Blog Archives

US firms hiding $1,400,000,000,000 in offshore tax haven

US corporate giants, such as Apple, General Electric, and Microsoft are hidden nearly $1.4 trillion in dozens of offshore tax havens. That is $1,400,000,000,000.

The companies also used more than 1,600 subsidiaries in tax havens to hoard and move money around outside the reach of fiscal authorities. At the same time, the corporations keep on taking benefits from government support in their home countries paid by taxpayers.

The huge profits that major corporations have reported they are holding offshore, partly because of the high taxes they say they would have to pay for shifting the profits back to the US.

Read more: US firms hiding $1,400,000,000,000 in offshore tax haven

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Are Tech Giants’ New Buildings Signs of the Top?

When banks build new gleaming headquarters, that generally marks the top of the bank’s fortunes. There appears to be some sort of hubris in constructing a monumental new headquarters that shouts “we’re rich beyond all conception” that angers the stock market gods.

For this reason, we should ponder the glamorous new headquarters Facebook just completed and Apple’s “spaceship” campus that is under construction.Google’s plans for an ultra-modernist headquarters were recently tabled by the city of Mountain View, but the grandiose plans themselves may count as hubris to the stock market gods.


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Apple Gold Demand – Bloomberg View Misrepresents GoldCore

Apple Gold Demand – Bloomberg View Misrepresents GoldCore 

Bloomberg View’s Mark Gilbert misrepresents our widely read Apple gold demand
– CNBC quoted extensively and favourably from our market update
– Gilbert quoted selectively from our piece to misrepresent “gold bugs”
– Silly gold ‘bug’ name calling shows bias against gold and towards stocks
– “Gold bugs” and “stock roaches” can peacefully coexist
– In these uncertain times diversification is what remains vitally important

In his column on Monday, Bloomberg columnist Mark Gilbert made reference to our Market Update released last Friday – Apple Major New Gold Buyer – Propel Gold Higher?. Our piece was very widely read – Apple being the sexy tech and investment story of today. It was picked up very widely including being quoted from favorably and extensively by CNBC.


Gilberts article, Apple Watch Won’t Rescue Gold Bugs’, describes our analysis as “breathless”. It suggests to us that he may have not read our entire piece and the many qualifications and caveats in the piece. If he had read the entire piece and the important context and substantive points made, it is unlikely that he would have described it with such negative bias. (more…)

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The Payments Problem Apple Pay Doesn’t Solve

[The Following Post By Bitcoinomics Chief Editor, Justin O’Connell]

Originally appeared at Bitcoinomics

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Apple announced its payment product, Apple Pay, this week, and it was immediately touted by JP Morgan Chase’s Chief Financial Officer Marianne Lake as the future of payments. But is it all its made out to be by Apple executives and their partners on the project? Lots of questions remain, such as the fact Apple Pay will only be available in the United States at first. Once it is made available beyond US borders, the question remains – will it be adopted as a payment method in places where Apple penetration is lackluster? (more…)

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Clearing Billions in Profit Is About to Get Much Harder

The math of netting $1 billion is daunting.

The mainstream financial media nearly wet its collective pants with excitement in reporting that the planet’s corporations paid $1 trillion in dividends in 2013. What they didn’t report is that clearing billions in profit is about to get much harder.

As a refresher, let’s look at what it takes to net $1 billion in net profit.


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