Using Veritas to Construct the "Per…

29-04-2017 Hits:84626 BoomBustBlog Reggie Middleton

Using Veritas to Construct the "Perfect" Digital Investment Portfolio" & How to Value "Hard to Value" tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many...

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The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:79093 BoomBustBlog Reggie Middleton

The Veritas 2017 Token Offering Summary Available For Download and Sharing

The Veritas Offering Summary is now available for download, which packs all the information about Veritas in a single page. A step by step guide to purchasing Veritas can be downloaded here.

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What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:78938 BoomBustBlog Reggie Middleton

What Happens When the Fund Fee Fight Hits the Blockchain

A hedge fund recently made news by securitizing its LP units as Ethereum-based tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that...

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Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:83426 BoomBustBlog Reggie Middleton

Veritaseum: The ICO That's Ushering in the Era of P2P Capital Markets

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu...

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This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:79991 BoomBustBlog Reggie Middleton

This Is Ground Zero for the 2017 Veritas Offering. Are You Ready to Get Your Key to the P2P Capital Markets?

This is the link to the Veritas Crowdsale landing page. Here is where you will be able to buy the Veritas ICO when it is launched in mid-April. Below, please...

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What is the Value Proposition For Verita…

01-04-2017 Hits:82298 BoomBustBlog Reggie Middleton

What is the Value Proposition For Veritas, Veritaseum's Software Token?

 A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim: I've watched your video and gone through the slides. The exchange...

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This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:53272 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:81302 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:81303 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:81110 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:86965 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:84982 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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From the NY Times...

When the Swiss bank UBS and federal prosecutors face off in a Florida courtroom on Monday, the focus will be whether UBS must disclose the identities of thousands of its American clients, but much more could be at stake as well.

The dispute, in which the Internal Revenue Service, backed by the Justice Department, is trying to force UBS to hand over the names of 52,000 wealthy American clients suspected of tax evasion, has escalated into a showdown that has frayed relations between Switzerland and the United States, peeled back layers of Swiss banking secrecy and rattled the world’s private banking industry. UBS and the Swiss have intensified their opposition this week, threatening to send more ripples through the global banking system.

Oswald J. Grübel, the chief executive of UBS, sent a memorandum to the bank’s top executives on Thursday saying that turning over the names “would require UBS to violate Swiss criminal law, and we simply cannot comply,” according to a copy of the document.

On Wednesday, the Swiss government said that it would block any move by UBS, Switzerland’s largest bank and a bulwark of the country’s economy, to turn over the names should it be ordered to do so. Such a decision could come as early as Monday by the judge overseeing the case. The country contends that complying with such an order would violate Swiss law.

“If necessary, the blocking order is ready,” Urs Ziswiler, the Swiss ambassador to the United States, said in an interview in New York on Wednesday.

Any such order could imperil the ability of UBS, the world’s largest private bank and a big player in the global credit markets, to operate, as well as potentially subject executives to criminal prosecution, and the bank to sanctions, in Switzerland.

“The I.R.S. summons puts UBS in an untenable position, caught between the laws of two sovereign nations,” UBS said in a statement on Thursday. “Honoring the I.R.S. summons would require UBS to violate Swiss criminal law.”

Further heightening the tension, the judge overseeing the case, Alan S. Gold of Federal District Court in Miami, has ordered prosecutors and the I.R.S. to consult the Obama administration and the State Department and to explain by Sunday how far the government is willing to go if UBS refuses to disclose the names. The judge wants to know whether it would consider seizing assets of UBS in the United States or force it into receivership, a form of bankruptcy with a court-appointed trustee.

Charles Miller, a Justice Department spokesman, declined to comment on Thursday. In February, the I.R.S. sued UBS to compel it to turn over the names, just a day after UBS agreed to pay $780 million to settle criminal accusations that it had defrauded the I.R.S. by allowing wealthy Americans to hide billions of dollars in taxes in secret offshore bank accounts. The bank admitted to wrongdoing.

Since then, the controversy has threatened to lift the veil of Swiss banking secrecy, which has driven a vast wealth-preservation industry that over decades has made Switzerland the world’s largest repository of hidden wealth. If Switzerland caves in on this, it will destroy the Swiss banking business. They are not that competitive in other fields. If the Swiss banking business falters, it puts Switzerland itself in jeopardy since the assets of and liabilities of the industry outstrip the GDP of the actual country. If the US caves, they will be challeneged in other areas as well. Very interesting...

UBS turned over about 250 client names as part of its settlement but has pushed hard to have the civil names case dropped. While the bank has legal avenues to challenge any ruling by Judge Gold, exhausting those options and still refusing to divulge the 52,000 names could subject it to indictment.

The showdown has prompted Swiss ministers and officials to conduct an lobbying campaign in recent weeks in the corridors of the Treasury Department, the Federal Reserve and K Street lobbying firms in Washington.

As part of the campaign, Swiss officials have raised the specter of global financial instability should the civil case continue to be litigated, rather than settled, either before or after the hearing on Monday. Last month, a United States official briefed on the matter said that the Justice Department was considering a settlement.

“It’s ongoing negotiations, and we’re not talking about it,” Mr. Ziswiler, the Swiss ambassador, said. Referring to the 52,000 names, he added: “It’s just a number. We don’t know how many people have actually declared their income correctly.” So, the big question is, who will get sold out, and when? My bet would be those with accounts under $50 million will get fed to the tax dogs... Social stratification, international banking style!

Both Mr. Ziswiler and a UBS spokeswoman, Karina Byrne, said that UBS was not willing to pay a fine to settle the names case in addition to the $780 million settlement. Ms. Byrne added that a plan by UBS to raise $3.5 billion in capital, announced on June 25, had no connection to the names case and would not be used to settle it out of court. Beef???!!!

Referring to a possible settlement, the Swiss minister for economic affairs, Doris Leuthard, who is also vice president, said on Wednesday in an interview in New York that the longer the case lasts, “the bigger the chance that UBS is suffering,” adding “financial instability could be threatened. A big bank with a severe problem will hurt the stability of the financial markets and the global economy, and this is one element that should be considered.”

The case has taken its toll on UBS, whose core businesses also include investment and corporate banking. James Odell, general counsel for UBS’s investment bank in the Americas, said Wednesday in a brief interview that “it’s an overhang that’s best to get rid of.”

URL: http://www.cnbc.com/id/31842253/