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Author Topic: Economic Totalitarianism  (Read 345641 times)
Yakamoto
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August 03, 2016, 04:08:50 AM
 #2321

If you are from the USA, Switzerland, Liechtenstein, Norway, or Iceland one interesting option is parking money in Singapore real estate. Singapore has taken great pains to keep foreigners out of its property market. They have been trying to keep speculators from driving up the costs of property.

To cool investment Singapore has imposed a flat 15% tax on all foreigners who buy property in Singapore. Individuals not native to Singapore essentially have to pay an extra 15% to buy property. However, if you are from USA, Switzerland, Liechtenstein, Norway, or Iceland you are immune to this 15% tax due to old free trade agreements that these countries signed with Singapore.

Essentially individuals from those countries can buy for the same price as a native. My understanding is that the banks in Singapore will let you take out a mortgage in US dollars if you earn income in USD but you have to have 30% down. Note that I have not actually done this so I can not guarantee this last point.

Advantages of Singapore Property:
1) Singapore has no capital gains tax
2) Singapore has low property taxes (home unlikely to become giant leaching device)
3) Singapore tax on rental income is only 20%
4) A mortgage in dollars on a home in Singapore is a nice hedge against dollar decline
5) Its one of the most desirable areas to own property in the world and likely to become more so in the future
6) Plan B property if that becomes needed

Disadvantages of Singapore Properly:
1) US dollar is currently on a short term upward trajectory (so now might be early)
2) Singapore property is in an artificial downward trajectory triggered by the 15% tax (so now might be early)
3) Singapore has subsidized public housing for natives which will suppress rental income


I always believe that Singapore is a worthwhile place to invest
Singapore is actually a pretty cool place to be honest, they have a lot of stuff and they're pretty advanced relative to a lot of the other countries in the general area, and they have a good economy last I heard of. I agree with all of your points about the property in Singapore though, especially looking at some of the negatives. The 15% tax won't be harsh on the market in a year or two though, and there should be less downward movement with the value of the property soon.

There should be some cool things that'll happen with the Singapore economy soon, and I'll be looking at it more over the next few months.
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August 03, 2016, 06:43:57 AM
Last edit: August 03, 2016, 07:07:42 AM by trollercoaster
 #2322

Hellary accidentally tells the truth while the lumpenproletariat cheer enthusiastically : https://twitter.com/SeanKD/status/760605882065485824
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August 04, 2016, 07:47:10 PM
 #2323

"Is the EU Building a Database of Digital Currency Users?"

http://www.coindesk.com/europe-build-database-digital-currency-users/
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August 04, 2016, 09:22:43 PM
 #2324

Singapore is actually a pretty cool place to be honest, they have a lot of stuff and they're pretty advanced relative to a lot of the other countries in the general area, and they have a good economy last I heard of. I agree with all of your points about the property in Singapore though, especially looking at some of the negatives. The 15% tax won't be harsh on the market in a year or two though, and there should be less downward movement with the value of the property soon.

There should be some cool things that'll happen with the Singapore economy soon, and I'll be looking at it more over the next few months.
Singapore is a richer nation then the United Kingdom apparently which I dont think any other former colony has managed to do.    Problem is its too small, just a city state so not likely to take over a grand influence on world trade from the west.  If its just participating and profiting not governing then its still following the UK and USA  despite being more successful.   UK cut its rates further today after leaving them already near zero for 7 years and will increase its QE program, neither move is a sign of success.   Its unfortunate the world economy is still caught focusing on failed measures then whatever has worked for Singapore or similar growing countries

https://en.wikipedia.org/wiki/Four_Asian_Tigers
https://www.quora.com/Why-do-the-former-colonies-of-Britain-tend-to-be-wealthier-overall-than-the-former-colonies-of-France-the-Netherlands-Spain-or-Portugal


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CoinCube
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August 06, 2016, 12:09:29 AM
 #2325


Singapore is actually a pretty cool place to be honest, they have a lot of stuff and they're pretty advanced relative to a lot of the other countries in the general area, and they have a good economy last I heard of. I agree with all of your points about the property in Singapore though, especially looking at some of the negatives. The 15% tax won't be harsh on the market in a year or two though, and there should be less downward movement with the value of the property soon.

There should be some cool things that'll happen with the Singapore economy soon, and I'll be looking at it more over the next few months.

