Former CIA analyst Larry Johnson explains that there is a mountain of evidence confirming that the American Neocons were behind the destruction of Nord Stream sabotage of September 26th, 2022 (2022.736) that left Europeans’ wallets empty as energy prices soared. The destruction of the Nord Stream pipeline was carried out by the American Neocons, for this has been their objective since the 1950s, and even though communism collapsed, they have continued to hate all Russians no matter what.
The Neocons have constantly wanted to cut off Germany from buying Russian energy on their theory that this would undermine Russia and it would collapse so they could invade and slaughter Russians on a wholesale basis. They argued that imposing 100% sanctions on exporting energy would hit Moscow, where it hurts, and undermines its economy. That was the real objective of eventually destroying the Russian economy. Germany replied that they could not just cut off Russian energy cold turkey. They had the largest economy in Europe. But, the Neocons do not care about how many dead Ukrainians they have caused, nor do they care about Germans and their economy. They are the very evil that they insist Russians are.
The destruction of Nord Stream came 51.6 years on target with the frequency of the Economic Confidence Model. Indeed, ever since 1971, Russian gas has powered German homes and businesses. Without that energy, Germany would never have risen to the #1 economy in Europe, and Americans would not have enjoyed their BMWs, Porsches, and Mercedes. What these Neocons are too stupid to understand is that the selling of energy to Europe was undermining Communism. The Soviet Union opened the Institute for Management of the National Economy, which was the first school in a Communist nation for business administration and management science. These were fields long rejected as a feature of Western capitalism. The Institute was inaugurated within the Plekhanov Russian University of Economics. The Roman Empire grew because it was beneficial to be part of the Empire for that allowed free trade. When the people benefited economically, it restrained their leaders and promoted peace. Free trade with Europe was undermining Communism. It took just 18 years for that to take place.
The Neocons, from the outset, did everything in their power to deny Germany access to Russian energy, all for political objectives. It was 1955 when West German Chancellor Konrad Adenauer (1876-1967) visited Moscow and then established diplomatic relations for the first time between the new Federal Republic of Germany and the Soviet Union. Adenauer was Chancellor from 1949 to 1963. He opened the door for the trade agreement that followed in 1958, and by 1960, bilateral trade between the countries was booming.
The Trade Agreement was reported worldwide by the Associate Press on April 9th, 1958 (1958.271). Even so, from the very beginning, that trade link between Germany and Russia was controversial, to say the least. The United States, at the direction of the Neocons, was always against it and would criticize Germany behind every closed-door session. However, the US
intimidation failed because it was necessary for the German people and their future.
Germany consumed just under 20% of all Russian gas exports in 2020. About 50% of all of its gas was coming from Russia. Germany was clearly Russia’s #1 customer. That was why the United States took the initiative to simply blow up the Nord Stream Pipeline without consulting with Germany.
In early 1963, the US and NATO imposed an embargo against shipping pipe to Russia to complete its energy pipelines. They were taking the position that this would strengthen the Russian economy, and it would be used to expand their military. This was typical paranoia. However, we must also look at this from their perspective to understand the evolution of events rather than form a one-sided bias.
The American Neocons are traitors to the United States. Since 1950, they have objected to buying any energy from Russia. Their entire theory has been to starve Russia no matter what its economic philosophy might be – just kill every Russian so they can sleep at night. When Kgruschev said, “We will buy you,” this is what inspired the Neocons to take the opposite position, swearing to spread DEMOCRACY (really authoritarianism) to the world, justifying regime change to assassinate and remove by any means anyone they disliked from Saddam Husein to Qadafi.
Since the Russian Revolution of 1917, we have had many Red Scares. During the whole era of McCarthyism, often known as the Second Great Red Scare, McCarthy headed the Senate Permanent Subcommittee on Investigations in 1953 and 1954. During that time, he used his power to engage in communist-hunting operations. McCarthy’s committee began an investigation into the United States Army. The more famous account was November 25, 1947, when the House of Representatives approved citations of contempt for the Hollywood Ten.
