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Guest Post: US Citizens Pay Attention To This

Tyler Durden's picture


Submitted by Simon Black from Sovereign Man

US Citizens Pay Attention To This

I was sitting across from an impossibly blonde account executive this afternoon when I heard three words I never thought I’d hear at a foreign bank.

“Are you Greek,” she asked me with a bit of a smile…

me: “Uh, no. I have a US passport, among others…”

she: “OK good, as long as you’re not Greek.”

I couldn’t believe what I was hearing. Let me explain.

As you may know, US citizens have long been the world’s banking pariah thanks to a piece of remarkably stupid legislation called the Foreign Account Tax Compliance Act (FATCA).

FATCA was passed a few years ago as part of a greater US government effort to create jobs. And boy was it successful– thousands of new jobs were created as a result of the legislation. Unfortunately, most of the new jobs are for tax collectors.

In short, FATCA requires EVERY BANK IN THE WORLD to sign an information-sharing agreement with the IRS. No matter what. Even the tiniest bank in Bhutan that has never seen a foreigner walk through its doors has to jump in bed with the IRS.

What’s more, if banks don’t comply (or even know about the law), the US government will severely penalize them with a 30% withholding tax on most funds routed through the US.

This stunning arrogance is a key reason why US citizens have been turned away from so many foreign banks over the past few years; banks simply didn’t want to deal with Uncle Sam. From Panama to Singapore to Switzerland, US citizens have been shut out of many banks.

But after years of this trend building, I’m starting to see signs of it breaking. FATCA initially sent shockwaves through the worldwide banking industry, and after years of lobbying their own governments, a compromise appears to have been reached.

The new model is that governments are inking information-sharing agreements directly with each other. In other words, foreign banks will send information to their governments, and the governments will share information with other governments.

This approach gets banks off the hook from having to deal with Uncle Sam, yet it still fulfills the original spirit of FATCA: destroy financial privacy. Mission Accomplished.

The good news is that a lot more foreign banks are receptive to having US customers. Which brings me back to my experience today in Norway.

The banker didn’t care that I have a US passport. US customers are OK once again, it’s now Greek customers who are the banking pariah du jour.

You may recall from our previous discussions that the Greek government has taken the liberty of confiscating funds directly from people’s bank accounts at will. If they decide (in their sole discretion) that you might be a tax cheat, they take your money. No questions asked.

Naturally, many Greeks are now desperately trying to move their funds abroad. Unfortunately for them, some banks just don’t want to be caught in the middle of this feud.

The result? Many banks are starting to turn away Greek customers or mandate large initial deposit requirements in excess of 500,000 euros.

It’s a classic example of what happens when people wait too long. Some folks took action early and are sleeping well. Others saw the writing on the wall and did nothing. They waited until the tax authorities were en route to even begin thinking about ways to protect their savings.

History shows that bankrupt governments routinely resort to plundering their citizens’ wealth to keep the party going.

Bottom line, if your government is insolvent, your savings are at risk. And opening a foreign bank account is one of the most important things you can do for your savings. Greeks are starting to figure this out the hard way.


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Mon, 08/06/2012 - 13:04 | 2682035 taraxias
taraxias's picture

Tylers stop posting this mug's science fiction for fuck sakes.

Mon, 08/06/2012 - 13:09 | 2682050 Pladizow
Pladizow's picture


Then we dont have to read your stupid comments!

Mon, 08/06/2012 - 13:28 | 2682126 iDealMeat
iDealMeat's picture

+1,  I got as far as:  Submitted by Simon Black from..


and stopped.. 

Mon, 08/06/2012 - 13:33 | 2682134 francis_sawyer
francis_sawyer's picture

It's like getting RICKROLLED...


Simon Black Guest Post =

Mon, 08/06/2012 - 14:17 | 2682310 FEDbuster
FEDbuster's picture

Attn. Greeks looking to find safe haven for their money (btw banks aren't a safe haven).  $100K = about 4 lbs. of gold, so unless you are multi-millionaire.....

Mon, 08/06/2012 - 14:45 | 2682421 nope-1004
nope-1004's picture

Norway?  WTF is in Norway that is so important?  And for that matter, Chili, Argentina, Switzerland, Peru, Singapore, Thailand, or Ecuador?  I fail to see why dropping every location you find on a map in every article makes your prognositcations more valid.


Mon, 08/06/2012 - 15:33 | 2682528 Doña K
Doña K's picture

There is a solution to this problem. Get another passport if you don't have one already. The rest is noise

Mon, 08/06/2012 - 16:43 | 2682789 Popo
Popo's picture

Simon Black = pure fiction.

The purpose of his posts is solely to portray Simon as an international man of mystery,  instead of a blogger with back pack and a netbook.

He's a pathological liar.  And it's painfully obvious.

Tyler:  Please put author's names on the home page so that we can at least choose to avoid this loser.

Mon, 08/06/2012 - 19:04 | 2683103 Neethgie
Neethgie's picture

i cannot believe i keep getting SB'd its so infuriating, he reminds me of the guy from spitting image (old uk show)

I've travelled this old world of ours from Barnsley to Peru I've had sunshine in the arctic and a swim in Tinbuktu I've seen unicorns in Burma and a Yetti in Nepal And I've danced with ten foot pygmies in a Montezuma hall I've met the King of China and a working Yorkshire miner But I've never met a nice South African.

reminds me of the soveriegn man article so badly.. constant hollow brags, its like "are you greek" Why the fuck would someone ask you that simon? why on earth would someone who is opening a bank account with the name SIMON BLACK be asked that? its hardly george papandreou is it. its pure fiction i keep accidentally reading.

