By Nick Giambruno A grand slam in baseball, as many of you know, is a home run that is hit when the bases are loaded, in turn scoring four runs. It is the most potent move possible in a single play. In a similar sense, obtaining real estate in a foreign country is an international diversification grand slam – it can accomplish four key goals all at once: 1. Move Savings/Wealth Abroad Owning foreign real estate moves your savings and wealth offshore and therefore outside of the immediate reach of your home government. Unlike an intangible financial account, it is highly unlikely for your foreign real estate to be seized at the drop of a hat by your home country, without a literal act of war. 2. Create Other Internationalization Options In most cases, owning foreign real estate in a country provides a valid justification for you to open a … Continue reading
February 2, 2015 Martin Armstrong COMMENT: My wife took our 4-year old Alex to the bank today to open a savings account for him with his piggy bank of about 10k baht ($333.00). The teller noticed he was half Thai and asked if he was American, to which she said he was both Thai and American. The teller: “We won’t open an account for him because we have to report him to the IRS.” So my wife said “open it as a trust account as a Thai citizen.” The teller: “Can’t do that. It’s evading U.S. regulations.” End result: Alex can’t open an account here. Amazing, simply amazing. REPLY: FATCA is the worst law perhaps in history. It is prejudicial to Americans and it is wiping out the world economy at an incredible speed. It is also forcing Americans to abandon international business and bring all money home even if … Continue reading
Currency war: Who will be the casualties? Sara Eisen | @saraeisen Friday, 23 Jan 2015 | 9:45 AM ET Central banks are in combat mode. On the front lines: Europe, Denmark, Canada, Switzerland, Peru and India. Each of their central banks has taken unprecedented and dramatic action to ease policy and weaken their currencies in the past few days. Central bankers may say they’re ramping up the fight against worryingly low inflation, exacerbated by the dramatic plunge in oil prices. But the immediate, and perhaps most effective, impact of the easier monetary policy moves is being felt in the foreign exchange market. “We are in currency wars,” Goldman Sachs President and COO Gary Cohn told a panel discussion at the World Economic Forum in Davos, Switzerland. “The prevailing view is that the easy way to stimulate economic growth is to have a low currency.” Simon Dawson | Bloomberg | Getty Images An employee … Continue reading
The Gold Report
A plan to build roads into mining projects. Tax breaks for junior mining companies. Does the return to power of the Parti Québécois signal the end to the province’s mining-friendly policies? Unlikely, according to Eric Lemieux, equity analyst with Laurentian Bank Securities. In this exclusive interview with The Gold Report, Lemieux says that even if the PQ tweaks current policy, it will take time, and he believes there are plenty of good stories to tell and invest in before that happens.
The Gold Report: Eric, you primarily cover mining companies in Québec, one of Canada’s most mining-friendly provinces. However, last month the Parti Québécois (PQ) won a minority mandate. Are the glory days for Québec’s mining sector over?
Eric Lemieux: Without saying the glory days are over, the election of the Parti Québécois will definitely put things on hold. The PQ has a very pro-environment and anti-mining perspective based on the personal convictions of certain ministers.
Read the full interview . . .