Posts Tagged ‘Marxism’
The radical, Marxist Environmentalist agenda has always been about destroying capitalism and industry. It has nothing to do with “saving the planet.” Since the “science” facade of Global Warming is quickly falling apart, their goal is to impose their agenda by force as quickly as possible before the game is up.
So much for the denials. An administration that throughout its 2012 election campaign denied it was waging a War on Coal has now come out and publicly declared its intention to shut down coal-fired power plants – putting hundreds of thousands of Americans out of work and sending electricity prices skyrocketing.
This is not what the American people voted for.
[…] Obama made clear in his speech that he intends to impose regulations on existing coal plants that can only be met through carbon capture and storage (technology that doesn’t exist on a commercial scale), switching to natural gas, or shutting down completely.
Coal still produces 37 percent of U.S. electricity. A Heritage Foundation analysis found that implementing Obama’s proposed regulation on existing coal plants would destroy more than 500,000 jobs, slash the income of a typical family of four more than $1,400 a year, and increase electricity prices at least 20 percent. Price spikes could be much higher in states that depend heavily on coal-fired power plants, especially in the Midwest. President Obama once famously explained that he intended to make electricity prices “necessarily skyrocket.”
Of course, Obama’s plan is to go around the constitution’s separation of powers and impose his agenda by executive diktat:
Under pressure from environmentalists, President Barack Obama’s new plan to tackle global warming relies on executive power to corral power plants.
The president calls for the Environmental Protection Agency to “expeditiously” set limits on carbon dioxide emissions for new and existing power plants, a move that will be hailed by environmentalists and decried as debilitating by the struggling coal industry.
“To accomplish these goals, President Obama is issuing a Presidential Memorandum directing the Environmental Protection Agency to work expeditiously to complete carbon pollution standards for both new and existing power plants,” states the Obama plan.
[…] Obama’s announcement comes at a time when cracks are starting to show in the science surrounding global warming, as global temperatures stopped rising about 15 years ago.
As dissatisfaction with the U.S. public school system grows, apparently so has the appeal of homeschooling. Educational researchers, in fact, are expecting a surge in the number of students educated at home by their parents over the next ten years, as more parents reject public schools.
A recent report in Education News states that, since 1999, the number of children who are homeschooled has increased by 75%. Though homeschooled children represent only 4% of all school-age children nationwide, the number of children whose parents choose to educate them at home rather than a traditional academic setting is growing seven times faster than the number of children enrolling in grades K-12 every year.
As homeschooling has become increasingly popular, common myths that have long been associated with the practice of homeschooling have been debunked.
Any concerns about the quality of education children receive by their parents can be put to rest by the consistently high placement of homeschooled students on standardized assessment exams. […]
Similarly, the common myth that homeschoolers “miss out” on so-called “socialization opportunities,” often thought to be a vital aspect of traditional academic settings, has proven to be without merit. According to the National Home Education Research Institute survey, homeschoolers tend to be more socially engaged than their peers and demonstrate “healthy social, psychological, and emotional development, and success into adulthood.”
Earlier today, 7 anti-gun bills were defeated in the senate (2 more remain to be voted on Thursday).
Never one to take defeat graciously, Obama threw a full-blown tantrum in the bully pulpit, using Gabby Giffords and the Newtown families as political props as he declared the Senate vote “shameful” and slammed 2nd Amendment advocates as “liars.”
With the failure of the Democrats’ attempt to exploit the Newtown school shooting to press forward gun control measures, President Obama took to the microphones along with the relatives of Sandy Hook victims to demonize his opposition. This, of course, was his strategy all along: knowing that he did not have 60 votes in the Democrat-controlled Senate to pass his gun control legislation, he pressed forward anyway, hoping to paint Republicans as intransigent, immoral tools of the gun lobby who don’t care about dead children. After demonizing Republicans, Obama hopes, he can press Americans into voting Democrats back into power in the House of Representatives.
On Wednesday afternoon, Obama played his part to perfection. Mark Barden, father of a first-grader murdered in Newtown, introduced him. Flanking Obama were other Newtown victims; Vice President Joe Biden, face creased in supposed emotional agony, his arm around the mother of a Sandy Hook victim; and former Congresswoman Gabby Giffords, who has been one of the lead advocate for gun control on behalf of the administration.
“On behalf of the Sandy Hook parents, I would like to thank President Obama and Vice President Joe Biden,” said Mark Barden, father of a first-grader murdered in Newtown. “We will not be defeated. We are not defeated and we will not be defeated ….. I’d like to end by repeating the words by which the Sandy Hook promise begins: Our hearts are broken. Our spirit is not.”
He then introduced President Obama, who blasted away in a carefully calculated and calibrated assault on gunowners, Republicans, and all those with the temerity to disagree on his gun control proposals. Lashing out with more emotion than he has on any issue of his presidency, Obama played up to the cameras, all the while using gun violence victims as a backdrop.
Obama said that he had acted in response to the shooting of Congresswoman Gabby Giffords and Sandy Hook. “Families that had known unspeakable grief,” Obama said, reached out “to protect the lives of all children …. A few minutes ago, a minority in the Senate decided it wasn’t worth it.” Standing on the graves of the children of Sandy Hook has become rote for this president.
[…] All of this was setup for the coup de grace: a request for more power. Because, after all, Obama was never going to win this debate. He didn’t have the votes, he didn’t have the evidence, and he didn’t have a decent piece of legislation to propose. What he did have was unbridled faux moral indignation and a compliant press.