Mon, 08/06/2012 - 21:43 | 2683462 Imminent Crucible
Imminent Crucible's picture

"opening a bank account with the name SIMON BLACK"

If you've never seen his site, he tells you up front that Simon Black is not his real name, for obvious reasons. So he wasn't opening a bank account with the name Simon Black, but with his real name, which is Warburg. Or Feinstein. Or Blankfein, or something.

Most likely she asked him "Are you Greek?" before he had a chance to say, "I'm the world famous traveler Simon Blakopolous."

His last three sentences justify the rest of the article. He's not writing fiction.

Mon, 08/06/2012 - 21:46 | 2683481 Neethgie
Neethgie's picture

has he ever met a nice south african though?



Tue, 08/07/2012 - 01:09 | 2683881 terryfuckwit
terryfuckwit's picture

i read without noting the author and thought this article ok..but the previous article was a proper bag of shite..

hope this may inform the debate

Tue, 08/07/2012 - 02:24 | 2683923 Popo
Popo's picture

No it's not ok.  First off, one should note:  "The banker didn’t care that I have a US passport. US customers are OK once again, "

So it's 100% admitted that he's a US citizen.

One should also note that US citizens *cannot* escape taxation by being an expat.  Which renders pretty much every one of his articles complete b.s. because his whole message is: "Save yourselves from the coming tax regime by living abroad".

Of all the people in the world who you would *think* had given up their US nationality -- don't you think Mr. Sovereign Man would be one of them?   Turns out:  No.  He's still got his US passport.

That's just the beginning of the lies.  The rest are the endless proclamations of having 100's of international clients.  Along with other proclamations that "you have to lie about your success in order to become successful".   (Read between the lines, and it's easy to see that Simon Black is himself a lie).

Then there's the completely absurd advice of which countries it's "better" to do business in:  Cambodia?  Chile?  LOLOLOL.  I do regular business in Cambodia and it's a crap shoot.  And Chile?  OMFG.  If you have good government connections and know how to pay your "tea money" maybe you'll be ok.  Would I recommend it to potential neophyte expats?  Fuck no.

Simon's market is only those less experienced, and more stupid than he is.   Follow him at your own peril. 

And to top it off, he's a douche.



Tue, 08/07/2012 - 04:10 | 2683987 merizobeach
merizobeach's picture

"US citizens *cannot* escape taxation by being an expat."  That's false.  You're obviously doing it wrong.

Mon, 08/06/2012 - 14:24 | 2682344 Dr Benway
Dr Benway's picture

Aggghhh SB got me again!


You are right, it's the new rickroll. "Hey I got some analysis you GOTTA see, click the link lol!"


Plus I'm starting to think SB never leaves his basement, and all these globe-trottin' high-falutin' big-uppin' stories are just the demented fantasies of a pathological liar.

Mon, 08/06/2012 - 19:11 | 2683115 TheFourthStooge-ing
Mon, 08/06/2012 - 13:35 | 2682145 disabledvet
disabledvet's picture

This article is SPOT ON. Only an idiot responds by saying "it can't happen here."

Mon, 08/06/2012 - 13:39 | 2682156 toady
toady's picture


I've started glancing at commenter's names too so I can skip a select few's comments. It's amazing how much time is saved by skipping a long thread of feud.

Still, Mr Durden is to be commended for allowing a free and open exchange of ideas.

Mon, 08/06/2012 - 13:46 | 2682180 MFLTucson
MFLTucson's picture

Too hard for you to read?

Mon, 08/06/2012 - 19:40 | 2683167 vato poco
vato poco's picture

"Hard to read"? Nah, just obvious bullshit. Kinda funny, but bullshit nonetheless.

"Whilst I was whiling away the hours with a gin slozzle in the bar at Babgkok's fabled Mandarin Oriental, having wearied of the tiresome lustful glances constantly shot my way by the elegant, scantily-dressed buxom beauties at Sky Bar, I was minded of the time I was attacked by a pack of cobras at Angkor Wat. And of the grateful ministrations of the 3 lissome young Cambodian Women I saved when I killed them all with my Spyderco Harpy. Suddenly, a dusky beauty slid into my booth!! 'Shhhh!', she whispered fiercely. 'Are you Greek, by any chance?!!' "

Mon, 08/06/2012 - 19:59 | 2683190 buckethead
buckethead's picture

Now this is how to embellish!


Mon, 08/06/2012 - 14:10 | 2682292 MSimon
MSimon's picture



Try this


And tell me how the terrorists can move the money with all these controls in place? The banks are complicit. It is their #1 profit center.

Mon, 08/06/2012 - 14:30 | 2682363 SubjectivObject
SubjectivObject's picture

Good point. 

Mon, 08/06/2012 - 13:38 | 2682139 LouisDega
LouisDega's picture



Mon, 08/06/2012 - 13:45 | 2682167 The Big Ching-aso
The Big Ching-aso's picture



As much phuckin time he's up in the air why's he so concerned about what happens on earth?

Mon, 08/06/2012 - 14:28 | 2682356 Dr Benway
Dr Benway's picture

Look, you believe me when I say I certainly would not be clicking these articles if I knew they were by the utterly redundant Simon Black.



