The Dead Hedge Fund Manager Bounce

If you read my letter last week, you know I have now escaped from America.  Last week we moved to Riga, Latvia.  It was a hellish plane ride riddled with delays, running through the airport baggage bouncing behind, barely making connections, and lost luggage.  You name it, it went wrong. Now that we are settled […]

I’m Not Chicken Little

Last night I was working a bit on the computer on a couple of new projects. I found years ago that running multiple monitors dramatically increases my productivity. I keep various tasks on the monitors eliminating the need to switch back and forth. It really is a time saver. On one of the monitors I […]

Can I Buy You a Drink?

Sometimes I feel like we are living in George Orwell’s “1984”. Over the past few weeks we have now heard Obama and Geitner call for a major overhaul of the US tax code with an emphasis on LOWERING the corporate tax rate. Wait a minute. Didn’t we just spend the last few months listening to […]

Russia to Diversify out of US Dollars

According to a recent Bloomberg article, Russia is adding Australian and Canadian dollars to its international reserves.  The Russian central bank deputy chairman, Alexei Ulyukayev along with Dmitry Medvedev have recently suggested that the world needs a new reserve currency and the US dollar no longer should be used. Central banks around the world have […]

Obama’s Offshore Vendetta

A few weeks ago I attended the Fonds Fair in Zurich.  I was there primarily to listen to a few key presentations including Jim Rogers speaking on the future of the commodities markets. While at the conference, I also attended a presentation given by the CIO of Blackrock discussing the energy market. It was quite enlightening and […]

Swiss Private Banks Refusing US Clients

This week I am attending an investment conference in Zurich called Fonds 2010.  I spent the day walking through the exhibitor area speaking to Swiss private banks, investment firm managers, hedge fund managers, and most any other type of investment professional you can think of. I approached one unnamed banker and asked if his company […]

Currency controls – Part 2

In the future, we may be restricted from wire transfers, cash transactions, owned foreign businesses, or many other controls policymakers can conjure up.  There is already discussion about any transfer of funds over $1,000,000 requiring approval from the US Treasury Department.  What if they decide to block your transfer of funds?  A more serious threat […]

US citizens need to prepare for currency controls – Part 1

There has been some talk lately about future currency controls in the US.  What we don’t realize is that we already have currency controls.  Have you ever flown outside of the US and had to fill out that form asking you to declare any currency over $10,000?  Do you know why they want to know […]