>
				<category><![CDATA[Politics & Economics]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[Foreign Investment]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[Permanent Resident]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[Royalty]]></category>
		<category><![CDATA[tax rates]]></category>
		<category><![CDATA[Wall Street]]></category>

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		<description><![CDATA[<p>The U.S. government is about to close off the last refuge for Americans who seek to escape the clutches of the IRS.</p>
<p>Every year, a few hundred Americans take the fateful step of surrendering their U.S. citizenship to avoid paying U.S. taxes. Many of them already live abroad, and are subject to U.S. law which — almost alone among the world&#8217;s nations — taxes the income of its citizens no matter where they live or where they earn that income.</p>
<p>Now, buried within a bill furnishing tax benefits for soldiers and veterans is a provision that amounts to an &#8220;exit tax.&#8221;  As <a href="http://online.wsj.com/article/SB121193252276024279.html?mod=hpp_us_personal_finance" target="_blank" onclick="javascript:urchinTracker ('/outbound/article/online.wsj.com');">explained</a>  by the <em>Wall Street Journal,</em> the law will &#8220;that will tax the assets of those who leave for good on their&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>The U.S. government is about to close off the last refuge for Americans who seek to escape the clutches of the IRS.<span id="more-2571"></span></p>
<p>Every year, a few hundred Americans take the fateful step of surrendering their U.S. citizenship to avoid paying U.S. taxes. Many of them already live abroad, and are subject to U.S. law which — almost alone among the world&#8217;s nations — taxes the income of its citizens no matter where they live or where they earn that income.</p>
<p>Now, buried within a bill furnishing tax benefits for soldiers and veterans is a provision that amounts to an &#8220;exit tax.&#8221;  As <a href="http://online.wsj.com/article/SB121193252276024279.html?mod=hpp_us_personal_finance" target="_blank" onclick="javascript:urchinTracker ('/outbound/article/online.wsj.com');">explained</a>  by the <em>Wall Street Journal,</em> the law will &#8220;that will tax the assets of those who leave for good on their way out the door, as if they were selling those assets.&#8221;</p>
<p>But wait, there&#8217;s more! In what looks like a hideous application of retroactive law, ex-U.S. citizens who die and leave their assets to heirs who retain their citizenship will find those assets taxed at 45% — the gift-tax rate.</p>
<p>And it gets still worse. The law applies not only to U.S. citizens, but also anyone who&#8217;s been a permanent resident longer than eight years. (Call this one the Foreign Investment Discouragement Clause.)</p>
<p>Given how this is buried in a popular bill that &#8220;supports the troops,&#8221; it&#8217;s sure to gain a presidential signature.</p>
<p>So, in effect, your only hope for preserving your wealth now is to grow it — grow it so large that you&#8217;ll be OK no matter how high our confiscatory tax rates end up looking like in the years ahead. (FDR maxed it out at 94%. Who says it can&#8217;t happen again?)</p>
<p>One possibility worth considering is something we call the <a href="http://www.isecureonline.com/Reports/MSS/EMSSJ565/?o=1490575&amp;u=16945153&amp;l=1582200" target="_blank" onclick="javascript:urchinTracker ('/outbound/article/www.isecureonline.com');">&#8220;Chaffee Royalty Program.&#8221;</a> On its first go-round, it turned every $1 invested into $50 — until it was closed in 2002. Now it&#8217;s open again… but be aware this <a href="http://www.isecureonline.com/Reports/MSS/EMSSJ565/?o=1490575&amp;u=16945153&amp;l=1582200" target="_blank" onclick="javascript:urchinTracker ('/outbound/article/www.isecureonline.com');">offer expires</a>  at midnight EDT tonight.</p>
<p>Sources: <a href="http://www.dailyreckoning.us/blog/?p=815">Exit Tax Passes Congress</a></p>
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		<title>Attack of the Control Freaks!</title>
		<link>http://www.contrarianprofits.com/articles/attack-of-the-control-freaks/2370</link>
		<comments>http://www.contrarianprofits.com/articles/attack-of-the-control-freaks/2370#comments</comments>
		<pubDate>Wed, 21 May 2008 20:28:24 +0000</pubDate>
		<dc:creator>Bob Bauman</dc:creator>
				<category><![CDATA[Politics & Economics]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Currency Controls]]></category>
		<category><![CDATA[Deficit]]></category>
		<category><![CDATA[dollar]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[Emerging Markets]]></category>
		<category><![CDATA[Hillary Clinton]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[Offshore Investments]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[us treasury]]></category>
