Cameron, Confiscation, And "What's Yours Ain't Yours!"

Tyler Durden's picture


Submitted by Martin Armstrong via Armstrong Economics,

David Cameron has come out and argued that taxes will rise unless he can raid bank accounts in the UK. Cameron argues he will “have to put up taxes” unless tax officials are given draconian powers to raid people’s bank accounts if they think they even owe money. Trust me – all politicians share ideas. Obama is already conniving a way to do the same thing – you can bet on that.

There is no elite private conspiracy of some dominating group. That implies some comprehension of what is even possible. I have sat in the room with such people and these conspiracy stories give these people way too much credit for being intelligent. Nobody smart enough to handle the job ever seeks such positions. Governments are run by lawyer-politicians who think they need only decree some law that solves the problem. They understand nothing. Why should people keep money in a bank in the UK after Cameron makes such a statement? He is way too stupid to realize people act in anticipation.

If I said I was going to punch you in the face, would you stand there or act in anticipation like move or fight back? Politicians cannot get this through their head that the economy functions always in anticipation of future events. They are just crazy – although not out of their mind entirely just yet. They can read a script, but they are incapable of understanding the people or math.

These people are simply beyond control. All they can see is the immediate issue to survive day-by-day. They have absolutely zero comprehension of what they are doing and even less understanding of what happens when there is no more money they can raid. Those at the helm of the world need no elite-conspiracy. They are too stupid to have long-term plans beyond 30 days. This is how Empires Collapse – they are following the precise step-by-step guide for total chaos.

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Sun, 05/11/2014 - 18:04 | 4748978 0b1knob
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"draconian powers to raid people’s bank accounts if they think they even owe money"

Hasn't the IRS had that power for decades?

Sun, 05/11/2014 - 18:11 | 4748996 insanelysane
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As long as they are raiding someone not in the power elite's circle.

Sun, 05/11/2014 - 18:39 | 4749060 NoDebt
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The well-connected will NEVER have their accounts raided.  NEVER.

Unfortunately, swiping people's accumulated wealth is something you can only do once.  Then it's gone.  And when the books STILL don't square, what then?

I applaud the author for pointing out that not everything is a conspiracy.  True to a point- zombies don't know they are zombies.  But there are those well aware and knowing well their next actions, moving in advance of them and maintaining their position.

Sun, 05/11/2014 - 19:32 | 4749189 Ignatius
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Like gold knocked down $20 to $1280 at today's open... understandable, given the calm geo-political environment.


Sun, 05/11/2014 - 19:34 | 4749193 Anusocracy
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It wasn't a conspiracy when hunter-gatherers attacked a neighboring tribe for females or resources, nor when a city-state attacked another city-state. It was mainly for survival.

Unfortunately, our insane clown politicians behave the same way because they're only good at stealing wealth, not creating it.

Mon, 05/12/2014 - 02:08 | 4749991 Nehweh Gahnin
Nehweh Gahnin's picture

And this is how we describe ... civilization.

Sun, 05/11/2014 - 21:37 | 4749557 Atoyota
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Just you wait Henry Higgins just you wait

Mon, 05/12/2014 - 04:19 | 4750073 Slarti Bartfast
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And when the books STILL don't square, what then?

Then you raise taxes anyway. Then, presumably you just outright confiscate cash without bothering to lie about how it's owed.

Mon, 05/12/2014 - 13:35 | 4751376 TheReplacement
TheReplacement's picture

Just about everything is a conspiracy really.  You and your wife plan to live a certain way, you are conspiring.  It isn't necessarily bad. 

Things that are not conspiracies - volcano eruptions, earthquakes, tornadoes, flat tires... unless you get something like 12 flat tires in 10 years in your driveway - I'm seriously going to unload on whomever it is IF I can catch them.

Sun, 05/11/2014 - 18:40 | 4749063 spine001
spine001's picture

Problem is that the people that voted for them are even more stupid.

Sun, 05/11/2014 - 22:48 | 4749248 Anusocracy
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Stupid evil voters paired with their doppelgangers, evil stupid politicians.

Farce meets tragedy, compliments of Mother Nature.

