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The surprising reason the government is cracking down on your financial privacy

From Casey Research:

At the latest G-20 meeting, central bankers, finance ministers, and an assortment of other central planners touted what they hoped would be a new “global standard” of the automatic sharing of financial information.

The U.S. has taken the lead with the odious FATCA law, and the EU has followed suit with its own version. Through FATCA and other measures, both governments are aggressively seeking new ways to undermine financial [...]

Check this out– IRS scandal is just the tip of the iceberg

from Sovereign Man:

Some days one can’t help but look at the headlines and think of Ayn Rand.

With all the destructive measures by desperate governments from Cyprus to Argentina, it seems sometimes like we’re reading from the pages of her seminal work, Atlas Shrugged.

But what we’re seeing now seems to have far surpassed Atlas Shrugged. We’re definitely into 1984 territory.

We’ve recently learned that the US federal government has (a) secretly tapped the [...]

Don’t Be Fooled, GDP Growth Was Even Worse than -0.14%

by Phoenix Capital Research

A few weeks ago we commented that the Great Global Rig of 2012 was ending. Yesterday’s GDP print confirms this.

We noted in the second half of 2012 that the US Federal Government was engaging in a massive rig to make the economy look better than it really was in order to help the Obama re-election campaign. This showed up in the jobs data as well as the 3Q12 [...]

STONED IN SEATTLE!

Washington state has become the first in America to allow the recreational use of cannabis, setting up a potential showdown with the US federal government.

In the city of Seattle pro-cannabis campaigners celebrated in a haze at the foot of the Space Needle tower at one minute past midnight, the moment the state’s new law came into effect.

Vivian McPeak, director of Seattle’s annual Hempfest, said: “This is a big day because [...]

“Partial Secession?” By UT, AZ

“A referendum placed on the Nov. 6 ballot by the Legislature would amend the Arizona Constitution to declare sovereign control over air, water, minerals, wildlife and public land including national parks — a move to sidestep federal environmental laws and open up 25 million acres of public space to more livestock grazing, logging and mining…It amounts to a “partial secession,” said Paul Bender, a constitutional law professor at Arizona State University.

“If you want to [...]

Deja 2011 Vu Part 2: Goldman Sees Another US Downgrade In 2013

Two of the three major credit ratings agencies have recently affirmed their outlook on the US sovereign credit rating, and all three continue to hold a negative outlook on the rating. In Goldman’s view there is little likelihood that additional ratings actions will be taken this year, but the possibility of a ratings change is another risk posed by the “fiscal cliff,” debt limit, and related debate over medium-term fiscal reforms [...]

Daniel R. Amerman: Inflation & Hidden Gold Taxation: Three Historical Case Studies

By Daniel R. Amerman, CFA

Overview

The number one reason investors buy gold is to protect against the government policies that create inflation. However, the government has “rigged the game” in such a way that the higher the rate of inflation, the more of a gold investor’s net worth ends up with the government instead of the investor.

An examination of three historical case studies of long-term gold investment during a time of [...]

AMERICA HAS ALREADY BEEN OVERTHROWN,….IT IS TIME TO RESIST THE OCCUPATION!

This country has been invaded and taken over by the international bankers, who then corrupted every aspect of our government.

The US Federal Government is NOT an American gov’t. It is an “ENEMY FORCE IN OCCUPATION” that has camouflaged its overthrow of the US Gov’t.

From the point of view of a Constitutional America,….none of the current events make sense.

From the point of view of an “Enemy Force In Occupation”,……EVERYTHING makes sense.

Their [...]

THE REASON PEOPLE ARE SHOCKED:

Most Americans still don’t get it,…

America has ALREADY been overthrown!

This country has been invaded and taken over by the international bankers, who then corrupted every aspect of our government.

The US Federal Government is NOT an American gov’t. It is an Enemy Force Of Occupation that has camouflaged its overthrow of the US Gov’t.

Their design is simple: Subjucate, extract wealth, exterminate.

This has been the British/International Banksters/Israeli mode of subversive takeover through [...]

Bob Chapman: When Confidence Leaves The System It Could All Come Apart

Less to live on for retirees, US unaware of austerity, Fed leader Bernanke doesnt see real inflation, expect big changes in November at the polls, on that downgrade of US Treasury debt, the US could default one day, could the world monetary system fall apart?

The investment world hasn’t been too excited about “operation twist.” After its announcement the S&P fell more than 14% and worldwide [...]

More trouble for US: China now downgrades its ratings

BEIJING: The world may still be debating the consequences of the US federal government’s decision to raise the country’s debt limit. But China’s State-controlled credit rating agency, Dagong Global Credit Rating Co., has cast the first stone by pushing US rating into negative territory.

The move might mean drastic cut in China’s purchases of US bonds, which will put US borrowings in serious jeopardy. China is [...]

Defaulting to Big Government

Defaulting to Big Government – Simon Johnson – Leading United States congressmen are determined to provoke a showdown with the Obama administration over the federal government’s debt ceiling. These representatives – with whom I’ve interacted at three congressional hearings recently – are convinced that the US federal government is too big relative to the economy, and that drastic measures are needed to bring it under [...]

How to Explain the Current Economic Situation to Friends & Family

by rhare

I’ve been working on way to get across to friends and family how bad the economic situation has become. I find one of the biggest problems is that when numbers are in billions and trillions they are very hard to imagine and people get this glazed/deer in the headlights look. So I decided to try to scale the numbers in a way that can be [...]

2011: We Are On The Verge Of A Muni Bond Crisis

by Phoenix Capital Research

For decades municipal bonds have been considered one of the safest income plays on the planet. If you’re unfamiliar with these investments, municipal bonds or muni bonds as they’re commonly called, are bonds issued by lower tier governments (state, city, or even county) to raise capital for public projects like building a highway, sewer, or what have you.

These bonds are not backed by the Federal government (with [...]

The living standard of all Americans will sharply decline according to Mr. Elmendorf.

Last week Mr. Douglas W. Elmendorf the Director of the Congressional Budget Office testified before the Congressional committee to study the long term budget needs of the US federal government. The committee hearings were broadcast on CSPAN and were quite interesting.

The bullet points of Mr. Elmendorf’s testimony are as follows:

1. The economy is in serious condition and will require massive stimulation for two to four more years. Failure to continue [...]

Peter Schiff: Key Indicators Of A New Depression

Via financialsense:

During Great Depression I, unemployment broke 25%. If government statistics are taken at face value, the current unemployment rate is 9.9%, but a closer look reveals that the broadest measure of unemployment is currently at 20% – and rising. So, today’s numbers are in the same ballpark as the ’30s even though the federal government is using unprecedented measures to keep the economy afloat. Remember, in Great Depression I, [...]

The crisis doesn’t end.

quote
Government and GDP Growth
The US federal government is a growing portion of GDP, thus reported GDP growth is largely a byproduct of government deficit spending and stimulus measures, i.e., reported GDP growth is unsustainable. Total government spending at the local, state and federal levels accounts for as much as 45% of GDP, thus nominal gains would be expected when government deficit spending increases. According to some measures, reported gains in [...]

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