But he needs more. He needs a majority in the House. And he asked for it. “So all in all, this was a pretty shameful day for Washington. But this effort is not over,” said Obama. “If this Congress refuses to listen … the real impact is going to have to come from the voters.”
“The memories of these children demand [gun control],” Obama concluded.
What he meant was obvious: the memories of dead children in Sandy Hook demands that voters give Obama more Senators and more Congresspeople. How convenient for him.
Neither Obama nor the media are interested in hearing from family members of gun violence victims who opposed his gun control scheme, such as this father from Newtown, and the father of 9-year-old Christina Green, who was shot and killed in the Tuscon attack.
They’re only interested in exploiting those grieving families they can use to forward their own political agenda.
Public School Indoctrination: Teaching Kids To Give Up Constitutional Rights, Hate Conservatives and Jews
Earlier this week, an irate mom tweeted a photo her child had taken in class, in which the teacher openly mocked Fox News as an example of “media bias”:
The teacher was trying to explain what media bias looks like. Fox News was the only media example she used (because no other media outlets are biased, dontcha know?). FYI, snarky Wonka memes are an example of TEACHER bias, not media bias.
This is so typical. I remember from my “Critical Thinking” class in college, I could tell you exactly how the textbook authors and teachers voted by the end of the class. Their bias was that obvious. Of course, you expect that now in universities, but it’s already seeped down to grades K-12.
In Wisconsin, a crossword puzzle assigned to 8th graders told students that “conservative” meant “restricting personal freedoms“:
A mother at a Wisconsin public school said her daughter’s eighth grade class was assigned a worksheet with some eyebrow-raising definitions for “conservatism” and “liberalism.”
Conservatism, it stated in part, believes in “preserving traditional moral values by restricting personal freedoms” while liberalism is for “equality and personal freedom for everyone.”
“This is indoctrination,” Tamra Varebrook, a Republican activist in Racine, Wis., told TheBlaze on Thursday after her 13-year-old daughter showed her the crossword-style vocabulary sheet from Union Grove Elementary School earlier this week.
In New York, students were asked to write an essay from the Nazi perspective of “Why Jews Are Evil”:
An unnamed English teacher at Albany High School who wanted to “challenge” his/her students to “formulate a persuasive argument” tasked them with writing an essay about why “Jews are evil,” as if they were trying to convince a Nazi official of their loyalty. One third of the class refused, and the principal has apologized while insisting that there wasn’t any “malice or intent to cause any insensitivities to our families of Jewish faith.”
Only one-third of the class refused. That means, even with the example of principled resistance before them, two-thirds of the class went along with it!
In Florida, a father was stunned to discover this note written in crayon in his son’s handwriting:
The words are written in crayon, in the haphazard bumpiness of a child’s scrawl.
“I am willing to give up some of my constitutional rights in order to be safer or more secure.”
They’re the words that Florida father Aaron Harvey was stunned to find his fourth-grade son had written, after a lesson in school about the Constitution.
Harvey’s son attends Cedar Hills Elementary in Jacksonville, Fla. Back in January, a local attorney came in to teach the students about the Bill of Rights. But after the attorney left, fourth-grade teacher Cheryl Sabb dictated the sentence to part of the class and had them copy it down, he said.
If you think these are isolated incidents that would never happen at your child’s school, think again. These are just the more blatantly obvious ones that happened to get caught. The real indoctrination happens far more subtly, through half-truths and omissions, false assumptions, stories that manipulate the emotions and pressure to agree with the teacher and follow the crowd. Day after day, year after year, they slowly break down the child’s resistance to their view of the world.
Funny how Marxists don’t recognize your unalienable right to keep the fruits of your labor (especially if you happen to be more successful than they think you should be), but they claim that they have a “right” to demand free goodies at the expense of others.
Speaking outside on a sunny day, Harris-Perry says in an ad that aired Wednesday morning:
Americans will always want some level of inequality, because it’s a representation of meritocracy. People who work hard and sacrifice and save their money and make major contributions — we think that they should earn a little more. They should have more resources, and that’s fine. But we also, however, have to have a floor under which nobody falls. And if you’re below that — especially if you’re a child and you’re below that — we are not going to accept that. You do have the the right to health care, and to education, and to decent housing and to quality food at all times. [Emphasis added]
When something is a “right” (your life or conscience, for instance), it means you don’t have to do anything to earn it. You get to have it just for existing. It’s a gift from your Creator.
When you describe goods and services like food and housing as “rights,” you are saying that the people who produce these goods and services are obligated to provide them for you, whether you pay for them or not. There’s a word for this: slavery. Only slaves are forced to produce for others without compensation. TRUE rights come from God, and are unalienable. They cannot be provided by others, who could just as easily take them away.
You have an unalienable right to work and trade for goods and services. You do NOT have a “right” to demand them free of charge from others.
Obama’s ‘Organizing For Action’ Campaign Siphons Donations Away From Democrat Party Leading Up To 2014 Election
As the Democrats prepare to try to take back the House in 2014, they are beginning to realize that Obama’s permanent campaign arm, “Organizing For Action,” isn’t necessarily in their camp. They are competing with the Democrat party for fundraising dollars, and using the money to prop up the Cult of Obama, not the Democrat party.
Anyone who has been paying attention to the Obamessiah’s narcissistic behavior for the past four years could have seen this coming a mile away. Sadly, it appears the suckers at the DNC are only just realizing that their idol’s just not that into them.
President Barack Obama’s decision to launch his own political organization has some Democrats wondering: Is he just in it for himself?
