Treasury Department reports $1.2 TRILLION loss in 2017

Earlier this month, the United States government released its annual financial report for the year 2017.

This is something the government does every year, similar to how large companies like Apple, or Warren Buffett’s Berkshire Hathaway, publish their own annual reports.

Unlike Berkshire and Apple, though, whose financial reports typically show strong, positive results, the US government’s financial statements are a complete horror show.

Right at the beginning of the report, the government explains that it’s “net loss” for the year was an unbelievable $1.2 TRILLION.

Read that number again.

$1.2 trillion. That’s simply staggering.

It’s larger than the size of the entire Australian economy… and constitutes a loss of more than $2.2 million per minute.

This is not a conspiracy theory or irrational fantasy.

This is the Treasury Secretary of the United States of America publicly announcing that the federal government lost $1.2 trillion on page ‘i’ of its annual financial report.

What’s even more alarming is that 2017 was a great year.

There was no war. No recession. No epic financial crisis.

In his introductory letter, in fact, the Treasury Secretary proudly stated that “[t]he country enjoyed a pick-up in [economic] growth in 2017. Unemployment is at its lowest level since February 2001, consumer and business confidence are at two-decade highs, and inflation is low and stable.”

In short, everything was awesome in 2017.

Even the government’s overall revenue was a record high $3.3 trillion for the year.

Yet despite all that good news… despite all those positive developments and record revenue… they STILL managed to lose $1.2 trillion.

If the government loses $1.2 trillion in a GOOD year, how much do you think they’ll lose in a BAD year? How much will they lose when they actually do have a recession to fight? Or another war. Or a major banking crisis?

More importantly, how long can something so unsustainable possibly last?

But the fun doesn’t stop here.

Further in the report, the government reviews its own assets and liabilities… effectively calculating its “net worth”.

It’s just like how an individual might calculate his/her own net worth– you add up the value of your assets, like your home, car, and bank account balances. Then subtract liabilities like mortgage and credit card debt.

The end result is your net worth. And hopefully it’s positive.

The government’s is hopelessly negative: MINUS $20.4 trillion. (See page 55 of the report.)

And that’s worse than its result from the previous year’s MINUS $19.3 trillion– meaning that the government’s net worth decreased by about 6% year over year.

To be clear, a net worth of negative $20.4 trillion means that the government added up the values of ALL of its assets. Every tank. Every aircraft carrier. Every acre of land. Every penny in the bank.

And then subtracted its enormous liabilities, like the national debt.

The difference is negative $20.4 trillion, i.e. the government has far MORE liabilities than it has assets.

If the government were a business, it would have gone bankrupt long, long ago.

On top of that, though, the government separately calculated its long-term liabilities from Social Security and Medicare.

As we frequently discuss, both Social Security and Medicare are running out of money.

And according to the government’s own calculations (on page 58), the “total present value of future expenditures in excess of future revenue” for Social Security and Medicare is MINUS $49 TRILLION.

Essentially this means that the two largest and most important pension and healthcare programs in the United States are insolvent by nearly $50 trillion.

Altogether, the government is in the red by almost $70 trillion.

It’s remarkable that this is not front page news.

There has not been a single utterance from mainstream media about the pitiful, dangerously unsustainable finances of the federal government.

I’m certainly not suggesting that the sky is falling, or that there’s some imminent disaster that will strike tomorrow morning.

But any rational person needs only look to the pages of history to find dozens of examples of once dominant powers who were crippled by their excessive debts.

It may take several years to feel the full impact. But it would be utterly foolish to believe that this time is different.

To your freedom,

Signature

Simon Black,
Founder, SovereignMan.com

Please follow and like us:

Other articles of interest:

Russia Tests Nuclear-Capable Drone Sub Unmanned underwater vehicle a strategic threat. Russia conducted a test of a revolutionary nuclear-capable drone submarine that poses a major strat...
An FBI-Investigated Islamist Takes Over the Vermont Democrats Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam Vermont Democrats have so...
Clif High-Chaos Starts Middle of March Internet data mining expert Clif High says his latest research shows the mainstream legacy media is fearful. High predicts “1/3 of our broadcast media...
Are the US Navy Carrier Fleets Obsolete? https://www.youtube.com/watch?v=-2ZC8wyp44w
The Soros Subversion Machine on a Platter Most policy experts know billionaire George Soros wields mighty influence. Even everyday citizens hear his name and associate it with control and powe...

