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AnonyMint (OP)
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March 27, 2014, 07:36:37 PM |
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On the recent IRS ruling that BTC is property subject to capital gains on disposal of coins, and that miners must additionally pay income tax on the value of the BTC when mined, someone thinks being outside the USA will help but they are sorely mistaken... The IRS has gotten it all wrong. All their statement will do is push onshore people to offshore services and companies where they cannot be taxed. I live and work in an offshore country where there are no capital gains taxes and cryptos aren't taxed in any shape or form. I'm already seeing a rise in what can best be described as "offshore crypto farms"...
As a former Treasury official was purported to have said, "we will burn the fingers of the goldbugs up to their armpits". And he also said, "its our dollar and your problem". http://armstrongeconomics.com/2014/03/24/the-real-conspiracy-the-imf-tax-agenda/Obama is on board fully with the IMF agenda to raise taxes substantially French style. The IMF has been behind the scenes going to every former tax shelter and threatening them to turn over data. They have hit the Caribbean islands right down to Panama. Obama has laced the Ukrainian aid with the IMF Poison Pill. The IMF wants a shit load of money to tear apart the global economy in search of unpaid taxes. The Obama Administration has conspired with the IMF behind closed doors and entirely out of the Congress to pursue this secret agenda. They are on the path to destroy Western Civilization as we know it. This is no joke. I hope you also understand that FATCHA will compel the nations of the banks in all nations to comply and remember the developing world is short the dollar due to massive bond issues in dollars to the ZIRP carry trade. The USA is still in control of the world as we go into this implosion 2016ish. My understanding is FATCHA does not require us to declare assets we hold overseas which are not in an "account", i.e. Nestmann said we probably do not need to report bullion that we hold in our homes, yet we would need to report (even allocated) bullion in any overseas account.
Are Bitcoins a private asset or an account? And where do they reside in our possession or in the public ledger? And where does the public ledger reside?
The problem is that governments (IRS in particular) invariably interprets laws in the way that brings them the most income. So I think they can argue (in their Kangaroo rigged courts) that since the public ledger resides in at least one computer overseas, then it is reportable under FATCHA.
Okay so no big deal right? Just report it. Well what about all of you who did not report on time already and held an account that was ever worth more than $10,000? You are already liable for 5X the maximum value of the unreported account in penalties plus 5 years jail time.
And reporting marks us in the IRS computers as "potential tax avoiders". The chance of audit drastically increases.
This is one of those issues that caused me to think it just isn't worth investing in Bitcoin without 100% reliable anonymity.
I am eager for someone to refute my analysis on this.
Disclaimer: consult your own tax attorney, I am not providing tax advice, merely discussing this issue.
Regarding the illuminati fears... superstitious is the end of reason.
Those who confuse superstition with exquisitely researched facts have lost rationality. See below on what the former IRS Commissioner told Aaron Russo when he was making the movie about there being no income tax law in the USA. Martin Armstrong's position has been there is no proof of a global conspiracy, and he doesn't speculate. That is an acceptable position, except that he continues to assert there is no global conspiracy, which is thus speculation, since he doesn't have any proof to support that assertion. So I urge him to stop being disingenuous and appearing to be a tool of the elite towards a one world currency which he has proposed as a solution to this crisis. As for proof of a global conspiracy, we got a big chunk of proof from Aaron Russo as follows. https://bitcointalk.org/index.php?topic=279650.msg3497509#msg3497509As a Treasury official said some decade ago about the time he also said, "we will burn the fingers of the goldbugs up to their armpits", it has always been the plan to go after the millionaires and steal back all their gains to the elite (skip to 36:35 min of the linked video) who run the fiat system. And Bitcoin is an amazingly great tracking tool to aid them in this coming global confiscation via taxation of the rich process. Note the elite super rich are always excluded from such gestapos. Former (Jewish?) IRS Commissioner and the man who wrote much of the tax code law, said to (Jew) Aaron Russo (producer of Bette Midler, The Rose, Trading Places, etc) in Ashkenazi Jewish Yiddish language, " nothing will help you". Skip to the 37 min point in the linked video. The elite know exactly what they are doing by launching Bitcoin via the fictitious anonymous identity "Satoshi". Nick Rockefeller told Aaron Russo what the goal is. P.S. The Ashkenazi Jews have a much higher average IQ of 117, and many elite are Ashkenazi Jews. The says nothing against all Jews however. Also it is rather incredulous to discount