Obama’s new group, Organizing for Action, will focus on his policy agenda – not on electing Democratic candidates – by raising unlimited amounts of cash and accessing the president’s secret list of 20 million supporters, volunteers and donors.
The operation won’t share money, resources or the priceless Obama email list with the Democratic National Committee or campaign committees that help elect members of Congress, governors and legislators. And it has no plans to coordinate efforts, leading some Democrats to worry that it will take money and manpower away from the party as it heads into the 2014 elections for control of Congress.
“There’s only so much money to go around in Democratic circles. There’s a limited pool of resources,” said Gilda Cobb Hunter, a South Carolina legislator and a member of the Democratic National Committee. “Why can’t we strengthen one entity?”
[…] Days before his second term began, Obama announced that his campaign would morph into a nonprofit, tax-exempt group to rally support across the country for his agenda. “Organizing for Action will be an unparalleled force in American politics,” he told supporters.
Other presidents have created or championed organizations outside the major national parties. Bill Clinton, for example, embraced the Democratic Leadership Council, an organization that pushed a moderate agenda.
But that functioned more as a think tank. And Obama is the first to form a group that will raise millions of dollars as it seeks to perpetuate a year-round campaign for him.
The decision to create Organizing for Action separate from the DNC, where a similar group was housed after the 2008 election, has prompted some Democrats to accuse Obama of focusing more on his legacy and less on his party.
What does Obama have to gain from withholding the e-mail list, siphoning away donations, and otherwise threatening to weaken the DNC’s 2014 campaign efforts? Is he trying to force them to come crawling to him to stay in power?
Obama deliberately chooses these kinds of radical, extremist religious leaders to guide his family and his faith. That tells you a lot about how radical his core beliefs really are. Obama doesn’t hide the fact that he’s a follower of the “Social Gospel,” which teaches collective salvation through good (government) works, not individual salvation by grace.
The pastor at the Washington, D.C. church where the Obama family celebrated Easter on Sunday said members of the religious right want blacks “in the back of the bus,” women “back in the kitchen” and immigrants “back on their side of the border.”
“It drives me crazy when the captains of the religious right are always calling us back…for blacks to be back in the back of the bus…for women to be back in the kitchen…for immigrants to be back on their side of the border,” Rev. Dr. Luis Leon said in his sermon, according to the White House press pool report.
Reuters reporter Jeff Mason tweeted that Leon also said the religious right wants gays in the closet.
What a classy, uplifting sermon for Resurrection Sunday.
This isn’t the first time his nut-job pastor has said something like this, either. Where does he find these crazies? I’ve grown up in different church across the denominational spectrum all my life, and NOT ONCE have I ever a pastor give sermon that specifically bashed political opponents.
Cyprus is only the first domino.
Cypriot President Nicos Anastasiades has struck a deal with the European Union and International Monetary Fund that will seize up to 40% of uninsured funds from wealthier depositors with over 100,000 euros and will not siphon funds from those below that amount.
The 10 billion euros ($13 billion) bailout plan calls for the Cyprus Popular Bank to be dissolved and all its viable assets transferred to the country’s biggest bank, Bank of Cyprus.
Presently, Cypriot banks have imposed a 100 euros ATM withdraw limit, and Cyprus border officials at air and sea ports have been ordered to confiscate the funds of any traveler attempting to leave with over 10,000 euros.
How dare they try to keep the money they worked so hard for and saved AFTER taxes were already paid on it? Don’t they know that private property is an illusion under Socialism? That the government is free to spend as irresponsibly as it wants, and can steal your money at will to pay the tab? That’s what they’ve been voting for all this time, right? Or didn’t they realize it?
Understandably, Cypriots are desperately trying to get their money out, but it’s too late:
The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday – and even then subject to capital controls to prevent a run on deposits.
The ruling class insists that stealing money out of their bank accounts is “in their best interests.” Doesn’t that make them feel better? They’ll be patriotic and happy to “share the sacrifice” for the greater good, right? Of course not!
Tyler Durden reports that there is a “Cash Exodus From Cyprus Surges Despite Bank Closures, Capital Controls“:
From FAZ, google translation edited:
Despite the closed banks and a lock for payments in the past week, more money flowed out of Cyprus than in previous weeks, Frankfurter experts report for payments. Prior to the escalation of the crisis in Cyprus accruing on the payment system Target liabilities of Cypriot central bank to the European Central Bank (ECB) had increased daily at approximately 100 to 200 million euros. In recent days was after Parliament the stabilization program initially had to fail, the daily has risen to more than double. Just in the last week so could cash assets have been withdrawn from Cyprus in the billions, although the Cypriot central bank has actually issued a lock.
How is it possible that cash is leaving the country even with a bank halt? It isn’t, unless of course, the banks aren’t really halted, and some outbound wire transfers, which are permitted, are more equal than other wire transfers which are stuck on the island. Of course, that would imply an “Europe Farm” type of arrangement, which in the bastion of fairness, equality and honesty which is Europe, would be absolutely impossible.
On the other hand, if indeed the drain of the Cypriot banking system has continued despite all the enacted halts during the past week, then it’s game over for Cyprus, which will soon have only the ECB to thank for providing liquidity, an arrangement that may not be the best long-term outcome for a nation whose economy has basically been gutted in the span of one week.
It also means game over for the bailout as envisioned, as the EUR17 billion is history, and much more cash will have to be injected to cover for the stealth outflows.
Cyprus won’t be the only one affected, of course. An unusually honest Eurozone official has made it clear that the EU will use the same confiscation tactics as Cyprus if things get worse (which of course they will):
Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe’s single currency by propping up failing banks, a senior eurozone official has announced.