Mon, 08/06/2012 - 14:33 | 2682373 sessinpo
sessinpo's picture

Thank goodness you didn't tell him to jump off a bridge. Some people can't think for themselves.

Mon, 08/06/2012 - 13:24 | 2682054 TruthInSunshine
TruthInSunshine's picture

My experience (true story, bros):


I was sitting across from an impossibly blonde account executive this afternoon when I heard three words I never thought I’d hear at a f*cking whore bank (a best friend forever criminal racketeer of the New York Branch of the Federal Mother Whore Reserve).

“You like it Greek,” she asked me with a bit of a smile…

me: “Uh, no. Your bank is really amazing at giving it to your customers 'Greek,' among other treatment, so I get 'Greek' any time I have to deal with you scumbags…”

she: “OK good, as long as you don't like it Greek,” she replied as she put the large dildo she had started to retrieve back in her desk drawer.

she: "You do know that Bernanke & Geithner love it Greek, with midgets, donkeys, hot honey and candle wax...lots and lots of hot candle wax, right? Bernanke is probably the most sick, twisted pervert I've ever been forced to deal with, with his tiny penis and Mommy fantasies."

I couldn’t believe what I was hearing and seeing. Let me explain.

Mon, 08/06/2012 - 13:26 | 2682119 Hype Alert
Hype Alert's picture

Now what does any of this have to do with hitting 1400?  And with pathetic volume today, what's taking so long?  Even SPY is weak.  Seriously, WTF is up?

Mon, 08/06/2012 - 13:43 | 2682169 Precious
Precious's picture

maybe some connection ... pathetic volume because everybody took an early lunch and is getting laid...

Mon, 08/06/2012 - 16:49 | 2682799 smiler03
smiler03's picture

I visited a random Norwegian Bank Website. In this case DnB NOR Bank, this is very clearly stated when enquiring about opening a personal account:

"According to current Norwegian legislation, all bank customers must have a Norwegian national identification number. We will apply on your behalf if you do not have a Norwegian ID number. Applications are normally processed by the authorities within four to five weeks.

Please note that non-residents of Norway are subject to a minimum deposit requirement. 

This is currently EUR 100,000. This applies to those who do not have a permanent residence in Norway."

So Simon Black, what were you doing at the bank? Getting a credit card cash advance or making a small deposit?

Mon, 08/06/2012 - 13:40 | 2682159 dogbreath
dogbreath's picture

+23  to + 30 in one clic the best yet  hahahahahahaha

Mon, 08/06/2012 - 18:32 | 2683040 TrainWreck1
TrainWreck1's picture

Every SB story should start off with, "Dear Playboy, I never thought this would happen to me, but..."

Mon, 08/06/2012 - 19:42 | 2683172 vato poco
vato poco's picture

Titled, "Lesbians no longer!"

Mon, 08/06/2012 - 13:19 | 2682055 sqz
sqz's picture

While I agree this guy is by far consistently one of the worst Guest Posters, i.e. little to no information value, this does have a ring of truth to it from my own experiences. So, I would hardly label it "science fiction".

Mon, 08/06/2012 - 13:12 | 2682061 boogerbently
boogerbently's picture

It has already started.

The "trading anomolies" and "technology glitches" of JPM, MFGlobal, Knight Capital....

are all the new "business model", for stealing clients money.

Wait until Wells Fargo, or B of A do it.....

OOPS, lost your money, sorry!

Congress will sit on their hands, as usual.

Where is Jon Corzine??? How is that "investigation" going???LOL

Mon, 08/06/2012 - 13:15 | 2682076 MarsInScorpio
MarsInScorpio's picture



It vaporized.


Mon, 08/06/2012 - 13:46 | 2682179 ParkAveFlasher
ParkAveFlasher's picture

I've been thinking about Corzine, and it occurred to me in a fit of optimism that you can not be pardoned by the president if you are not arrested, tried, and convicted in the first place. 

Again, a fit of optimism.

Mon, 08/06/2012 - 14:38 | 2682380 sessinpo
sessinpo's picture

Wow, I always have a different thought. For some reason I wonder if the fish are hungry.

Mon, 08/06/2012 - 16:26 | 2682740 Umh
Umh's picture

Yes you can be. Ford pardoned Nixon for anything he might have done.

Mon, 08/06/2012 - 21:56 | 2683502 andrewp111
andrewp111's picture

False. The Presidential pardon power is absolute, and does not require that you be tried or even charged first. Nixon was pardoned, and the Supreme Court decided the expansive reality of the pardon power.

Mon, 08/06/2012 - 13:16 | 2682079 NotApplicable
NotApplicable's picture

I swear he gets dumber by the day, watching the world fall apart, but staying safe by grabbing another chair before the music stops.

It's like he has no concept of the trap he places himself in, believing instead he is escaping them by playing along.

Honestly, who could take the advice of someone, who despite knowing about the need to protect ones' assets, advocates placing them in a bank?!!!?!?!?

It takes a special kind of stupid to write these articles without connecting the dots.

Simon Says, "Derp."

Mon, 08/06/2012 - 13:21 | 2682100 Nonexistent Uni...
Nonexistent Uninvented God's picture

God I can't believe I wasted two minutes of my life reading this. I owe Simon a fucking punch to the dick so that he might suffer at my hand as I have at his. 

Mon, 08/06/2012 - 13:27 | 2682122 MarsInScorpio
MarsInScorpio's picture

Let me get this straight: It's HIS fault YOU wasted your time.