the fact that all the transition to AML, KYC which is enabling this hunt for capital which Martin admits and writes about, was engineered starting with 9/11. And it pretty difficult to discount that 9/11 was not done by 16 guys on camels and was rather engineered by ... (much circumstantial evidence points to Dick Cheney as key cog in the wheel). They evidence that the buildings were not downed with airplanes is overwhelming, even 1000s of architects and engineers have signed a petition saying the government's story is implausible. And this terrorism false flag farce is being used to keep the world locked into a non-default increasing debt trajectory with a hunt for all capital. Precisely what is necessary to drive the world into a severe economic contagion which can usher in a one-world currency type result after destroying the nation-state concept. I am not sure there is a global conspiracy. And it doesn't really affect my actions nor goals any way. So I don't really care. But I am skeptical of a guy (Armstrong) who says speaks against decentralized cryptocurrencies, speaks for a one-world currency solution (with national or regional currencies floating relative to it), and who speaks against the possibility of the global conspiracy without any proof. Just because Armstrong is aware of manipulations at the lower-level echelon of the NY bankers club is not proof that the higher echelon doesn't exist. Logic 101 really.
Update: Armstrong writes today about the $2.3 trillion missing from Pentagon accounting and paperwork was conveniently destroyed at the Pentagon on 9/11. |
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vokain
Legendary
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Activity: 1834
Merit: 1019
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March 30, 2014, 03:06:51 PM |
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Can you have perfect trust with perfect anonymity? Or are they dynamic dualities
I'm having trouble conceiving how trust might work with perfect anonymity and vice versa
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counter
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March 31, 2014, 05:08:02 AM |
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I want to say no but that also depends on a few things. If the rights of citizens are continually taken away and they don't fight back then I suspect no not by 2012. But I aslo could see things getting to that point if he do fight back but don't respond soon enough.
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AnonyMint (OP)
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April 03, 2014, 03:29:55 AM |
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Armstrong has written in the past that when he writes a rumor it always comes from a very high level source (and he has many connections in government he even hobnobs with the central bankers, Congressmen, etc): http://armstrongeconomics.com/2014/03/30/even-cuba-abandons-communism-when-will-we/Obama’s dream – raise taxes back to where they were before Reagan – 70%. That is the word behind the curtain and he may use war to accomplish that. The following audio interview is an eyeopener (listen to the whole thing as it adds a lot that isn't quoted below): http://www.dailypaul.com/314402/complete-breakdown-of-financial-controls-in-us-government-says-austin-fittsFormer HUD Assistant Housing Secretary and investment advisor Catherine Austin Fitts...
“I don’t see Obamacare as something designed to offer healthcare. … I think the question comes down to a bigger one, which is, are we going to create a society where one hundred percent of everything is digitized and under central control?”
“Well, you have a complete breakdown of internal financial controls in the US government. … You had over $4 trillion of what is called undocumentable adjustments and to this day, [these agencies] have never, as required by law, produced audited financial statements.”
“In my experience, government is not incompetent at all. … Gridlock is a cover story, incompetence is a cover story. There is a plan, you just can’t see what it is.” |
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AnonyMint (OP)
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April 04, 2014, 04:44:40 AM
Last edit: April 04, 2014, 05:52:34 AM by AnonyMint |
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AnonyMint (OP)
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April 06, 2014, 07:22:55 AM |
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http://armstrongeconomics.com/2014/04/05/lagarde-part-ii/Increasing the money supply will NOT be inflationary when you are offsetting that by raising taxes. If the total money supply is $1,000 and I tax you 20% leaving you $800, increasing the money supply at $1,500 and raising taxes to 50% is still deflationary for you end up with less – $750. Absolutely everything is balanced. This is why the cause and effect scenarios fail every time – it is a bell curve in everything. Armstrong forgets to make the point that increasing the money supply can increase the general price level causing income, capital gains, and VAT taxes to be higher, while there no net gain in purchasing power. Thus increasing the money supply even while holding taxes constant, actually eats purchasing power. Whereas increasing money supply with no taxes at all, would not harm purchasing power.