The House Committee on Un-American Activities became notorious, seeking to imprison people for a belief. The Hatch Act of 1939 banned membership in subversive organizations. Some viewed it as an anti-union or anti-labor legislation. Hundreds of people and others were prosecuted under this law between 1941 and 1957. McCarthyism was justified through the characterization of American communists as completely under Moscow’s control, that any American Communist was a puppet of the Soviet intelligence services.
To stay in the limelight and bask in the glory of defending America, McCarthy began to manufacture evidence with specificity that was headline-grabbing sweeping accusations to gain support to imprison anyone who thought of Communism. The popular view of the Communist Party had been that it was despicable and annoying, yet it was never a threat in America. Communism was popular in Russia because serfdom ended in 1861 with American slavery, but then they owned nothing and were not happy. That is why Marxism took hold in Russia during the late 19th century for they did not own land and most employment was still in agriculture.
By 1951, people were waking up to McCarthyism and that it was a big Red Scare that was based on a lot of manufactured evidence and lies. Welcome to the age of American Neocons – people who live in hatred of others and exaggerate the truth to remain in power and stay relevant.
President Harry Truman, who pursued the anti-Soviet Truman Doctrine, called McCarthy “the greatest asset the Kremlin has” by “torpedo[ing] the bipartisan foreign policy of the United States.” Eugene Victor Debs (1855–1926) was an American socialist, political activist, and trade unionist and a founding member of the Industrial Workers of the World (IWW). However, he was also a five-time candidate of the Socialist Party of America, running for President of the United States in 1904, 1908, 1912, and 1920 when he ran for president from prison in 1920.
Debs ran for President from prison in the 1920 election. Many people voted for him; he received the most significant number of popular votes ever received by a Socialist Party candidate in the United States. It is important to clarify that there was also the Communist Party, which was separate and distinct from the Socialist Party at the time. It is Ironic that FDR, running as a Democrat, was really advocating socialism, which Debs had advocated, except for war.
It was Woodrow Wilson who sent the Department of Justice to imprison Debs, and they used his speech against the Wilson administration for its support of World War I. Wilson was vicious and called Debs a “traitor to his country.” On June 16th, 1918, Debs made a speech in Canton, Ohio, where he urged resistance to the military draft imposed by Wilson. For that, he was arrested on June 30 and charged with ten counts of sedition.
The Neocons have hated Russians and Chinese because they were communists. However, when communism collapsed, and they were no longer trying to spread that philosophy to the rest of the world, the Neocons never stopped their hatred. When Ronald Reagan wanted to meet with Gorbachev, they objected and warned Reagan not to go because “you can never trust a Russian,” confirming that people judge others by themselves because you can NEVER trust an American Neocon. They will send you and your children to die for their personal vendettas.
It was John McCain, the grandfather of Neocons, who promoted this nonsense of Climate Change NOT for the planet but to push Europe into nuclear energy to cut off Russia’s income from energy. John McCain for the sole purpose of destroying the Russian economy since 50% was all fossil fuels. John McCain used Climate Change as his weapon to achieve the Neocon goals. John McCain was pushing for nuclear power in Europe also to undermine the Russian economy – not for climate concerns.
Loyds Nord Stream v (1) LIC and (2) Arch – CL-2024-000094 – Defence
The British insurance companies have refused to pay any claims for Nord Stream. Switzerland-based Nord Stream AG filed a lawsuit against the insurers for refusing to compensate the company. Nord Stream estimated the cost incurred by the attack to be between €1.2 billion and €1.35 billion and is seeking to recoup over €400 million in damages. The insurers, Lloyd’s Insurance Company and Arch Insurance Company, responded that since the Nord Stream explosions were “more likely than not to have been inflicted by… a government,” they have no responsibility to pay for damages to the pipelines. They state in court “the fact that the explosion Damage could only have (or, at least, was more likely than not to have) been inflicted by or under the order of a government,” they have refused to pay any claims.
