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The War On Cash: Australia Leads The New Age Of Economic Totalitarianism

Tyler Durden's picture




 

Submitted by Martin Armstrong via Armstrong Economics,

Abbott-Tony

The reason I moved the Solution Conference forward was due to the fact that all my sources behind the curtain were screaming from the four corners of the world that the new age of Economic Totalitarianism is upon us all. Australia will be the first to introduce a compulsory tax on savings. This is the ultimate Marxist state for now anyone with spare cash is the enemy of the Conservative Tony Abbott government. What I laid out at the Solution Conference is the ONLY way out of this nightmare. It is time for people to start spreading the word and get behind changing the game plan while we still have a game in play. We have to stop this confiscation of all wealth and the continual borrowing and taxation. This will lead to the total destruction of Western culture for we are plagued by power hungry insane politicians who cannot see past their nose.

The new compulsory control is already provided for in the 2015 Australian budget. So that everyone who has any savings must pay taxes on on their savings. The measure is expected to serve as a global test balloon for Europe and North America will watch the outcome in Australia. If there will be no massive resistance of Australian savers, the rest of the world should expect this outright confiscation very rapidly.

Tony Abbot has proven to be a real Marxist. He is taking the Australian people into the economic abyss from which only war and bloodshed can emerge. This is really Atlas Shrugged in high gear. The Abbot Government will introduce its draft budget for 2015 tax on savings and it will to announce this measure before the formal decision on the budget.

Prime Minister Tony Abbott said that it was now all about to relieve families and small businesses. For this, the new tax is to be used. The problem is clear. There will be no reduction in taxes for these people, it will only be more money in the pocket of corrupt and seriously deranged politicians who are destroying the western civilization in the blink of an eye.

Abbott also said there would be some hard decisions in the new budget because this was inevitable. For the banks, the government’s plans are anything but good news. Abbott’s anti-capitalism view will put him up there with Lenin no doubt when history is allowed to be written honestly perhaps in a hundred years or some. This decision of a tax on savings would seriously harm the government and if there are any smart Australians, it should now be a race to get the hell out of the banks. The banks should see a massive withdraw. Take your money and buy tangible assets even gold, but you just cannot store it in a bank. Movable assets will be the key and buying equities in the USA may be the only real game in town to protect money.

It is hard to fathom how Australian banks will attract or hold on to deposits in this new Abbott-style of Economic Totalitarianism. The opposition is of course outraged by the decision of the Abbott Conservative government. This is not a labour government demonstrating what I have said – economically there is no difference between left and right – just hand them the money.

IMF Debt

The introduction of this tax on money in Australia led by Tony Abbott is the trial balloon for the global economy. The IMF’s Christine Lagarde has led the battle to impose French socialism/communism upon the entire world. I have warned that she is the most dangerous woman on the planet. Do not forget that it was the French elite who sold the idea of communism to Marx – not the other way around. Now the French elite have control of the IMF and they have persuaded all other global financial institutions to also require such a compulsory levy for several years because they see it as the only way to resolve the debt crisis – just confiscate the people’s money. In the wake of the G20 discussions such measures are usually prepared and coordinated. The public knows about it only when there are hardly any ways to prevent the action and mainstream press sell the people down the river cheering it all the way.

You better wake up before the coffin is nailed shut.

 

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Mon, 05/04/2015 - 12:19 | 6058693 JoeTurner
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So in the near future, are poor people supposed to use their Obamaphones to pay for toilet paper or loose ciggies ?

Mon, 05/04/2015 - 12:22 | 6058710 keremetski
keremetski's picture

bank bastards long forgotten the fate of one "LET'EM EAT CAKE" bitch.
they will be reminded soon.

Mon, 05/04/2015 - 12:35 | 6058767 Arius.
Arius.'s picture

marxism, communism ... armstrong is stuck in the 80s.

 

he reminds me of Dr. Evil after he came out of the freeze and trying to catch up with the World...

Mon, 05/04/2015 - 12:50 | 6058820 Harnar
Harnar's picture

No debate on the merits of the writing? From your comment are we to believe you feel taxes on savings are acceptable?

Mon, 05/04/2015 - 13:00 | 6058854 Arius.
Arius.'s picture

quo debate? armstrong ask questions to himself which he answers as he likes ...

 

His merits? he has developed a computer model that talks and answers everyting from the day of crisis in Ukraine to the third party in the US, to everything else .... that was a good pitch when no one in Wall Streets knew about computers back in the 80s but to claim that today?  a bit of a stretch ... hence the allegory to Dr. Evil asking for 1 million dollar randsom ... you dig?

 

as far as his predictions ... i would broadly guess but this is formula: wait until is too late ...

the coverage he has been getting is not by chance ... just a guess

Mon, 05/04/2015 - 13:04 | 6058872 Harnar
Harnar's picture

So you feel taxes on savings are acceptable?

Mon, 05/04/2015 - 13:12 | 6058904 Arius.
Arius.'s picture

i think we are up for a big change, this issue is not even a footnote to the upcoming change ... armstrong writes his version of history.

and NO I do not hear the false profets.  the reason, because they try to mix truths and wrongs .... at the end you will be sorry for listening.

Mon, 05/04/2015 - 13:24 | 6058941 Anglo Hondo
Anglo Hondo's picture

Do you understant the English language?  It seems that this may not be your first tongue.

Mon, 05/04/2015 - 13:29 | 6058959 clooney_art
clooney_art's picture

If you don't vote, you will be fined or imprisoned in Australia.  Just sayin.

Mon, 05/04/2015 - 13:31 | 6058973 Killer the Buzzard
Killer the Buzzard's picture

How the hell is gold not spiking on this news?

Mon, 05/04/2015 - 13:33 | 6058984 CH1
CH1's picture

Channeling the absent Fonestar:

Bitcoin, Bitchez!

Tue, 05/05/2015 - 02:38 | 6060998 Promethean
Promethean's picture

Or Socialism for the Banks and Corporates and Capitalism for the general, tax paying population.

Mon, 05/04/2015 - 15:29 | 6059428 commander gruze?
commander gruze?'s picture

I wish someone explained how bitcoin is NOT a solution. Shhhh, humiliation by glaring display of ignorance coming in 3... 2...

