Posts Tagged ‘gold’

Politicians, businessmen, and media conglomerates working together have been touting that they had no knowledge of the current depression and economic trouble. Somehow this should be hard to believe given the way in which the economies and financial systems of the world were slowly manipulated throughout the years. It has been in the making for decades, made worse since Canada and the United States’ politicians signed away their respective economic sovereignty to the unelected World Trade Organization and NAFTA; not to mention the World Bank and the International Monetary Fund.
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This pipe dream of stabilizing Canada’s economy is not to be solved by shipping its manufacturing base, already less than a quarter of its economic activity, to countries where they utilize slave labour and manipulate their currency. It also is not to be solved by the proliferation of Casinos and gambling houses which destroy the moral fabric of communities and eventually countries. Here is a brief history of how gambling came to be common practice in Canada:

A 1969 amendment authorized provincial governments to manage and conduct lottery schemes and authorized charitable groups to do likewise under license – the federal government still had control, however, and even had their own lottery. The provincial and territorial governments soon negotiated provisions that led to the introduction of further gambling options in Canada such as province-run ticket lotteries. Governments began to generate substantial revenues from their virtual monopoly on Canadian gambling and became interested in diversifying their gambling offerings. (University of Alberta Study)

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Why would a country with decent, primarily Christian people, decide to open state-run Casinos thoughout its lands without any thought of consequence? You can bet your bottom dollar the policy makers knew the harmful effects that gambling would have on a population, but were desperate for solutions to declining public revenues due to de-industrilization (loss of manufacturing industries; backbone of the economy) and were under the influence of powerful people hell bent on destabilizing the middle class industrialized people of the world. “Canada experienced a dramatic increase in legalized gambling in the 1990s, primarily because of governments’ need to increase revenue without additional taxation” (CMAJ, 2000).

The industrialized world is steadily losing its manufacturing base to countries with low or non-existent labor, environmental, or financial laws. China is such an example of a country where they regularly manipulate their currency, condone limits on speech, disallow private sector unionization, and have poor or non-existent labor laws. Workers work 12.5 hours per day, spend 16.5 hours in the factory, and have to work all night during delivery rush. “There is no overtime pay. Workers are paid on product count. After all kinds of deductions, the average salary per hour is 13 cents” (China Labor Watch, 2001).

How could this come to be?

There should be no misunderstanding here. No one should be opposed to fair trade, but it’s time to recognize “free trade” is fiction because every trading relationship is managed in some way. Indeed, in an ideal world there would be no governments and therefore no need for representative government and public collectivization which all countries eventually become when people of similar values and morals come together in common cause. Indeed, Jesus fought for human freedom and did not give up even after he was crucified and nailed to a cross. As Jesus Christ said to Luke, “When a strong man, fully armed, guards his palace, his possessions are safe” (Luke 11:21).

One has to wonder if the de-industrialization; loss of manufacturing industries (and the subsequent decimation of the middle class); increases in drug trafficking and rises in crime mostly caused by a purposely faulty judicidial system; the increase in gambling and sinful behaviours such as prostitution (being legalized in some countries) and homosexual marriage; and the general acceptance of lies and deceit were deliberately planned out. Indeed, John Coleman, a famous historian and Christian, has stated this is the goal of the elite, satanist cabal steering planetary affairs. Indeed, he states point number five:
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“To bring about the end to all industrialization and the production of nuclear generated electric power in what they call “the post-industrial zero-growth society”. Excepted are the computer- and service industries. US industries that remain will be exported to countries such as Mexico where abundant slave labor is available. As we saw in 1993, this has become a fact through the passage of the North American Free Trade Agreement, known as NAFTA. Unemployables in the US, in the wake of industrial destruction, will either become opium-heroin and/or cocaine addicts, or become statistics in the elimination of the “excess population” process we know of today as Global 2000″ (Educate yourself, 2000).

Who is responsible for this?

The respective governments of Canada, USA, and the other industrialized and developing countries of the world — supposedly represented by their respective politicians — rammed the World Trade Organization’s agenda down the collective throats of their respective peoples through the incremental global trade agreements settled on shortly after World War 2. If one were to do their research, they would find that there were no public consultations regarding the need for so-called free trade rather than the much needed “fair trade.”