Nord Stream was destroyed by the American Neocons, and it was an act of war by UNELECTED bureaucrats without the AUTHORIZATION of Congress or the people. This was treason, for they have abused the power of the Executive Office, and this warrants an investigation, and they should stand trial. These people will create World War III and manipulate society into this self-destruction that our computer warns the United States will lose this time. As Ron Paul pointed out, they have been waging wars for 60 years and have not won a single one. Communism fell – get over it. They are pissed off that they did not get to shoot anybody because it fell all by itself.
I do not agree with Donald Trump’s view of the Federal Reserve. I speak on behalf of sound economic policies that benefit the people. I do not blindly support a political candidate for the sake of being on the right side. Now, I criticized Trump during his presidency for constantly pressuring the central bank to lower interest rates. There are rumors swirling that Trump, if elected, would set the price of interest rates himself without the advice of the Federal Reserve. While this may be an extreme side of the rumor, Trump and every other president would like more power over the Federal Reserve — BAD IDEA!
What we must keep in mind is that the Federal Reserve’s original design, which lasted for about one year, was brilliant. The classic banking model involved borrowing from depositors on a demand basis and lending long-term, making a profit on the spread in interest rates, such as for business loans and mortgages. This was relationship banking, not today’s transactional banking model.
This was fractional banking insofar as about 8% of the money needed to remain free to service demand requirements. The crisis comes during an economic contraction when people run to the bank for a loss of confidence and demand to withdraw their funds. This results in the value of cash rising in purchasing power compared to assets, so asset values collapse.
The idea of “elastic money” was to increase the supply of cash during such a crisis to meet the demand for withdrawals and that would offset the need to sell assets by calling in long-term debts. By increasing the money supply on a temporary basis, the Fed could offset the contraction in theory smoothing out the business cycle.
This was a brilliant scheme. However, it has been Congress, and not the Fed, that corrupted that mechanism. The banks technically owned the Fed as this was supposed to save the taxpayer money. The banks should contribute to their own bailout fund. Furthermore, the Fed’s design was also about buying in corporate paper when banks would not lend money. This was a mechanism used to offset rising unemployment if corporations could not fund their operations. They supplemented this by the management of regional interest rates to balance the domestic economy. Each branch of the Fed could raise or lower their local interest rate autonomously to attract capital when there was a local shortage or deflect capital when there was too much.
Congress began to manipulate the Federal Reserve for their own self-interest when World War I broke out on April 6, 1917. The alteration to the design of the Fed was to direct it to buy government bonds, not corporate. In this first step, they never reverse this decree after the war. They removed the brilliant design to stimulate the economy directly by purchasing corporate paper during a recession. In the last 2007-2009 crisis, the government wrote a check to TARP and hoped that the banks would lend money, but they did not. Removing this first pillar of the independent Fed distorted the entire system. It then made little sense for bankers to own shares in an entity that was no longer privately controlled.
Banks became traders during the 1929 Boom-Bust Cycle. Goldman Sachs became deeply involved in the bull market, establishing numerous trusts and mergers. Goldman Sachs expanded the leverage going right into the eye of the storm that was about to hit starting on September 3, 1929. The crash wipes our 70% of Goldman’s entire market.
The Glass-Steagall Act, also known as the Banking Act of 1933 (48 Stat. 162), was passed by Congress in 1933 and prohibited commercial banks from engaging in the investment business. Around 5,000 banks failed during the Great Depression largely because banks sold trusts and foreign sovereign government bonds to the public in small denominations. Bill Clinton later repealed Glass-Steagall and handed the power back over to the bankers. Disaster strikes every time the government tries to manipulate the free market.
People believe the Fed has the power to create money out of thin air, yet never explain why the Fed was given that power. You cannot have a fixed money supply as the population increases, then you end up with DEFLATION, which is the rise in the value of money. You can double the money supply, but if the people hoard it, as they tend to do during private waves when the public loses all trust in government, you will never create inflation. There was a huge contraction in the velocity of money during the Great Depression for this very reason.
The Biden Administration, as has the Trump Administration, has come after the Fed. Politicians merely want the economy to appear strong under their reign and fail to see the long-term impact of policies. Politicians have no knowledge of economics or the insight to run the Fed. Not to mention that law does not permit Washington to bark orders at the Fed, although Washington does oversee the Fed and can force the central bank to change its policies to align with government spending or repel debt buyers.