The new policy will alarm hundreds of thousands of British expatriates who live and have transferred their savings, proceeds from house sales and other assets to eurozone bank accounts in countries such as France, Spain and Italy.
The euro fell on global markets after Jeroen Dijsselbloem, the Dutch chairman of the eurozone, told the FT and Reuters that the heavy losses inflicted on depositors in Cyprus would be the template for future banking crises across Europe.
Dijsselbloem tried to retract the statement after investors started panicking, but the damage is already done. Now the cat is out of the bag:
Translation: it now officially sucks to be an unsecured creditor in Europe. In other words: an uninsured depositor.
Why this ad hoc dramatic shift in the European approach to bank solvency, which if anything makes the link between bank and sovereign closer than ever, and crushes all that Draghi achieved in the summer of 2012?
Simple: because what Cyprus allowed was the effective usurpation of democracy - the only reason the Cypriot bailout “passed” (at least so far) is because it was structured as a bank restructuring, a financial system “resolution”, not a tax,and thus not in need of a parliamentary, democratic vote. Because as Cyprus also showed, votes to deprive depositors of cash, whether insured or uninsured, simply won’t fly.
Hence the shift.
However, there is a problem: it means that depositors are now fair game everywhere, and that the ESM or EFSF, with their unlimited scope but “democratic” impleention pathway, are on the backburner.
And now, the scramble to pull uninsured deposits out of banks everywhere begins. Thanks to the new Eurogroup head.
“You ask for miracles, Theo. I give you Diesel-BOOM”
And now, every European depositor is going to their local financial dictionary to look up the definition of General Unsecured Claims, only to see a picture of… themselves.
Simon Black at Sovereign Man blog tells readers to “Expect These Eight Steps From The Government’s Playbook“:
To anyone paying attention, reality is now painfully obvious. These bankrupt, insolvent governments have just about run out of fingers to plug the dikes. And history shows that, once this happens, governments fall back on a very limited playbook:
As Cyprus showed us, bankrupt governments are quite happy to plunder people’s bank accounts, especially if it’s a wealthy minority.
Aside from bank levies, though, this also includes things like seizing retirement accounts (Argentina), increases in civil asset forfeiture (United States), and gold criminalization.
Just another form of confiscation, taxation plunders the hard work and talent of the citizenry. But thanks to decades of brainwashing, it’s more socially acceptable. We’ve come to regard taxes as a ‘necessary evil,’ not realizing that the country existed for decades, even centuries, without an income tax.
Yet when bankrupt governments get desperate enough, they begin imposing new taxes… primarily WEALTH taxes (Argentina) or windfall profits taxes (United States in the 1970s).
This is indirect confiscation– the slow, gradual plundering of people’s savings. Again, governments have been quite successful at inculcating a belief that inflation is also a necessary evil. They’re also adept at fooling people with phony inflation statistics.
Governments can, do, and will restrict the free-flow of capital across borders. They’ll prevent you from moving your own money to a safer jurisdiction, forcing you to keep your hard earned savings at home where it can be plundered and devalued.
We’re seeing this everywhere in the developed world… from withdrawal limits in Europe to cash-sniffing dogs at border checkpoints. And it certainly doesn’t help when everyone from the IMF to Nobel laureate Paul Krugman argue in favor of Capital Controls.
Wage and Price controls
When even the lowest common denominator in society realizes that prices are getting higher, governments step in and ‘fix’ things by imposing price controls.
Occasionally this also includes wage controls… though wage increases tend to be vastly outpaced by price increases.
Of course, as any basic economics textbook can illustrate, price controls never work and typically lead to shortages and massive misallocations.
Wage and Price controls– on STEROIDS
When the first round of price controls don’t work, the next step is to impose severe penalties for not abiding by the terms.
In the days of Diocletian’s Edict on Prices in the 4th century AD, any Roman caught violating the price controls was put to death.
In post-revolutionary France, shopkeepers who violated the “Law of Maximum” were fleeced of their private property… and a national spy system was put into place to enforce the measures.
Despite being completely broke, governments will dramatically expand their ranks in a last desperate gasp to envelop the problem in sheer size.
In the early 1920s, for example, the number of bureaucratic officials in the Weimar Republic increased 242%, even though the country was flat broke from its Great War reparation payments and hyperinflation episode.
The increase in both regulations and government officials criminalizes and/or controls almost every aspect of our existence… from what we can/cannot put in our bodies to how we are allowed to raise our own children.
War and National Emergency
When all else fails, just invade another country. Pick a fight. Keep people distracted by work them into a frenzy over men in caves… or some completely irrelevant island.
Why do we have such massive deficits? Because if the government actually tried to collect the amount it needs to cover its current spending levels and unfunded liabilities, it would trigger a revolt – and that’s not a metaphor.
The truth is that our politicians have been very careful in their labeling of government receipts and payments so as to keep most of the coming bills associated with ‘Take As You Go’ off the books. Consider, for example, Uncle Sam’s promises to pay me my Social Security and Medicare benefits starting in roughly 10 years. The present value (the value in the present) of these promises is $400,000. How does this differ from my holding a Treasury bond valued at $400,000?
Fundamentally, it differs not at all, which means that the government has a lot more debt than it’s reporting.
How much more?
I’m not sure you want to know. I recently calculated the fiscal gap using the CBO’s AFS forecast. The fiscal gap measures the present value difference between all projected future federal expenditures (including servicing official debt) and all projected future taxes. The fiscal gap is thus the true measure of our government’s total indebtedness and the true measure of fiscal sustainability.
