Since this is an era when many people are concerned about “fairness” and “social justice,” what is your “fair share” of what someone else has worked for? – Thomas Sowell
Works like a charm…. – well not really. I guess you are not suprised to read that. It’s was so obvious, but no ” this time is different” -as usual (not).
So they learn again that socialism just works a few years and the longest for the “elites” of the leading party. But in the end there’s nothing left, and if you can’t pay your supporters any more they support vanishes like snow in the sun.
So yes I could write. I told you so, but for what good is that? I feel the pain of the duped people, I know it will get much harder just to survive, and you see all you saved going down the drain. It’s just so depressing, and well it hits the supporters as well as the opponents. But of course it’s getting harder for the later first.
And so we know how it will end. Poverty for all, but a very small group at the top. Do you expect the president will go to bed hungry? Do you expect he won’t be able to leave the country as he likes, do you think he’ll keep his property just within the borders of Venezuela?
“There is a lesson to be learned from all of this, and I think it is a very important one. When it comes right down to it, any government â€“ not just the Argentine government, but the US government as well â€“ will simply do whatever it thinks it needs to do to keep the status quo intact, with no moral or ethical considerations.”
Really isn’t that the state of government world-wide? Isn’t that nearly always the state. The states are the biggest thieves and wrong-doers world-wide. All the past wars were about one state against one or more others. And the biggest defraud ever established is the world wide dominance of fiat-money currencies. Nothing does more harm to every men on this planet. Just a few are a bit more in the abyss but the others try really hard to follow straight….
This supranational absolutely useless and indeed damaging organizations, with standards hardly bearable for any honest men, are the “hell on earth”. They do commmunicate with dictators and those promise the blue from the sky, get their project and tons of moneys and that from the poor indoctrinated people, of te developed countries. And then it’s get really absurd if countries without anything like civil rights judge about countries which at least have them…
you american politicians. You’re short on morality, and short on money? Well I can’t help with the morality stuff but I can with the money stuff.
Watch what the EC (finance) debt ministers have done. It’s so easy just steal from the bank account holders. You maybe have 17 Trillions of debts, but don’t be afraid. I’m sure the Americans have much more in their accounts.
So do it as the Europeans. Just with 10-20% of stealing you get rid of all the debts you have. And the circle of new debts can start again.
So feel free to watch and learn
Two entries on the zerohedge log:
and one that leads me to:
That’s the difference between states and firms. States to make firms suffer and firms have to see how to get out of it with their own money. States never get out of it with “their” own money. They just steal more (that’s called tax)
The booms are introduced by to cheap money. And money without worth. That’s the point. If the US would have to gurantee their currency with something of value. They would not be able to pile up that many debts. So it’s easy, they export Dollars and get something of some real value in return. The Dollar owner just can “hope” that he may be able to buy something with an paper later.
The USA overall lives on the expenses of the world and still they have sky rocketing records of the food ration cards. In the end it means the debts are somewhere cycling around without being used for highering the the real goods output. And that fits perfectly. The debts we have in the states are circled around. Greece can not pay so they got “new money” read “new debts” from the EU. And the banks which take in the money are buying new “bonds” of states. Handing it out as “security” to the central banks and there is it the debt. The so called “assets” (bonds) read debt claim is the highes in all central banks ever in non-war times. So that means the central banks are the biggest holders of “promises” of states to pay back their debt.
Well that’s a neat system isn’t it. The states to guranteee the mony monopoly to the central banks and the central banks take the parity value of the bonds from states as “given”. So how long would you expect such a system to be trust-worthy?
well or you can name is political theatre time.
If it wouldn’t be so serious one could sit back and enjoy the show. Anyway the US democrats and republicans will simply raise the debt barrier again and so the so called fiscal cliff will just vanish like snow in the sun.
Nothing will change, the fact that the USA is bankrupt. Not just in the tight sense of having nothing more but debts. But even in moral standards. The wars are unjust, the surveillance against the civil rights. The FED is an illegal construction and the green-buck with being backed up by something like gold or solver a sham.