Mon, 05/04/2015 - 13:35 | 6058988 CH1
CH1's picture

How the hell is gold not spiking on this news?

Yeah, you'd think that in a free market.... Oh, wait...

Mon, 05/04/2015 - 14:10 | 6059128 PTR
PTR's picture

COUGHpaperpricemanipulationCOUGH

Tue, 05/05/2015 - 01:54 | 6060980 lost money
lost money's picture

How the hell is gold not spiking on this news?

because when you buy gold there is a record, gold is a store of wealth i.e SAVINGS. so you will be taxed on your gold holdings.

 

all you ZHers in OZ with pm buried in the back yard will have to start digging some of it up to pay taxes on the rest that is still buried.

Mon, 05/04/2015 - 13:40 | 6059011 TaxMeIAmCanadian
TaxMeIAmCanadian's picture

Fucking great! Forcing stupid people to elect stupid people. What could possibly go wrong?

Oh wait, this has been going on for quite some time and just look at how fucked up this planet is. Everybody's in debt up to their eyeballs and the great financial collapse is well underway!

Good times ahead for sure! NOT!

Mon, 05/04/2015 - 17:26 | 6059888 RichardParker
RichardParker's picture

clooney:

Fines for not voting is old news in Australia.  They've been doing that for years. 

Chumbawamba best explained it.

"When you are registered to vote, you are expressing your consent to be a member of the body politic, and you accept the legislative decision making that results in the statutes that you agree to obey.  You accept the elect as your new leader and you pledge your loyalty and obeisance to the body politic.  It's all contract law."

 

 

Mon, 05/04/2015 - 18:28 | 6060073 Milestones
Milestones's picture

I would love to see and read that "contract". Sound to me like what comes out of the north end of a south bound bull.        Milestones

Mon, 05/04/2015 - 13:25 | 6058945 gdiamond22
gdiamond22's picture

Hey needle dick - communism and Marxism have its roots well before the 1980s.

Mon, 05/04/2015 - 13:37 | 6058994 jdtexas
jdtexas's picture

Not so sure Australia leads the Communist march to cashless society......many others working hard

 

An ABBA Star’s Campaign for a 100% Cash-Free Sweden

Russia’s Cashless System (NPCS) Based on Belgium’s Openway Technology

Mon, 05/04/2015 - 13:25 | 6058948 Overfed
Overfed's picture

Are you gonna answer the fuckin' question or not? Simple fuckin' question. Is a tax on savings acceptable to you or not? Yes or no.

Mon, 05/04/2015 - 13:31 | 6058961 SumTing Wong
SumTing Wong's picture

Can I answer for the guy who keeps avoiding?

No, tax on savings is not okay. It is a desperate attempt to get people to spend everything they have and not think about the future. It is a try to get people to overconsume. 

BUT, what will happen is that people will invest in those things that are easily barterable. Think alcohol, gold, ammunition (maybe even 22LR, if you follow me), silver, older automobiles that run well, farm equipment, $100 million houses apparently.

Hell, I think we already have a tax on savings, called inflation. We've locked in prices on a side of beef and a pig for this summer, and we are already getting areas ready to raise them ourselves next year. We've only been here two years, so we only have the garden, a coop of layers, meat chickens, and meat rabbits thus far. I'm working my ass off nights and weekends to get prepped up, but it isn't fast enough. I may start spending more silver and gold to have local college kids help me dig fence posts and the like.

So to Arius, join us in saying how morally reprehensible this is. 

Mon, 05/04/2015 - 13:40 | 6059010 Arius.
Arius.'s picture

these guys are funny ... here everything is going up in flames and they are worried about tax on savings ... they got to worry about HAVING savings ...

money is a funny thing it appears and disappears by magic ... thats Armstrong specialty (thats why he has been advising government all over the world) ... then they can worry on taxes on smt they dont even have

Mon, 05/04/2015 - 14:38 | 6059224 Thisson
Thisson's picture

Arius - 2 weeks & 5 days.  Enough said.  More listening and less talking from you, perhaps?

Mon, 05/04/2015 - 14:42 | 6059239 Arius.
Arius.'s picture

perhaps :)

Mon, 05/04/2015 - 16:12 | 6059619 angel_of_joy
angel_of_joy's picture

Perhaps you're just the same old moronic troll, with a dot added to his name ! On a second thought, I'm pretty sure of it. The "quality" of your posts is a giveaway... 

Mon, 05/04/2015 - 17:51 | 6059970 RichardParker
RichardParker's picture

Sumting Wong:

+1, However, I wouldn't be in a hurry to barter with with something (ammunition) that could be used to kill me.

Mon, 05/04/2015 - 14:16 | 6059151 RafterManFMJ
RafterManFMJ's picture

Ah, Overfed, only an inflation tax on savings is ok - the one that not 1 man in a million realizes.

A direct tax ... Shit must be gettin' real!!

Now, maybe one man in 100,000 will realize what's going on.

Tue, 05/05/2015 - 00:58 | 6060950 Overfed
Overfed's picture

I finally got it through my head a few years ago that inflation was just another tax. A subtle and sneaky one at that.

Mon, 05/04/2015 - 14:02 | 6058911 macholatte
macholatte's picture

 

OZ is in trouble. China not buying resources like it used to, iron ore, copper, etc. Oz housing is their big bubble and has been for many years fueled by "sub-prime" lending. If the air comes out of the Oz real estate market, the Oz banks will be in real trouble.  This proposed tax might be the key to causing them to collapse altogether.  Let us pray it does not pass.

 

 

Mon, 05/04/2015 - 14:44 | 6059245 DanDaley
DanDaley's picture

OZ has been disarmed so now the government (bankers, socialists, oligarchs -take your pick) can work their will with them. 

Mon, 05/04/2015 - 19:29 | 6060287 Bendromeda Strain
Bendromeda Strain's picture

They may have been disarmed, but they will create weapons with which to terrorize the countryside in muscle cars wearing only masks and chaps.

Tue, 05/05/2015 - 02:35 | 6060997 Promethean
Promethean's picture

Yes, the Australian Bogan Empire is starting to wane.

