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Julius Baer Whistleblower To Expose 2,000 High Net Worth Tax Evaders To The World
Two years ago when the US bailed out UBS and Switzerland from a brief but potentially terminal liquidity crisis, it succeeded in extracting a historic pound of flesh: it forced UBS to declassify thousands of bank accounts of US tax evaders which was the first nail in the centuries-old concept of Swiss bank secrecy. Today, Rudolf Elmer, a former COO of one of the biggest Swiss banks, Julius Baer, may have just nailed the last, and with that set off a chain reaction that will force a huge outcry against pervasive global tax fraud (but likely achieve nothing ultimatel). According to the Guardian, tomorrow Elmer will hand over details of 2,000 "high net worth individuals and corporations" to WikiLeaks which will make him "the most important and boldest whistleblower in Swiss banking history." And since among those exposed will be "approximately 40 politicians" expect all hell to break loose as photos of Assange having a underage orgy with Al Qaeda members are suddenly made public to diffuse what is bound to be another huge (if brief - after all human kind cannot bear very much reality).
From the Guardian:
British and American individuals and companies are among the offshore clients whose details will be contained on CDs presented to WikiLeaks at the Frontline Club in London. Those involved include, Elmer tells the Observer, "approximately 40 politicians".
Elmer, who after his press conference will return to Switzerland from exile in Mauritius to face trial, is a former chief operating officer in the Cayman Islands and employee of the powerful Julius Baer bank, which accuses him of stealing the information.
He is also – at a time when the activities of banks are a matter of public concern – one of a small band of employees and executives seeking to blow the whistle on what they see as unprofessional, immoral and even potentially criminal activity by powerful international financial institutions.
This is interesting: after all it was Zero Hedge that about 18 months ago suggested that all financial professionals should be very concerned: after all, all it takes is one sloppy firing, or one departure without the appropriate non-disparagement and non-truth telling clause, and all hell could break loose as those who were part of the inner sanctum suddenly find themselves on the outside... and wanting revenge. Elmer is just first of many. In the meantime, we hope that every single hedge fund, starting with that particular one in Stamford and going all the way down, has made plans regarding termination of its employees. All it takes is one person who believes they may have been wrongfully terminated to approach the SEC themselves, or, even worse, some blog or alleged terrorist organization with a penchant for disclosing the truth...
More on what will soon be the biggest case of exposed international tax fraud:
Elmer says he is releasing the information "in order to educate society". The list includes "high net worth individuals", multinational conglomerates and financial institutions – hedge funds". They are said to be "using secrecy as a screen to hide behind in order to avoid paying tax". They come from the US, Britain, Germany, Austria and Asia – "from all over".
Clients include "business people, politicians, people who have made their living in the arts and multinational conglomerates – from both sides of the Atlantic". Elmer says: "Well-known pillars of society will hold investment portfolios and may include houses, trading companies, artwork, yachts, jewellery, horses, and so on."
"What I am objecting to is not one particular bank, but a system of structures," he told the Observer. "I have worked for major banks other than Julius Baer, and the one thing on which I am absolutely clear is that the banks know, and the big boys know, that money is being secreted away for tax-evasion purposes, and other things such as money-laundering – although these cases involve tax evasion."
Below is Elmer's more verbose explanation of why the game of mutual assured secrecy works...until it doesn't.
"Once you become part of senior management," he says, "and gain
international experience, as I did, then you are part of the inner
circle – and things become much clearer. You are part of the plot. You
know what the real products and service are, and why they are so
expensive. It should be no surprise that the main product is secrecy …
Crimes are committed and lies spread in order to protect this secrecy."
What is interesting is that Elmer has penetrated not only onshore Swiss accounts, but offshore ones, anmely those located in the Caymans, which as everyone knows is the primary base of operations for tax evading "offshore" hedge fund LPs:
That first crop of documents was scrutinised by the Guardian newspaper in 2009, which found "details of numerous trusts in which wealthy people have placed capital. This allows them lawfully to avoid paying tax on profits, because legally it belongs to the trust … The trust itself pays no tax, as a Cayman resident", although "the trustees can distribute money to the trust's beneficiaries".
Now, Blum says, "Elmer is being tried for violating Swiss banking secrecy law even though the data is from the Cayman Islands. This is bold extraterritorial nonsense. Swiss secrecy law should apply to Swiss banks in Switzerland, not a Swiss subsidiary in the Cayman Islands."
Yet just like with cablegate, the end result of all this imminent disclosure will be merely the confirmation of what everyone has already long suspected: that nobody rich pays taxes, and all US, and world, politicians are massively corrupt. And therefore, no criminal charges will be filed against anyone. Expect of course Assange, who will soon be branded a threat to US national security.
Unfortunately, US society, having lost all forms of checks and balances. has gotten to a point where no incremental information will do anything to even dent the ponzi lie. After all, the simplest observations is that Madoff is in jail for life, while sacrifices are made on Ben Bernanke's altar each and every day. And they say gold is a religion...
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Tax Evaders ?
(Ras' - WallStreetBear)
One of the reasons Rasputin took an extended break from posting publicly on this board is the sheer magnitude of mis-information, false beliefs and other goings-on that frustrate one who seeks to disseminate the truth.
And, yet again, when the Mad Monk posted that he recently paid his LEGALLY OBLIGATED 28% capital gains taxes on his whip and spoon sales in 2010, a poster chimed in with TOTALLY INACCURATE information, stating that it wasn't necessary to bother with paying income taxes on shiny coins, since they are supposedly "exempt" from taxation.
Well, below please find a private message response that Ras made to the poster in question (with the name changed to "anonymous" in order to save said poster embarrassment), which Rasputin just sent, describing that--indeed--all GHS/SHS types are ABSOLUTELY REQUIRED to file and pay capital gains taxes on their barbarous rock profits.
To wit:
"(Un-named poster): 'I have sold some AMERICAN denominated gold coins and was told by more than one coin dealer and accountant that American denominated coins were not taxable.'