So the system will break down. We do not know when and how. But it’s now unavoidable. The US with just 5% of the world population just stands for 42 % of all the NEW DEBTS. And every year now there is a deficit beyond 1.2 trillions (Yes I got that figures right).
So what we see is the last and biggest credit expansion ever. There’s nothing but too much money, and it helps the defrauders to expropriate those which still do have something of some value. The payments for the bank workers have nothing to do with fair payments. It just shows the owner have not way on stopping this Bankster. The bankster also have the advantage of the politicians on their side. (Who else should take the new debts) and the worst problem is absolute central the central bank FED. She will got down the drain and take the state with her.
Maybe the citizens will keep away the power of the parties. But chances of that are slim…. Maybe the go back to the core of the constituion, because one thing is for sure, the Deldefs and bureaucrats have broken it…
to read the comments on price development at least for Gold. I tend to day it does not make sense at all to expect anything of worth from stock “experts”.
Can one talk about a down for gold if it’s moving just 0.5%? Well I think no. And what’s worse, this opinions must make your head spin. Ask yourself has anything changed
the last two days which really can have any big influence of the prices?
Well Greece will get more money, money that we don’t have and if the states want to give it away they just can do on one way. More debts. So again we see some new bonds in any form
and well these bonds may get bought. At least not from me but that’s unimportant. Some banks probably will add some “risk-free” bonds of states to their bad debts of states. We have not heard of a bigger QE or the like and so not much has changed really. And indeed the prices just floats around a bit. That’s it.
And still you can read “cut back” for gold, the other day it’s gold on the raise and the explanations are not even a thing worth laughing. So just ignore it and ask yourself a few question. Do you think money printing does matter? Do you think the debt crisis was solved at least a bit? Do you expect the states doing something or nothing. That are the base questions.
I for my part have answered the questions this way. Money printing does matter it inflates the money base and will lead sooner or later to devaluation of the currencies. So if you want to save your money somehow you probably are not doing much wrong with some precious metals. It was nothing solved also. The debts are still raised and the stupidity of believing one could fill one while digged by debt with other debt is as insane as can be. However what I don’t know will the people consume much less? I’m sure the privates people will I do not expect anything like saving from states. They will raise the taxes for their endless appetite. for money. So will the bankrupt distort the currencies immediately or later? We simply do no know. But we do know Gold will always have some price, it scarce and people know that gold is money. So still some precious metals are a good idea. Now will states stop interventions? No they will not, they will extend the “control” (well as I wrote yesterday or so, this is just the imagination of control, states can not control much theses days) The sheer amount of debts is devastating. So what will happen I can not imagine a sane approach. So I just think the money printing will get on and so I’m back to “the case for gold”.
I’m quite sure they will consider making private gold holdings illegal again. But don’t think this will happen world-wide and still in this case I have at least some “confidence” that the highest courts will rule out the expropriation. That may just be wishful thinking but it’s the only chance we have. So having gold in your own country and abroad is proably one of the better and more intelligent things to do and have. And if you see it that way there is no excuse not having at least some gold. I have take my share of it, and I speculate that I’m right on this. Well I base my confidence on the work of the economists of the austrian school. And I think this is the safest bet you can have. Nobody else has pointed out the maniac behavior of the states and all they told and written has come true. That’s now true for more than 100 years, and as long as man has to do economics, this will not change. Yes agreed they are not explicit pro Gold but they do know Gold has worked as money and there’s not reason that is should not in the future… So do you want money? Take gold or other precious or not so precious metals.
on how to escape the greedy hands of states. It would be:
Don’t buy any bonds of states.
This is what you can decide, an no state can force you to do it. If you think the bonds of states are safe. You really do not have lived and read anything the last
4 years. Then I just can tell you, go ahead, buy your “safe” state Bonds.
Anyway if you have seen the actions of the last few years, you have no choice. Any bond you buy is a contract which harms our neigbbor and not the state. You can beleive me there
can be not better thing to do than harm states. They will send you to war with a smile. They will name you “hero” if you are killed. Words are cheap in this regard.
