Eike Batista’s OGX Files Bankruptcy – End of a Commodity Boom?
The famous Brazilian tycoon Eike Batista’s flagship company has filed for bankruptcy protection. Batista’s oil and gas explorer OGX applied bankruptcy protection (“judicial recovery” in Brazil) after debt restructuring talks collapsed. The debt is about $3.6 billion in bonds out of a total $5.1 billion distressed debts at the company.
This marks the end of Commodity boom. OGX’s demise is Latin America’s largest corporate default in history and it signal the shift in trend. To create the bottom, producers must go bust because that is part of the cycle that reduces supply and is a necessary component to reset the stage for the next performance. This ends the goal that Batista publicly stated he wanted to become the richest person in the world. How the mighty do fall. Hello! It’s a cycle! (see Mining).
The famous Brazilian tycoon Eike Batista’s flagship company has filed for bankruptcy protection. Batista’s oil and gas explorer OGX applied bankruptcy protection (“judicial recovery” in Brazil) after debt restructuring talks collapsed. The debt is about $3.6 billion in bonds out of a total $5.1 billion distressed debts at the company.
This marks the end of Commodity boom. OGX’s demise is Latin America’s largest corporate default in history and it signal the shift in trend. To create the bottom, producers must go bust because that is part of the cycle that reduces supply and is a necessary component to reset the stage for the next performance. This ends the goal that Batista publicly stated he wanted to become the richest person in the world. How the mighty do fall. Hello! It’s a cycle! (see Mining).
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Taxing Unrealized Gains
COMMENT: Hello Martin
The problem with the collectible market in the eyes of a C accountant..
You have this asset and this asset has gone up but the govt has not been able to benefit.
I noticed that in Australia they have this deal where they can make you partially revalue an asset.
So if you have an asset coins / real estate / beans — the tax man says it’s all the same.
We need a partial revaluation ..
I don’t agree with it but this is a new business cost and the large business will thrive. The small business is scr*wed.
ANSWER: In many European nations they have the “wealth tax” where you are taxes on merely owning things from art, coins, real estate, etc. In America, you are not taxes on unrealized gains, but once you are taxed and then lose money the next year, they will only allow a $3,000 deduction. All of this is about shaking down people on a global scale. This is why I have stated that the SOLUTION can only now involve the elimination of taxes and the end of borrowing. There is no rule of law because whatever the tax code may be today, these people will change it tomorrow.
What you must understand is HOW empires, nations, and city states die. It isALWAYS, and without exception, by their own hand. They abuse their power, raise taxes, and hunt people down until then abandon cities and in the case of Rome, then even walked away from real estate.
Those who think BitCoin can survive and Hyperinflation will send gold to $30,000 and you will be unbelievably rich, they fail to say what exists even if that was true. $30,000 gold sounds great. But will a can of coke cost? Everything is relative. It will move together. The image that gold will rise, stocks collapse, and some how you survive, come on – there is no such period in history where that took place.
This is no walk in the park. We are looking at a structural change coming that will test the soul of men, women, and children not to mention the dog.
COMMENT: Hello Martin
The problem with the collectible market in the eyes of a C accountant..
You have this asset and this asset has gone up but the govt has not been able to benefit.
I noticed that in Australia they have this deal where they can make you partially revalue an asset.
So if you have an asset coins / real estate / beans — the tax man says it’s all the same.
We need a partial revaluation ..
I don’t agree with it but this is a new business cost and the large business will thrive. The small business is scr*wed.
ANSWER: In many European nations they have the “wealth tax” where you are taxes on merely owning things from art, coins, real estate, etc. In America, you are not taxes on unrealized gains, but once you are taxed and then lose money the next year, they will only allow a $3,000 deduction. All of this is about shaking down people on a global scale. This is why I have stated that the SOLUTION can only now involve the elimination of taxes and the end of borrowing. There is no rule of law because whatever the tax code may be today, these people will change it tomorrow.
What you must understand is HOW empires, nations, and city states die. It isALWAYS, and without exception, by their own hand. They abuse their power, raise taxes, and hunt people down until then abandon cities and in the case of Rome, then even walked away from real estate.
Those who think BitCoin can survive and Hyperinflation will send gold to $30,000 and you will be unbelievably rich, they fail to say what exists even if that was true. $30,000 gold sounds great. But will a can of coke cost? Everything is relative. It will move together. The image that gold will rise, stocks collapse, and some how you survive, come on – there is no such period in history where that took place.