(Ras Reply): You were TOTALLY MISLED by the coin dealers and this accountant. Period. And here's the proof:
First, let's begin with "IRS Topic 409", right from the IRS' own Website, found here:
http://www.irs.gov/taxtopics/tc409.html
In it, you will find the following description of what qualifies as a "collectible":
'Net capital gain from selling collectibles (such as coins or art) is taxed at a maximum 28% rate.'
Now, where you--and your advisers--have COMPLETELY MISINTERPRETED the tax code has to do with the IRS ruling on what constitutes a DISTRIBUTION (or not) regarding transferring coins into an IRA. Period.
And here is the ruling on that little matter, again repeated from an IRS "Private Ruling" LETTER:
http://www.trustetc.com/equity-university/letter-rulings/letter-ruling-200217059.html
...whereby IRS determined--that SOLELY for the purposes of whether or not to treat putting shiny coins into an IRA (and for NO other intent or purpose)--the transfer of these assets into the IRA (and NOT, I repeat NOT the general sale of coins) MIGHT be treated as a tax-free DISTRIBUTION INTO THE IRA.
However, if you actually take the time to read the private ruling, you will see that the IRS DENIED the request of the taxpayer to have his coins treated as a tax exempt DISTRIBUTION INTO THE IRA, because he was allowing a third-party to act as "custodian" for his PMs.
So, once again, we have people making half-baked, INCORRECT, AND POTENTIALLY VERY COSTLY (in terms of tax penalties and interest) assertions, that have ZERO BASIS in fact, when it comes to having to pay 28% capital gains taxes on selling gold and silver coins.
So, rather than be 'upset' and 'taken aback' at my response, perhaps you should thank me for saving you the pain, humiliation, embarrassment and cost of making ABSOLUTELY INCORRECT assertions, then contacting IRS, begging for their forgiveness, and paying up the taxes, penalties and interest that you owe.
And if you still won't accept my well-researched reply, perhaps you should contact IRS directly and ask them what their position is on this matter.
I trust you are going to get the exact, same answer that I just gave you--and one that is IN DIRECT OPPOSITION to the horrid (and absolutely incorrect) advice you received from those other parties.
Heh, perhaps Ras should charge you for his help.
LOL."
.. " Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change. " .....
As long as alternative currencies - such as PM's, are taxed and bought and sold on fiat evaluations, then they cannot become realistic alternatives to the paper that sets value and determines basic wealth transfer. If the government wants to stop underground barter of PM's (still, BTW based on fiat values) they can tax and legislate the trade out of business. Seems like that is already starting.
28% WTF
3 years in gains, blowtorched that fast, geez' the last seven days for the bugs has been a bloodletting ..... It's really brutal, schiff, jesse, sinclair all dropped the ball no warning about silver wheaton or the tax bullshit .... ?
So what's the deal? The skinny was 1350 would start causing serious spasms in the world market a few years back. How close are we to breaking you're entire financial system. Is it 1480? I think it's 1480ish with the qe's about right now. If we run silver up it will make you lose control of poor markets and this causes instability in every poor country. If we run gold up this will cause massive inflation in the rich markets or g7 won't it? You'll be dead before summer so why are you bringing out a 2012 law as your savior. The foods going to stop rolling the gas is going to stop rolling long before then.
You're just not seeing the psychology of it all. Gold holders don't get any gains and don't care about gains. They just don't want to be stolen from and you are not stealing from us. You're little conomy system will be ripped to shreds before you get to use your law.
Do you think humans are the only thing you have to control. Wasn't it really really freaky after goldman and bp pulled the plug on the gulf of mexico how all the fish just went fucking nuts. Whales trying to sink boats, jellyfish stinging people. You know it's weird. I'm into biology big time but I never ever paid attention to swordfish. But for some odd strange reason I know why they are so violent and why they like to eat squids.
Ron Paul wants to make gold legal tender (capital gains taxfree). RP is the original tea partier. Sarah Palin and Michele Bachman are also tea partiers. After the shooting in Tuscon, much of the MSM started talking about the gold bugs on the far right and the teapartiers. Those of you ranting about teabaggers and the radical right while holding gold are going to have your convictions put to some major tests.
This taxation of gold is about to get much more political, as the NY banks try to shake the last gold out of the hands of the little guys. In 1933 they got Roosevelt to do it. Now they have the IRS, TSO and HS ready to do their bidding. They have Cass Sunstein and the FCC tapping the internet to help those 16000 new IRS agents that will be hitting the streets this year looking for all that right wing, teaparty/nazi gold, and if you are holding gold, be prepared to be called a nazi teabagger. Sorry leftys, you won't be able to have it both ways, so you might as well do the patriotic thing and sell your gold now. After all, it's for the good of JP Morgan and all those other liberal east coast bankers.
you can't even give food away to a hungry person anymore.
http://www.activistpost.com/2011/01/city-puts-stop-to-homeless-outreach....
what a joke.
Lookie how smart the NY Times is:
This is what Krugman likes:
http://www.youtube.com/watch?v=9xi4O4RvlnQ
Exactly. Looking like more and more goons on the big bank and govt payrolls frequenting ZH over the last 6 months. Starting to look like a penny stock forum up in this bitch.
Hey Spalding, how's that 457 plan treatin' ya?? You sell away your family's souls also just to secure a spot in their apocalypse bunker?
What is this, amateur hour? 3 years in gains in gold? blowtorched? Maybe in your world but not in an investors nor traders. And no one was aware that you pay taxes on gold capital gains?....really, is this truly amateur hour?
The gold bashing, led by RobotTroll, who is pissed because he couldn't sell his rusted tungsten and failed to get a job with Sinclair has made this forum increasingly irrelevant.
You still haven't answered me spalding. What is the fucking "gentlemans agreement" between the psychopaths. What price does gold hit before they start feeling fucked by thier fellow psychopaths. You need to answer this question. Or I don't think people are going to let you stay in the building.
ZZZZZzzzzzzzz ... ZZZZZZzzzzzzzzzz ... whaaaaa mmmmm what ?
Oh... , gold will be down over the next few year, maybe up again 2018-20. Read up on some Jim Rogers he will help you with this question, I'm not a 40 year commodity guru like Rogers.
....... "Gold is “overdue for a rest” and probably will fall after a decade of gains that sent prices to a record, said Jim Rogers, the chairman of Rogers Holdings who predicted the start of the global commodities rally in 1999.
