Gird Your Loins: IRS 'Wealth Squads' Are on the Way

American Scofflaw

Newly created exam teams will scrub wealthy taxpayers' hedge funds, trusts and foreign accounts.

Those who by anyone’s measure would be considered wealthy, should be on notice: How you acquired and now maintain the wherewithal to be so labeled may soon be called into question by the IRS. That’s not to say that the questions can’t be answered and the matter closed with no further tax due, but the means to that end could get complicated.

Last Fall, IRS Commissioner Doug Shulman unveiled his vision for a Global High Wealth Exam Group--the latest addition to the agency’s arsenal of compliance strategies. Its goal is to ensure that these high-end Form 1040 filers are not shirking their federal tax responsibilities. While the exact amount of “wealth” that will arouse IRS interest was not disclosed, the Commissioner suggested a threshold in the neighborhood of tens of million of dollars. According to the most recently released IRS estimates, in 2004 there were approximately 47,000 individual taxpayers with a net worth of $20,000,000 or more. ...

This will not be a kick-the-tires type of exam. Instead, think in terms of a major overhaul. Global High Wealth taxpayers and their representatives should expect to confront teams of revenue agents, partnership experts, and international examiners prepared to scrub not only the Forms 1040 and the attached schedules but also any and all related returns. In the background will be specialists in such areas as financial instruments; exempt organizations; retirement plans (whether individually maintained or employer sponsored) and insurance and annuity arrangements. And for those who like to play on the edge, do not overlook the possibility of a criminal investigation agent being asked to join the group. The bottom line is that these teams will have access to whatever resources they need.

Going Concern, Memo to Rich People: Gird Your Loins for the IRS ‘Wealth Squads’:

For those of you keeping score, the ballpark figure of “wealth” is “in the neighborhood of tens of million of dollars,” according to IRS Commish Doug Shulman’s best guess. So if this is you, the time is nigh. You peasants whose net worth falls into the seven figure range probably can rest easy but don’t get too comfortable, you’re still at risk.

And don’t think that this will be a friendly visit between you, your CPA and an IRS representative. No, this will likely be a financial strip search that will be topped off with a latex surgical glove moseying around your nether regions.

Signs of Practical Preparations for a Possible US Military Operation against Iran

The Gay Secretary

This is hardly "... “the first time that the public is getting word of practical preparations of military activity.”

The US public has been getting "groomed" for such an operation for years, by various bits and pieces of propaganda, coupled with disinformation.

This drive for war, orchestrated by Tel Aviv, in which American kids will fight, get killed, or maimed for life, has absolutely nothing to do with Iran's peaceful nuclear energy program.

Just as happened in Iraq, the US will be called to neutralize yet another non-existent "existential threat" to the Jewish state.

The bottom line here is, no country in the Middle East is safe until Israel is stopped from indulging in its consistent territorial aggressions.

Unfortunately, Israel's near-pathological national paranoia, fueled by hubristic delusions of religious supremacy and coupled with demands that it should always get everything it wants, may well create the conditions of its own demise.

Neither Russia, nor China (Iran's number one trading partner) will sit idly by and allow such an attack to happen against Iran without consequences.

It is simply a question of what form those consequences will take.

Ron Paul: Inside Sources Told Me Fed Is Panicking At Mass Awakening

The Gay Secretary

When you have a private central bank such as the Federal Reserve System (which is no more "Federal" than Federal Express) issuing the public currency at interest, then the moment that first printed piece of paper goes into circulation, more money is owed to the Federal Reserve than actually exists. As new borrowers are found to allow creation of more currency, the interest on the old money gets paid in what amounts to a giant pyramid scheme, but in the end, the cumulative debt always outstrips the available currency.

That is the trap.

The system works as long as ever larger pools of new borrowers can be found to create new money to pay the interest on the old money. But when everyone in the country (or planet) is already a borrower and nobody will borrow any more, then the pyramid collapses which is what is happening right now.

The scale of the swindle by the Federal Reserve makes Bernie Madoff-with-the-loot look like a kid who wraps scotch tape around their fingers backwards to grab a coin from the church collection plate as it passes by.

But despite its size, the central bank system is a pyramid and doomed to collapse like one.

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence

$24,000 Rolex passes through security, and when owner went to retrieve it, it had mysteriously vanished

American Scofflaw
A woman is suing the TSA after she says she was forced to take off her $24,000 Rolex to pass through security, and when she went to retrieve it, it had mysteriously vanished.

...[she] said she was preparing to board a return flight to Jacksonville last February when she was ordered by security officers to put her watch in a bin and place it on a conveyor belt. She said she objected several times but was told she had no choice if she wanted to board her flight, so eventually she complied.

...[she] said she became hysterical after realizing the watch was gone. She called Shirk for advice. She asked for police to be called, but security officers told her she was disrupting the area and had to leave.