This is no walk in the park. We are looking at a structural change coming that will test the soul of men, women, and children not to mention the dog.
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France Worried About Revolution?
The French are starting to rise up forcing Hollande to postpone his eco-tax that was due to start on Monday. The new eco-tax would charge a tax on all vehicles over 3.5 tonnes, This will apply to farmers as well. The French economy is being absolutely destroyed – shaken right down to its roots. The French population is under an enormous tax burden and the French farmers have blocked roads over the tax. The sports are shutting down at the end of November and this idea that there is some endless source of tax revenue is purely a fantasy in the mind of communists and socialists. The rising civil unrest in France and Europe in general should force political changed ahead, but not after a lot of pain and chaos.
The French are starting to rise up forcing Hollande to postpone his eco-tax that was due to start on Monday. The new eco-tax would charge a tax on all vehicles over 3.5 tonnes, This will apply to farmers as well. The French economy is being absolutely destroyed – shaken right down to its roots. The French population is under an enormous tax burden and the French farmers have blocked roads over the tax. The sports are shutting down at the end of November and this idea that there is some endless source of tax revenue is purely a fantasy in the mind of communists and socialists. The rising civil unrest in France and Europe in general should force political changed ahead, but not after a lot of pain and chaos.
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Collector’s Market & Gov’t Aggressiveness
QUESTION: In regards to your recent collector’s market comments, are you saying that the collector’s markets that have international backing will perform or outperform other sectors on a return on capital basis? Whereas the domestic collector’s market , like Morgan dollars, will under-perform, if not be crushed by the contracting disposable income (deflation) in the future, as seen in the Italian collector’s market. Also, is it only going to be the high end collectibles that gain value while the common items languish?
ANSWER: The international markets may out-perform domestic markets. But that is by no means a solid forecast. We are trying to put together a pricing model on ancients. We are awaiting catalogs for the last 10 years of price data from auctions.
The Italian market has been devastated – this is true. Not that the coins have fallen in price, but that government is hunting money so aggressively capital has been forced into hibernation. The value of the coins will survive, but the market has collapsed for people cannot conduct business. The Italian government has gone as far as to place tax agents in from of Jewelry stores to monitor who is going in.
Tax audits in Italy are an extortion. It may take even 6 months and during this period they harass you so much, there is no hope of getting out without them demanding something be paid even if nothing is owed. You often cannot even work during an Italian tax audit and business is seriously harmed by the tax authorities. It has degenerated into just nasty socialists working for the government out to cause as much harm as possible to get even that makes them feel better. This is driving unemployment higher and it will be
We are in such a state of complete economic meltdown that is becoming really scary between currency controls preventing personal wires and shrinking global trade. This is why we are making every possible effort to be that lone voice in the wilderness and can use all the help we can get. The collapse of Rome was swift and the majority took place just in 8.6 years for the complete decline.
The international markets are perhaps safer than domestic for the prices will be supported on a broader scale. The Italian market has been destroyed as is the case in France. When tangible assets must go into hiding because the government is out to grab whatever it can, now we are into the mode of Maximinus I who simply declared thatALL wealth in Rome belonged to the state.
We need to spread the word as much as possible that it is government who is NOT the nation and is always opposed to the freedom of the people. Just read Tomas Paine and his Common Sense.
QUESTION: In regards to your recent collector’s market comments, are you saying that the collector’s markets that have international backing will perform or outperform other sectors on a return on capital basis? Whereas the domestic collector’s market , like Morgan dollars, will under-perform, if not be crushed by the contracting disposable income (deflation) in the future, as seen in the Italian collector’s market. Also, is it only going to be the high end collectibles that gain value while the common items languish?
ANSWER: The international markets may out-perform domestic markets. But that is by no means a solid forecast. We are trying to put together a pricing model on ancients. We are awaiting catalogs for the last 10 years of price data from auctions.
The Italian market has been devastated – this is true. Not that the coins have fallen in price, but that government is hunting money so aggressively capital has been forced into hibernation. The value of the coins will survive, but the market has collapsed for people cannot conduct business. The Italian government has gone as far as to place tax agents in from of Jewelry stores to monitor who is going in.
