09-18-25 savo
was Israel involved in Kirk's murder while the WH was receiving Netanyahu with honors?
https://x.com/tpv_john/status/1967311692863610943?s=48&t=JHX4_bRzg43q7__yG__aUw
https://x.com/adamemedia/status/1967688908520689849?s=48&t=JHX4_bRzg43q7__yG__aUw |
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09-18-25 victor
mccarthyism..
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ABC pulls ‘Jimmy Kimmel Live!’ indefinitely after offensive Charlie Kirk comments
Jimmy Kimmel is taking an involuntary hiatus.
ABC said it is pulling the comedian’s late-night talk show off the air “indefinitely” following his controversial comments about the killing of Charlie Kirk.
“Jimmy Kimmel Live will be pre-empted indefinitely,” an ABC spokesperson confirmed to The Post Wednesday, Sept. 17.
Kimmel, 57, faced backlash after he said Monday night that the “MAGA gang” was trying to score political points off Kirk’s murder after the conservative activist was shot dead on the campus of Utah Valley University in Orem, Utah, Sept. 10.
“We hit some new lows over the weekend with the MAGA gang trying to characterize this kid who killed Charlie Kirk as anything other than one of them,” Kimmel said during his monologue.
Nexstar Media Group, the major broadcast company that serves as a primary affiliate for ABC, confirmed that it would “preempt” Kimmel’s program in the wake of his remarks.
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09-18-25 savo
i read that once all the dirt is taken out of the job numbers, downward revision after downward revision, the US is destroying private sector jobs and creating net only public sector jobs.
And that is happening with negative real interest rates, public spending at an historic high... fiscal deficit at an historic high... public debt at an historic high and the weakest dollar in years.
Another blow is now tariffs, which will push inflation even higher, jobs even lower and longer rates even higher.
Foreigners will continue exiting the dollar and UST market in droves and the Fed will end up being the only buyer in town for USTs.
By the way... august cpi came at 0.4.. annualized is 5%.. not 3%.
So...the Fed brought rates to zero when inflation what at 1.6% (0.4 below 2% target) and is cutting rates with inflation at 5% inflation... and that is the reported one... next time you go to the shops think about the real one.
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09-18-25 pillz
as the employment rate will go up ...
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please read : the unemployment |
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09-18-25 spal
| The tariff effect has not yet flowed through ... they are talking a good story, but an unsaid objective is to inflate away some of the debt. |
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09-17-25 pillz
they have tacitly accepted a 3% inflation rate.
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they think that it will go down to 2% in one or two years.., because the economy will go down a bit , as the employment rate will go up ... |
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09-17-25 spal
Clearly, it’s all about jobs, jobs, jobs.
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Given the low participation rate and lower demand they are not yet really excited about jobs - it is just a nod in that direction. The real news is that they have tacitly accepted a 3% inflation rate. |
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09-17-25 spal
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09-17-25 spal
| NVO up AH on an announcement about successful trials of a pill formulation of there Wegovy product. |
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09-17-25 pillz
bottom line: if there is no transfer of any "US situated property", there is no US estate tax.
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Carib, there is always a transfer , if somebody have an account and is dead, the heir must open (or have an account) where the assets will be transferred ... |
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09-17-25 pillz
| Carib, thank you, but I speak about accounts that are on a name (I don't have a trust or any other construction for my assets ) with US assets and or even cash US$ , the problem is that such account needs to demonstrate (the heir in case of dead) that the account have less then 60k$, if above , then they need to fill it with the IRS , and will be taxed between 18 to 40% |
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09-17-25 carib
taking the IRS website as source one finds the following:
For estates of decedent nonresidents not citizens of the United States, the Estate Tax is a tax on the transfer of U.S.-situated property, which may include both tangible and intangible assets owned at the decedent’s date of death.
bottom line: if there is no transfer of any "US situated property", there is no US estate tax.
The problem is that certain US securities can in certain circumstances be considered "in situ assets".. but if they do not belong to the deceased, and are consequently not transferred following his demise, I do not see where the taxable base would be. |
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09-17-25 carib
Pill: I am not sure on exactly what my opinion is requested.
I do have a US bank account, with far less than 60K$ balance, just used to have an additional US$ credit card besides my international dollar AmEx. This is probably now made obsolete by Revolut.
I do not have any personal account with US securities in custody anywhere. The US recognises the existence of foreign trusts with no US settlors or beneficiaries as tax neutral for them.
I reside in a country where there is no inheritance tax, and I might move to other countries with no inheritance taxes. If planning to move to countries with inheritance taxes in the future, I would transfer my personal estate to other appropriate structures before doing so.
I started family estate planning before reaching age 30.
If you have specific questions, just e-mail me.