While gold “may go down for awhile,” the metal is “going to go over $2,000 in this decade,” Rogers, who owns gold, silver and rice, said today during a presentation to business executives in Chicago. Gold touched a record $1,432.50 an ounce in New York on Dec. 7. The price closed today at $1,387. " ..................
Oh. You got Jim Rogers to fold. He's like our shepard and we'll follow him. You have no idea what your fighting and you will beat the bush expecting the leaves to fall out and nothing will happen.
http://www.youtube.com/watch?v=GfQTZBA6Jg8
So what is it Mr. Smells. What's the price that turns chinese students laughing at geihtner into chinese special forces stabbing the shit out you. What were the terms of agreement for handing over the throne. What is the listed price of the handover. And what constitutes a violation of the agreement between the "gentlemen". Or shoud we just keep gold bugging you until something fucking snaps.
Everyone is on the same page. Henry made sure of this many moon's ago.'
Don't fight the tape. Ever.
http://www.guardian.co.uk/world/2011/jan/16/stuxnet-cyberworm-us-strike-...
The chances of a military strike against Iran this year are receding because of the success of a joint Israeli-US cyberattack on the country's nuclear facilities, according to officials and analysts with knowledge of the clandestine operation.
The New York Times reported today that Israel, with US help, had set up a model of the Iranian nuclear process at Dimona, the Israeli nuclear arms development centre in the Negev desert, to test a sophisticated destructive programme.
A computer worm, Stuxnet, was known last year to have been inserted into the Iranian nuclear operation and Iran admitted its programme had been delayed.
What is new is the role of Dimona, where the Israelis are reported to have been spinning nuclear centrifuges virtually identical to Iran's nuclear plant at Natanz, and the extent of involvement by US researchers and intelligence agencies. The centrifuges are used to enrich uranium.
Last year, rumours of military action began to be heard louder round Washington, with diplomats and officials warning that this year would be the year of decision on whether to launch a military strike. But the mood has changed.
An official told the Guardian that the military option is now less likely, citing not only the cyberattack, but also the synchronised assassination last year of two Iranian nuclear scientists, attributed to Israel.
A leading analyst, Avner Cohen, the Washington-based author of Israel and the Bomb and Worst-Kept Secret: Israel's Bargain with the Bomb, also told this newspaper: "In the short term, it surely makes military action less likely. In fact, I do not see any military action against Iran anytime soon. It takes the pressure off. It does not mean military action is off the table, but it is not a short-term concern."
Cohen, from the Monterey Institute of International Studies, said he believed reports about testing the Stuxnet on centrifuges at Dimona and the involvement of the US were largely accurate.
Meir Dagan, head of the Mossad, the Israeli overseas intelligence agency, gave an unusually upbeat assessment of progress on Iran in a report earlier this month, on the eve of his retirement. He said Iran's nuclear programme had been delayed by at least a year. The US secretary of state, Hillary Clinton, echoed this but she attributed the delay to economic sanctions.
According to the New York Times, the Stuxnet worm included one component designed to send Iran's centrifuges spinning out of control and another to record normal operations at the nuclear plant and then play them back so that everything would appear normal while the centrifuges were tearing themselves apart.
If true, it would be the biggest cyberattack yet launched anywhere in the world, outstripping those attributed to Russia and China.
The idea may have developed from work at the Idaho National Laboratory, part of the US energy department that deals with nuclear arms, which teamed up with international companies such as the German company Siemens to look at the risk from cyberattack.
Phantom Ray Rollout ~ ??? A wave if needed.
http://www.youtube.com/watch?v=Hg6nBv8-wG4
Is it made with the finest in microsoft and intel products. Becasue we all know they aren't fuck ups.
Don't you ever get the feeling you need 100 million gallons of fear juice and all you got is one fucking slurpee.You stupid fuckups.
Rogers "owns rice..." so I guess he's in the starvation business?
Not to worry. Every one of our politicians is 'aspirational' :)
.
The outpouring of sympathy for Giffords made me ill to watch. It's as if people in Congress are living gods or something. As hateful as it may be to say, the US Government, including the Congress has completely sold out the American public. They are regular people, yes, and deserve humane treatment, but they cannot be allowed to continue these destructive policies.
I would have to agree with this.. My GF and I were talking about how many horrible, mind numbing deaths and tragedies happen around this world daily but we all stop and weep for what the media proclaims as "special" people.. Quite disgusting actually.. I fee bad for all involved in AZ but not more so than other tragedies I'm aware of.. Even in other countries.. wow.. I'm such a monster for not following the sheeple in their special sadness for special people..
Murders have been taking pace at 1/day in 2011 in Prince Georges county within earshot of the US Capitol, but you don't hear Katie Couric wailing about that, do you? Obama doesn't fill an arena with cheering sheeple over that, does he? And why not? Because drug murders are not as suitable vehicle for laying the groundwork for more gun control, for Obama's national police force fantasy, for trying to goad conservatives into backing down on nuking ObamaCare, and for inexplicably painting conservatives as the bad guys.
I have to agree too. I lean Republican at times, nevertheless I found Boehner's "an attack on one servant is an attack on all servants" comment to be rather disturbing.
Switzerland is but one of many off-shore tax evasion conduits. There are many. Including a heavily subsidized U.S. Protectorate in the Mediteranean.
But the most important detail, yet to be unearthed, is where the politicians hide their dirty bribe money offshore. This will explain clearly why elected officials, purportedly representing their constituents, consistently vote against the interests of their constituents.
How does "Hope and Change" morph into "more of the same" after Hank Paulson engages our community organizer, the purported People's Champion?
How does "save the Perp" prevail over "help the victim get justice"? The death of Trust in America supercedes all the political claptrap shovelled out daily.
Follow the money. The money is squirreled away offshore.
No wonder we have our politicians threatening to murder Julian Assange. No wonder a one night stand with a groupie suddenly becomes rape.
The greater the American politician squeals, the more he has to hide.
There is only one reason to have a secret bank account -- criminal activity. The Swiss and other offshore bankers have been enabling drug dealers, arms dealers and tax cheaters for decades.
and just plomb full of the audacity to lie to our face!
