Schlagwort-Archive: deledefs

Thumbs up for the last ratings

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The only problem I see is that the downgrades were just to low and not complete enough

It still is completely ok to downgrade the EFSF. It’s simly a package of lies. It’s good hat this lies are not bought by the rating club.

You can see how well deserved the downgrades are if you read things like “Germans must help Italy” and the like. There is not must there is just a must not. But
this is ignored. But still I won’t forget the breaking of the contracts and laws. If you follow this blog you know that I’ve always expected them to follow their own given rules.
They won’t and don’t, so let them go down. So lower their ratings quite a big further an I’m happier.

It could get “interesting””

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As you might know I’m against government wherever I see it. Now there is some interesting new about Hedge funds and Greek debts.

As you might know Merkozy have informed us that Greece must be saved and was saved, partly through a “voluntary” renunciation through banks.

It seems some parties are not very happy about it and have bought many soon to be maturing bonds. Now what does that mean?
It means they expect either a full payment (that would be a fantastic return on investement) or that Greece will default and that the CDS will have to pay.
In both times they are winning big. And that is excellent new.

I’m quite aware it will harm the counter parties and in the first case (the full payment) those are we the tax-payers. Anyway. it’s up to everyone to take the risk
or not. It’s clear a few billions will be won by the Hedge fund but in the case of some expropriation. I guess they are aware of that danger. They should know
quite well. “One can not trust government” If you do you will come home in a body bag.

Think about it

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even if not for all to long.

What has Obama said before he was voted? What of these things has he fullfilled?

If you find he has delivered what he promised, vote for him again. If you think he has delivered too less. Just do not vote for him. It’s everyones decision to
vote for or against some candidate.

If you think for the US for a while and see your bills of rights. Can you find your US in there?

If you think about the debts the US have, think about what will happen to you if you are that deep in debts.

If you have thought about this for a while, you may get an idea for whom to vote. Feel free to share that view with others.

Now I understand what Obama meant

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in his past tries to win this election (which unfortunately he did win)

His motto was: “Yes we can”

I was always puzzling, “what the hell does he mean with “we caan” “. And now I know. He just mises a few little words.
Yes we can, make more debts”.

And they do, they make more debts as if there won’t be a tomorrow. And well if they proceed, there surely will be no tomorrow for them quite soon.

Because I see loosing them (the deledefs) as an advantage. I just can ask the member of the parliaments kindly. “Would you mind to give Obama another few trillions please”.
The next vote is just a little over a year. So maybe Obama can ruin the US till then. After that the people may consider what has made the US the economic giant,

If they figure that out, they may vote for a better president… It would serve us all.

It seems more and more are convinced

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That trusting the state with our money was/is one of the worst ideas. Well of course the deledefs will never admit that.

But if this system will break down, there may be a time at which we’ll get a chance. But till then you can help us ending the central banks especially
in one way. Do not give any credit to any state any more. They can tax you, that’s an unfortunate truth, but they can not force you to buy any bonds. At least not world wide and not forever.

Our money of independence is gold. So you better do trust in gold. You an see the deledefs of all countries do not fear anything more but independent people. You can buy independence with using fiat-money as less as possible and while paying as much as you can in cash. States like Italy which are broke forbid, cash payments. They say it’s because of fighting the organized criminality. That’s their argument, but you do not have to believe it. Do you really believe the criminals start paying using bank accounts?

So I invite you: “Join us”. Let’s end the central banks before the central banks finish us….

Money printing the ECB way

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Great news for all the inaptly European banks out there.

The lender of last resort, does what the FED does for ages, they are printing money. Well it’s not named this of course. Because we live
in time of double-speak. It’s to avoid a credit crunch. And of course the hope is the inaptly banks buy bond from inaptly states.

Is there a way we can influence that? No chance. the ECB is independent and it does not have to follow anything, but usually their laws. And stretching them
is probably the thing Draghi likes the most. And so we go. The ECB funds the defaulted states. What a happy news….

Don’t you think

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it’s time for a change in the US (amont every other developed country in the world)

Ain’t you Americans so proud of “law and order”?