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AnonyMint (OP)
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April 07, 2014, 11:22:48 AM
Last edit: April 07, 2014, 11:41:39 AM by AnonyMint |
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The other reason the emerging markets will accelerate their decline after July 1, 2014 and dollar+NYSE will rally: http://armstrongeconomics.com/2014/04/06/the-man-who-thought-he-was-king-and-wants-to-rule-the-world/July 1st because of the new FATCA reporting requirements If anything, it will cause a capital contract back in the USA and that is behind a dollar rally – not collapse.FATCA was passed back in 2011 and introduced by one of the most dangerous Democrats on Capitol Hill – Harry Reid. He is as much a Marxist and so extreme left he makes the perfect bookend to match McCain who never saw a county he would not invade. FATCA was passed back in 2011 and ever since Americans have been thrown out of banks on a worldwide basis. I have reported how FATCA is destroying the world economy – not the dollar. It should be noted that highly unusually, FATCA was not subject to a cost/benefit analysis by the House Ways & Means Committee because nobody dared to look at what they KNEW was unconstitutional and treated ALL American citizens as economic slaves. [snip] Under international law, FATCA is clearly a violation for it is imposing requirements on institutions outside the USA over which they have NO territorial jurisdiction. FACTA considers the entire world belongs to the IRS. FATCA requires foreign financial institutions (FFI) of broad scope – banks, stock brokers, hedge funds, pension funds, insurance companies, trusts – to report directly to the IRS all clients’ accounts owned by US Citizens and US persons (Green Card holders). [snip] If a [foreign] institution does not comply, the US will impose a 30% withholding tax on all its transactions concerning US securities, including the proceeds of sale of securities on that institution;s entire business. In addition, FATCA requires any foreign company not listed on a stock exchange or any foreign partnership which has just 10% U.S. ownership to report to the IRS the names and tax I.D. number (TIN) of any US owner. [snip] thank you so much Nevada for infecting the world with this crazy Marxist. Even Hitler respected the sovereignty of Switzerland and did not invade them simply because Germans had accounts there. Reid respects no borders nor does he respect the Constitution or International Law. |
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AnonyMint (OP)
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April 09, 2014, 03:12:44 AM |
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Cross-posting...
I was at the SM Lanang mall yesterday. Ate some overpriced, delicious burritos and soft tacos at Army Navy. Didn't think we had that kind of food here in Davao. Amazed me to see basically the quality of any modern city in the world imported into formerly third world Davao, Mindanao, Philippines, which didn't even have street lighting in 1994. First time I had gone any where other than local el cheapo barbecue since I had returned from Hong Kong in January. The point I want to make with these photos, is notice even the ladies have stopped wearing their shorts and blue jeans and are adopting expensive clothing. This is in a third world country! The point I am making is that do the following photos agree with the reality of the following financial calculations? http://blog.mpettis.com/2014/03/will-emerging-markets-come-back/#comment-22683http://www.forbes.com/sites/jessecolombo/2013/11/21/heres-why-the-philippines-economic-miracle-is-really-a-bubble-in-disguiseWhat you see below is central bank QE ZIRP carry trade, pumping massive amount of debt into the developing world. Philippines exports 1/6 of its population to work overseas, and probably at least 50% is manual labor (maids, drivers, cooks, etc) which will be laid off in a 50% technological and debt default unemployment scenario. You can see the official data that this primarily comes from United States, Europe, the Middle East, and East Asia in that order of significance. So my point is that those who think the crisis can't possibly happen because look at how good our lives are now, are ignoring the effect that contagion can have. The following is a temporary illusion. This will come back again in the future, but after 2016 the following is going to diminish for some years.          $20 per head Vikings all you can eat luxury buffet:             |
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EasySam
Newbie
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Activity: 37
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April 09, 2014, 11:29:07 AM |
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It is not really even close to madmax xd
First of all it is mainly USA.You might get surprised but world doesn't end there.
