Tag Archives: Money/Economy/Taxes

Israel’s largest bank agrees to $874mn fine for conspiring to help US citizens hide $7.6 BILLION in assets overseas

The top bank in Israel will hand over just shy of $900 million to the US Treasury after it was implicated in a tax evasion scheme, helping Americans to hide billions of dollars in wealth in thousands of foreign accounts.

Bank Hapoalim BM, as well as its Swiss subsidiary, agreed to pay the damages after submitting a guilty plea over allegations that it concealed some $7.6 billion in over 5,500 secret Swiss and Israeli bank accounts, the Department of Justice announced on Thursday. The $874 million sum is the second-largest recovered by the Treasury in an offshore tax evasion case since 2008, the DOJ added.

https://www.rt.com/business/487484-israeli-bank-874-million-fine/

Stimulus Waste

American population: 330,483,530

Stimulus bill: $2,000,000,000,000

Dividing the cost by every person in America is $6,051.74

The government could have given every person over $6,000, but instead will give $1,200 to each adult under a certain income.

Wanna know where the missing 96% of your tax dollars went?

$300,000,000 for Migrant and Refugee Assistance pg 147

$10,000 per person for student loan bailout

$100,000,000 to Nasa, because, who knows why.

$20,000,000,000 to the USPS, because why the hell not

$300,000,000 to the Endowment for the Arts – because of it

$300,000,000 for the Endowment for the Humanities/ because no one even knew that was a thing

$15,000,000 for Veterans Employment Training / for when the GI Bill isn’t enough

$435,000,000 for mental health support

$30,000,000,000 for the Department of Education stabilization fund/ because that will keep people employed

$200,000,000 to Safe Schools Emergency Response to Violence Program

$300,000,000 to Public Broadcasting / NPR has to be bought by the Dems

$500,000,000 to Museums and Libraries / Who the hell knows how we are going to use it

$720,000,000 to Social Security Admin / but get this only 200,000,000 is to help people. The rest is for admin costs

$25,000,000 for Cleaning supplies for the Capitol Building / I shit you not it’s on page 136

$7,500,000 to the Smithsonian for additional salaries

$35,000,000 to the JFK Center for performing Arts

$25,000,000 for additional salary for House of Representatives

$3,000,000,000 upgrade to the IT department at the VA

$315,000,000 for State Department Diplomatic Programs

$95,000,000 for the Agency of International Development

$300,000,000 for International Disaster Assistance

$90,000,000 for the Peace Corp pg 148

$13,000,000 to Howard University pg 121

9,000,000 Misc. Senate Expenses pg 134

$100,000,000 to Essential Air carriers pg 162 This of note because the Airlines are going to need billions in loans to keep them afloat. $100,000,000 is chump change

$40,000,000,000 goes to the Take Responsibility to Workers and Families Act This sounds like it’s direct payments for workers. Pg 164

$1,000,000,000 Airlines Recycle and Save Program pg 163

$25,000,000 to the FAA for administrative costs pg 165

$492,000,000 to National Railroad Passenger Corporation (Amtrak) pg 167

$526,000,000 Grants to Amtrak to remain available if needed through 2021 pg 168 (what are the odds that doesn’t go unused)

Hidden on page 174 the Secretary has 7 days to allocate the funds & notify Congress

$25,000,000,000 for Transit Infrastructure pg 169

$3,000,000 Maritime Administration pg 172

$5,000,000 Salaries and Expensive Office of the Inspector General pg 172

$2,500,000 Public and Indian Housing pg 175

$5,000,000 Community Planning and Development pg 175

$2,500,000 Office of Housing

https://www.investmentwatchblog.com/missing-96/

Will The Fed Create A Disorderly Dollar? | The Big Conversation | Refinitiv

I really like the recent analysis from Real Vision Finance including this video:

Federal intervention has propped up stock prices. (This is why the media is not in panic mode – they represent the wealthy.)