In denying her claim, the TSA said there were “no legally sustainable grounds” for finding the TSA liable. Security cameras in the airport apparently weren't working at the time.

Public opinion turning against Obama on oil spill

The Gay Secretary

If "TOP KILL" fails to stop the Gulf Oil volcano, I think we can count on attacking, well, anybody next week as a distraction.

And while Obama bears a share of the blame for his handing out of waivers and exemptions to BP, the fact is that the entire government has failed in their role of caring for the national infrastructure, which is what WE THE PEOPLE pay them to do. The Federal Government is so totally subverted by Israeli dual nationals that they spend all their time screaming about who is a better friend to Israel, and shoveling money and weapons to Israel as hard as they ca. Meanwhile, our roads are crumbling our coal mines caving in, our bridges are collapsing, and of course, the Deepwater Horizon wreck is gushing oil onto the Gulf States harder than DC gushes red ink!

So, what do we hear from the White House? That Obama will invite Benjamin Netanyahu to a meeting next week to discuss Israel's security! This hard on the heels of the documentary proof that Israel is in fact a nuclear state and has so many nuclear weapons they have been trying to sell them off to countries like South Africa!

Far from being just Obama's Katrina, the oil disaster is the Federal Government's Chernobyl. We are finding out that the government inspectors in charge of oil drilling safety were spending their taxpayer-funded time watching porn on their taxpayer-funded computers while allowing the oil companies to fill out the inspection and audit reports!

If you are not angry, there is something seriously wrong with you.

That's odd; Israel has been saying they plan on running the global government!

The Gay Secretary

Billionaire globalist George Soros told the Financial Times during an interview that China will supplant the United States as the leader of the new world order and that America should not resist the country’s decline as the dollar weakens, living standards drop, and a new global currency is introduced.

Asked what Obama should discuss when he visits China next month, Soros stated, “This would be the time because I think you really need to bring China into the creation of a new world order, financial world order,” adding that China was a reluctant member of the IMF who didn’t make enough of a contribution.

“I think you need a new world order that China has to be part of the process of creating it and they have to buy in, they have to own it in the same way as the United States owns…the current order,” said Soros, adding that the G20 was a move in this direction.

Soros said that there was a flight from currencies across the board, and that this is why the price of commodities, notably gold and oil, were generally rising. He also stated that an orderly decline of the dollar was “desirable” and that the entire system needed to be reconstituted towards a global currency.

“You need a new currency system and actually the Special Drawing Rights do give you the makings of a system and I think it’s ill-considered on the part of the United States to resist the wider use of Special Drawing Rights, they could be very useful now when you have a global shortfall of demand, you could actually internationally create currency through Special Drawing Rights,” said Soros, explaining that this was already in process after the IMF injected an allocation of Special Drawing Rights (SDRs) equivalent to $250 billion into the global economy.

Soros also stated that richer countries were already transferring wealth to poorer countries via SDR’s, with the IMF paying for the half per cent transaction cost.

Soros said the world would have to go through a “painful adjustment” following the decline of the dollar and the introduction of a global currency. Reading between the lines, he essentially threatened to kill the dollar completely if the United States did not get on board with the global currency.

Soros predicted that China would become the new engine of the global economy, replacing the U.S., and that this would slow economic growth and reduce living standards. Soros characterized the United States as a drag on the global economy because of the declining dollar.

John Kerry Says Voter Anger at Washington Is Hypocritical

The Gay Secretary

Memo to Senator Kerry: I have rarely seen such a completely out-of-touch, mischaracterization of the current sentiment in this country.

Taxation without representation were the watchwords of the American Revolution.

But what we are seeing happen in Congress, in terms of most Congressional representatives having become "acquisitions" of the major corporations (particularly concerning the large defense companies), is just that circumstance happening again.

The only perspective of most Congressional members toward the citizens they allegedly represent appears to be as a (theoretically unending) supply of tax money, to be tapped cavalierly without ever having to balance the Federal government, or rein in government spending in any meaningful way.

Without these insane and immoral wars without end and their costs, which thinking US citizens do not support (plus the 3 billion the US government coughs up - illegally - for Israel every year), there would be money left for the social security and medicare for which American workers have theoretically paid their entire working lives, but will not be getting, because this government is broke.

Without these wars, there would be money to mend infrastructure, highways, bridges, schools, and hospitals

It is obvious that this is a man who has never in his life had to make payroll, keep employees employed during tough times, had his credit line pulled by a a bank through no fault of his own (just because the bank reserves were thin), or found his good-paying job outsourced, leaving him with no way to support a family or pay his mortgage.