Interesting article on coindesk today talking about how Singapore is setting itself up to be at the forefront of blockchain developments.

http://www.coindesk.com/singapore-central-bank-blockchain-ceos/


trollercoaster
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August 08, 2016, 04:36:57 AM
 #2326

http://www.breitbart.com/california/2016/08/06/9000-companies-left-california-since-2008/

9000 companies have fled commiefornia since 2008
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August 08, 2016, 04:53:37 AM
 #2327


Singapore is actually a pretty cool place to be honest, they have a lot of stuff and they're pretty advanced relative to a lot of the other countries in the general area, and they have a good economy last I heard of. I agree with all of your points about the property in Singapore though, especially looking at some of the negatives. The 15% tax won't be harsh on the market in a year or two though, and there should be less downward movement with the value of the property soon.

There should be some cool things that'll happen with the Singapore economy soon, and I'll be looking at it more over the next few months.

Interesting article on coindesk today talking about how Singapore is setting itself up to be at the forefront of blockchain developments.

http://www.coindesk.com/singapore-central-bank-blockchain-ceos/


If you take into account the current trends of the financial world, you certainly need to focus on what the market needs or which medium is more popular. Now the blockchain is gaining momentum and many public and not only private organizations are adopting blockchain in their structure. In the case of Singapore is not surprising, because their system of Finance is in step with the times for a long time.
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August 08, 2016, 11:51:30 PM
 #2328

Check out his reply to me in the comments! 82 year old man:

https://steemit.com/irs/@ericwhoru/how-to-beat-the-irs

Hope to meet this man someday.

commiefornia

Lol. You do a lot with the minimum verbiage.

while the lumpenproletariat cheer

commiesincollectivedragwetrust
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August 11, 2016, 11:37:40 PM
 #2329

Haha I'm a man of few words  Cheesy

http://www.bloomberg.com/news/articles/2016-08-02/the-humbling-of-american-tech-giants-in-china
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August 12, 2016, 03:43:29 PM
 #2330

Singapore is actually a pretty cool place to be honest, they have a lot of stuff and they're pretty advanced relative to a lot of the other countries in the general area, and they have a good economy last I heard of. I agree with all of your points about the property in Singapore though, especially looking at some of the negatives. The 15% tax won't be harsh on the market in a year or two though, and there should be less downward movement with the value of the property soon.

There should be some cool things that'll happen with the Singapore economy soon, and I'll be looking at it more over the next few months.
Singapore is a richer nation then the United Kingdom apparently which I dont think any other former colony has managed to do.    Problem is its too small, just a city state so not likely to take over a grand influence on world trade from the west.  If its just participating and profiting not governing then its still following the UK and USA  despite being more successful.   UK cut its rates further today after leaving them already near zero for 7 years and will increase its QE program, neither move is a sign of success.   Its unfortunate the world economy is still caught focusing on failed measures then whatever has worked for Singapore or similar growing countries

https://en.wikipedia.org/wiki/Four_Asian_Tigers
https://www.quora.com/Why-do-the-former-colonies-of-Britain-tend-to-be-wealthier-overall-than-the-former-colonies-of-France-the-Netherlands-Spain-or-Portugal


Seven years is generally a very large strings, and if changes take place within this time, then there is nothing wrong here. True if England have already gone into free-swimming from the European Union, it is the application that must be taken into account.
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August 12, 2016, 03:50:57 PM
 #2331

Personally I'm not surprised about this at all, countries want to know everything that their people are doing and they want to have as much information as possible, even though it is not really worth it and the information is useless for a majority of countries.

They always want to know where your money has gone and to who and where everything moves, and this means that they can stop or go after anyone that doesn't fit their worldview or what they want you to do. It really is economic totalitarianism.
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August 12, 2016, 04:04:01 PM
 #2332

<snip>
Singapore is a richer nation then the United Kingdom apparently which I dont think any other former colony has managed to do.    Problem is its too small, just a city state so not likely to take over a grand influence on world trade from the west.  If its just participating and profiting not governing then its still following the UK and USA  despite being more successful.   UK cut its rates further today after leaving them already near zero for 7 years and will increase its QE program, neither move is a sign of success.   Its unfortunate the world economy is still caught focusing on failed measures then whatever has worked for Singapore or similar growing countries

https://en.wikipedia.org/wiki/Four_Asian_Tigers
https://www.quora.com/Why-do-the-former-colonies-of-Britain-tend-to-be-wealthier-overall-than-the-former-colonies-of-France-the-Netherlands-Spain-or-Portugal
It might be a city-state but I believe that Singapore is more interested in the ability to do a lot of white-collar work and things that aren't based around trade and so, and more technology and knowledge. I have to say though the rest of your points are excellent, and I like the article you posted. I'll probably be sharing that with some people I know who like finance and so, especially with foreign finance people I know.