Trump is a borrower, not a lender. His bankruptcies were the result of the business cycle and he leverages himself to the hilt so when the recession comes, he gets in trouble and when it is booming he claims to be a fantastic investor. But he is no trader. He could have hedged the business cycle but did not.
Chairman Jerome Powell and Trump clashed repeatedly. Not so coincidentally, Powell and numerous Fed bank presidents have their terms expiring in 2028 – a key year, as indicated by our models. The Biden Administration has already driven the economy off a cliff. The central bank is merely trying to heal an already injured economy with a limited medical kit.
The Fed is INDEPENDENT and will not be bullied by Biden or Trump. The Fed understands that it has become the world’s central bank and its actions in raising rates have had a far greater impact externally particularly in emerging markets because so many other nations issue their debt in US dollars.
Dmitry Konstantinovich Kiselyov (born 1954) is the latest warning to the West to issue an ultimatum to the UK and the US. On Russian TV, Kiselyov warned that if a Western power deploys soldiers on the ground in Ukraine to ‘inflict a strategic defeat on Russia,’ it will result in Armageddon. Of course, what I find stunning is how the Western press characterizes him as “Vladimir Putin’s propagandist,” and the implication of those words is that they are not a real threat. The press takes NOTHING said from Russia seriously – it’s all a joke, just propaganda. As they said of Rome when it fell, the Romans were still laughing, watching the games to notice they had been invaded. Not a single journalist has any integrity, for they never consider when they are reading the American/European propaganda that what if they are sleepwalking society into nuclear war?
Kiselyov is not going to say this on national TV without the Kremlin actually delivering this warning. He said:
‘If Nato countries send their troops into Ukraine in order to inflict a strategic defeat on Russia, then the very moment about which Putin once said, “Why do we need the world, if there is no Russia in it?” would come.”
Russia has indeed threatened to ‘turn the US into radioactive ash’ and ‘sink Britain’ below the waves. While some Nato leaders have been more circumspect, this need for war to justify the defaulting on debt that is the real factor behind the West’s desire for war will have far greater consequences than these fake world leaders who are all hand puppets of the Neocons. Kiselyov added: “This is not propaganda.” Yet in the West, the Neocons are saying this is a bluff, and Putin will never use Nukes so the West can completely destroy Russia – their hated enemy for decades, without a shot fired?
I have an old Russian friend who we met back in Tokyo some 20 years ago. She has reiterated to me a question, and she is NOT political or involved in the government.
“Why does the world hate us so much?”
This is where my experience with governments and geopolitics clashes with the reality of humanity. I know the answer is that these fake leaders will NEVER admit that borrowing year after year to get votes is coming to an end and they can no longer sustain our present monetary system—which is why they are moving to CBDCs, and many are talking about now taxing even unrealized gains in stocks and real estate. They think they can cover up their disastrous fiscal mismanagement since World War II with war.
NATO is scared to death if there is no threat of war, then they will be irrelevant and defunded with the money going to Climate Change. They should heed the words of Mahatma Gandhi, but of course, they will NEVER listen: “An eye for an eye will only make the whole world blind.” If NATO keeps up this propaganda that Russia will invade and seek to conquer Europe, what they are doing is pushing Russia into a corner where they might as well commit the annihilation they have been accused of harboring.
When I went into the Kakadu in North Australia and lived off the land for two weeks, my guide, who was the real live version of Crocodile Dundee, warned me that a wounded snake is far more aggressive and even more vigorous/dangerous, so never approach such a snake or I would be dead in minutes. No amount of “training” can prevent terrified wild animals from behaving instinctively or defensively, and trainers and handlers cannot always protect themselves and the public. This has been documented many times with trainers being attacked.
To think for even one second that a nation will not defend itself when its existence is threatened is absolute stupidity. But we have no real investigative journalists and the mainstream media are just propaganda agents that they are accusing Kiselyov of being. Russia will launch whatever it has, as would China, and so would the United States if it is about to be conquered. A defeated person is ALWAYS far more dangerous, just as that snake I was warned about.