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AnonyMint (OP)
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April 09, 2014, 03:50:02 PM |
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Zombification of America - Welcome To Terminus, Collapse will be Sudden http://www.marketoracle.co.uk/Article45117.htmlIt is unlikely that collapse of civilization as we know it will happen due to some extreme event such as nuclear war, super volcano, or asteroid. When our central banker masters of the universe trigger the next financial system collapse, with no monetary bullets of debasement left in their pop gun, the resulting chaos when ATMs stop spitting out $20 bills and EBT cards for 47 million people stop functioning at Wally World will be epic. We got a glimpse into the future this past October when the EBT system went down in several states for a few hours on a Saturday afternoon. Zombies began to ransack Wal-Mart stores attempting to steal as much as they could get away with. Chaos, anger and criminal behavior was virtually instantaneous. A vast swath of EBT dependent zombies live in our numerous urban ghettos and when the EBT system goes down permanently violence will quickly erupt. Police will be vastly out-numbered, hungry mobs will become armed gangs of violent looters burning down their ghettos, ransacking and plundering businesses, stores and homes, and stealing everything that isn’t nailed down. Visualize the L.A. riots after the Rodney King verdict in every urban area in the country.
The fragility of our debt financed oil dependent just in time global supply chain system is beyond the comprehension of the average zombie American. They are too distracted by mass consuming the products dependent on that very same fragile scheme. They are clueless zombie-like dupes who believe $20 bills magically appear in ATMs, Funyuns and Cheetos miraculously materialize on Wal-Mart shelves, gasoline endlessly bubbles up from the ground into the hose they stick in their $40,000 monster SUVs “bought” with a 0% seven year loan from Ally Financial, and that enchanted plastic card with a magnetic strip empowers them to fulfill every craving like a zombie feeding on a dead carcass.
[snip]
The cracks in this delusionary foundation are visible for all to see as Space Available signs outnumber actual businesses, pothole dotted highways deteriorate, sewer lines crack, and houses in disrepair outnumber those being kept up. It takes money to keep a home from deteriorating and it happens to be in short supply for 90% of the population. Despite the non-stop money printing operation at the Fed and the mainstream media fantasy stories of shale oil energy independence, the suburban dream is turning into a nightmare. When the inevitable financial implosion strikes in the next few years, the illusion of progress will come to an end. The inner cities will explode in violence and will burn. The police will be helpless and scared. There will be death on a large scale.
Suburbia will turn into a lawless landscape where neighbors turn on each other, as they have failed to create real communities. The isolation and seclusion which have marked suburban existence for the last thirty years will contribute to the creation of criminal gangs looting and pillaging stores, businesses and unprotected homes. After the collapse the only people likely to survive relatively unscathed are rural folk. Farmers, ranchers and those capable of living off the land have the abilities to endure a breakdown in our modern society. These people are prepared, know how to use firearms and create communities of self-sufficiency. No one will thrive in the world coming our way, but those not dependent upon or tied to our modern societal paradigm have a better chance to survive.
[snip]
A fruitful community that chooses decent honorable leaders, adopts a moral code, treats all members with respect, encourages hard work and accountability, and plans for the future, will reap the benefits of sustainability and stability. |
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alxs
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April 09, 2014, 04:06:07 PM |
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What a delightful image the author paints...
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CoinCube
Legendary
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Activity: 1946
Merit: 1055
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April 09, 2014, 04:44:28 PM |
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Indeed hopefully the collapse described the zombification of America can be mitigated by innovation.
It is eerie how reality can sometimes mirror fiction. Our current plight is not all that dissimilar to that of the Foundation in Isaac Asimov classic trilogy. The current empire economic order is gradually slowly and inevitably dying. It cannot be saved as its very nature makes it unsustainable.
All those of us who understand the problem can do is to try to avoid being destroyed in death throws of the dying order and work to minimized the duration and severity of the collapse.
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alxs
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April 09, 2014, 04:53:09 PM |
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Indeed hopefully the collapse described the zombification of America can be mitigated by innovation.
It is eerie how reality can sometimes mirror fiction. Our current plight is not all that dissimilar to that of the Foundation in Isaac Asimov classic trilogy. The current empire economic order is gradually slowly and inevitably dying. It cannot be saved as its very nature makes it unsustainable.
