Bluegrassrivals

Or like the phrase suggested that popped into my head when I read about it; code name "operation FAT CAT", or "how to skin a FAT CAT."


ARTICLE EXCETPT---
"The Organization for Economic Cooperation and Development (OECD) last week officially unveiled a new socialist-backed plot to create a global tax information-sharing regime to ensure that nobody except the establishment escapes the upcoming fleecing. Under the proposed scheme, admittedly inspired by “FATCA,” the Obama administration’s latest addition to the sprawling U.S. tax regime, governments and dictatorships worldwide will automatically share all private financial data on citizens with each other to extract as much wealth as possible from the public.
http://www.thenewamerican.com/economy/it...tax-regime


I really do understand why we don't see any liberals on here trumpeting the achievements of the present administration, there is nary so much as a single note worth of success to blow about, LOL. But one would still expect a few feeble attempts here and there were it not for the scandals, EPA land grabs, the war on fossil fuels and things like the above. They are in a word, indefensible. However, in two words, FATCA is just more of the same "Wealth Redistribution."

This is the argument I have tried to make with those who are loaded. One can invest in precious metals, or stocks, or hedge funds, or real estate, or low volatility funds, or just let his money sit around and collect dust. If the system does crash, and the Scriptures are clear this is what will happen, folks will not be able to protect their money. World collapse is on the horizon, as many countries are ranked as "threatened" by the possibility of bankruptcy.

The more men grasp for security, the more it will slip through their fingers.

"....folks will not be able to protect their money" or, the value of their money?

Personally, and I'm not arguing here just sharing ideas, I don't believe the money is in danger; only it's value. It will be worth more to burn and stay warm that to use as payment.

Going back to commodities sort of reminds me of going back to growing/raising/preserving your own food. I believe we are going in that direction. I would know how to do that. Lord help my daughter and grandchildren.

I was doing some playing around in genealogy lately, and noticed that most of my ancestors' occupation was listed on the census as "farmers". Broad term. The only time my grand parents ever had money was when they needed to buy shoes for the kids. Normally a pig was sold or bartered for just that reason.

I know how stupid and simple that sounds, but if our global economy continues to spiral, we will be right back there, IMO.

Granny Bear Wrote:"....folks will not be able to protect their money" or, the value of their money?

Personally, and I'm not arguing here just sharing ideas, I don't believe the money is in danger; only it's value. It will be worth more to burn and stay warm that to use as payment.

Going back to commodities sort of reminds me of going back to growing/raising/preserving your own food. I believe we are going in that direction. I would know how to do that. Lord help my daughter and grandchildren.

I was doing some playing around in genealogy lately, and noticed that most of my ancestors' occupation was listed on the census as "farmers". Broad term. The only time my grand parents ever had money was when they needed to buy shoes for the kids. Normally a pig was sold or bartered for just that reason.

I know how stupid and simple that sounds, but if our global economy continues to spiral, we will be right back there, IMO.

Frankly, it doesn't sound a bit stupid to me, and the simplest explanation tends to be the best.

You are exactly right on with your observation about money. What is it really? It started as anything one could barter with and evolved into coinage struck by the monarchy of the day. America issued money based on our gold reserve for a while, then we just sort of made money theoretical and based it's value on the total perceived wealth of our nation. And as you mentioned, the value of money is what is in danger.

For example, there is a postage stamp from 1918 called the Inverted Jenny. Here's a picture of it; [attachment=o2994]. This stamp has an attached value of about one million dollars in our present economy. But, if times got bad and food so scarce that folks felt suddenly compelled to revert back to the practices of their grandparents to feed their families. Gardening and scraping up whatever they could would seem quite justifiable, thank you very much. And trust me, you wouldn't be hearing so much as a peep's worth of grumbling about commodities versus food stamps either, LOL.

Anyway, the value of the Inverted Jenny would fall like a rock in times like that and, what was worth a million suddenly would be worth nearly nothing. Same with money, especially money based on 'perceived' wealth. The US was at the pinnacle of greatness a mere decade ago. Now our perceived wealth has been eroded, threatened if you will, by our nearly unfathomable national debt. Here's what I'm saying. As of December, 2013, the US Gross Domestic Product was 17 Trillion dollars. Now, I admit I'm not a recognizable economist, and yet, our debt presently is 100% of our GDP. 17 Trillion minus 17 Trillion equals zero in my book. So, our debt presently equals our worth and what was that we were basing our money on again?

Like the lottery winner who was fabulously wealthy yesterday, we Americans are flat broke today. And, we are hell bent to add the trillions of debt to pay for ObamaCare, that doesn't work btw. Add to that the 3 Trillion for just running the store for the remainder of the Obama era, who knows how much in foreign aid to buy friends every new fiscal year, the recently passed trillion dollar farm bill, billions in food stamps, billions for global warming, and on and on, until mercifully, we get to 2016 and see Obama et-al, clear the white house.

