14 thoughts on “Spotted at DNC Convention: Canadian MP Paul Dewar”
I believe it is quite common for Canadian politicians to attend the RNC and DNC as observers.
I don’t know if any American politicians ever attend Canadian political conventions. They may not know where Canada is.
Totally OT, but I found an interesting paragraph in this NYT piece (p2) on Spaniards leaving Spain:
“Setting off the flight was the failure of Bankia, which came as a shock
to Spanish savers who had been assured by government officials that the
bank was in good shape.
Instead of calming fears, the state takeover prompted comparisons to
Argentina in 2001, when peso bank accounts denominated in dollars were
frozen in order to stem the flight of deposits.
The corralito, or corral, as the Argentine action is known, has become
part of the public conversation in Spain. The million-plus Argentines
who have since immigrated to Spain have provided ample and gory stories
of desperate legal battles and wiped-out savings.
Eduardo Pérez, a Spaniard who was working in Argentina during that
period, remembers the events all too well. He said he lost four-fifths
of the money he had kept in an Argentine savings account, though he
declined to say how much money was involved.
“Some of my friends lost everything,” Mr. Pérez said. “So yes, everyone in Spain knows about the corralito.”
Recently, Mr. Pérez, who lives in the northern city of Bilbao, removed
about a third of his euros from his Spanish savings account and sent
them to Singapore, converting them to Singapore dollars.”
FBAR’s represent the first fence posts in the IRS’s corralito, FATCA the rails.
Once it has started you cannot stop a run on a currency, or a nation, without controlling where the wealth flows. In ’33 FDR seized the gold, and there was no where else to run. Now we have e-banking. On January 1, 2013 FATCA will stop virtually all foreign banks from accepting US wealth fleeing the US corralito. Both political parties are in on this.
@ConfederateH:
OT: You have likely seen articles that the demand for safety deposit boxes in CH has been increasing and there is an increasing amount of CHF currency in circulation, with speculation that CHF 1’000 notes are being bunkered in CH and abroad, e.g., India. In 2007 there was CHF 39.9 billion in currency in circulation with CHF 23.3 billion (55.3%) in CHF 1’000 notes. In 2011 there was CHF 49.3 billion in circulation with CHF 29.2 billion (59.2%) in CHF 1’000 notes.
SNB quote: “The high proportion of large denominations
indicates that banknotes are used not only as a means of payment but
also – to a considerable degree – as a store of value.”
The below blog speculates that the primary reason for the ongoing delay in issuing the new CHF currency is for political reasons related to recalling so much bunkered currency and not for the technical reasons as publicized in the press:
I don’t necessarily agree with him because the old CHF currency can be exchanged for the current CHF currency for 20 years.
@innocente: The last url gives a 404 error…
I don’t have a lot of faith in the Frank or the Swiss banks. If I was German, Austrian or Italian I would certainly have a bank account in Switzerland and a safe deposit box there with some gold in it. Up to now as I Swiss I don’t have the opposite although I probably should.
When the Frank breaks the 1.20 peg there will be a very big price to pay as the SNBCHF blog describes. The SNB will be broke just like all the other CB’s and then we will see what the politicians do. Personally, I believe in Silver and Gold and I wish I could move my second pillar into them.
Like many, I share similar concerns about the SNB’s printing of CHFs to buy Euros and other currencies. CHFs are future claims on the Swiss economy and too many CHFs chasing the same amount of production can be expected to result in inflation.
There was an article somewhere that showed that if the SNB continued to print CHF and buy foreign exchange that it would be largest holder of foreign reserves in around three years time, i.e., more foreign reserves than China and 2 to 3 times CH’s GDP. Would like to find the article again.
Although I am not a gold bug, I measured my safety deposit box the other day to determine how many gold bars could be placed in it: 13 x 100g, or 1.3 kg. Conclusion: a larger Schliessfach may be needed!