Cheers! |
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09-17-25 pillz
Thanks for joining us. Here are five key takeaways from the Federal Open Market Committee’s interest-rate decision and Federal Reserve Chair Jerome Powell’s news conference Wednesday:
Fed officials lowered their benchmark interest rate by a quarter percentage point, to 4%-4.25% and penciled in two more reductions this year.
Stephen Miran was the only official to dissent, preferring a larger, half-point cut.
In his press conference Powell highlighted labor market softness as central to the committee’s decision; “I can no longer say” the labor market is “very solid,” he told reporters.
In their economic forecast, policymakers slightly upgraded their median outlook for growth in 2026. They also forecast modestly higher inflation next year
The dollar erased losses. Treasury yields rose, led by the five-year yield, which climbed 6 basis points to 3.65%. |
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09-17-25 panasonic
Pilly, of course has a very difficult job, but Fed can't act on historic in days that data is produced real time.
USA the only developed country with high rates right now, it's politically driven, all the rest is... |
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09-17-25 pillz
He’s being very polite, but Powell is offering a pretty comprehensive bit of pushback against the White House:
He says there “wasn’t widespread support at all” for a 50 basis point cut today.
He doesn’t directly respond to Bessent’s call for an independent review, saying he won’t comment on “anything the secretary says.”
He continues to keep silent on whether he plans to step down from the Fed altogether next May.
He declines to comment on the Lisa Cook affair
He says it’s in the Fed’s DNA to base decisions solely on data and economic understanding. “That’s how it’s going to work.” |
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09-17-25 pillz
It’s worth noting that the Fed is cutting rates, and projecting more rate cuts, at the same time as upgrading its growth forecast and nudging up its inflation outlook too.
Clearly, it’s all about jobs, jobs, jobs. |
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09-17-25 spal
| 25bp cut ... forecast of 2 more cuts this year |
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09-17-25 panasonic
| Leo, that is very workable for uhnwi. |
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09-17-25 pillz
| it looks like GDX and J is on stabilization .... |
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09-17-25 pillz
| I really await the opinion from Carib ?? |
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09-17-25 savo
thank you all for this very useful information...
the Satanist States more satanist than ever!
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09-17-25 pillz
| in Belgium, the first 50k is 3%, then 250k 9%, and over it 27% , for husband and or children, but if it is more far you approach 50% |
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09-17-25 pillz
Negiglible for the time being
4% for children \ wife
6% other parents
8% NON relatives
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Belgium it is 27%, :-(( |
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09-17-25 pillz
| Leo, thanks for the explanation on Italy ,, me think that also in Belgium some banks do it... , as I heard nothing with isin US from my bank Bolero online broker from KBC bank, US isin is from PDVSA blonds ... they await me to open a new online acc via bolero to transfer those bonds..., but I tried to send them to IB in Ireland without success, as it this isin is not in their database , but now , I will not do it, because I know the rules... |
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09-17-25 leopardo
Negiglible for the time being
4% for children \ wife
6% other parents
8% NON relatives |
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09-17-25 spal
| NVO - obeying orders (even in this morning's pre-Fed flux). |
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09-17-25 panasonic
| Leo, how much is inheritance tax in Italy for amount above exemption? |
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09-17-25 panasonic
"Since the asset is not directly registered as “U.S.-situs” in your name"
Exactly Leo, and most probably italian bank charges custody fee.
When one goes to a discount broker need to use some structure but brokerage like IBKR limits the kind of trades allowed, specifically selling naked puts or calls. |
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09-17-25 leopardo
Pillz from An Italian stand point:
2. U.S. taxation
• The U.S. has a federal estate tax, which applies to U.S.-situs assets owned by non-residents.
• For non-residents, the exemption is very low: USD 60,000.
• Above this threshold, federal estate tax applies at progressive rates up to 40%.
• However:
• If your U.S. stocks are held through an Italian bank (custodian) rather than directly with a U.S. broker, in practice the IRS usually cannot enforce estate taxation, since the asset is not directly registered as “U.S.-situs” in your name.
• Moreover, the Italy–U.S. Estate Tax Treaty (1999) provides that, for an Italian resident, inheritance taxation falls primarily under Italy’s jurisdiction, except for specific U.S. property (e.g., real estate in the U.S.).
⸻
3. Practical conclusion
• Your children will pay only Italian inheritance tax (with €1,000,000 exemption each).
• In the U.S., they generally should not owe anything if the U.S. stocks are held in Italy through an Italian bank.
• U.S. estate tax risk arises only if the securities are held directly with a U.S. financial institution in your name. |
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09-17-25 pillz
the rule is unknown specifically if you bank in EU, and when is too late.