Zuckerberg Protein Shakes and the Coming Surveillance State: Mark of the beast System

Car companies are preparing to sell driver data to the highest bidder https://arstechnica.com/cars/2018/02/…

CERN to Transport Antimatter in a Van to Study Neutron Stars https://www.extremetech.com/extreme/2…

Intel hid security flaws from U.S. officials until they were leaked https://globalnews.ca/news/4041986/in…

SpaceX successfully launches Falcon 9 carrying Starlink demo satellites https://techcrunch.com/2018/02/22/spa…

Serious quantum computers are finally here. What are we going to do with them? https://www.technologyreview.com/s/61…

China’s Xinjiang surveillance is the dystopian future nobody wants https://www.engadget.com/2018/02/22/c…

China is building the world’s largest facility for robot ship research https://www.popsci.com/china-world-la…

Airbus’ ‘flying taxi’ isn’t much to look at, but it’s a major step toward electric flight https://www.theverge.com/2018/2/22/17…

Kingdom Come developer promises changes to game’s controversial save system https://www.polygon.com/2018/2/19/170…

The best Kingdom Come: Deliverance mods (so far) https://www.pcgamer.com/best-kingdom-…

Hunt: Showdown | Early Access Launch trailer https://youtu.be/1r4JpEly21E

Konami Warns Users that Metal Gear Survive is Not a Dating Service http://www.playstationlifestyle.net/2…

Super Mario Odyssey’s first DLC is now available — time for a Luigi balloon hunt (update) https://www.polygon.com/2018/1/11/168…

Sometimes You Need To Take a Step Back In Order To Take Two Steps Forward https://www.kickstarter.com/projects/…

Video games, not guns, to blame for school shooting, says Kentucky gov. https://arstechnica.com/gaming/2018/0…

Pokémon Switch Generation 8 Starter Pokémon Reportedly Leaked http://gearnuke.com/pokemon-switch-ge…

Please follow and like us:

Other articles of interest:

New type of Chemtrails Smell Like Static Electricity, Metallic, Like a Hospital: Take Note Earlier this year, we reported on our observed escalation of geoengineering or chemtrail spraying in California, South Carolina, and all over the US. ...
America’s Water Is Being Poisoned-Bottled and Tap Water Are Deadly The American infrastructure is crumbling, it is not secret and has never been a secret for a generation. As a case in point, do you remember when the ...
5 Seeds That Help You Live Longer and why taking them TOGETHER can fight off some of the worst symptoms of aging. 5 COMMON ISSUES ASSOCATED WITH AGING Digestive...
Secrets (Volume 254) Jerry Barrett hosts and brings forth eye-opening secrets and facts so often covered up by the mass media: (1) Two more survivors of the Las Vegas s...
GEORGE SOROS SHORTED MGM SHARES, MGM CEO SOLD 80% OF HIS MGM SHARES WEEKS BEFORE VEGAS MASSACRE On Tuesday, September 5th, 2017,  the board of MGM Resorts International decided to approve a $1 billion share repurchase program. At a net worth ...

Parkland Story Busted With Banned Videos!

Parkland Shooting Falls Apart! Evil Google Censors! from Truth Warriors on Vimeo.

NOTE: Evil Google targeted me and banned my 4th Youtube channel! To fight this treason,  make sure you join my Newsletter and get my free ebook on curing ALL diseases called Suppressed Health Secrets!  It’s the ONLY way I can reach you always!  We will destroy the fake news scum and the Devil’s search engine together!  Prizes for truth warriors so get on my list now!  Let’s do this together! 

Post this article and video everywhere and tweet to Trump at @potus and @realdonaldtrump and nobody will believe the fake news anymore when it comes to the Parkland High School shooting!   This ends their lies!  Tell all your friends to share it too!  This is WAR!  We need everybody to join in for the WIN!  Google dropped their cute mask and it’s on like Donkey Kong!  Fire everything you got and wake up everybody to Google’s evil and the fake news!  Only evil needs to censor and lie.  The truth always wins in the end!

I’ve compiled the video clips that evil Google is banning off Youtube as fast as they can find them!  These videos all contain eyewitness testimony that prove the Parkland High School shooting did not happen as they told us!  This video couldn’t exist on Youtube anymore!  They are purging the youtube accounts of all patriots.   They purged me and many others!  So let’s destroy forever their fairy tale that Nikolas Cruz shot up the school and let’s expose their Sandy Hook Hoax!  These videos prove 100% this is a lie!  The fake news and Google is FREAKING!  I love it!

Now we have the teacher who saw the shooter and they were dressed in full SWAT gear!  Helmet, bulletproof vest the entire SWAT outfit!   Did Cruz have the SWAT gear on in the Uber?  No, he did not!  Did he put it on as he walked to the door where he opened up fire?  No, he did not!  Not one report of this either.  It takes a while to do this and the official fairytale said the shooting started 2 minutes after he arrived in the Uber!  Of course the “authorities” won’t release the video but want you to believe their lies as usual.  Well we’re not buying ANY of it!  We have many students in this video proving they had an active shooter drill on this day.  That alone proves it was inside job since it’s impossible for a real shooting to break out on the same day as an active shooter drill unless it was an inside job!  That’s why when a few of these people talked about the school doing an active shooter drill those interviews disappeared forever or were never shown on the Fake News again!  You never heard from those students again!  That’s why we must wake up everybody now!  No new gun regulations!  It never ends once you give an inch.  FBI let this happen as usual to take our guns!  Fake News went with the Fairy Tale as they did on 9/11!

