| By
bluejay |
06/18/2013 11:08AM |
Switzerland Show Some Guts At Last
Posted on June 18, 2013 by Armstrong Economics
Legislation that would have ended the Swiss banking laws and handed everything to the USA was defeated in a recent vote. The secrecy laws was put in place in 1934 to protect the Jews and Germans from Hitler who attempted the same thing making it criminal for a German to have an offshore account. The Sovereign Debt Crisis cannot be solved by even raising taxes to 120%. The politicians are desperate to hold on to power and cannot see their own destruction of the world economy is taking place because of their greed and corruption.
http://m.europe.wsj.com/articles/a/SB10001424127887324021104578552930613288170?mg=reno64-wsj |
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| By
bluejay |
06/18/2013 10:18AM |
How the politicians are destroying the world economy.
http://armstrongeconomics.com/2013/06/18/icij-has-done-far-more-damage-to-the-world-economy-that-anyone-realized/ |
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| By
bluejay |
06/17/2013 9:30AM |
Just what we need. NOT!
The G8 this week is looking to regulate mining with new laws.
"These G8 partnerships will also stress “introducing stronger legal frameworks to regulate the extractives sector by introducing new laws that make EITI standards a legal requirement,” said the PM’s office." |
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| By
bluejay |
06/16/2013 9:07AM |
| No public borrowing and no career politicians. Virtually every department should be privatized to prevent state pensions. Those in government just cannot keep their fingers out of other people’s pockets – impossible! This is behind everything from the NSA to Homeland Security. Instead of reform, they are digging in their heels to defend their right to exploit your money. Government is NOT society. They are two distinct entities. |
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| By
bluejay |
06/15/2013 10:33AM |
| “The more corrupt the state, the more numerous the laws.” Tacitus, 56 AD–117 AD |
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| By
bluejay |
06/15/2013 9:43AM |
The city of Detroit defaulted on $2.5 billion of its outstanding debt. The creditors are getting what they deserve. He who lends to government depends on the exploitation of the people to get repaid. The city’s retired city workers were also warned that significant cuts in pensions and health insurance would take place. This is the problem all governments face. They promised the moon. Then when those workers retired, they had to be replaced. The cost of government is rising exponentially and this causes higher taxes and it becomes a dog chasing its own tail. There is NO way out but collapse. The economic model upon which government has been designed post-WWII is simply braindead. Dumb and Dumber could have done a better job.
The size of government escalates and this creates a deflationary vortex through which the economy is sucked dry. There is no surviving this crisis. Politicians are desperate to cling to power so they buy tanks and guns to defend against the inevitable.
Martin Armstrong |
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| By
bluejay |
06/14/2013 6:49AM |
Too many regulators?
Claimed sand and gravel operation near Placerville levied $11 million in fines
for, according to the State and county, for violations in operating a gold mine.
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=194226&sn=Detail |
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| By
bluejay |
06/13/2013 10:53AM |
California on the Brink: Pension Crisis About to Get Worse
By Elizabeth MacDonald
Published June 12, 2013
A growing number of key California cities are a lot worse off than previously thought, thanks to new changes coming in the way state and local governments must account for their pension costs.
The pension changes from Moody’s, and separately the Governmental Accounting Standards Board, scheduled for this month, could result in Los Angeles, San Francisco, San Jose, Azusa and Inglewood joining fiscally troubled Stockton and San Bernardino, among others, as severe credit risks. It’s all largely due to soaring employee retirement costs, according to new analysis based on the methodology by Bob Williams and his team at State Budget Solution (SBS), a non-partisan organization that studies state budget crises.
The new rules could nearly double California’s unfunded liabilities to $328.6 billion. Moreover, California cities that have already filed for bankruptcy protection, like Stockton and Vallejo, will fall deeper into the red.
Officials in these California cities did not return calls for |
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| By
bluejay |
06/11/2013 7:15AM |
Paranoid or Conservative
Posted on June 11, 2013 by Armstrong Economics
Securing Phone Calls and Emails should no longer be for the paranoid, but good old fashion conservative business & personal practices as long as people like Feinstein pretend to represent people instead of the government institution. We have no control over her. She was sent to do “God’s Work” like Goldman Sachs.
The problem is who is their “GOD”? It sure is not the one that says treat everyone as yourself and “thous shalt not covert thy neighbor’s goods” since that is all they are ever after.