The World Trade Organization’s website states that the WTO agreement was ratified in member nations’ parliaments and consultative bodies, but what they do not mention is that nine in ten (90%) Canadians believe that politicians are “likely to lie” when they make statements in the media about important issues (60% “very likely” and 30% “somewhat likely)* and therefore agree that government does not represent common peoples’ concerns. Where is the democracy in that?

What Jesus calls his followers to do is emulate the way he lived his life. That is, to emulate his love for humanity, God, and the ability to question what rules and regulations authority has put upon mankind. Jesus was a revolutionary teacher. “His ideas shocked and frightened the people of His day. He would probably do the same to us today were He here in person. The sad truth is that the teachings of Jesus are just as revolutionary today as they were when He was here, but we have overlooked their importance. Or, we have failed to make application of them to our lives” (The Examiner).

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I call upon all Christians of all denominations to print out and cast their signature(s) as well as persuade their community members and families to sign the following petition in WORD format.

PETITION

to the House of Commons

in Parliament Assembled

We, the undersigned citizens and residents of Canada draw the attention of the House to the following:

THAT manufacturing jobs are important to Canada’s national economy,

THAT Canada is losing thousands of manufacturing jobs every year,

THAT each week more manufacturing companies shut their doors,
THAT losing manufacturing jobs in Canada affects millions of Canadian families, who either work directly or indirectly in the manufacturing sector,

THAT the loss of these jobs will negatively impact the future economic prosperity of Canada,

THEREFORE your petitioners call upon Parliament to immediately develop and implement a plan of action to protect Canadian manufacturing jobs in consultation with all stakeholders including labour and the business community.

Special thanks to Mario Silva for the petition document.

* These are the findings of an Ipsos-Reid poll conducted between October 22nd and October 24th, 2002 on behalf of The Comedy Network. The poll is based on a randomly selected sample of 1,000 adult Canadians. With a sample of this size, the results are considered accurate to within (+/-) 3.1 percentage points, 19 times out of 20, of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were statistically weighted to ensure the sample’s regional and age/sex composition reflects that of the actual Canadian population according to the 1996 Census data.

This is a particularly good article that one of my former professors wrote a few months back.  In this article he describes how governments use crises like the 2001 terrorist attacks on the World Trade Centers to push certain agendas; notably the curtailment of civil liberties, economic freedom, and personal mobility.

By Lloyd Brown-John, Special to The Windsor Star December 5, 2008

At best, it was perversely amusing and at worst, it was sheer hypocrisy. Big Three automaker executives pleading before a U.S. Congressional Committee for support for their industry. The auto industry is in crisis so to whom do pontificators of the free market system turn? Why, to government, of course.

What BJ does not mention is that there really is no so-called “free market” in that the financial and economies of the world are still very heavily controlled by governments thru the influence of big business.   Yes, big businessmen often rotate between public and private roles; hence, this is how corporations get their lobbying interests passed thru (the politicians often leave the private sector for the public one).

All over Canada and U.S., those who preach for reduced government involvement in the economy and society are suddenly in the face of perceived crisis making appeals to governments for bailouts, guarantees and enhancements.

Yes, of course they are, because bailouts, guarantees and enhancements are pretty much free public money to be dumped into private corporations’ pockets by the hand of their public-sector buddies who often have very well-knit connections thru lobbying.  Who wouldn’t want free money?  What corporation wouldn’t want more regulation with the effect of choking out competition as regulations do?

I am neither disputing either their right to make appeals or even that such appeals should go unheeded. Rather, I want to illustrate a point and that is that even the most conservative business executive, when faced with a crisis over which they apparently have little control, can become implorers of government intervention into the free market system.

It should be noted again that the author of this article is a public administration professor;  basically a shill for government involvement and intervention in the supposed free market.  It wouldn’t be too much of a stretch to say that his interests lay in promoting government public administration as the saviors rather than leaving the economy to private interests (where it should be).

