Trump & Abolishing the Income Tax


COMMENT: No matter what you deny, you are advising Trump. He quotes you often and now he is taking your position that taxes are irrelevant and should be abolished. He has also said that he would create a permanent tax holiday for those earning less than $100,000 if he is reelected. Stop denying this.

GG

REPLY: Granted, he has used the language in my letters. This idea of abolishing taxes has been my position. We run deficits anyway and taxes will never balance the budget. They were needed when money was a physical coin. But it is just electronic today. We spend so much on tax collection and then the entire class warfare is always over confiscating assets of one group to had to another. Abolishing taxes was laid out in the Solution CD.

I am NOT advising Trump. I do not speak to him on the phone nor have I seen him since I attended a private event at his Florida compound. There are plenty of people who read this blog and the private blog in Washington. What information others pass on is out of my direct control. I am not interested in working at the White House. Who really cares where he takes his advice? Your tone seems hostile and I suspect you are trying to create a link between us only for political purposes. Sorry! You are barking up the wrong tree!

FT’s Interview of Putin 2019


To understand the confrontation between the USA and Russia, and the future of the world monetary system, it is always important to listen to the opposition to gain some insight into the thinking process.

Friedman – Equality & Freedom


 

Real Money’s Revenge


Beware of a Cashless Society where all is digital — Electronic digits have no value and are extremely easy to change or remove!

Just over 10 years ago I drew several pro-silver cartoons. One of them showed a giant, fast-moving silver coin cutting the JP Morgan ‘paper tiger’ in half. For years, JPM has shorted silver and has been doing it illegally and collusively. I knew this, but I went ‘all in’ on silver anyway because I thought JPM would have to cover and spark a massive short squeeze. I was convinced my long positions would make me a fortune. Instead JPM drove the price of silver down from almost $50 early in 2011 all the way down to $13 just a few years later. Paper covered rock. Needless to say, I learned a hard lesson about putting all my eggs in a silver basket. I should have bought Bitcoin instead.

Now silver is back up over $20 and some are predicting much higher prices on the horizon, just like they said over 10 years ago. Gold is also close to making ‘all-time highs,’ which is incorrect because inflation needs to be factored into such a high due to years of incessant dollar printing. Silver and gold have broken out higher due to a weaker dollar and some experts such as Peter Schiff claim ‘King Dollar’ will die due to over-printing. I have my doubts.

The dollar is still greatly desired by America’s poor and the middle classes, whose wages have not risen much in nearly 30 years. They are not getting more dollars like citizens did in Weimar Germany. You won’t see dollars in wheelbarrows any time soon. Most of the Federal Reserve’s dollar printing goes directly to a handful of fantastically wealthy people at the top of the pyramid. Many of them own the Federal Reserve. The Fed is propping up a market that is mostly owned by the top.

We The People are not receiving what the Fed is buying whether it be treasuries, corporate bonds, or ETFs, but we are forced to pay for it. Citizens must cough up more taxes to pay the interest on the absurdly high debt in order to make sure the fabulously rich get fabulously richer. Until those at the very top start giving their money away to the rest of the country, the dollar will be fine. No, I’m not advocating class warfare and it’s not socialism. What we’re seeing is not capitalism. The top 1 percent are getting their money by ill-gotten means. It’s fascism when their Fed gets to pick and choose which globalist company or sector to prop up.

I took some time off in Idaho last week and I visited one of my favorite places on Earth: Wallace. It’s a mining town in northern Idaho. It’s just off I-90 and has a long, storied history. It’s also known as the center of the universe and it is—at least when it comes to silver. There are many silver mines in the surrounding area, also known as ‘The Silver Valley.’ A total of 1.2 billion ounces of silver came out of those mines over the years and there’s still plenty of silver left to be mined.

It costs a lot of dollars to run a gold or silver mine. Sometimes it costs lives. 91 miners died of carbon monoxide exposure at the Sunshine MIne in 1972 after a ventilation system caught fire.

Precious metals are not easy to find. Gold is rare. It takes a lot of money to start a mine. Equipment, labor, environmental permits—all very expensive. Once the ore is removed it must be milled and smelted. Gold in particular is very hard to find. I know—I drove many miles to do some gold panning on a claim in eastern Idaho only to go away completely gold-less. I could not find gold with my metal detector, either. Compare this to how easy it is for the Federal Reserve to create debt dollars with a flip of a switch.

Gold and silver remain Constitutional money, but they are no longer in common circulation. Gold and silver (and copper, too) have been the best form of money throughout the ages, but no longer. They have become anachronisms and are incompatible with the digital age. There will be no revenge. Sure, the dollar can become gold backed once more, but that’s not likely. What’s likely is the Fed will convert us to a cashless society and adopt a social credit system. This will be the worst form of money because it will mean the total enslavement of humanity.

—Ben Garrison

Ayn Rand – What is Capitalism?


 

Is Capitalism Humane?


 

Wheat & the Fourth Quarter of 2020


COMMENT: Hope all is well

We as farmers are paying a price as our pm is bad-mouthing the Chinese. We, Australian farmers, have had a rough deal over the last 30 years because we lost $12 /ton on the Iraq debt, the UN destroyed our AUST WHEAT BOARD SHARE PRICE OVER WHAT SALES TO SADDAM HUSSEIN  so the SHARE  went FROM $6.5 TO $1 PER SHARE and then it was taken over by a Canadian company for $1.5/share.

Cheers P

REPLY: This coronavirus has been a political coup, and we are heading into a confusing time for markets as well as politics. We have the CEO of Facebook, Mark Zuckerberg, who is now calling for the breakup of the US government and boldly saying that no one government can stand up against Facebook. This political turmoil has reached an absolute toxic level, and the impact of that is the destabilization of confidence in the future. That undermines the markets going forward.

As it now stands, we should see a retest of support in wheat produce going into the fourth quarter of 2020. We still see 2020 as a Directional Change, but the market will routinely create the false move to get everyone on the wrong side in order to create the necessary powerful slingshot. So just understand that it will get worse BEFORE it turns around. This virus has undercut the supply chain, and the rising tensions with China will only add to the confusion. We seem to have the worst possible politicians in key places at the exact wrong time.