September 18, 2020 
 Friday 
 
 

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Miscellaneous

       

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 By bluejay

10/07/2013  8:13AM

From Martin Armstrong:

The Pension Crisis is far different from the Mortgage Crisis. Now we are fooling around with the very issue that even destroyed the Roman Empire. Only a moron would promise pensions to state workers and then expect that they can just tax people forever so there was no need to actually fund such things. We are looking at state and municipal bankruptcies like Detroit where 50% of tax revenue was going to pensions. They keep raising taxes because they also refuse to reform or reduce the size of government. This causes a Phase Transition in the cost of government. We are going to see taxes soar in the USA to the point they will most likely DOUBLE. This will drive more and more capital underground, reduce LIQUIDITY future that is the destruction of a cooperative civilization, and this will further reduce the VELOCITY of money. This is how ALL empires, nations, and city states have died – by their own hand.
 By KARTHIKG

10/04/2013  11:25PM

For better real-time data acquisition from the ground monitoring devices, gas sensors, equipments used in the Underground Mines, and most importantly for locating the trapped miner, the deployment of Wireless Sensor Networks (WSN) is very much indispensable. The traditional methods using wire communication was found to be inefficient and ineffective at the time of mine hazards such as roof falls, side falls etc... Before implementing any wireless system, the variable path loss indices that imply the losses of signal in different environment should be determined for better localization. Localization of low cost sensor nodes using Receiver Signal Strength Indication (RSSI) model gives some error due to the shadow fading of signal.
 By bluejay

09/26/2013  6:23PM

Posted on September 26, 2013 by Martin Armstrong


I reported that the object of the IRS is now to regulate accountants doing your taxes. The real idea is to expand the Draconian measures that any foreign bank that does not report what Americans are doing will be subject to have their assets confiscated in the USA. This has resulted in throwing out Americans from especially Europe. Now the IRS is seeking to impose regulations on accountants and then they will impose an obligation that they will also be required to report anything to the IRS. Barclays Plc has announced that it will cease offering wealth management services in about 130 countries by 2016.

What is entirely possible is the Sovereign Debt Crisis could be pushed off into the next 8.6 years wave insofar as the USA is concerned. The current wave may see the crisis in Pension Funds hit and we may then see the confiscation of all 401Ks as well 2017. This will be seen as a measure to regain national security by buying back bonds held by foreign governments. That way, if the US wants to invade someone, it will no longer have to worry about how to fund the debt.
 By bluejay

09/15/2013  9:29AM

California – Tax Man Cometh – As Always Their Mistake You Still Pay

Posted on September 15, 2013 by Martin Armstrong


California small business owners and investors are facing $120 million in back taxes after a 20-year-old tax exemption was struck down by an appeals court last year. That’s right. Government always wins. They make a mistake, and you still pay. We would be better off with the Mafia in charge – at least you can negotiate with reason.

Since 1993, California provided that you paid only half of the capital-gains taxes due on sales of stock in businesses with less than $50 million in gross assets. The hitch was that the business must keep at least 80 percent of payroll costs and assets in the state. In August 2012 the tax exemption was ruled unconstitutional ob the basis it interfered with interstate commerce. That was about as rational as a metal patient on drugs. If the court ruled it denied equal protection in the sense of “justice for all” I would agree with the decision. But to claim it interfered with interstate commerce by trying to keep people in the state with incentives is nonsense. New Jersey has an EXIT tax. You leave, and they want more taxes. That will never be ruled unconstitutional because the Supreme Court has held taxing powers are unlimited in a fundamental sense – nobody in government ever met a tax they did not like to suppress others with.

As always, in comes the bureaucrat looking to get even with those in the private sector for having talent they lack and money they get only by taking bribes. These are typically the people who were stuffed in gym-lockers in high school and it is pay-back time for them. They hate people who make money – look at one in the eyes. You see hatred paired with stupidity.

Faster than a speeding bullet, the state’s Franchise Tax Board was signaling plans to collect retroactive taxes dating back to 2008 from more than 2,000 small businesses licking their chops for an expected take of $120 million. The small business owners screamed and turned to seek a legislative solution. In February state tax collectors offered to hold-off on issuing tax summons that would not down include interest and penalties provided they signed waivers extending the statute of limitations so they could go after them later. The state Senate passed a bill that reduced the total amount of retroactive tax due by only 76%. So you see, the bastards just cannot keep their hands out of other people’s pockets.
 By bluejay

09/09/2013  10:23PM

The USA cannot grasp that this unilateral attack on Syria will set in motion the next stage of the Sovereign Debt Crisis that will ultimately lead to your pensions being confiscated when they cannot sell their debt to foreign governments.

Martin Armstrong
 By cw3343

09/09/2013  4:11PM

per the post below - also note what Poland is doing with private pensions. They are calling it "reform". What a joke...
 By bluejay

09/07/2013  7:58AM

Something you should know.