Sun, 05/11/2014 - 22:35 | 4749684 durablefaith
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You give the vote tabulators way to much credit. Diebold whistleblower backstory ring any bells?

Mon, 05/12/2014 - 06:22 | 4750145 Flagit
Flagit's picture

The first few minutes of The Lego Movie was a refreshing sign.

Worth the watch.

Sun, 05/11/2014 - 19:42 | 4749208 All Risk No Reward
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>>These people are simply beyond control. All they can see is the immediate issue to survive day-by-day. They have absolutely zero comprehension of what they are doing and even less understanding of what happens when there is no more money they can raid. Those at the helm of the world need no elite-conspiracy. They are too stupid to have long-term plans beyond 30 days. This is how Empires Collapse – they are following the precise step-by-step guide for total chaos.<<

Nice job carrying water for the criminal class.  I hope they give you a pat on the head.

>>As long as they are raiding someone not in the power elite's circle.<<

Which proves the conspiracy some people try so hard to keep under wraps.

BTW, these quotes were written in the 1960s....

"In addition to these pragmatic goals, the powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations."
~Carroll Quigley

“The technotronic era involves the gradual appearance of a more controlled society. Such a society would be dominated by an elite, unrestrained by traditional values. Soon it will be possible to assert almost continuous surveillance over every citizen and maintain up-to-date complete files containing even the most personal information about the citizen. These files will be subject to instantaneous retrieval by the authorities. ”
 ~Zbigniew Brzezinski, Between Two Ages: America's Role in the Technetronic Era

Sun, 05/11/2014 - 20:56 | 4749437 willwork4food
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Which proves without a shadow of a doubt that the "fools" are not necessarily fools, but bought out and controlled whores following orders, although it is possible that the HIGH REALM ELITE are playing them for suckers when they begin to get wacked off in a civil war one-by-one...which they want to happen. Case in point: Hunger Games. Why would they let that script go public?

Sun, 05/11/2014 - 22:33 | 4749677 durablefaith
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Re: Hunger Games

And...Matrix, The Island, Beautiful Mind, Lion King, Avatar, etc..

Or..go back further...Brave New World, 1984, etc..

These are control freaks and they enjoy telling you what they are going to do to you, before they do it to you, thus emphasizing the fact that you are in fact helpless and they have all the power.

But Judgment day cometh...

Mon, 05/12/2014 - 01:28 | 4749935 All Risk No Reward
All Risk No Reward's picture

Add the original Rollerball, They Live, Michael Clayton, The Shooter, Even the Rain (one of the most sophisticated movies I've ever seen and I had to read subtitles!).

Rollerball took place in a society where the nation states went bankrupt to the corporations and the NFL, NBA, etc...  were dismantled and replaces with the scientifically engineered Rollerball...

Watch the movie and find out why Rollerball was scientifically engineered and what message that has for the entertainment class of today.

Also remember that Jonathon's wife was snatch by a corporate executive.  He wanted her so he simply took her.

Mon, 05/12/2014 - 02:43 | 4750021 Oliver Jones
Oliver Jones's picture

It's The China Syndrome that has me worried.

Sun, 05/11/2014 - 20:55 | 4749441 UselessEater
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Global Technocracy needs the BIS and global taxation regimes. OCED is well on track ensuring the systems, tech and ability is in place using the FATCA approach.

The global tax regime is about infrastructure for global governance of ordinary people not tax cheating corporations like Google; digital money allows banks around the world to become office branches of national tax collection department (eg ATO, IRS) it also eases the way for capital controls and arbitrary taxes and wealth levies in the future to reduce "national debts" as the IMF wishes & every insolvent criminal government wishes.

While this may be at present less relevant to people who work and reside in only 1 country - its another preparatory net being put in place for criminalisation and wealth confiscation globally. Its serves for the death of soverignty and national interests.

Sun, 05/11/2014 - 18:43 | 4749080 Amish Hacker
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Or, when you retire, they simply subtract that unpaid student loan from your Social Security checks.

Sun, 05/11/2014 - 19:48 | 4749234 bigkahuna
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lol - they will just follow you around for life garnishing whatever wage they can...unless you want to join that fatherland defense force that is just well equipped and just as powerful as the DoD.......