This war would be over in 24 hours—instruct Zelensky to HONOR the Minsk Agreement that the West negotiated to buy time to start this war. The West played Putin for a fool. He has offered peace many times. But the West wants the war to cover up the collapse of this, ending borrowing with no intention of ever paying off any debt. All pensions will collapse when they get to the point that they are unable to sell new debt to pay off the old.
I warned on February 22, 2022, that Volodymyr Zelensky would be the man they hired to create World War III. My sources made it clear that the election was rigged. The oligarch behind Zelensky was the same one who hired Hunter Biden. Our future will be destroyed by this man who takes orders from the American Neocon. There will be no DEFEAT of Russia. For anyone in charge of a country that was about to be destroyed, the natural response is to take everyone else with you – just push the bottom.
(1) Russia won – Ukraine has lost, and NO Amount of Money will win this war
(2) The Administration is pouring money down a black hole where NOBODY knows where it is going
(3) Congress is throwing money into a failed war, and they do not demand any accountability, as was the case with Iraq and Afghanistan. Why?
(4) Those who will benefit are the Western firms that invested in Ukraine and have lost their shirt – Another bailout?
This is why our insane leaders are urging us to send in troops to Ukraine, which will start World War III. Russia is warning us NOT to do this, and our Western Press refuses to acknowledge anything our warmonger leaders are doing, no less the risks that they are subjecting everyone to over a civil war the West began with this intention from the outset. Some inside Russia advocate nuking Kyiv in a major display and then showing the world what will happen if we continue to go down this path. They suggest this is the ONLY way to stop World War III and that the people will wake up and overthrow the warmonger leaders pushing us to Armageddon.
Putin is NOT a warmonger despite all the bullshit put out by the Western Press. The West staged the Moscow attack and did not even try to hide that they were behind it. They are desperate to try to get Putin to attack anything in NATO so they can pretend he is the aggressor when it is our Neocons and NATO. What I fear is that Ukraine will try to kill Putin, KNOWING that such an act will replace him with a warmonger, and we will get into World War III. I can confirm that the critics behind Putin have been telling him this war is with the USA and NATO – not Ukraine. The hardliners have told him he should have taken out Ukraine as the US did to Iraq, and this war would have been over in 6 weeks, and Zelensky would not have been able to create his media tour.
If Ukraine kills Putin, it will be at the direction of NATO, and then they will get their World War III. That would be the result if Russia attacked Washington to kill Biden, no matter how unpopular he is. Such an act would galvanize the USA into a single action for war,
In 2021, the Extreme Left Labour Government seized power in Norway, overthrowing the eight years of Conservative rule. Labour won 48 of the 169 parliamentary seats, one less than in 2017, but the Conservatives lost nine seats and were left with only 36. We can see that 2021 was low for the US dollar after COVID against the Norway Krone, and ever since the leftists seized power, they have been steering Norway in that direction where all Marxist regimes have died violently and inevitably.
All leftist governments impose their will to crush any individualism. They are obsessed with someone who has more than they do. Every leftist government ends in utter disaster. They reduce the standard of living and inevitably drive the most talented people out of their domain. Every Marxist government, from Russia to China, has committed suicide by suppressing innovation, and the most talented people will always seek to leave. In the case of Communism, they built the Berlin Wall in 1961 to prevent people from fleeing. These LEFTIST governments are now moving to impose an EXIT tax if you seek to leave their depressing economic domains. Human nature will ALWAYS prevail, and this is why every single government that has abused its power and then tried to prevent people from leaving with EXIT TAXES or a version of the Berlin Wall crumbled to dust and is all buried in a common grave by history.
The Bible is a very interesting historical document. Socialism violates the Ten Commandments, and I am shocked that nobody has challenged this progressiveness of taxation as a violation of their religious beliefs. This very reason this prohibition against LEFTIST political agendas is in the Ten Commandments is because human nature has never changed, and such LEFTIST experiments have been tried for thousands of years and have always failed.
