Monthly Archives: September 2014

The Billionaires Club Is Gloomy About the Stock Market

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“Some of the US’s top investment minds are certainly expecting that SOMETHING will happen to stocks in autumn. China may or may not be the proximate trigger but there is a growing billionaire’s club with bearish sentiments. Our argument regarding this cooked-up ‘Wall Street Party’ has always been that those behind it want it to run several years longer. The idea may be that when it DOES reset, the damage will be so extensive that there will be no alternative but to further internationalize the system, which has surely been the goal all along. But there is no denying the possibility of a crash this year … this autumn. The larger question is, what kind of crash?”

http://www.thedailybell.com/news-analysis/35623/The-Billionaires-Club-Is-Gloomy-About-the-Stock-Market/

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Is ISIS a Real Threat to You?

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“Some prominent members of Congress are claiming that ISIS represents an ‘existential threat’ to this America. Either these politicians are trying to manipulate the American people with scare tactics, or they don’t know what the phrase ‘existential threat’ actually means.  Please understand, it’s IMPOSSIBLE for Islamic extremists to win our hearts and minds.  It’s even MORE impossible for them to conquer us using random terrorist acts.  In other words, nothing ISIS could do threatens our existence.  Thus, I DENY CONSENT to any action that uses ISIS as an excuse for military attacks; budget increases; new restrictions on civil liberties.”

https://secure.downsizedc.org/blog/is-isis-a-real-threat-to-you

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Iraq Is Not A Nation And You Can’t Build One There With Bombs

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“They left behind $25 billion in military training and state-of-the-art warfare equipment, but neither a dictator nor a nation. Indeed, under the latter heading they had endeavored to build a nation where there had been none, but ended up liquidating the machinery—–the Republican Guards and the Baathist political party—that in the most recent era had enforced co-existence with machine guns and poison gas canisters.  Foolishly claiming America’s job was done at the end of 2011 when the last GIs boarded transports out of Baghdad,  Barack Obama was actually opening the gates of hell without a clue as to the furies that would soon come swarming through.”

http://davidstockmanscontracorner.com/memo-to-washington-iraq-is-not-a-nation-and-you-cant-build-it/

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My journey from war to peace

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“On September 11, 2010, I was saying goodbye to my family and friends, for what I thought may be the last time ever, as I boarded a plane to Afghanistan. Nine years after the attack on 9-11 I wasn’t a boy any longer, and I was off to fight the war I had seen begin in my seventh grade classroom.  Nine years is a long time and a lot had changed in that decade of my life, but the constant that remained was my country’s hatred for the Muslim community. One could even say it intensified. The whole country had bought into it, and I am still ashamed to say that I did also.  I found myself in a situation that changed my life forever, and, although, I would rather not recount it here, I will share what I learned.”

https://teufelhunden.liberty.me/2014/09/03/my-journey-from-war-to-peace/

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They’re Coming for Your Accounts

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“Just a week or two ago, the International Monetary Fund (IMF) published a horrifying paper, called The Fund’s Lending Framework and Sovereign Debt. That paper, in turn, was based on one from December 2013, called Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten.  Major media ignored all of this, of course.  The December 2013 document, right at the start, says that ‘financial repression’ is necessary.   That’s not my interpretation; those are their words.  It’s not just the IMF, of course. The US Treasury has had a group working on these ideas since the Bush administration.”

http://www.caseyresearch.com/freeman/they-are-coming-for-your-accounts

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Bill Bonner: The Real Reason American Capitalism Is Failing

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“Come to China, and you will be impressed, as we are, with the material progress made over the last 30 years.  China’s success is widely misunderstood. Then again, so is American capitalism.  What does it take to produce prosperity?  Property rights – you have to believe that you can control and enjoy what you produce. Stable money – you have to be able to count on the medium of exchange. Freedom of action – you have to be able to go on with your business without too much state intrusion. Meanwhile in the US, the planners… regulators… controllers… meddlers… and zombies – all those who prevent real prosperity – grew bolder and more numerous.”

http://bonnerandpartners.com/real-reason-american-capitalism-failing/

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IRS Begins Assessing Back Taxes On Tech Company-Provided Meals

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“Staffers at technology companies such as Google Inc., Facebook Inc. and Twitter Inc.  long have enjoyed free gourmet meals, courtesy of their employers. The groaning buffets, in-house pizza joints, and kitchens stocked with organic produce are an intrinsic part of the culture in much of Silicon Valley, encouraging both collaboration and longer work hours.  The IRS, arguing that these freebies are a taxable fringe benefit, has given new attention to the issue in recent months, tax lawyers said. When employers haven’t been withholding taxes related to the meals, the IRS increasingly has sought back taxes that can amount to 30% of the meals’ fair-market value, the lawyers said.”

http://online.wsj.com/articles/silicon-valley-cafeterias-whet-appetite-of-irs-1409612488

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New IRS rule could cut into restaurant workers’ tips

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“Even as President Obama and progressive activists are trying to sell the nation on hiking the national minimum wage to help restaurant workers and other low-wage employees, the Internal Revenue Service is seemingly determined to make life harder for those same workers.  A change in tax policy implemented Jan. 1 will prevent restaurant workers from collecting automatic gratuities as part of their tips. Instead, that added fee will be included in their payroll, meaning workers have to wait up to two weeks to get that extra cash and must pay additional taxes on it. It means less money in servers’ pockets and more for the federal government.”

http://watchdog.org/122310/new-irs-rule-cut-restaurant-workers-tips/

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CurrencyFair Suspends Foreign Exchange Service for US Customers

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“As of December 7, US customers couldn’t deposit any more money to CurrencyFair. Money already deposited must come out by December 31.  CurrencyFair stated the reason for the suspension was new regulatory compliance requirements.  ‘Following our initial assessment of regulatory changes in the United States, including changes arising from the Dodd-Frank Act, CurrencyFair will temporarily withdraw services for US residents while we consider these requirements and how they impact our business model.  The exact date of re-activation has not yet been determined and may take some time.'”

http://thefinancebuff.com/currency-fair-foreign-exchange-suspended.html

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Union Pensions Win, Homeowners Lose in “Victory” Against Banks

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“Perhaps the biggest winners in the largely tax-deductible $16.5 billion U.S. settlement against Bank of America was B of A itself, public employee pension funds, state bureaucrats and political hacks. The State’s CalPERS and CalSTRS public pension funds get a $300 million bailout, making these pension funds whole–despite the pension funds’ own irresponsible investments.  Previously Citibank and JP Morgan Chase gave $299 million and $300 million to CalPERS and CalSTRS. Some unknown portion of $500 million from of B of A will go for direct ‘consumer relief’ such as loan modifications, the rest to low income housing programs run by state bureaucrats and community organizers.”

http://www.highlandnews.net/news/political/article_3b1448dc-31ec-11e4-8df5-0019bb2963f4.html

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