Now They Are Groping For Your Goodies Down Under

April 14, 2013 fasab Crime, Current Events, Factoids, Investing, Politics 000, 100, Australia, Australian government, bankrupt governments, bankster, bureaucracy, business, confiscation, countries, Current Events, Cypriot bank accounts, Cyprus, deficit, down under, economy, education, enacting new legislation, EU bureaucrats, European countries, financial problems, free, goodies, government, government taxes, groping, IRAs, law abiding citizens, markers for the future, Misc, Miscellaneous, Opinion, pension fund, pensions, pensions funds, politics, Random, Rants, real estate bubbles, retirement, rich, robbed, savings, steal money, strong financial position, stupid rules, stupidity, superannuation funds, targeted, tax income, theft, Thoughts, United States, US citizens, withdrawals

“Fight Against Stupidity And Bureaucracy”

The fallout from the attempt by the EU bureaucrats to steal money out of Cypriot bank accounts continues.

Many people have missed the significance of what has happened and the fact that sooner or later it will also affect them.

But it will, simply because the whole attempted theft in Cyprus has set down dangerous markers for the future.

First, anyone with savings of $100,000 or more is categorized as ‘rich’ and will be targeted by their bankrupt governments as fair game for confiscation of some of their savings.

Second, what happens in one part of the world will eventually happen in another. You can count on that.

Already there are signs of this in the most unlikely of places, Australia.

Compared to most European countries and to the United States, Australia is in a relatively strong financial position. Although, like a lot of countries, it has been running at a net deficit for years, it was largely unaffected by the real estate bubbles and bankster debacles that has caused so many financial problems elsewhere.

Yet even in Australia the government is enacting new legislation that will penalize ordinary law abiding citizens who have responsibly set aside savings for their own retirement.

The Australian government now wants to tax income over A$100,000 withdrawn from what is known there as superannuation funds – US citizens know these better as IRAs – elsewhere as pensions funds.

Previously one of the incentives to saving money for retirement in a pension fund was that when the time came for you to withdraw the money, you could do it free of any government taxes. In fact in most countries that was THE big selling point to entice people to open and save regularly into pensions funds.

But the Australian government has now decided to change the rules. When withdrawals are made from these accounts over the magic $100,000 mark, they will be taxed at a rate of 15%. (That’s 15% at the moment, once established these rates could increase depending on how desperate the government becomes.)

What this means is that the Australian government now wants to tax the money you put into a pension fund when you put it in, AND then tax it again when you try to bring it back out! The archetypal taxation double-whammy!

Is that unfair, or that unfair?

Like what happened in Cyprus, these latest moves in Australia could quite easily happen in your country too!

Are you ready to be robbed???

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Friday Wasn’t Quite Black, But It Did Lose A Bit Of Its Shine

April 13, 2013 fasab Business, Current Events, Investing, Rants, Uncategorized, Unusual automatic trading, bankrupt governments, Banks, bear market, Black Friday, bonds, comex, commodities, commodities market, computer generated trading, currencies, currency collapses, Current Events, cycle, dealers, debt, doom-and-gloom, economic indicators, fiat currencies, financial pundits, freefall, Friday, gold, good investment, harbinger, hedge funds, herd mentality, hold its value, idiots, inflation, inflation fears, insolvency, investors, last resort, market plunge, massive selling spree, Misc, Miscellaneous, money, monsters, Musings, Opinion, panic sell off, paper money, Personal Writing, price of gold, Random, Rants, return on investment, safe haven, savings, sell offs, speculators, stocks, stop loss, stupid, stupid people, stupidity, the Comex, the end is nigh, Thoughts, turbulent times, western economies

“Fight Against Stupidity And Bureaucracy”

You couldn’t exactly call yesterday “Black Friday” the way financial pundits like to do, but that traditional “safe haven”, gold, certainly lost a lot of its shine.

In fact the price of gold went into freefall, plunging the best part of $100 an ounce in a massive selling spree and ending up below the magic $1500 mark for the first time in a while.

I don’t think anyone is sure yet just what triggered the almost panic sell off on the Comex, but my gut feeling is that, once started, the computer generated trading gizmos used by the big hedge funds etc., kicked in big time and made matters go from bad to worse.

These automatic trading monsters trigger sales when a pre-chosen stop loss figure is reached, one stop loss sell off triggers the next and so on until there is a massive market plunge, as happened yesterday. The same could just as easily happen on the stock market.

What most ordinary folks don’t realize is that the majority of traders in the financial markets are idiots. They just hang around looking at their screens and then follow whatever they see happening. It’s the herd mentality syndrome. When the big boys start to sell then the little boys follow suit and the whole thing goes from bad to worse, often without anyone really knowing who started it or why it is happening.

That seems to have been the case yesterday as there were no catastrophic economic indicators, like major inflation fears, currency collapses, etc., to trigger a significant movement one way or the other.

Whatever caused it, it is a warning to investors to be cautious. It could be a blip or the harbinger of turbulent times ahead.

Although there are many doom-and-gloom merchants with their “the end is nigh” web sites urging their followers to dump paper money, fiat currencies they call them, and stock up on gold, the truth is that gold has not been a good investment in recent months and years.

By definition the very worst a good investment should do is hold its value in line with inflation – if it doesn’t you are losing value.

For almost two years now gold has been steadily falling in value. Anyone who bought, for example, in August or September 2011 has seen their investment fall significantly in value – down by more than twenty percent in fact. You put $10,000 in, you get less than $7,900 out, and the dealers take their cut both ways.