I guess you just have to buy ore laden property now?
IndyMac fraud investigation leads regulators to small bank rape.
quite a series
http://www.youtube.com/watch?v=damy_0HvyUI&feature=related
I'm registered.
First Name: Fuck
Middle Name: Your
Last Name: Taxes
Alias- Fuck Your War, Fuck Your Rules, Fuck Your Authority, Fuck Your Entertainment, Fuck Your Religions, Fuck Your Emotional Manipulations.
http://www.youtube.com/watch?v=cHTDkJ-bQqM&ob=av2el
I like you. Want to have ice cream sometime?
both of you are special.
Consider me part of the fan club..
Na. I'm trying to get a date with fbi agent spalding smailes.
aha! so that's it! Smailes is with the Bureau? (counter-terrorism, I assume) Now it all makes sense. I could not for the life of me figure out why he so dominated start of the thread, ranting about all kinda shit with small bearing on topic, etc. etc. Classic mis-direction and subterfuge, I reckon. But more likely because it was Saturday night mid-night, SNL was almost over and he only had one more bottle of Ripple......
No worries. They have to control. To control they have to share energy. Sharing energy puts them right the fuck smack dab in an anal probing nightmare.
I think his and chumba's relationship is going to be a bit rocky from now on.
Spalding,
The asshole that came up with the new 1099 reg. ought to be taken and put into slavery just like people that are going to be (hopefully this portion of the "Health Care Bill" will be squashed) in additional bondage to the Federal Govt.. First of all, our great government isn't able or willing to use the information it has to prosecute big time fraud. What the hell are they going to do with all the useless fucking info about how much I spend on gasoline or electricity. Idiots that invent these rules have no idea how much time and money are spent trying to comply with the forms that are already required. Now I'm going to be required to keep another recording system and spend money and time on that and postage for the hundreds of forms for individuals I do business with! All that information is supposed to be kept by the ones that take my money in the first place. Government wants me to work to help them ferret out tax cheats. My books are open to any legal inspection. My business hasn't made a profit for three years and now bureaucrats want me to put in more hours and spend my hard earned savings/hopefully-income without compensation. To me that smacks of SLAVERY!!!!!!!!!!!!!!
What is the prognosis for the percentage of business that comply with this tax law scam?
I hope reams of info are broadcast world wide about the big time scammers esp. the criminals in our govt.. I just hope there are plenty of body guards and lots of Kevlar to protect Herr Rudolph from assassins before he gets the info out. I can't believe he would publicly announce when and where he's gonna be to hand his records over for publication. Maybe its a fake out and he'll pop up someplace else leaving the snipers scratching their balls?
++++++++++++++++
Six "++++++" will do it.
Equating paying ordinary taxes with "slavery" is indeed worthy of Jared Lee Loughner.
Criminal acts in the U.S. financial sector destroy 40% of the world's wealth, but no mention of our vulnerability to such massive crimes, no "Come to Jesus" moment that capitalism is not inherently stable. Next we'll get screams about "government mind control" and echos of whatever the madman Rush "Straight Shooter" Limbaugh has been saying.
Hmm-
JLL hmm. Warren Buffett criticises the tax code for failing to fairly tax corporations. Most business ventures feasibility depend on competition at the margin, meaning remember mom and pop shutting down when Wal-Mart came on the scene? A very visible system of punishing the small players and rewarding the large players has supported wealth redistribution upward for a very long time. Maybe 10,000 prosecutable fraud cases unprosecuted. Appointment of tax cheat Tim Geithner. A private elite consortium permitting the fraudulent packaging of mortgages without necessary documents to be purchased by the monetary authority. Trillions poured into busted balance sheets while reserves pay interest to banks make it unnecessary to provide liquidity to small players, allowing greater leverage to the top .1%. 2 party system united by skulls, bones, and the Bohemian Grove, among countless other institutions collaborating to maintain an unfair playing field. Constitutional rights abrogated, constitutional money outlawed, unconstitutional wage taxation implemented. Mainstream media consolidated, Glass Steagall overturned, Stock market monetised, Illegal war implemented under false pretense, Rumsfeld announcing trillions unaccounted for in military spending on 9-10-01. Imperial conquest planned out and implemented, untold billions unaccounted for, flown to Iraq on planes. Corporate political contributions upheld by Supreme Court. Food donations shut down by municipality under the pretense that it is bad for the health of the homeless. Massive increases in commodities and cost of living labeled deflation. This is not functional representative democracy, and there is no doubt that the taxes levied by the Feds, who refuse to limit their actions to constitutional stipulation, would be deemed onerous by our founding fathers, far and away beyond the stamp act. The solution? No TBTF. Democratic representation has failed at the scale of the Federal Government, so bring the power home, to states, to businesspersons, to voters. Corporate charters subject to revocation absent the performance of the duties due to the populace. Corporations status as citizens revoked. Until then? Get compared to a murderer because you object to the means of tyranny?
not sure how to undoublepost.
Now they want to pass a bill to make it a federal crime to carry a firearm within 1,000 feet of federal officeholders and judges in response to the shooting in Tucson:
http://hotair.com/archives/2011/01/11/king-to-introduce-gun-restriction-...
Y'all better get used to being perpetual criminals (also known as serfs) who are allowed your freedom only by the good grace of your liege lords in Washington. Welcome to the land of hope and change.
I think we would all be better off if we just stayed 5,000 feet away from all federal officeholders and judges...you don't even need the firearm part of the bill.
http://www.youtube.com/watch?v=yCVqf4Spq18
I can do better..
http://www.youtube.com/watch?v=Z8DehAUimRA
or?
http://www.youtube.com/watch?v=3rV170xEEgw&feature=related
You said 5,000 feet right, cause if its yards....
We should require them to stay 5000 miles from us.
5,000 miles underground, where it is nice and hot, would produce better results for the republic.
what would be needed then? nope the FFL covers explosives too...
