Crowd Walks out on Obama

Obama-Campaign2014

Obama is going down as perhaps the worst President in history. One would think he would be concerned about his personal reputation. Nobody wants him campaigning for them – they call Bill Clinton before Obama. In a rare appearance on the campaign trail on Sunday with a rally to support the Democratic candidate for governor in Maryland, the crowd began to break up and many just walked out while he spoke. Obama’s unpopularity is just amazing. His approval ratings are hovering around record lows and when the economy turns down after 2015.75, there will be a year left for him to play more golf and not much else.

ObamaCare-CadillacTax

Most candidates from his party have been dodging him. The Democrats are likely to lose the Senate and they feel that he is the leading cause. Just wait for the worst of the Obamacare to hit when people are taxed on benefits and the IRS starts seizing people’s houses and property just for fun. Of course he delayed that part until 2016 when he get to go out-of-town.

 

Dow for 10-30-2014

DJIND-D 10-30-2014

 

Here is Thursday and we have broken back up to new highs on our cyclical models without electing a bullish reversal yesterday. Resistance stands at the 17195 level and a closing below 17000 today will imply that we have a high in place. Closing resistance will stand at 17010, 17143, and 17246. We need a closing above at least 17,143 to imply that we could continue higher into next week. Otherwise, a failure to closing above 17142 will suggest we may have the high today.

Tomorrow is the end of the month. We are looking at a closing below 16898 tomorrow will suggest that we should press lower. A closing tomorrow below 16920 will imply that we may see a break next week back to test support.

We have the elections next week. While the Republicans may gain seats in the House and retake the Senate, the sad part is this is still unlikely to create any change. Unless you can get rid of the leadership, there will be no change. The Republicans will still support the NSA and other Draconian measures as we…

Greek Bonds Get Smashed – Prelude to the Euro Crisis?

Greek 10Yr 10-30-2014

Greek bonds were being sold again sharply today. The 10 year bond spreads to Germany are wider by 60 BP on the day! Rumors are always floating around and maybe we should just expect more intraday volatility; especially given that the chasing opposition SYRIZA party have been gaining steadily in recent polls!

Brussels will only attempt to consolidate power, never to solve the crisis. They only see everything through their own self-interest. Consequently, this is not about helping Europe weather the storm their created with a single currency without a single debt. Can you imagine if the reserves of all banks in the USA were based upon an admixture of state bonds absent federal issues? Such a system would be playing Russian roulette never knowing which banks are safe and who bought the wrong bonds.

Spies Play the Same Game as Int’l Bankers

GCHQ

British intelligence service has finally admitted that is seizing the information on people without any legal warrant or supervision. They are accessing raw material collected in bulk by the NSA in the USA and other foreign spy agencies without a warrant (reported the Guardian). What is really taking place is secret deals. It is illegal for many to spy on their own citizens so they allow each other to spy on the other’s citizens and then they swap the data all pretending to be illegal.

Corzin-Obama

This is the same way the banks play games. The MF Global deal takes the money from accounts in the USA each night and sends it to London. To put money into REPO in London, they MUST have the authorization of a the client (owner of the money). The US branch then signed the documents in London as the “client” of the London branch so everything is nice and legal. The problem is that in the USA, they never get the approval of clients to send their money overnight into the REPO markets. Hence, they all play games between each other to circumvent the laws.

IRS is Seizing Money of Small Business Operator Routinely!

STRUCTURING

The new trick the IRS has been doing is attacking small mom and pop businesses on a ROUTINE basis. The number of reports coming in from around the country are outrageous where small businesses deposit daily receipts under $10,000 kicks off their rule about what is known as “structuring” – depositing money under $10,000 or withdrawing that cash to avoid reporting by banks to the IRS.

If you deposit $10,000 or more, the bank must report the transaction to the Internal Revenue Service, and you’ll need to explain where you got the money. Don’t even think about dividing the cash into smaller amounts to stay below this limit, because the IRS can investigate you for structuring, which is an attempt to prevent the bank from reporting your deposit. Structuring is illegal. Even if you earned the money through legal channels and paid the necessary taxes, the IRS can charge you with criminal activity and take your money.

The IRS will now just seize your accounts and it becomes your burden to get your money back and that you were not STRUCTURING. Good luck. To simply deposit regularly small amounts of money means you are more likely than not never going to see that money again. Whatever you have in your bank accounts, the entire thing, will be taken by the IRS leaving you penniless. The problem that is developing is that more and more small businesses are being forced into bankruptcy because of the IRS. Try and get your money back and it will take months if you have the lawyers.

The accounts of Carole Hinders, pictured above, at her small cash-only Mexican restaurant in Arnolds Park, Iowa. The NY Times reported how last year tax agents seized her funds. Small business is so often attacked by tax authorities both federal and state all because these people are dead broke and are hunting money desperately.

The IRS is desperate for money and they are hunting loose change everywhere. Judges are ruling in their favor routinely for their salaries and pensions are also at stake. They are looking to regulate your accountant and where they want to go is to compel them eventually to turn you in if your avoid taxes. They are seeking somehow to break the bonds of client confidentiality.

Then there is the tax on healthcare that is coming – the Cadillac Tax of Obama. Anyone who has a benefit will find the IRS declaring that to be income and they will want their pound of flesh.

Between FATCA and Obama’s girl, Christine LaGarde of the IMF threatening to ban countries out of the SWIFT system unless they turn over lists of all foreigners with accounts, this Sovereign Debt Crisis is wiping out the economy faster than anyone suspects. Nobody will even look at the impact of these actions because all they see is dollars and they want them for themselves.

Constantine-Sol

Constantine the Great Pictures with Sun God – Sol

 

Those in power even threatened to ban the Vatican from the SWIFT system. Look, when it comes to money, religion means nothing – that is just something to keep the masses in check. Those in government have always looked to confiscate the wealth of religions for their own use. Constantine pretended to be Christian so he could confiscate the wealth of all Pagan Temples. Henry VIII was desperate for money and confiscated the Catholic Church. Let’s not forget Napoleon who imprisoned a Pope. Then there was Philip IV of France who confiscated the Catholic Church and moved it to France/ He then installed a French puppet to be pope who declared the Nights Templar demon worshipers so he could confiscate the assets they held for others. Don’t forget he confiscated and jailed the Italian bankers after he could not pay his debts to them So LaGarde threatening the Vatican was within the historical context. Those in power are NEVER really religous – they just pretend to be. It does not matter if you are Catholic or not. No religious order will EVER be exempt.

It does not appear that we have a prayer in hell here of stopping the total destruction of the World Economy. Everything that was built post-WWII was on the free flow of capital that made the world prosperous. That world flow of capital is off tremendously and the hunt for taxes is reducing global investment. This will lead to astonishing volatility in the years ahead.