So first guideline for investing. Don’t believe states, and don’t give them your money voluntarily.
The deledefs currently seem to rotate. Well this time I will not speak of the stupidity of americans to vote between two dead-bets, but the European masters of stupidity.
Europe should guarantee the saving deposits of their people. I can reduce it to one question: With what? They do not have anything of substance and
the only think they can is tax the people. So the deposits are guaranteed with “the money of the people”. How unreal is that.
I calculate for Germany and there 20 % of the deposit holders own roughly around 3.2 trillions. And our official debt is a little over 2 trillions. How much more unreal can things get?
If every German would hold a saving deposit the guarantee would have to cover 8 trillions The complete deposits of all Germans are a littel over 4 billions. How much worth can this “guarantee” have?
If 10 % of the top deposit holders would request their money from the banks, the game would be over. So you can see see rich are very social. They let themselves get robbed and still
hold together all the crap….. I wish they would end this farce…
Oh it was another wonderful day of surprises (well if one can still be surprised)
A bank is in more than knee deep trouble. And surprise, the CEO of this bank has asked for a Bad Bank at the beginning of the year.
Surprise, surprise, the politicians play a major role in that bank. And surprise an insolvent bank is taken over by an insolvent state from Deledefs which have
driven the bank in insolvency. Surprise.
But that’s not all, the diverse institutions of the EU burn money, surprise. Let’s see most of the EU is not been voted but “established” from surprise the parties in the diverse countries.
And guess what the EU wants more money to pay their bills, surprise.
You can see the world is full of wonders and surprises.
Well we learned the Greek do not want to pay their debt any more. Ah well it fits.
Who cares about contracts? Who cares about saving in time? Who cares if the states sprawl epidemic?
The socialists of all color are at work. We know that from the diverse books ob von Mises (in this case
And with too man of them (as e.g in Greece) the arbitrariness comes
It’s clear that if you do have got paid from states (which means someone else has to pay for you, without the need of any delivery from your side), you
like to keep it that way. And so if you go to the vote you will not choose for those “taking away” from you. Oh well yes who cares?
Promises, light money, deledefs, central banks every part enough to send you into default.
Now I’m interested how the other defrauders will act. Saving? Come on let’s be serious., that’s nothing deledefs can. They just can take more from the productive, burn more money and
grow like pestilence. You see the actions. Nothing really way saved, au contraire, the debts have grown even faster, and the levels of bureaucracy are still increased. Oh “yes” that’s what we need more thieves.
And you can bet the laws are getting worse. It’s more and more a means of oppression, it’s not to save the individual of their states, it’s to save the states for their people. It sucks very badly. And the states or nothing more than crooks. I hope they will have to pay their debts and misdeeds this time. (I know it’s more likely that hell freezes over)
Well there are two things
- Actions of governments
- Action of central banks
Well in this case I will link to a blog in German:http://www.rottmeyer.de/von-sparweltmeistern-und-anderen-erfolgsgeschichten/
The Irish government has started to support renters. And guess what the prices of renting do not have fallen as much as the prices for houses. That just means the state subsidies do prohibit falling prices on the renting market. Or the other way round the not supported renters have to buy higher prices than they must.
Now if you are loosing your jobs, you may think about cheaper renting. But if you are not supported you loose.
And someones else has to pay the subsidies, that sucks so badly.
Oh yeah. And that from a country which has disappropriated all the private creditors and have ruined the middle class through high inflation. Am I impressed?
You can bet…..
Maybe we see the end nearing. The debts worldwide were soaring the last 3 years and still there is not relief.