		<category><![CDATA[Washington Bureaucrats]]></category>

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		<description><![CDATA[<p>Last week, many of the 280 attendees at our Total Wealth Symposium asked me the same question: They all wanted to know about the possibility of the U.S. government imposing exchange controls. </p>
<p>That is, they were concerned Washington bureaucrats might restrict the free flow of the dollar and other currencies in and out of the United States.</p>
<p>I raised the issue during my Panama presentation last week because frankly, I&#8217;m also concerned about the decidedly anti-free market, anti-offshore statements and actions of both of the Democrat Party presidential candidates.</p>
<h3 align="center">Failures at Economics 101</h3>
<p>That dynamic novice economist and statesman, Sen. Barack Obama (D-Ill), has proposed inane legislation in the U.S. Senate that could disrupt American trade and business. His legislation would blacklist 30&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>Last week, many of the 280 attendees at our Total Wealth Symposium asked me the same question: They all wanted to know about the possibility of the U.S. government imposing exchange controls. <span id="more-2370"></span></p>
<p>That is, they were concerned Washington bureaucrats might restrict the free flow of the dollar and other currencies in and out of the United States.</p>
<p>I raised the issue during my Panama presentation last week because frankly, I&#8217;m also concerned about the decidedly anti-free market, anti-offshore statements and actions of both of the Democrat Party presidential candidates.</p>
<h3 align="center">Failures at Economics 101</h3>
<p>That dynamic novice economist and statesman, Sen. Barack Obama (D-Ill), has proposed inane legislation in the U.S. Senate that could disrupt American trade and business. His legislation would blacklist 30 or so foreign jurisdictions (Switzerland and Panama included) for the manufactured sin of imposing little or no taxes.</p>
<p>He would also require Americans to report offshore financial activity of every kind and give the U.S. Treasury unprecedented power to set new rules over such activity.</p>
<p>In 2004, Hillary Clinton, as New York senator, made offshore an issue claiming she wanted to close &#8220;loopholes&#8221; for &#8220;&#8230;people who create a mailbox, or a drop, or send one person to sit on the beach in some island paradise and claim that it is their offshore headquarters.&#8221; (She announced this while her husband was raking in millions from cozy offshore investments his rich, new cronies handed him.)</p>
<p>Indeed both wannabe presidents, Clinton and Obama have denounced offshore investments and financial activity. They&#8217;re trying to imply that the millions of Americans who freely do business offshore are engaged in tax evasion and hiding cash from the IRS.</p>
<p>That is simply untrue.</p>
<p>Thus the serious question: If, God forbid, either wins the White House, can currency controls be next? In fact, under emergency laws still in effect, a president can impose such controls by executive decree.</p>
<h3 align="center">&#8220;Currency Controls&#8221; &#8211; What Are Those Again?</h3>
<p>As you read this, keep in mind that we are not talking peanuts here &#8211; nearly US$4 trillion in foreign exchange moves in the global economy every 24 hours.</p>
<p>Free currency convertibility means residents and non-residents of a country are able to exchange domestic currency for foreign currency. That means you can trade the weak dollar for the strong euro, for example. But there are many degrees of convertibility, depending on how governments want to manipulate currency.</p>
<p>In the extreme case government regulations might limit or prevent currency or bank deposits from being moved out of the country. Other restrictions might include banning the use of foreign currency within the country or banning residents from possessing foreign currency, restricting currency exchange to government-approved exchangers, setting official fixed exchange rates, or restricting the amount of currency that may be imported or exported.</p>
<h3 align="center">How Politicians Make Assets Worth Less</h3>
<p>In the past, certain politicians have claimed the need to apply exchange controls to maintain &#8220;orderly capital flows&#8221; and preventing &#8220;runs&#8221; on a currency. That happens when businesses and individuals quickly sell the currency in exchange for another currency that is seen as more stable and valuable. Of course, such trades are the essence of the free market economy.</p>
<p>As the late Nobel Prize winner Friedrich von Hayek wrote in his 1944 classic, <em>The Road to Serfdom</em>, &#8220;The imposition of exchange controls leads to an instantaneous reduction in the wealth of the country, because all assets are worth less.&#8221;</p>
