Tag Archives: Accounting

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Should Palestine switch from the shekel to Bitcoin?

Palestine has tried for decades to establish independence, but Israel has not been willing to give up its colony, so the occupation continues.But for the first time in history, an emerging country like Palestine has the ability to secede from its occupying overlords by adopting its own cryptocurrency: Bitcoin. Not a shot needs to be fired. No UN votes are needed. No global peace talks. Just Bitcoin for the win.Pluses include; money can be sent in and out of Palestine completely unmolested by the international bankers who have conspired with Israel to keep Palestinians behind Israel’s apartheid wall; both physical and monetary.Remember it was an international boycott of UK’s Barclays bank that ultimately brought down the apartheid regime in South Africa. Here we have a slightly different situation in that Barclays bank is now part of a government controlled system that relies on rigging Libor, energy, credit default swaps and precious metals markets and there are no exceptions to this rule by manipulation, so mounting a boycott is virtually impossible. Not only has Barclays become ‘too big to fail’ but it has also become too big to hold accountable for international human rights abuses. (same for the other three big UK banks and the biggest banks in the US too).And we can’t forget the Big Four accounting firms along with their army of lawyers and bankers who suppress millions with their vicious monetary dictatorships and market manipulation schemes – that force up the price of food and energy – but without raising the cost of credit for insiders (or wages for outsiders) who can borrow virtually unlimited amounts of cash at near zero (and in some cases negative) interest rates – providing capital to build slave labor camps anywhere in the world like in Palestine (and buy weapons) for virtually no cost; not to mention occupying strategic assets like water and energy in neighbors (like Israel occupying Palestine: the real reason).Bitcoin, like the spiritual leaders who have come before it in the Middle-Eastern desert, is a miraculous gift capable of transforming an oppressed, forgotten people. The Palestinian economy is a multi-billion dollar economy that unfortunately benefits mostly outsiders. But if Bitcoin were adopted as the official currency, Palestinians would be able to shape their own economic destiny and in so doing their sovereign destiny.In very short order, Palestine would have the soundest currency in the world, as coveted and as stable as gold and silver. As various paper ‘fiat’ money continues to get debased in countries around the world, Palestine’s currency would maintain its purchasing power. The living standards of Palestinians would increase to the point where the Palestinian bitcoin currency would put the Israeli shekel to shame. Read More

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E.On Russia to transfer 100% of 2012’s net profit into dividends

The company has recommended a dividend of 0.29 roubles per share for 2012, worth 18.3 billion roubles ($583 million), General Director Maxim Shirokov said on Friday.E.On Russia also plans to pay its shareholders 40-60 percent of its earnings under IFRS international accounting standards over the medium-term.According to Kommersant daily, German E.On needs money to compensate for the losses the company suffered after the German authorities pledged to turn their back on nuclear energy in favor of green energy. E.On is terminating the operation of the nuclear power plant it owns.The growing share of renewable energy sources and weak demand from industry have significantly reduced the profitability of the German company’s gas division.E.ON Russia’s payment of dividends will become the first time when foreign investors will get dividends from assets purchased during the split of RAO UES of Russia. Several Russian energy producers can boast dividends exceeding 1 billion roubles ($32 million). Others include RusHydro and Mosenergo.  The Russian subsidiary of the German company has increased its energy production by 2.78 percent in 2012, according to the Finam business news agency. The increase is mainly due to the expansion of the Surgutskaya GRES-2 power plant – the largest power station in Russia. Two new 400MW units were commissioned to meet the energy requirements of the city of Surgut and Western Siberia, and have increased the existing capacity of the power station by 800MW, to 5,600MW. Investment in the expansion project is estimated at €2.8 billion.E.ON is the largest buyer of Russian gas and also the largest foreign investor in Russia. The expansion programme is part of the company’s investment programme aimed at increasing the clean energy production to 2,400MW.Total power generating capacity of E.ON Russia exceeds one billion watts. The company includes five hydroelectric power plants (Surgutskaya GRES-2, Berezovskaya GRES, Shaturskaya GRES, Smolenskaya GRES and Yajvinskaya GRES) and «Heat networks of Berezovskaya GRES», delivering energy to consumers in the region surrounding the plant. Read More