Communism first appeared in historical records back in Ancient Greece. This was a classic battle, like our modern Cold War. Athens was a capitalistic system that had its own internal battle between the Oligarchy and Democracy, which we still have today. Sparta was a communist state, so much so that it NEVER adopted coinage, and these spits were maintained to PREVENT people from hoarding wealth—sound familiar with electronic money and canceling currencies? The Spartan system was based on the idea that the collective came before the individual. This is the cornerstone of all LEFTIST regimes.
Marx believed Communism would prevail because Sparta defeated Athens in 404 BC. However, Sparta was in league with its neighbors, especially Corinth, whose coinage competed with Athens in trade. So Sparta was the Communist state, but it was aided by other capitalistic cities to knock out the financial capital of the world so they could replace it.
This division eventually led to the opening of the door for the northern Macedonians to take all of Greece under Philip II (359-336BC) and his son Alexander the Great. This Cold War between effectively Spartan Communism and Athenian Capitalism weakened Greece and allowed them to be conquered by Macedonia, which was not originally part of Greece.
To be a Spartan citizen, one had to undertake the Agoge’s rigorous military education. Only those who had completed their education in the Agoge were entitled to be citizens. The criteria for a Spartan citizen were very high. While the system ensured that the Spartans were well-trained warriors, it also led to problems replacing those who died in battle. To be a citizen, the Spartan had to pay his way into the agoge, such as supply his armor. The economic burden upon the common people was its undoing. Lacking a flourishing economy because people were steered into the military for the state, it sealed its fate with a gradually declining economic base. With the rising costs over time, fewer and fewer people could afford to pay their way into agoge.
Sparta emerged victorious during the Peloponnesian War in 404 BC, and by 400 BC, it had replaced Athens as the greatest military power in the Greek world. However, it neither contributed to the economy no less art and creativity. Then, in 371 BC, in just about 31.4 years by Thebes, the Spartans were defeated in the battle for the first time. They lost that military power and Greece’s leadership. Nothing lasts forever. During that entire period, Sparta never issued any coinage because it was an anti-capitalistic state.
Whenever a LEFTIST government turns to restrict the movement of people by building Berlin Walls to keep them in or an EXIT tax to confiscate their wealth as a punishment for leaving since they are not being taxed to pay any fair share of the state when they are not there, the end is merely inevitable. The LEFT will always impose dictatorial decrees and refuse ever even once to consider that what they are doing is against human nature and the basic human right to live in peace.
In recent developments in Norway, the failure of the government’s economic policies has been taxing the “hated” rich; they are planning to introduce a more stringent exit tax to punish anyone who leaves their draconian policies. This move has attracted much criticism from many sources, but historically, the LEFT has never listened. Even in the United States, just look at those states that have extreme LEFT regimes, and you will find EXIT Taxes as well.
California in the US is an absolutely horrible place, and it is following the same path as Norway. California is no longer a place to invest, as is the case with New York and most of the New England states. New Jersey has an EXIT Tax applied if you sell your home and buy something in another state. Connecticut has a 2.25% EXIT Tax. New Jersey has an Exit Tax. All of the LEFTIST government sees you as just an economic slave. It has nothing to do with paying your fair share – they are only interested in economically punishing you. If you do not get the hell out of these states, it will only get worse because they NEVER have enough and will NEVER change their policies until there is a political revolution and they are voted out of power. But the brightest will always leave, and in the end, they commit economic suicide, no different than ancient Sparta.
Spearheaded by Finance Minister Trygve Slagsvold Vedum, the initiative aims to deter affluent Norwegians from relocating to countries with more favorable tax regimes, such as Switzerland, by imposing a hefty tax on unrealized gains. Here in the USA, Janet Yellen wants investors to pay a tax on the increase in the value of stock every year, even if it is not sold. So if a stock goes from $100 to $150 you must pay tax on that $50. Then there is a crash, and it drops 25%. You will get no tax credit, and then it bounces 10%; you owe on that 10% bounce.
These people are absolutely destroying capitalism and Western Society. We have only 8 years left because this entire economic system will collapse. This is unsustainable. In Australia, the LEFT wants to confiscate all your wealth upon death and you should be prohibited from leaving anything to your children. Everyone should start from ZERO – except LEFTIST politicians of course. This is what 2032 is all about. These people are destroying our future and the very foundation of a free society.