Sun, 05/11/2014 - 18:45 | 4749084 ZH Snob
ZH Snob's picture

bartering, black markets and off-the-books are looking more attractive every day.

what they don't know won't hurt them, and what they do know will hurt us.

Sun, 05/11/2014 - 19:03 | 4749121 BigJim
BigJim's picture

Yup... and gold/silver, out of the system, natch.

I see our 'friends' at the bullion banks have organised another sale for us! Down $10 on opening! Pile in, lads!

Sun, 05/11/2014 - 19:18 | 4749158 JamesBond
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this was becoming epidemic in Germany while I was working there.  expect tax revenues in Germany to fall this year and in coming years...

Sun, 05/11/2014 - 19:04 | 4749119 PacOps
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Hasn't the IRS had that power for decades?

Along with the CA FTB.

Back in the 80s - cleaned out my accounts - 100%. It took a physical trip to the credit union to find out who, what, etc. Called the FTB local office - had to make an appointment to come in and present a copy of my latest return. Some days later I presented my return to them. They "updated" their data base, said they were sorry for the inconvience they caused and my account was refunded several days later. They shut my life down for about 10 days - 2 weeks. Overdraft fees were on me.

Sun, 05/11/2014 - 21:15 | 4749484 willwork4food
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I had a Scottrade account I was trading sometimes on margin. Relatively small amounts of trades definitely less than 10k at the most..lost money. I was not aware you had to fill out a special IRS margin tax for EVEN if you lose money on your trades, which I did. They hit me up for a $865k-yes you read that right. eight hundred and sixty five THOUSAND $ tax due which is fucking laughable siince the fuckers knew I had never made that much money in my life. Assoles locked my accounts, checks bounced and fucked my life up for a good week until I got a tax attorney to make it go away. They repaid me 1K in back credits which went to the lawyer plus what came out of our pockets....

Sun, 05/11/2014 - 18:05 | 4748979 cossack55
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I think the medical term for crazy as applies to politicians and "leaders" is "psychopath" or perhaps "sociopath" or both.

Sun, 05/11/2014 - 18:07 | 4748985 PHantomofthemarkets
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This is a EU thing. It is already in use in several EU countries and the other ones are implementing it.

To catch the bad guys I assume...

Sun, 05/11/2014 - 18:10 | 4748991 QQQBall
QQQBall's picture

Poductive Citizens = Bad Guys?

Sun, 05/11/2014 - 18:24 | 4749029 Goldilocks
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mark to mark-et

Sun, 05/11/2014 - 18:47 | 4749087 spine001
spine001's picture

Everybody evades in Europe. How do think that in some London addresses you can find several thousand corporations registered.  What do you think the reason you have 72 billionairez loving there versus 42 in Ney York? Also dont forget Luxemburgh, Lichtenstein Monaco,  and the BVI, to just name a few, since there are many more.

Sun, 05/11/2014 - 18:07 | 4748986 Blackfox
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Sun, 05/11/2014 - 18:10 | 4748992 Cognitive Dissonance
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It really ain't different this time. The toys and techniques vary, but the results remain the same.

Eventual Collapse!

Sun, 05/11/2014 - 18:43 | 4749072 NoDebt
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I agree.  They're totally screwed.  Everyone is going to move their money someplace safe in advance of this.  Like maybe Wall St.

What?  Why are you looking at me like that?

Sun, 05/11/2014 - 20:04 | 4749306 optimator
optimator's picture

They absolutly WANT you to move your money to Wall Street.

Mon, 05/12/2014 - 00:15 | 4749843 JLee2027
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I think I understand now. 2014/5/6/7 All electronic money will be basically, seized or effectively destroyed when the banks fail en mass in the final grand collapse. Rioters, led by the EBT crowd, will quickly remove the government and be impossible to control in the short term. There will be people dragged from government buildings and executed on the spot, and the buildings burned down. I had a vison about that once. There may be, heaven forbid, food shortages. In any event, there will be little left standing in terms of money.

Unless you (old mantra but true) have possession of physical gold/silver.


Could happen. But that would be one nasty ass future. 