So will the bear market for gold continue or was Friday just a glitch? Well, if you could answer that one for certain you would be able to make a lot of money.

My feeling, for what it’s worth is that the price will probably fall further. Maybe not so dramatically as yesterday, but it could easily trickle downwards to the $1200 region.

That assumes no dramatic sell offs by bankrupt governments and banks, because that is definitely a last resort measure that they would be most reluctant to take. If or when it does happen it means BIG financial trouble for everyone.

So will gold ever be a good investment again?

Warren Buffet never thought so, but it could be. Possibly a very good investment. But probably not a long term hold. Many western economies are just hanging together at the moment. The amount of debt and insolvency has to mean that at some stage the normal investment vehicles like currencies, stocks, bonds etc., will start to suffer and people will turn back to “safe havens” like gold.

IF you buy at the right time, and remember that you need to get rid of it and fast when the cycle turns again, you could do very well. But I wouldn’t jump in and buy it just yet.

Take it away Shirley….

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Cyprus Theft Update

April 3, 2013 fasab Banks, Business, Crime, Current Events, Factoids, Politics, Rants, Uncategorized, Unusual $, 40 winks, America, American citizen, attempted theft, backfire, bank, bank accounts, banking, banksters, Berlin, big corporations, bleak scenario, brown stuff, Brussels, bureaucracy, bureaucrats, citizens, cling to power, currency, Current Events, Cypriot parliament, Cypriot people, Cyprus, desperate governments, desperate measures, dollar, economy, education, Europe, European Union, events, fallout, fee, financial mess, financially stronger nations, France, funds, Germans, Germany, government, government bonds, governments, greedy banksters, highly paid, hit the fan, humongous debt, income, incompetent politicians, Ireland, larceny, leader, London, lose it all, majority, Merkel, Misc, Miscellaneous, money, money grab, money is safe in a bank, money managers, morons, Musings, Obama, offshore, offshore locations, Opinion, opinion poll, panic, penny will drop, pension plans, pensions, political administration, politician, politicians, politics, powers that be, protect what you have, Random, Rants, sad commentary, savings, savings in the bank, shafted, spain, stealing, stocks, strategy, stupid bureaucrats, stupid politicians, suspicion, T-Bills, taxes, theft, thieving governments, thieving hands, trend, trust, UK, US corporations, US dollar, Washington, Western governments, your own circumstances

“Fight Against Stupidity And Bureaucracy”

Anyone who has been following this story that I posted about a few days ago, (here if you missed it), will know that the European Union bureaucrats made an attempt to steal the savings of the Cypriot people right out of their bank accounts.

With at least one eye on their chances of being re-elected, the Cypriot parliament rejected the proposal out of hand. The proper thing to do no doubt, but there is also no doubt that this will not be the end of it. Indeed the fallout continues.

Western governments are desperate because of the financial mess that they and their bankster accomplices have created. And desperate governments are known to take desperate measures to try to patch things up.

Look out for more attempts by these governments to steal your money, whether it be in the form of savings in the bank, government bonds, stocks or in pension plans. Nothing is safe from the clutches of these thieves.

The goings on in Cyprus has already proven their intent and alarm bells have begun to sound among those who are awake and paying attention. The bureaucrats’ attempted money grab has already sparked off suspicion and panic throughout Europe and elsewhere as to the amount of trust people can have in their governments.

Even among the financially stronger nations the trend is clear. In Germany, for example, a recent opinion poll showed that the majority of Germans do not trust their leader, Merkel’s, pronouncements that their money is safe in a bank.

Throughout Europe those who can are moving their money to offshore locations away from the thieving hands of their own governments. Big corporations, including US corporations, are doing the same. It has already happened in Ireland and Spain and France and, to a lesser extent, in the UK too.

What a sad commentary on how these stupid politicians and bureaucrats have mismanaged our affairs.

Will it hit America as well?

That depends just how stupid the political administration in Washington really is – which is perhaps a kind way of saying, please err on the side of caution if you are an American citizen.

The $ as a currency will probably be okay for a while, despite the humongous debt that Obama is piling up, but eventually it will become impossible to print their way out of trouble.

All those highly paid morons and herd followers called ‘money managers’ who work for the various funds that you entrust your savings and pensions to, and who do little more than buy up T-Bills with it, may find that their strategy is going to backfire. Like the banksters, however, they will still charge you a fee for looking after your money whether they invest it wisely or lose it all.

But whilst the bureaucrats will never be able to figure out how to run an economy – their, “take more and more taxes out of less and less income” strategy will never add up – eventually the penny will drop with the good citizens and they will waken up and realize they have been completely shafted by incompetent politicians and greedy banksters.

Then the brown stuff will hit the fan – big time – and people will get real mad. And then the powers that be will have no choice but to turn on their own citizens if they are to cling to power. Preparations for this started under Bush and now Obama has added even more legislation to make this possible.

It is a rather bleak scenario, particularly for those who choose to ignore what is happening around them. But whether it happens in one year or another five, if the politicians and bureaucrats do not wise up – and their is little sign of them doing that especially when they have yet to realize how incompetent they are – it will happen.

So start to think seriously about your own circumstances and what you can do to protect what you have from thieving governments. Or just settle down and get another 40 winks assured in the knowledge that those in Washington, Brussels, London and Berlin know what they’re doing.

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