How big is the fiscal gap?
Brace yourself. It’s $222 trillion large! In comparison, official debt in the public’s hands is only $11 trillion.
Here’s one way to wrap your head around our $222 trillion fiscal hole: closing it via tax hikes would require an immediate and permanent 64 percent increase in all federal taxes. Alternatively, the government could cut all transfer payments, e.g., Social Security benefits, and discretionary federal expenditures, e.g., defense expenditures, by 40 percent. Waiting to raise taxes or cut spending makes these figures worse.
In short, our government is totally broke. And it’s not broke in 30 years or in 20 years or in 10 years. It’s broke today.
How do we know that a dollar bust is upcoming? The interest we pay on our national debt indicates our future. The interest the United States pays on its debt is now above $350 billion per year. Because more than 43 cents of every dollar the United States spends is now borrowed — and plans are in place to add about a trillion dollars more in debt each year — the interest payment on U.S. debt is expected to climb to a trillion dollars per year in 2017.
In other words, in four years, the interest on the debt will consume almost half of all revenue that the government collects, and each year after that it will get progressively worse — until it consumes all revenues.
As the interest on the debt grows, we won’t be able to borrow enough to pay our bills, and the government will have to either simply print more money to pay up or default. It will likely at least try printing money, and this is when inflation will zoom atmospherically. Even Ben Bernanke, the head of the Federal Reserve, acknowledged this scenario last year.
The chance that the United States will avoid this path in our near future is infinitesimal, but there is a chance. An unexpected business boom could spare us — socialist Norway stays solvent via exploiting oil revenues, and the United States has some of the biggest oil reserves in the world — or a massive downsizing of government could spark a boom — as happened during the Harding administration and at the end of WWII— but there’s little chance of either happening.
The government is issuing smothering business regulations and taxes, and the government will likely run higher debts than projected, not lower.
Debts will likely be higher for many reasons: Not only did the administration fight the minuscule sequester cuts tooth and nail,ObamaCare is much more expensive than promised and will only reduce costs if the death panel lives down to its name, as well as devastating the small businesses that most influence employment. Also, year-in and year-out, Congressional Budget Office figures used to project future tax revenues have predicted a rapidly growing economy and been consistently wrong; the federal flood insurance fund is empty; the Social Security Disability fund is almost empty; etc.
The great majority of U.S. spending is claimed to promote “fairness,” while critics have argued that it is immoral for Baby Boomers — the group mainly responsible for electing political spendthrifts — to heap devastating debt on their children and grandchildren. Ironically, the imminent demise of the dollar has accelerated to where the dollar will almost certainly crash during most Boomers’ lifetimes, so they will have to suffer along with their offspring.
I guess that’s fair.
It’s not a “tax.” It is government stealing money directly out of people’s bank accounts – money that was deposited AFTER taxes were already paid on it.
Socialism = theft, pure and simple. Christians who support Socialism need to go back study what the Bible has to say about debt, envy, and theft!
An 11th-hour deal with the EU, which has saved the Cypriot economy from the brink, will see investors with more than €100,000 in the nation’s largest banks forfeit a large chunk of their deposits.
The punishing deal – which has been approved by the eurozone finance ministers – will allow the country to receive the €10bn (£8.5bn) bailout it needed before the European Central Bank pulled funding and sent the island on the path to bankruptcy and a possible exit from the single currency.
Under the new agreement, all bank deposits under €100,000 will be secured and guaranteed by the state. The country’s second-biggest bank, The Popular Bank of Cyprus – known as Laiki – will be wound down whilst holders of deposits of more than €100,000 face big losses.
Four years of stalling on a budget (which is required annually, per the constitution), and THIS is the best they can come up with?
An exhausted Senate gave pre-dawn approval Saturday to a Democratic $3.7 trillion budget for next year that embraces nearly $1 trillion in tax increases over the coming decade but shelters domestic programs targeted for cuts by House Republicans.
While their victory was by a razor-thin 50-49 vote, it allowed Democrats to tout their priorities. Yet it doesn’t resolve the deep differences the two parties have over deficits and the size of government.
Joining all Republicans voting no were four Democrats who face re-election next year in potentially difficult races: Sens. Max Baucus of Montana, Mark Begich of Alaska, Kay Hagan of North Carolina and Mark Pryor of Arkansas. Sen. Frank Lautenberg, D-N.J., did not vote.
So what made them finally decide to pass a budget? Arnold Ahlert has a theory:
The impetus for passing a budget for the first time in four years was likely the passage of the “No Budget, No Pay” bill which suspended the current debt limit until May 18th, so the federal government could continue to pay its bills. One of the bill’s provisions prohibits legislators from getting paid if Congress doesn’t pass a budget by April 15. Salaries will either be held in escrow until they do, or resume being paid in January 15, when the current congressional session ends.
Considering the vast differences between this legislation and the House budget passed last Thursday that brings the budget into balance by 2023, but changes the nature of entitlement programs in ways completely anathema to Democrats, it is virtually certain that no budget will be reconciled before the debt ceiling showdown. On Thursday, House Speaker John Boehner (R-OH) revived a rule ignored in January, stating that any increase in the debt ceiling must be accompanied by commensurate spending cuts.
Yet even leaving that rule aside, passing a budget by May 18 is still overly optimistic. Thus, the House also passed a continuing resolution to fund the government for the rest of the fiscal year, which lasts through September. The Senate approved that resolution, and it is expected that the president will sign it once he gets back from his trip to Israel.