Built on the mining industry and on housing.

http://www.macrobusiness.com.au/2011/04/boganomics-negative-hearing-2/

Mon, 05/04/2015 - 13:00 | 6058852 JR
JR's picture

There are Dr. Evils and they are not stuck back in the 80s or even Marx’s day at the turn of the century. They are stuck squarely in the operation of the American Empire, for the ruling elites are as close to Bolsheviks as Mao. If you think communism is funny or that communism is dead then perhaps you can also laugh at the transfer of America’s rights, culture and property into the hands of the state which is controlled by these Bolsheviks.

Something sinister and dangerous is happening to America and Armstrong has it right. It’s that century old phenomenon called Communism in the guise of Fabian Socialism, i.e., communism by gradualism instead of communism by violent revolution.

Socialism is Marxism. It has never worked. It was capitalism that bailed out Lenin, Stalin, Mao and what’s left of it is now bailing out the Fed's socialist TBTFs.

Stealing the property of savers goes hand in hand with Australia’s program for its people to hand in their guns. To follow Australia is to lose your freedom - on the road to communism - by way of taking the means of production that describes a banker-controlled economy.

Mon, 05/04/2015 - 13:03 | 6058866 Arius.
Arius.'s picture

too much public school history ... sorry, but you can still educate yourself .... just try, instead of sticking to what you think you know...

Mon, 05/04/2015 - 13:21 | 6058934 macholatte
macholatte's picture

 

 

Marxism is an economic theory, a worldview and a method of societal analysis that focuses on class relations and societal conflict.

Communism is the political application of Marxism.

 

The College Professor was a Marxist.

The President is a Communist.

Mon, 05/04/2015 - 14:27 | 6059185 InjuredThales
InjuredThales's picture

Where did you go to school fucktard? Where I went to school, capitalism was the black dog.

You have nothing to say. Commentary that is vague and enigmatic, couched only in negative propositions, or simply comprised of ad hominems may not be refuted, I grant you that; but any reasonable and intelligent person will identify your "musings" for what they are: worthless blather.

So, put up or shut up.  Advance an actual proposition, and we will see if there's anything behind your vacuous ramblings.

Tue, 05/05/2015 - 06:22 | 6061088 BruntFCA
BruntFCA's picture

As a sock puppet you're doing an incredibly bad job. Everyone just skips reading your inane pablum and reads the comments...

Mon, 05/04/2015 - 17:33 | 6059914 Chandos
Chandos's picture

The gradual approach of Fabian Socialism is at the heart of Cultural Marxism - what the National Socialists  coined as Kulturalbolschevismus - ...They share the same goal but have different means....In the case of Cultural Marxism, what we have is the Zionist's long game approach to the complete domination of Western culture.

Sorry to be the one to bring the tribe in this thread

Mon, 05/04/2015 - 16:17 | 6059640 JRev
JRev's picture

"There does exist and has existed for a generation, an international Anglophile network which operates to some extent in the way the Radical Right believes the Communists act. In fact, this network, which we may identify as the Round Table Groups, has no aversion to cooperating with the Communists, or any other groups, and frequently does so. I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960s, to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments. I have objected, both in the past and recently, to a few of its policies but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known."
-Carroll Quigley,
Tragedy and Hope

 "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 meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
-Carroll Quigley,
Tragedy and Hope 

Mon, 05/04/2015 - 12:38 | 6058777 Bastiat
Bastiat's picture

That is very unfair to Marie Antoinette - an innocent compared to this magnitude 10 witch.

Mon, 05/04/2015 - 12:26 | 6058726 Oh regional Indian
Oh regional Indian's picture

Speaking from long and personal experience, Oz is the most "bread and circused" society in the world.

It's all about sports or alcohol or watching sports.

Terribly mysoginistic society, shockingly so.

I felt it was a de-natured society, so comfortably co-existant with their grinding into the dust of the ab-original people.

In fact, with all the masonic symbolism, I'd say Oz is at par with Denmrk in terms of being a totally mind controlled society.

Think about it, what an experiment.

Plus, their language is fallen. Lot's of made us words, slang. Slang is hollow, words have a mean, a meaning.

It sounded great on crocadile Dundee, but...

Great people, perhaps victims to a greater experiment.

A PEtri-dish, Oz.

Language, words...

People lost their tongues for them...

https://www.youtube.com/watch?v=c_yoSBep5Io

 

Mon, 05/04/2015 - 12:40 | 6058786 Herd Redirectio...
Herd Redirection Committee's picture

God help us all...   The problem with sport is not the sport itself.  Its that we create these idols, superstars, who are NOT WELL-ROUNDED at all.  They are like caricatures.  They have  a fan base, a following, but nothing to do with it.  They are not even allowed political opinions (remember the Boston Bruins goalie who refused to visit the White House).

So we look up to these... People.  And rally around them.  But do they have any political ability?  To identify issues, and what can be done?  No.  In fact, their publicist/PR spokesman will ensure they do not even for a second THINK about using their fame for political purposes.

Mon, 05/04/2015 - 13:35 | 6058983 oudinot
oudinot's picture

In the Roman Empire the Gladiators,Charioteers were the celebrities.  People adored these brutes, and these  'sportsmen' became famous, rich while  providing the  sheeple  a distraction  from the political tyranny of The Roman Empire.

Not any different today.

Mon, 05/04/2015 - 15:24 | 6059397 NoTTD
Mon, 05/04/2015 - 22:39 | 6060730 RichardParker
RichardParker's picture

That would be Hollywood's job.  Fame is used (more aptly abused) for political purposes on a regular basis.

Mon, 05/04/2015 - 12:42 | 6058796 Salah
Salah's picture

You sound like a dot-head who's had his ass whupped by some diggers, or [rightly] thrown out of their country.  Don't go to WA; lots of white refugees there from Zimbabwe's & SA's new multi-racial [sure it is] socialist, workers' paradise.

Mon, 05/04/2015 - 13:05 | 6058875 Oh regional Indian
Oh regional Indian's picture

Sorry Salah, wrong on both counts.

Perhaps you are a butthurt Aussie, but an outsider's perspective never hurts.

It's perfectly okay to satisfied with your lot in your petri-dish and even totally happy blissed out in your huxelian stupor.

 

Tue, 05/05/2015 - 03:49 | 6061032 AmarUtu
AmarUtu's picture

Australians are not happy, they have been over run by multiculturalism, US politics and Corporations and have lost what was once the most open free non violent society in the existence of civilization fact.