You Crazies get to work... there are still alot of them out there!
i asked my attorney if i could pay him in the future, with gold coins. he said NO. then i asked him if he had a gun. he said he build in a HUGE safe sorta room in his very large home up in the mountains. bullet proof etc, cause he owned so many guns and didn't want his kids to ever be able to get to them. why do you have so many guns, i asked? cause i served in the U.S. Military. wonder if he is up in arms about this potential law passing?
guns are money... thats why you keep them in the safe.
As if a federal official deserves praetorian guards and religious status? The Giffords shooting must have put the fear in the them, and that's for the good. If they manage to pass such an idiotic law, the end can't be far off.
[Now they want to pass a bill to make it a federal crime to carry a firearm within 1,000 feet of federal officeholders and judges in response to the shooting in Tucson...]---ConfederateH
Why don't they then just build or designate thousands of Federal buildings within 1,000 feet of each other in all cities across the nation.
Welcome to the new world: Only criminals are free. Good boys are slaves.
That yoke getting a bit tight eh? Look, the 1099 info will be used to prosecute those who manage to get in the way of the politically connected. If a prosecutor took a long look at most any citizen, they could find something to charge them with. Until there's profit or a purpose, they'll just let it ride.
Just think about all that data they'll have after just a year of collecting 1099's! Now, shut up and make a profit. 3 years no profit? Pffit. Get to work.
Yeah.. I can think of other things to do to this person..
I'm similar to you.. No profit since 2006.. EVERY dollar of my business is already coded and accounted for with my taxes every year... This will be a nightmare and is completely unnecessary and actually looks as if it is INTENDED to destroy business in the U.S.
I file my taxes EVERY YEAR and account for EVERY dollar and am fighting a 16k bill from the IRS saying I didn't file a certain form and owe this in ESTIMATES !!!.. They continue to bill me, not bothering to look at my FILED TAXES from that year.. It is so insane.. Completely out of control..
A friend told me that he owed the IRS $800.. they sent a bill AFTER he paid.. He called, they cleared things up.. at the end of the phone call my buddy says.. "so we're straight right?" The IRS agent says; "Yeah,, for now"..
Fucking assholes.. It is so far out of control the only fix I can think of is kind of scary... I have been treated so badly trying to fix problems with them that THEY create with their lack of competence... Honestly, I'm about at my wits end with these people..
well one oz silver will fall below the threshold of 600 on oz gold will not.. hint
and by all means if you own a sack of 90% silver 714 oz bought for 3000 dollars .. when silver hits 50 that sack will be worth 35,000.. at a hundred 71,000 and when you take out 10 silver oz.. and get 500 bucks at the coin shop in cash.. make sure your report it to the IRS,, lol no 1099
every other day for a month ,, please don't eat the silver .. be smart ,, exchange it for the monetary equivalent in local exchanges ,,
lol, I thought that was great!
+++
Nice seeing you back dumpster!
smelly you idiot, the goldbugs are no longer scared about the $600, 1099 form. You have to be creative and come up with new half truths presented in disingenuous ways, a lie can only be scary until Tyler gets to it and blows it up. Then we have to come up with a new scare tactic. Get it. Don't use old lies, no mas, por favor
Your metals salesman LIED to you ?????
OMG - ROFL....
This is ridiculous and a terrible burden to impose on businesses. Comply with this law by filing those 1099s on paper with the IRS. Overwhelm them with paper. Make them do the data entry for all this information. Do nothing electronically for the IRS. Why should you do their work for them?
The ridiculous new law re the 1099s are yet one more reason I would NEVER start a new business here in the USA. Years ago I started two businesses and started another with a couple of others.
Never again. We'll keep our business in Peru going though. Less burdensome to have a business there.
hey - I thought those bad-ass newbies were gonna REPEAL the stinkin' $600 thing. Another empty promise? Or is it because it's buried in Obamacare?
I really doubt this law will stand in its present form - at the very least they will have to raise the amount, it's ridiculous.
Smailes, you are a mental gimp.
"right from the IRS' own Website"
dont quote it as gospel
buyer beware
"It is unfortunately all too common for government manuals, handbooks, and in-house publications to contain statements that were not meant or are not wholly reliable. If they go counter to governing statutes and regulations of the highest or higher dignity, e.g. regulations published in the Federal Register, they do not bind the government, and persons relying on them do so at their peril. Caterpillar Tractor Co. v. United States, 589 F.2d 1040
Translation:
We have better weapons; give us your money. Laws are to keep the victims quite while they are ravaged.
just because it is written, does not make it true.
Take "In God We Trust " for example. Isn't that why you are buying Gold and Silver, the paper is not worth the words printed on it?
The dis-information on the web is no different. It is put therefor those who know no difference and don't do their homework... a fools paradise and a perfumed sewer to trap the ordinary guy.
Perhaps the reason the IRS is requiring reporting on PM of more than 600 is to limit the ownership. Sort of like (in some places) having more than one joint is a criminal offense!
Some day the same elite forces, that have blown up everything else so far and robbed you of your wealth, will bring down the curtain on owning Gold and Silver. They are just waiting until it is profitable for them to do so. You have not outsmarted them, we are all meat puppets...little more. Look at that jack-ass Cramer in his ad on the right side of this page...even he thinks his fortune is safe from them.
Think I am wrong, wait and see.
Apalling smelly and Jon Nadler are the same person...belive me, I know am Jon NAdler
AM Jon NAdler and I approved this anti-gold message
must be a newbe that junked you. I like your use of false image as its clear you are on our side much like the Turd posts, pretending to be Blythe.
Thank you , i find it humorous.
+ $1360 to both you guys!
LOL...
Spalding_Smailes Taking Up 22 Inches of Column Space:
The 9th Rule of Fight Club
Newbies have to be quiet and just read their 1st 6 months...
Note: If your comment is more than 6 inches... ask Tyler to guest post...
Assange will threaten. Seriously threaten to release them... soon.
Real soon.
2020?
Like the BoA stuff, eh? Is this to suggest that it might be safer to release government secrets than it is to release bank secrets?
Systems eventually produce the truth, through natural forces. This is great news.
the power of positive speaking?
Holy fuck!....what time is it in Geneva?....I need to call my banker.
Thats FUCKING Halarious!!!!!!!!!!!!!!!!!!!!!!!!