People have been leaving California in droves due to Governor Gavin Newsom’s socialistic Utopia that demands everyone be taxed on every penny they earn. I’ve long warned that California was unfriendly for businesses and investors. Those who stayed behind will now need to pay to leave under Assembly Bill 2088.
California plans to implement a one-time tax for businesses and individuals fleeing the Golden State. The government will look at all of your assets and investments to determine how much you will need to pay, which is usually 0.4% of someone’s net worth. Wealth historically flees when taxes rise, and to combat this issue, California plans to tax anyone with an income for $30 million for up to a full decade after they leave the state. Someone leaving the country entirely will still be forced to pay California for the privilege of leaving.
California first implemented an exit tax in August 2020 when they saw businesses and individuals lining up to leave the state that faced some of the harshest lockdown penalties in the nation. Uhaul and other moving organizations reported shortages on shipping vehicles as the demand to flee was so high.
Per usual, this tax was first introduced as an “eat the rich” penalty for those earning over $30M. And again, as usual, the tax expanded to target everyone. Small businesses that are already struggling to survive in California’s climate may feel trapped in the state. Individuals who can no longer afford the cost of living in California are also unable to leave without forfeiting money to the state. Afterall, the majority of people who live in California rent if they actually have shelter. Why anyone would want to conduct business in or through California is beyond me as Newsom is clearly targeting everyone who merely associates with California.
Another reason the Socialists introduced this tax is to steal capital gains. They wanted to tax unrealized gains to no avail but were prohibited by the courts. Now they are worried people will move out of state and cash out elsewhere. So California wants to tax all investments to ensure they get a cut of YOUR money that they do not have a right to claim.
The state dug themselves into the deepest deficit in the nation. The decision-makers do not believe they are the problem. They believe the greedy businesses and individuals are the problem and deserve to pay for their mistakes through unending taxation. Accumulating wealth is now a punishable offense in parts of the “free world.”
Success is a punishable offense in Biden’s America. Joe Biden and his administration would like to implement a 44.6% tax on capital gains, the highest tax on capital gains in the nation’s history. Washinton says this tax is necessary to address the looming national debt, but they are simultaneously implementing measures to ensure that the nation falls deeper into debt. Perpetually issuing new debt to pay for the old is equivalent to a Ponzi scheme that WILL FAIL.
Donald Trump’s implemented tax deductions are set to expire in 2025, which is precisely when these measures could go into effect. The proposals essentially rob those who have achieved success to pay those who leech off of the government.
The proposal is over 250 pages in length but looks to target all investments. The MSM will report that they are only going after the wealthiest Americans but the truth of the matter is that they will seek to squeeze everything they can out of every American, unless they fully rely on government assistance and are therefore owned by Washington.
“A new 25- percent minimum income tax would be imposed on extremely wealthy taxpayers. For high-income taxpayers, gaps in the law that allow some pass-through business owners to avoid Medicare taxes would be eliminated, and Medicare tax rates would be increased. Additional loopholes, including the carried interest preference and the like-kind exchange real estate preference, would be eliminated for those with the highest incomes. Together these reforms would sharply curtail tax preferences that allow the wealthy to pay lower tax rates on their investment income and exacerbate income and wealth disparities, including by gender, geography, race, and ethnicity.”
We are equal in rights, not talent. This proposal clearly states that successful individuals must be punished financially. Will the government curtail its own spending or address the utter deterioration of fiscal policy that has hurt all Americans? No. There are no mirrors in Washington.
C corporations, under this proposal, would be subjected to a 28% tax rate – a 7% increase. The corporate alternative minimum tax (CAMT) would rise to 21% compared to the current 15%. How on Earth does this support American business? Does he truly believe this will aid in job growth, as we have primarily only seen the public sector grow?
Think crypto is safe? Think again because this proposal wants to permit the government to determine which assets are considered actively traded.
