EU Looking at Consolidating All Member Debt – Is It Too Late?
The European Union (EU) is now looking at consolidating all member debt, which is what they should have done from the start. The question remains – Is it too late now? Since they have already conditioned the public to accept debt defaults and write-offs, why not just consolidate everything? This is their hope to keep the EU together.
The market seems saturated with government debt and capital has begun to shift from the long-term to the short-term. This would perhaps have a positive effect for Greece, but it may set off a selling panic for Germany. The play there was the assumption that the euro would fail, and if so, then investing in bunds would result in getting Deutsche marks. If the debt is consolidated, sell the bunds.
The War on Cash Is Going Completely Nuts in Europe
Austria is where the Sovereign Debt Crisis began with a bank failure in 1931. Today, Austria continues to have a raging controversy over the abolition of bank secrecy. Just look at how far they are going against the citizens because of bank mismanagement, once again, and it is scaring the hell out of a lot of people behind the curtain. The government is monitoring taxpayers in a manner that will lead to the elimination of all private rights in the future. They are now introducing new laws, which forces all taxpayers to submit their fingerprints, as well as their IP e-mail addresses, to the tax office so that the government can track every piece of loose change.
Austria is obviously moving to the extreme by extending their powers of intervention to financial authorities, demonstrating that the world these people are creating is totally authoritarian. Taxes are a barbaric relic of the past and are no longer necessary since money is not some tangible commodity – money is the total productive capacity of the people. These people in government spend recklessly and never reform, while corruption engulfs all governments around the world. We no longer need taxes at the federal level when money is intangible to begin with. The days of commodity-based money are gone. Government needed taxes in the past to retrieve some portion of the commodity to spend again. Today, money is electronic; there is no need to impose taxes and track everyone when they are capable of creating money at will anyway. The key is to cap the amount of money that can be created annually to pay for government, and leave the people free to expand their own economy. This is insane and we are losing all our rights because these people do not even understand what money is anymore.
Swiss Agree to End Bank Secrecy Betraying Their Own Country
Switzerland has caved in entirely and has sealed its own demise. Everything that made Switzerland the place to be, from religion to economic freedom, is becoming lost thanks to bureaucrats. Switzerland began as a tax revolt; William Tell would be rolling over in his grave if he knew what this country has just done. Swiss bank secrecy began as a way to protect Germans after Hitler made it illegal for the German people to have any money outside of Germany, just as the USA is doing with FATCA indirectly.Not even Hitler violated the sovereignty of Switzerland where those in government today are far more ruthless and threaten other nations with ultimatums. This is all about their greed for taxes.
The European Union and Switzerland have now signed a major accord that will end banking secrecy for EU residents, preventing them from hiding undeclared income in Swiss banks. All the Swiss will be left with is chocolate and watches. They fail to grasp that what made the country great was its respect for freedom against Hitler. The Swiss bureaucrats are have committed treason against their own people. We now have the same trend emerging as Hitler declared making it illegal for Germans to have their money outside the country for the very same reasons – taxes and greed. Switzerland has caved in this time betraying everything that the country once stood for. There is no no reason for anyone to bother having an account in Switzerland and these bureaucrats cannot figure that is the net effect. The Swiss will not show the movie theFORECASTER like the United States because it is derogatory against the banks. I think what they have just done finishes Swiss banking as anything special far more than any movie would have caused.
Perhaps Singapore is the last haven still standing. We no longer need taxation at the federal level for money is no longer a commodity based upon barter. Our politicians around the world remain ignorant of how the economy has evolved and as a consequence they are destroying the global economy right before our eyes. Of course the socialist will cheer – go get the rich. They are too stupid to comprehend that this is wiping out both theVELOCITY of money resulting in hoarding and as money moves off the grid and International Capital Flows that have build the global economy post-World War II.
The global economy is being destroyed by lawyers acting as politicians. All they know how to do is write laws. They have ZEROexperience with understanding the economy, tax, or even what currency is these days. This is all our fault. We have failed as a society to require people with experience to run government. We vote for people simply because they are of a race like Obama, gender like Hillary, or they smile nice. This is like going to a tax driver to ask if he is free on Friday to operate on your brain. We have no qualifications for the most important job of all, running the economy. Screw that up and you get war.