Now if only one of those names turned out to be Ben Bernanke, or Barney Frank, or .... Yeah dream on!
Heh. We'll know it's for real if he gets suicided.
You mean if he kills himself or gets killed in a freak accident.
Even if they are on the list, I don't think many Americans know who Ben Bernanke is or what is really going on, unfortunately.
Sad but true.
It's going to take $5 gas and food shortages to perk the interest of most American boob tube zombies.
Nah. Gas prices will have no effect, don't worry. There will be free fuel debit cards for the "poor" [ie: everybody except you]
Remember the good old days? Those pleasant times when American banks still had dignity and the Fed used Cayman banks to do its dirty work.
All that's left now is the vulgar POMO carnival, full frontal insolvency, and journolists and the financial Press walking around with dirty mustaches.
To the "Angencies": You are all fucking chumps.
Switzerland and the Caymans? Sounds like fun, but could I put in a request for Austria and Bermuda the next time?
40 politicians evading taxes in this climate *just* might get some attention from the sheep.
Dear God: please let the evaders be from both sides of the aisle, please let the amount of taxes evaded be stunningly massive, and could you please throw in some bankster tax evaders too?
+
+1 ... and I look forward to "all hell breaking loose ..."
Make it so.
Im hoping its more of the Limosine Liberal types. The ones who pontificate about everyone else paying more taxes.
How about John & Teresa Kerry? Thanks to donations to "charities" and sailing their swift yaugt under a different flag than their state of Massachusetts. they pay a lower regressive tax rate than people on food stamps.
Gotta love people doing lc(gods) work. And more love for the savvy to show they can dance disco.(tax code)
Would NOT surprise me in the least if Algore's name or one of his "green" affiliates is on this list. We'll probably get several U.S. senators. Any politician caught should be immediately fined, impeached and return home to face the public.
*IF* it happens, I think it's a good time to go long tar and feathers.
I am willing to donate propane / natural gas as needed for the full duration... of whatever tar and feathering is required and / or needed.
wisefool
http://www.cinemablend.com/images/sections/10564/wesley_snipes_10564.jpg
Federal tax convictionsOn October 12, 2006, Wesley Snipes, Eddie Ray Kahn, and Douglas P. Rosile were charged with one count of conspiring to defraud the United States under 18 U.S.C. § 371 and one count of knowingly making or aiding and abetting the making of a false and fraudulent claim for payment against the United States, under 18 U.S.C. § 287 and 18 U.S.C. § 2. Snipes was also charged with six counts of willfully failing to file Federal income tax returns by their filing dates under 26 U.S.C. § 7203.[13] The conspiracy charge against Snipes included allegations that he filed a false amended return including a false tax refund claim of over US$4 million for the year 1996 and a false amended return including a false tax refund claim of over US$7.3 million for the year 1997. The government alleged that Snipes attempted to obtain fraudulent tax refunds using a tax protester theory called the "861 argument" (essentially, an argument that the domestic income of U.S. citizens and residents is not taxable). The indictment said Snipes used accountants who already had a history of filing false returns to obtain refund payments for their clients.[14] The government also charged that Snipes sent three worthless, fictitious "bills of exchange" to the Internal Revenue Service (IRS) in the amounts of $1,000,000 (on November 30, 2000), $12,000,000 (January 18, 2001), and $1,000,000 (September 10, 2002), with each accompanied by an IRS tax payment voucher coupon.[15]
Snipes was a client with American Rights Litigators, which Kahn operated. As a client, Snipes gave a percentage of his tax refunds to Kahn's organization.[16]The government also charged that Snipes failed to file tax returns for the years 1999 through 2004.
In a December 4, 2006 letter from Snipes in response to his indictment, he declared himself "a non-resident alien" of the United States (in reality Snipes is a US born citizen).[17] Snipes said he was being made an example of and unfairly targeted by prosecutors because of his fame in connection with the federal tax fraud investigation. He attempted unsuccessfully to get the trial moved away from Ocala, Florida on the ground that racist attitudes in that town would prejudice his chance for a fair trial.[18] Snipes faced the possibility of up to sixteen years in prison and substantial fines if convicted on all the charges.[19] The trial began on January 14, 2008, in Ocala, Florida,[20] with opening statements beginning on January 16, 2008.[21]
Mug shot of Snipes taken in April 2008.
On February 1, 2008, Snipes was acquitted on the felony count of conspiracy to defraud the government and on the felony count of filing a false claim with the government. He was, however, found guilty on three misdemeanor counts of failing to file Federal income tax returns (and acquitted on three other "failure to file" charges). His co-defendants, Douglas P. Rosile and Eddie Ray Kahn, were convicted on the conspiracy and false claim charges in connection with the income tax refund claims filed for Snipes.[22][23]
On April 24, 2008, Snipes was sentenced to three years in prison for willful failure to file federal income tax returns under 26 U.S.C. § 7203.[24][25][26] While defense lawyers urged leniency, prosecutors argued that Snipes should be made an example of because of his fame.[5] Kahn was sentenced to ten years in prison, and Rosile was sentenced to four and half years in prison.[27] Until December 9, 2010, Snipes remained free on bail to work, even traveling internationally, while he appealed his conviction.[28][29] In April 2009, the Los Angeles Wave reported that Snipes has refused to answer certain questions in connection with a talent agency lawsuit in which the agency claims that Snipes owes over $1.4 million in commissions. Snipes is reported to have taken the position that his answers could incriminate him in a federal tax investigation. Lawyers for the talent agency stated that Snipes' lawyer advised the lawyers for the talent agency that "Snipes and his [ . . . ] companies are under an additional investigation by the Internal Revenue Service and Snipes would be asserting his Fifth Amendment right against self-incrimination and would not answer any questions at his deposition."[30] On May 22, 2008, the trial court ruled that Snipes could remain free while his appeal is being considered.[31]
On July 16, 2010, in a 35-page decision, the United States Court of Appeals for the Eleventh Circuit affirmed Snipes' convictions.[32][33][34] At the conclusion of its decision, the Court of Appeals stated:
On November 19, 2010, the United States District Court in Ocala, Florida denied motions for permission to interview jurors and motions for a new trial which had been filed by attorneys for Snipes. The Court ordered that the judgment of commitment be enforced.[35] In the seventeen page Order, the Court also granted the prosecution's motion to revoke the bail for Snipes.[36]
[edit] ImprisonmentOn December 9, 2010, Snipes reported to the Federal Correctional Institution McKean near Lewis Run, Pennsylvania.[37][38] In a television appearance on December 7, 2010, Snipes was asked by CNN's Larry King if he was nervous about going to prison and admitted his trepidation about doing time. "I think any man would be nervous," Snipes said. "Given the length of time that they are suggesting that I be away from my family, away from my profession, away from my ability to provide for my family and for those who have depended upon me to contribute to society ... I think anyone would be nervous about that."