The G-20 summit has made a major decision that will enable the DEFLATIONARY destruction of the World Economy and life as we knew it. From here on out, the control of all data being collected internationally (including NSA) regarding the wealth of citizens worldwide, will be made available to every member state.Under the cover of terrorism, there is no profit in stopping terrorists. It is all about using them to further power. They are arming and funding terrorist organization in Syria. But if they turn those weapon against the USA, it will get more power.

Ostensibly, this is all about tax evasion in their mind for if they had everything there would be no budget crisis. Indeed, it is important that the community of G20 nations will assume complete control of the financial circumstances of each individual citizen. The summit marks a milestone on the road to full expropriation of citizens. The end is here. This is going to be the worse economic decline in modern history. They are hunting money everywhere and cannot see that they are shrinking the world economy and that means higher unemployment.

Martin Armstrong 9/07/13
 By bluejay

08/30/2013  7:32AM

U.S. gold production down from January-May - USGS
The U.S. Geological Survey reports that May 2013 was the eighth consecutive month for gold price declines.


Author: Dorothy Kosich
Posted: Friday , 30 Aug 2013
RENO (MINEWEB) -

U.S. gold production dropped 4% in the first five months of this year, the U.S. Geological Survey said Thursday in its Mineral Industry Surveys gold report.

Total domestic gold production for the period from January through May 2013 was 89,200 kilograms (2,867,846 troy ounces). The state of Nevada led U.S. gold output with 64,900 kilograms (2,057,647 ozs) of production, followed by Alaska gold mining at 12,500 kilograms (401,884 ozs) and other states at 11,800 kilograms (379,378 ozs).

However, May 2013 production of gold by U.S. mines dropped 5% to 18,000 kilograms (607,649 ozs) compared with May 2012 with 18,900 kilograms (607,649 ozs) of gold output, the USGS reported. Average daily gold production for U.S. mines was 582 kg (18,711ozs) in May 2013, down from 609 kg (19,079 ozs) in May 2012.

In their analysis, the USGS noted that May was the eighth consecutive month that the average gold price decreased.

Some domestic gold mining companies announced reductions in production in May including Atna Resources, which deferred ramp up of the Pinson underground mining operation near Winnemucca, Nevada. Allied Nevada announced that it was considering scaling back development plans at its Hycroft Mine also near Winnemucca.
 By bluejay

08/19/2013  9:57AM

Politicians are clueless and their policies are more like strip-mining. They are destroying the economy right down to the foundation and fail to grasp that they keep raising taxes to support unfunded liabilities for state workers. This is destroying the productive sector of the economy to fund the sector that produces nothing to increase the national wealth.

Martin Armstrong
 By bluejay

08/02/2013  7:48AM

The Major U.S. Banks Are Financial Hoods

Jim Sinclair’s Commentary(http://www.jsmineset.com)

The most endangered species on the planet is the pensioner and to become a pensioner.

Banksters help cull the geezers.

Swaps Probe Finds Banks Manipulated Rate at Expense of Retirees
By Matthew Leising – Aug 2, 2013 2:00 AM ET

U.S. investigators have uncovered evidence that banks reaped millions of dollars in trading profits at the expense of companies and pension funds by manipulating a benchmark for interest-rate derivatives.

Recorded telephone calls and e-mails reviewed by the Commodity Futures Trading Commission show that traders at Wall Street banks instructed ICAP Plc brokers in Jersey City, New Jersey, to buy or sell as many interest-rate swaps as necessary to move the benchmark rate, known as ISDAfix, to a predetermined level, according to a person with knowledge of the matter.

By rigging the measure, the banks stood to profit on separate derivatives trades they had with clients who were seeking to hedge against moves in interest rates. Banks sought to change the value of the swaps because the ISDAfix rate sets prices for the other derivatives, which are used by firms from the California Public Employees’ Retirement System to Pacific Investment Management Co., said the person, who asked not to be identified because the details aren’t public.
 By bluejay

07/29/2013  10:48PM

U.S. Gold Mine Output Falls 5% In April – USGS
By Kitco News
Monday July 29, 2013 12:11 PM
(Kitco News) -U.S. gold mine output was 17,600 kilograms in April, the U.S. Geological Survey said Monday.

April output was 5% under March production of 18,500 kgs. April output was also modestly below year-ago production of 17,800 kgs.

The average daily production rate in April was 587 kgs of gold, USGS said. This compares to March’s average daily rate of 596 kgs, the April 2012 average daily rate of 593 kgs, and the 2012 average of 639 kgs.

For more information, see: http://minerals.usgs.gov/minerals/pubs/commodity/gold/mis-201304-gold.pdf
 By bluejay

07/29/2013  3:09PM

Spain Taxing Sunlight
Posted by Martin Armstrong


Spain’s Secretary of State for Energy, Alberto Nadal, has signed a draft royal decree taxing energy derived from photoelectric cells. If they can’t derive taxes from utilities, what the hell – tax the sun. Next comes a tax on clean air to breath to live. They already tax food.
-------------------------------------

Governments are having difficulty coming up with debt payments. All this is heading our way and is just a matter of time before new and expanded taxes become our obligations.