You should talk to anyone who grew up in East Germany. When the government fell, their files on everyone came out. They threatened everyone just as the USA threatens newspapers and Google – do as we direct or else. People then renovated their apartments. What they discovered were hidden microphones in everyone’s apartment. The NSA along with Feinstein and her thugs, are acting EXACTLY as in George Orwell’s 1984 where there was a picture frame in every house that monitored what they were doing. God help us, a terrorist might come over for dinner.
What is going on down there is typical. They make a lot of noise, but expect it to blow over and everyone will forget in a few weeks as usual. Most do not take this serious and Feinstein defends her spying on everyone to her dying breath. She should resign !!!!! She is a disgrace to all the people who died for this country to defend the constitution she swept away. How can you ask people to lay down their lives to defend what people like her do not respect? She is a international disgrace.
This achieve is massive. They can call up anything on any individual exactly like the Stassi. There is no difference. |
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| By
bluejay |
06/10/2013 6:31AM |
Government is in your house.
http://armstrongeconomics.com/2013/06/09/it-took-the-british-press-to-defend-the-us-constitution/ |
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| By
bluejay |
06/09/2013 9:06AM |
Check out the most recent article written by Martin Armstrong in the linked section below.:
http://armstrongeconomics.com/2013/06/ |
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| By
bluejay |
06/04/2013 9:28AM |
How does this sound to you? It sounds good to me. This morning's thoughts from Martin Armstrong:
Since money is electronic and nearly 40% of government exists to extort money from the public to sustain itself, the solution can only be total reform. We must eliminate income tax, reduce the size of government dramatically as a result, collapse all regulation of any industry into a single agency, privatize virtually everything so it is far better to have private companies bidding for the job where their workers must perform and live like the rest of us without special exemptions, eliminate career politicians by creating one-term one-time one-year intervals where people from the private sector actually oversea government, no major spending or program without a real democratic vote – no representatives, do all of this and we will eliminate most lobbying and corruption since the bulk of that is for taxation. |
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| By
bluejay |
06/02/2013 12:58PM |
Concerning the conspiracy to create a world order, Martin Armstrong gives us his opinion:
I have said this many times. This is just gibberish. Yes those in government try to manipulate society and the economy. They are fools and it always fails. What we face is far worse than some sinister group in absolute control. This is out of control and we are in the back seat of a car driven by a Kangaroo. There is nobody in control. They do not even comprehend how to control what they cannot understand.
I have always stood up for what is right. I would be the first screaming if there was some sinister group in control. Sorry – there is none. We are not only on our own, but we have nobody to even lead us in the right direction. We get what we vote for. |
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| By
bluejay |
06/01/2013 10:21AM |
Big banks being allowed to write their own ticket while Congress does what it does best, not much. 2016 should be the year of voter rebellion with growing numbers of American showing their frustration by voting against the two-party system.
From today's International Forecaster:
Big Banks Still Write the Rules: Fmr. Inspector General of Bank Bailout
By Lauren Lyster
Former Federal Reserve Chairman Paul A. Volcker has announced he’s taking on the public’s eroding faith in government with a new foundation called the Volcker Alliance. He’s set to address an audience today in New York on the challenges facing regulatory reform, including how slowly Washington has moved on putting Dodd-Frank financial reform into effect.
The New York Times recently reported Citigroup’s (C) input was reflected in more than 70 lines of an 85-line bill that sailed through the House Financial Services Committee this month. The bill would exempt broad swathes of derivatives trades from new regulation. Two key paragraphs, according to the Times, prepared by Citigroup together with other Wall Street banks, were copied almost word for word.
http://finance.yahoo.com/blogs/daily-ticker/big-banks-still-write-rules-fmr-inspector-general-131105952.html?=vp1
Enough Is Enough |
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| By
bluejay |
05/31/2013 7:50PM |
Outrageous is what I have to say. The Patriot Act that our blind representatives couldn't read but signed anyway? The Sixteen to One has no such requirements to buy our shares.
A question is, when does all this squeezing the people stop?
Some brokerage firms really suck. As an example, my daughter was holding shares of a US company that took over a Canadian one which she originally put her money in. When it came time for her to sell the US company she put in a market order. The report that she received was from the pink sheets, not the American Stock Exchange where the US company was listed.