In other words, the more things seemingly change, the more they remain the same: barring a miraculous spasm of bipartisanship, government will likely be funded piecemeal–and our unsustainable fiscal trajectory will remain unaltered.
Sorry, peasants. If you’re just an average citizen wanting a tour of the “People’s House” for your duly elected public servants, you’re out of luck.
If you’re a big donor to Obama’s revamped campaign arm, “Organizing For Action,” however, we’ll be happy to grant you a front row seat to the King Obama.
Once, only nobles were granted an audience with the King.
In America, we’ve prided ourselves on abandoning those privileges of class some 237 years ago, following that little uprising in the 13 colonies.
And we again congratulated ourselves at 12:01 pm Eastern Time on January 20, 2009, just moments after Barack Obama was sworn in as the 44th president of the United States and as he committed to making his administration the most transparent and open in history.
But more than four years later it is time to ask questions. The most transparent administration ever? The most transparently political, yes. The most open government? If you have the money to buy access, yes.
Since last weekend, Mr and Mrs Regular Citizen have been denied the access people used to be granted to tour the White House, purportedly because of the clampdown on federal spending since the “sequester” that imposed cuts across the board.
These tours, most recently guided by volunteers though monitored by paid Secret Service staff, have been an American tradition since John and Abigail Adams, the first White House residents, personally hosted receptions for the public.
And their cancellation is an austerity measure that saves a pittance, while more frivolous taxpayer funding for items like the White House dog walker continues.
Meanwhile, noble Americans can buy time with the president for a suggested donation of $500,000 to his new campaign group, Organising for Action.
Yes, the announcement offering access to the president for cold, hard cash was made openly and with total transparency. But it was also made without shame.
It’s the third version of Obama’s original monster campaign machine, Obama for America, which then morphed into a re-election campaign machine, Organising for America, on the third day of his first term.
It has now re-launched again as Organising for Action (OFA) – a non-profit, tax-exempt group headed by his former campaign advisers. Apparently no longer “for America”, the group might just as well be called Organising for Obama’s Agenda.
Its mission: to support the president in his attempt to achieve enactment of gun control, environmental policies and immigration reform.
This will only end well for those who are prepared to take care of themselves and their families.
The Cyprus central bank decided to keep the banks closed until next Tuesday. The panic is building. This will build it even more.
The British media say the government is looking for Plan B. There is no Plan B.
There will be no tax on bank accounts, says the parliament.
Will there still be a bailout? The European Central Bank has said it will remove the life support tube on Monday. The head of the EuroGroup, which is a no-name committee of the eurozone’s finance ministers, said this: “I’m not sure that this package is completely gone and failed, because I don’t see many alternatives.” In short, “the Parliament had better reconsider.” Or else.
Or else what? Default? Cyprus’ departure from the eurozone? Do the Eurocrats want that? Do they want to risk a poster child for the PIIGS to imitate?
Meanwhile, panic builds. When the banks open their doors next week, they will face a true bank run. People now know: they cannot get their money. They never thought this could happen.
The central bank is playing kick the can. It is buying time. Maybe there will be a Plan B. Problem: if there is a Plan B, maybe the parliament will reject it. Then what?
A nation shuts down economically if its banks shut down. The banks can shut down in two ways: because of bank runs or by decree from the central bank. Today, the banking system has been shut down by decree.
The central bank cannot kick the can much longer. The economy will collapse without banks.
The British media are covering the story.
“We don’t have days or weeks, we have only hours to save our country,” Averof Neophytou, deputy leader of the ruling Democratic Rally party, told reporters as crisis talks in Nicosia dragged on into the evening.
The country’s two main banks – Laiki and the Bank of Cyprus – face potential failure if a bailout is not secured. One official told the Associated Press that Europe and the IMF were pressing for the two banks to be wound down. The Cypriot government was said to be considering the possibility of imposing capital controls amid fears that money would flood out of the country once its banks were reopened.
But if depositors cannot send their digital money out of the country, they can still demand currency. The effect is the same: bankrupt banks.
The central bank cannot print euros. It can bail out the system only if Cyprus pulls out of the eurozone. If it does, this will send a message to the PIIGS: “Get out. We did. Save yourselves. We did.”
Cyprus isn’t the only country facing serious fiscal consequences from unsustainable spending, unfunded liabilities and overwhelming debt.
Robert Romano explains “How the government will steal your savings under Dodd-Frank“:
The people of Cyprus care more about their life savings than propping up financial institutions that lost billions on poor investments in socialist governments’ debts. The idea that somehow they, and not the banks that made those decisions, should bear the brunt of those losses was always disconnected from reality.
Yet that is precisely the presumption the establishment has made — that rather than banks raising substantially more capital to address systemic risk, you and I should pay for bank bailouts — in response to the ongoing financial crisis that began in 2007, and has actually become the basis for such proposals considered all over the world, including the U.S.
In 2009, the G20 asked the International Monetary Fund (IMF) to come up with ways the financial sector might supposedly contribute to its own bailouts.
The IMF study released in 2010 essentially proposed two types of taxes: a levy on financial institutions to create a pool of bailout funds, and a financial transaction tax.
Interestingly, what the IMF came up with as a suggestion had already been implemented a few months earlier by the U.S. Congress in passing the Dodd-Frank so-called financial reform legislation.
Under Dodd-Frank, the Federal Deposit Insurance Corporation (FDIC) is allowed to charge assessments to about 60 bank-holding and insurance companies with $50 billion or more in assets to fund what is called an “orderly liquidation fund.” Really, it’s just a bailout fund allowing the government to take over systemically risky institutions, recapitalize them, and allow them to reenter the market under new management.
