Inde i wrote my Senator concerning the bailout.

Inde i wrote my Senator concerning the bailout.

The small a single: Paulson and also Bernanke's $700 billion charit to their favorite charitable organisation, Wall Street.

We urged her to think again about a commitment of practically three-quarters of any trillion dollars associated with taxpayer money - my money, and your own - when we had no way to cover it back in addition to going cap at your fingertips to our associates in the Chinese Communism Party and Dubai to attempt to borrow it.

My answer is try, because Congress has been expending hundreds of huge amounts of dollars each year more than you will need in for as well as our Marxist and Muslim bankers increasingly becoming higher than a little suspicious about whether we shall ever be capable bvi corporations to repay them.

No wonder. We are currently in debt more than 14 trillion dollars, which is just the us government IOUs just like Treasury Bills, and also Treasury Bonds. Forget the money Congress contains ripped off through the Social Security program and the many trillions associated with unfunded liabilities (future financial commitments which is why we do not have the funds. Quotes run to about 60 trillion dollars).

These types of numbers are so big they break your brain. It's difficult to even fathom whatever they imply.

"If you laid one dollar expenses end to end, you might make a cycle that stretches from globe to the moon and back again 200 situations before you sold out of dollar charges! It would have a military jet playing with at the speed involving sound, reeling out a roll of buck bills behind it 14 years before that reeled out one trillion dollar charges. very well (100777. com)

You get the image.

The eye on the national debt last year ended up being $451, 100, 000, 100. Which is $1, 252, 777, 777 each day, $52, 199, 074 per hour, $869, 984 one minute, $14, 499 a 2nd.

Makes you feel warm all around, doesn't this?

Therefore i told very own Senator to knock this off.

The lady responded. She declared 88, 150 people had written in opposing the bail out there and that 6, 000 have been in support of that. But that it was a countrywide crisis and she as well as the other members regarding Congress felt these people were doing the appropriate thing for the American people.

World of one doesn't even start to say this.

These lawmakers, who have the actual financial IQ regarding road-kill, who have bankrupted our region to the point of a new half a trillion money a year in curiosity for wars and well being, know what's best for the American people?

The 1st bailout, which was a devastation, is of course, now being accompanied with a second one that has more pork compared to a Jimmy Dean sausage factory. This one is now brand as a "stimulus offer, " and is also being muscled through Congress as I publish this for a great trillion and a district (including interest).

A person would think someone driven LSD into the liquid up certainly, there. With the brand new bailout program, cum stimulus plan, the actual projected budget deficit in this year alone is approximately $1. 7 trillion.

Where do they think they are going to fully grasp this money? Unknown central banks are dumping dollars like a terrible habit, and Oughout. S. debt is now about since welcome as an package of clou.

Which brings us to the point of this short article, which is that when the government finishes its expending binge, and awakens to their vision -watering fiscal after effect, they will switch inward with a vindicte, seeking to filch money through every nook as well as cranny of the Oughout. S. society.

TAX RAISES ON THE WEALTHY

That there is going to be tax increases is really a given. And they will begin with the well-off. For those who have worked difficult and accumulated some prosperity at the same time, you might be a high-profile concentrate on for higher tax returns.

There is strong sentiment in the White House about down that should you make reasonable money, if include accumulated some resources, the government should take some of it and spread it all around.

Everybody is familiar with the President's statement to Joe the Plumber during a campaign stop previous October when he claimed, "I think while you spread the success around, it's best for everybody. inches

"Everybody" being folks that didn't receive the money but that get some of your own.

But why don't not quibble about who created the riches, what's important would be to spread it approximately, even things out there.

And at case you aren't mainlining MSNBC for your political news currently, you may have missed the fact that this point of view is not really the sole domain of the White Property. Some key affiliates of Congress are extremely clear of their Das Kapitalian intentions.

Barney Frank, the Chairman of the House Finance Committee, observed lately,

"I think at this point there needs to be a spotlight on an instant increase in spending and i believe this is the time when deficit fear has to take a 2nd chair... I believe later on there ought to be tax boosts. Speaking in person, I think there are plenty of very rich people out there whom we can tax on a point in the future. inch

In fact, the best Congressman may look for a shortcut to your income. Instead of waiting for your tax return, your salary itself might be vulnerable.

An article in Financial 7 days, quotes the Chairman of the powerful Financial Services Committee as indicating, "Congress will take into account legislation to extend a few of the curbs in executive pay this description now apply just to those banks having federal assistance.... The actual compensation restrictions would apply to all financial institutions and might always be extended to include most of U. S. companies. inch (Emphasis added).

Channeling Karl Marx, Franks' colleague in your home, Democratic Representative James Moran, got this to say throughout a campaign avoid:

"In the past several years, our company has had the very best corporate profit ever in American record... Nonetheless it hasn't been contributed. And that's the condition. Because we've been guided by way of a Republican Administration that believes in the particular simplistic notion that people that have wealth have entitlement to keep it. And so they have an antipathy towards the way of redistribution wealth. "

Say what?

See, here's the scary part, he is serious. He is a United States Congressman on the Appropriations Committee - perhaps one of the most important and powerful committees in the house. He is also area of the Democratic Leadership inside your home and this man thinks there is something amiss with individuals who consider that when they have accumulated some assets, they have been eligible for keep them.

Whenever you add gargantuan budget failures to a government whoever economic philosophy is based in a craving in order to redistribute the useful its citizens, you know they shall be coming for folks that have were able to flourish and be successful.

Let's end up being blunt: once you earn well or else you have resources, your financial declaration is at threat.

