Wealth

“655 people have $4 trillion in wealth. 200 million can’t cover a $1000 expense.”

By Michael Snyder The COVID pandemic has caused the gap between the ultra-wealthy and the rest of us to grow larger than it ever has been before.  Thanks to the hyperinflationary policies of the Federal Reserve and our politicians in Washington, stock prices have soared to unprecedented heights in recent months.  This pushed the wealth…

Collectible Weapons: How to Protect Your Wealth – And Your Family – With Valuable Guns

By Sam Jacobs It’s an unusual means of investment, but one that we think will appeal to our readers on a deep level: collectible weapons. There are a number of advantages to investing in collectible weapons that will appeal both to those who love weapons and those who keep an eye on their money. Indeed,…

The ‘Hannibal Trap’ Will Crush Global Wealth

Authored by Egon von Greyerz via GoldSwitzerland.com, Is the global investment world about to be caught in the Hannibal trap? Hannibal was considered as one of the greatest military tacticians and generals in history. He was a master of strategy and regularly led his enemies into excruciating defeats. The trap that investors are now being…

Wealth Taxes, Mask Nazis, And COVID Crackdowns… Oh My!

Authored by Simon Black via SovereignMan.com, Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice. Argentina Passes Wealth Tax in the Name of COVID Recovery In response to…

Charting The Growing Generational Wealth Gap

By Tyler Durden As young generations usher into adulthood, they inevitably begin to accumulate and inherit wealth, a trend that has broadly remained consistent. But, as Visual Capitalist’s Omri Wallach explains below, what has changed recently is the rate of accumulation. In the U.S., household wealth has traditionally seen a relatively even distribution across different age groups. However, over…

US Household Wealth Hits All-Time High As “Top 1%” Have Never Been Richer While Poor Drown In Debt

The Fed’s latest Flow of Funds report released at noon today showed the latest snapshot of the US “household” sector as of Sept 30 2020. What it showed is that one quarter after the biggest surge in household net worth on record when US household net worth jumped by $7.6 trillion to $119.0 trillion (which…

Head Of World’s Largest Sovereign Wealth Fund Forced Out Because His Wife Is Chinese

The deputy governor of the Norwegian central bank, Jon Nicolaisen, announced on Friday he was resigning because his application for renewed security clearance had been rejected because he has a Chinese wife. “The Norwegian Civil Security Clearance Authority informs me that the reason that I will not receive a renewed security clearance is that my…

Elizabeth Holmes Argues Her Wealth Had Nothing To Do Why She Committed Fraud

Perhaps in doing her best to change her legal defense into some sort of comedy act, “America’s sweetheart” Elizabeth Holmes argued in court this week that she didn’t want U.S. prosecutors to vilify her “luxuriously lifestyle” during her fraud trial. The request is ironic, as Holmes became a “self-made billionaire” through the fraud she was…

Argentina Approves “Confiscatory” Wealth Tax On Millionaires

By Tyler Durden In an early glimpse of what wealth redistribution will look among developed nations in coming years, on Wednesday the lower house of Argentina’s Congress approved a bill seeking to raise 300 billion pesos ($3.75 billion) through a tax on the ultra rich to finance programs aimed at helping families hit by the…

Argentina Approves “Confiscatory” Wealth Tax On Millionaires

In an early glimpse of what wealth redistribution will look among developed nations in coming years, on Wednesday the lower house of Argentina’s Congress approved a bill seeking to raise 300 billion pesos ($3.75 billion) through a tax on the ultra rich to finance programs aimed at helping families hit by the COVID-19 pandemic. In…