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Topic: Is a Madmax outcome coming before 2020? Thus do we need anonymity? - page 24. (Read 102801 times)

newbie
Activity: 12
Merit: 0
The clawback has started. The fed is trying to clawback money even if they can produce no record keeping. Sure, if debt is owed it must be paid, but in these cases where someone else incurred it's pretty crazy.

http://www.washingtonpost.com/politics/social-security-treasury-target-hundreds-of-thousands-of-taxpayers-for-parents-old-debts/2014/04/10/74ac8eae-bf4d-11e3-bcec-b71ee10e9bc3_story.html

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A few weeks ago, with no notice, the U.S. government intercepted Mary Grice’s tax refunds from both the IRS and the state of Maryland. Grice had no idea that Uncle Sam had seized her money until some days later, when she got a letter saying that her refund had gone to satisfy an old debt to the government — a very old debt.

When Grice was 4, back in 1960, her father died, leaving her mother with five children to raise. Until the kids turned 18, Sadie Grice got survivor benefits from Social Security to help feed and clothe them.

Now, Social Security claims it overpaid someone in the Grice family — it’s not sure who — in 1977. After 37 years of silence, four years after Sadie Grice died, the government is coming after her daughter. Why the feds chose to take Mary’s money, rather than her surviving siblings’, is a mystery.

Across the nation, hundreds of thousands of taxpayers who are expecting refunds this month are instead getting letters like the one Grice got, informing them that because of a debt they never knew about — often a debt incurred by their parents — the government has confiscated their check.

The Treasury Department has intercepted $1.9 billion in tax refunds already this year — $75 million of that on debts delinquent for more than 10 years, said Jeffrey Schramek, assistant commissioner of the department’s debt management service. The aggressive effort to collect old debts started three years ago — the result of a single sentence tucked into the farm bill lifting the 10-year statute of limitations on old debts to Uncle Sam.

“It was a shock,” said Grice, 58. “What incenses me is the way they went about this. They gave me no notice, they can’t prove that I received any overpayment, and they use intimidation tactics, threatening to report this to the credit bureaus.”

Grice filed suit against the Social Security Administration in federal court in Greenbelt this week, alleging that the government violated her right to due process by holding her responsible for a $2,996 debt supposedly incurred under her father’s Social Security number.

Social Security officials told Grice that six people — Grice, her four siblings and her father’s first wife, whom she never knew — had received benefits under her father’s account. The government doesn’t look into exactly who got the overpayment; the policy is to seek compensation from the oldest sibling and work down through the family until the debt is paid.

....

The Federal Trade Commission, on its Web site, advises Americans that “family members typically are not obligated to pay the debts of a deceased relative from their own assets.” But Social Security officials say that if children indirectly received assistance from public dollars paid to a parent, the children’s money can be taken, no matter how long ago any overpayment occurred.

“While we are responsible for collecting delinquent debts owed to taxpayers, we understand the importance of ensuring that debtors are treated fairly,” Treasury’s Schramek said in a statement responding to questions from The Washington Post. He said Treasury requires that debtors be given due process.

Social Security officials told her they had sent their notice to her post office box in Roxboro, N.C. Grice rented that box from 1977 to 1979 and never since. And Social Security has Grice’s current address: Every year, it sends her a statement about her benefits.

“Their record-keeping seems to be very spotty,” she said.

Treasury officials say that before they will take someone’s refund, the agency owed the money must certify the debt, meaning there must be evidence of the overpayment. But Social Security officials told Grice they had no records explaining the debt.

“The craziest part of this whole thing is the way the government seizes a child’s money to satisfy a debt that child never even knew about,” says Robert Vogel, Grice’s attorney. “They’ll say that somebody got paid for that child’s benefit, but the child had no control over the money and there’s no way to know if the parent ever used the money for the benefit of that kid.”

Grice, the middle of five children, said neither of her surviving siblings — one older, one younger — has had any money taken by the government. When Grice asked why she had been selected to pay the debt, she was told it was because she had an income and her address popped up — the correct one this time.

.....


hero member
Activity: 518
Merit: 521
Dollar will rise +50% against basket of major currencies such UK pound, Euro, Yen mostly of the rise coming in a phase transition after 2015.75 (Sept 2015).

This is because the world will go into chaos, and everyone who sticks with the mainstream financial system will run into the dollar and the US military for safe haven. Socialism always huddles together over the cliff together. See my point about organisms in a Petri dish.

http://armstrongeconomics.com/2014/04/11/why-does-deflation-cause-the-currency-to-rise/

Quote from: Armstrong


hero member
Activity: 518
Merit: 521
This shit is really F.U.B.A.R. out-of-control:

http://armstrongeconomics.com/2014/04/11/socialism-at-its-best-how-to-destroy-the-wealth-of-a-nation/

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You know there is tax competition amongst states and cities in Switzerland which lead to great results once in terms of efficiency and therefore attracting people to take their families and move to states with lower taxation. Often quite outside of the metropoles so also helping to populate remote parts of the country.

Of course, one day the traditional high tax states got jealous, amongst them the state of Bern with the capitol and politicians there. So they introduced a new system of taxing all states and allocating the tax income of efficient states to the inefficient ones, thereby turning the competitive Swiss tax system upside down.

As a result now for 2013, the state of “Schwyz”, according to all statistics one of the states with lowest expenses for administration, with a fully balanced budget, and highly attractive for many “rich” families, turned into the state with the highest deficit per capita – precisely to the amount which has to be allocated to other states..

The perversion is – the allocation is not based on real tax income – you would be able to manage – no, it is based on how high you COULD tax your citizens based on their wealth and income ! So, the more you attracted people with high income and assets in the past due to low taxes, the more you now have to send to other states – but since you did not earn that money you now have to borrow this first and then increase taxes to amortize..

Marty, everywhere in this world there is socialism at its best.. even in the most direct democracy [Switzerland] of this planet.
newbie
Activity: 12
Merit: 0
Updates from armstrongeconomics.com

http://armstrongeconomics.com/2014/04/11/socialism-at-its-best-how-to-destroy-the-wealth-of-a-nation/

Quote from: armstrongeconomics.com
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.

...

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.

hero member
Activity: 518
Merit: 521
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
hero member
Activity: 518
Merit: 521
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/

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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/

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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.
full member
Activity: 164
Merit: 100
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
legendary
Activity: 1946
Merit: 1055
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.

full member
Activity: 164
Merit: 100
What a delightful image the author paints...
hero member
Activity: 518
Merit: 521
Zombification of America - Welcome To Terminus, Collapse will be Sudden

http://www.marketoracle.co.uk/Article45117.html

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It 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.
newbie
Activity: 37
Merit: 0
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.
hero member
Activity: 518
Merit: 521
hero member
Activity: 518
Merit: 521
hero member
Activity: 518
Merit: 521
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/

Quote from: Armstrong
Quote
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.
hero member
Activity: 518
Merit: 521
http://armstrongeconomics.com/2014/04/05/lagarde-part-ii/

Quote from: Armstrong
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.
hero member
Activity: 518
Merit: 521
hero member
Activity: 518
Merit: 521
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/

Quote from: Armstrong
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-fitts

Quote
Former 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.”
hero member
Activity: 798
Merit: 500
Time is on our side, yes it is!
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.
hero member
Activity: 518
Merit: 521
Wall Street Journal Online - The Coming Financial Crisis

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

Reply here:

https://bitcointalksearch.org/topic/m.5990966
legendary
Activity: 1834
Merit: 1019
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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