Snipes' projected date of release is on July 19, 2013.[39]
Gully Foyle
Snipes apparently went hard core. If it was true principal "the 861 argument" I do not support him. I believe the government does somethings better than anyone else can, and should collect revenues from the people to accomplish those tasks.
If Snipes was actually trying to save tax dollars because of the choppy revenue created by his profession and a tax code that punishes that, then I can support his protest. The tax code has more words than the bible, yet is still very unfair to certain types of honest hardworking people. Regardless of income level.
I would still be okay with some people being hurt by the tax code if it allowed the gov and central planners to collect the necessary data to manage and regulate a quasi capitalistic society. But it did not work out that way. With all those tax returns coming in, could not the gov & central planners figure out that a large majority of small businesses were levered up to their eyeballs, and much of this debt on their primary residence? So if there is an economic downturn, people would lose not only their business but also their home. Where they raise their families. And even before the bailouts, the non-risk takers suffered inflation on everything they needed to run their less risky lives and businesses. Its is really hard to compete with a guy whose business war chest is a 125% LTV liar loan on a 1000 sq foot condo "appraised" at $1.2 million.
The lack of separation between government policy (fiscal/tax code) and Banking (monetary) was the root of all this. But it was a boon to the sociology and psychological types. It gave them an opportunity to earn lots money with their degrees as mortgage brokers and real estate agents and other GDP boosting "professions".
But we are the USA right? Not a big deal. Just bail everyone out and Happy days are here again. Nope. We still have not done the critical thinking necessary to conclude de minimus in fractious to make sure we wont cross the line again. (gov/banking/bubbles) Cannibalism is bad. Regina v. Dudley and Stephens Queen's Bench division. 1884. not 1984.
Dollars to donuts says there won't be any US politicos among the lot.
My guess is that there will not be anyone sympathetic to Israel among the names released.
you do understand... as a jesus freak... that the jews are gods choosen people... read your book stupid.
Does the President's Working Group on Financial Markets pay taxes?
Assagne, shut up release them already.
I suspect the people with accounts at UBS have already been blackmailed for politican contributions or whatever. Obama was golfing last year with the UBS CEO at Martha's Vineyard. And that was just to scare them. Good times.
WIKILEAKS= WEAK LEAKS
Assange is a CIA plant. Who in their right mind releases 250k cables of junk? A. Only a patsy.
Junk, you say. Less than 1% of the 250k cables has been released triggering the biggest biggest ambassadorial reshuffle in the history of the State Dep., and yes, move on, nothing to see here. Corruption, barefaced lies, routine violations of US and International Law and blatant hypocrisy oosing from every single cable, and yes, nothing to see here.
Dear illiterate space monkey, you deserve every nasty bit of the police state you now have. Enjoy.
I would suggest that you read your last statement while looking in a mirror. What has weakiweaks released that was previously unknown and relevant? Anything better than this, found on my beloved ZH?
http://www.zerohedge.com/article/how-allstate-used-sampling-confirm-bofa...
That's the kind of stuff we the people need. Not endless delays and stalling.
What have we learned?
Everyone in the Middle East thinks the US should attack Iran (cables specifically selected to make that point).
Talks are being held up with N. Korea because of an insistance by N. Korea's neighbors that there be 5 way talks and no unilateral talks.
Everyone thinks that Sarcozy is a pig-man slimeball ... and he smells bad
All diplomats and politicians are two-faced bitches
Just the last one, alone, would require a reshuffling of all two-faced slimeball diplomats.
Bottom line is that the PigMen who are well connected will always be rich, no matter how catastrophic their careers.
Look at Meriwether, he raised money with ease after LTCM, more than once.
Now he's retired, sipping martinis in Greenwich with Hank Paulson, Alan Greenspan, and other semi-disgraced officials who retired "set for life".
If the financial markets implode, these guys won't even feel it.
Ever.
And I thought I was a cynic.
That is not cynicism...that is not-cutting reality.
Robot is just playing with you, he's no cynic, he just plays one on ZH so that his anti-gold arguments will get more attention
Wow.
No charts. No babes. No junks.
Well...fuck the charts and the junks......
Wait, you left out the babes!
I don't fuck them, my friend, I make slow love to them. I am, after all, a humanitarian.
If you're in Hong Kong there's a place for that:
Chik Fuk Street, Sha Tin, HK
Tel. No. : (852) 2634 0127+You can call 'em if you need directions.
Well, I ain't in HK right now, but I do appreciate the tip, good buddy.
There ya go. The US has been host to the greatest number of deposed dictators that the world has ever seen.
Perhaps so, but my primary concern is the fiat system collapsing, and at least creating some cracks in the Matrix.
This isn't about retribution, it's about escape.
Retribution is the only escape.
No, really... if you focus on retribution you damage your own character. The goal is to get free from the thugs, then to live as men. Staying with that is much healthier.
They've got an answer to that strategy. Forcible inclusion.
The justification is something like. Other cowards let me get away with it. They don't mind you having a higher self or higher character. They use it against you. The higher they can make your character the lower they can sink.
Can't wait to see the names. I hope the "do as I say, not as I do" crowd is well represented. I'd probably pass out from joy if Pelosi is on there.
This represents a wonderful opportunity for certain politicians to derail the careers of other politicians. If you assume that all politicians are tax cheats, then the list of "outed" politicians tells you immediately who's in charge, and who isn't in charge.
He would be dead by now if so.
