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Archive for the ‘Finance’ Category

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I understand that when I write this it will be evident that I’m clearly not an ordinary American.  And I’m completely OK with that.  Here goes… I don’t believe that the AIG CEO should have been drawn in front of the cameras and skewered by Congressmen.  I don’t believe that AIG honoring contracts to pay $165 million in bonuses is a heinous act.  In fact, I feel that this whole parade of finger pointing at AIG is simply an effort to take the focus off of who is truly at fault in the first place.  This whole debacle is merely the result of a government gone bad—publicly—making even more horrible mistakes as they try to fix their egregious errors, and getting caught with the consequences. 

 

aig-buildingAIG is completely responsible for the debacle they created in the first place.  Clearly they got carried away with their own sense of power and influence and wrote too many checks they could not cover.  And they talked a good talk to many other key financial institutions worldwide to get them to play in their power game as well.  So what did that get us?  Financial ruin.  Now let’s look at this for a moment…  These people are supposedly uber-giants of expertise in financial management and yet they could not manage their own house!  They got completely drunk with their power and just like an inebriated lug of a giant they lost their reasoning and functionality abilities and stumbled—hard!  OK.  So we’ve got a giant who’s in a drunken stupor about to self-destruct and take down questionably innocent bystanders in his wake.  What do we do?  Well, yeah, we give the alcoholic lush MORE power.  No, we don’t take his license or privilege away.  No, we don’t put him into any kind of treatment.  Instead, we find him an even better “dealer” to work with (a.k.a. the Federal Reserve and U.S. Treasury) who can simply bail them out.  We give him an even more audacious privilege of using the tax payer dollars and that of several generations to come to “get him back on his feet.”  And then when he functions the same way he did previously, and even has the audacity to honor contracts, we react to publicly condemn him?  Condemn the giant so that nobody is wise to the “dealer” who feeds and encourages his misbehavior.  Now that’s quite the deception isn’t it?  (Side bar: It’s interesting to note that Congress doesn’t really care about the legality of contracts.  They don’t even enforce the most significant contract we Americans have to protect us, that of the U.S. Constitution.)

 

Here’s the perfect part of this deception, folks.  If (and I’m SOOO inclined to say “when”) AIG can’t pay us all back, what happens to them?  If they go bankrupt, what recourse do we, the tax payers who’ve been yoked with indentured servitude in order to lift this giant’s sorry caboose back up, get back?  What’s our collateral on this loan we’ve been forced to issue at the risk of death, jail time, or social and emotional ruin?  Not one blasted thing!  Nothing.  We probably won’t even get a sincere apology from a public official when it does go belly up.  Adding insult to injury is the fact that the primary people making these decisions are themselves so completely disconnected from the real picture due to their own wanton consumption habits.  They are endowed with their salary for the rest of their life, benefit from a royal health plan, and yet some even fail to pay their own taxes.  

 

aig-moneyAIG clearly has their own problems.  But just as I shake my head in disbelief when women refuse to leave their abusive husbands, I just can’t figure out what kind of maniacal plan the Secretary of Treasury and the Federal Reserve had in mind on this one.  Who gave them the authority to determine that one business gets bailed out above another?  That one business is any more important to our social fabric than another?  That the consequences called Real Life don’t apply to these companies?  Even worse, IF you’re going to perform such an unprecedented act, aren’t you at least willing to go through the homework of everything that act entails, i.e. reading all of the contracts that are presently in place, properly appraising just how much their other assets really are worth, etc?!  Gentlemen, don’t approve the act of an AIG bailout 100% and then get mad when something happens that you didn’t know about – i.e.: the AIG bonuses.  You had every opportunity to know everything there was to know.  It’s called a test.  A real life test.  You know, the kind of real life testing that all of your schooling and life experiences are supposed to prepare you for so that you’re actually competent enough to take the job that the American people pay you to do!  And clearly you screwed up!  It’s your own freaking fault that you didn’t know about it!  Just as it’s your own freaking fault that you overpaid for assets in the tens of billions of dollars!  So let’s be perfectly clear about this… whoever closed the bail out deal with AIG in the first place is 100% responsible and should be FIRED and perhaps even have charges filed for willful negligence at best, or treasonous acts at worst. 