Tax audits in Italy are an extortion. It may take even 6 months and during this period they harass you so much, there is no hope of getting out without them demanding something be paid even if nothing is owed. You often cannot even work during an Italian tax audit and business is seriously harmed by the tax authorities. It has degenerated into just nasty socialists working for the government out to cause as much harm as possible to get even that makes them feel better. This is driving unemployment higher and it will be
We are in such a state of complete economic meltdown that is becoming really scary between currency controls preventing personal wires and shrinking global trade. This is why we are making every possible effort to be that lone voice in the wilderness and can use all the help we can get. The collapse of Rome was swift and the majority took place just in 8.6 years for the complete decline.
The international markets are perhaps safer than domestic for the prices will be supported on a broader scale. The Italian market has been destroyed as is the case in France. When tangible assets must go into hiding because the government is out to grab whatever it can, now we are into the mode of Maximinus I who simply declared thatALL wealth in Rome belonged to the state.
We need to spread the word as much as possible that it is government who is NOT the nation and is always opposed to the freedom of the people. Just read Tomas Paine and his Common Sense.
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NSA Defends Itself – Justifies Even Spying on Friends & Their Leaders As Necessary – You wouldn’t want to be Married to him!
The NSA has admitted that spying on world leaders is a top priority. It seems like that is the standard response for everything. They just have to know what everyone is doing and thinking.
This is one sick person. Can you image this type of person as a spouse? How about as a father? Clearly, this guy cannot sleep at night worrying what someone said that does not even concern him.
This is not even TRUST but VERIFY as Reagan said.
This is trust no one at any time.
The NSA has admitted that spying on world leaders is a top priority. It seems like that is the standard response for everything. They just have to know what everyone is doing and thinking.
This is one sick person. Can you image this type of person as a spouse? How about as a father? Clearly, this guy cannot sleep at night worrying what someone said that does not even concern him.
This is not even TRUST but VERIFY as Reagan said.
This is trust no one at any time.
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World Trade Turning Negative – Same as Protectionism
A 30-year trend of trade growing at twice the speed of the global economy has come to an end thanks to the USA hunting Americans worldwide. I have been warning these morons, so desperate for money, have been systemically destroying the world economy. The official trend in global trade is now starting to turn negative based on our preliminary numbers. The FT has also noted this trend may be in a structural shiftregarding in world business. This is massively deflationary and amounts to the same net effect of protectionism from the 1930s. These people are destroying everything that was built all because they will NOT revise the monetary system. They can only see their own reins of power and are concerned about keeping that power and to hell with everything else.
A 30-year trend of trade growing at twice the speed of the global economy has come to an end thanks to the USA hunting Americans worldwide. I have been warning these morons, so desperate for money, have been systemically destroying the world economy. The official trend in global trade is now starting to turn negative based on our preliminary numbers. The FT has also noted this trend may be in a structural shiftregarding in world business. This is massively deflationary and amounts to the same net effect of protectionism from the 1930s. These people are destroying everything that was built all because they will NOT revise the monetary system. They can only see their own reins of power and are concerned about keeping that power and to hell with everything else.
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Why Professional Politicians Are Dangerous
The United States was originally established with part-time politicians. Once they turned it into a full-time job, they get bored and write laws just to have something to do. Where Utah made it a crime to order a drink BEFORE you order dinner I suppose because some politicians must have gotten so drunk he forgot to order dinner, this one you will not believe. The EU Commission actually paid people to study how humans went to the bathroom and determined it had to be regulated. Yes – tax dollars at endless work. Who does such studies? Do they put cameras in the bathroom and watch you in secret like the NSA?
The United States was originally established with part-time politicians. Once they turned it into a full-time job, they get bored and write laws just to have something to do. Where Utah made it a crime to order a drink BEFORE you order dinner I suppose because some politicians must have gotten so drunk he forgot to order dinner, this one you will not believe. The EU Commission actually paid people to study how humans went to the bathroom and determined it had to be regulated. Yes – tax dollars at endless work. Who does such studies? Do they put cameras in the bathroom and watch you in secret like the NSA?
Thailand – Tax the Tourist
Government just never learns What happened to NO TAXATION WITHOUT REPRESENTATION? Thailand already taxes.tourists who must pay an Exit Tax of 500Baht that is included in the Airline ticket. Obviously, the $500 Billion Tourists spend in Thailand seems to be just not enough. They intend in 2014 to now introduce more taxes on tourists. Even in the land of Marxism (Europe) if you are not from Europe, you can get your VAT back. Talking about killing the Golden Goose..
Russian Joke
Karl Marx and Adam Smith are on a boat. Karl Marx falls into the water. Who pushed him ? The invisible hand