What a loser. Try reading up on the concept of "personal responsibility."


And by the way, unlike a dickless creep who blames others for his mistakes, at least Simon has a dick to punch . . .


Mon, 08/06/2012 - 13:37 | 2682151 Dr. Engali
Dr. Engali's picture

Simon is that you? You're awfully defensive.

Mon, 08/06/2012 - 13:46 | 2682178 Nonexistent Uni...
Nonexistent Uninvented God's picture

At first it was like "Nah, this guy is only a tool, not a giant one like Simon" then I saw his response to Law below...

Mon, 08/06/2012 - 13:52 | 2682198 Dr. Engali
Dr. Engali's picture

If you check other articles he hasn't posted in hose forums.

Mon, 08/06/2012 - 14:14 | 2682302 MSimon
MSimon's picture

You need a Simon to kick around?


Try this:

Tue, 08/07/2012 - 04:21 | 2683990 merizobeach
merizobeach's picture

Hey, shitlick.  I was reading some of your bigoted drivel in another thread.  How about doing the world a favor and blowing your stupid fucking head off?  And if you have any offspring, kill them first.

Mon, 08/06/2012 - 14:56 | 2682448 TheFourthStooge-ing
TheFourthStooge-ing's picture

NotApplicable said:

I swear he gets dumber by the day, watching the world fall apart, but staying safe by grabbing another chair before the music stops.

I wonder if he goes dancing with Chuck Prince.

Mon, 08/06/2012 - 13:19 | 2682086 WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

I got trolled AGAIN by Simon Black!!!!! Aaaaaarrrrrrrrgggg!!!

Mon, 08/06/2012 - 13:36 | 2682148 pods
pods's picture

Something tells me there is a ZH T-shirt in the future.

"I got trolled by Simon Black, internation man of mystery, and all I got was this lousy T-shirt."


Tue, 08/07/2012 - 04:22 | 2683991 merizobeach
merizobeach's picture

"...and all I got was this lousy T-shirt." ...for 45 Euros.

Mon, 08/06/2012 - 14:17 | 2682308 Azannoth
Azannoth's picture

The only reason (all of)you Love to Hate Simon is because you envy him, no no it's not because he's a 'show off' or 'egomaniac' and even if he was it's only because he achieved somthing in life you could only dream of (personal financial independence), haters gonna hate but at least know what and why you're hating and that is not Simon but your selves for being such under-achievers

Mon, 08/06/2012 - 14:36 | 2682385 nope-1004
nope-1004's picture

All narcissistic sociopaths with ego problems reply with the good old "you criticize me because you must be envious of me" crap when confronted.  That's the only way they avoid accountability and keep their ego afloat.


Mon, 08/06/2012 - 14:56 | 2682450 Azannoth
Azannoth's picture

Believe me I don't need an excuse to keep 'my ego afloat' I would not be an 'narcissistic sociopath with ego problems' if I cared for your opinion, I am just telling you how it is that's all

Mon, 08/06/2012 - 15:38 | 2682574 nope-1004
nope-1004's picture

How it is and your perception of how it is, are two very different things.  Classic ego problem.


Mon, 08/06/2012 - 16:53 | 2682818 smiler03
smiler03's picture

@ azzanoth

When I was 8 years old, my 10 year old sister frequently used to say to me "you're just jealous". What I'm saying is that you're making a ridiculously childish comment.

Mon, 08/06/2012 - 13:04 | 2682036 mrktwtch2
mrktwtch2's picture

is this bullish??

Mon, 08/06/2012 - 13:09 | 2682049 Ivanovich
Ivanovich's picture

Dude, where have you been?  Everything is bullish.

Mon, 08/06/2012 - 13:24 | 2682110 JPM Hater001
JPM Hater001's picture

I lost my right Testical and apparently that was even bullish.

Wife ..incase you were wondering ..

Mon, 08/06/2012 - 14:40 | 2682398 sessinpo
sessinpo's picture

Bullish or bullshit. lol

Mon, 08/06/2012 - 13:07 | 2682043 LawsofPhysics
LawsofPhysics's picture

"if your government is insolvent, your savings are at risk."

No shit sherlock, only about 40 years behind Ron Paul.  Go away already.

Mon, 08/06/2012 - 13:13 | 2682066 MarsInScorpio
MarsInScorpio's picture

Laws of  . . .  being a douche bag:


So what's your problem?


The guy makes a statement, it's non-combatant, and you want him to drop dead.


You're the douche bag - You go away already. . . maybe you can catch some butterflies and pull their wings off to tame your inner infant.


Mon, 08/06/2012 - 13:19 | 2682091 NotApplicable
NotApplicable's picture

Simon makes one incoherent statement after another in an attempt to make his PT prison palatable to others in an effort to earn his keep. If he wasn't so smugly ignorant in his presentation, it might have some value.


Mon, 08/06/2012 - 13:44 | 2682170 LawsofPhysics
LawsofPhysics's picture

In case you missed it asshole, this is a trading site.  It has been a while since Simon presented some information we can trade on.  What useful information is he presenting here?  Avoid greek banks?

Mon, 08/06/2012 - 14:28 | 2682357 Azannoth
Azannoth's picture

And what are you trading on again? Tee leaves or reality?

What Simon presents are very valuable macro-economical and macro-social trends if you can't see the value in his writing than you must be trading either on Cramers 'recommendations' or Chicken guts

Mon, 08/06/2012 - 15:02 | 2682467 NidStyles
NidStyles's picture

You must be new here.

