Damn IB, always screwing the small investor at the worst possible time. Luckily I am now only holding CEN.TO and HNR with them so both dont qualify as their market caps are well above that treshold.
Sometime soon I will be leaving any US based investing facility altogether as US is becoming a very unfriendly place to invest in or conduct any business with. As it turns out, If I die tomorrow of a heart stroke, the IRS will come out after my wife for inheritance of the HNR shares trying to make her pay because it´s a US listed stock and I was holding above USD 60k worth of stock. Can you believe that? It sounds unreal, but IT IS REAL !
Well, it gets even worse.... next target of US IRS is to enforce capital gain taxes ABROAD on any US listed stock on anyone disposing of such stock no matter where the account is.... that is MARXISM at its worse! This might sound like crazy, but it´s info spread around on offshore heavens in Europe at least as some sort of warning from US and everyone is on hold waiting to hear the final word...
As bad as things are getting, doesnt surprise anyone that no new IPOs are going into US markets but into Singapore, Hong Kong and the likes...
And doesnt surprise me then what Intel is doing for instance. They keep most of their cash earned abroad and dont repatriate to the US cause they would be charged AGAIN on those earnings. And see what they just announced? A bond issue of 1.5 Billion intended for share buy backs at about the same rate of their dividend yield (3.5%), so this way they can buy back shares at no cost to them.
So thanks for all the cheap money and loony tax policies, as you can see:
1) Don´t help to create any jobs
2) Scares capital away out of the U.S.
Similarly, like a "retail Intel" I will be leaving the US as an investment jurisdiction soon and moving out to other countries.
I haven´t visited Asia since the 90s, maybe it´s time for me to do so again.
If anyone has experience with any good brokerage there, please let me know...