 

madoff1How dare our government condemn Madoff when they are doing the EXACT same thing with all of our money?  And lest anyone forget, yes – it’s OUR money, not the government’s.  We earn it while we work on the frontlines while we simultaneously are shown how little responsibility and accountability means to those who are in power.  And yet we still provide our tax dollars for the purposes of paying for a government to protect our freedoms.

 

The U.S. Government is mismanaging funds.

 

They are playing a shell game. 

 

The Federal Reserve just keeps printing money and yet REFUSES to provide our country with an accounting of just how much money (via the M3 report) they are printing, thus we are unable to define for ourselves what our currency is really worth.  How in the world is that any different than Madoff having his CPA send out false solubility reports to his investors?!

 

direct-unapportioned-taxOh, and one last point I’d like to make here.  So, you have a government who has totally screwed up publicly enough that even the mainstream media can’t ignore it, and so what do the do to truly fix the problem?  They paint every recipient of that $165 million bonus share as some kind of a criminal—even a terrorist if you will—against the sovereignty of this American people.  And to show you just how big and powerful they are, they actually draft a bill which would directly tax all of these financial terrorists with a 90% tax!  Using taxes as a weapon, you say?  How can they do that?  They can’t.  It’s called a direct unapportioned tax, and it’s 100% illegal and completely unconstitutional, for the very same reasons why your present federal income tax is illegal.  You don’t believe that our wonderful U.S. government would commit such an illegal act?  Really?  You just watched them try to do it right in front of your eyes against the AIG bonus recipients! 

 

Of course the government did nothing to preemptively thwart the payment of the bonuses to AIG executives.  That’s because, very much like the ridiculous stimulus bill, they didn’t even bother to comprehend the entire picture of their actions.  This is the same government who overpaid by over $70 billion dollars for the assets it purchased from the companies it bailed out!  Whether or not there was a senator who acknowledged and attempted to keep the bonuses in the contract is beside the point.

 

I say kudos to the AIG Executive who resigned in the New York Times today!  And I don’t care whether or not he does donate any of his money to charity.  Legally, contractually, it’s his money.  The U.S. Government simply bought into a Lion’s Zoo and is now whining when they got bit!  And now they are claiming foul because many of the vital AIG personnel refuse to work under such circumstances.  aig-ceoCan you blame them?  Sure you can’t relate to such a huge bonus in your own life.  I get that.  But it’s what the guy signed on for.  It was part of the reason why he left his previous job to take a position with AIG 11 years ago.  And now he’s being asked to work for free for an undetermined period of time while AIG fixes all of their screw ups and be persecuted by nearly an entire country in the meantime.  Does that sound like a job you’d want to keep?  Heck, when I heard during the live Congressional questioning that the CEO was working for $1 and taking all of the crap from Congress, I would have quit on the spot and told Congress that they can fix their own mess and not use me as a whipping boy.

 

Here’s some wisdom my mother taught me.  “Be very aware of what people say about other people, because they are likely to be saying the same thing about you when you’re not around.”  You’ve seen what the U.S. Government is willing to do when we are looking.  Now, get a clue as to what they are doing when we’re not watching!

Copyright 2009 Kellene Bishop. All rights reserved.
You are welcome to repost this information so long as it is credited to Kellene Bishop.  
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swiss-bankHere’s food for thought for you.  Is the Swiss Banking system actually cahoots in with the IRS and our government?  I believe there is sufficient evidence to indicate that their recent buckling to legal maneuvering on the part of the U.S. and their supposed outrage at having to do so, is merely a ruse.  I believe that there is reason to believe that there’s more to these actions of divulging names of their U.S. depositors than simply complying with the premise of a lawsuit.  You decide.

 

So here’s the problem with the U.S. suing the Swiss Banking system to reveal the names of its account holders who may be guilty of tax fraud or tax evasion.  You’ve got at least 2 wrongs that definitely aren’t making up any rights.

 

First of all, it’s a fishing expedition.  None of these individuals have been proven in the U.S. to have committed tax fraud or tax evasion.  And yet without formal indictments the U.S. feels that it has cause to subpoena every American-held account in Switzerland?  No, instead the U.S. is making suppositions that if someone has an overseas account in the Swiss Banking system then they must be committing a crime.  That kind of supposition is AGAINST our legal system and our due process of law. 