Now tell me why don’t you stand up for law and just stick ot order(s)? Why are you not standing up for your freedom?

Think about it you have voted for democrats or republicans for ages. Does it have done any good for you?

If the answer is no, wouldn’t it be time to change your voting habits? As I remember you can vote every 5 years or so. It does not matter
how worse your current president is, You always can get rid of them. Wouldn’t it be time to get rid of Obama and all this deledefs?

Why not give Ron Paul a chance. He stands at least for the constitution and civil rights. Wouldn’t that be an option one could try?

And it’s highest time to take back your money from your deledefs. So how about a new gold backed Dollar? Think about it. Would the banks be bailed out
for “real” value? If the answer is no, why do you still believe in paper money?

So I don’t know what you think but I think yes it’s time for a change…

I’m im(de)pressed

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Guess that the democrats and republicans have find an agreement. The agreement is as follows

  1. We can not save so we need more credit
  2. We seriously have tried to save.
  3. We messed it up as usual.
  4. We are not sorry, you have to pay

I remind you of this blog before they raised the credit limit. To 17 trillions or so. Now 1 trillion more is gone in not half a year. Tell me anything about sustainability.

I’m sorry for the US citizens, but you are completely fucked up. Your choice is the choice on how you like to get killed. The result is always the same. You’re dead.

I would change my mind, and give someone else the chance to save if there’s something to save. Vote for Ron Paul and liberalism. Everything else is just
serfdom. You do not have to believe me that. Just have a look at any books written by a liberal and compare you constitution against liberalism. You’ll see that’s the
way the old ones wanted to have the US Not this socialism of either democrats or republics.

Don’t believe

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in anything you hear from any state. You can bet 99,99 % of it are lies.

I give you but one example: The purchase of Greek bonds. In 2010 the German government asked the banks to buy Greece bonds. A year later they
declared that half of the value of this bonds are “gone”. And it’s of course the speculators which did not buy or sold the bonds which they do not have trusted any more,
which are the defrauders.

It of course not that the deledefs of all countries have collected debts as if they were the most valuable things one could have.

So I repeat myself. don#t believe any promises of states. And do not believe that states will pay their dues. If you believe, you are doomed.

So run to sel all the bonds of states you have and let them crumble. See that you have good relations to producers of food and shelter. Even better see that you can produce food or shelter or
have deal with someone who can. Yes the problem is if you are bound to a country, you are bound to the disposal of the “leaders”. But they can not take everything from you, if they try they sooner or later
will die a miserable death. And it’s not that they want to die, just remember they want but one thing. Live on your expenses.

So I repeat myself don’t believe in anything from deledefs…..

I guess I found it

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The national anthem of all deledefs.

Go here and here:

The “King” of Pop for the Kings of debt, defraud deception.

It fits and I think it should be made obligatory to be sung before any new meeting to save the

  1. world (because of the climate
  2. the euro
  3. the fiat-money systems
  4. the banks and central banks

Every time we should be “saved” for whome or whatver than the should sing this song.

And before they sit down do do anything. The people must have the chance to see:
Big Brother

Alternatively Animal Farm

That would be just fair game…

abhorrent

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Well if you follow the “wordings” in the debt crisis you’ll see abhorrent and unfortunately very dangerous words.

They are talking about a currency war, and they use the same oratory like in real wars. What the point in that?

There but one enemy in all states it the own government and you won’t hear something about a currency war neither in the US population or ours. We could get along
very well without anyone telling us that the other is our “enemy”. And it’s a plain lie. The day the Euro countries will break down the day thereafter the US will crash.
And the same the other way round.

The deledefs probably know that they all are broke. The official debts alone are enough for breaking the states, but upon that there are the coming debts.
Neither the US nor any Euro country has build reserves for the coming pension payments. Just remember GM? It was broken by promised pension obligations. And that was just
a company which has to “earn” their money. But the pension obligations are gone and taken over by government. And add another promise waited to be broken on the
mountains of broken promises.