Strange? Very, very strange. She went back to the broker and checked the price as it was 30 cents lower than the American's last sale when the currency exchange was at par, meaning 1 US dollar buys exactly 1 Canadian dollar. She was told since she bought the shares in converted Canadian funds from US funds then they have to be sold in Canadian funds to be transferred back into US dollars. What a pile of meadow muffins. Remember she was selling a US security in the United States and expecting funds in US dollars. That brokerage firm had a real big software problem. She complained and the reviewing regulators said the brokerage firms acted in good faith. Of course, she got really hosed in the Pink Sheets which the regulators said was the best market in town at the time. Total BS.
She wrote a letter of protest to a congressman and never heard back. The commercial banks affiliated with brokerage firms are stealing from America but no one seems to care. We are all way over regulated by buffoons.
To prove this point, let's take another simple transaction. I buy a gold coin in Mexico for Pesos. I return to the US and sell it to a coin dealer. Does he ask me in what type of currency it was acquired with, of course not.
What do we need a stock exchange for, it used to be a convenience. Now we have the Internet and PayPal. Try putting up a bid for your shares on Craig's list, see what happens. I bet if you make a transaction from a holder of physical stock no one will ask you for anything but the money. The shares can easily have their names changed at the transfer agent. Or better yet, just give Rae a call and she'll help you with a purchase of our shares. At least you and your wife won't be frisked here. |
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| By
fredmcain |
05/28/2013 1:50PM |
Another thing I came across on the Patriot Act, a year or so ago I tried to open a new brokerage account at Vanguard for my wife and me.
They told me they would not do it unless I had a good copy of her SS card, a photo I.D. and at least one other source of I.D.
I couldn't believe it! I NEVER needed that kind of stuff to open a new account before. They apologized but told me they had to have it. They blamed it on the "Patriot Act". I asked them why they just needed it for my wife and not for me and they weren't really able to answer that.
In the end, we did not open the account. I thought PHOOEY! That's too much trouble for what I was trying to do!
Go figure.
Regards,
Fred M. Cain |
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| By
bluejay |
05/26/2013 2:25PM |
| It was the 911 Attack that swept in the Patriot Act and now any bank wire for $3,000 mut be reported to the government. Pretty soon it will be an ATM withdrawal of $2 or more. Remember Elliot Spritzer who started to go after Wall Street, suddenly his checks were being examined under the terrorist acts but revealed a prostitute. So he was forced to resign. That protected Wall Street bankers. |
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| By
bluejay |
05/17/2013 7:54PM |
Ee have a lot more in common with Rome than meets the eye. The cost of government destroyed Rome. The same problem of UNFUNDED LIABILITIES is precisely what is undermining our future. There could be a resolution, but it will take serious reform and there is just no appetite for that at this time.
Martin Armstrong
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The professional politicians only want their salaries and freebies supported by the
status quo. These people won't do anything creative, like reform, until during a crisis when can't hide from it anymore. What a poor excuse for representatives of the people. |
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| By
bluejay |
05/17/2013 12:13PM |
From Martin Armstrong:
Germany Imposing a Glass-Steagall-Like Act with Teeth
Posted on May 17, 2013 by Armstrong Economics
Germany is drawing a bright line between proprietary trading in banks and customer deposits. They are not merely separating the two, but they imposed criminal sentences for directors of banks and insurance companies if they fail to fulfill their supervisory duties in risk management or contravene an array of banking supervision.
Germany will at least prosecute the bankers, unlike the United States. Obama’s green-light policy that has protected the New York bankers is starting to filter around in Washington and the bankers should be worried that they may not be able to buy off the prosecutors again after 2015.75.
The tide is starting to turn largely because the NY bankers have sent the entire world into chaos for their irresponsibility trading with other people’s money. When the economy turns down again, this time the heads may roll.
http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&eotf=1&u=http://www.n-tv.de/wirtschaft/Deutschland-spaltet-seine-Banken-article10663041.htmlhttp://www.n-tv.de/wirtschaft/Deutschland-spaltet-seine-Banken-article10663041.html |
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| By
bluejay |
05/14/2013 10:52AM |
How safe are our government pensions?
This is what was done to Japanese pension holders in 1989.
The biggest fund in the world was the Japanese Postal Savings Fund in 1989. When we were called in to create a hedging program about 6 months before the high, it was Japanese Ministry of Finance who picked up the phone and asked that they did not do that for if they sold, they would make the Nikkei go down. The portfolio was US$1.2 trillion. No individual fund ever reached that level again. The hedge was not put on and the fund lost untold amounts of money. By 1999, I stood up in our Tokyo seminar and announced that that fund was insolvent. The government used that fund to try to support the markets until nothing was left and redemption became liabilities of government.
Martin Armstrong |
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