 

Additionally, IF the government’s idea of tax fraud or evasion has ANYTHING to do with paying federal income taxes, then that too is illegal on our country’s part as federal income taxes are indeed illegal.  We merely pay them out of fear, submission, and ignorance.  No wonder we see IRS agents training with guns!  I’m sorry.  Someone tell me again why IRS tax collectors need to train with guns?  Hey if it’s for their own self-defense, I’m all for it.  But it’s the IRS who sanctions and REQUIRES such training.  (Man, I’m sure many of you would love to work for a company that requires you to use a firearm instead of penalizing you from even storing one in your car on company property!)  A repo man is not allowed to use a gun to get property back.  Are we supposed to believe that the IRS is a government entity?  Um…it is NOT.  These are U.S. citizens who have been deceived into believing they work for an official government entity and are enforcing some kind of federal law by collecting taxes on our labor—at gun point if necessary!  So why do the IRS have so much authority to spread fear into American citizens?  Oh, yeah…now I get it – because the IRS cannot commit their actions with the strength of truth and the law behind them.  They can only get away with what they do via force, fear, and brutal compulsion.  former-irs-agentsIf you don’t believe a word I’ve said in this regard, check on the testimony of countless former IRS Agents who have been fired and socially skewered for questioning the IRS tax system, unable to find any justification for the federal income tax, who they themselves do NOT pay a federal income tax as a result of their belief that the law is on their side — and join a million of other Americans who do not pay their federal income tax, and who have boldly attempted to get their findings out to the rest of the citizens in the U.S.  One last note on the IRS — after decades of protestors taking this matter to courts of every level, to their IRS supervisors, and to legal mediation, there has yet to be ONE person who can show the LAW which enables the IRS to collect personal income tax.  Even the Supreme Court found that the 16th Amendment did NOT provide any new power or authority to tax than the government had prior to the 16th Amendment.

tax-evasion2Second fly in the ointment.  Tax evasion is not illegal in Switzerland.  And tax fraud has to be proven.  The fact that the Swiss Banking system has collapsed to a law suit by the U.S. government has suspicion written all over it.  The Swiss Banking system generated 36 percent of their income in the U.S. last year.  They contribute to about 20 percent of their economic growth in their own nation every year.  The fact that they would crumble like a sick dog due to a suit filed in a U.S. federal court is very suspicious to me.  Either their nation is crumbling, or ours made a sweet deal with them.  After acquiescing to providing 300 names to the U.S. (not evidence of any wrong-doing, mind you, just names, hence the “fishing expedition theory”) the U.S. turned around and sued for over 52,000 more names!!  Now how much do you want to bet that the U.S. doesn’t even have cases filed for over 52,000 wealthy individuals they suspect of tax fraud or evasion?  Switzerland has no legal justification to accommodate such a request other than bullying and fear or other reprisals.  Peter V. Kunz, head of the business law department at the University of Bern stated, “Switzerland is afraid of fishing expeditions from abroad,” Kunz said.  “It cannot be that just out of curiosity, without any hint of illegality, foreign authorities come to Switzerland and ask for information.”   The ridiculous nature of what is happening is that Switzerland IS allowing individuals to get information simply out of curiosity!

Bank secrecy is literally a cash cow in the Swiss Banking systems.  They could lose at least 50 percent of their depositors if they do not recover from this scandal immediately. 

 

Michigan Senator Carl Levin who oversees the U.S. Senate subcommittee which is investigating United Bank of Switzerland proposed new laws this week to STOP Americans from acting freely with their own money and to prevent them from using offshore financial centers altogether.  (This legislation was previously sponsored by Barack Obama!)  That’s right.  Our own currency and economy is going to hell in a hand basket, and this uppity senator wants to ensure that we all go down with it! At the very least they want to be able to put stiffer taxes on those with offshore accounts and give the Treasury Department the authority to take action against foreign jurisdictions that impede their efforts.