The law, as well as the IMF study, presumes that the financial sector will bear these costs. But as a Congressional Budget Office (CBO) analysis of a similar bank tax proposal by the Obama Administration at the time noted, “the ultimate cost of a tax or fee is not necessarily borne by the entity that writes the check to the government. The cost of the proposed fee would ultimately be borne to varying degrees by an institution’s customers, employees, and investors, but the precise incidence among those groups is uncertain.”
Meaning, the assessments would actually be passed on to and paid for by savers and consumers of financial products through the indirect taxation of higher bank fees and other financial transaction costs. Americans for Limited Government warned lawmakers about just such an outcome prior to the legislation’s passage as an affront to private property rights.
[…] At least in Cyprus the people’s representatives there actually had an opportunity to vote against such a levy. Whereas here, those fees are and will continue to be imposed by the banks with the blessing of government agencies — all without any vote in Congress.
It may happen sooner than anyone realizes. U.S. financial institutions are said to have as much $641 billion of exposure to financial institutions in Portugal, Ireland, Italy, Greece and Spain (PIIGS) according to the Congressional Research Service.
Should the Eurozone really break apart, and U.S. banks are caught in the crossfire, with the American people suddenly paying exorbitant fees for the “privilege” of conducting business electronically, they can decide for themselves whether this was a good idea.
That is, for Congress to outsource and give unlimited grant of its taxing authority to faceless bureaucrats acting in concert with an international banking cartel with the goal of bailing itself out of its own foolishness.
Veteran Stands Up For 2nd Amendment At Chicago Anti-Gun Forum
View on YouTube
What a slap in the face to our brave men and women who fought to defend our freedoms, including the 2nd Amendment!
How would you feel if you received a letter from the U.S. Government informing you that because of a physical or mental condition that the government says you have it is proposing to rule that you are incompetent to handle your own financial affairs? Suppose that letter also stated that the government is going to appoint a stranger to handle your affairs for you at your expense? That would certainly be scary enough but it gets worse.
What if that letter also stated: “A determination of incompetency will prohibit you from purchasing, possessing, receiving, or transporting a firearm or ammunition. If you knowingly violate any of these prohibitions, you may be fined, imprisoned, or both pursuant to the Brady Handgun Violence Prevention Act, Pub.L.No. 103-159, as implemented at 18, United States Code 924(a)(2).”?
That makes is sound like something right from a documentary on a tyrannical dictatorship somewhere in the world. Yet, as I write this I have a copy of such a letter right in front of me. It is being sent by the U.S. Department of Veterans Affairs to hundreds, perhaps thousands, of America’s heroes. In my capacity as Executive Director of the United States Justice Foundation (USJF) I have been contacted by some of these veterans and the stories I am getting are appalling.
The letter provides no specifics on the reasons for the proposed finding of incompetency; just that is based on a determination by someone in the VA. In every state in the United States no one can be declared incompetent to administer their own affairs without due process of law and that usually requires a judicial hearing with evidence being offered to prove to a judge that the person is indeed incompetent. This is a requirement of the Fifth Amendment to the U.S. Constitution that states that no person shall “… be deprived of life, liberty, or property without due process of law…”.
Obviously, the Department of Veterans Affairs can’t be bothered by such impediments as the Constitution, particularly since they are clearly pushing to fulfill one of Obama’s main goals, the disarming of the American people. Janet Napolitano has already warned law enforcement that some of the most dangerous among us are America’s heroes, our veterans, and now according to this letter from the VA they can be prohibited from buying or even possessing a firearm because of a physical or mental disability.
Veterans are being declared incompetent not because they have a serious mental illness that makes them a danger to themselves or others, but because they have a physical disability resulting from their service in the armed forces or because they simply let their spouses pay the family bills.
If veterans have minor issues with PTSD, have expressed that they are depressed sometimes, or even in the case of Vietnam veterans admit that they are getting older and sometimes forget to pay their bills on time, the bureaucrats at the VA will seek to declare them incompetent. (I am a 65 year old veteran and often forget where I put my car keys, does that make me incompetent to handle my own financial affairs and even worse mean that I can’t own a firearm?) According to the VA it apparently does.
All of this has resulted in America’s heroes being declared incompetent by a process that blatantly violates their rights to due process under the Fifth Amendment to the Constitution. Then, for reasons that have not been explained these same veterans are also being denied their Second Amendment right to keep and bear arms.
Many of the veterans I have heard from were initially both scared because of what was happening to them, and hurt because it is their own government that is causing this fear. After all, when they joined the military they signed a blank check to their country to defend it and its Constitution even if it cost them their lives. Yet, now their own government is turning on them and taking from them the very Constitutional rights they fought to preserve.
However, now something else is happening; the fear and betrayal that these veterans felt is turning to anger. Their training and instincts as warriors is coming forth and they are once again prepared to fight for their rights and the rights of other Americans. I think that the Obama administration has picked a fight with the wrong dog. Veterans are fighting back.
Cavuto: What’s happening in Cyprus could happen here
View at Fox News Video
In 1913, the 16th Amendment gave the federal government the power to tax American’s earnings for the very first time. Originally a 1% tax to pay for the war, it has ballooned into a confiscatory predator which continually siphons away your hard-earned money to feed the appetite of a government spending addiction that is never satisfied.
Since the immoral premise that government has a right to confiscate your earnings has gone unchallenged for the last 100 years, they now claim the right to steal your assets as well – property that you’ve acquired and invested in with after-tax dollars, through your own hard work an initiative. Nowhere is this more apparent than the recently instituted 3.8% Obamacare tax on home sales.