<p>Such controls have been especially appealing to unthinking politicians in countries with large balance of payments (imports vs. exports) problems. The U.S. trade deficit at the moment is US$272 billion so far for 2008 and amounts to many trillions over recent years.</p>
<p>Free market advocates disapprove of exchange controls because they restrict trade and business transactions, especially in a time of beneficial globalism. Free exchange of currencies allows instant capital flows. That expands integration of the international economy through trade, foreign direct investment, migration, and the spread of technology.</p>
<p>This recent world boom has been largely caused by developed economies integrating with less developed economies, using foreign direct investment, the reduction of trade barriers, and the &#8220;westernization&#8221; of these developing cultures. Free currency exchange is the life blood of this growth.</p>
<h3 align="center">Controls Destroy Freedom</h3>
<p>It is no accident that among the few countries now enforcing currency controls are some of the most tyrannical. These include China, Cuba, Libya, Myanmar (Burma) and Venezuela &#8211; and some whose economies would fare far better without controls &#8211; The Bahamas, South Africa, Argentina.</p>
<p>In Hugo Chavez&#8217; anti-free market Venezuela, currency controls have produced shortages. They&#8217;re now lacking the basic foodstuffs such as milk, eggs and chicken, impeding imports and keeping out needed goods like capital machinery and spare parts out of reach for many businesses, which are now shutting down. In South Africa, a long-time system of dual currency controls has hampered growth and sustained a 25% unemployment rate, scaring away needed foreign capital.</p>
<p>Czar Nicholas II first pioneered limitations on convertibility in modern times. The Czar ordered the State Bank of Russia to introduce a limited form of exchange control in 1905-06. He wanted to discourage speculative purchases of foreign exchange.</p>
<p>Fortunately, the free market trend since the end of World War II has been to end exchange controls. Margaret Thatcher led the way in the 1970s. France abolished controls in 1990, after 44 years. The European Union&#8217;s adoption of the euro further did away with controls.</p>
<p>So could the U.S. buck the trend and start imposing these controls? Honestly, it is possible. History does not mean that statist politicians in America, hungry for more taxes to finance their radical spending, would shy away from imposing such controls &#8211; just as they repeatedly vow to &#8220;tax the rich.&#8221; All that it would require is the stroke of the new president&#8217;s pen.</p>
<p>What can you do about all this? If you are an American, know your candidates and cast your vote wisely this November. In the meantime, take advantage of your offshore financial freedoms while you still can.</p>
<p>BOB BAUMAN, Legal Counsel</p>
<p>Source: <a href="http://www.sovereignsociety.com/offshore2644.html">Attack of the Control Freaks!</a></p>
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		<title>Heart Attacks and Tax Codes</title>
		<link>http://www.contrarianprofits.com/articles/heart-attacks-and-tax-codes/1376</link>
		<comments>http://www.contrarianprofits.com/articles/heart-attacks-and-tax-codes/1376#comments</comments>
		<pubDate>Thu, 17 Apr 2008 19:59:08 +0000</pubDate>
		<dc:creator>Richard Daughty</dc:creator>
				<category><![CDATA[Politics & Economics]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[U.S. Tax Code]]></category>

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		<description><![CDATA[<p>Already beset by demons of my deteriorating mental and cardiac capacity, the idea that the capital gains tax was already 5% and I hadn&#8217;t even noticed had me in a panic! What else wasn&#8217;t I aware of? I shuddered to think!</p>
<p>Yes, it is true that The Mogambo had another heart attack (the third) and is now the proud owner of 5 cardiac stents. What caused this? The health care system did this to me, as I cannot find a physician who has an actual, real license to practice medicine who will prescribe a regimen of smoking cigarettes, drinking too much coffee, eating yummy foods laden with fat and/or sugar, and saving my strength by getting no exercise except for pounding&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p><span class="Body_Text">Already beset by demons of my deteriorating mental and cardiac capacity, the idea that the capital gains tax was already 5% and I hadn&#8217;t even noticed had me in a panic! What else wasn&#8217;t I aware of? I shuddered to think!</span><span id="more-1376"></span></p>
