Europe Plans the Confiscation of Depositor Assets
There really is no other word for politicians but brain-dead. They cannot understand that what they are doing is the destruction of the economy. They created the bank instability by failing to create a national debt for reserves. Then the banks have to keep sovereign debt as reserves of all members and then they default.
There is simply no other word to describe these people who are just totally insane. They are turning Europe into a black hole from which there will be no economic growth for decades. Revolution will not be far behind.
IRS Wants Everything
I retired from the gold business because I was one of the biggest market makers – one of the top 3 for the 1980 event. The IRS walked in and said that their interpretation was that I was a bank and had to report every person who bought or sold $10,000 or more and that the fine was $50,000 per transaction up to the full amount. They said they realized I did not know I was a “bank” since I did not take deposits, give loans, nor applied for such a license. They would “overlook” the fines if I granted them access to my records. My lawyers said I would never be able to stop them. They came in and setup shop in our office. When I walked by and saw they were taking names of people for just $3,000, they told me to keep my mouth shut if I did not want any problems. The next day they pulled up with trucks and removed all my records for years. I decided to retire. I did not like being a quasi-bank without having a banking license.
What they have done with the conservative groups is the same thing. It is not the group being audited, they wanted everyone who donated to them. This is what they did to me. It was not me being audited. Personally I did not owe a dime. It was my clients. Who knows what will be done to the donors today. I can say I was told they audited over 3,000 of my clients by their own admission.
We simply MUST eliminate the income tax. We will NEVER be free unless we do so.
The Market Update
The Dow keeps pressing higher as the talking heads keep questioning why. Gold presses lower and Gold is below the 1400 level. A closing below 1402.50 on June today for gold will keep it vulnerable to the downside. If we get to retest the 1321 area, that will be extremely bearish and warn that new lows are likely ahead. A closing in silver on the May below 22.80 will also be bearish. In the Euro, support in the cash market is starting to give way. A closing below the 127.50 level may lead to a test of the 122-123 area.
IRS Targeted Liberals Under Bush
It is now being openly talked about that Bush had the IRS target the NAACP and Greenpeace. This is somehow suppose to be justification for Obama. The problem is they ALL do it, and the IRS has been the biggest weapon in history to suppress the freedom of the press. This just illustrates that the problem is systemic. It does not matter if they are Republican or Democrat – turn the lights out and they act the same.
European Recession Getting Far Worse
The economic prospects for Europe are impossible to return to any real recovery. We are looking at a long-depression for Europe that will not bottom for 23-26 years from the 2007 peak making this turn only with the end of the current Private Wave in 2032.95.
German politicians cannot grasp that imposing austerity that has led to hunting down the “rich” is not foreclosing any future job growth in Europe and is reducing the market for their own production. Without Europe to sell their goods, Germany will also collapse into a deep recession. It is hard to imagine why politicians are mentally so challenged. Their self-interests and taste for power prevents them from ever seeing a solution that involves themselves.
Why Understanding is Critical
Understanding that there is no grand conspiracy to systemically suppress gold is actually vital as is to understand the true nature of money. If you do not grasp these points, you cannot move forward. Sun Tzu and his Art of War applies to all confrontations.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself,
you will succumb in every battle”
you will succumb in every battle”
To survive what we are going through takes a keen understanding of the world in which we live. A good car racer is someone who can “feel” all the cars around them and look for the ever so slight signs of a thought to change direction and anticipate the next move. The same can be said about playing chess. If you simply plow ahead without thinking objectively, you will not survive.
You cannot cling to one-dimensional biases. This is how governments collapse. All they can see is their own self-interest desperately trying to hold the reins of power as they are pulled from their bloody hands. Keep an open mind. Observe the world around you. The markets are never wrong. Manipulations are only isolated events within single market. Everything is connected. When it all moves together, it cannot be a manipulation.