Nevertheless the assault on your own assets is not only originating from potential changes in tax plan.

CONFISCATION OF PRIVATE RETIREMENT ACCOUNTS

Testimony ahead of the House Committee in Education some time ago, suggested that personal retirement accounts (IRAs and 401Ks) needs to be converted into government controlled accounts called Guaranteed Retirement Records (GRAs). They might be managed through that bastion of fiscal propriety, social security administration.

Florida Democrat, George Miller's Residence Committee on Education as well as Labor heard a offer coming from Teresa Ghilarducci, professor of economic policy evaluation at the New University for Social Research in New York, to get rid of tax breaks just for 401(k) and similar retirement living accounts such as IRAs and change them into Guaranteed Retirement Accounts managed from the Social Security Administration.

THE PROGRAM

Under Ghilarducci's plan, workers would have 5% of their pay mandatorily deducted from their pay and also deposited in their GRA. This specific deduction would be along with Social Security and Medicare income taxes, which would also have to remain paid by employers.

The 5% would not be allowable by employers (as has become the case) in support of half of the GRA belongings could be passed together to your heirs on death. Presumably, Uncle would keep your partner.

"I'm only rearranging the breaks that you can get now for the purpose of 401(k)s and spreading the actual wealth, " your sweetheart said.

There may be that phrase once more.

ARGENTINA IN ORDER TO CONFISCATE RETIREMENT STRATEGIES

And just in the event you think the concept of a government confiscating personal retirement balances is out of the range of possibility, we urge one to read the story in the October twenty-two, 2008 issue on the Wsj, which reported how the Argentinean government had seized all private pension plan and retirement accounts to fund government operations as well as a ballooning budget shortfall. Some articles note that this program had been mandated by the Web design manager, but still had to be approved by the Argentinean Our elected representatives, which is regulated by the President's Peronist political event.

CONFISCATION REGARDING SILVER AND GOLD

However trillion dollar budget failures will require a lot more.

Many turn to precious metals during times of economic duress. This is not surprising as gold and silver have been completely a store valuable for thousands of years and they have actual beneficial uses rather than paper money which has none other than its government mandated use as money.

When a government includes debased its currency in the printing hit, it often takes measures to attempt to prevent the citizens from fleeing in the currency into precious metals or even stronger currencies. One of the measures that has been found in days gone by is making the ownership of precious metals illegal. This seeks to avoid the capital flight from its currency to hard assets.

Sound unreal?

We provide you with President Franklin D Roosevelt on March 9, 1933.

"I as President do declare that.... the continued private hoarding of silver and gold by subjects of the Usa poses a grave threat to the peace, equal justice, and well-being of the Usa; and that appropriate measure should be taken immediately to safeguard the interests of our people.

"Therefore... I hereby proclaim that such gold and silver holdings are prohibited, and that all such coin, bullion or other possession of gold and silver be tendered within fourteen days to agents of the Government of the United states for compensation at the official price....

"All safe deposit boxes in banks or banking institutions have been sealed....

"Therefore be advised that the vault box must remain sealed, and could only be opened in the presence of an agent of the Irs. "

It may surprise you to realize that laws remain that provide the President the authority to prohibit the ownership of gold, silver as well as other assets during emergencies. The Trading with the Enemy Act and the International Emergency Economic Powers Act can be used to freeze privately held assets and prohibit their possession any time the President dilemmas a proclamation of emergency.

CURRENCY CONTROLS

Currency controls are yet another way governments try to contain the adverse effects of printing excess amount.

Wikipedia defines it this way: "Currency control is really a system whereby a country tries to regulate the worthiness of money (currency) within its borders. "

This can just take many forms, but for our purposes, a great way governments implement currency controls would be to limit or prevent assets from leaving the united states. You do not be able to move money or other assets abroad (as that will remove them of the grasp of Uncle). Converting dollars into a stronger currency could become illegal as could transferring funds from the country to purchase gold, if it were outlawed here.

Increased taxes, currency controls and outlawing the ownership of precious metals are just a few of the potential consequences that may emanate from a government that may soon wake from a spending binge the likes of which has never been seen before. And when the enormity of the damage they've created starts to dawn on them and starts to dawn on the rest of the country threatening their property or Senate seat, they will switch on the wealthy like machines from the Matrix seeking income for the government with techniques that such governments did in ages past - ways we have detail by detail above.

SOLUTION

"Your government considers you a national resource to be exploited. If you do not get your money out of the country before the government gets your hard earned money out of you, you're an idiot, and you're going to get what you deserve. " The Casey Report January, 2009

Growing numbers of people are moving assets offshore into gold, silver and stronger currencies such as the Swiss Franc, the japanese Yen and the Chinese Yuan. Seeing the coming tsunami of government debt and inflation and potential confiscation of personal wealth, the majority are turning to offshore jurisdictions that provide privacy and outstanding asset protection.

Government taxing authorities would love to have people believe that moving assets offshore is somehow immoral or even illegal. Nothing could possibly be further from the truth. According to the U. S. Government Accountability Office, 83 of the nation's 100 largest corporations including top notch brands such as General Motors, Pepsi, News Corp and Wells Fargo had subsidiaries in offshore tax havens in 2007. In fact, hundreds of thousands of offshore entities - corporations and foundations - operate legally in tax haven jurisdictions from Panama to Liechtenstein, from the British Virgin Islands (BVI) to Hong Kong.

Offshore corporations, foundations, and trusts can frequently be set up for very nominal amounts and enable those creating them to move a number of their assets out of dollars, from the reach of fiscally irresponsible, avaricious governments and off the radar screen of Big brother.