In other words, the perception of wealth is no more grand among global bankrupt nations, than would be the perception among those in line to get their commodities. We would all be in the same boat and a shipwrecked one at that.

To quote Sheldon Cooper, "up a river of excrement with no means of propulsion!!"

RunItUpTheGut....that one is for you!!


nicker:

"As part of a fiendish effort known as FATCA supposedly aimed at extracting an extra billion or so dollars from U.S. taxpayers each year, the Obama administration is bypassing Congress to impose a far-reaching new tax regime on the world, and domestically on the United States. Experts and analysts say the scheme could destabilize the U.S. financial system and potentially even spark another economic crisis"
http://www.thenewamerican.com/usnews/con...-289784321

Too bad there isn't some way to make this kind of stuff to only affect those who actually voted for him.

Rabid tax and spend liberals---

In an attempt to generate more tax revenue, the Obama administration and the IRS have angered and encouraged all world banks to drop their U.S. dollar holding clients by October 1st, and systematically usher the collapse of the U.S. Dollar.

It’s no secret, China, Iran, Russia, India, Brazil, Japan, and other nations have started bilateral agreements to trade with one another, OUTSIDE the use of U.S. dollars.

The implementation of Foreign Account Tax Compliance Act (“FATCA”, will go down in history as the biggest blunder in Obama’s presidency.

FATCA will now force all world (foreign) banks to comply and follow IRS guidelines “IF” they transact in “the almighty” world reserve currency, the U.S. dollar; even if it means breaking their own nations’ privacy laws.

As of July 1st. 2014, foreign financial institutions (“FFI” have agreed to file Quarterly Reports directly to the IRS-the first report is due October 1st. The reports include, ALL financial accounts assets, bank accounts, securities accounts, annuity contracts, rental properties, insurance contracts, pension plans, trusts and private investments in companies and partnerships.

Guilty, until proven innocent: Foreign nations and financial institutions will need to prove they ‘re not concealing U.S. clients (including green card holders). They will have to provide the IRS access to ALL their clients, including their own citizens.
http://news.goldworth.com/breaking-news/

A recent post on AUGUST 11, 2014- by RON PAUL “European banks are already cutting ties with American citizens and businesses due to the stringent compliance required by recently-passed laws such as FATCA (Foreign Account Tax Compliance Act)”

Im not so sure going back to the days of farming your own food and doing without media with the exception being the radio is such a bad thing.
It would definitely take us back to out roots.

You guys got foreign accounts? You guys are for hiding money in foreign accounts, and not paying taxes on that money?

only money these guys got is that check coming in once a month

TheRealVille Wrote:You guys got foreign accounts? You guys are for hiding money in foreign accounts, and not paying taxes on that money?

You really are a kool aid soaked curmudgeon after all. What the article said was that the world is about to bail out of using the dollar for the world currency of choice. The nations of power are sort of looking for a reason anyway, and this administration has just given them one that is gold plated. The peoples of the world are not about to divulge their most intimate financial details to the likes of the United States IRS. If the dollar drops from it's lofty perch as world currency, all the quantitative easing will hit us like a sledge hammer. When my dollar crashes, your dollar crashes.

TheRealThing Wrote:You really are a kool aid soaked curmudgeon after all. What the article said was that the world is about to bail out of using the dollar for the world currency of choice. The nations of power are sort of looking for a reason anyway, and this administration has just given them one that is gold plated. The peoples of the world are not about to divulge their most intimate financial details to the likes of the United States IRS. If the dollar drops from it's lofty perch as world currency, all the quantitative easing will hit us like a sledge hammer. When my dollar crashes, your dollar crashes.

FATCA isn't what your link says it is. Of course, it's from some off the wall, right wing nut job site(Can you say John Birch Society?), and another site trying to get you to invest money with them. I know you right-wingers are all for corporations being able to hide money in foreign accounts, because you are for big business. Me though, are for corporations paying their fair share, and not hiding taxable money overseas. It's what makes the difference in the 1% supporters, and the 99% supporters.

FATCA just keeps in check the US citizens, and corperations from hiding taxable money. Don't try to beat paying taxes by hiding money overseas and you should be ok.

Quote:The provisions commonly known as the Foreign Account Tax Compliance Act (FATCA) became law in March 2010.
FATCA targets tax non-compliance by U.S. taxpayers with foreign accounts
FATCA focuses on reporting:

By U.S. taxpayers about certain foreign financial accounts and offshore assets

By foreign financial institutions about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest
The objective of FATCA is the reporting of foreign financial assets; withholding is the cost of not reporting.

http://www.irs.gov/Businesses/Corporatio...-Act-FATCA

they can't handle the truth to well

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TheRealVille Wrote:FATCA isn't what your link says it is. Of course, it's from some off the wall, right wing nut job site(Can you say John Birch Society?), and another site trying to get you to invest money with them. I know you right-wingers are all for corporations being able to hide money in foreign accounts, because you are for big business. Me though, are for corporations paying their fair share, and not hiding taxable money overseas. It's what makes the difference in the 1% supporters, and the 99% supporters.