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Tesla revises in-house financing plan for Model S buyers

Last month Tesla CEO Elon Musk announced a partnership with two major banks that would make it easier than ever for potential customers to secure financing when purchasing the company’s Model S electric car. The executive used some creative accounting principles to arrive at the conclusion that it would cost… Read More

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Russia instructs ‘Foreign Agent’ NGOs to report spending quarterly

The ministry also instructs those groups with foreign agent status to prepare reports on their activities and management every six months and a full audit of their accounting books once a year.So far, no organization has registered as a foreign agent in Russia even though the corresponding law came into force in November last year. This year the authorities launched a major inspection throughout the country and the prosecutors and the Justice Ministry now claim that 18 groups must receive the status.The NGO audit is still underway.This decision only led to protests from the groups who said that the inspection was ill-founded and any foreign sponsorship had taken place before the law came into force.International organizations and rights groups, as well as foreign governments, have criticized the Russian Law on Foreign Agents as such, saying that it can be used as means of pressure and lead to underfunding of Russian rights organizations.Russian sponsors of the law, including senior officials, replied that the law simply required the activists to clearly indicate the sources of their funding in order to better inform the public. The Russian side several times emphasized that no organization can be closed under the existing law.President Vladimir Putin said in a recent interview with the German broadcaster ARD that the number of foreign-funded non-governmental organizations operating in Russia amounted to 654. He also said that these organizations received 28.3 billion rubles, or almost $1 billion, from their foreign sponsors in just four months that passed after the adoption of the Foreign Agents Law. Read More

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Herbalife auditor KPMG resigns amid information leak

NEW YORK — Herbalife shares reopened for trading in the late morning after the company learned that a partner at its independent auditor may have been trading Herbalife shares illegally.Herbalife’s stock was down 21 cents at $38.18 Tuesday. The broader market was mixed.Accounting firm KPMG told Herbalife that it had to resign as auditor because it learned that a KPMG partner may have used inside information to trade Herbalife stock.Herbalife said KPMG’s resignation was not related to Herbalife’s financial statements or accounting practices.The development comes at an awkward time for Herbalife. Hedge fund mogul Bill Ackman has publicly accused of it distorting its financial information. Herbalife has shot back, saying Ackman just wants to push the stock down for his own profit. Ackman has bet the stock would fall. ;Continue Reading… Read More

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Majority Supports Residency and Citizenship Pathway for Unauthorized Immigrants, Muted Support to Ease Path for Future Legal Immigration

According to the
latest ;Reason-Rupe
poll, 70 percent of Americans think the 11 million unauthorized
immigrants currently living in the United States should be allowed
to stay. A majority (55 percent) also believes unauthorized
immigrants should eventually be allowed to apply for citizenship if
they meet certain requirements.
Nevertheless, Americans are less supportive of making it easier
for future immigrants to enter the country legally: 40 percent
favor raising the visa caps for high-skilled and low skilled
workers.
Support for offering residency and pathway to citizenship is
correlated with partisanship, education, and youth,
detailed ;here. ;However,
partisan differences are attenuated when accounting for Americans’
assumptions about immigrants’ economic impact,
detailed ;here.
Interestingly, there is little partisan disagreement when it
comes to easing the path for new high- and low-skilled workers
seeking visas.
Read the full report here: ;Reason-Rupe Feb
2013 Full Immigration Findings
Nationwide telephone poll conducted February 21-25 2013
interviewed 1002 adults on both mobile (502) and landline (500)
phones, with a margin of error +/- 3.8%. Columns may not add up to
100% due to rounding. ;Full poll results found ;here. ;Full
methodology can be found ;here. ;A
full analysis of the poll’s immigration results can be
found ;here. ; Read More

House Republican has no sense of humor about ‘Star Trek’ parody video

Two pop-culture parody videos produced by the Internal Revenue Service have attracted the attention of Rep. Charles Boustany Jr. (R-LA), who has demanded an “accounting of all costs associated” with the projects. According to The Hill, Boustany, who chairs the House Ways and Means…

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