Crisis does that to people. Crisis brings forth subdued resources and talents. Persons who risk their lives to save people in a burning home rarely are able to explain their behaviour in rational terms. None of us is trained to deal with emergencies, but some are exceptionally capable of handling crisis situations. Others falter and, in neither instance, are most able to explain their actions. Likewise, governments are ill-prepared, yet fully-equipped to engage in macro-crisis management.

Yes, governments are fully-equipped to handle macro-economic management like a bulldozer is equipped to perform fine gardening on a sunday afternoon.  Governments time and time again have been proven to be extremely wasteful, inefficient, and cannot possibly forecast or manage an economy as well as private interests can.  When I say “private interest” I mean the pricing signals generated by millions of people buying and selling on an open market.  When government intervention comes in, it makes a mess of the natural signals given off by millions of people; it heavily distorts the market.

Unfortunately when a public crisis emerges, almost invariably, we presume that in some form government will shoulder responsibility and manage the crisis. We absolve ourselves and turn to governments.

This mind set has been prevalent especially so since the advent of Keynesian economics which highlight government intervention, insane spending, and economic control of the market.  Would we not have had Keynesian economics’ (or ‘the government will save us’ mindset among the public) stranglehold on the mind set of politicians and bureaucrats, things would have been much different and people would not look for help from the government.  The problem has always been that government has been controlled by a few wealthy people who have pushed for control of the market and people thru the hand of government.

Our financial and automotive corporate executives have more or less said, “Yes, we made the financial mess but you — government — will have to clean it up.”

Yes, they say this because they want more regulation and control imposed on the “evil free market” because these regulations restrict and impose new barriers to entry into business for small-time players.  As an example, carbon taxes have been touted by big oil companies to be a good thing for everyone, but the real truth is that oil companies want these so-called environmental regulations because it restricts competition. (link)

Naturally, we all should appreciate that governments alone have a capacity to universally impose solutions to problems during periods of crisis. After all, governments in democracies exercise virtually absolute legitimate authority. The recent minority Conservative government’s throne speech offered insights both into how a refreshed government proposes to deal with an economic crisis and how, to some extent, that same government will employ the crisis to pursue its own conservative agenda.

Governments exercise absolute legitimate authority because they have a monopoly on the use of force through the judicial and law enforcement systems, especially through the military.  When’s the last time a politician has truly listened to and taken their electorates’ opinions into consideration and implemented plans for the common man?  Governments are violent thugs and have been proven to be all thoughout history.

To be fair, some governmental, collectivist programs may be considered to be beneficial to populations, but when looking at the whole picture, many of these peograms are doomed to fail because the way monetary system is structured, it becomes apparent that the entire system is doomed to fail.  For instance, fiat currency has been implemented and distorted by government with the abolishment of hard money standards (gold, silver).  No longer does capitalism work for the common man (as it was intended to do).

Employing a crisis to manage a specific policy agenda is not new. Throughout the world, post 9-11, governments employed — and still employ — the threat of terrorism to impose constraints on individual rights and freedoms. Many governments, already inclined to authoritarianism, used self-serving interpretation of crisis management to further restrain their citizens.

He makes a good point here for sure.  I highlighted this in the first paragraph.

Fragile freedoms and modest rights were further eroded not only by enthusiastic regimes in many countries, but they were also aided and abetted by a rapidly developing technological industry where the rewards are extensive for innovative and creative ways of watching, snooping and hiding from citizens.

It is this industry which has given us a technology to completely hide an active battlefield tank and its heat imprint behind a curtain of reflective materials. It is the same high technology industry which now offers airport security the opportunity to evaluate your personal body parts as prospective security threats.

I believe he is describing the military-industrial complex that former President Eisenhower warned us about many, many years ago, but the author of this article probably didn’t want to spook people with so-called “conspiracy theories” when in fact it has been proven that the military-industrial complex is responsible for wars and bloodshed with profit and control as the main motivator.

Soon we may have Ontario drivers’ licences which will contain details of your existence which details eventually should be available to anybody either with a scanner or exceptional hacking ability. Crisis offers opportunity and many technology industries are jumping at those government-induced opportunities. Of course, there is a symbiotic relationship as high-tech security related industries induce governments to consider even more invasive forms of “security” systems.