 

URUGUAY/Our government claims that “conduct that actively facilitates tax evasion amounts to a declaration of war by offshore secrecy jurisdictions against honest, hardworking taxpayers.  We’re determined to fight back and end the abuses inflicted on us by those tax havens.”  In my opinion those who have placed some of their assets overseas are merely fighting the war that already exists within our own borders of illegal tax burdens and an economy that is unstable and out of control BECAUSE OF CHOICES WHICH OUR GOVERNMENT HAS MADE…not some act of God.  To me, our government bullying one of our allies in this manner and attempting to eliminate this venue for the income earners of our nation is no different than them attempting to take our firearms away.  I truly believe that they are indeed attempting to give us nothing to fight back with, including our own money.

 

Financial MeltdownNow how is this kind of reach of power even possible across country borders?  Because of the Federal Reserve and its relationship with the World Bank, that’s how.  And here we thought we lived in a republic, when in fact we are being governed by an international banking entity. 

 

This problem will not fix itself folks.  We don’t get to live in a republic if we do not act like free citizens and use our freedom to right wrongs.  Take action.  Start writing and start calling your government “leaders.”

Copyright 2009 Kellene Bishop. All rights reserved.
You are welcome to repost this information so long as it is credited to Kellene Bishop.  

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bailout-gm-chryslerAs I shared earlier, bailing out the auto manufacturers of GM and Chrysler is a very bad idea.  These companies have already shown that they are incapable of running a tight ship.  And they could easily declare bankruptcy and never pay back the American taxpayers the money we’ve given them.  Well, guess what?  That’s exactly what GMs auditors are saying is going to happen with GM.  In spite of the bailout monies given to them, there is still talk of filing for bankruptcy “protection.”  I love how they call it that in corporate America.  “Protection”…like the taxpayers are the bad guys for wanting their bailout money paid back.

As you know AIG has been granted MORE money.  This is what really irks me.  GM and Chrysler are auto manufacturers. I suppose you can expect that they will “miscalculate” money.  But AIG is a money manager!  Not only were they criminal in their handling of money previously, but we gave them a bailout and they’ve shown that they are consistent with their mismanagement of money yet again!  What part of us giving them MORE money doesn’t seem incredibly ludicrous to anyone else out there?

apathyAnd yet we Americans have allowed this insanity to rage on.  Who reading this has actually taken time to write their government “leaders” and let them know that this is unacceptable?  Very, very few.  And since the rationale can be applied that the “very few” don’t reflect the sentiments of the majority, the insanity rages on because our government “leaders” have forgotten their responsibility is to solely defend and protect our freedoms.  If such a crystal clear ruler was used when they made such insane financial decisions, then the bail out would never have happened in the first place, let alone the stimulus package. In what way do these monies defend and protect the freedoms of American citizens life, liberty, and possession of property?  NONE.  It only creates a heavier burden of bondage on us due to the horrific taxation that will follow. 

I pray that it is not too late for Americans to take action and responsibility for the insurance of their own freedoms instead of continuing to delegate incompetents to do so.

In Freedom,

Kellene

Copyright 2009 Kellene Bishop. All rights reserved.
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brand-new-house*There’s a brand spanking new house on my street that has lost over $10,000 in equity every single month for the last 10 months!

 

*The Dow is just barely above 7,000 points which is a critical support level of our economy.  Once it goes down below that, then we will lose a significant number of investors who have reliably played a part in our economy. 

 

*Banks STILL are not lending freely with the tax dollars we’ve provided them–whether it be home mortgages, business loans or auto loans.  Previously banks would issue about 130% of the book value of a brand new car so long as you had a credit score above 680.  Now you have to have a 750 credit score to get 105% of the book value for a brand new car!  Wait a minute.  I give you the money so that you can lend, and then you don’t lend to those who gave you the money?  Something is VERY wrong here.

 

*Cheese, produce, and grains have increased in price by as much as 400%.  I used be able to buy an artichoke for less than a dollar each.  Now it’s nearly $4 each.  A bag of wheat used to cost $8.99 for a 50 pound bag.  Now it’s as much as $45 for the same 50 pounds!  The same goes for rice, cheese, milk, etc. 

 

emperors-new-clothesI don’t know how “rich” Obama thinks the wealthy are, but he’s ridiculous to think that the rich are going to be able to pull us out of the recession.  Thinking that the government is the answer to this crisis is WORSE than “The Emperor’s New Clothes” because the emperor is strutting around naked, trying to tell everyone that he’s wearing new clothes, but he actually KNOWS that he’s strutting around in his birthday suit!