And oh, by the way...
Didn't I tell you guys that JPM would be "unfazed" from all the accusations about cornering various commodity markets?
That stock has rallied nicely, while other "Enemies of the Fed" like Newmont Mining, Goldcorp, etc. have virtually crashed.
Never fight City Hall.
Never.
Of course not. But don't join them, fucko.
Quit trying to set people up you data mining POS.
Give me a brazilian ho -
http://en.wikipedia.org/wiki/Guido_Mantega
You know. If tyler doesn't ban you and spalding smailes before the weekend is over. I can safely say that this is just a fuck with people worthless blog.
just use an RSS reader if you hate the comments
Na. I'll just get nastier.
Never fight city hall: by that logic you'd be talking with a British accent
My view is that it's pretty easy to fight city hall when it is out of ammo and these sons of bitches look like they are close to being spent on the ammo. The tumors within the welfare state have metastasized. This is late stage. Contrary to Robo's cynicism, we are witnessing and will continue to witness things we thought unimaginable only a decade ago.
Simon Johnson says another three to seven years, until the current credit cycle reaches its end. That seems plausible to me, though I also feel that something dramatic - quite possibly in East Asia or the EU periphery - could end the cycle "early". When the next crisis arises, there will be a lot of people waiting in the long grass for the banks, people who weren't there in 2007-8. In places like the EU periphery, it's very likely that there will be no significant recovery and the current crisis will still be festering by the time the next round hits. That's not to promise that the Good Guys will win next time, or that there will be anything like a happy ending, but it should get interesting.
I'll end with a cynical prediction of my own, though. If and when the torch-and-pitchfork moment arrives (however literal or metaphorical the torches and pitchforks turn out to be) don't be surprised to see some ex-bubbleocrats, including maybe some very recent converts, among those at the head of the angry mob, shouting orders.
or less then 3 months, depends on the hood you live in. Think the unemployed and small businesses can wait that long while being robbed, starved and lied to?
NO WAY.
It's all cycled out. The structural reality is taking hold:)
With all of the extraordinary actions taken (and ongoing) by the Fed, Treasury and .gov to keep the debt ponzi from imploding, the question I have is what ammunition do they have in reserve for the second go-round? Does anyone seriously think that QE, TARP, TALF, MTM suspension or socializing the losses of the GSE's, AIG's or pensions would even be an option considering the $9T in additional debt/"liquidity" created this go round? Say 2008-style liquidity event happens again. Think the three amigos will have the same carte blanche the shell shocked electorate unwittingly abdicated before? Chambers are or nearing empty folks...then it'll be time to bring out the sick isht.
Gotta think that future measures will be geared to salvaging the political system.
"Never fight City Hall.
Never."
Isn't that what Albert Speer and all the other good nazi's said?
http://en.wikipedia.org/wiki/Albert_Speer
RobotTrader
I guess your memory doesn't go back to the abandonment of Saigon and the chaos of American-friendly Vietnamese being abandoned by the U.S. as helicopters lifted off from the Embassy rooftop.
And as helicopters were being dumped off the decks of aircraft carriers, I kinda thought City Hall was defeated.
I guess it was a "City Hall" triumph in your eyes.
You are participating in the "Last Hurrah" in America. Enjoy it while it lasts.
Every piece of paper, a currency, a bill-of-exchange, a contract is nothing more than a promise to pay or deliver.
In our New World a promise to deliver only means you are entitled to another promise.
Well done. Any my silver Eagle only promises to look good in my hand.
Meh. Who's side is Assange on, exactly? It's beginning to look more and more like Assange is either a disinformation plant, or is the "controlled opposition".
After all, who benefits from this particular leak? Looks to me like the taxing authorities benefit.
Basically 100% of the rich are national socialists when it's convenient and behave like insane globe-trotting libertarians who violate laws with great pleasure in their personal financial lives.
I had the thought too. Who knows what Assange is and where he really comes from. We can only judge what he does and what the effects are.
"Basically 100% of the rich are national socialists when it's convenient and behave like insane globe-trotting libertarians who violate laws with great pleasure in their personal financial lives."
Hyperbole is the use of exaggeration as a rhetorical device or figure of speech. It may be used to evoke strong feelings or to create a strong impression, but is not meant to be taken literally.
Didn't we all just agree with Obama and decide not to use hyperbole?
Had dyslexia long? We all recognize hyperbole and agree it's obama.
Both Big Bubble expansions and command capitalism (e.g., the nearly $1-trillion annually to arms-and-intel businesses in the U.S.) are great for the wealthy.
The former Big Bubbles offload money to insiders at ZIRP giveaways; the latter engorges investment entities such as the Carlyle Group and the equipment suppliers.
Big Bubble ZIRP policies are the most of what moved near 30% of U.S. wealth to the top 2%.
BTW: deficit financing was exactly how the NSDAP government financed ending unemployment in Germany 1934-1938. Building the Autobahn and other Keynesian works projects made all of it work, short term.
Why have a major war ??? Because otherwise the debt situation would have been untenable. War was the only practical means to extend their system of command capitalism. Similarly, paying off their followers around Europe from 1943 on was carried out by stealing the property of the 12 million victims of the Holocaust and another 30 million individuals who went through labor camps or administrative prosecution.
Whose side is he on? He is on the side of a million dollar book contract and a 600 acre country estate, that's whose side he is on.
Obama has distanced himself from the WikiLeaks scandal but he is the President. He is responsible. Obama had Hillary handle the fall-out, but it was Hillary who was targeted. How convenient for Obama. His only competition in 2012 is Hillary. There is no way Assange got thousands of documents from the State Department, etc., from an army private fallguy; someone at the senior level of the White House and the Justice Department had to have helped.
Or a "friendly" foreign government with spies and agents dominating the Washington scene and desiring to move public opinion and the political process further toward its private aims.
One not far from the eastern Mediterranean? ;)
Not LEBANON!? Please don't let it be Lebanon!
No, Lebanon is on the other side these days
http://www.youtube.com/watch?v=7Gzyeo1Z1I4&feature=related
Oh, you must mean the country that, for children who never eventually learned the boogie man was not real, serves as the adult substitute later in life?