@innocente, when I read that Arlesheim article it just reinforced my confidence in gold. Those paper 1000er notes have nothing backing them but Swiss government debt. If the gold frank ever gets off of the ground and is convertible then those notes might be interesting.
I sure wish I had enough gold to fill my safe deposit box! I have some silver in there too, and even some Swiss 1000er’s but I prefer smaller denominations (more liquid). I used to have some Euro notes too, but I dumped them a year ago (after the Euro crashed). I don’t bother with dollars and I wouldn’t want to finance Uncle Sam by owning his debt backed paper.
Some miscellaneous claptrap from the DNC convention about how Obamanation is gaining respect for USP’s abroad. Is this all the this expat delegation had to offer this storywriter? What a bunch of bobbleheads!
What is he talking about? To enter Canada, as a dual living in Canada, he’d have to have shown his Canadian permanent resident card while he waited to get Canadian citizenship, or a Canadian passport once he became naturalized here. To enter the US, he’d have to use the US passport – regardless of his Canadian permanent resident or Canadian citizen status, or break the US law saying that all those deemed US citizens can only enter the US with their US passport.
@Badger
Good point. Perhaps at borders other than the US and Canada’s? He joined Democrats Abroad in 2004.
I’m feeling a little cranky today so decided to write a letter to Democrats Abroad and express my disappointment in their bobbl-heading support of President Obama:
Dear Mr Ken Sherman, International Chair-Canada (New York):
I recently had the pleasure of reading an article by Sasha Issenberg entitled “Dispatches from the Democratic National Convention”: http://www.slate.com/articles/news_and_politics/the_breakfast_table/features/2012/_2012_democratic_national_convention/the_democrats_abroad_delegation_believes_barack_obama_has_improved_america_s_reputation_overseas_.html#comments
The article focuses on an interview with a few members of the Democrats Abroad delegation at the convention where these delegates, including yourself, expressed how Mr Obama’s presidency has improved the image of all Americans throughout the world and quotes you as saying “I am proud to carry my US passport again.”
Mr Sherman, may I suggest that you enjoy this brief period in history, as I feel that the world will soon become aware of Obama policies that will again put the US in a bad light, namely FATCA. It is with regret that I voted for Obama in the last election, as he done more to hurt the lives of US persons abroad than any other president in the history of the United States. I too live in Canada, and when I speak to ‘regular’ Canadians and explain complex issues like citizenship based taxation, FBAR and OVDI I am first met with disbelief, then anger that a country such as the US would do this to its citizens. I urge you to be prepared that when FATCA, with its extraterritorial overreach and negative effects it will have on the Canadian economy comes to the attention of ALL Canadians, we will begin a new era of anti-Americanism in Canada. Obama will not have my vote unless he acknowledges and makes a real effort to undo the harm he has caused US persons abroad before the November elections. In the meantime I will make every effort I can to make other Americans aware of how Obama is working to make our lives a living hell.
Thanks, bubblebustin, that’s inspiring. I’ll follow your example and that of my daughter.
“Obama will not have my vote unless he acknowledges and makes a real
effort to undo the harm he has caused US persons abroad before the
November elections.”
That’s all it takes for some IBS liberals. We are sooo screwed, this sucker is going down hard.
@confederationH
Ok first of all I really don’t think Obama is going to do anything to help us, so really there’s no folly in promising him a vote. However, it may get the attention of those who value the expat vote when they realize one might go to the other camp instead of theirs. Frankly, I’d don’t see any value in voting for either him or Myth Romney.
Knowing this, you’d be more accurate calling me a sneak than a liberal, tyvm.
I believe it is quite common for Canadian politicians to attend the RNC and DNC as observers.
I don’t know if any American politicians ever attend Canadian political conventions. They may not know where Canada is.
Totally OT, but I found an interesting paragraph in this NYT piece (p2) on Spaniards leaving Spain:
FBAR’s represent the first fence posts in the IRS’s corralito, FATCA the rails.
