Or, to avoid the 30% tax on their US earnings, non US banks will
report the account details to the IRS. Most
likely, other countries will do this also if they don't already do
it.
The 30% applies to institutional earnings. Here is a
summary.
"UNDER the bill, a 30 percent withholding tax would be imposed
on foreign financial institutions that refuse to provide details on
their United States clients’ accounts, such as who owns them and
how much money moves through them. The tax would be assessed on
earnings generated by investments these foreign institutions have
in United States Treasury securities, stocks, bonds or debt and
equity interests in American businesses.
The law was written broadly and covers banks, hedge funds,
securities houses, derivatives dealers, commodity traders and
private equityfirms. Indeed, any financial firm that holds or
trades assets for its own account or for clients must comply with
the new reporting requirements.
It will be up to the Treasury Department to decide how the law
applies to insurance companies."
There are short times when the dollar and gold moved higher
together, like from Nov 2008 to Mar 2009 during the market
drop. That not typical. Gold and the dollar move inversely
over time. see chart
The lack of strong opinion is the reason for
frustration rather than the lack of financial education. Most
members have read the books and can interpret charts themselves.
That is not why they joined. They joined to hear
and evaluate the opinions and interpretations of others.
Without strong opinions and interpretations, the
group has little value.
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Or, to avoid the 30%
US imposes capital controls and NO ONE HAS REPORTED IT IN THE MAINSTREAM MEDIA
Posted by dommyv on 29th of Mar 2010 at 05:12 pm
Or, to avoid the 30% tax on their US earnings, non US banks will report the account details to the IRS. Most likely, other countries will do this also if they don't already do it.
The 30% applies to institutional
US imposes capital controls and NO ONE HAS REPORTED IT IN THE MAINSTREAM MEDIA
Posted by dommyv on 29th of Mar 2010 at 03:01 pm
The 30% applies to institutional earnings. Here is a summary.
"UNDER the bill, a 30 percent withholding tax would be imposed on foreign financial institutions that refuse to provide details on their United States clients’ accounts, such as who owns them and how much money moves through them. The tax would be assessed on earnings generated by investments these foreign institutions have in United States Treasury securities, stocks, bonds or debt and equity interests in American businesses.
The law was written broadly and covers banks, hedge funds, securities houses, derivatives dealers, commodity traders and private equityfirms. Indeed, any financial firm that holds or trades assets for its own account or for clients must comply with the new reporting requirements.
It will be up to the Treasury Department to decide how the law applies to insurance companies."
The New York Times covered
US imposes capital controls and NO ONE HAS REPORTED IT IN THE MAINSTREAM MEDIA
Posted by dommyv on 29th of Mar 2010 at 02:50 pm
The New York Times covered this on Friday in an article about closing of tax avoidance loopholes.
http://www.nytimes.com/2010/03/28/business/28gret.html?scp=1&sq=us%20account&st=cse
There are short times when
who says prechter is bearish on gold?
Posted by dommyv on 6th of Nov 2009 at 10:29 am
There are short times when the dollar and gold moved higher together, like from Nov 2008 to Mar 2009 during the market drop. That not typical. Gold and the dollar move inversely over time. see chart
Title: Trading Styles The lack
Amazing newsletter last night, Steve
Posted by dommyv on 30th of Oct 2009 at 10:38 am
The lack of strong opinion is the reason for frustration rather than the lack of financial education. Most members have read the books and can interpret charts themselves. That is not why they joined. They joined to hear and evaluate the opinions and interpretations of others. Without strong opinions and interpretations, the group has little value.