On Politics

     

 

 

Goods and Services Tax, and Gold (Part XV)

Below is a scene from anti-GST protests by traders in the Indian city of Surat. On 1st  July 2017, India changed the way it imposes indirect taxes. As a result, there has been massive chaos around the country. Many businesses are closed for they don’t know what taxes apply to them, or how to do the paperwork. Factories are shut, and businesses are protesting.

 


A massive anti-GST protest in Surat  [PT]

 

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What Constitution?

One of the many downfalls of being the United States Secretary of the Treasury is the requirement to place one’s autograph on the face of the Federal Reserve’s legal tender notes. There, on public display, is an overt record of a critical defect.  A signature endorsement of a Federal Reserve note by the Treasury Secretary represents their personal ratification of unconstitutional money.

 

 

 

There it is, plain as day. The former treasury secretary clearly put his signature on money with highly dubious legal credentials. Evidently he must have found it agreeable though. [PT]

 

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French Fraud

POITOU, FRANCE – “Which is worse? America or France?” The question must be put in context. We were invited to dinner with local farmers last night. Jean-Yves and Arlette live in a modest house in the nearby town – an efficient and cozy place built about 25 years ago. They’ve added a solarium to the back, where we had dinner.

 

FAF – French-American Friendship. These days it’s a “which is worse” competition… [PT]

 

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Crackpot Schemes

POITOU, FRANCE – “Nothing really changes.” Sitting next to us at breakfast, a companion was reading an article written by the No. 2 man in France, Édouard Philippe, in Le Monde. The headline promised to tell us how the country was going to “deblock” itself.  But upon inspection, the proposals were the same old claptrap about favoring “green” energy… changing the tax code to reward one group and punish another…  and spending more money on various humbug initiatives.

 

Subsidized green energy scams are mainly creating eyesores – other than that, they add up to nothing but cronyism writ large. After the one of the biggest solar company bankruptcies ever happened in Spain, a detailed economic study found that for every subsidized renewable energy job the government “created” (at a cost of nearly $2 million per job!) 2.2 jobs were lost elsewhere. It is a good bet that the math isn’t much different elsewhere. To add insult to injury, there is precisely zero evidence that carbon emissions are reduced by even one iota due to these efforts. It is an apodictic certainty that no economy can possibly be “rescued” by the subsidization of this nonsense. There is a widespread belief in government circles that “economic growth” can somehow be conjured up by bureaucrats. That is a costly error that increasingly endangers the future of Western civilization. [PT]

 

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Beating the War Drums at the UN

It must now be a prerequisite of those who become an American ambassador to the UN to possess certain characteristics and traits, the most important of which are rabid warmonger, child killer, and outright liar.

 

As anyone who is in possession of more than three brain cells well knows, these warmongering psychopaths couldn’t care less about the victims they use for their war propaganda. Their crocodile tears and somber faces are 100% fake – and their record speaks for itself. Every single military intervention of recent years has done nothing but create chaos and misery for millions, not to mention blowback of ever more grotesque proportions, ranging from incessant terror attacks to a veritable flood of refugees inundating the West. Never before in history has global terrorism flourished to an even remotely comparable degree than since the “global war on terror” has started (see “The Greatest Racket of All Time” for the sobering details). If you want to know why, just “follow the money”, as the saying goes. The war racket is cronyism squared, a giant horn of plenty for a fairly sizable caste of profiteers. As an aside, this particular racket is closely associated with the manner in which States have historically come into being. States were born when gangs of armed bandits decided that instead of just pillaging, raping and killing peaceful communities, it would be more lucrative to conquer them and install a giant protection racket. This principle has not changed with the adoption of democracy. Moreover, if anything, war has become more brutal, comprehensive and frequent (the draft, a form of slavery, was e.g. first introduced in the course of the French Revolution). Apart from a few notable exceptions, the concept of “collateral damage” was largely unknown in feudal times. People generally didn’t care who got to rule over them, and battles between the mercenary armies of assorted lords were often treated as public spectacles (the exceptions were in the main confined to religiously inspired conflicts). In modern democracies the the extraction of funds for the war racket from taxpayers requires pretexts, which are constantly invoked. Not surprisingly, the world has become a far more dangerous place since the end of the so-called “cold war”. [PT]

Photo credit: Rick Bajornas

 

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But the Crisis has Deepened and has Become More Entrenched (Part XIV)

 

Nobody for President

On 17th July 2017, India will elect a new President through a vote of the elected representatives. The two real choices are between Ram Nath Kovind and Meira Kumar. Afraid of looking completely ignorant, I asked a few people who Kovind is. No-one knew of him and people only vaguely remembered Ms. Kumar.

