Gyroscopic Investing

I thought everyone would find this interesting or informative.  It is a product guide, along with the fees and expenses, of Schiff's offshore bank.  This is in no way a recommendation, plus accounts are not available to U.S. citizens, members of East Caribbean countries or the U.S. Treasury's prohibited country list.  It looks pretty much like a run of the mill offshore banking operation, but it has some services that are rather unsual (like a gold-backed debit card) in the West (much more common in Asia).

My long observation informs that those that setup rinky dink offshore banks have big egos, are scammers, are incompetent or any combination of the above.  Schiff being a U.S. citizen puts the entire operation at legal risk to U.S. government confiscation and interference.  I have yet to see any rinky dink offshore bank survive more than a few years, or a decade at most.  The sole attraction is simply tax evasion or money laundering.

http://www.filedropper.com/epb-product-guide

Let's remember that Schiff's dad served time in jail for aspousing views and acting on them, I believe, stating that the IRS is illegal and nobody is obligated to pay or file federal income taxes. The IRS disagreed.

Reub wrote: Let's remember that Schiff's dad served time in jail for aspousing views and acting on them, I believe, stating that the IRS is illegal and nobody is obligated to pay or file federal income taxes. The IRS disagreed.

Holy shit, that's Irwin Schiff's son?  He popularized the $0 income tax return filing strategy.

MachineGhost wrote:

Reub wrote: Let's remember that Schiff's dad served time in jail for aspousing views and acting on them, I believe, stating that the IRS is illegal and nobody is obligated to pay or file federal income taxes. The IRS disagreed.

Holy shit, that's Irwin Schiff's son?  He popularized the $0 income tax return filing strategy.

Does that provide a better sense of where Schiff is coming from with his views?

Schiff has made some good calls here and there and I used to find him mildly entertaining.  Now he is just annoying to me because his act is so transparently self-serving, his market narratives so shallow and his presentation so obnoxious.

MachineGhost wrote:

Reub wrote: Let's remember that Schiff's dad served time in jail for aspousing views and acting on them, I believe, stating that the IRS is illegal and nobody is obligated to pay or file federal income taxes. The IRS disagreed.

Holy shit, that's Irwin Schiff's son?  He popularized the $0 income tax return filing strategy.

He also ran for president on the libertarian ticket in 1980 (I think that was the year) against Harry Browne.

I doubt Peter Schiff is doing anything illegal, but if the US government started to target these offshore financial services, a guy as vocal and as well known as Schiff might be seen as a good person to "make an example" of. 

I notice that his firm, Europac, is on the preferred brokers list at the Perth Mint.

MediumTex wrote:

MachineGhost wrote:

Reub wrote: Let's remember that Schiff's dad served time in jail for aspousing views and acting on them, I believe, stating that the IRS is illegal and nobody is obligated to pay or file federal income taxes. The IRS disagreed.

Holy shit, that's Irwin Schiff's son?  He popularized the $0 income tax return filing strategy.

Does that provide a better sense of where Schiff is coming from with his views?

Schiff has made some good calls here and there and I used to find him mildly entertaining.  Now he is just annoying to me because his act is so transparently self-serving, his market narratives so shallow and his presentation so obnoxious.

I just threw it out there as a point of interest. I remember seeing Irwin on the Morton Downey Jr. show and he seemed to be making a lot of sense. Here is a link to how the IRS is taking his commissary money in prison from him.

http://irwinschiff.blogspot.com/

Evidently the judge in his tax evasion case told the jurors that they could convict him even if they found that they couldn't prove he had evaded taxes.

http://www.zoklet.net/totse/en/ego/lite ... chiff.html

This is his website with his more recent dealings where he states:

"On October 14, 2008, Las Vegas Federal Judge, Lloyd D. George pursuant to to a summary judgment (i.e. no hearing) gave the United States a permanent injunction, barring Cindy and myself from doing things we don't do anyway and asking me to remove from my website material that is also not there.  (No I'm not kidding).

http://www.paynoincometax.com/

I haven't thought about Morton Downey, Jr. in quite a while.

What a crazy show that was.

Very entertaining. I believe it was on Saturday nights?

Reub wrote: Very entertaining. I believe it was on Saturday nights?

I thought it came on nightly, but it may have been weekly.

I can't remember but Downey was sure a curmudgeon.

Reub wrote: I can't remember but Downey was sure a curmudgeon.

I just remember him smoking through the whole show and wearing a pinky ring.