War on Jesus

thought-provoking and powerful documentary film on the current and historical root causes of the Israeli-Palestinian conflict. Unlike any other film ever produced on the conflict — 'Occupation 101' presents a comprehensive analysis of the facts and hidden truths surrounding the never ending controversy and dispels many of its long-perceived myths and misconceptions

Archive for the month “August, 2013”

Conspiracy Theory No More, Video, Of BBC Announces Building 7 Collapse 20 Mins Before It Happens

These buildings have sprinkler systems. Building 7 never suffered impact, how could it have collapsed from fire or heat damage to the structure? An

via Conspiracy Theory No More, Video, Of BBC Announces Building 7 Collapse 20 Mins Before It Happens.

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How to Leave the Pharm – Renounce your US citizenship

A massive 1,131 individuals renounced their US citizenship last quarter, according to data that has yet to be officially released (though I was able to procure an advanced copy).

This is a HUGE jump.

Compared to the same quarter last year in which 188 people renounced their US citizenship, this year’s number is over SIX TIMES higher.

Not to mention, it’s 66.5% higher than last quarter’s 679 renunciations.

This brings the total number of renunciations so far this year to 1,810.

While still embryonic, it’s difficult to ignore this trend– more and more people are starting to renounce their US citizenship.

After all, the number of people who renounced citizenship this past quarter is roughly the same as the number of people who renounced for the previous four quarters COMBINED.

This movement shouldn’t be that surprising for a species that began as nomadic hunter gatherers, or for a society that was founded by foreigner settlers in search of a better life.

Yet, in a rather anomalous twist, the emotional ties we have for our passports are incredibly strong.

It doesn’t matter where you’re from– the United States, Sweden, New Zealand, or Venezuela… many people all over the world are inculcated from birth with a sense that their country is ‘better’ than all the others.

We grow up with the songs, the flag waving, and the parades until the concept of motherland becomes deeply rooted in our emotional cores.

Not to mention, when so many of our friends and neighbors unquestionably fall in line, it’s a powerful social reinforcement that only strengthens the bond.

We come to view our nationalities rather ironically as a big piece of our core individuality. I am an American. I am a Canadian. I am an Austrian. Instead of– I am a human being.

It has taken decades… centuries even… to reach this point. So the fact that more and more people are making the gut-wrenching decision to ditch their US passports is truly a powerful trend.

So what’s driving it? Taxes… and the search for liberty.

For many, their tax bills constitute a financial breaking point. Particularly for people who spend most of their time outside of the United States and are constantly hamstrung by worldwide taxation and information disclosures, the burden for many of them has just become too much to bear.

The US government figured this out some years ago and began charging an exit tax to certain high income / high net worth expatriates seeking to renounce.

This applies to anyone whose average US tax liability over the last five years was about $150,000 (the equivalent of roughly $500,000 in taxable income in 2012 dollars), and/or has a net worth of at least $2 million on the date of expatriation. Curiously this net worth figure does not adjust with inflation.

The ironic thing is that in the “Act of July 27, 1868”, the United States Congress declared that “the right of expatriation is a natural and inherent right of all people, indispensable to the enjoyment of the rights of life, liberty, and the pursuit of happiness.”

Yet I would expect that as the number of expatriates continue to grow, this exit tax will become more and more onerous as the government tries to trap people, and their wealth, in the country.

Source:repost from Simon Black, sovereign Man

Video: Peter Schiff-US Citizenship: Privilege or Albatross?

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Your Pension Plan and The Government Plan of Confiscation

Yesterday an online newsletter written by Simon Black, “Sovereign Man” indicated the IRS had found a backdoor way of stopping IRAs from going offshore. Simon wrote-

” More specifically, the IRS is refusing to issue tax ID numbers for single-member LLCs that are owned by an IRA… which is the specific structure that US taxpayers need to create in order to ship their retirement savings overseas.

Of course, no LAW has been passed. No vote has been conducted. The IRS simply decided by policy in its sole discretion to stop allowing Americans to create this structure, and hence, force them to keep their retirement savings in the US.”

I haven’t heard or seen anything to support this claim, nor have I heard anything to refute it. I actually wouldn’t be surprised if it turned out to be true. There has been a very disturbing trend lately for those who are in power to completely ignore the rule of law in this country. They basically do and say whatever they want with impunity.

But this is not meant to be another political op-ed about the governments current policies. If you are like me, you are now sick of the political banter.

Here is the bottom line. I have been warning people for years about what I believe is a concerted effort to stop IRAs and retirement plans from going offshore. Frankly the government wants to stop all assets from leaving this country but lets just focus on retirement plans and IRAs.

Why?

Because our country has amassed a staggering load of debt. Some wonder if it can ever be repaid, and others are worried where the money is going to come from for future spending. I can tell you where it will come from. If THEY have their way, Retirement plans, that’s where! There is a lot of money tucked away in IRAs and retirement plans and if the government can figure out a method to get their hands on it, then it would sure help out. Well that IS the plan and it has shown up numerous times over the last few years. Just take a look at any of my previous articles and you will find mention of hearings before congress, proposed legislation, government initiatives etc etc. The latest being a statement from the Consumer Financial Protection Bureau where they are seeking legal authority over retirement plans and how they are invested.