The real economy – industrial output, employment, supply chains, food production – in crumbling outside of the scrutiy of the media.

There’s also this effect where investors from all over the world are moving into dollar so that they can buy the equities which the US is propping up.

A Titanic Story about the Federal Reserve

***

Jekyll Island is located off the coast of the U.S. state of Georgia, where in 1910 some of America’s most influential bankers gathered for a secret meeting to plan the country’s monetary policy and establish a central banking system, which resulted in the draft legislation for what eventually became the creation of of the Federal Reserve act. https://atlanteangardens.blogspot.com…

American financier and banker JP Morgan funded and built the Titanic, and was booked on its maiden voyage in 1912, but cancelled at the last minute, unlike the most wealthy and influential opponents to the creation of the Federal Reserve Act, American millionaires who did not owe their fortunes to banking. The Federal Reserve act was passed by Congress the following year in 1913.

Robert Sepehr is an anthropologist and author
http://amazon.com/Robert-Sepehr/e/B00…

The government “can’t find” $20 trillion, while pension funds are tanking

“So what is the problem? If it’s not a problem for $21 trillion to go missing from DOD and HUD, and, [if] it’s possible [for the government] to come up with more than $20[plus] trillion to give or loan to the banks [in a bailout] — when there is no legal obligation to do so, and, when we [the government] can transfer trillions of the most valuable technology in the world to private corporations at zero cost to them and [at] great cost to the taxpayers, [then] I assure you that fixing whatever pension fund problem there is, is not difficult. However, the political will must exist and want to. That is the problem.”

“If we can print money to give $20 trillion [plus] to the banks, and, [if we can] let $21 trillion go missing from the federal government, [then] why is it a problem to print $5 trillion to fund the pension funds?”

Failing pension funds are on the hook for $5 trillion (see also this short article from 2010), and the federal government has no answer? Well, that is a supreme con job, because, as Fitts points out, the government is playing far larger money games without a shred of concern.

And this is just the beginning of the rabbit hole Fitts has been traveling for the past several decades. Here is her basic position: Prosperity for the many, not the few, is eminently possible and doable.

https://jonrappoport.wordpress.com/2018/12/31/government-cant-find-20-trillion-while-pension-funds-are-tanking/

If you can’t understand the minimum wage, you should be denied political power

If you can’t understand the minimum wage, you should be denied political power and treated like a cute but dangerous child when it comes to economic matters.

Whether a person can understanding the minimum wage should be a fundamental test. Can they distinguish between short term and long term? Can they distinguish between how the world is and how they want it to be?

The explanations by Hazlitt, Friedman and many others are so crystal clear.

Surprise: Bay Area Restaurants Disappear After Minimum Wage Hike

http://www.breitbart.com/california/2017/01/25/surprise-bay-area-restaurants-disappear-minimum-wage-hike/

“less than 10 percent of the world’s population will be living in extreme poverty by the end of 2015.”

How does the left countenance their hypocrisy???

Originally, the point of the left was fighting poverty. The argument went that Communism produced more wealth because it removed the inefficiency (greed) of those who owned the means of production. Communism was superior because it produced MORE WEALTH. Nobel prize winning economist Paul Samuelson told everyone this was inevitable.

All those scores of millions of people were murdered in the name of helping the poor. (Paul Samuelson, that degenerate monster, posited the question of whether communist wealth did not make its oppression worth it.)

Then, in the parts of the world where people had defended themselves against the communists and kept the snarling horde at bay, CAPITALISM created never-before-seen wealth. Capitalism ended poverty.

Capitalism delivered the promise of early communism’s most starry-eyed proselytizers.

As I like to say: The Messiah of the left has arrived, but the left has no need for a messiah that actually shows up.

The left abandoned their fight against poverty and forgot that it ever existed. They’ve anointed a new messiah, one that is guaranteed to never arrive and ruin their bloodlust for destroying social orders: equality.

https://fee.org/articles/the-end-of-extreme-poverty-and-the-great-fact/