“The proposal would add a third category of assets that may be marked-to-market at the election of a dealer or trader in those assets. Assets in the third category would be actively traded digital assets and derivatives on, or hedges of, those digital assets, under rules similar to those that apply 230 General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals to actively traded commodities. The Secretary would have authority to determine which digital assets are treated as actively traded. The determination of whether a digital asset is actively traded would take into account relevant facts and circumstances, which may include whether the asset is regularly bought and sold for U.S. dollars or other fiat currencies, the volume of trading of the asset on exchanges that have reliable valuations, and the availability of reliable price quotations.”
Forget offshore digital investments because Washington wants a cut of that too:
“Tax compliance and enforcement with respect to digital assets is a rapidly growing problem. Since the industry is entirely digital, taxpayers can transact with offshore digital asset exchanges and wallet providers without leaving the United States. The global nature of the digital asset market offers opportunities for U.S. taxpayers to conceal assets and taxable income by using offshore digital asset exchanges and wallet providers. U.S. taxpayers also attempt to avoid U.S. tax reporting by creating entities through which they can act. Requiring individuals specifically 228 General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals to report their offshore holdings of accounts with digital assets, subject to significant penalties if they fail to do so, is critical to combat the potential for digital assets to be used for tax avoidance.”
This proposal is LOADED with extreme restrictions and penalties for investors, both domestic and foreign.
They want to reform how companies pay dividends. They want to reform international taxation and reporting. The statute of limitation for financial penalties would be expanded, including the payouts the government lavishly handed out during COVID.
The proposal would increase the top marginal tax rate to 39.6% for married individuals filing a joint return and surviving spouses. Single filers earning $400,000 for unmarried individuals will face the highest tax penalties, as will those earning $425,000 for head of household filers, and $225,000 for married individuals filing a separate return. In comparison, the current top marginal rate for married filers is currently on those earning over $731,2000 and single filers earning over $609,500. So the cost of living is rapidly rising, inflation has no change of relenting during this time of ongoing wars, but the government wants to tax those earning less more?
So, if one sells their small business, they will need to give the government about half of what they worked their entire lives to achieve. If an American’s house rose in value and they attempt to sell the estate—too bad, Uncle Sam needs half. This is a MIDDLE-CLASS TAX. The ultra-wealthy already have ways to bypass these measures. The ultra-wealthy may begin leaving America in general if they continue to demonize capitalism.
The people did not create the deficit we face today. The government continually spends with no plans to curtail spending. They have created a massive Ponzi scheme whereby they issue new debt every year to roll over the debt from the previous year. Eventually, there will be no buyers, and that is precisely how nations fail.
QUESTION: Hi Martin, What are you thoughts on holding cash into 2028? You said cash was king, but there would come a time to abandon cash. It seems this CBDC thing is what you are talking about. Do you have any time yet?
See you in London
Kind regards,
HF
ANSWER: Europeans are much more familiar with canceling currency. Those governments are much more Marxist and have been canceling currencies routinely since WWII. What happens is you are forced to bring your cash in to swap it for the new version. In this case, it will be digital. What they are going to do is then look to see who accumulated that cash. If it is a large chunk, you may be taxed, and the burden will be on you to PROVE you paid the cash.
You are better off swapping it out for gold, stocks, and even real estate outside of the Blue States and generally cities. As people migrate from those regions, the people left behind will have their taxes increased. California is the #1 state people are leaving. They have noticed, and as I have been warning, you should have got the hell out of that God-forsaken state. They are now imposing an EXIT tax to leave. The downside of real estate is that they impose a property tax on it annually. Some states include even your car. People I know used to have Ferraris no longer because they paid a sales tax to buy it, and then you are taxed on the price you paid for it annually as property tax. If you keep the car for 10 years and it depreciates, the taxes you pay just to have it will consume half the price of the car or more.
We are through the COVID crisis when it was wise to hold the case. Now, you do not want to hold cash into 2028. We are facing STAGFLATION, so inflation will rise faster than GDP. Thus, the purchasing power of cash will decline. Then, when they do the CBDC, which they plan to introduce as soon as January 2025, they will cancel all cash, force you to bring it to the bank, and report how much you had to the IRS.
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