<p><span class="Body_Text">Yes, it is true that The Mogambo had another heart attack (the third) and is now the proud owner of 5 cardiac stents. What caused this? The health care system did this to me, as I cannot find a physician who has an actual, real license to practice medicine who will prescribe a regimen of smoking cigarettes, drinking too much coffee, eating yummy foods laden with fat and/or sugar, and saving my strength by getting no exercise except for pounding out voluminous, rabid hate mail to the Congress, the Supreme Court, the United Nations and various others, all of whom I absolutely despise for one reason or another.</span></p>
<p><span class="Body_Text">So, abandoned and cast adrift by an uncaring health care system, I was thus forced to carry on, tragically and heroically, alone. So I intend to sue the medical cartel for malign neglect and make a bundle in some undisclosed settlement.</span></p>
<p><span class="Body_Text">Anyway that was my original plan, but now I can&#8217;t seem to find a lawyer who has an actual, real license to practice law who will even discuss the merits of my case, and usually they laugh in my face and call me bad names whether they have a license or not. No wonder people hate lawyers!</span></p>
<p><span class="Body_Text">And I hadn&#8217;t even gotten to the point in the discussions where I was going to ask them to represent me pro bono, which is where the fireworks usually start!</span></p>
<p><span class="Body_Text">So I have given up that whole legal strategy since it looks like the lawyers are in league with the doctors and everybody else to make my life miserable, and am now thinking of suing the Internal Revenue Service instead, because about this time, while I was doing my taxes, I noticed that on page 21 of the IRS&#8217;s &#8220;1040 Forms and Instructions 2007&#8243; booklet labeled &#8220;What&#8217;s new for 2008&#8243;, it clearly says that &#8220;The 5% capital gain tax rate is reduced to zero.&#8221;</span></p>
<p><span class="Body_Text">Already beset by demons of my deteriorating mental and cardiac capacity, the idea that the capital gains tax was already 5% and I hadn&#8217;t even noticed had me in a panic! What else wasn&#8217;t I aware of? I shuddered to think!</span></p>
<p><span class="Body_Text">So I ran out and accused my wife of every faithlessness and infidelity I could think of, and she denied most of them, and then I grilled the kids for a few hours, but I got nothing out of them either. So at least THAT part of my life is unchanged.</span></p>
<p><span class="Body_Text">Then, after getting everyone into an uproar by roughly searching their rooms for incriminating evidence of their treason, I decided that I had better re-check my facts, to keep from going off half-cocked and, you know, looking foolish or something.</span></p>
<p><span class="Body_Text">So I flip to Schedule D of the tax booklet, and of course, referencing all the accompanying tables and worksheets, I am immediately as confused as always, and I suddenly remember precisely why I hate the members of the U.S. Congress who have saddled us with such an embarrassment as the U.S. Tax Code, and how I am waaAAAaaay behind on sending these losers and halfwit scumbags their fair share of vicious hate mail.</span></p>
<p><span class="Body_Text">But it still looks like the capital gains tax rate is still 15% in 2007, so what in the hell is going on?</span></p>
<p><span class="Body_Text">And of course, I missed my planned dinner with <a href="http://dailyreckoning.com/Writers/ChuckButler.html" title="Chuck Butler bio">Chuck Butler</a> of <a href="http://www.everbank.com"  class="alinks_links" onclick="return alinks_click(this);" title=""  style="padding-right: 13px; background: url(http://www.contrarianprofits.com/wp-content/plugins/alinks/images/external.png) center right no-repeat;" rel="external">Everbank</a>, which bummed me out, too.</span></p>
<p><span class="Body_Text">All in all, it was a bad week. But as bad as things are, there is some good news, in that Mr. Butler has never seen my famous, &#8220;Look! There&#8217;s a UFO in the parking lot!&#8221; trick, where he ends up comically getting stuck with the check and the only thing he sees in the parking lot is me, running towards my car and laughing, laughing, laughing.</span></p>
<p><span class="Body_Text">So, the good news is that I can still pull this little stunt on him in the future and get a free lunch, in case I ever find out he is going to be in town again. And so, as Groundskeeper Carl said in the movie Caddie Shack, I got that going for me!</span></p>
<p><span class="Body_Text">Like the saying goes; it&#8217;s an ill wind that doesn&#8217;t blow somebody some good!</span></p>