The best you've ever had in the way of rebuff was to bash the source. While your own information is to be had on the official Obama website.

TheRealThing Wrote:The best you've ever had in the way of rebuff was to bash the source. While your own information is to be had on the official Obama website.

My info is from the site that polices the taxable money, while your site is from the John Birch Society. :hilarious: I'll stick with my source.

TheRealVille Wrote:My info is from the site that polices the taxable money, while your site is from the John Birch Society. :hilarious: I'll stick with my source.

So, let me get this straight. Your whole existence on this site is to contradict my posts which to date, you have yet to ever manage to do. None the less, convinced now by those liberal voices in your head, your best source BTW, you somehow think you've finally won a point? Ironically, we are all laughing about that but, for completely different reasons.

And FTR, it hasn't escaped me or anyone else reading this thread that my sources (plural) are credible. But, you go ahead and have yourself a fake horse laugh. Your money might make you feel superior but, down deep you know it is under threat. My point was that no one's fortune, no matter how small, large or safely invested, is in jeopardy.

TheRealThing Wrote:So, let me get this straight. Your whole existence on this site is to contradict my posts which to date, you have yet to ever manage to do. None the less, convinced now by those liberal voices in your head, your best source BTW, you somehow think you've finally won a point? Ironically, we are all laughing about that but, for completely different reasons.

And FTR, it hasn't escaped me or anyone else reading this thread that my sources (plural) are credible. But, you go ahead and have yourself a fake horse laugh. Your money might make you feel superior but, down deep you know it is under threat. My point was that no one's fortune, no matter how small, large or safely invested, is in jeopardy.

Where did I say that?


I posted a link, the IRS site that polices what you are talking about, and you post a link from a radical right wing website, John Birch Society owned site, and another link from a site that used that JBS site to try to get you to invest with them. Credible? That's frigging funny. I'll let the readers decide who is ignorant on this one. You wouldn't believe the number of people that have PM'd me, over time, laughing at your antics.

TheRealVille Wrote:Where did I say that?


I posted a link, the IRS site that polices what you are talking about, and you post a link from a radical right wing website, John Birch Society owned site, and another link from a site that used that JBS site to try to get you to invest with them. Credible? That's frigging funny. I'll let the readers decide who is ignorant on this one. You wouldn't believe the number of people that have PM'd me, over time, laughing at your antics.

IRS.GOV?
I am confident that any trepidation with regard to FATCA is well founded. In the mean time, one might reasonably assume that a company in business to sell gold might be able to interpret the situation with some degree of accuracy. Interpreting threat is what separates investment firms who find themselves in bankruptcy from those making money. So, where you see an avenue to attack, I see validation.

TheRealThing Wrote:IRS.GOV?
I am confident that any trepidation with regard to FATCA is well founded. In the mean time, one might reasonably assume that a company in business to sell gold might be able to interpret the situation with some degree of accuracy. Interpreting threat is what separates investment firms who find themselves in bankruptcy from those making money. So, where you see an avenue to attack, I see validation.

I might understand a little more about investing than you assume. My investments do pretty well.

^^
What kinds of investments do you use?

I have a 457 plan! I would recommend it.

^
Wrong account

Not to be rude but I wish the real ville would change his location. Louisville would be better.

TigerBlues Wrote:Not to be rude but I wish the real ville would change his location. Louisville would be better.

I pay plenty of taxes here, I'll stay. Feel free to move, if you like.

Granny Bear Wrote:^^
What kinds of investments do you use?

My financial adviser is Group 10. Most of my money is tied up in old insurance companies. It is paying back at about 8% interest right now. Check with Nick at Group 10, he can set you up pretty well.

TheRealVille Wrote:My financial adviser is Group 10. Most of my money is tied up in old insurance companies. It is paying back at about 8% interest right now. Check with Nick at Group 10, he can set you up pretty well.

Although, by most standards, old Harry Rex is rather well to do, I am hampered by the fact that I am forced to "invest" so much of my earnings with the federal government so that it can make all those welfare payments for the willingly non-producers (ie: Democrat voters) in our society.

TheRealVille Wrote:I pay plenty of taxes here, I'll stay. Feel free to move, if you like.

I appreciate working people paying taxes such as myself but, I didn't mean to move from Johnson Co I just meant you BGR location.

TigerBlues Wrote:I appreciate working people paying taxes such as myself but, I didn't mean to move from Johnson Co I just meant you BGR location.

Buzzing the tower only works when somebody's home. :biggrin:

TigerBlues Wrote:I appreciate working people paying taxes such as myself but, I didn't mean to move from Johnson Co I just meant you BGR location.

Naaaaa, I'm proud to show Paintsville as my location. But, if that's what you meant, you should have been more clear. Changing location could mean "why don't you move out of Paintsville".