They are now at the mercy of ego driven power hungry Multinationals and Politicians.

Aussies have lost and sold their children's futures of home ownership and stable employment to greedy central banks, property/overseas investment and the ruling elites.

The current Governments policy is assuring a non violent revolution is starting to become impossible.

The farmers and their small community's are being sold by state government to US (Haliburton ect) CSG corps threatening the water table and destroying small towns, the mining boom has ended and the corrupt politicians in government have allowed the loss of tax revenue by the big miners only allowing the rich to profit through the mining boom leaving entire ghost towns and thousands of unemployed.

The current Tony Abbot Government was elected on the back of Murdocks media monopoly and as a pay back allowed Murdock to transfer 4.5 billion from his AU media empire to the US tax FREE, so the corruption Australians are facing comes right from the top.

So before you run your mouth on one of the most beautiful counties on earth, go live there for a year or 2, because at the moment you are just a text book expert. 

 

Mon, 05/04/2015 - 12:57 | 6058843 Socratic Dog
Socratic Dog's picture

Shockingly misogynistic?  What the fuck does that mean?  Easy insult, means nothing, no defence against it.

Australians have been called the most law-abiding people on earth.  With some justification, I'd suggest.  They are horribly conventional and easily manipulated.  Look at the way they rush off dutifully to any war the bankers and zio's decide to get going.  They're up there with Britain in their enthusiasm for the "war on terror".  And with the Sheeple themselves for their inability to see past the official 9/11 narrative.

But you think their "shocking misogynism" is what really counts?  Jesus.

Mon, 05/04/2015 - 13:07 | 6058883 Oh regional Indian
Oh regional Indian's picture

How a society treats it's women is usually a very good tell on said society...

 

Mon, 05/04/2015 - 13:30 | 6058970 Pool Shark
Pool Shark's picture

 

 

And we all know how well India has done in that regard...

 

Mon, 05/04/2015 - 13:38 | 6059004 Oh regional Indian
Oh regional Indian's picture

Don't believe the PR and MSM PoolS. Not that it is a paragon of too much social virtue, but a lot of what you hear/read is typical blubbering propaganda.

Plus, our own bollywood hoos are doing their bit to drive the herd over le cliff.

Mon, 05/04/2015 - 14:41 | 6059235 shovelhead
shovelhead's picture

You come up with some really off the wall stuff Ori, but that takes the cake.

The only Indians that treat women worse than Muslims are Hindus.

What? Are you feeling cocky because they finally outlawed suttee last year?

It's the only place on the planet where a father gives away the bride with a bucket of battery acid in case the grooms new wife should get out of line.

To be fair, if you killed your wife they made you give the dowry back so there's always that.

Ok, a slight exaggeration, so you won't miss the point.

An Indian pointing the finger at another country's misogyny. What a laugh.

Mon, 05/04/2015 - 15:27 | 6059417 Miles Ahead
Miles Ahead's picture

By any true meaningful impartial measure by educated lot Muslims would come far out on top on treatment of women as compared to the US, AUS, and UK at minimum.  Of course such an objective comparison would be beyond the scope of anyone from the west.  There are over 60 Muslim countries so all would have to be taken into account.  But regarding India and Pakistan, I do believe both have had Women Heads Of State while perhaps the US may finally have one in 2018...

But regarding treatment of women it's easy to see that Muslim women are OVERLY protected if there is any easy criticism that will stand up to cursory scrutiny.  That's not "treating women worse"; it's quite the opposite.

In the US a women is sexually assaulted ever minute and 35 seconds.  That's right, 00:01:35.  In the military some women is raped every 30 seconds according to one report, and it's generally agreed that 1/3 of women have been sexually assaulted by the fellow soldiers.  Then when they report it the nightmare gets worse by orders of magnitude.  How can you treat women worse than that... rape 2/3rds? 7/8th?

The treatment of Miley Cyrus, Kim K, Brittney, etc, all co-eds in Uni, all the bitches and hoez in the hood, all the trailer trash with ass cleavage hanging out the jean shorts (oh wait... that's not just trailer trash)... this treatment of women and allowing them to be garbage... well that's true misogyny to the point where it's no longer recognized. 

Honestly, letting your women parade around with tits hanging out under all circumstances is bad treatment of women.  Can't say I'm complaining... just keeping it real.

The west treats it's women like pieces of meat.  Pork at that.  How do you descend below this?  Just asking...

Mon, 05/04/2015 - 21:39 | 6060608 Socratic Dog
Socratic Dog's picture

Astute comment. 

I read somewhere that arranged marriages are far more successful (lower divorce rate) than our version.  Always thought that was interesting.

They hate us for our freedoms.

Tue, 05/05/2015 - 06:30 | 6061099 BruntFCA
BruntFCA's picture

Thats a good post. But take a look at whose funding feminism - women can sometimes be their own worst enemy. In the West women do not need a plan in life or even an income or husband, they can start a family of ten with no other plan than for the state to give them money. It's insane and can't continue, but try telling that to a Western female and see what reaction you get.

Mon, 05/04/2015 - 13:32 | 6058975 CH1
CH1's picture

How a society treats it's women is usually a very good tell on said society...

How they treat immigrants, too.

Mon, 05/04/2015 - 13:49 | 6059052 Oh regional Indian
Oh regional Indian's picture

As well as their animals too...

Mon, 05/04/2015 - 14:21 | 6059162 HowdyDoody
HowdyDoody's picture

The best is tell is how they treat criminal oligarchs.

Mon, 05/04/2015 - 15:07 | 6059316 ebear
ebear's picture

Starving cattle roam the streets, unable to digest, their stomachs full of plastic bags.  

Oh well, at least the bears caught a break.

http://www.internationalanimalrescue.org/dancing-bear-rescue

Mon, 05/04/2015 - 14:28 | 6059193 InjuredThales
InjuredThales's picture

Coming from the culture notorious for femme brulee...

Mon, 05/04/2015 - 15:01 | 6059301 ebear
ebear's picture

The status and of women in India is deplorable.  To even attempt a comparison to western society is absurd.