Once it has started you cannot stop a run on a currency, or a nation, without controlling where the wealth flows. In ’33 FDR seized the gold, and there was no where else to run. Now we have e-banking. On January 1, 2013 FATCA will stop virtually all foreign banks from accepting US wealth fleeing the US corralito. Both political parties are in on this.
@ConfederateH:
OT: You have likely seen articles that the demand for safety deposit boxes in CH has been increasing and there is an increasing amount of CHF currency in circulation, with speculation that CHF 1’000 notes are being bunkered in CH and abroad, e.g., India. In 2007 there was CHF 39.9 billion in currency in circulation with CHF 23.3 billion (55.3%) in CHF 1’000 notes. In 2011 there was CHF 49.3 billion in circulation with CHF 29.2 billion (59.2%) in CHF 1’000 notes.
Safety deposit box article:
http://www.finews.ch/news/finanzplatz/8836-schweizer-schliessfaecher-liegen-im-trend (German)
2007 CHF Banknote statistics:
http://www.schweizer-franken.ch/?Schweizer-Franken.ch:Der_Franken_als_Hort-W%26auml%3Bhrung (German)
2011 CHF Banknote statistics:
http://www.snb.ch/en/iabout/cash/id/cash_circulation (English)
SNB quote: “The high proportion of large denominations
indicates that banknotes are used not only as a means of payment but
also – to a considerable degree – as a store of value.”
The below blog speculates that the primary reason for the ongoing delay in issuing the new CHF currency is for political reasons related to recalling so much bunkered currency and not for the technical reasons as publicized in the press:
http://arlesheimreloaded.ch/schweizer-banknoten-in-tausender-noten-ii/ (German)
I don’t necessarily agree with him because the old CHF currency can be exchanged for the current CHF currency for 20 years.
@innocente: The last url gives a 404 error…
I don’t have a lot of faith in the Frank or the Swiss banks. If I was German, Austrian or Italian I would certainly have a bank account in Switzerland and a safe deposit box there with some gold in it. Up to now as I Swiss I don’t have the opposite although I probably should.
When the Frank breaks the 1.20 peg there will be a very big price to pay as the SNBCHF blog describes. The SNB will be broke just like all the other CB’s and then we will see what the politicians do. Personally, I believe in Silver and Gold and I wish I could move my second pillar into them.
@ConfederateH:
Here’s the fourth link again:
http://arlesheimreloaded.ch/schweizer-banknoten-in-tausender-noten-ii/
Like many, I share similar concerns about the SNB’s printing of CHFs to buy Euros and other currencies. CHFs are future claims on the Swiss economy and too many CHFs chasing the same amount of production can be expected to result in inflation.
There was an article somewhere that showed that if the SNB continued to print CHF and buy foreign exchange that it would be largest holder of foreign reserves in around three years time, i.e., more foreign reserves than China and 2 to 3 times CH’s GDP. Would like to find the article again.
Although I am not a gold bug, I measured my safety deposit box the other day to determine how many gold bars could be placed in it: 13 x 100g, or 1.3 kg. Conclusion: a larger Schliessfach may be needed!
@innocente, when I read that Arlesheim article it just reinforced my confidence in gold. Those paper 1000er notes have nothing backing them but Swiss government debt. If the gold frank ever gets off of the ground and is convertible then those notes might be interesting.
I sure wish I had enough gold to fill my safe deposit box! I have some silver in there too, and even some Swiss 1000er’s but I prefer smaller denominations (more liquid). I used to have some Euro notes too, but I dumped them a year ago (after the Euro crashed). I don’t bother with dollars and I wouldn’t want to finance Uncle Sam by owning his debt backed paper.