All those of us who understand the problem can do is to try to avoid being destroyed in death throws of the dying order and work to minimized the duration and severity of the collapse.
well said |
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AnonyMint (OP)
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April 11, 2014, 03:28:38 AM |
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I will probably cease my frequent updates after this post. Perhaps others will read Armstrong and update here. http://armstrongeconomics.com/2014/04/10/china-exports-fall-for-2nd-month-in-a-row/The numbers are in for March and China’s, the world’s second-largest economy, showing exports and imports fell dramatically adding to the declining emerging market sector. This merely confirms what we have been forecasting that the bear market in emerging markets began in 2007 and will not bottom until 2020 on as 13 year decline and the US is alone in holding up the global economy. China’s exports fell by 6.6% in March when compared with the previous year while the imports dropped by 11.3% in the same month (year/year). The February decline in exports came in at 18.1%. This appears to be picking up momentum now as this is the first time since 2009 that exports have fallen for two months in a row. http://armstrongeconomics.com/2014/04/10/cold-war-2-setting-up-for-the-fall-putin-staring-into-the-eyes-of-a-dead-corpse/Cold War 2 is having a major ripple effect throughout the global economy that is setting it up for the next great crash after 2015.75. The Russians have been buying up real estate in Europe as well as the USA moving off the grid especially after Cyprus. They came to learn – you cannot trust banks controlled by politicians. They have been buying high-end property in NYC, California, and Florida in the United States. Guess What? This trend is suddenly coming to a screeching halt! Why? Cold War 2.
[snip]
The entire Spanish housing boom was created to sell real estate to the Russians in order to support the collapse in real estate prices as their banks were unable to lend money for mortgages. Buying property in Spain got you residency – and that was a prize possession to both Russian and Chinese. |
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AnonyMint (OP)
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April 11, 2014, 05:44:10 AM |
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The only countries in Europe which are not below 0.3% growth are Slovakia, Austria, Malta, Estonia, Germany, and Ireland. And most of those are below 1%. Several are already below 0%. And all are on a trajectory to fall below 0% by late next year. Europe looks like it is very close to erupting into contagion and chaos. Read also my prior post, the Russian sanctions should chase away Russian and Chinese capital ingress, that should be the final sliver of accumulated straw that breaks the European camel's back. http://www.bbc.com/news/business-13361934 |
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trainingsengineering
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April 11, 2014, 11:25:14 AM |
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Updates from armstrongeconomics.com http://armstrongeconomics.com/2014/04/11/socialism-at-its-best-how-to-destroy-the-wealth-of-a-nation/Socialism at its Best – How to Destroy the Wealth of a Nation
This in no longer about “social justice” – it is about “tax-farming” as the Romans called it. This is all about lining the pockets of those in government so they need not reform. This is merely Adam Smith;s Invisible Hand. It is the government’s self-interest to exploit everything they can from the people and it matters not what country we are talking about these days nor the political system. This is why Communism collapsed and it is why the West will collapse. There is simply no viable alternative to the outcome we face. You cannot say hey – look at this. They will not listen. You are asking for them to reform and they will NEVER act other than their own self-interest as long as they can get away with it. This is why Jefferson said revolution was part of the cycle and necessary. Homeland Security did not buy tanks to protect the people from terrorists, they needed 2700 tanks for street use to protect government from the people.
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The ONLY political system that has any possible hope of surviving greater extended periods of time is one where ALL agencies are privatized and that the bureaucratic portion of government be ONLY career. The elected body must be with a term limit of one year and NEVER again. This is the only way to ensure that government does not engulf and dominate society for if the head of state revolves annually, they will NEVER pass a law they KNOW will apply to them the following year.
We need to eliminate the MOST DESTRUCTIVE force within society and that is its direct taxing power. Money is the total productivity of a nation – not its natural resources nor its gold reserves. Japan rose to the second largest economy with gold or natural resources and PROVED that Adam Smith was correct as was Ayn Rand – it is the TOTAL productivity of the people that is the Wealth of a Nation. Nurture that – and you will save the future from repeating the destruction of the past.
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