I don’t really think it is a question of IF they force retirement plans into Treasury Bonds but WHEN.

Back to the matter at hand. There has been no rule change that would prohibit an IRA from investing in an LLC that I am aware of and Simon says the same. I am not sure how they handle IRAs and LLCs but our system works a little differently.

Standard Disclaimer- We don’t provide tax or legal advice. Blah blah blah——
Take a look at IRS form 8832. A single member LLC has the right to be treated as a disregarded entity for tax purposes.

Why is this important? Because you don’t need a tax id or EIN to take your retirement plan offshore using a foreign LLC.

Our clients typically have us establish a non-US LLC for their IRA. The client then directs the LLC to buy real estate outside of the US, or opens a foreign bank account, an online offshore trading platform or whatever the client wants to do. NONE of these actions require the LLC to obtain a tax-id.

The moral of the story-

I would not be surprised to wake up one day and find you can no longer take your retirement plan offshore. They will do it in a way that does not require them to change the rules. They will simply tell the IRS to do something and we all know by now it can happen.

I urge you-take your retirement plan offshore NOW while you still can.

Source: Simon Black – Sovereign Man

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Have you hit your breaking point yet?

It just never stops.

Here on the European continent, the bureaucrats who run the EU have recently proven to the world how much a ‘government guarantee’ is really worth.

We’ve been discussing in this column lately how the modern banking system is a total fraud– that dictatorial control of 70% of the world’s money supply has been awarded to just four central bankers.

And that the vast majority of banks, especially in the western world, are laughably illiquid… and very thinly capitalized.

But most people never really worry too much about their banks. We’re told, pratically since birth, that banks are safe, responsible, conservative financial stewards. This belief is universally held as truth across society.

And to cap it all off, we’re told that the government will step up to backstop any bank losses and ensure depositors don’t lose a single penny.

The numbers obviously tell a very different story. In the US, for example, many banks hold less than 3% of their customer deposits in cash, and they have to use clever accounting tricks and off-balance sheet vehicles to mask the true health of their balance sheets.

And the FDIC, which is supposed to bail out US depositors in the event of a crisis, has a mere 1.35% of total US deposits in cash. This isn’t safe. This isn’t conservative. It doesn’t even register as a drop in the bucket.

In Europe, though, they’ve just decided that they’re -not really- going to insure deposits at full value after all (see the article in its original German here–

http://deutsche-wirtschafts-nachrichten.de/2013/08/07/neue-eu-regel-sparer-muessen-um-guthaben-unter-100-000-euro-bangen/)

Now, if a bank goes under, governments will make very, very basic payments to depositors, and restrict withdrawals to just 100-200 euros per day.

There’s a term for this. It’s called capital controls. And it’s something that almost every bankrupt government in history has resorted to using.

Capital controls are essentially a restriction on the free-flow of capital. It can take a number of different forms– gold criminalization, bank account confiscation, foreign exchange restrictions, etc.

But at the end of the day, the effect is the same– capital controls are just another way of transferring wealth from citizens to the government, like dairy cows to a farmer.

Meanwhile, across the water, I am sad to report that a number of secure email platforms like Lavabit and Silent Circle, have now folded under intense pressure from the United States government.

Lavabit was an email service used by Edward Snowden. From the very cryptic message that CEO Ladar Levison left on his website, it appears that he has been approached by the NSA to turn over email records.

Rather than work with the NSA, Levison has shuttered his operations.

And to boot, Silent Circle CEO Mike Janke announced that his organization was pre-emptively discontinuing its email platform ‘Silent Mail’.

Janke says he sees the writing on the wall and knows “USG [US government] would come after us.”

It’s incredible that two businesses essentially have to commit suicide in order to keep from violating their promises to their customers.

Just another week in the free world. Have you hit your breaking point yet?

Source: repost from Simon Black, sovereign Man

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Quote of the Day

Freedom is the right to tell people what they do not want to hear.
George Orwell

Quote of the Day

If you want a vision of the future, imagine a boot stamping on a human face – forever.
George Orwell

Quote of the Day

“Bipartisan usually means that a larger-than-usual deception is being carried out.” George Carlin

Quote of the Day

In a time of universal deceit – telling the truth is a revolutionary act.
George Orwell

Quote of the day

“The Federal Reserve is now 100% committed to the destruction of the dollar. Anyone with wealth in the US dollar should be concerned that economic leadership is firmly in the hands of irresponsible bureaucrats who are committed to an ivory tower version of reality that bears no resemblance to the world as it really is.”

–Peter Schiff

Dutch bank defaulted on physical gold deliveries to customers

And this could be also happening in the Land of The Free.

Basically their customers thought they had gold in their bank, but the bank defaulted and said it would give them the paper money equivalent instead. They informed their customers that there was no physical gold available.

So far, the people who believe that there is a big cartel suppressing the price of gold using the “paper gold” market have been widely regarded as conspiracy theorists that shouldn’t be taken seriously. The “paper gold manipulation theory” predicts that the world’s financial institutions lack the physical gold required to keep the price suppressed and sooner or later the powers that be will resort to gold confiscation.

The conclusions are clear to any seasoned investor. Never trust a bank to hold your precious metals. It will only end badly.

Source: the voice of Rusia – http://voiceofrussia.com/2013_03_28/ABN-has-no-gold-left-for-its-clients/
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