Some miscellaneous claptrap from the DNC convention about how Obamanation is gaining respect for USP’s abroad. Is this all the this expat delegation had to offer this storywriter? What a bunch of bobbleheads!
http://www.slate.com/articles/news_and_politics/the_breakfast_table/features/2012/_2012_democratic_national_convention/the_democrats_abroad_delegation_believes_barack_obama_has_improved_america_s_reputation_overseas_.html#comments
these would make great mascots for Dem’s Abroad:
@bubblebustin;
Interesting quote from that article you provided the link to: ““Before 2008, when we traveled abroad we wouldn’t tell people we were
American,” said Kenneth E. Sherman, a former Democratic committee man in
Buffalo who now lives in Ontario with dual citizenship. He was elected
Democrats Abroad’s international chair in 2008, propelled by a campaign
speech in which he waved his American passport. The point, Sherman
recalled, was that during the Bush years he had been ashamed to show it
to border authorities, presenting a Canadian document instead. Now, he
said, “I am proud to carry my US passport again.””from http://www.slate.com/articles/news_and_politics/the_breakfast_table/features/2012/_2012_democratic_national_convention/the_democrats_abroad_delegation_believes_barack_obama_has_improved_america_s_reputation_overseas_.html#comments
What is he talking about? To enter Canada, as a dual living in Canada, he’d have to have shown his Canadian permanent resident card while he waited to get Canadian citizenship, or a Canadian passport once he became naturalized here. To enter the US, he’d have to use the US passport – regardless of his Canadian permanent resident or Canadian citizen status, or break the US law saying that all those deemed US citizens can only enter the US with their US passport.
@Badger
Good point. Perhaps at borders other than the US and Canada’s? He joined Democrats Abroad in 2004.
http://www.democratsabroad.org/executive+committee
I’m feeling a little cranky today so decided to write a letter to Democrats Abroad and express my disappointment in their bobbl-heading support of President Obama:
Dear Mr Ken Sherman, International Chair-Canada (New York):
I recently had the pleasure of reading an article by Sasha Issenberg entitled “Dispatches from the Democratic National Convention”: http://www.slate.com/articles/news_and_politics/the_breakfast_table/features/2012/_2012_democratic_national_convention/the_democrats_abroad_delegation_believes_barack_obama_has_improved_america_s_reputation_overseas_.html#comments
The article focuses on an interview with a few members of the Democrats Abroad delegation at the convention where these delegates, including yourself, expressed how Mr Obama’s presidency has improved the image of all Americans throughout the world and quotes you as saying “I am proud to carry my US passport again.”
Mr Sherman, may I suggest that you enjoy this brief period in history, as I feel that the world will soon become aware of Obama policies that will again put the US in a bad light, namely FATCA. It is with regret that I voted for Obama in the last election, as he done more to hurt the lives of US persons abroad than any other president in the history of the United States. I too live in Canada, and when I speak to ‘regular’ Canadians and explain complex issues like citizenship based taxation, FBAR and OVDI I am first met with disbelief, then anger that a country such as the US would do this to its citizens. I urge you to be prepared that when FATCA, with its extraterritorial overreach and negative effects it will have on the Canadian economy comes to the attention of ALL Canadians, we will begin a new era of anti-Americanism in Canada. Obama will not have my vote unless he acknowledges and makes a real effort to undo the harm he has caused US persons abroad before the November elections. In the meantime I will make every effort I can to make other Americans aware of how Obama is working to make our lives a living hell.
Thanks, bubblebustin, that’s inspiring. I’ll follow your example and that of my daughter.
“Obama will not have my vote unless he acknowledges and makes a real
effort to undo the harm he has caused US persons abroad before the
November elections.”
That’s all it takes for some IBS liberals. We are sooo screwed, this sucker is going down hard.
@confederationH
Ok first of all I really don’t think Obama is going to do anything to help us, so really there’s no folly in promising him a vote. However, it may get the attention of those who value the expat vote when they realize one might go to the other camp instead of theirs. Frankly, I’d don’t see any value in voting for either him or Myth Romney.
Knowing this, you’d be more accurate calling me a sneak than a liberal, tyvm.
Obama: the more effective evil:http://www.truthdig.com/avbooth/item/obama_effective_evil_or_progressives_best_hope_20120908/