Throughout history would-be dictators, despots, and politicians have used “terrorism” (notably false-flag terror) to create events where citizens acquiesce and beg their so-called representatives to “save them” from the disaster that unfolded. When false-flag terror is mentioned, this is often a pseudonym for the often planned events necessary for citizens to give up their freedom. It has been used time and time again throughout history by dictators looking for easy ways to control and decimate populations.

Notable events in history which have been proven to be planned and conspiratorial in nature have been the burning of the Reichstag Building in Germany by supposed communists, when in reality it was proven that it was secret agents commanded by shadow governments to carry-out terrorism and blaming it on a created enemy.

This rush to encase our lives in alleged security networks is one issue. The other is a broader approach which the throne speech signalled to employing an economic crisis as a base from which new, unrelated, policy initiatives may be launched.

The warning, for example, to federal public servants that the government would legislate solutions to ongoing collective bargaining was very quickly followed by an agreement between the treasury board and public service unions. The throne speech warning appears to have been heeded.

Yet there remains a multitude of opportunities for the minority Conservative government to pursue specific policy objectives under a pretext that they are in some manner related to managing the economic crisis.

The very term “public interest” is regularly employed as a guise for specific government policy actions.

I would not dispute the current federal or even provincial government’s right as a governing party to pursue its own particular public policy agenda. Policy initiatives will be couched in terms of “public interest” and, whenever possible, cloaked in current crisis management spin. That is the prerogative of any government temporarily imbued with legitimate authority and political power.

What I urge, however, and based upon experiences after 9-11, is that we as a public always view with some skepticism claims both that a policy initiative is invariably “in the public interest” and, more specifically, that it is part of the government’s overall plan to manage the economic crisis.

Crisis is opportunity.

The Vietnam War was another notable event, specifically the Gulf of Tonkin Incident where “rather than being on a routine patrol Aug. 2, the U.S. destroyer Maddox was actually engaged in aggressive intelligence-gathering maneuvers — in sync with coordinated attacks on North Vietnam by the South Vietnamese navy and the Laotian air force. ‘The day before, two attacks on North Vietnam…had taken place,’ writes scholar Daniel C. Hallin. Those assaults were “part of a campaign of increasing military pressure on the North that the United States had been pursuing since early 1964.” (link)

The opportunity for you, the reader, is to become more aware that the currency you are issued by your government is destined to become worthless because history shows that fiat money eventually becomes worthless as politicians cannot help themselves but to spend it out of existence.   Gold and silver are the only reliable alternatives to fiat money in this day and age of hyperinflation and deflation.

Silver and gold are and always have been a popular investment in times of uncertainty, but also in times of avarice. Smart investors know that keeping a small or medium sized amount of hard metal in any portfolio is keen thinking. The following article explains in detail what it is meant by investing in hard metals.

Bob Prechter on Silver & Gold
April 2, 2009

By Nico Issac

In case you hadn’t noticed: Over the past year of financial turmoil, the “safe haven” premium of precious metals has offered about as much support as a rubber ducky in a tsunami. Despite a string of powerful rallies, silver and gold remain well below their March 2008 peaks.

It goes without saying that the greatest opportunities in precious metals were not had by those who played the “disaster hedge” card; but rather by those who timed the trends as they developed, regardless of the fundamental backdrop.

Bob Prechter is in the latter group. Amidst the buzz and whirl of the most bullish backdrop in precious metals’ recent history, gold and silver prices soared to new, all-time highs and calls for a “New Gold Rush” and “$30 Silver” flooded the mainstream airwaves. Yet Bob alerted subscribers to an approaching top in the March 14, 2008 Elliott Wave Theorist.

“The wave count [in silver] is nearly satisfied, though ideally it should end after one more new high. If this analysis is accurate, and silver does peak and begin a bear market, gold is likely to go down with it.”

In the days that followed, prices in both metals fell off a cliff. In turn, Bob was asked to address his exceptional call for a turn down in a March 19, 2008 Bloomberg interview. Here are of excerpts from that conversation:

Bloomberg: “Why did you put out that call on Friday (March 14) about a peak in precious metals?”