Mon, 08/06/2012 - 16:58 | 2682841 smiler03
smiler03's picture

@ Lawsofphysics,

Are you smoking something today? So this is a traders website? Maybe you should refresh yourself with ZH's "about" page.


Mon, 08/06/2012 - 14:50 | 2682429 viahj
viahj's picture


Zero Hedge is a financial news and information site, not an investment advisor.  Making investment decisions based on information published on Zero Hedge, or any internet site for that matter, is more than unwise, it is folly....

Zero Hedge is not a broker-dealer, legal advisor, tax advisor, investment advisor, accounting advisor or children's party clown....

Contributors' stories are added through their personal blogs. Contributors retain full property rights to their blogs, granting Zero Hedge license to use their additions in perpetuity. Zero Hedge does not review or condone, implicitly or explicity, the material published....

Mon, 08/06/2012 - 16:58 | 2682846 smiler03
smiler03's picture

You said it first, thanks :O)

Mon, 08/06/2012 - 13:08 | 2682044 vegas
vegas's picture

Please, oh please, tell me Mr. Panos is OK. I hate to think he is out of cigs, worry beads, and white socks.

Mon, 08/06/2012 - 13:08 | 2682046 Tsunami Wave
Tsunami Wave's picture

Simon Black clearly overheard this conversation in Swizerland on his way to fly to brazil, after he his took the train back from Estonia.

Mon, 08/06/2012 - 13:13 | 2682064 hidingfromhelis
hidingfromhelis's picture

No kidding, it's like the reincarnation of Mad Hedge Fund Trader without all the name dropping.

Mon, 08/06/2012 - 16:02 | 2682649 John_Coltrane
John_Coltrane's picture

You know I almost forgot about the annoying MadHedgeFund guy.  Wonder how his rare earth stocks are doing?  Actually, I don't need to wonder as I own puts on MCP and they are deep, deep ITM. 

Mon, 08/06/2012 - 13:09 | 2682047 Mercury
Mercury's picture

Bottom line, if your government is insolvent, your savings are at risk.

This is what is known as a white swan people.

Mon, 08/06/2012 - 13:09 | 2682048 BlueCollaredOne
BlueCollaredOne's picture

Simon Black "Uh, no.  I have a US passport, among others..."


God damn this fucker is self important.  Every single post of his is filled with such arrogance.  I understand his target audience is rich people, but have some fucking humility man.

Mon, 08/06/2012 - 13:14 | 2682067 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

I don't know who this Simon Black from Sovereign Man fella is, but let me get this straight, people here hate him because he's rich and he travels?

Mon, 08/06/2012 - 13:20 | 2682092 pods
pods's picture

Simon gets called out because he is full of shit.


Mon, 08/06/2012 - 16:06 | 2682669 John_Coltrane
John_Coltrane's picture

To point out the obvious all mammals are full of shit.  Nothing wrong with that.  Now eating shit is another issue.   Leave that to the dogs.  And how many have wondered about the fact that God is just dog spelled backwards?  Does it follow that God eats shit?

Discuss among yourselves.

Mon, 08/06/2012 - 16:38 | 2682772 JoBob
JoBob's picture

Will we be tested on this?

Mon, 08/06/2012 - 13:21 | 2682102 MarsInScorpio
MarsInScorpio's picture



The people who hate him hate everything. Haven't you noted the pent up anger in the posts? There are days when ZH is just one long hatefest.


These people are serious candidates for psychiatric care. They are what give the Ron Paul followers a bad name as whack jobs.


The day will probably come when I'll read about one of them shooting up a movie theater . . . or see them on YouTube swallowing a cyanide capsule.


Mon, 08/06/2012 - 13:33 | 2682123 akak
akak's picture

And I hate broadbrushing and arrogant assholes like you.


PS: Nice gratuitous dig at Ron Paul and his supporters, by the way --- you managed to fuse a strawman, a red herring and an ad hominem into one single seamless and offensive comment.

Mon, 08/06/2012 - 13:41 | 2682163 francis_sawyer
francis_sawyer's picture

Simon Black studied at the Kelly Le Brock school of self importance...

But something happened along the way...

Mon, 08/06/2012 - 13:49 | 2682188 LFMayor
LFMayor's picture

Weird...  science.

Mon, 08/06/2012 - 13:30 | 2682132 NotApplicable
NotApplicable's picture

Ummmm... the whole world is a hatefest right now, if you look around.

Mon, 08/06/2012 - 14:50 | 2682430 Intoxicologist
Intoxicologist's picture

"There are days when ZH is just one long hatefest."

What's there not to hate?

Mon, 08/06/2012 - 13:26 | 2682118 NotApplicable
NotApplicable's picture

No, people hate him because he's paints his prison as the only path to freedom and survival, while ridiculing those who "fail to act."

For instance, like me, he doesn't like external governments. Unlike me, he seeks to utilize them for their differing levels of service, prostrating himself to each and every one of them. I find this to be a wholly incoherent philosophy, as I do not make deals with the devil.

Instead of utilizing evil means to achieve my goals, I refuse to give support to evil system, but rather find my own way.

His words might find a welcome home at Forbes, for instance, but not here.

Mon, 08/06/2012 - 14:22 | 2682335 Bohm Squad
Bohm Squad's picture


I'm about a month away from quitting my corporate job for the exact same reasons.  Labor Day will have a bit of irony in my household, this year.