<snip>

Interesting article on coindesk today talking about how Singapore is setting itself up to be at the forefront of blockchain developments.

http://www.coindesk.com/singapore-central-bank-blockchain-ceos/
This doesn't surprise me because Singapore has always been quite technologically advanced and they seem to want to be on the forefront of a lot of technological development. if Singapore can start getting involved with the blockchain and doing more stuff related to it, there are most likely going to be a few advancements made related to blockchain technology.
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August 12, 2016, 08:53:11 PM
 #2333

https://www.armstrongeconomics.com/world-news/taxes/tracking-everyone-hunting-for-money-on-trains-or-in-the-air/
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August 13, 2016, 07:37:19 AM
 #2334


The Chinese curse may you live in interesting times.

Appears we will have mini ice age from 2020 - 2055 and global religious war from 2036 forward.

My golden years may not be so golden.
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August 14, 2016, 03:08:09 AM
 #2335

...

iamnotback & others interested in Pacific Islands

Hmm, looks like Pitcairn Island may not be such a great place after all, despite there only being only 40-something there:

http://www.ancient-origins.net/history/real-life-lord-flies-strange-and-violent-history-pitcairn-island-003557

Bad ju-ju there...
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August 15, 2016, 01:14:41 PM
 #2336

The wealth confiscation is coming.

http://www.zerohedge.com/news/2016-08-15/wealth-tax-looms-greeks-forced-declare-all-assets-tax-authority

Quote
The Greek finance ministry confirmed some more details of the long-planned registration of all kinds of private wealth that will go into effect in February 2017. As KeepTalkingGreece reports, more than 8,500,000 tax payers registered in Greece will be called to declare all moveable and immovable assets, their total “wealth”, and even cash they possess even if it is below 100 euro. Furthermore, the taxpayers will have to register changes in their assets when they occur and not annually.

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August 15, 2016, 03:56:47 PM
 #2337

The wealth confiscation is coming.

http://www.zerohedge.com/news/2016-08-15/wealth-tax-looms-greeks-forced-declare-all-assets-tax-authority

Quote
The Greek finance ministry confirmed some more details of the long-planned registration of all kinds of private wealth that will go into effect in February 2017. As KeepTalkingGreece reports, more than 8,500,000 tax payers registered in Greece will be called to declare all moveable and immovable assets, their total “wealth”, and even cash they possess even if it is below 100 euro. Furthermore, the taxpayers will have to register changes in their assets when they occur and not annually.



Hmm, imagine all the paperwork involved in declaring changes of assets.......

Quietly bought and properly mixed Bitcoin will help keep wealth unknown to predatory governments.  That would help a little.

The Ionian Sea west of Greece is famous for shipping and boating accidents (probably with lots of wealth lost), it must be dangerous there.

These confiscatory governments do not seem to be interested in letting their countries recover, they just want to loot while they still can.  Typical Marxists.
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August 15, 2016, 06:46:08 PM
 #2338

The wealth confiscation is coming.

http://www.zerohedge.com/news/2016-08-15/wealth-tax-looms-greeks-forced-declare-all-assets-tax-authority

Quote
The Greek finance ministry confirmed some more details of the long-planned registration of all kinds of private wealth that will go into effect in February 2017. As KeepTalkingGreece reports, more than 8,500,000 tax payers registered in Greece will be called to declare all moveable and immovable assets, their total “wealth”, and even cash they possess even if it is below 100 euro. Furthermore, the taxpayers will have to register changes in their assets when they occur and not annually.


Time to devalue those assets before the greasy bastards get their hands on them.I can see a lot of lear jets and triple hulled yachts getting declared as scrap value very soon in greece.
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August 15, 2016, 11:29:57 PM
 #2339

The wealth confiscation is coming.

http://www.zerohedge.com/news/2016-08-15/wealth-tax-looms-greeks-forced-declare-all-assets-tax-authority

Quote
The Greek finance ministry confirmed some more details of the long-planned registration of all kinds of private wealth that will go into effect in February 2017. As KeepTalkingGreece reports, more than 8,500,000 tax payers registered in Greece will be called to declare all moveable and immovable assets, their total “wealth”, and even cash they possess even if it is below 100 euro. Furthermore, the taxpayers will have to register changes in their assets when they occur and not annually.


Wow that is fucked up, I can see many Greeks giving this the middle finger salute though.
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August 16, 2016, 03:04:41 AM
Last edit: August 17, 2016, 09:17:35 PM by trollercoaster
 #2340

http://www.cnbc.com/2016/08/15/uncle-sam-goes-for-gold-too-up-to-9900-per-olympic-gold-meda.html
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