• BullionStar
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In Case Of Government Shut Down, Close IRS... But Keep POMO Open

Tyler Durden's picture




 
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Wed, 04/06/2011 - 12:51 | 1141504 The Axe
The Axe's picture

Please just shoot me...much easier....lol

Wed, 04/06/2011 - 13:06 | 1141595 traderjoe
traderjoe's picture

Yes, the Fed can stay open - because it is a private corporation.

Wed, 04/06/2011 - 13:38 | 1141781 malusDiaz
malusDiaz's picture

MFers still have MY F*ING Money!

 

How can I cancel any and all paycheck -> governemnt, yeah I'll send them a big check at the end of the year, and no more holding my cash hostage.

 

The Government is broken and holding my cash hostage!

Wed, 04/06/2011 - 14:15 | 1141969 ghostfaceinvestah
ghostfaceinvestah's picture

Exactly, the private central bank does not operate within the confines of government.

As for the IRS, at this point we might as well just shut it down, stop collecting all income taxes, and just print money to pay our bills.  That is effectively what we are doing for 70% of our deficit financing anyway - why not go all the way and cover all expenses that way?

Wed, 04/06/2011 - 21:25 | 1143660 nkktwotwozero
nkktwotwozero's picture

"Would that be stimulative enough?" I hear Paul Krugman asking.

--

Brought to you by Carl's Junior.

Wed, 04/06/2011 - 13:28 | 1141730 slaughterer
slaughterer's picture

I can now throw out my ES charts from the last government shutdown.  With POMO running, it will be just the same old same old.

Wed, 04/06/2011 - 14:22 | 1141998 covert
covert's picture

the best will close first. I love it when the police department closes :D

http://covert2.wordpress.com

 

Wed, 04/06/2011 - 12:51 | 1141506 konputa
konputa's picture

Cool, can I delay sending my check to the IRS then?

Wed, 04/06/2011 - 12:56 | 1141538 TruthInSunshine
TruthInSunshine's picture

No.

The IRS's 'mail out' offices will be closed.

Their 'mail in' offices will be open via an emergency line of credit compliments of The Bernank.

 

Thank you.

Wed, 04/06/2011 - 12:57 | 1141546 tmosley
tmosley's picture

Seriously, this is exactly what I was thinking.  I owe a lot of money this year.  The longer I can delay it, the better off I will be.

Wed, 04/06/2011 - 13:19 | 1141686 AZSovreign
AZSovreign's picture

Just file an extension, buy yourself some time until August, maybe we will implode by then and it won't matter.

 

Sadly my friend you don't "owe" anything in reality you are only forced to capitulate through fear of the sytem. If you release yourself from the fear you will see there are many ways to get out of the "IRS" system.

Wed, 04/06/2011 - 13:27 | 1141725 MarketTruth
MarketTruth's picture

Agree, file an extension and 'kick the can down the road'.

ASK YOURSELF: Why pay your taxes now with dollars now when you can pay later with further devalued dollars?

Wed, 04/06/2011 - 13:41 | 1141801 konputa
konputa's picture

Good points AzSovereign & MarketTruth. Good points.

Wed, 04/06/2011 - 13:48 | 1141845 tmosley
tmosley's picture

There is an economic calculation to be made.  If I file, and don't pay, then the penalty is only 0.5% of what is owed per month, plus 4% interest per year.  From a google search on the subject:

http://www.4nannytaxes.com/news/IRS_Interest_Calculations.cfm

So yeah.  Cheap "loans" from the government, bitches.

Wed, 04/06/2011 - 14:25 | 1141930 Antarctico
Antarctico's picture

I am in your boat, owing this year, is there any difference in the coin you ultimately pay between filing an extension and paying later vs. filing your return by 4/15 but not including your check, assuming either way the check gets mailed by the same date?