 

Adults and juveniles have been arrested in different parts of India for celebrating Pakistan’s victory over India in a recently held cricket match. They have been charged with sedition, a charge that has serious legal ramifications and can potentially send these people to prison for life. With the British gone for 70 years, India’s laws and institutions have lost all mooring to their rational anchors.

Photo credit: Amnesty India

 

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Disproportionate Rewards

The International Monetary Fund reported an unpleasant outlook for the U.S. economy on Wednesday.  The IMF, as part of its annual review, believes the U.S. economic model isn’t working as well as it could to generate shared income growth.

 

Supping with the IMF (we recommend trying to avoid invitations to structurally adjusted suppers if possible. Their air of finality is reportedly unbearable). [PT]

 

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Putting on the Purple

 

Mayor: Drebin, I don’t want any more trouble like you had last year on the South Side. Understand? That’s my policy.

Drebin: Yes. Well, when I see five weirdos dressed in togas stabbing a guy in the middle of the park in full view of 100 people, I shoot the bastards. That’s my policy.

Mayor: That was a Shakespeare in the Park production of Julius Caesar, you moron! You killed five actors! Good ones.

– The Naked Gun

 

Laura Loomer, the first protester to rush the stage to interrupt the enactment of stabbing Donald “Caesar” Trump in a new version of Shakespeare’s play Julius Caesar. Apparently it has been transformed into some kind of leftist/ establishment/ Deep State wish fulfillment fantasy, which in turn has predictably triggered supporters of Mr. Trump. Since Ms. Loomer first rushed the stage, other protesters have followed her lead (see here for the back story on Loomer – thereafter protesters stormed the stage againand again…). In the meantime several companies have pulled their sponsorship of “Public Theater”, the group performing the play, presumably because the actual shooting of several Republican lawmakers by a deranged Bernie Sanders supporter made it seem like a truly major publicity fail in the making. We would note the following: Normally it is actually not a  good idea to publicly suggest that one would like to assassinate the POTUS – issuing such threats is illegal and will result in a visit by national security minions and quite likely a charge. Mr. Trump appears to have become the exception to this rule – there has been a veritable flood of death threats against him on social media and elsewhere, but we have yet to hear of anyone getting into trouble over this.

Photo credit: Fox News

 

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Pushing the Global Warming Scam

Two of Europe’s greatest contemporary enemies recently got together to compare notes and discuss how they were going to further undermine and destabilize what remains of the Continent’s civilization.  Pope Francis and German Chancellor Angela Merkel met on June 17, in the Vatican’s Apostolic Palace to discuss the issues which will be raised at a Group of 20 summit meeting in Hamburg, from July 7-8.

 

Preparing for the G-20 gab fest: Pope Francis and Angela Merkel, two of the most harmful busybodies and world improvers of modern times.

Photo credit: Credit Ettore Ferrari / European Pressphoto Agency

 

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Down the Rabbit Hole

“The hurrier I go, the behinder I get,” is oft attributed to the White Rabbit from Lewis Carroll’s, Alice in Wonderland.  Where this axiom appears within the text of the story is a mystery.  But we suspect the White Rabbit must utter it about the time Alice follows him down the rabbit hole.

 

Pick a rabbit to follow…

 

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Maurice Jackson Interviews Jayant Bhandari

We are happy to present another interview conducted by Maurice Jackson of Proven and Probable with our friend and frequent contributor Jayant Bhandari, a specialist on gold mining investment, the world’s most outspoken emerging market contrarian, host of the highly regarded annual Capitalism and Morality conference in London and consultant to institutional investors.

 

As soon as Jayant touches down in London, he is accosted by microphone-wielding young women eager to hear what he has to say…

Photo via financialpost.com

 

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“Russiagate”

WEST RIVER, MARYLAND – We’re back at our post – watching… reading… trying to connect the dots. And we begin by asking: What do “think tanks” think about? The answer in a minute.

First, there is a dust-up in the Washington, D.C., area. “Russiagate,” it is called. As near as we can make out, some people think the Trump team had or has illegal or inappropriate contacts with the Russian government.

 

It’s all very obvious, if one looks closely…  Putin has inundated the brains of US voters with his evil Putin rays from his redoubt in Moscow, causing them to make the wrong choice.

 

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