Sun, 05/11/2014 - 23:40 | 4749797 Bindar Dundat
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Us or them Cog?

Sun, 05/11/2014 - 18:10 | 4748993 DogOfSinope
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And? Why would one hope that people that just last evening voted bearded transvestite a winer of the Eurovision Song Contest would do anything about this?

Sun, 05/11/2014 - 18:11 | 4748994 I am Jobe
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Brits are feeling poor just like the Amerikans except Brits have been humiliated and now it will be Amerikas turn.

Sun, 05/11/2014 - 19:32 | 4749188 Robinhood
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Respectfully Jobe, Bull fucking shit, because many of us have many guns and lots of ammo and I'm sure my fellow patriot bothers are willing to fight for freedom, to protect their families and their hard earned assets. MOLON LABE mother fuckers.

Sun, 05/11/2014 - 21:55 | 4749002 Goldilocks
Goldilocks's picture

Why Can't We Be Friends- War LYRICS (3:49)

Sun, 05/11/2014 - 18:17 | 4749010 goldhedge
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Fuck Cameron and fuck the EU

Sun, 05/11/2014 - 18:18 | 4749012 Winston Churchill
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Just hope anyone dumb enough to still have a 401k is
watching, what desperate Govt.'s do, when its a choice of their survival, or their citizens.The UK already has private pensions locked up ,to be stolen at HMG's leisure.
Dog forbid that Govt. should trim the pork.

Sun, 05/11/2014 - 18:26 | 4749031 Son of Loki
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Congress has been salivating over peeples 401(k)s for along they get moar desperate for your money, peeples need to be alert to a Gubmint MFGlobal move on your doubts there.

Sun, 05/11/2014 - 18:37 | 4749057 Winston Churchill
Winston Churchill's picture

Alert !
You need to be proactive , you will not get enough warning
too cash out.Do it now, take the tax charge.Something is better than nothing.

Sun, 05/11/2014 - 20:55 | 4749440 quasimodo
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Yes, been wanting to do this for a few years now. I made the mistake of telling the Mrs. three years ago this would happen at some point. The other week I brought it up again and she said "you said the same thing three years ago and here we are" top it off she wants me to start putting money into mine again. 

Anyone else find themselves in a similiar spot?



Sun, 05/11/2014 - 21:32 | 4749546 Greater Fool Theory
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I did it.  Pulled every dime out of every IRA, ROTH, 401k we had, paid the taxes and sent what was left overseas.  Churchill is right.  We're not going to get any warning.  

My prediction: the next correction, the gov will make a law to um "protect" our retirement arrangements by mandating a certain portion to be "invested" in secure USTs.  For our own good of course.

If 20% of that $17T is allocated to treasuries, the great government party continues for awhile longer.  Not so hard to imagine that.  It will even be wrapped in some pretty sounding bill name, like the "Protect American's Retirement Savings Bill" or somesuch. 

It will be a smallish number to start.  Kind of like Federal income tax which was never to be more than a few measley percentage points on only those with significant means.  How is that working out?

Mon, 05/12/2014 - 02:50 | 4750027 Oliver Jones
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I take exception to that. (Churchill.)

For those of us who haven't been fast asleep for the last 5 years, the warnings have been coming thick and fast!

Mon, 05/12/2014 - 04:24 | 4750077 Serenity Now
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It's not just about the short term threat of what the government might do.  The whole idea about having these retirement accounts is that you get to save pre-tax money and then pay the tax when you retire and take the money out.  So that's only a good idea if you will be in a lower tax bracket when you retire.  I realized several years ago that my husband and I will most likely be in a much higher tax bracket when we retire.  

You also need to think about which direction the country is headed....more or less taxes on people?  We don't seem (to me) to be headed in the less taxes direction.  So my husband and I closed the IRA, paid the taxes, took the penalty hit, and never looked back.  We decided to pay the taxes now while we are young and face the devil we know rather than wait to dance with the devil we don't know when we are older.  

Anyway, that's just my two cents about what made sense for us.  Good luck.

Sun, 05/11/2014 - 18:20 | 4749015 Money Squid
Money Squid's picture

the world is very simple: if you can take it and keep it, it is yours

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