Editor’s Note: You can download Bob Prechter’s 5-page report, Gold & Recessions, free from Elliott Wave International. It features 63 years of historical analysis that reveals how gold, T-notes, and the DJIA have performed in recessions and expansions.

Bob Prechter: “One of the reasons is that it seemed like an absolutely sure thing. We track several indicators of sentiment. One of them is the Daily Sentiment Index (DSI). That reached 98% bulls on a one-day basis going into this last high. We were tracking silver as well… as it is clearest in our minds. Now, at the time, we needed one more slightly new high. That happened Monday morning and silver dropped 15% in 48 hours. That’s a heck of a reversal and I think it’s real.”

“Real” indeed: From their March peaks, gold prices plummeted 34%, alongside a 60% sell-off in silver before hitting the breaks in October. Here, the October 2008 Elliott Wave Financial Forecast prepared for a corrective rebound and wrote:

“Silver traced out a five-wave decline from its March peak…Gold should also rally as silver pushes higher. Once silver’s rise is exhausted (initial target: $15.15), the larger downtrend should resume for both metals.”

A powerful, four-month bounce ensued in both metals: Gold prices came within kissing distance of its March peak before turning down on February 20; silver followed suit — a fulfillment of this bearish, near-term insight presented in the February 23 Elliott Wave Theorist:

“Silver has been clear as a bell. Silver is due to turn back down, and gold, which is back at $1000/oz, is likely to follow.”

Since then, it’s been a steady march lower for both metals. Obviously, EWI’s forecasts do not always prove this accurate. Yet in this case the analysis speaks for itself.

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For more metals analysis from Bob Prechter, download Gold & Recessions a free 5-page report from Elliott Wave International. It features 63 years of historical analysis that reveals how gold, T-notes, and the DJIA have performed in recessions and expansions.

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Robert Prechter, Certified Market Technician, is the founder and CEO of Elliott Wave International author of Wall Street best-sellers Conquer the Crash and Elliott Wave Principle and editor of The Elliott Wave Theorist monthly market letter since 1979.

It’s been said that when the United States sneezes, Canada gets a cold. We will explore the ramifications of the upcoming Greatest Depression and how it will affect Canada.

The whole world is suffering right now for 2 reasons: America is the world’s biggest debtor; meaning the creditors they owe money to will likely not get their money back, but also because the world is propping up the US economy. As the US government finances more debt for all the stimuluses and government expenditure, the rest of the world must loan more money for the US. THis is crowding out credit that could be more productively used. If they simply abandoned support of the US currency (like countries who peg or band their currency to the US dollar), and if they understood that they coiuld let the dollar fall, the US economy would suffer, but their currencies might improve.
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This might all seem very anti-American, but the real truth is that these countries subsidizing the US economy (like China’s pegging/manipulating their currency and buying US debt) are spoiling the US economy with easy money. They are like the drug pusher who keeps giving money to the US addicted to cheap, easy money. What the US needs is tough love.

It is predicted that the Canadian dollar will rise while the US dollar keeps deteriorating. The questions is, how will it do against other currencies around the world like the Australian dollar which is doing well? How will it do against the Euro? It’s difficult to say. The Canadian dollar will definitely rise against the US dollar and be weaker against the Asian currencies, for sure.

Looking at an acquaintance who owns about 2 million dollars worth of real estate in the Canadian market: should someone with much real estate liquidate their assets? Many predictions show that real estate is about to drop significantly and will not stop anywhere in the near future. Indeed, a recent report by Macleans Magazine has tuned into the predicted 20-25 percent drop in real estate prices as evidence. New data on the plunging housing market suggests that those relatively upbeat assessments are wrong, and Canada could see a 20 per cent drop in average house prices between now and late 2011. If sophisticated investors are correct, it might be close to a decade before we once again see prices as high as they were last summer. (http://www2.macleans.ca/2009/02/23/the-shocking-truth-about-the-value-of-your-home/).

