Thanks to Canada and the Jones Act, it now appears almost certain that Alaska’s cruise season will be canceled for a second straight summer. On Thursday, Feb. 4, Canada announced a continuation of prohibitions on cruise vessels operating in Canadian waters until February 2022. Under America’s Jones Act, (Merchant Marine Act of 1920) foreign-flagged ships […]
Read MoreOn Feb 16, 2018 and Jul 12, 2019 we posted blogs titled “Coin of the Realm” and “Coin of the Realm – Update” in which we suggested that legal tender is what the government says it is and governments don’t like competition. Government action has always been a risk factor for investors in cryptocurrency. Recent […]
Read MoreEuropean governments, that already have some of the world’s highest tax rates, are under increasing pressure to raise additional revenues, and believe that American tech giants represent a potential “gold mine.” The route to increased revenues seems to be following several paths, including, new taxes designed to increase the EU’s share of U.S. tech company […]
Read MoreOver the last several years we have posted a number of blogs relating to the importance of the “freedom of the seas”, most recently on (17May16) and (25Jan17). Despite the fact that approximately 80% of the world’s trade volume travels by sea, the international community has largely ignored China’s efforts to exert military control over […]
Read MoreThis is a line spoken by Puck in Shakespeare’s play, “A Midsummer Night’s Dream.” Argentina recently announced its ninth sovereign debt default. That Argentina defaulted should not have been a surprise, but that the country had an opportunity to default a ninth time makes one wonder just who lends money to a serial defaulter after […]
Read MoreChina has lent billions to poor countries, and now they can’t pay it back. Perhaps China should have heeded J. Paul Getty’s observation, “If you owe the bank $100 that’s your problem, if you owe the bank $100 million, that’s the bank’s problem.” China’s global lending spree, which, over the last two decades, showered less […]
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