<p><span class="Body_Text"><strong>P.S.</strong> To get The <a href="http://www.dailyreckoning.com"  class="alinks_links" onclick="return alinks_click(this);" title=""  style="padding-right: 13px; background: url(http://www.contrarianprofits.com/wp-content/plugins/alinks/images/external.png) center right no-repeat;" rel="external">Daily Reckoning</a> sent directly to your inbox, <a href="http://dailyreckoning.com/Sub/DRsite.html" title="Daily Reckoning sign up">sign up for our free email newsletter</a>, or if you prefer to use RSS, subscribe to the <a href="http://feeds.feedburner.com/dailyreckoning" title="RSS sign up">Daily Reckoning RSS feed</a>.</span></p>
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		<title>Shield Yourself from this Global Food Crisis</title>
		<link>http://www.contrarianprofits.com/articles/shield-yourself-from-this-global-food-crisis/1236</link>
		<comments>http://www.contrarianprofits.com/articles/shield-yourself-from-this-global-food-crisis/1236#comments</comments>
		<pubDate>Sat, 12 Apr 2008 21:45:08 +0000</pubDate>
		<dc:creator>Kathlyn Von Rohr</dc:creator>
				<category><![CDATA[Politics & Economics]]></category>
		<category><![CDATA[bear market]]></category>
		<category><![CDATA[commodities]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[food crisis]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[Price Hike]]></category>
		<category><![CDATA[stagflation]]></category>

		<guid isPermaLink="false">http://www.contrarianprofits.com/articles/shield-yourself-from-this-global-food-crisis/</guid>
		<description><![CDATA[<p>From the <em>Wall Street Journal</em> to the <em>Gulf Daily News</em>&#8230;from hungry rioters in Argentina to pasta protesters in Italy&#8230;everyone seems to have something to say about rising food prices and the outright deadly inflation that&#8217;s sweeping the globe.</p>
<p>But what can you do about it? How can you protect yourself? Even better &#8211; how can you make up to 910% from this sudden surge in commodities, so you can fight back the sudden price hike in your grocery bills?</p>
<p> 				    <strong> 				    April 7– April 11</strong> 				  <br />
<a href="http://www.sovereignsociety.com/offshore2507.html" target="_blank"></a><a href="http://www.sovereignsociety.com/offshore2572.html" target="_blank"><strong>Has the U.S. Dollar Bottomed at Last? </strong></a><em>4/7/08</em><br />
By Jack CrooksThink the dollar is out for the count? Actually it looks like the dollar could have a short-term bounce coming.</p>
<p><a href="http://www.sovereignsociety.com/offshore2576.html" target="_blank"><strong>Auditing the Annual IRS &#8220;Fear Campaign&#8221; </strong></a> <em>4/8/08</em><br />
By Bob Bauman</p>
<p>Here&#8217;s the uncensored truth behind&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>From the <em>Wall Street Journal</em> to the <em>Gulf Daily News</em>&#8230;from hungry rioters in Argentina to pasta protesters in Italy&#8230;everyone seems to have something to say about rising food prices and the outright deadly inflation that&#8217;s sweeping the globe.<span id="more-1236"></span></p>
<p>But what can you do about it? How can you protect yourself? Even better &#8211; how can you make up to 910% from this sudden surge in commodities, so you can fight back the sudden price hike in your grocery bills?</p>
<p><center> 				    <strong> 				    April 7– April 11</strong> 				  </center><br />
<a href="http://www.sovereignsociety.com/offshore2507.html" target="_blank"></a><a href="http://www.sovereignsociety.com/offshore2572.html" target="_blank"><strong>Has the U.S. Dollar Bottomed at Last? </strong></a><em>4/7/08</em><br />
By Jack CrooksThink the dollar is out for the count? Actually it looks like the dollar could have a short-term bounce coming.</p>
<p><a href="http://www.sovereignsociety.com/offshore2576.html" target="_blank"><strong>Auditing the Annual IRS &#8220;Fear Campaign&#8221; </strong></a> <em>4/8/08</em><br />
By Bob Bauman</p>
<p>Here&#8217;s the uncensored truth behind this year&#8217;s IRS-sponsored PR fear campaign &#8211; that&#8217;s designed to get you to pay your taxes, or else.</p>
<p><strong><a href="http://www.sovereignsociety.com/offshore2577.html" target="_blank">Get Set for Multi-Year Gains in the Grains and  			        More Red Hot<br />
Commodity Plays </a></strong> <em>4/9/08</em><br />
By Eric Roseman</p>
<p>These two commodities will give you the greatest returns over the next 36 months &#8211; even as the world sinks into a stock bear market.</p>
<p><strong><a href="http://www.sovereignsociety.com/offshore2582.html" target="_blank">Your Best Defense Against Inflation and a Falling Dollar– that’s Even Stronger Than the Mighty Euro</a></strong> <em>4/10/08</em><br />
By Eric RosemanFind out how to combat dangerous inflation and even stagflation with a handful of well-chosen commodities.</p>
<p><strong><a href="http://www.sovereignsociety.com/offshore2588.html" target="_blank">Feed the World and Your Portfolio 		          </a></strong> <em>4/11/08</em><br />
By Eric Roseman</p>