My boss decided it was more important to "save face" than do the right thing concerning an employee's he screwed the guy.  Well technically, he told me to deliver the news.  Since I don't have the authority to override the decision, I'm left doing the bidding of evil...there's just not another word for's evil.  [/melodrama]

Like you, I'm done lending my time and energy to such pursuits. 

Mon, 08/06/2012 - 13:30 | 2682127 Dr. Engali
Dr. Engali's picture

People here don't like him because he is self enggrandizing and he is full of shit.I don't care if he is rich or not.more power to him...I just don't believe a word he says. People who have to tell you they are rich usually aren't.

Mon, 08/06/2012 - 13:32 | 2682137 NotApplicable
NotApplicable's picture

Besides, he doesn't sound rich to me, but more like one of those desparate social-climbing wannabes.

Mon, 08/06/2012 - 13:39 | 2682157 pods
pods's picture

Truly wealthy people don't fly around the world to see where best to secure their assets.

They have lawyers to do that for them.



Mon, 08/06/2012 - 13:10 | 2682056 Montgomery Burns
Montgomery Burns's picture

Try to pay closer attention in the future. She was asking you for anal you idiot!

Mon, 08/06/2012 - 13:17 | 2682082 BruntFCA
BruntFCA's picture


Well it was worth reading down this far. As an accountand did she have any good A-Levels I wonder?

Mon, 08/06/2012 - 13:12 | 2682058 No Euros please...
No Euros please we're British's picture

Nah, surely you misheard this young blond lady? She was asking if you'd like a bit of Greek. Common mistake, happens to me all the time. It's a real PITA.

Mon, 08/06/2012 - 13:13 | 2682060 Skateboarder
Skateboarder's picture

"Greeks Need Not Apply."

Mon, 08/06/2012 - 14:25 | 2682345 Bohm Squad
Bohm Squad's picture

..."So I took out my passport and said, 'Imagine that - huh - me, banking with you'." 

Mon, 08/06/2012 - 13:12 | 2682062 ebworthen
ebworthen's picture

Yes, sooner or later U.S. Citizens will have their assets confiscated outright.

You don't pay off $16 Trillion in debt and over $65 Trillion of unfunded obligations with 1% GDP and zombie branches of government led by the vampires on Wall Street.

The only thing they will have left will be theft - via draconian taxation or outright confiscation.

Mon, 08/06/2012 - 14:10 | 2682279 BurningFuld
BurningFuld's picture

Please realize your government is stealing your money right now. At this very moment they are devaluing any and all of the savings denominated in your countries currency by their overspending and money printing. Once again: They are stealing your money right now!  Is that clear?!

Mon, 08/06/2012 - 16:48 | 2682803 HungrySeagull
HungrySeagull's picture

What savings? There is all of 1 dollar in the bank.


Tue, 08/07/2012 - 08:54 | 2684210 merizobeach
merizobeach's picture

You've got a dollar, do ya?  It's going to take a lot of NIRP and biflation for that dollar to completely disappear.  If you would please report for Corzining, the process can be expedited to a nearly immediate resolution.

Mon, 08/06/2012 - 13:19 | 2682077 Dr. Engali
Dr. Engali's picture

Whew that was close...I almost read this post. Then I saw It was Simon and I already knew what he had to say. I wonder where he is at today? His ranch in Chili? The Czech republic? Switzerland? Or his mom's basement?

Mon, 08/06/2012 - 13:20 | 2682093 Skateboarder
Skateboarder's picture

At least he's not Graham Summers.

Mon, 08/06/2012 - 14:11 | 2682294 IrritableBowels
IrritableBowels's picture

Chili, LOL

Mon, 08/06/2012 - 14:26 | 2682350 Cugel
Cugel's picture

"Ranch in Chili" is a new flavor of Doritos

Mon, 08/06/2012 - 14:44 | 2682414 Dr. Engali
Dr. Engali's picture

Might be on to something. We might have to submit the idea to PepsiCo. Maybe they will give us lots of fiat to thanks to a spelling error.

Mon, 08/06/2012 - 13:18 | 2682083 ShorTed
ShorTed's picture

She must've been implying that she thought you'd enjoy bbeing Greeked! 


Where's the trade?

Mon, 08/06/2012 - 13:18 | 2682084 Darth Mul
Darth Mul's picture

Opening a new foreign bank account is like moving to a new chair on the deck of the Titanic - the problem is systemic, and the answer is to have your wealth preserved in items of real value {realty, precious metals, stock in nail salons, apparently...}.

Given the hyperindsolvency of the banking system internationally, to the extent you have $X in currency at all, you're better off keeping it in a hole in your backyard than you are keeping it in the form of a promise-to-pay-$X-on-demand.

Every deck chair, every hyperleveraged bank in the system is going to be under the waves sooner or later.


Why do you think otherwise?


Mon, 08/06/2012 - 13:43 | 2682168 NotApplicable
NotApplicable's picture

Because, like many people, his thoughts are merely beliefs.

Mon, 08/06/2012 - 13:37 | 2682089 LeisureSmith
LeisureSmith's picture

Cronicles of the magnificent migratory man.

PS. The NOK. will do just as badly as the rest and the Norwegian banks loan to deposit ratios looks pretty grim.

Mon, 08/06/2012 - 13:20 | 2682090 Intoxicologist
Intoxicologist's picture

It wasn't a "bit of a smile" you noticed, Simon. 