Those issues, coupled with the fact that we are dealing with a Federal government which has spent itself nearly into bankruptcy, are the reasons why Americans are legitimately angry at this government. The anger here is not hypocritical; it is completely logical, and Senator Kerry understands, at some level, that these concerns are true.

Tourists to visit Colosseum underground

American Scofflaw
Tourists will soon be able to visit the underground of the Colosseum, where gladiators once prepared for fights and lions and tigers were caged before entertaining the public.The underground area had previously been off limits

Rome culture officials said that, after several months of work to make the area safe for visits, the public will be allowed to add the underground section to tours of the arena starting in late summer. No exact date has been set.

Architect Barbara Nazzaro said that tourists will be able to see the spaces where lions, tigers and bulls were kept in cages before they were hoisted on elevators to ground level for entertainment in the ancient arena.

Elephants were too heavy for the rope-hoisted elevators. They made their grand entrance into the Colosseum through main gates.

The ingenious system of lifts allowing wild animals to suddenly pop up at ground level made for an entertaining sight, Ms Nazzaro said. "This was very appreciated by the public," she said.

The animal show was just one part of a day's entertainment at the arena. First, the audience watched a hunting spectacle, then came executions, and finally the gladiators squared off, said Nazzaro, who worked on the project to open the space to today's public.

A piece of mortar recently broke off from a part of the Colosseum during closing hours, but caused no injuries. Officials say the monument is in need of constant monitoring and maintenance, but its overall stability is not at risk.

Kagan Helped Shield Saudis From 9/11 Lawsuits

The Gay Secretary

Elena Kagan, President Barack Obama’s latest nominee to the Supreme Court, helped protect the Saudi royal family from lawsuits that sought to hold al Qaeda financiers responsible in the wake of the Sept. 11, 2001 attacks.

The suits were filed by thousands of family members and others affected by the Sept. 11 attacks. In court papers, they provided evidence that members of the Saudi royal family had channeled millions to al Qaeda prior to the bombings, often in contravention of direct guidance from the United States.

But Kagan, acting as President Obama’s Solicitor General, argued that the case should not be heard even if evidence proved that the Saudis helped underwrite al Qaeda, because it would interfere with US foreign policy with the oil-rich nation. She posited “that the princes are immune from petitioners’ claims” because of “the potentially significant foreign relations consequences of subjecting another sovereign state to suit.”

In an interview with the Philadelphia Inquirer published Tuesday, the mother of a man who was killed on United Flight 93 in Pennsylvania said he didn’t know why Kagan argued that the case not even be heard. By keeping the case off the dockets, the Saudis were spared scrutiny of their finances.

“We had hoped she would be with us so that we could have our day in court,” Beverly Burnett said.

“I find this reprehensible,” said Kristen Breitweiser, another family member whose husband was killed in the 9/11 attacks, said at the time. “One would have hoped that the Obama administration would have taken a different stance than the Bush administration, and you wonder what message this sends to victims of terrorism around the world.”

The Obama Administration’s decision to intervene in the Saudi-al Qaeda case so irritated two Republican senators that they introduced legislation aiming to ensure that Americans have the ability to sue foreign governments.

Sen. Arlen Specter (D-PA) and Sen. Lindsey Graham (R-SC) offered a proposal to amend the Foreign Sovereign Immunities Act, which Kagan cited as one reason the Saudi case should not be heard. Both senators said that US citizens should be able to sue foreign governments if they are found to be supporting terrorist activity.

Specter, who has since become a Democrat, was unusually blunt.
“She wants to coddle the Saudis,” he said.

Facebook founder called trusting users dumb f*cks

American Scofflaw

Loveable Facebook founder Mark Zuckerberg called his first few thousand users "dumb fucks" for trusting him with their data, published IM transcripts show. Facebook hasn't disputed the authenticity of the transcript.

Zuckerberg was chatting with an unnamed friend, apparently in early 2004. Business Insider, which has a series of quite juicy anecdotes about Facebook's early days, takes the credit for this one.

The exchange apparently ran like this:

Zuck: Yeah so if you ever need info about anyone at Harvard

Zuck: Just ask.

Zuck: I have over 4,000 emails, pictures, addresses, SNS

[Redacted Friend's Name]: What? How'd you manage that one?

Zuck: People just submitted it.

Zuck: I don't know why.

Zuck: They "trust me"

Zuck: Dumb fucks

American Military Zeroes Waking Up

THE GAY SECRETARY
Is the top US brass getting tired of working for the IDF?

Tonight's radio guest*, Religious Studies professor Ira Chernus, just published an article entitled Blood or Treasure: Obama's Crucial Choice in the Middle East. The article begins: "Writing about U.S. Middle East policy used to be a boring job. You'd start out with 'The U.S. supports Israel's stand on...' and then just fill in the details. No longer. Many pundits claim to smell the winds of policy change blowing from the White House."