The states are the incarnation of inefficiency and waste, but they won’t tell you that sad but honest truth. No on working for bureaucracy in government does do anything good. They are just
burning money. And this money is extorted from the monopoly of force of the governments. So guess that the states do all they can to claim and hold their populations as hostages. And some are more than willing to serve as death camp guards. They do eve believe they do something good. It’s abhorrent.

Socialism at work

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Well yes it is still at work, and getting stronger by the day.

  1. the SPD wants a stability and growth union in europe (that’s newspeech for, we want to gain more control and put all in misery, but pst don’t tell anyone)
  2. the dictatorship gets into another round in Russion. Putin Medwedew are just chaning positions.
  3. The USA and GB are heading for a new war in Iran
  4. Last and least the FDP member do not vote against all this socialism, and those who do not vote against it are working for it

Overall it’s getting worth every hour. It’s as if the leaders want to go to war again, just for their survival….

Why don’t they get it?

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Or maybe one should write, why do they do not learn?

More and more european countries want that the EZB starts printing even more money. Well let me ask just one question? What does the US citizens have gained with
their fed printing money? Or what have the GB citizen gained?

Just to give you an idea GB will need new debt of around 100 billions. Now tell me about insanity. Of course the money is not there, and the
government is not able to cut down on it’s expenses? Now tell me about addiction. It should help someone drinking to drink yet another few liters of alcohol a day?
Well is the goal to die early? Or earlier? Or should one get beyond this addiction and get back a life?

Well for alcoholics the goal is getting of the drug. Why should it be different for governments? Their one and only problem since 5 decades is that they were not able to
get along without new debts and what are new bonds? Sugar? No even more of the same debts. So that is insane.

The US and GB and all other countries must come down from their addiction to new credits. No debts not problems. And for us it means we must do everything to not provide the
additives with new stuff. Just do not buy bonds, just insist on sound money. That’s the best for everyone (but parasites) .

Worst ways

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or, why deledefs love Fiat-money and their money monopoly.

Well as we have to realize that we have a debt problem world-wide. (USA > 15 trillions of debt, just remember in June or so they have raised the debt level vom 14 trillions), The EU somewhere between 18 – 20 trillions.
Japan a few trillions also and China which claim to have one trillion in “securities” from the US. And so it goes on and one. There is currently not one country world-wide with absolutely no debt. Now
tell me about insanity

How can that happen? Well its a “perfect” construction for parasites. The parasites are the politicians, bureaucrats, and big banks. Banks may live without a state, but a state with out banks is well historical hardly to find.
Now it makes sense for both sides to work “together” the banks are the only ones which are able to sell all the trillions of bonds. And with every selling, the earn quite a bit. Now what’s the advantage for banks. Well they got “political” cover from the states. Either directly as e.g. the Landesbanken in Germany and/or the Sparkassen or indirectly as you can see with the bail-outs. Why do states accept this. Well a bank is not just the seller for bonds but also the holder of deposits. And here comes the worst of all. The banks to take this deposits and lend them out, either directly while buying bonds, or just for other credit facilities for the state. Now this money is not theirs and if the state would not try to “save” the banks, the deposit owners may not get back their deposits. So banks and states are working with everyones property to satisfy their never ending appetite for money.

The biggest thing of course is creating money out of nothing. Absolutely impossible for money as value (read gold as money). If the banks give a credit there are suddenly the credit euros or dollar there, and they do not have backed up completely with their own money. It’s just a digit in a computer. So you can create more and more credit, and you just can “hope” that the investments done with credits will be paid back. That is (un) fortunately true most of the times that works. Well in fact if the just loose the normal 5-10 % of the given credit sums, they still earn big. Anyways this system comes to a screeching end if the overall debts are way to high. That’s the case currently the states have to many debts and people do not believe any more that they will pay back. So anyways the whole money system is a big Ponzi-scheme. Banks and Politicians are allowed to run it but if you do that in a private enterprise you got to jail (which is correct)

Why can that all work? Well the easy answer is the states do own the “most” weapons and they do write the laws. So if you do not comply you’ll get to jail. So people must be afraid to work against this stealing because otherwise they would get harmed. Not to forget the state have currency monopolies and central banks. That another level to obfuscate the wrong-doing. They name it “lender of last resort”. Does that not sound “wonderful”?
And it’s a plain lie again. central banks are backed up by state promises. And that’s all there is. I don’t know how you see it, but for me this promises are not worth anything. Governments are lying most of the time, and mostly then if it’s especially embarrassing for them. Just read about anything from Obama, Junker, Baroso, Merkel and Sarkozy in this regard.