Tue, 05/05/2015 - 02:29 | 6060993 Promethean
Promethean's picture

I find Indians complaining about racism etc rather amusing as India still has a (unofficial) Caste stystem.

http://en.wikipedia.org/wiki/Caste_system_in_India

Mon, 05/04/2015 - 15:13 | 6059342 Lea
Lea's picture

"How a society treats it's women is usually a very good tell on said society..."

How a society treats its children is the only real tell. The buying and selling children of children like mere commodities via surrogacy, abandoning them in sordid foster homes, having millions of them going hungry (one in three kids), promoting sex education for pre-pubescent kids (that's hugely traumatic for them) speak volumes about the USA's state of degeneracy.

Tue, 05/05/2015 - 02:32 | 6060994 Promethean
Promethean's picture

As far as mysogyny goes; Australia has among the most overly entitled; materialistic, "empowered", "yay girl-power feminists" in the WORLD.

Mon, 05/04/2015 - 12:36 | 6058770 HonkyShogun
HonkyShogun's picture

I believe you are supposed to procure toilet paper while looting in protest of the latest Dindu Nuffin's violation.

Mon, 05/04/2015 - 12:49 | 6058814 McMolotov
McMolotov's picture

The short-sightedness of these people is pretty hilarious. For all our talk about how in control they are and how they have everything "planned out," they seemingly fail to understand just how black markets are created. We already have a massive underground economy, and stuff like this can only make it stronger.

A war on cash is a bridge too far. It's a last-ditch effort by the powers that be to maintain some small bit of authority and power. This may be a coordinated effort by globalist assholes, but it's a shockingly desperate coordinated effort by globalist assholes. Things have obviously begun to spiral out of their control, and they're starting to flail about like crazy people. To me, this war on cash is the number one sign that the end is pretty fucking nigh.

Mon, 05/04/2015 - 13:06 | 6058878 Ignatius
Ignatius's picture

Fools and criminals.

The fools think they can control everything while the criminals shoot the gaps.

"Pop-corn. Get your pop-corn.  Popcorn here."

Mon, 05/04/2015 - 13:14 | 6058908 agent default
agent default's picture

"The (short-sightedness )  desperation of these people is pretty hilarious and transparent."

Fixed it for ya.

Mon, 05/04/2015 - 13:23 | 6058940 indigoboy
indigoboy's picture

Is there a link to this actual policy?

Is it a tax on savings   or a tax on *interest* on savings?

 

 

Mon, 05/04/2015 - 14:05 | 6059111 stewie
stewie's picture

Did a quick search but couldn't find any details.  Weird...

Mon, 05/04/2015 - 16:01 | 6059578 Frank N. Beans
Frank N. Beans's picture

if it's a tax on interest, there won't be anything to collect.  

Mon, 05/04/2015 - 22:50 | 6060758 RichardParker
RichardParker's picture

A tax on interest, for now.  Give them some time to condition the people.

Mon, 05/04/2015 - 12:19 | 6058698 jaxville
jaxville's picture

  Take your cash and turn it into specie (gold and silver coins) and hide it in your bnackyard. No wealth tax on savings they can't find.

  How hard is that?

Mon, 05/04/2015 - 12:23 | 6058712 LawsofPhysics
LawsofPhysics's picture

Applies to any physical asset, including those "hiding in plain sight"...

By the way, this is about power and control, period.  The problem is that should what these asshats actually fear come to pass, "money/cash" will have a very different meaning.  Everyone remembers Bartertown right?  There you go.

Mon, 05/04/2015 - 12:35 | 6058766 Monetas
Monetas's picture

Start a small .... Mom and Pops ...(well, that's redundant) .... canned goods store .... durable canned goods .... and other food that last .... wealth, stash, plain sight .... and get creative with the expenses ? 

Mon, 05/04/2015 - 12:40 | 6058784 Never One Roach
Never One Roach's picture

"...tax on savings...."

 

There's a reason every Paki and Indian keeps 95% of their cash and gold hidden in safe deposit boxes, under floor boards, and in the freezer. Oriental civilaztions hav ebeen around for thousands of years and understand what the politicans and bankers can do, without limits.

 

If I had it, I'd hide it also ... or encounter some seriously rough weather on the high seas and sadly see it lost.

Mon, 05/04/2015 - 12:52 | 6058823 Monetas
Monetas's picture

Bury your gold .... in your socialist kiss ass neighbors back yard !

Mon, 05/04/2015 - 13:09 | 6058891 Anusocracy
Anusocracy's picture

Better to bury your kiss ass neighbor in his back yard.

Mon, 05/04/2015 - 12:50 | 6058821 Sudden Debt
Sudden Debt's picture

Well, most people are just plain stupid.

And if the government says it’s okay, they’ll do whatever they have to do.

"What can we do? Nothing!" that’s their common answer.

So it will start with, not a tax in europe, but a TRANSACTION TAX.

So the rich can keep their money on their savi gs and everybody pays extra on what they buy.

That’s why everybody needs to pay electronicly.

The rich get to keep their money and only pay taxes on their expenses (which they’ll be able to deduct)and that’s fair enough.

And nobody will do shit about it.

 

And a second thing Europe will do is lower unemployment payouts down to minimum wage which is 1/3 lower.

EVERYBODY LOSES BUT IT’S FAIR!

....

COMMUNISME... who would have tought they would eventually win...

Mon, 05/04/2015 - 13:12 | 6058903 Anusocracy
Anusocracy's picture

Governmentalism has won.

Mon, 05/04/2015 - 15:20 | 6059370 ebear
ebear's picture

"Governmentalism has won."

Nailed it.  


Mon, 05/04/2015 - 14:14 | 6059145 stewie
stewie's picture

Transaction Tax?  You mean a sales tax?  Sorry to be the one who breaks the bad news dude but ... we're kinda there already.  In Canada, we even pay sales taxes on used cars sold privately! Once is not enough apparently. 

Mon, 05/04/2015 - 15:27 | 6059418 NoTTD
NoTTD's picture

That's not just Canada.  Same here in IL.  We have to pay the tax to get the vehicle registered.

Mon, 05/04/2015 - 13:03 | 6058867 JoeTurner
JoeTurner's picture

The trick is buying specie without leaving an electronic record. I like APMEX but they store all you holdings in their database and will not delete the data even upon request...

