Showing posts with label US Government. Show all posts
Showing posts with label US Government. Show all posts

Wednesday, May 15, 2013

US Government Begins BitCoin Crackdown

Governments have confiscated citizen's gold and silver in the past, because they are sound, competitive currencies to fiat money.  Is it any surprise that the Feds cracked down on BitCoin, another competitive currency--although virtual in nature?

http://www.zerohedge.com/news/2013-05-15/us-government-begins-bitcoin-crackdown

Saturday, October 27, 2012

Major Banks, Governmental Officials and Their Comrade Capitalists Targets of Spire Law Group, LLP's Racketeering and Money Laundering Lawsuit Seeking Return of $43 Trillion to the United States Treasury

A law firm just sued the US government and banks, among others, for $43 trillion in damages for money laundering and racketeering. By invoking RICO laws, the plaintiffs are maintaining these banksters and their co-conspirators are organized crime partners.  I'm not saying the lawsuit doesn't have merit, but good luck on getting a favorable judgment, and then collecting.

http://www.marketwatch.com/story/major-banks-governmental-officials-and-their-comrade-capitalists-targets-of-spire-law-group-llps-racketeering-and-money-laundering-lawsuit-seeking-return-of-43-trillion-to-the-united-states-treasury-2012-10-25

Sunday, April 24, 2011

Treasury claims power to seize gold and silver -- and everything else

http://www.gata.org/node/5606
The U.S. Government has the authority to prohibit the private possession of gold and silver coin and bullion by U.S. citizens during wartime, and, during wartime and declared emergencies, to freeze their ownership of shares of mining companies, the TreasuryDepartment has told the Gold Anti-Trust Action Committee.

But gold and silver advocates shouldn't feel too picked on. For the U.S. Government claims the authority in declared emergencies to seize or freeze just about everything else that might be considered a financial instrument.

The government's authority to interfere with the ownership of gold, silver, and mining shares arises, Thornton wrote, from the Trading With the Enemy Act, which became law in 1917 during World War I and applies during declared wars, and from 1977's International Emergency Economic Powers Act, which can be applied without declared wars.

While the Trading With the Enemy Act authorizes the government to interfere with the ownership of gold and silver particularly, it also applies to all forms of currency and all securities. So the Treasury official stressed that it could be applied not just to shares of gold and silver mining companies but to the shares of all companies in which there is a foreign ownership interest. Further, there is no requirement in the law that the targets of the government's interference must have some connection to the declared enemies of the United States, or, really, some connection to foreign ownership. Anything that can be construed as a financial instrument, no matter how innocently it has been used, is subject to seizure under the Trading With the Enemy Act and the International Emergency Economic Powers Act.

Saturday, March 27, 2010

Niall Ferguson on sovereign debt (repeat)

This is a repeat blog from last month, but I'd like to highlight one paragraph.

http://www.ft.com/cms/s/0/f90bca10-1679-11df-bf44-00144feab49a.html?nclick_check=1


Yet even a casual look at the fiscal position of the federal government (not to mention the states) makes a nonsense of the phrase “safe haven”. US government debt is a safe haven the way Pearl Harbor was a safe haven in 1941.

Wednesday, March 17, 2010

Moody's puts US AAA credit rating in question

One could argue the US government is already insolvent. Is it coincidental that Berkshire Hathaway's Warren Buffett is reducing its holdings in Moody's, the credit ratings agency? Berkshire, the American icon of capitalism, itself was recently downgraded.

http://www.nytimes.com/2010/03/16/business/global/16rating.html