It can not come as a surprise to the austrians, liberals or libertarians. What we have seen was and just is “credit expansion”. The central banks manipulate everything and
so we do not have any idea any more about “prices” for money. Just remember what I wrote some time ago:https://mises.org/Community/blogs/fdominicus/archive/2011/09/08/who-could-be-suprised.aspx
Feel free so just search a little through older entries and I also suggest having a look at: https://mises.org/Community/blogs/tincho/
I also wrote about what one “should” try. There is one problem which will bite you whenever you are just having money in one country. This money is prone to expropriation. Especially worse is it for countries nearing the default or being in default. Greece should be a warning for every one. There are now at least 3 levels of creditors. IWF and ECB as “primary” creditors, ECS has not suffered any losses (all the papers bought were change to papers with the same nominal value), then come banks (they were partly bailed out, either through ECB, FED or other central banks and they could probably keep there looses below 50 or so per cent. Then comes the private creditor. They had to suffer losses beyond 80 %. That’ s what will happen world-wide. If you think this well be a Greek specialty, think again and doubt it. If you believe the Fed, ECB or whatever political power will not do the same, you can start burning your money immediately.
There will be always problems if you are just “invested” in one country. The laws change and nobody will grant you anything. You own government does not shy away from robbery. So if you have all your property in your country they will get you. So be suspicious and send your money overseas into different areas. It’s unlikely that you will loose everything at once following that route. But be cautious, one larger country getting into default will have implications on other areas also…..
I just am astonished, there are more and more jobs on my “don’t” do it ever list.
I’m obviously completely lost as politician, because I do not want to rule (and to be honest I do not want to get ruled either)
I’m absolutely not suitable for any job where my payments would come from states. All the time I’m just thinking on how to get rid of those “people”. If I just see anything which does harm the Eurocracy and our government I’m quite happy….
I could not even imagine working e.g for the EU. It would be as if I’d betrayed myself beyond all hope. Anyway I sometimes feel I have to
try getting active in politics just for a freer life of my children. But I’m also new that my ability to lie is very limited. It always have served me well to be
frank and straight. There are those who can’t bear that, but I’ve to say I do not care.
I wonder how one can move something in politics without joining this circles? Do you have suggestions?
Well times they are changing ant it seems the car manufacturers are entering really rough see. The selling in February are down to a minimum
back to at least February 2003. So indeed we know we’ll see what will happen. If the sellings should be that low through the year, I bet we’ll
here of a new round of subsidies.
Why do I think that, well we have bail-outs for banks, states etc. and we had the paying of 2000 € back in 2009 or so for buyers of new cars. And
we know that there are markets and banks and there are system relevant banks. The former can go out of business, the later shall not.
So I guess this will be after the markets. A new play ground for politicians and a new incentive for the mangster (manager + gangster) to start
getting system relevant.
As we also have learned with Greece, the bail-out are not to help the Greek but to help banks and insurances and pension fonds. So yeah it seems we do
not just have system relevant banks but system relevant insurers. So why stop here? I guess sooner or later we’ll get system relevant car manufacturers.
And quite a few more, till we all are system relevant but could not be “bailed”-out any more. Gods moves may be mysterious but the way of our
good-doers are very obvious. Poverty for all with the double-speak saying “wealth for all”.
Well the longer the crises lasts, the more obvious it gets. Our banking-system is a sham. It allows banks to
generate money out of nothing and even worse it allows defraud on the banking customers.
You don’t believe me. Well then let me ask you just one question. I fyou are holding sight deposits, will banks lend them?
Yes they will that means they are lending money which is not their own. And this means also if every holder wants to get his/her sight deposits, the bank will be bankrupt (bank runs)
And does government anything against this defraud? No it is supported and backed up by them and so we get “gurantiees” on our sight deposits. but not fully oh no, just around 100 000 whatever.
That means if you are holding 200 000 in sigh deposits the guarantee is just well half of YOUR money. That’s a crime
And banks do not have to care for customers, they just have to care about central banks. And guess what central banks do. They just generate another round of money out of the blue.
Or do you think the 1 trillion of new debts here in Europe are covered by anything? Well think again.
Overall this system is fubar. One can not expect it to work and it is unfair from the ground up. You can not build trust on such kind of ground. But hey, the deledefs know better and you just have to believe them…
For me it’s more likely to imagine hell freezes over but believing any deldef or central banker….
Well as we all have learned from our deledefs. There is no inflation. So well yes, that’s what they told and tell us. The FED still is printing money like mad but that’s not inflation that’s QE.