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One of Canada’s top economists, who spoke on condition of anonymity, says that he questions a lot of the numbers coming out of the real estate sector in Canada. “There’s clearly a lot of spin,” he says. Even the CMHC, which promotes home ownership and depends on home sales to sell mortgage insurance, has an interest in seeing the market prosper. “There is quite a lot of uncertainty regarding the market in general right now, and there are too few uninterested parties who are giving any sort of reasonable analysis on that outlook.”

It’s important that you not only own gold, but also important to own it out of the United States, because they might confiscate it as they did during the 1930s. If the US government does make it illegal to own gold, and you have a safety deposit box, you likely will never get it out.  Indeed,  the The Executive Order 6102 required most people to deliver on or before May 1, 1933 all but a small amount gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of Executive Order 6102 was punishable by fine up to $10,000 ($166,640 if adjusted for inflation as of 2008) or up to ten years in prison, or both. Because of this forced immediate sale of gold to the Federal Reserve at the government set price of $20.67 per troy ounce, this Executive Order is often referred to as the Gold Confiscation of 1933. Shortly after this forced sale, the price of gold from the treasury for international transactions was raised to $35 an ounce; the U.S. government thereby devalued the U.S. dollar by 41%.
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Order 6102 specifically exempted “customary use in industry, profession or art”–a provision that covered artists, jewelers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins ($1,664 if adjusted for inflation as of 2008; a face value equivalent to five troy ounces of Gold).

Gold and Silver, as is all of creation, are from God, and given to man for good use, for a useful purpose. (Genesis 1:28, Gen 2:12.) Gold, silver, seed, and flour, were all used as money. (Lev 27:16, 2 Kings 7:1) The vast majority of the time that gold and silver are mentioned in the Bible, it is in reference to the wealth of the kings of Israel or to the wealth of the temple of the Lord. Gold and silver were used in the workings and furnishings of the ark of the covenant, and the vessels in the temple. Therefore, gold is definitely the approved by God for men to use as money and as a store of wealth.

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With that, my advice for you is to purchase a vault — like people used to own prior to 1971 — and store your precious metals in it so the government cannot easily confiscate your assets as if it were sitting in a vault in the bank.

Godspeed.

When I was younger I remember my mother and some other family members who used to live in Italy that the rich people in their country were rarely, if ever, taxed on their income and fruits of their labour. For a while there (10 years or so) I went through life thinking that rich people were never taxed and naturally became somewhat suspicious of people who were raking in billions of dollars (and rightly so).

While those of us who are poor and do not make millions of dollars a year would like to agree with the statement, I cannot help but think that it is a completely incorrect judgement to make to think that rich people are never taxed. This is because during my time attending University studying political economy, I came upon a series of realizations.

The truth is just the opposite of what many poor and middle-class people are told today. The truth is that rich people pay the most taxes in most of the world, and they pay the highest percentage of their own income to taxes and government taxation. Let’s look at the numbers: In 2003, 34.3 per cent of the entire Federal US budget was paid for by the top 1 percent income earners. While 65.8 per cent was paid for by the top 10 per cent, and almost 84 per cent of the Federal budget was paid for by the top 25 per cent income earners. Clearly the vast majority of income taxes are paid for by the wealthy people in the world.

In 2004 the top 1 per cent of income earners paid 31.1 per cent of their income to the Federal government; while the top 10 percent paid 26.9 per cent; the middle quantile paid 13.9 per cent; and the lowest income earners paid 4.5 percent of their income to taxes. These numbers include social security, paid for by the money that comes out of your cheque, as well as the payroll taxes your employer pays to the government.

Let’s look at how a wealthy company pays taxes: Berkshire Hathaway is owned primarily by wealthy investors. They paid 4.4 billion dollars in taxes in 2006. To give you an idea of how much money this is, let’s illustrate: the Federal government spends about 7 billion dollars a day. If we had just 600 taxpayers like this company, the other 300 million Americans would not have to pay any income or social security taxes at all.

There is a way to get rich people to pay less taxes and this is to raise their income tax rate. How does this work? From 1980, the top tax rate in the US was 70 per cent and today it is 35 percent. At that time the top 1 per cent of income earners’ share of the Federal budget was 19.3 per cent and today it was 34.4.

