Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


The Real Deal: Make Way for Killers & the Tax Haven Round Up

Make Way for the Killers & the Great Tax Haven Round Up

By Catherine Austin Fitts
May 20, 2013

http://solari.com/blog/make-way-for-the-killers-the-great-tax-haven-round-up/

There are no scandals in Washington. There is simply a turnover. We are preparing for an escalation of the global financial war. The old team are simply being told to step aside. Make way for the killers.

When G-7 concluded their emergency meeting in London last weekend, they announced that they were going to target tax havens. What does this mean? After months of G-7 central banks buying mortgage bonds and equities, the hunt for capital is on. Off course, we knew the tax havens were in the crosshairs all ready – only intelligence agencies can dump out the kind of leaks we have been seeing over the last month leading up to the G-7 meeting.

However, the seriousness of the capital moves underway were underscored by the swiftness with which a “scandal” was trumped up and ready to go at the IRS with headlines on Monday morning, the leadership was out on Wednesday, and a new acting from OMB in at the IRS on Thursday. Wonder who the new Commissioner will be? That is being sorted out now. It will be someone masterful at legal warfare – “lawfare.”

A serious attack on the offshore havens, sufficient to direct $20-30 trillion in the direction that the G-7 wish it to go will also require the right kind of leadership at DOJ. Yes, Holder is certainly willing to play ball – he has done a perfectly adequate job supplying guns to the Mexican drug cartels and beating up on the Swiss. However, someone with international experience who is a lot meaner and trusted in certain Congressional quarters is preferred. After all, asserting jurisdiction over $32 trillion is one amazing squabble.

Remember, whatever equity markets get that capital will have their P/E’s head up, which means they can go buy up everyone whose stock is trading in the markets that don’t get the capital. Backed by the capital accessed through the financial coup d’etat, think of the acquisition binge that is coming.

And of course, there will be more taxes to keep government operations and corporate profits rolling. And the central banks will get some relief. The ballooning of their balance sheets has become more than uncomfortable.

So expect the drums to pound on about AP Reporters and various trumped up malfeasance until Holder is out. Holder has targeted others in this way for Mr. Global. Now it is his turn to head into the dog house.

We could see the seriousness of the new capital drive – both in what rolled out this week in Washington and the speed at which it rolled out. There is far more underway than just the targeting of tax havens.

Time Magazine published a trial balloon saying that the federal government will require mandatory retirement accounts. If true, this is surely good for billions more into the securities markets over the next decade (More Here). I would say trillions, but the middle class and small businesses that will fund it are already going to be squeezed trying to fund Obamacare.

Then the House passed a bill requiring the SEC to promulgate the regulations for the JOBs Act by October 31st. Mark my word, crowdfunding envisioned by the JOBs Act will be designed to kickstart a new bull in the US equity markets, just like first time homebuyers kickstart the housing market. No doubt, lots of entreprenuers funded with crowdfunding may pay off their student loans and buy their first home as well (More Here).

Then Google announced we could all e-mail money from your Google wallet by simply clicking the dollar sign in our gmail. (More Here) Imagine what this functionality could do for crowdfunding portals. Add entrainment technology, and the estimate of $3 billion in crowdfunding flows in the first year (More Here) will be way too conservative.

If a serious attack on the tax havens is in the works, the moves of capital will be unprecedented. The question of global uninsured deposits could be an ongoing drama – perhaps explaining the enormous shifts of precious metals out of the ETFs and the improvement in the real estate markets. Someone is looking to get out of insecure bank deposits and into tangibles. However, imagine what could happen if numerous jurisdictions are forced to sell their precious metals the way that Cyprus was. We are now in a world where all asset classes can take turns in the dog house – and they can do so at lightening speed with little warning.

The G-7 is extending and tightening up their jurisdiction. They are planning very significant shifts. This is BIG.

Let’s see what unfolds this coming week. As I did last week, I will focus on these events in Money & Markets on Thursday’s Solari Report.

ENDS

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Pitch Perfect

Among his other blessings, Pope Francis has been a gift to the world of marketing studies. There can be few other examples where a leader has transformed the perception of an enterprise so thoroughly, but without making any discernible change to its core principles. More>>

ALSO:

US Politics: The Democrats Try To Engage With America (Again)

Venues are being rebooked to accommodate the thousands of people coming to listen to Vermont Senator, avowed socialist, and presidential aspirant Bernie Sanders talk about the redistribution of wealth. More>>

ALSO:

Gordon Campbell: On The Deal Over Iran’s Phantom Nukes (And Nuking Greece’s Future)

How could Iran continue to be expected to do all the military heavy lifting in the battle against Islamic State, while still being economically sanctioned and isolated for the threat that Teheran allegedly poses to the region? More>>

ALSO:

Werewolf 56 Out Now: Pope, Secret Evidence, Point Break, Democrats, Pigeons

Hi and welcome to the 56th edition of Werewolf, in which our cover story this month analyses the remarkable change of global public opinion towards the Papacy that Pope Francis has wrought - especially so, given the depths of unpopularity to which the Vatican had sunk during the reign of his predecessor… More>>

ALSO:

Gordon Campbell: On The Crisis In Greece

Greece, as the cradle of democracy, is getting no brownie points for actually practicing it. The decision by the Greek government to go back to the people for a mandate for the bailout terms being proposed by the Eurozone seems entirely appropriate. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news