Anyway have you checked your personal inflation rate? What were your findings?
We’ve q big taboo zone here. The government does not even try to calculate a inflation rate. They even manipulate the data and differentiate between core inflation and other inflation. Guess what
food and fuel is not included in the core inflation. They have their reasons for that, because taking that into account would raise the inflation considerably. And you know it can’t be what should not be. So you do not have inflation. In other words, they lie at you again with a straight face, and giving you the impression of being a mad men. Well fact is they are liars and cowards. One does not know what’s worse but they really
want to tell you: “You are stupid and we have everything under control” The have not.
Fact is the manipulation of inflation rates and unemployment rates have nothing to do with reality any more. It’s data which they think they can give us without us freaking out. But in the end it’s just another big lie on their dung heap of lies. Again I ask you why do you still believe them and are still voting for them? Can’t you stand the truth or are happy to be lied at? I just suggest you keep book of your expenses for a two years and then you can see how much they lie to you. Maybe it’s time to concentrate of the constitution, there gold and money are used interchangeable. That’s the right thing, that you get your deledefs away with their fiat-money is your biggest mistake. Don’t you think it’s time to leave this mistake behind?
The only way to get rid of those liars is not vote for them but anyone else. I propose you look after a liberal one. With record of it’s liberalism. And do not forget. He/she should support “end the fed”. Without sound money you will not have the slightest chance of recovery. It just means some take from your without any service in return. Don’t believe them they give back, it’s just another lie.
I guess it’s nothing new for someone having read Hayeks (“The road o serfdom”)
In a hard fight to get into it: Europe and the US. The current newest strike comes from Europe. The “politicians” name it “fiscal union”. It does not mean more or less
that national parliaments can (and must be?) supervised by some european well not parliament. It’s not spoken about it, but well some eurocrats. It seems the preferred solutions
are the chiefs of the countries without a way that they could be voted for. (Well very indirectly through some votes in the diverse countries)
But what is a vote good for if the laws are changeable without a way that one can ask for the responsibilities of the voted? I don’t know. But Hayek had known. He explains the road to serfdom and one
could think it was a blue print for the current political ways. Too many in Europa and US are not “supported” by government and so it’s not talked any more about expenses. They are caling it rights.
Rights for this, rights for that, But in the end it means. Everything of you properties belongs to the government and it’d decided there whose deserves what support. And it means stealing from those
still being able to work and support themselves. But what freedom it is if you know, the harder I’l the more will get stolen?
You can read this blog right from the start, and you’d see the patterns and warnings. By every mean we’re fubar. You must look outside Europe or the US to find a somewhat less influential government. I’m afraid there are just a handful of countries left in which property rights are “enforced”….
Well it has come as I expected more than once.
Now the next German Solar supplier will probably go bankrupt. And what did I post yesterday? Which itself was quire some “old” stuff? And
burning money what did I calculated there.
It’s depressing to see your money (yes I’m one of those still paying taxes) burned that way. Now if I would have invest my money with German Solar panels suppliers and started with this investment just 6 years
ago and would have held till today I would have lost > 97% with each. Very sustainable. Now I do have done that and still I have to pay for the panels on the roofs. But as you also know I placed some extra on my roof also I mentioned it
How to maximize damage to states
I hate to say it, but it’s kind of war time its defending one’s one property against theft, robbery, and black mailing. On the other side are the states and their workers.. It’s a shame.
dear reader. I guess it’s not a suprise to you that I want money as value and not money as debt.
The outooks are getting more devastating every day. And the “solutions” suggested are the same wrong things we’re doing since we abolished money as value.
In fact the inflation/deflation do not change as usual. It’s just more more more inflation. That can’t be a suprise because money printing is the solution to everything since ages.