And you can see the greediness of banker and deledefs. They make new laws to save themselves for prosecution. And the state just claims some banks are indispensable. And so we got the worst one can get.

Such system do break every few decades. This system now works for around 50 years and we’re nearing another end of such a deception cycle of the follies of deledefs.

A lot of things

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just stink. Now I have to read really bad comments about Berlusconi, but years after years nobody but a few did not have had anything against him. Hi tries to avoid processes with special laws targeting his wrong-doing. Tried to shorten statutory periods of limitation. All this was done during his whole period of “leadership”. Was there much critique?

No, he’s the leader of a big economy and nearly all is fine. Now he was gone and now hardly anything is fine any more, that stinks.

The EZB was started with the one and only goal stability of the currency. And is now buying bad bonds as mad and is the one of the biggest bad banks around. That stinks.

Everyday we get new laws to save us from ourselves, and this laws are binding to us. We have to follow otherwise we will be prosecuted. Now there are laws which are broken by our parties over and over again, and we do not even have a chance to question them in court. This laws are not binding to deledefs, that stinks.

Just a small excerpt of things which have more than a smell. And as it seems there will be much more to come, that stinks.

This time is NOT different

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Do yourself a favour and buy or try to get your hand on “This time is different”. It is as if this book was written for this crime we currently have to watch.

If you just believe a second what the supposed-to-be-experts write. Just forget it, especially forget nearly everything Krugman writes. No too much debt is
always the beginning of the end. And this was trues always and can not be changed. You just can live beyond your means as long as people trust that
you’ll be able to pay back.

This trust has to be earned. But if you always act against horse sense, you’ll see one day you won’t get any credit any longer. Now it seems that too many countries faces this fate.
Greece does not get any more money, and Italy is starting to get no more money. And the US can’t do anythign any longer because of 15 trillions of debt.

You may remember:http://mises.org/Community/blogs/fdominicus/archive/2011/09/08/who-could-be-suprised.aspx. It’s so foreseeable

Foreseeable wrong. Nothing has changed since ages the rulers enslave their underlings. Today they name it democracy, but democracy is just another kind of dictatorship. The majority rules the minorities. And guess what the vermin are the majority. You can name, them bureaucrats are the most harmful, but then you will also read from the poor blind which can not do this or that or whatever. It’s always that it’s not ones own fault, no the culprits are always the circumstances or the others.

In every speech these days you will hear things like responsibility, helping, solidarity, and not to forget justice. Well the justice of spongers…..

The real justice markets are not even considered any more. All the laws and every action is against markets. Free trade? Come one you must be joking. See the treaties of trade of the US. The bureaucrats, decide whom can do what trade with whom else. And you have to ask the spongers, and if they do not want. Well bad for you….

Let’s think a little bit

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Well maybe thinking is a litttle to much maybe speculate would be the better word.

As you may have read, Euro land is in as deep trouble as the US. It’s an open question who really is the worse, but well that’s another story.

Now we have read a lot of ideas about saving. One of the ideas of saving was a tighter “cooperation”, well it probably is a asked quite much to synchonise 27 different countries, but welll that’s another story again.

But now something changed the ideas slightly. At first Greece is finished. Well just remember the vote then the note vote etc. Anyway Greece just stands for around 350 billions of debt. If you look over Euroland this really is not much. Anyway with the default of Greece bonds french banks will get in knee deep trouble. So far there’s nothing new.

But here we go. The interest Italy has to offer are exploding. We are now well beyond 7%. That means a doubling of your debt in “just” 10 years. Or the other way round with 7% interest and 1.8 trillions of debt (official!!), Italy has to pay interest of 1.8 trillions in 10 years (with 7% interet). No that are as much as 180 biillions a year the budget of italy is well below that of Germany that are around 300 billions. So let’s assume 250 billions. You can see 180 billions are way too much. So saying that Italy is bankrupt also could be seen as fact.