Tue, 05/05/2015 - 02:09 | 6060989 lost money
lost money's picture

there's a record when you buy the gold, so they know you have it

Mon, 05/04/2015 - 12:21 | 6058701 KnuckleDragger-X
KnuckleDragger-X's picture

I want to see them try this in America. If you want to see REAL riots just tell the special snowflakes they can't get cash off of their EBT cards for gambling, drugs and prostitutes......

Mon, 05/04/2015 - 12:24 | 6058718 oddjob
oddjob's picture

gambling, drugs and prostitutes....

Why is it always about Wall Street?

Mon, 05/04/2015 - 13:36 | 6058722 LawsofPhysics
LawsofPhysics's picture

They will be able to buy direct with a very high "tax" added.  that way when their kids are starving the .gov can say, well, look where you spent you allotment of freebies moron.  As the .gov gets more and more desparate I imagine their attitude towards dumbasses will change as that which cannot be sustained, won't be.

Mon, 05/04/2015 - 13:06 | 6058876 g'kar
g'kar's picture

The useful idiots will be dealt with by those they worship when they are no longer needed.

Mon, 05/04/2015 - 12:21 | 6058702 NO SOLICITING
NO SOLICITING's picture

And so it Begins?

 

Mon, 05/04/2015 - 12:39 | 6058782 Bastiat
Bastiat's picture

Begins?

Mon, 05/04/2015 - 13:01 | 6058855 NO SOLICITING
NO SOLICITING's picture

Something "official".  Already happeining with negative interest on bund.

Mon, 05/04/2015 - 12:22 | 6058707 Drummond
Drummond's picture

Bitcoin would be an excellent alternative in these circumstances if only it was backed by gold.

Mon, 05/04/2015 - 12:29 | 6058739 oddjob
oddjob's picture

If that happens, I'll dump my Gold at market, shitcoin and every other digital currency can fuck off and die.

Mon, 05/04/2015 - 12:38 | 6058772 Bunga Bunga
Bunga Bunga's picture

So you trust a power, who will say it is backed it by gold? Gold is backed by nothing too, because it's consensus like bitcoin.

Mon, 05/04/2015 - 12:45 | 6058800 oddjob
oddjob's picture

Gold is backed by the time and effort needed to find and mine it. But I am sure some greasy unskilled academic will say otherwise.

Mon, 05/04/2015 - 13:05 | 6058839 Bunga Bunga
Bunga Bunga's picture

I agree, but the same is true for bitcoin. OK, you can claim that everyone can start a virtual currency for nothing. That's true. But everyone could start using a hard to recover material as currency for literally nothing. For instance tellurium is three times rarer than gold, but tellurium costs only $100/kg (about $3/Oz). So why gold is still an established currency and not tellurium? Because it's a cultural phenomena. Bitcoin is not only a technical invention, but a cultural phenomena too (because it combines technical innovation and an economic model without the need for a power indivisably for the first time during the information age).

Mon, 05/04/2015 - 13:11 | 6058887 oddjob
oddjob's picture

I doubt they jailed Bernard von NotHaus just for phenomena.

Any thoughts on why they don't respond to digital currenecies with the same nazi fervor?

Mon, 05/04/2015 - 13:26 | 6058929 Bunga Bunga
Bunga Bunga's picture

Because the power did not anticipate such a phenoma nor can it do something against it efficiently in contrast to NotHaus. 

Mon, 05/04/2015 - 13:37 | 6058960 oddjob
oddjob's picture

I would advise against relying on some greasy telco executive to allow your transfers and purchases thru their pipes.

.....but oddjob i don't need the intenet to trade and use bitcoin

Ok, so how is your Gold colored coin better than my solid gold coin?

<crickets>

 


Mon, 05/04/2015 - 13:49 | 6059050 Bunga Bunga
Bunga Bunga's picture

Filtering would be against the existing law and can be easily circumvented by encryption. Unless you ban technology and science nothing can stop it.

Mon, 05/04/2015 - 13:57 | 6059076 oddjob
oddjob's picture

Ok then, if we are talking laws, should we not prosecute the powers that have subverted real money?..or just give them a pass and move on to violating the constitution ourselves?

Mon, 05/04/2015 - 14:46 | 6059233 Bunga Bunga
Bunga Bunga's picture

Define 'real money'. Money is something the power defines through law and enforces through taxes. Without power there will be no money or a new power could just define anything as money. Then it becomes real money, anything else is just currency. 

Mon, 05/04/2015 - 13:40 | 6059009 TheHound73
TheHound73's picture

Because there is no easy-target central corp. or individual to go after. Because at its core bitcoin is just innocuous data, like emails.

Mon, 05/04/2015 - 13:42 | 6059018 oddjob
oddjob's picture

..and therein lies its value.

Mon, 05/04/2015 - 14:02 | 6059100 TheHound73
TheHound73's picture

Bitcoin's value is determined by buyers and sellers/supply and demand. Is there some problem with that? How is that any different than gold? Most of the gold supply was mined long ago, I just don't see how the effort spent mining 1000 years ago is supposed to affect how many chickens I can get for an ounce at my local market today or why I could get fewer or more chickens for the same ounce next month.

Mon, 05/04/2015 - 20:43 | 6059126 oddjob
oddjob's picture

No problems, lets go to the same farmers market and I'll take a half ounce Silver round and you take a group of numbers and we'll see who walks away with a bird.

Mon, 05/04/2015 - 23:38 | 6060841 Pseudonymous
Pseudonymous's picture

Gold as a currency in general (not a particular issuer's currency) is what Bunga Bunga called a cultural phenomenon. Here gold the currency corresponds to bitcoin the currency. Gold rounds minted by Bernard von NotHaus correspond to bitcoins with a special label put by someone. Both of these things are basically the underlying currency plus an extra label that comes with it. Paper currency at Bernard von NotHaus' company corresponds to an amount of bitcoin at MtGox or Coinbase or any other entity that (pretends to) holds it on the customers' behalf. You see, von NotHaus labeled his rounds "Liberty Dollars", which it seems is what the feds had issue with, but, perhaps more importantly, he was also issuing paper money backed (whether a honest 100% reserve or not - I don't know) by metal in the vault (like e-gold did). This goes way beyond what gold currency is and is perhaps the reason why the feds were both motivated and able to effectively go after him and his money.

