Friday, April 03, 2015

More Unofficial U.S. Capital Controls
International Man's Nick Giambruno explains the difficulty for Americans abroad to invest in non-U.S. based investments .. in this case it is called Passive Foreign Investment Company (PFIC) - the could be "foreign" mutual funds or "foreign" stocks .. the complexity of the paperwork for Americans to file when investing in PFIC makes it so onerous & legally prone to risk that it is effectively just not worth it & outright dangerous for Americans to do so - as such, the U.S. is effectively "forcing" Americans to keep their money at home & invested in U.S.-based investments .. "Capital controls are used by many countries and come in all sorts of shapes, sizes, and labels. The purpose, however, is always the same: to restrict and control the free flow of money into and out of a country so that the politicians have more wealth at their disposal to plunder. Taking a step back and looking at the big picture, it’s clear the PFIC rules are part of the long-term trend of the U.S. government using burdensome regulations to effectively shrink the number of options available for those seeking to diversify internationally. These roadblocks are a clue as to how desperate and bankrupt it really is. You shouldn’t be deterred, as that is exactly what the politicians want to happen. They prefer your savings remain within their immediate reach so that it’s easier to fleece."
LINK HERE to the article

1 comment:

Anonymous said...

ALS patients press FDA for quick access to controversial biotech drug

Then in the fall, a small California biotech company named Genervon began extolling the benefits of GM604, its new ALS drug. In an early-stage trial with 12 patients, the results were “statistically significant,” “very robust” and “dramatic,” the company said in news releases.

Such enthusiastic pronouncements are unusual for such a small trial. In February, Genervon took an even bolder step: It applied to the Food and Drug Administration for “accelerated approval,” which allows promising treatments for serious or life-threatening diseases to bypass costly, large-scale efficacy trials and go directly to market.

ALS patients responded by pleading with the FDA, in emotional videos and e-mails, to grant broad access to the experimental drug. Online forums lit up, and a petition calling for rapid approval attracted more than a half-million signatures.

“Why would anyone oppose it?” asked ALS patient David Huntley in a letter read aloud in the past week at a rally on Capitol Hill. Huntley, a former triathlete, can no longer speak or travel, so his wife, Linda Clark, flew from San Diego to speak for him.

“This disease is evil,” Huntley wrote. “It doesn’t just kill you; it takes away everything that you care about, one at a time, then it kills you. Tell me how some as-yet-to-be-detected side effect is going to degrade my quality of life?”

Health controls.