Now as you know ESFS III should be leveareged to over 1 trillions guranteees (which seems to be illusory) just see my entry on my old mises blog at: http://mises.org/Community/blogs/fdominicus/archive/2011/11/09/extension-to.aspx

So with high likliness this all can not be expected to work. Now the “new” idea is to split up the euro zone into a core zone and a “rest” And now comes the information I found most “revealing”. This is driven by France and Germany. Now we know France and Germany have seen itself as “engines” of the eu process. but guess what the french banks have a hell of outstanding bonds from Italy of around 270 billions!. Now the budget of France surely is in that areas. So if italyy defaults France is “finished” also. They can not bear another 270 billions alons. If you see that with the work on the core europe one can come on some ideas….

Extension to

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my blog entry a few days ago, about the sustainability of the ESFS.

  • Fact 1) the “auctions” were bad. And the ESFS has to offer much more interest then Germany bonds alone (guess how many would “back” up this bonds)
  • Fact 2) neither the Chinese nor the Japanes, nor the Russion are willing to buy ESFS bonds
  • Fact 3) hardly and private held bank “invests” in this bonds also the only ones taking some of the bonds will probably be government controlled banks.

    • Just imagine the last auction was just over 3 billions now how will they get the leverage on 1 trillion?

    I’m not afraid but sure, that ESFS III can be judged a big failure. Well for liberals and libertarians this can’t be a suprise, but even for normal people this is good news. It means there
    is some natural limit on the manipulations of markets and this supports my other entry:
    http://mises.org/Community/blogs/fdominicus/archive/2011/10/21/in-the-long-run-markets-will-prevail.aspx

    I’m still as sure that we did not have seen the end of the interventions. The deldefs world-wide will try to find another way of prolonging their “dicatorship” and I’m sure everyone will have
    to suffer under this decisions. But in the end they will end on the dungheap of history. A new round will start but then I’m afraid again. The spongers will come back. And the honest again will suffer.
    Freedom is just a seven letter word for them, they have absolutely no bonds with it….

    What was won with ESFS III?

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    Well I’d like to write. “With ESFS III” we are now on our way to correct things.

    Unfortunatly one can not write anything about that. It’s not that we started making less debt, au contraire. It is tried again to fix something caused by debts to cure with more debts
    The voluntary “cut” of the banks of around 50% is absolutly open. I very depends what positions the banks take. If they think they can gain more by a open default of Greece, then they will follow that path. Anyway the problem is every bank will have to decide for themselves.

    Because of the CDS we don’t know how bad it would hit the banks. Maybe they are on the side of getting th assurances. Than the problem will be of their counterparts. I just know if anything would come from any government I would be very skeptical about any advantages supposed to hold for me.

    Just remember last year the governments actively asked the banks to “invest” in Greek bonds. Well if you’ve done that you’d have to bear quite a loss now. There won’t be any advantage.
    And see that the bonds of states were treated as if they do not have any risk. And so they are treates nearly as equity. Not it turns out they are everything but risk free. And now the states require higher equity to back up their bonds. So you can see, the states do everything they can to get more under their control.

    If you give into the sirene songs, you are in deep trouble. So I just can recommend the same as for ages. Do not hold any bonds of states or you will be sorry sooner than later.

    leverage <> leverage

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    Now you may be suprises leverage under different circumstances do have a different meaning.

    Meaning if used by politicians: “more fire power”, hardly “more” risk, telling markets stories of drunkeness and cruelty sorry, sedation. It’s just for the “bigger” good. Just well the base for this leverage still is money they do not have in the second case this is named differently, here it is named saving the taxes of the population.

    Meaning if used by not politicians, greed, high risk if done with money on does not have speculating on credit. Ah yes Lehmann was gone because of leverage but you see leverage is not leverage every where.

    In short the politicians use what the doom in the private economy. To be true, I guess we have to go back far in time to find a similiar decision day in parliament. Last time it ended in WW II.