If you consider it it’s just voodo. Printing money is absolutely effortless indeed if you add a 0 to a 100 note you suddenly are 10 times reacher (on paper) but nothing was produced for it and no-one has
spend any serious work on it. In money as value currencies it is impossible to just printt things. If the note says, you can go to any bank and get xy gram of whatever, this money is backed up and can not
be inflated just by appending a zero to it. In fact you “must” know that you have this xy gram of whatever somewhere. Either youi saved it or in the case of banks their customers have saved it and ALLOW the bank
to lend i. Yes even there we can not know what investments will be fruitful. But in the old system it simply does not matter. The money is printed “before” something was produced.
That means also, those having this money first seem to be richer then they really are. So they can buy more for nothing in reality. This is the first time the big debtors gain. Now the biggest debtors world-wide are the
states, and the states can force anyone to use their money on the land they rule. This is the first time savers get duped. But that is not all the money out of nothing drives up the demand. And at the end of the chain, those getting this money at last, find that he can not buy as much for this money as some years before. And this is the second but not last time the saver is duped.
The deception goes on with the following. The big debtors not just do print money they are issuing bonds also, and they have to pay interest on those bonds. Here again the states are the highest issuers of bonds, and now another deception takes place. The buyers of bonds can not print money out of nothing, they have to save the money that they can invest. (just remember this money, most often has start is existence out of the blue). Then they have to pay “saved money” for the bonds. During the runtime of the bonds the earned interests are taxed. So real saved money is paid some day in the past, the interest is partly stolen by taxes and the money is inflated and at the end of the runtime the 100 CU are just worth 80 CU or even less.
This money is not a unit for paying and saving every cent is just a lie. Franklin just looks on you and is smiling. He would have got it how you are duped. So you can protest against bank and big business as you like, but as long as you do not protest against the money monopoly and the fiat-money system. You just want to change the system that you are master and not slave any more. Occupy Wallstreet does not have understand this and therefor it’s just another master trying to get some slaves.
So there’s but one candidate which asks for sound money for ages (at least 30 years) and there’s but one way to get our of slavery. Abolish the Fed, take away the money monoply from the state and demand that the currency is backed by values… It’s high time to day goodbye to fiat-money. The longer you way the more brutal the awakening. So again
Say goodbye to the fed and good-by paper money.
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.
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…..
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….
Now after Greece let’s have a look at France.
I now work for more then 10 years with a french programmer. And he’s self employed. (but won’t be that much longer we will retire).
The french government does act as the the sun’s king times. The last attack was that one has to pay for the gains one have while selling houses.
Well of course inflation is not taken into account but even worse, the tax should apply to any bough house (even in the past)
So of you’d bought a house 10 years or so ago. And you would sell with a gain theese days, you won’t have to pay any tax, well that was the law as you bought that house.
Now this does not hold any longer? That’s brutal and disappropriation. Old contracts suddenly do not hold any more?
Another big problem the state has pension obligations and even self-employed have to pay for it. As in other countries this obligations habe to be met wit the current income. There was no
accruals for it. And well this means there is a big bureacracy in which everyone has to pay in. The buraucrats have to be paid and well maybe you get some money back. However it’s getting less and less likely that they stick to these obligations.
Another point one just earns below the minimum wage in France if the gross income month is 2500 €. So well that is quite a lot of money IMHO, but you’ll have to pay all the government and also a tax consultants because it’s the law that every self-employeed has to be controlled. Well yes the money is gone for “nothing”..You can see the elits of France in the form of MMe Lagarde. So you can see, from there one can not expect anything.
According to some figures one quarter of all under 25 are unemploye in france. That’s too much, and this will raise the possibility of violence massivly. You can see the laws in France do prevent earning an honest income for a free living. That means France is as much messed up as Greece. France will not be able to bear much more safety chutes costs. AFAIK they decided for a new “credit” facility named ESM which will just send us down the drain faster.
So currently I’d think the risks for a bankrupt are roughly in that order:
1) Greece (they are bankrupt)
2) Italy (
3) France, Spain
I guess Germany will fall short after either Italy or France…. In fact it seems the ponzi scheme comes to an end. I do not think it will took much more than a decade to probably the biggest fall in history.
I think I will have to adjust my predictions or add a few other points to it.
All in all one can say devastating….