 

There is discussion going on in Capital Hill right now that in order to “save” the elderly, they are going to take over the administration of retirement accounts.  WHAT?  You mean the same government who can’t properly oversee the bankrupt Social Security accounts of our nation now want us to believe that they can handle our other retirement accounts?  This is the same government which doesn’t know the difference between a Promise and a Lie.

 

The government can’t even count votes, can’t pay their own taxes, overpays by BILLIONS of dollars for assets which they buy, can’t “make” banks give loans even when they provide them with the money to do so, can’t protect the freedom of our citizens — which is their number one responsibility — and can’t even take the time to read what they are voting on, and yet we’re supposed to believe that they are the sole solution for this economic meltdown?  PUH-LEEZE!

 

If this keeps up we’ll WISH we were living in a socialistic nation, only because it’s the lesser evil to a monarchy!

 

I believe that there are still REAL Americans out there that are starting to recognize that they’ve been hoodwinked, who are not cowards as the Attorney General likes to call them.  I think a Boston Tea Party is the least of our governments concerns. 

 

The Government has forgotten their purpose – to SERVE the American people.  Instead they are helping themselves to the fruits of the labors of the American people. They have forgotten that a FREE people are responsible for giving them any power in the first place, and that a FREE people have the rights to reclaim and reorganize that power. 

 

reclaim-freedomPeople of America, exercise your rights and make those cell phones and e-mails, fax machines and overpriced stamps actually mean something.  WRITE your legislatures, senators, congressmen, governors.  Reclaim your freedoms!  Our hard earned liberties which have cost the lives of thousands are being depleted more stringently and in more atrocious manners than any cause ever before!

 

Our lives, liberty and property depend on these freedoms.  Our peace and happiness depend on these freedoms. 

 

This crisis of our nation isn’t just about “overcoming the economy”. Warren Buffet was quoted today as saying that the American people “have overcome worse.”  No, they have NOT — to be completely forthright. They have NEVER been confronted with such a financial crisis COMBINED with a crisis of freedoms and rights!  Their money AND their freedoms are being stripped away.  This is a crisis that we have NEVER had to overcome previously.  I PRAY that we have the strength to overcome it now.

 

 

To find out who your local legislatures, senators, congressmen, governors are to contact, please visit http://www.visi.com/juan/congress/.

Copyright 2009 Kellene Bishop. All rights reserved.
You are welcome to repost this information so long as it is credited to Kellene Bishop.  
 

 

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expensive-gasI think that the stimulus package is a GREAT idea.  I think it just may stimulate a wealth of what this nation needs the most of right now…ACTION.

If you had been caught up in a natural disaster and went to the gas pump to purchase fuel only to find that the prices had been jacked up to $10 a gallon, surely you would take action right?  You would call the authorities. You would demand that things be made right, right? 

 

Then why are so many of our American citizens allowing for the same price gauging behavior now in the midst of this economic crisis?!

 

1100 pages of a bill that no one has read and yet our so-called leaders have voted for on our behalf.  Really?  On our behalf?  Was it in our behalf that the gas station jacked up its price to $10 a gallon?  No.  It was opportunistic politicking. And it’s very much like price gauging.

 

So many citizens are in a panic mode. They are understandably demanding action.  And as a result of our vulnerable pain and concern our political leaders who were voted into office to serve our needs are using such a dire situation to orchestrate their continued role of power and the charade of serving their fellowmen. 

 

And since no one read the 1100 pages of a spending bill, we’re now hearing that there may need to be yet another spending bill to fill in the gaps!

 

The American people did not cry out for a bill to fix roads, IRS administrative costs, or STD prevention.  I’m sorry. This may sound crass here. But why in the world should my children, grandchildren, and great-grandchildren have to be indebted with a tax burden just because someone can’t take time to use a condom or to manage their hormones?!  

 

They NEED jobs and tax relief!  And yet only 12 cents of every dollar we are burdened with in the form of taxes will even go to that end. 