    Deledefs is just to kind to this kind of men…..

    If anyone says one could not know

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    I looked through my outer Mises Blog and found this:

    Spare the money now, spend it later

    The Failout plan can not expected to work with an acceptable certainty. In fact I’d bet 1:10 it’ll fail.
    But if you throw out the money now , you have nothing else if this failout plan fails. It’s high time to prepare for a recession phase. The prices for home equity will fall, maybe crumble. At least down a third IMHO. That will distroy a few Trillions of value, this fall can not be held with 700 Billions.
    So keep the money, now and see how to spend it one something which will work with higher probability. Building of houses will dry out, however the US infrastructure needs some overhaul.

    You have to face the fact that Oil is sparse, and you have to face the fact that Water is sparse also in many regions. In the forseeable future California and especially Las Vegas will suffer under water shortage. You’ve to come back an invest in your own country in the producing industries. The cars are build sloppy, the houses often also, this sloppyness will cost you dearly.

    You can not help, but the chinese have over a trillion US-$ to spend, you must be prepared that they will buy cheaply if not now than just a bit later. Use the money for an “american” solution. Tha means give the people the means to help themselves. That means “fair paid” jobs, “fair prices”, you need as every developed country craftmanns which can build, repair and maintain the ideas engineers invent. So spend money wisely on education for your children and grown-ups also.

    It’s not worth hanging to just one plan, (which in fact is none). Search for alternatives, discuss them and then make an educated choice. Currently you give yourself none but one choice and that’s exactly as useful as none plan at all. If in doubt, do nothing, that’s at least an alternative….

    Now we are starting talking about money.

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    Now imagine in the EU. the safety chute chould be around 500 Mrd EUR . Now we hear from the IWF (with Mr Lagarde (France) at the top. And the French bank in peril. That
    the EU zone has to prepare a giant bailout for banks for just around 2 000 000 000 000 EUR.
    http://www.telegraph.co.uk/finance/financialcrisis/8786665/Multi-trillion-plan-to-save-the-eurozone-being-prepared.html

    Impressive, isn’t it? Really. Italy alone has 1 800 000 000 000 € debts. So are we preparing to bail-out Italy. Now why stop there? France debts are somwhere near that I guess and Germany has well traveled beyond 2 000 000 000 000. Now would it be possible to give me a break from this stupidity?

    For all those still believing “we can manage” let me encourage you just a tiny bit: “Game over”.

    I was preparing to leave Germany last year, my wife disagreed. Now we are caught in this big trap. I’m afraid my entry about new lows will be the understatement of the decade. Well let’s see how far my Puts will tear me. And how long money will be the means to buy anything. Funny colored paper. Who could imagine it’s impact.

    To all politicians.

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    I know hardly anyone bothers and the least our public-payed TV institutions. And even less nearly any of our politicians (there are exceptions confirming the rule)

    You are breaking the laws you have established yourself. There is the no-bail-out clause for states. There is also the law that the EZB only “target” is the stability of the EURO.
    You are all liars, and defrauders and black-mailers. I just want to state it without any misunderstanding.

    For all the other, having to work for their money and not being paid by any government. In the long run market will prevail. Try the best you can to harm any deledef and any bureaucrat. Try to give them as less as you possibly can without conflicting with the laws they have made to get you. You won’t get away with it, but make their live as miserable as you possibly can. It’s you who is right and they are the wrong-doers and parasites. Obama wants more money? Well do not vote for him, you can next year or so.

    Fight also against the violations of base human rights. Guantanamo can be Los Angeles or any city in the US very soon. Fight the FED where you can, do not buy any treasuries. Do fight for your right for sound money. Request from your congressman to not vote for any higher debt ceiling ever. You have the right on your money. It’s not their money and they are not the generous ones to give anything to you. They live on your expenses.