Squeeze the people.
 By bluejay

07/28/2013  9:04PM

http://www.jsmineset.com
 By bluejay

07/28/2013  9:03PM

Jim Sinclair has been warning of a big government money grab coming soon.

Visit his website to get the particulars.
 By bluejay

07/23/2013  8:39AM

People do not appreciate how economic shocks are always followed by economic reforms. The rise in taxes and the global G20 effort to seize everything and imprison people who have offshore accounts was instigated by Hollande of France. At this stage during the government implosion is being caused by those in power who cannot see that they are the PROBLEM. Hollande is typical of someone who has mental disorder found in children known as Oppositional Defiant Disorder whereby they blame others for their own mistakes. This is our general crisis in which we find ourselves. Those in power will destroy the world economy convinced that if they could just get their hands on every piece of wealth, then their faulty ideas would succeed.

Martin Armstrong
 By bluejay

07/22/2013  10:51AM

WWII Shipwreck Gives Up 61 Tons From Atlantic Seabed

By Sonja Elmquist - Jul 22, 2013 8:46 AM MT

Odyssey Marine Exploration Inc. (OMEX), a deep-sea salvage company, said it retrieved more than 61 tons of silver bullion this month from a World War II shipwreck nearly three miles (4.8 kilometers) below the surface of the Atlantic Ocean.
Odyssey recovered 1,574 silver ingots weighing a total of about 1.8 million ounces from the SS Gairsoppa, the Tampa, Florida-based company said in a statement today. The 412-foot (126-meter) British cargo ship was torpedoed by a German U-boat in February 1941, Odyssey said on its website.
Enlarge image

Forty-eight tons of silver bullion has been recovered from the SS Gairsoppa and returned to the British government, Odyssey Marine, Inc. announced on July 18, 2012. The record-breaking operation has so far produced the heaviest and deepest recovery of precious metals from a shipwreck.

Odyssey Marine Exploration Inc. Remotely Operated Vehicle pilots navigate the advanced robotics used to recover silver bars from the SS Gairsoppa shipwreck site, which lies approximately 4,700 meters deep in the North Atlantic, in this handout photo on July 2, 2012. Source: Odyssey Marine Exploration Inc.

Odyssey Marine Exploration Inc. uses advanced robotics to recover silver from the SS Gairsoppa shipwreck site, in this handout photo on July 8, 2012. Source: Odyssey Marine Exploration Inc. via Bloomberg
The metal was worth about $630,000 when the Gairsoppa was sunk and about $36 million at today’s prices. Odyssey has recovered a total of 2,792 ingots from the wreck, about 99 percent of the insured silver reported to be aboard when the vessel sank.

“We have accomplished a world-record recovery at a depth never achieved before,” Odyssey Chief Operating Officer Mark Gordon said in the statement.
 By bluejay

07/20/2013  11:38AM

July 19, 2013 jsmineset.com

I listened carefully to yesterday’s Bernanke speech. He seemed ill at ease and almost stumbling. I truly believe that Bernanke is confused and even frightened by the results of all his manipulations. But what he’s most confused about is the poor results he’s been getting from both the economy and the markets. Bernanke appears to me to be a man trapped and confused by his own unorthodox tactics. Bernanke wanted to be a hero when he stepped in during 2009 to halt the panic in the markets. Now I believe he wishes that he had never tried to turn the markets during 2009. The consequences of his actions turned out to be worse and far more confusing than anything Bernanke imagined.
–Richard Russell July 18, 2013
 By bluejay

07/18/2013  1:20PM

JP Morgan Is Reportedly Getting Ready To Settle For $1 Billion For Manipulating Energy Markets
Steven Perlberg Jul. 17, 2013, 4:41 PM

U.S. regulators and J.P. Morgan Chase are close to a monster settlement over allegations that the banking giant tampered with electricity markets in California and the Midwest, the Wall Street Journal reports.

Ok J.P. Morgan got caught but where are the refunds to California residents?
 By bluejay

07/13/2013  9:29AM

Years ago the media prided itself on reporting and journalism. Today they are puppets for their masters. Don’t forget that if you boil it down, almost 90% of the media is ultimately owned by just 6 major corporations. You get to hear what they want you to hear.

Rob Reiner - The International Forecaster
 By bluejay

07/12/2013  5:39PM

Great News

Posted on July 11, 2013 by Martin Armstrong


There are a group of Senators who want to bring back Glass-Steagall separating commercial banks from investment banks. That was removed by Goldman Sachs’ Robert Rubin under Bill Clinton.

Nevertheless, the Fed is already advising banks that they will not insure losses on the trading side. The Fed has been advising banks they will only cover commercial banking deposits and loans period! Trading losses will be on them.

Glass-Steagall is coming back if they like it or not. The banks are not going to be handed blank checks anymore so the future will be strikingly different.

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