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Pana, it is unbelievable, about 10 years ago , I had only US assets and cash at JP Morgan in the US... if something happened then, it was a 40% tax by the IRS and 27% in Belgium ... |
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09-17-25 panasonic
| Pilly, the best way to deal with it for European investors is to avoid any paper with Isin starting with "US", that should work. |
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09-17-25 panasonic
Vic, perfectly possible, now that they are being blown away, most likely they paused.
No air, no sea...road is tricky with $50MM bounty.
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09-17-25 panasonic
Pilly, I learned abt. the 60k rule when my kids moved to USA, as you said, the rule is unknown specifically if you bank in EU, and when is too late.
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09-17-25 pillz
here you have it from : Estate Processing Team EU
IBKR Financial Services AG
Attn. Claudia F.
Gubelstrasse 28
CH-6300 Zug
Switzerland
US Situs: Please note that by regulation if at the date of death the value of the deceased account on U.S assets, where the issuer is a US entity or government, are more than 60 000 USD, then the heirs have obligations with the IRS.
Our compliance department requires the following:
a) If the deceased had more than this amount you will need to complete the form 706-NA and obtain a tax certificate from the IRS. See below:
https://www.irs.gov/businesses/small-businesses-self-employed/transfer-certificate-filing-requirements-for-the-estates-of-nonresidents-not-citizens-of-the-united-states
b) If this is not the case, we need a letter from the heir(s) confirming that the deceased had not over 60K USD in U.S. securities or commodities at IB or any other brokerage firm and that they don’t have a tax obligation to the IRS. That can be done via a signed letter which can be attach to this email. The letter does not need to be notarized. |
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09-17-25 pillz
got taxed on all US holdings, even if they never visited USA...terrible situation.
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yes , most people don't know it , it's terrible ...you are taxed twice , in the US and in your country ... |
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09-17-25 pillz
Now I'm US taxpayer
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this is something different , I speak about non US citizen and not US taxpayer... |
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09-17-25 panasonic
Pilly, you dodged a bullet!
Know people who didn't know and got taxed on all US holdings, even if they never visited USA...terrible situation. |
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09-17-25 panasonic
Pilly, yes bcz of that "60K limit" when my kids moved to USA had to create a structure with an estate lawyer, only problem was that unrealized profits were taxable, capital was not.
Selling an asset with substantial profits and re-buying it immediately was my way to deal with it, that way price was reset to last purchase.
Now I'm US taxpayer so inheritance rules are even more simple.
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09-17-25 pillz
| I am happy , that I had no assets in the US, no mini bonds no bonds like I had a lot about 15 years ago ... I would be taxed about 40% by the IRS, nobody never spoke me about it ... |
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09-17-25 pillz
most accounts are in name of some structure.
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I don't know the rules IRS and like you say "some structure" |
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09-17-25 pillz
| btw, long or short options are NOT considered as assts, they are considered as contract ... it is the only thing that I had within the US, and cash $ , coming from short options , so I need not to fill anything with the IRS, because my account is IB in Ireland , that is regulated by CB of Ireland and the EU ... , but if I had long stocks , bonds ETF etc.. , even regulated by EU, you must fill papers with the IRS , and it take min 9 months before they liberate the funds .. and tax you ... |
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09-17-25 victor
pana, right, but is it possible that only those 3 small ships have left venezuela, with drugs, in 1-2 weeks ???
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09-17-25 pillz
Pana, if you have an account in the US , or any affiliate , depending on the US even your cash is considered as an asset..
Not if you have an account that is regulated in Europe , only US assets (stocks , bonds etc that trade in the US ) are taxable in case of one of the two is dead, not the cash in us$ .
Be careful nobody know it... , but in inheritance , be very careful with the IRS , even if you think , you are not a US citizen and have nothing to do with the US , but in your account you have US assets ... |
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09-17-25 victor
pana, first time the judges are aiming directly at sanchez.
plus more problems for his wife.
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La Justicia ya apunta a Pedro Sánchez: reclama que se le investigue por el polémico rescate millonario de Air Europa
El Tribunal Superior de Justicia de Madrid (TSJM) ha reclamado a la Oficina de Conflictos de Intereses, dependiente del Ministerio de Transformación Digital, que abra una investigación sobre el presidente del Gobierno, Pedro Sánchez, en relación con el rescate de Air Europa y la actividad profesional de su esposa, Begoña Gómez.
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09-17-25 pillz
Inheritance is different thing, so most accounts are in name of some structure.
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we had no structure ..., because in Belgium , if one have it , you have problem with the tax all the time ..., so it was on our names, a joint account ... |
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09-17-25 panasonic
Pilly, didn't read the full thing but if account is joint with right of survivorship and both are not US taxpayers money should go directly.
Inheritance is different thing, so most accounts are in name of some structure.
Case of US taxpayer $15MM per person are tax free, and $30MM if joint. |
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