    All you Greeks who do the harm to your corrupt and 99% too big government you have my sympathies. They live much more on your expenses as nearly anywhere else in the world but socialists countries. Say no to corruption, say go you Politicians. We do not bear you any more. If you are sane, you leave the € and introduce sound money, all the funny paper will just be inflated from your next “elites”. Do not accept a new round say no to Fiat-Geld and say no to a Greek central bank. If you follow the route of the fiat-money, you’ll be right back where you currently are in not more than 30 years. Is that what you really want? A state bankruptcy every half century? Think about it….

    To two of our european politicians

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    In this case to Mr Sakozy and Mrs Merkel

    Whatever you do do bring more harm upon us. You are not the owner of the Europeans. Currently at least on wishes you really bad things.

    You are working on sinking even more money, you are working on establishing more contract violations. Both of you are not minimize the harm, you are maximizing it.
    I’d bet a few years from on you will find the place you deserve. Among the worst politicians ever. You name will get a prominent place in “the hall of deledefs”

    Future will show if you or the markets will be right. I’m sure the winner will not be you.

    I also will do whatever I can to harm you in any way which does not lead me to jail. I will write against your stealing every day. No other move against us will be tolerated or not documented. I always write where you violate the principal human rights of every one. Both of you are big thieves, both of you are paid by blackmailed money. I will also try my very best to not even get near you and you can bet I will all I can to not pay your dues. I wish you the poverty you are planning to put on us. I wish you all the worst.

    A view on different taxes

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    especially in regard to the situation in Greece.

    Well my opinion about taxes it that they are theft in any case, It’s not a deal you may make or may not do. You live in country X the “authorities” from country X will tax you.
    You have no choice but comply, otherwise you will be “convinced” at the point of a gun and/or face hard times in jail.

    It would be a little better if you’d have the chance at least to state for what you are willing to pay. Let’ s assume e.g the higway were build from the government. And you use them . The right thing would be to charge only those using the highways. That would be just. Anyway if you’d had at least the chance saying from my taxes x% are for the highways. (It’s just an example) this would be at least fit something a little bit like a market. But you do not even have that choice. So without doubt taxes are payments without some guranteed return. So in fact it’s theft and because it involves the “violence monoply” of the state it’s even worse

    But income taxes are less expropriating as taxes on substance and or deat taxes. If there is an even more unjust type of tax, those are the candidates. Assume e.g you earn exaclty the free income before income tax applied. You do not pay any tax than.. Now assume you earn just that much money and have a substance tax, as were introduced in Greece. Now you have to pay the tax and you get taxed before income tax can set in. Now what does that mean. You may have to ask for a credit to pay your taxes? And next year when the same holds the interestes and principals have to be paid and the taxes again?

    So in fact taxes on the substance are absolutly incompatible with property. So they are the most unjust things ever put on tax payers. And that’s the way Greece has gone. The requirements and payments get more and more injust. And still the same old gang is at the top. Now tell me something about hate….

    The non interest earning gold

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    This is a very crude way to discuss. If you’d read Rothbard you will see he never talks about some fiat-currency but gold ounces and that even those earn their interest.
    That it’s not so with current gold is simply because gold is calculated in whatever fiat-money you can think of.

    And you do not lend Gold but “money” , as we know this money is not real money, but that’s another story

    Still since 2001 gold has risen from around 300 USD/ounce to well over 1800 USD/ounce in 2011 that means the you need six times more money today to buy one ounce.
    That are a little below 20% raise for now 10 years, and the last 3 years the raise has risen to 27%/year. So if you’d spend 1000 USD in 2001 in Gold you know could get back 6000 USD and well the inflation rate is quite a bit lower

    On the other hand the interest yielding Euro money today yields 1.976 % for 10 years. In Germany we’d have to pay 0.4xx % taxes on it and inflation rate is near 2.5%. You’re loosing a percent every year.
    If we just would calculate with double the interest for the past 10 years and you’d invest 1000 USD for 10 years you and without taxes you’d now have 1343 USD. Now talk about the “great” interests this money earns….

    Because all central banks and politician try to devaluate their currencies one just can buy gold, sit back and watch. The madness will come to an end. Do you think you will fare better with fiat-money or Gold?
    Well I for my part have decided that for me….

    After all this years.

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    The same simple questions, I asked 3 or more years ago remain unanswered.