Why the change? Admitting that there is little hard information, just "a riot of rumors," Chernus suggests that a "new message from the military elite" is pushing the Obama administration to confront the Zionists. According to Chernus, such top US military leaders as Gen. Petraeus are drawing a line in the sand between America's interests and Israel's interests.

Next week's radio guest** Gordon Duff, suggests that the source of this generals' revolt is the rapidly spreading knowledge among the US military elite that 9/11 was a Zionist false-flag operation. Duff, editor of Veterans' Today and self-styled key source for leaks from high-level US military figures, told me last week that more and more US officers are aware of and unhappy about Israel's 9/11 false-flag attack on America and continuing Mossad sponsorship of such follow-up false-flag events as the underwear bombing escapade. He added that Obama has sided with the generals against the Israelis, who, he says, are trying to cover their 9/11 tracks through a "flight forward" into a wider Mideast war, presumably one ignited by another big false-flag attack on America. (Duff's prediction of an immanent false-flag event was quickly followed by the Times Square episode, another pathetic "bomb that couldn't possibly blow up" song-and-dance presumably sponsored by the usual suspects.)

Duff suggests Obama and the newly 9/11-savvy military leaders are up against near-complete Zionist control of Congress and the media.

Is Duff right about 9/11 truth being the key factor turning the generals, and with them the Obama Administration, against the Zionist regime of 9/11 suspect Benjamin Netanyahu? Listen to my interviews with Chernus tonight, and Duff next week, then decide for yourself.

US faces same problems as Greece, says Bank of England

It does; a private central bank issuing the public currency at interest. The very nature of such a system guarantees that the debt to the private bank will always exceed the available money supply, enslaving the people and their government to that bank. By any reasonable definition, a private central bank issuing the public currency at interest is a pyramid scheme, doomed to collapse when it becomes impossible to draw more borrowers into the bottom to prop up the top, which is exactly what is happening right now.

Stay Away, I've got Drones

Obama warns the group to stay away and tells them he has drones. They sneak up on you, he says.

What was he looking at during Senate session?

looking at pornographic material on his state-issued computer on the Senate floor??

An Easily Understandable Explanation of Derivative Markets

American Scofflaw

An Easily Understandable Explanation of Derivative Markets.

Heidi is the proprietor of a bar in Detroit. She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar. To solve this problem, she comes up with a new marketing plan that allows her customers to drink now, but pay later. She keeps track of the drinks consumed in a ledger.

Word gets around about Heidi's "drink now, pay later" marketing strategy and, as a result, increasing numbers of customers flood into Heidi's bar. Soon she has the largest sales volume for any bar in Detroit.

By providing her customers freedom from immediate payment demands, Heidi gets no resistance when, at regular intervals, she substantially increases her prices for wine and beer, the most consumed beverages. Consequently, Heidi's gross sales volume increases massively.

A young and dynamic Vice President at the local bank recognizes that these customer debts constitute valuable future assets, and increases Heidi's borrowing limit. He sees no reason for any undue concern, since he has the debts of the unemployed alcoholics as collateral.

At the bank's corporate headquarters, expert traders transform these customer loans into DRINKBONDS, ALKIBONDS and PUKEBONDS. These Securities are then bundled and traded on international security markets. Naive investors don't really understand that the securities being sold to them as AAA secured bonds are really the debts of unemployed alcoholics. Nevertheless, the bond prices continuously climb, and the securities soon become the hottest-selling items for some of the nation's leading brokerage houses.

One day, even though the bond prices are still climbing, a risk manager at the original local bank decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi's bar. He so informs Heidi.

Heidi then demands payment from her alcoholic patrons, but being unemployed alcoholics they cannot pay back their drinking debts. Since Heidi cannot fulfill her loan obligations, she is forced into bankruptcy. The bar closes and the eleven employees lose their jobs.

Overnight, DRINKBONDS, ALKIBONDS and PUKEBONDS drop in price by 90%. The collapsed bond asset value destroys the banks liquidity and prevents it from issuing new loans, thus freezing credit and economic activity in the community.

The suppliers of Heidi's bar had granted her generous payment extensions and had invested their firms' pension funds in the various BOND securities. They find they are now faced with not only having to write off her bad debt but also with losing over 90% of the presumed value of the bonds. Her wine supplier claims bankruptcy, closing the doors on a family business that had endured for three generations, and her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 150 workers.

Fortunately, the bank, the brokerage houses and their respective executives are saved and bailed out by a multi-billion dollar, no-strings attached cash infusion from their cronies in Government. The funds required for this bailout are obtained by new taxes levied on employed, middle-class, non-drinkers who have never been in Heidi's bar.

Now, do we all understand?

Well, there you have it folks... pretty easy to GRASP the concept now eh??