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Ecelent picture of MM interest rates instability in Europe:



So how much longer do you think this termite-eaten tree is going to stay standing? I thought this most recent round of troubles might bring it down. It tottered, but it looks like it righted itself.

And what will bring it down? Oil prices? The next round of foreclosures? Drop in the dollar? Or will it hang on till China puts its out of its misery?

I don't usually root for disasters, but the longer this keeps up, the worse the crash is going to be. Better to get it over with sooner rather than later.


Amazing :

Israel asks U.S. foreign aid be paid in EUROS



Elaine, fantastic blog, which I only just discovered even though I have been a regular reader on matters of monetary madness. How do you manage to post so much and in so much detail? It's astonishing, and very impressive.

Wondering if you could spell out in a little more detail the dark deal with the devil you allude to between China and Japan. It's intriguing (and scary) but I'm not sure I quite understand. I get the broader message that everything is in China's power now and they've got the gun to everyone's head, but I don't quite see the gory details of what happens when they pull the trigger.

As an aside, I don't believe that story about Israel asking for foreign aid in euros. That would be beyond audacious, and searching the story on Google turns up only conspiratorial blogs. I sniff out conspiracies as much as the next guy but really ...


Quiz time USA!!! What's the opposite of piratize, ah, i mean privatize?

Elaine Meinel Supkis

The opposite of piratize is 'Robin Hoodize'. :)

Elaine Meinel Supkis

The deal between Japan and China is totally secret right now. I peeked into the murk and using tea leaves and consulting with interested vultures, figured it was a back-scratch deal: China will let Japan set yen levels and Japan will let China do likewise.

Remember; the US has been trying to get everyone to attack China's currency and the game is to RAISE currency values, not drop them...except for the US: we want to weaken the dollar only no one with trade surpluses want that ! Yet the dollar is dropping because it is worthless. Japan and China don't mind it being worthless, they are not done destroying our industrial base yet.


Asia states buying West financial infraestruture:



Another interesting story:



Sounds rather "Lou Dobbsian" to me. The evil bankers. The criminal leadership. The reprehensible tax havens. The odious multinationals. Oh, our hearts bleed for the everyday working man, who sweats and gets didly for his labour! Let's retreat into super-flag-flying-patrotism! Put up tariff walls. Oppose immigration. More taxes! I know! Let's play the Blame Game!

Sure, the entire system is skewed toward wealth and power. But you and I also have a choice: use the system as it is, game it for our own ends. Or drop out, avoid it, retreat into precious metals investing, gun ownership, survivalists.

The working classes have become the 'consuming classes'. They got themselves into this mess, demanding a standard of living undeserved on the basis of productivity. THEY - not 'the system' -are responsible. Now American standards of living WILL unavoidably be wrenched downward, either through economic dislocations or currency debasement. Get used to it.

Neuro Artist

As far as I can see TaxHaven there is two sides affecting us that you bring up. It has become unprofitable to produce and save, and it is profitable to borrow and speculate. That is "the system", and it goes through the entire society from the working class, turned consumer class, who could speculate in the housing bubble, get easy piecy loans that hardly costa thang, while "working" as a security guard in the mall or the school (where they don´t learn how to count and are discouraged to think), could hardly keep up spending as their "wealth" in housing values growed. At the same time, they were bombarded in the "news" on TV with the lifestyles of the ultrarich and famous, told by the president that the next most patriotic thing they could do was to go to Disneyland and shop 'til they drop, after going to holy war in Iraq to "defend" their country against the "terrorists". The few who did see this mess for what it was, where given the new "safe" anti-depressants and anti-hypertensives by their medical doctors, numbing down their brains to the point they felt good about it.

Those who designed this mess, the evil bankers and their corporate pirate friends (war-business, oil-business, disease-business, media-whore-business) and figurehead politicians will retreat to the taxhavens with their loot, laughing all the way to the vaults of gold, and the rest will be debt slaves until they revolt or starve to death or get killed in the war.

Who said that mind-controll games doesn't work? It has worked beautifully. Obviously the human cattle at the receiving end of the stick is to blame for trusting their leaders. They shouldn't have done that! But they'll pay the price.

Those who "plays the game", commit suicide! Thats the decent thing to do, just jump, thats usually what happens anyway in the end game (remember 1929)! All those money the soul was sold for, all vanished!

Death penalty for the designers of the game.

Those who opted out of the game, try to stay alive! A better world is possible after the smoke clears.



First off, what Neuro said -- ditto.

Secondly, your name gives you away. I notice it is not "LibertyHaven" or "FreedomHaven" or "OnMyOwnHaven". Your focus, like so many rich and rich wannabes, is avoiding taxes. However, you do not mention which taxes you want to avoid in your safe haven. All taxes?

I deal with tax avoiders all the time at work. They come to us for help because they think taxes are unfair (for them), and then they yell and pump their fists whenever we smack the hell out of some tiny third world country. They all have signed photographs of themselves standing with Reagan or Bush sitting in their offices and American flags everywhere.

They are much worse than the working class, who are just being led around by the nose while busy producing things we need. The tax haven specialists know better. They produce nothing and do not know what sweat is. They believe only in themselves and their personal right to be rich at everyone else's expense.

Is that the kind of person you want to be, TaxHaven?


I'm not wealthy, DeVaul. I save and invest: in bullion, precious metals stocks and cash. I work hard at it. I'm trying to defeat a system designed to skin us alive and keep us consuming stuff we don't need with money we borrow. I never borrow; I only save. I work at my day job, invest the proceeds and count on not only one day being financially independent, but on being independent of the state. I resent seeing my slothful neighbours here living from government make-work project to make-work project. I resent seeing people spend, spend, spend and be rewarded, tax-wise and inflation-wise, by government. I see loads of people with all kinds of doodads, gewgaws and gadgets they don't need and that were purchased with borrowed money only made possible through government-engineered artificially-low interest rates.

I had 200K or so in Guernsey and the Isle of Man (which ARE 'tax havens') but recently have decided that even that, with tax-free interest income, is not keeping up with government-induced inflation. So I'm getting it out.

By the way, tax havens are wonderful ways of controlling government. The truly rich earn their money too, whether you agree with gaming the system or not, and have a right to keep 100% of it, just as do you and I. I'm leaning libertarian here, I'll admit: government is an artificial imposition on the society and economy. It's only there because they have the guns and police, so I'll be damned if I'll have my money confiscated and turned over to others under the guise of being a "patriotic taxpayer".

Elaine Meinel Supkis

Sailing away from the pirate coves, eh, Matey? Avast and ahoy.

TaxHaven is a classic anarchist: to each his own and devil take the hindmost. Alas, this gets ruined when tax haven meets the real pirates, the ones with swords gripped in their teeth and two pistols firing as they fly off the rigging and board the ship filled with fat sheep waiting on top of a pile of gold.

PS: I spent many years learning how to do hand to hand fighting and even more years, learning sword fighting. A great skill to cultivate.

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