 

If these facts don’t bring you to take action to reclaim your freedom and dignity, then I’m not sure what will. You wouldn’t suffer yourself to endure such indignity of a price gauging at a gas station. Surely you will not stand for something so much worse!

 

I hope that this stimulus bill creates action on the part of our American citizens, as we’ve had a dearth of such action since the Regan era of capitalism.  This bill is a prison sentence to generations upon generations.  This bill certainly won’t create jobs.  It will make some cronies wealthy, I’m sure.  But no government can create jobs for a free people and have them continue to be free.  Only we can truly be responsible for our living, our debts, and our future and still have freedom.

 

Copyright 2009 Kellene Bishop. All rights reserved.
You are welcome to repost this information so long as it is credited to Kellene Bishop.  

 

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bail-out-plan

When we used to hear the words “bail out” we would usually associate it with a sentence like, “I just had to bail out my crack addict cousin from jail.”  I find myself wondering if it isn’t a coincidence that such a pairing of words is considered appropriate for what we find being implemented by our government today.

 

Based on the information that we’ve been fed by the media, yes, I believe it was a crime what Bernie Madoff did to his investors. Clearly he was derelict in his duties.  However, I’m wondering why Madoff is a criminal and yet the heads of Goldman Sachs, AIG, Countrywide, and so many others aren’t considered a member of the criminal league? While Madoff is accused of abusing $50 billion, Goldman Sachs, AIG and others are truly guilty of abusing significantly more!  And yet there are no criminal charges brought against these leaders.  Were these professionals derelict in their duties?  Yes.  Were they apathetic towards their handling of others money?  Yes.  In such a world that we live in, there’s simply no excuse NOT to make money with so much money.  Madoff was an idiot not to have succeeded in making a return on investments of over $50 billion as are the heads of so many of these Wall Street companies and banks. Yes, indeed these criminals are being bailed out at the expense of the honest tax paying citizens of this nation.  And all for naught.  Think about it.  Does the bailout for these banks and investment companies do any good financially?  I mean really!  Does anyone think that once the nation has seen how such companies mismanage funds that any sane person is really going to trust these same companies with their retirement money?  This bail out is as insane as throwing money at the Diamond Pet Food company who poisoned so many pets due to dereliction and apathy just so that they could recover from the financial hardship such an error created!  Hey, while were at it, let’s go back in time and bailout all of the dot com companies that caused such a financial hardship for so many investors!

 

Of course we have politicians in favor of such payouts.  Apparently many of them have a problem even acknowledging that such monies are coming from their tax dollars as many of them have not even paid their taxes!

 

automotive-bailoutGeneral Motors and Chrysler just received a portion of this criminal action reward in the form of billions of dollars.  Even more ridiculous is that these companies are already anticipating failure in spite of such a bail out, as they are already projecting a need for another $14 billion!  I’m sorry.  Would that kind of strategy work for any homeowner in the U.S. today?  “Hey. I know you just gave me a loan of $1 million for a home I can’t currently afford.  So in order to make up for the shortfall I need to borrow another $2 million.”

 

Here’s the even more insane aspect of this bailout.  General Motors and Chrysler can STILL declare bankruptcy somewhere down the road and the American taxpayers will never be paid back.  And yet the American people do not have the luxury of declaring bankruptcy as a result of our tax burden.  Nope.  You can file bankruptcy and be relieved of debt for everyone else in the world except the U.S. Government.  You don’t pay them.  You go to jail. 

 

Perhaps if these automakers didn’t promote aggressive price haggling and foreign outsourcing of some of their production process they could have enjoyed more long-term customer loyalty.  While I did not get the opportunity to vote against my tax dollars being used in such a criminally insane manner, I can vote now.  And so should you.  I intend to “vote” by solely rewarding automakers who are fiscally responsible with their companies.  If money can be handled so haphazardly by these automakers, then I can’t help but wonder how conscientious these same automakers are in making my vehicle safe enough to transport my family in.  I vote no more GM or Chrysler.  If GM and Chrysler are willing to sell their soul to the devil (ie: government control in exchange for the money they received) then what are they willing to sell my safety for?

 

Does failure really deserve a reward such as those given on the backs of the taxpayers?  In that case, perhaps the British should still rule our nation.  NOT!

Copyright 2009 Kellene Bishop. All rights reserved.
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