Think what is happening in Cyprus can’t happen here? It already is.
Cypriot lawmakers on Tuesday rejected a critical draft bill that would have seized part of people’s bank deposits in order to qualify for a vital international bailout, with not a single vote in favor.
The rejection leaves Cyprus’s bailout in question. Without external funds, the country’s banks face collapse and the government could go bankrupt. Nicosia will now have to come up with an alternative plan to raise the money: the government could try to offer a compromise bill that would be more palatable to lawmakers.
The bill, which had been amended Tuesday morning to shield small deposit holders from the deposit tax, was rejected with 36 votes against and 19 abstentions. One deputy was absent.
Too late. The threat has already been made. They have officially declared that they believe that the hard-earned money in private citizens’ bank accounts are fair game for the taking, and property rights are easily dispensed with when governments overspend. I wouldn’t trust them as far as I could throw them, and neither will most Cypriots!
The smart people will get their money out before they have another chance to try a scheme like this.
MP Nigel Farage is warning European investors to “Get Your Money Out While You Can“:
In Nigel Farage’s first TV appearance since the Cypriot wealth tax was announced, the Englishman pulls no punches. In all his years and all his experience of the desperation of the European Union’s leadership “never did [he] think they would resort to stealing money from people’s savings accounts.” The simple fact is that they know they cannot let any country leave, no matter how small, for “once one country goes, the whole deck of cards will come tumbling down.” There is now “clear irreconcilable differences” between the North and the South of Europe and now that they have done this in one country, “they are quite capable of doing it in Italy, Spain and anywhere.” The message that sends to people is “get your money out while you can.” As far as his British constituents, he strongly recommends George Osborne (UK Chancellor) urge ex-pats to remove all their money and do monthly transfers from home. “Do Not Invest In The Euro-Zone,” he concludes,“you have to be mad to do so – as it is now run by people who do not respect democracy, the rule of law, or the basic principles upon which Western civilization is based.”
“They are propping up a Eurozone that, in the end, will collapse in disastrous failure and they are prepared to do anything to do so.”
As Neil Cavuto points out, what is happening in Cyprus is already happening in America…it’s just that most people don’t realize it.
Katie Pavlich notes that American’s 401K plans already top the list of assets the government is threatening to seize:
As a reminder, the United States government has been eying and researching how Americans use their 401k plans for quite some time now. Recently we saw the U.S. Consumer Financial Protection Bureau suggest the government help “manage” retirement plans.
[…] In February, the Washington Times went so far as to ask “is your 401k about to be nationalized?”
The $19.4 trillion sitting in personal retirement accounts like the 401K may be too tempting an apple for a government that is quite broke, both monetarily and morally. The U.S. Consumer Financial Protection Bureau director Richard Cordray recently mentioned these accounts in a recent interview, stating “That’s one of the things we’ve been exploring and are interested in, in terms of whether and what authority we have.”
This agency, created by the 2010 Dodd-Frank-Act, is very concerned about how safe your retirement savings are. They are apparently concerned that retiring baby boomers may become victims of financial scams.
If the government takes control of retirement accounts, it will not be called “nationalization.” There will most likely be an indecipherable document that provides an opt-out option (initially), but why would you want to do that? The US government only wants to ensure the safety of your retirement funds; they did after all create a new bureaucracy for that specific purpose. And what could be a safer investment than US bonds?
Karl Denninger…cites some reasons for being concerned that this express train intends to flatten the US in the coming years. He lays out whywe may need recourse to something like this.
In two years federal medical spending along with Social Security and interest will, on current paths, reach the total of all tax receipts. At the outside the market will realize that Congress will never address the underlying issue with medical care because they have steadfastly refused to do so…. There is about $20 trillion in US Retirement “assets.” A “small” 10% “one time” tax levy on those assets would fund the US Deficit a couple of years from now, and I will go out on a limb now and predict that exactly that will be done. Of course the “one time” aspect will be a lie too…
He goes on to explain how the test case for this has already been successful. And how the American People have already allowed the legal precedents to allow this to happen to be codified in case histories all the way up to the USSC.
the precedent has already been set, and you, the common American, sat for it.
You allowed the GM bailout to take place where the seniority of bondholders was ignored and they were screwed while the UAW was made whole. You allowed Obamacare to be passed with the Congress denoting it was a “fine” rather than a Tax, because Congress knew that a direct, unapportioned tax was unconstitutional — and then you sat again when Judge Roberts of the USSC rewrote Obamacare to be that very same unconstitutional direct Tax.
Mark my words, Obamacare has very little to do with Health Insurance. This is why nobody in government feels any particular concern over the fact that it screws health insurance up so badly. If you are in government and you want the power to run things by fiat, this law just gave you the keys to a Barchetta with a full tank of petrol.
Now some of you have quaint hang-ups stemming from a silly political dope-deal known as The American Bill of Rights. For those who knit-pick abstruse details, Amendments IV and V get really anal about this property rights jib-jab.
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
Not to worry Komerade Amerikan. There are apps for this as well. Kelo v. New London is a landmark case that helps put the subjects in their proper place. As long as your bank account can be construed as conferring a public benefit through public use, this lovely piece of jurisprudence would justify its seizure down to the last penny.
Bottom line: The state can steal your property, your wealth and your sustinence at any time they get pissed off enough or desperate enough to do so. You have no recourse to the law against this. The law is pathetically bastardized. Remember how that Arch-Conservative Supreme Court was poised to heroically strike down The AACA? Forget it Jake, we are all Cypriots now.