Wed, 04/06/2011 - 15:56 | 1142456 cosmictrainwreck
cosmictrainwreck's picture

close to a precise wash, as they will calculate penalties on same time period, no matter. IMO, advantage to extension is it doesn't tip the bastards off quite as soon... totally illogical, I grant, but it makes me feeeeel better HA

Wed, 04/06/2011 - 16:08 | 1142526 Antarctico
Antarctico's picture

Thanks! :)

Wed, 04/06/2011 - 21:23 | 1143655 StychoKiller
StychoKiller's picture

Umm, you STILL have to pay on time when you file an extension.

Wed, 04/06/2011 - 12:53 | 1141512 cossack55
cossack55's picture

Oh, yeah, sure. That would be like Hitler shutting down the Gestapo for Octoberfest.

Wed, 04/06/2011 - 12:52 | 1141514 Archimedes
Archimedes's picture

This is just unreal. I feel like I have said this before but there is no way they can keep this charade up for much longer. 3-6 months before I get my popcorn and watch the fireworks and I am not talking about the 4th of July!

Wed, 04/06/2011 - 12:52 | 1141515 Careless Whisper
Careless Whisper's picture

Shut Down is just the name of the latest dog and pony show brought to you by almost everyone in washington. The defecit is 1,600 billion and they're arguing over cutting 33 billion or 40 billion.  They think ur stupid.

Wed, 04/06/2011 - 12:55 | 1141534 SheepDog-One
SheepDog-One's picture

Yes they think everyone is stupid, but theyre quite wrong as many of us have been calling BS on them all along. Watching them play 3 card monty, they think sooner or later we'll believe it but calling the hole card every time.

Wed, 04/06/2011 - 12:54 | 1141516 sundarb
sundarb's picture

So much for Congressional Oversight. Nothing can stop the Fed continuing to print and smoke the dollar!

MIT Brain research shows that money has the same effect as cocaine on the brain...very addictive..lol

Wed, 04/06/2011 - 13:03 | 1141517 hedgeless_horseman
hedgeless_horseman's picture

If the Ministry of Truth is releasing this today, then there must be a very good chance the .gov will shut down.

No problem.  The legislature in Texas only meets every other year for about five months. 

Wed, 04/06/2011 - 12:55 | 1141521 SheepDog-One
SheepDog-One's picture

How fragile and imaginary it all really is, LOL fest here reading this.

Wed, 04/06/2011 - 16:24 | 1142596 downrodeo
downrodeo's picture

+1 you said it man.

Take that a step further and start thinking about energy and matter. We are the dreamers of the dreams, yo.

Wed, 04/06/2011 - 12:55 | 1141522 slow_roast
slow_roast's picture

This is bullish for psychics as the Fed will have to consult the next line of statisticians after government nincompoops for reference on whether to end QE2 never, or a little later than never.

Wed, 04/06/2011 - 12:58 | 1141539 SheepDog-One
SheepDog-One's picture

Soon the FED's will be hiring wizards and Mage's, if they havent already a while back.

Wed, 04/06/2011 - 21:23 | 1143658 StychoKiller
StychoKiller's picture

They'll fit right in with the Economic Witch Doctors/Fortune Tellers! :>D

Wed, 04/06/2011 - 12:55 | 1141523 Things that go bump
Things that go bump's picture

How convenient that this comes right at tax time.  Even when they open back up I can envision them delaying refunds for quite some time.  

Wed, 04/06/2011 - 12:55 | 1141528 NotAllowed
NotAllowed's picture

+1000

Wed, 04/06/2011 - 12:57 | 1141527 unclebigs
unclebigs's picture

I hate to burst your bubble, but the IRS will be collecting $10's of Billions next week not paying it out in refunds.  Those who owe taxes wait until the last minute.  Those with refunds have already filed.

 

LOL!!!

 

 

Wed, 04/06/2011 - 12:59 | 1141552 SheepDog-One
SheepDog-One's picture

Collecting 10's of billions from whom? Bankrupt unemployed food stamp ghost middle class americans? HA!

Wed, 04/06/2011 - 13:27 | 1141726 Note to self
Note to self's picture

Yeah really.  I'm payin' big . . . think I'll get an extension and hang out until that comet thing settles itself in the fall.

Wed, 04/06/2011 - 12:55 | 1141529 Sudden Debt
Sudden Debt's picture

HA! Good find TD!