Mints that make precious metal rounds and bars labeled merely with a unit of weight and purity (e.g. 1 Oz .9999 fine gold) are not outlawed.

"Authorities" don't even pretend to try to go after gold currency itself as it would be way more absurd than even the war on drugs. Going after bitcoin would be the same, but even more futile and they know it.

Mon, 05/04/2015 - 14:27 | 6059187 stewie
stewie's picture

Dude Tellurium is a Toxic metal!  Not good as Money...

Mon, 05/04/2015 - 17:10 | 6059822 gcjohns1971
gcjohns1971's picture

You are missing the point.  A commodity currency is not backed by anything.  It is itself the backing.  I would accept both Gold and Bitcoin as natural currencies on that basis.

Backing is only an indicator of durability, the price of that durability is determined by market factors.

Gold is not 'backed by' the difficulty of mining it.  The difficulty of mining it is what restricts the inflation of its supply.  Mathematics similarly restricts bitcoin supply.

Both of these attributes accrue to their rarity, and hence value POTENTIAL.

Neither accrue to their durability as a store of value.

The measure of their value in real goods and services are determined by markets. 

Inexplicably, a huge portion of the world have been hoodwinked by their banks & governments to accept non-durable - positively EPHEMERAL! - PROMISES (promisory notes to be exact) as a trading medium, while those same banks and governments do all within their power to collect, keep, and restrict durable trading media to themselves.  This drives down the value of durable currency by increasing total acceptable currency supply.

However, while all money is also currency, all currency is not necessarily money.   Said another way, you can always trade with money, but not everything you can trade with is money. 

Tide Laundry Detergent is a modern counter-culture example.  Tide, in the drug trade, is currency...but not money.  You can trade with it, but you can't store your wealth in it lest the prevailing currency change leaving you with nothing but clean clothing.

That's the difference between currency and money.

Here is where Gold and bitcoin are different.  Bitcoin depends on recently invented, highly fragile electronics technology for its existence.

Gold is an element on the periodic table, and as a practical matter, is for all intents and purposes impossible to truly destroy.

Mon, 05/04/2015 - 12:44 | 6058802 Drummond
Drummond's picture

Gold is not required to be backed by anything. It is the chicken and the egg.

Mon, 05/04/2015 - 12:55 | 6058832 Pseudonymous
Pseudonymous's picture

Neither is bitcoin. It represents work done in the past, like gold does. Bitcoin is the first such thing in the digital realm that can be really owned and transferred.

Mon, 05/04/2015 - 12:48 | 6058815 HonkyShogun
HonkyShogun's picture

Yeah, but you can't eat AAPL stock.

Mon, 05/04/2015 - 12:38 | 6058774 HonkyShogun
HonkyShogun's picture

Or if it wasn't entirely reliant on a digital network.

Mon, 05/04/2015 - 12:56 | 6058837 teslaberry
teslaberry's picture

bitcoins can be easily backed by gold. 

 

just buy bitcoins. hold gold in your vault and promise people that for every bitcoin they give you, you'll give them X amount of gold. 

obviously you will lose all your gold if you price the amount of physical in dollar equivalent of bitcoin btc/usd. because then you are just selling the gold market price. 

 

either sell the gold at a fixed bitcoin amount that is currently above the btc/usd gold price. 

 

or simply sell the btc at a fixed % premium to the btc/usd gold price , so that the btc amount is floating and you don't have to worry about the btc/usd convertibility peg dropping. 

 

at the end of the day-------------anyone can back anything with gold on an individual basis by just promising to provide gold in return for the thing tendered. 

 

reserve banking is a bottom up phenomena which is why it reoccurs throughout history.

 

i think such a move would get your the police fbi knocking on your door. and also, when the usd is digitized people are going to start trading silver coins anyways. 

Mon, 05/04/2015 - 13:07 | 6058882 Bunga Bunga
Bunga Bunga's picture

Promise you can believe in? I rather trust math.

Mon, 05/04/2015 - 15:23 | 6059388 square wave
square wave's picture

What value does Bitcoin have if the power goes out and/or there is no inerwebz connection?

Wed, 05/06/2015 - 13:23 | 6066287 Pseudonymous
Pseudonymous's picture

If you lose power and/or all digital communication your bitcoins don't lose value, they lose liquidity, temporarily, until you regain access to these things. That is unless you happen think it's not worth it or even desirable to maintain at least the little electric power/energy and digital communications required for basic bitcoin transactions or something like that lol.

Mon, 05/04/2015 - 12:24 | 6058719 gcjohns1971
gcjohns1971's picture

And by 'Cash' they mean paper fiat money.

But should anyone get the idea they can 'save' their money in highly liquid tradeable assets, like, oh, I don't know, GOLD AND SILVER COINS, then they escape the tax.

How clever of the Keynesians.

Mon, 05/04/2015 - 12:48 | 6058816 Kirk2NCC1701
Kirk2NCC1701's picture

For intellectual honesty, I'd modify your mantra...  Gold coins: yes.  Silver bars: Yes!  Silver coins: No!

Think about it... why would you carry an ounce (31 gram) of Ag, when a fiat note weighs far less?  If you're gonna cash money, then carry Cash/Paper and gold coins.  Keep that low-priced Ag in the form of 10 oz or 100 Oz bars -- at home.

And for those who buy AG because they "can't afford" AU, then reason dictates that your problem isn't the price of AU, but your Poverty.  You need to work on your Income side, not fret about AU price being "out of reach".  Cause AG alone -- or any single asset -- likely will not save your hide under varying political and economic conditions (e.g. if you bought Ag at $35 and are now forced to sell it at $15, cause "Stuff happens").

p.s. It occurs to me that those who spout Keynesian models, are far richer than those who typically consume it.  Ditto for those who promote Austrian economics.  Successful mass-marketeers typically do much better than most of their clients/customers.  Put another way... Salesmen are salesmen, regardless of what they're selling.  Caveat Emptor.  ;-)

Mon, 05/04/2015 - 14:31 | 6059200 goneYonder
goneYonder's picture

What's the difference is between ten 1 oz silver coins and one 10 oz bar? Just curious.

Mon, 05/04/2015 - 14:48 | 6059262 Thisson
Thisson's picture

Premiums.