She was simply farting in your general direction.

Mon, 08/06/2012 - 13:20 | 2682094 hannah
hannah's picture

this is so stupid...the gov doesnt have to 'take' your deposit. obama will just revalue the USD so all the money you are hoarding will be worth half when you take it in to exchange it for the newly printed version. same with gold. try selling gold legally when it is revalued to $32 an ounce.

Mon, 08/06/2012 - 13:44 | 2682171 silverserfer
silverserfer's picture

youve just beed revalued to full retard

Mon, 08/06/2012 - 14:45 | 2682419 hannah
hannah's picture


Under What Circumstances Might a Country Devalue?
When a government devalues its currency, it is often because the interaction of market forces and policy decisions has made the currency's fixed exchange rate untenable. In order to sustain a fixed exchange rate, a country must have sufficient foreign exchange reserves, often dollars, and be willing to spend them, to purchase all offers of its currency at the established exchange rate. When a country is unable or unwilling to do so, then it must devalue its currency to a level that it is able and willing to support with its foreign exchange reserves.

Mon, 08/06/2012 - 13:54 | 2682208 BigJim
BigJim's picture

  try selling gold legally when it is revalued to $32 an ounce.

That is so retarded, on so many levels, it's impossible to know where to start. Well played.

Mon, 08/06/2012 - 14:42 | 2682407 hannah
hannah's picture

On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce. By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve's balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply.










Mon, 08/06/2012 - 15:12 | 2682492 pods
pods's picture

Well, it is BUY gold you bitchez, but I digress.

In order for the government to DEVALUE gold, first it would have to VALUE gold.  

Then it would have to accept these funny FRN pieces of paper (or digital equivalents) FOR the gold it has, to maintain that VALUE that it is going to DEVALUE.

So unless the entire government is as hopelessly dumb as YOU, this will not happen.


Mon, 08/06/2012 - 15:19 | 2682518 hannah
hannah's picture


Mon, 08/06/2012 - 15:37 | 2682570 pods
pods's picture

Hey, your caps lock is sticking I think.

Where did I claim that FDR did not devalue gold? (actually they devalue what is being exchanged, not gold)  

I said that in order for the government to DEVALUE gold it would first have to VALUE gold.

In order to do that, they would have to fix the rate of exchange between FRNs and gold.

Then they would have to change it later when everyone turned in their gold for those FRNs for the scam to work.

If they fixed the rate, they would have to exchange the gold it has with FRNs for it to be valid.

See now it would not happen because everyone has FRNs, not gold.  

Bass ackwards to what FDR did.



Mon, 08/06/2012 - 15:19 | 2682516 TheFourthStooge-ing
TheFourthStooge-ing's picture

Simple Jack hannah said:

On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce.

What's your point? Roosevelt's order was ignored by most holders of physical gold.


Don't forget what mommy told you: wear your bib if you're going to be drooling.

Mon, 08/06/2012 - 15:21 | 2682523 hannah
hannah's picture

so everyone that ignored the order and didnt turn in their gold just went downtown the next week and used gold to buy groceries....?

god goldbugs are just delusional.....

Mon, 08/06/2012 - 16:02 | 2682650 TheFourthStooge-ing
TheFourthStooge-ing's picture

Once upon a time, there was a retard:

so everyone that ignored the order and didnt turn in their gold just went downtown the next week and used gold to buy groceries....?

Why yes!!!1! Yes, of course!1!!! They ALL bought groceries, and shrubberies.

Derpa derp da derpty doodley doo.

First of all, are you in the habit of buying groceries with a $500 or $1000 bill? Why would anyone pay for groceries with a $20 gold double eagle, especially since its value had gone up to $35?

Secondly, why spend good money when you could use two or three dollars in FRNs to buy groceries?

Ghodd, paper paupers sure like to display their "specialness".

Mon, 08/06/2012 - 16:09 | 2682682 hannah
hannah's picture

so if you cant 'spend' your gold at regular old retail stores, how would you use this gold stockpile to live....? i can buy groceries with $500 bills. they are legal tender. can you spend a gold bar at the gas station.

if it is illegal to own would you use it...?barter...? are involved with an illegal activity and i can turn you in ...? bugs are idiots.

Mon, 08/06/2012 - 16:46 | 2682796 pods
pods's picture

I know, when something becomes illegal it just disappears.

Remember when we used to have drugs before they became illegal?


Mon, 08/06/2012 - 16:17 | 2682707 jomama
jomama's picture

just gonna leave this here.

Mon, 08/06/2012 - 17:06 | 2682869 hannah
hannah's picture troll.....warning

Mon, 08/06/2012 - 19:27 | 2683142 TheFourthStooge-ing
TheFourthStooge-ing's picture

. troll.....warning

Simple hint for the simple minded: your troll warning should go on your first post.

Mon, 08/06/2012 - 19:43 | 2683173 hannah
hannah's picture

if gold is such a great deal, why does it take 45 days to get delivery of gold coins ordered. why pay fee after fee after fee then every dealer wants  to buy it back for less than spot. just a scam to fleece people.

Mon, 08/06/2012 - 19:43 | 2683174 hannah
hannah's picture

if gold is such a great deal, why does it take 45 days to get delivery of gold coins ordered. why pay fee after fee after fee then every dealer wants  to buy it back for less than spot. just a scam to fleece people.