And there are many more tricks in that box.

In my country, the government still needs to pay refunds from 5 years ago but because the government isn't in place they can't because there are some glitches in the calculation of the refunds.

And by 5 years ago I mean: Last years, the year before that one and before that one and before that one and that one.

It's about 6000 euro's per working person.

For govenrment workers that ammount goes up to about 11.000 euros because it also contains unpaid overtime.

 

 

Wed, 04/06/2011 - 13:29 | 1141736 Note to self
Note to self's picture

You still fixin' taxis, Latke?

Wed, 04/06/2011 - 12:57 | 1141530 WALLST8MY8BALL
WALLST8MY8BALL's picture

They steer the economy like Rodney drove the car in the movie "The Juror"

Wed, 04/06/2011 - 12:57 | 1141533 tahoebumsmith
tahoebumsmith's picture

California's answer was IOU'S, I wonder how the global reserve currency will hold up with the same approach? Ha Ha, Ha..NOT... Nothing like getting to the counter and having the clerk tell you your card has been declined TIMMAY... Maybe you should go out to your car and start digging through the ash tray for spare change...

Wed, 04/06/2011 - 12:56 | 1141541 Rogerwilco
Rogerwilco's picture

What a difference a decade makes. The world was a sunny beach in April 2001.

Wed, 04/06/2011 - 13:55 | 1141883 sun tzu
sun tzu's picture

The US was heading into a massive recession which started with the bursting of the dotcom bubble in March 2000. 

It was better than it is now, but we were headed into this direction due to Fed policies set into place by Alan Greengas and his cronies.

Wed, 04/06/2011 - 14:08 | 1141926 Josh Randall
Josh Randall's picture

Roger that - I'm living proof of that sunny beach lifestyle in April 2001. But when I look back, to be an unknowingly asleep happy sheep like I was then vs. being awake now, I would take the rude awakening heartache again to be awake, aware, and ready for action like now. Knowledge is Freedom - Freedom is power  

Wed, 04/06/2011 - 15:05 | 1142179 Sokhmate
Sokhmate's picture

The beaches are still getting sun today. They're actually is more enjoyable with the awakening. I see clearerer now.

Wed, 04/06/2011 - 16:15 | 1142558 Josh Randall
Josh Randall's picture

+1000% correct

Wed, 04/06/2011 - 13:02 | 1141545 bob_dabolina
bob_dabolina's picture

I think I figured out what that hole in the roof of that one building is and I don't think anything fell in it. I think something (fuel assembly?) skipped off it.

Look in the water, 5th photo down.

http://www.dailymail.co.uk/news/article-1372589/First-clear-pictures-true-devastation-Fukushima-nuclear-plant-Japan-flies-unmanned-drone-stricken-reactor.html?ito=feeds-newsxml

look in the water.

Would also explain radiation levels being 10,000,000 x's higher than normal in the sea water.

Wed, 04/06/2011 - 12:59 | 1141547 gordengeko
gordengeko's picture

Sweet!  Does that now mean I ain't gotta pay in??:)

Wed, 04/06/2011 - 12:57 | 1141548 Raynja
Raynja's picture

But what will POMO buy if there is no new debt. Everyone knows old debt is no good, someone besides PDs might reap the benefits.

Wed, 04/06/2011 - 13:17 | 1141673 EvlTheCat
EvlTheCat's picture

Hasn't stopped the Chinese.

Wed, 04/06/2011 - 13:03 | 1141560 dwdollar
dwdollar's picture

This political maneuver is a "no brainer" really.  Keep extra liquidity in the government and put pressure on the RINOs to make concessions.  The RINOs wouldn't want their credit card maxed out mid-westerners, who dutifully file every year, to feel the pinch or anything.

Wed, 04/06/2011 - 13:06 | 1141581 dogismyth
dogismyth's picture

its their job to keep the corporation going.  That'd be the USA, Inc.  So it looks to me like a smart choice.

Wed, 04/06/2011 - 13:07 | 1141601 Commander Cody
Commander Cody's picture

The Fed is a government agency?

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