Saving the delebets way does not mean cut one’s expenses but highering ones income. Now this time it Italy.
A higher tax for the rich, a higher tax on capital gains etc, but not mentioning cutting down the expenses FIRST.
I guess that’s what GDP related debt mens. All you property belong to use. We just decide when and where we take it.
Another astonishing development. Forbidding free trade, you think that some stock are to high and do start selling them, empty. It’s now forbidden in three or so countries here in EUR land. France, Italy, Spain. Remarkable? Not really that are those which most distruste. As I’ve seen yesterday even buying Puts short should be forbidden. That means you can not express your opinion that markets are too high. And that will surely help. It will make everyone feel much better. Or not?
It fits very nicely to my predictions that the worse the state of affairs get, the more the delebets will try to “steer” control. The delebets do know they are wrong-doers but they would never admit it. So they are looking for scape-goats and there they are speculants…..
So one can see the usual lies are not langer sufficient, now they introduce some newer ones. BPOHs
Now dear Readers, if you think there must be an end to ignorance and deception. You have to read the following:
One can see they are absolutely clueless and can’t help but trying to prolong the suffering of a complete and without doubt unsustainable way.
With that Bernanke has now proofed he’s an even bigger defrauder than Greenspan. What will he do if the inflation starts galopping. The prices for food and fuel are nearly running. (Well it’s get a bit better because of the fear of a recession). Anyway they do it again and again and again, making money cheaper and cheaper just to keep this big ponzi-scheme running a bit longer.
We now have negative interest and it’s getting worse. They probably will futher buy securities etc. and printing money..
I always thought some sanity and knowledge must be present even with central bankers, but they’ve prooved me wrong. They are clueless and just panicking. The actions will accelerate the “Untergang”.
Finally and it serves the US right, Especially Mr Yes-we-can president Obama.
The USA have lost their highest credit-ranking. It would have been better they would have been downgraded some 3 years ago. But better late than never.
14 Trillion (extended to 16 trillions (official debts) is way beyond any reason. And it’s the highest in times of peace. Well maybe the military adventures of the US
do not deserve to be named peace. Anyway there is not declared war but war on terrorism. With all it’s “magnificence”.
The US should see that debt is the start of the end. And their debt toll is way too much. There should be never any debt for governments. It just means they live without their financial bounds, and they deserve to suffer from it as any other “company”. No state does not deserve this special treatement and it just shows among the equal or some “more” equal.
Fortunatly the markets start to realize the mess the states are in. That’s really overdue. But again better late than never.
On just can hope that the US will have to pay higher interests also. The current money burning from the FED is also beyond any reason, and it serves them well that the markets realize that they are running the biggest ponzi-scheme ever. I hope the US citiizens vote for Ron Paul in 2012, but well I guess the big “business” firms and military complex of the US will support someone like Obama who gives them access to any purse. Nice to see the reactions of the bureaucrats, “unfair”, well no.. “well deserved”.
Just can say US citizens you will have choice next year. I’d suggest that you give Obama what he deserves, “go out of our ways”. That’s the best message I could imagine…
Well the debt ceiling will be rissen (at least as much as not to bother Mr Obama for his next selection)
Who could expect anything else? That anyone would really say, without me, and I’ll do all I can to stop the debt making of the government?
Just thing the politicians do not care that much about anything but getting re-elected. If they would bear the consequences they, might see getting the US in a harsh recession. And that’s never good for getting reelected. And so they go the way of the least resistance. The swear, they just do it for the best of the US. And maybe they are “believing” it. (which makes them so dangerous)
But even if the would not officially higher the debt ceiling, how could anyone believe it would stop deb making. There always will be a way for government to “generate” money out of thin air and or steal it from their population. I did not have hesitated a second that they find some way. And it seems they are raising the ceiling in 2 steps 900 Billions immediately and a another trllion a little later this year. Now how serious will they be to avoid new debt while having “new” credit of 2 trillions?
I wrote before the US could do us all a favour, making us believe they are going to change anything. This is so fucking dishonest….