Guest Post by Martin Armstrong
I have been pointing out the crisis we face moving forward. The gist of this is the total fiscal mismanagement of government for which we, the people, are always blamed. This hunt for taxes has led down the path of arguments for eliminating currency. While people think Bitcoin is an answer, they do not understand government’s hunt for taxes no less the lack of a true rule of law. The government need only pass a law that anyone who fails to report what they have in Bitcoin is criminal and they get to confiscate all your assets.
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Switzerland has its “wealth tax” which they argue is nothing just 0.02%. However, it requires you to report all assets worldwide. They then know precisely what you have and it is merely one vote away at anytime to raise the tax or impose criminal penalties for failure to report everything. Yet, once Switzerland has that info, under G20 they must share it with all other governments.
We have stood by and watched India cancel all high denomination notes. Try walking around with €500 notes in Europe and they look at you funny or won’t accept them. ATM machines have been reduced in Europe to taking a maximum of €200 in cash at best. This is all th hunt for taxes because government cannot function ethically no less morally.
Now the German Federal Minister of Finance, Wolfgang Schäuble, is proposing to control all large cash transactions claiming this will prevent black money transactions and money laundering. Of course, they see these two issues not as typical crime like drugs, but tax avoidance.
Schäuble is coming up with an alternative for the resistance to eliminating cash is rising globally. He knows he cannot abolish cash. If you cannot eliminate cash, then Schäuble said there should be an upper limit placed on cash transactions, from which cash transactions must be registered and reported to the tax authorities. This is also happening in Europe where you cannot pay for a hotel bill greater than €1000 in France. Schäuble said cash transactions must be registered declaring who are the parties to the transaction on each side to prevent the black money transactions, money laundering and terrorist financing.
It has become painfully obvious that the real winner in the Terrorism War was Osama bin Laden. What this single man did was change the entire world into a hunt for taxes destroying our liberty and right to privacy. He destroyed our liberty like no other invader in history. Osama bin Laden has certainly made the list of the top 10 most influential people in history, but has not surpassed Karl Marx.
Schäuble previously said he was against eliminating cash and imposing ceiling on cash payments as were the French and Italy. Schäuble is joining the ever increase microscope to hunt down citizens for taxes always using Bin Laden as the excuse. Even the IMF recently published a handbook on how the reduction of cash could be implemented as silently as possible. Australia is stalking children going to private schools and has declared “cash is for criminals!”
This trend is only going to end in revolution. Historically, all revolutions are about money.
Super….eventually only $1 Dollar or less transactions will be allowed. Credit Card companies are behind this move. Should work with our bribed members of CONgress.
The prophecies tell us that we will find ourselves in a world where nothing can be bought or sold -including your labor- except for those that have accepted and joined the system.
The days of that prophecy being fulfilled are soon at hand.
Mark of the beast. To buy and sell you will need the mark. It is the one thing my father warned me about. He believed it would signal very bad times indeed. We are quite close to needing the mark of the beast to buy and sell.
Action, reaction.
Rise of black markets.
honest labor becomes a thing of the past with each tax, the nation wide strikes approach
wait-what? That’s like uncle sam fining you for not reporting a crime that you know was committed even though you had no involvement in it?? Yes officer, 2 weeks ago I did see a homeless person defecating in public, I’m so sorry I didn’t report it, here I will gladly pay you a fine–
In one (or more?) of the EU states, you are arrested for reporting a Musloid defecating in the street.
And no one dares to call this clown a Nazi?
Pretty soon we will be paying for auto repair with a couple of chickens.
Works for me.
Pretty soon you won’t have an auto to repair. If you’re lucky you might have a few chickens but you better get the coup built before this whole shit show comes tumbling down.
“ATM machines have been reduced in Europe to taking a maximum of €200 in cash at best. “….I withdrew 3 x 1000 Euro in the last few days from an ATM in Germany….
“It has become painfully obvious that the real winner in the Terrorism War was Osama bin Laden”…..what would have Jesus done? The terrorists assumed we would destroy ourselves with a revenge filed response. Maybe the reason Jesus said to turn the other cheek was precisely because a revenge filled response would finish off the victim.
With all due respect to Jesus, don’t turn the cheek to a Muhammadan or cast your pearls before swine of either tribe.
This is merely going to create a large black market, and the actual productive base will be very low. People will literally stop working. Period. I have done just that, and as more and more people realize they are on the losing end of the math, they will do the same. Banning cash, and individual transactions will just push more in to the “underground economy”. Basically, if it requires a bank, it just won’t get done, or done by a rube or party member only. Real people, in rural America will just avoid the whole damn “system”.
Realistically, unless you are a complete rube, nowadays, most people work for the following reasons as it is:
A. They owe large amounts of debt, and must make the monthly “nut”.
B. Need company sponsored health insurance because they have a condition, that if they had to go on the personal market would be instantly bankrupted.
C. Make so much money that they are actually really getting ahead. These people are at best only going to continue being productive only as long as the risk to reward continues going in their favor. Once that ends, they’re done.
For the rest, I suspect there is a large contingent of folks that are simply enjoying their time doing other things, as they discovered a while back that with the combined math of taxes, regulation, inflation etc. they are wasting their time (which is the one resource that cannot be replaced, ever) working for someone, or starting a business in this environment and have simply said no.
As this continues, “real” GDP will become less and less until it even starts to show up in the “statistics”. That is when it is game over. Incidentally, as much as “government” tries to dilute itself in to believing that they can force productivity, the USSR and many other countries throughout history made the same mistake. It is already to the point where most jobs now consist of someone showing up to “pretend to work” and the employer pretends to “pay a good wage”. How long before the employee does not even feel they need to pretend.