Mon, 05/04/2015 - 16:52 | 6059694 gcjohns1971
gcjohns1971's picture

It occurs to me that Money is the most easily traded commodity.

So what people can afford, in terms of other products, is relevant if I want to buy something.

If I want to buy a good or service using money as my means, then my perspective trading partner wants to buy money using a good or service.

What they can afford is relevant. 

Using AU for most transactions is like trying to use a $10,000 Bill to buy chewing gum.  You'll have to pass on most transactions because your partner can't make change/doesn't know how to handle such large denominations.

Thanks for the advice, though.

Always good to have a different perspective.

 

Mon, 05/04/2015 - 12:24 | 6058720 TitusDuksas
TitusDuksas's picture

'confiscation of all wealth and the continual borrowing and taxation. This will lead to the total destruction of Western culture for we are plagued by....'

Calm down dear you'll make yourself ill.

Mon, 05/04/2015 - 12:24 | 6058721 wmbz
wmbz's picture

The majority of the citizens in Aus. will go right along with this. Perhaps a grumble or two, but as long as the Gubmint promises to take "care" of them, they will pay.

Same thing will happen here in the USSA... it's just around the corner.

Mon, 05/04/2015 - 12:26 | 6058730 luckylongshot
luckylongshot's picture

Hopefully even the Aussies are not stupid enough to allow themselves to be robbed by corrupt politicians

Mon, 05/04/2015 - 12:28 | 6058734 kchrisc
kchrisc's picture

Look at that dude. He wears psychopathy like a suit. Especially his eyes. Just like Perry of Texas, the next Oval Office puppets of the DC US.

Liberty is a demand. Tyranny is submission.

 

In the end guillotines will become the ultimate "voting" booth.

Mon, 05/04/2015 - 12:57 | 6058840 Anusocracy
Anusocracy's picture

Definitely a killer clown without makeup.

Mon, 05/04/2015 - 12:28 | 6058736 TruthBeforeAll
TruthBeforeAll's picture

It's only totalitarianism if you resist. STOP RESISTING. WHAM! STOP RESISTING. POW!

Mon, 05/04/2015 - 15:31 | 6059434 NoTTD
NoTTD's picture

Why are you hitting yourself?

Why are you hitting yourself?

Why are you hitting yourself?

Why are you hitting yourself?

Why are you hitting yourself?

Why are you hitting yourself?

etc...

Mon, 05/04/2015 - 12:32 | 6058750 Grimaldus
Grimaldus's picture

"This is the ultimate Marxist state for now anyone with spare cash is the enemy of the Conservative Tony Abbott government."

 

There is nothing conservative about it. Total leftist progressive tyranny.

Grimaldus

 

Mon, 05/04/2015 - 13:08 | 6058886 Freddie
Freddie's picture

New Zealand's scum PM Bob Key is a dual shit-i-Zen.  This guy looks like he is one too - though he claims to be a Catholic though he appears to have ties to the Jesuits.

Mon, 05/04/2015 - 12:32 | 6058754 Be_Optimistic
Be_Optimistic's picture

Take take take

Mon, 05/04/2015 - 12:35 | 6058763 ...out of space
...out of space's picture

to me it looks like the west side is encoruage the bank run- ecb with confiscation, rba with tax.. 

so if mass bank run will start, they can blame people for accessibility to physical money for the banks holiday/collapse and have excuse for introduction  digital money. 

Mon, 05/04/2015 - 12:35 | 6058765 falak pema
falak pema's picture

My my, "MArxist" state...hahahahaha...

The scions of Capitalism caught with their pants down now pretend they have gone to the other side.

Bring down that wall Mr Gorbatchev so that we can pull up another one that will make the Stasi pink with envy and the Kremlin green from being ram rodded and buried 6' foot under by King Greenback's FIAT machine...

ZH now sees Marxists hiding under Warren Buffet's T-bone steak. 

More head up ass than this libertarian gobbeldy gooking is gonna make Uncle Scrooge look like a Politburo member! 

Hahahaha.... If only Zorro were alive today he would mark you guys who post this hyped up junk food with his famous ZZZZZZ...right between the eyes.

The age of economic totalitariansim is the boomerang effect of Bubble-o- nomics debt hyperinflaton of asset ramp up now bringing down Jack's Bean Stawk. So Bail-ins it has to be and only the savers can participate as those in debt have already been skinned alive like greek sardines. 

Its just  the MATH stupid! Keeping in mind the chief Oligarchs will be the last to be called in; just like in all exclusive clubs...

Mon, 05/04/2015 - 12:41 | 6058790 Monetas
Monetas's picture

Why did America build the biggest Ponzi scheme in history .... for the same reason dogs lick their balls !

Mon, 05/04/2015 - 15:32 | 6059445 NoTTD
NoTTD's picture

Why are you commies so fucking sensitive?

Mon, 05/04/2015 - 12:36 | 6058768 stewmint
stewmint's picture

Is there a link? Or I should now just trust Martin's sources "behind the curtain"?

Mon, 05/04/2015 - 12:44 | 6058801 Skateboarder
Skateboarder's picture

ZH reported it about a month ago:

http://www.zerohedge.com/news/2015-03-29/australia-start-taxing-bank-dep...

A quick search for "australia bank deposit tax" yielded an article from the Sydney Morning Herald

http://www.smh.com.au/business/banking-and-finance/cba-says-deposit-tax-...

which includes the following paragraph:

"The money raised from the tax would be invested in a Financial Stability Fund and only used in the unlikely event of a bank collapse, but the fund would also prop up the budget by offsetting gross debt like the Future Fund does."

Yeah fucking right!

Mon, 05/04/2015 - 14:06 | 6059117 samsara
samsara's picture

SMH   Great newspaper.  

Mon, 05/04/2015 - 15:33 | 6059449 NoTTD
NoTTD's picture

...for pinkos.

Mon, 05/04/2015 - 19:32 | 6060298 Bazza McKenzie
Bazza McKenzie's picture

SMH makes the NYT and WaPo look like conservatives.

Mon, 05/04/2015 - 12:37 | 6058769 ILLILLILLI
ILLILLILLI's picture

Expect to see the requirement for total electronic transactions...no exceptions.

The tagline will be "Only terrorists and criminals need cash"...and that will include PMs and other tangibles, too.

Do NOT follow this link or you will be banned from the site!