Australia is the developed country with the highest tax rate on the rich, but have the lowest per cent of their budget paid for by the rich; their top tax rate is 47 per cent, compared to US 35 percent; there the top 5 per cent paid 30.2, compared to the US 50.4 per cent paid for by the top 5 per cent.

Clearly when tax rates falll, rich people pay more, and how low can we go? We don’t know because we haven’t lowered the tax rate enough to apoint where the rich people have paid more money when we have lowered the taxes. Also, if we lower the tax rate, the rich people will pay a smaller portion of the Federal budget. How do we make up the difference? Raise the middle-class taxes. So if you would rather give more of your money to the government, vote for someone who wants to tax the rich class.

According to the Office of Tax Analysis, the U.S. individual income tax is “highly progressive,” with a small group of higher-income taxpayers paying most of the individual income taxes each year.

• In 2002 the latest year of available data, the top 5 percent of taxpayers paid more than one-half (53.8 percent) of all individual income taxes, but reported roughly one-third (30.6 percent) of income.
• The top 1 percent of taxpayers paid 33.7 percent of all individual income taxes in 2002. This group of taxpayers has paid more than 30 percent of individual income taxes since 1995. Moreover, since 1990 this group’s tax share has grown faster than their income share.
• Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes. In all years since 1990, taxpayers in this group have paid over 94 percent of all individual income taxes. In 2000, 2001, and 2002, this group paid over 96 percent of the total.

Source: U.S. Treasury, Office of Tax Analysis

Jury says refusal to pay tax not crime
Sonja Puzic and Dave Battagello
Windsor Star Tuesday, June 27, 2006

A Superior Court jury ruled late Monday that a Windsor optometrist was not guilty of tax evasion when he refused to pay nearly $350,000 in income taxes over five years.

Dr. Jack Klundert hugged his lawyer, Doug Christie of British Columbia, and wiped tears from his face and glasses after the jury was discharged. He smiled faintly at his wife, who sat in the courtroom and took notes.

Superior Court Justice Joseph Quinn thanked the jury for tackling “the complex issue. “These decisions are not easy to make,” he said.

Klundert, 53, was standing a second trial for tax evasion under the Income Tax Act. He failed to pay $348,231 in taxes on income estimated at $1.5 million between 1993 and 1998. Klundert was found guilty of making a false statement on a tax return in 2002 and fined $80,000. He was also ordered to enrol in a constitutional law course as part of his two-year probation. But the Court of Appeal found fault with Superior Court of Justice Steve Rogin’s instructions to the jury and Klundert took his protest against Revenue Canada to court again.

He told the jury he wrote zero income on his tax forms because he believed the federal government had no constitutional right to pursue him. He said disclosing his earnings to the government would be like “sitting down with thieves” and telling them where his valuables are kept.

This is extremely frightening indeed. The United States appears to be losing its hegemonic status as the currency to which the majority of the world trades their goods and services, notably crude oil since 1971.

Now is the perfect time to purchase more silver and gold. Silver is very reasonable these days compared to the hype gold is given by hard-money enthusiasts.

At G20, Kremlin to Pitch New Currency
17 March 2009

By Ira Iosebashvili / The Moscow Times

The Kremlin published its priorities Monday for an upcoming meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.

The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using its already existing Special Drawing Rights, or SDRs, as a “superreserve currency accepted by the whole of the international community,” the Kremlin said in a statement issued on its web site.

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Well, it looks pretty bad for the United States of America and especially the rest of the world who depends on the US dollar as a reserve currency (and have invested their savings in American debt).

The United States was once the most powerful industrious powerhouse in the world, but has fallen from these highs ever since Nixon took office (and possibily earlier than that). I mention Nixon because he took the US dollar off the gold standard and began the issuance of “fiat currency” based solely on the US dollar as the “standard” (traded on oil) around the world. “Fiat” means “government-issued” currency, but in the case of Nixon’s overseeing of the change of the Bretton Woods agreement, the US dollar virtually replaced gold or other hard metals as the reserve currency of which a majority of governments held significant quantities of.
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