Mon, 08/06/2012 - 21:13 | 2683377 TheFourthStooge-ing
TheFourthStooge-ing's picture

You don't have to post it twice, squeaky sock puppet.

if gold is such a great deal, why does it take 45 days to get delivery of gold coins ordered.

So then go to the coin store, squeakster. Cripes. Take delivery within 30 minutes.

why pay fee after fee after fee then every dealer wants  to buy it back for less than spot. just a scam to fleece people.

Watching television is a more productive use of your time. I urge you to watch as much as you can.

Mon, 08/06/2012 - 15:22 | 2682527 TheFourthStooge-ing
TheFourthStooge-ing's picture

Simple Jack hannah said:

Da Derp de Derpy Doo.

obama will just revalue the USD so all the money you are hoarding will be worth half

Again? Damn, he's ambitious. I think it took Chimpy Bush two whole terms to do that.

Mon, 08/06/2012 - 19:38 | 2682566 fuu
fuu's picture

I believe "Chimpy McFlightsuit" was the proper term.

Mon, 08/06/2012 - 13:20 | 2682095 reddog
reddog's picture

During the build up to the U. S. attack on iraq, I tried to open a brokerage account in Vancouver, B.C. with T.D.

The lady working for T.D. asked if I were a U.S. citizen; when I said yes, she said that the U.S. government would not aloow T.D. to open an account for me.  She said if I were a citizen of another country there would be no problem.

Mon, 08/06/2012 - 13:21 | 2682097 q99x2
q99x2's picture

Get the money out of all the big banks because they are insolvent. Nothing is there except your money. Buy ingots of silver and gold and chill out for a while.

Mon, 08/06/2012 - 13:21 | 2682098 Atlantis Consigliore
Atlantis Consigliore's picture

Airline tickets for stocks swaps;  wonderful   keep printing Southwest Airlines promo glitch charges customers for flights aplenty #cnn via @CNN

Mon, 08/06/2012 - 13:21 | 2682099 pods
pods's picture

I was excited when I saw the title, thought this was going to be a guest post from everyone's favorite US citizen agitator.


Mon, 08/06/2012 - 13:21 | 2682101 Robot Traders Mom
Robot Traders Mom's picture

It is clear: Nobody is as divisive on ZH as Simon Black.


Mon, 08/06/2012 - 13:37 | 2682150 akak
akak's picture

Well, there is RobotTrader.


Oh, wait, my mistake --- EVERYONE hates that asshole.

Mon, 08/06/2012 - 13:23 | 2682106 TraderTimm
TraderTimm's picture

If only there was a cryptographically secure, peer-to-peer distributed system to store wealth and transfer amounts around the world in an hour with near-zero transaction fees, while being free of idiot monetary policy makers and banking goons...


Mon, 08/06/2012 - 13:34 | 2682142 Robot Traders Mom
Robot Traders Mom's picture

Whatever happened to bitcoin?

Mon, 08/06/2012 - 13:38 | 2682153 akak
akak's picture

Not enough people bit.

Mon, 08/06/2012 - 16:11 | 2682691 TheFourthStooge-ing
TheFourthStooge-ing's picture


Not enough people bit.

They weren't trolling hard enough.

Mon, 08/06/2012 - 16:44 | 2682791 TraderTimm
TraderTimm's picture

"Whatever happened to bitcoin" and "Not enough people bit", eh? Oh my. Here, let me help you out - since looking up statistics seems to be out of your reach.

Bitcoin has a daily transaction volume of $2,328,058 USD

Market Capitalization of $104.70 Million


The current network has 13.6 Tera-Hashes of collective computing power, which incidentally is beyond most supercomputer efforts.

The network has over 1,154,257 unique nodes and grows steadily.

It is the one thing that has come along that can make a difference, and you don't even have to make a protest sign. It boggles my mind that given an open source alternative to being 'captured' in a sovereign currency system, people would rather dig in their heels than embrace a REAL force for change.

I'd be willing to take a bet, but you'd have to settle with me in bitcoin - I don't accept Bernanke Ctrl-P Bucks...

Mon, 08/06/2012 - 16:52 | 2682823 HungrySeagull
HungrySeagull's picture

Chew on that for a while...

Mon, 08/06/2012 - 13:46 | 2682175 silverserfer
silverserfer's picture

i think you can only buy pokemon cards with them now

Mon, 08/06/2012 - 13:57 | 2682225 toady
toady's picture

Survivalblog had a bitcoin generating page that I left on for months at a time. I did my weekly check that the page was still running and it was page not found. Hasn't worked since... Haven't checked it in a while...

Mon, 08/06/2012 - 16:54 | 2682827 HungrySeagull
HungrySeagull's picture

Likely because the owner of the site discovered bandwidth costs.

Mon, 08/06/2012 - 13:38 | 2682152 Skateboarder
Skateboarder's picture

What is digital monopoly money?

Mon, 08/06/2012 - 13:25 | 2682115 Payable on Death
Payable on Death's picture

What happens when you rent a safety deposit box in Canada (w/o an acct.)?

Mon, 08/06/2012 - 13:50 | 2682162 akak
akak's picture

Well, nothing happens, as there is no such thing as a box into which one can deposit safety.

Really, for the last time people, it is a "safe deposit box" --- you know, a box for safe deposits.   Unless somebody out there has figured out a way to physically store safety in a 3" X 5" X 22" box.


I bet you also talk about "PIN numbers" and "ATM machines", too.

Do NOT follow this link or you will be banned from the site!