    How can even more cheap credit solve a problem which was caused by too much credit?

    Now 3 years later and 4 000 000 000 000 later, the question still remains unanswered? How could it ever get better with even more “debt”?

    New lows? Sure new lows !!

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    Well it seems the lows were not low enough

    1) The USA growth was cut by 2/3 from the “experts”

    2) The help for Greece is not enough the “saving” goals will not be reached

    3) Gold climbs again but the Germans sell their Gold attire (do they really think they will not miss some value to barter with on the markets?)

    4) Italys Berlusconsi says Italy is shit

    5) Obama “promised 1 Million new jobs”

    6) Bernanke does not do anything currently but has vengeance weapons.

    7) The people still buy swiss money as if there won’t be tomorrw

    8) The economy growth in Germany is supposed to get much slower

    9) Many Germans give a sh… on their own personal debts.

    Dear Readers, you can see they do not what they do but they are marching on….

    You remember my predictions? Well inflation is still high and yield are on record low. That means you loose money while you bu bonds. If you feel like burning money, do me a favor and send the money you like to burn to me. I’ll buy some extra precious metals…..

    I found this in my other blog written some 3 years or so ago:
    http://fdominicus.blogspot.com/2008/10/down-drain.html

    It could be that the around 10 trillions or so have bought us 3 years. Well half of the time the whole have worked for that much money, and it does not seem to help,. I bet another non-existant 10 trillions wil harly buy us another 3 years maybe 1-2.. and then?

    One of those days

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    where neithe the sun warms nor the wind cools. It’s one of thos days grey-in-grey my photo cells on the roof deliver energy just enough energy for one 40 W bulb. In best times I can get over 5000 W an hour which surely is enough for all our needs. Anyway not today.

    Now how provides my energy today. In honest I’ve change some 3 or so years ago to an energy suppliert not using coal or nuclear power. Thanks to markets I had have and still have this chance. So today my energy comes as usually from water. But to a large extend this is not what the “normal” users will get. They will get their energy from coal/gas/oil/nucelar power plants. Howerver you see all the photo cells are useless today all the wind engines are “superfluoous” today so in fact two times the needs of the people are installed. One time with “renewable” energies and the other times with conventional plants. Well that means also that we have at least double the costs for a reliable energy supply. So in fact today is exactly a day where not even tons of money would help with energy production from renewable sources. Bad for all the users that they still have to pay all the prices be it from the renewable energies and “conventional” energies.

    However more interesting, there was a gold rush time for suppliers of photo cells. (maybe around 2007/2008) and this was due to what? Well just one word subsidies. I know first hand because In 2008 I bought my photo cells and for now 20 years the following price is guaranteed: 46,75 €/KWH. that’s nearly four times the price for a standard KWH. Who has to pay, well the other inhabitants of Germany not lucky enough having their own roof full of cells.

    Am I regretting this buy. Not at all, I named it to that time self-defense. And that is as I see it still. I’m not one of those paying the bills of bureaucrats and deledefs without trying to avoid them. Yes I know I harm others but this is government induced. I would not have bought the cells just for my own pleasure. They were much too expensive to really be competitive. They just get competitive through one of the greatest thefts in history. Introduced and bared from all this f….. deledefs. There is not exception to this stupidity any longer in Germany.

    However it’s getting worse. The cell producers had their height in or around 2007/2008 since then the guaranteed prices have dropped massively I think they are barley above 20 ct/KWH now.
    And now just see the stock prices for those cell producers. The dropped between 70 to over 95 % from their highest levels. So you still can see without this absolutely brain-dead subsidies they still can not produce the cells as cheap to be competitive.

    Do you think the Deledefs are mentioning that during their speeches about sustainable energies. Not a word, they just tell us that “many” working places were created for that. And that Germany is the leader in “green ” technology. Just think about it a second. The prices for the cell producers are completely under water and it’s just a question of time when the first will get bankrupt. What about the many work-places than?

    In honesty there is hardly a better example on deception one can find world-wide. The big “change” just hot words and substance. As I wrote at the beginning. “One of those days”….