<p>This year is the perfect storm for commodities &#8211; especially the commodities served on your dinner table.</p>
<p>Until Next Weekend,<br />
Kathlyn Von Rohr<br />
Weekend A-Letter Editor</p>
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		<title>IRS Loopholes: Income Tax Propaganda</title>
		<link>http://www.contrarianprofits.com/articles/irs-loopholes-income-tax-propaganda/1122</link>
		<comments>http://www.contrarianprofits.com/articles/irs-loopholes-income-tax-propaganda/1122#comments</comments>
		<pubDate>Thu, 10 Apr 2008 12:06:47 +0000</pubDate>
		<dc:creator>Bob Bauman</dc:creator>
				<category><![CDATA[Politics & Economics]]></category>
		<category><![CDATA[]]></category>
		<category><![CDATA[American Debt]]></category>
		<category><![CDATA[Debt Crisis]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[Income Tax Filing]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[taxes]]></category>

		<guid isPermaLink="false">http://www.contrarianprofits.com/articles/irs-loopholes-income-tax-propaganda/</guid>
		<description><![CDATA[<p>Each year, as dependable as the arrival of spring, the fear mongers at the IRS launch into their annual campaign to scare the American public. The annual campaign begins with a barrage of press releases. The PR specialists at the IRS start sending them three months before the annual in<code></code>come tax filing date. About this time each year, the IRS antics bring to mind the late, unlamented Josef Goebbels. In case you’re unfamiliar with the name, Dr. Goebbels was Adolf Hitler’s infamous minister of propaganda.</p>
<p>It was Dr. Goebbels who observed: “Propaganda has only one object; to conquer the masses. Every means that furthers this aim is good; every means that hinders it is bad.”</p>
<p>Fear was the Nazi stock in trade.&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>Each year, as dependable as the arrival of spring, the fear mongers at the IRS launch into their annual campaign to scare the American public. <span id="more-1122"></span>The annual campaign begins with a barrage of press releases. The PR specialists at the IRS start sending them three months before the annual in<code></code>come tax filing date. About this time each year, the IRS antics bring to mind the late, unlamented Josef Goebbels. In case you’re unfamiliar with the name, Dr. Goebbels was Adolf Hitler’s infamous minister of propaganda.</p>
<p>It was Dr. Goebbels who observed: “Propaganda has only one object; to conquer the masses. Every means that furthers this aim is good; every means that hinders it is bad.”</p>
<p>Fear was the Nazi stock in trade. They used fear as a potent psychological weapon in their efforts to direct and control the German masses.</p>
<p>~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<wbr></wbr>~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~</p>
<p><strong>American Debt Crisis Set to Implode</strong></p>
<p>Ben Bernanke is just DAYS away from  unwinding the world’s biggest bet -</p>
<p>and his actions could spin markets  into a “deflationary, global collapse.”</p>
<p>To learn his dirty little secret &#8211;  and grab potential gains of 319% or MORE,</p>
<p><a href="http://www.isecureonline.com/reports/MTR/WMTRJ302" target="_blank">read Jack Crooks’  latest report</a>.</p>
<p>~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<wbr></wbr>~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<wbr></wbr>~~~~~~~~~~~~~</p>
<p>And each year, as dependable as the arrival of spring, the fear mongers at the IRS launch into their annual campaign to scare the American public.</p>
<p><strong>IRS Loopholes: The annual campaign</strong></p>
<p>The annual campaign begins with a barrage of press releases. The PR specialists at the IRS start sending them three months before the annual income tax filing date, April 15th (a week from today). The press releases are more than just friendly “please file your taxes” reminders. They announce (or you could say, “brag about”) the convictions of an assortment of alleged tax evaders. This scare tactic has become a ritual to frighten U.S. taxpayers into paying up. <a href="http://www.sovereignsociety.com/offshore2576.html" target="_blank">Read on to learn this year’s IRS propaganda tactics</a>.</p>
<p>****Make sure you sign up for our <em><strong>free</strong></em> TFN News Feed for breaking news, special reports and new financial videos. You  can <a href="http://www.todaysfinancialnews.com/rss-feed-favorites/" title="Link to Todays Financial News free reader" target="_blank">pick your favorite reader </a>.  Or if you prefer, you can have the feed <a href="http://www.todaysfinancialnews.com/tfn-freesignups/signup02-gen.html" title="your free email subscription to Todays Financial News" target="_blank">delivered to your  email</a>.</p>
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