I believe there was at least one black ops shooter who killed all the kids at the same time they lured Nikolas Cruz to the school.  They could have easily lured him with the texts from a pretty girl who told him to meet her after her class or something.  Once he got to the school the real black ops shooter(s) shoot up the school and that’s why the one witness says she was standing right next to Nikolas when she heard the shots!  They probably screwed up because most of the time the shooters always die.  Then maybe those 4 cops hauling out a huge and heavy black bag needs to be considered.  I think this was the guns the black ops guy used to shoot up the school plus any other evidence they needed to do away with before they opened up the crime scene.  Looks VERY fishy on video.  They would carry out their own guns!  They wouldn’t haul out evidence out the back door and throw it in a truck and run away fast.

I think the plan messed up and Cruz got away somehow but once they captured him, they probably gave him the MK Ultra drug cocktail and he confesses the next day.  Witnesses said he looked like he was drugged out of his mind!  It’s very easy to give somebody the drug Scopolamine and make them do anything!   All they had to do is drug him all night and use the MK Ultra technology on him so he confessed in court the next morning.  After that, it’s over!  They got their patsy and the fake news takes care of the rest.  They don’t do any investigating and bury anything that doesn’t fit the fairytale.

Here’s Wolfgang Halbig telling about how he’s been talking on the phone with some of the kids from Sandy Hook who they told us DIED!   It was a HOAX!  He’s proven it when one of the scumbag fake parents pulled out of a civil lawsuit when Wolfgang put him in deposition!  He ran like a little coward when he was going to be forced to tell the truth on tape!   Now these kids are graduating from high school and want truth out!  He talks about it on this program!  Alex Jones still covering this up and refuses to have Wolfgang on his program with evidence that would literally BLOW up the death star!   Unbelievable that Alex still refuses to have Wolfgang on his program after thousands BEGGED him to let Wolfgang tell his story!  I guess somebody is paying Alex very well to keep the Sandy Hook fairy tale going!  Nobody but a traitor wouldn’t let Wolfgang get out the truth!  If I was Alex, I’d be given Wolfgang a million dollars to throw these guys in court!

Sandy Hook Bombshell! Wolfgang Halbig, Jim Fetzer from Truth Warriors on Vimeo.

Even Jake Tapper appears to have done a 180 degree turn and instead of hammering on taking our guns actually fried this scumbag Sheriff, Scott Israel for 30 minutes!  You’ve got to see this interview!  I couldn’t believe what I was seeing when Tom Heneghan told me about it!   It’s like Jake Tapper had a “Come to Jesus” meeting or something!   Tapper almost passes for a human being not after our guns in this interview!  Amazing!

 

Please follow and like us:

Other articles of interest:

Rio Olympics Opening Ceremony Ritual with Giant Vagina Birthing New Race Jonathan Kleck seems to be a roll again with another great video this time on the Rio Olympics ceremony. This expose is even reported in the Main ...
Gambler: Large portions of Cosmopolitan and Bellagio casinos were sectioned off with black curtains ... Cosmopolitan of Las Vegas A man who gambled inside the Cosmopolitan and Bellagio the day after the October 1 massacre...
Russian Lessons Learned From the Battles For Grozny Grozny 1 (January 1995, an eventual Russian victory) The Russian Army invaded Chechnya in December 1994, and immediately moved on Grozny, encircling ...
Sanskrit Secret Cures Cancer!   In the video above, Kerry Lyn Carter tells an amazing story of curing her cancer with something 100% natural!  Her entir...
Pizzagate: Normalizing Pedophilia: Pope Removes Penalties for Priests Who Molest Children Inch by inch it is a cinch.  Incrementalism is how the globalists get things done, and child-sex-trafficking is not any different. Don’t forget tha...

DEFAULT IS INEVITABLE | Michael Pento

“Debt levels have reached a point where they have to be defaulted upon,” Michael Pento of Pento Portfolio Strategies tells Silver Doctors.

Michael Pento of Pento Portfolio Strategies interviewed by Silver Doctors

The rate of the 10-year Treasury is at a four year high nearing three percent. Pento forecasts it will rise to four percent, which will be a “floor rather than a ceiling.If the rate rises to four percent, people will have lost about 25 percent from a “risk free” asset since July 2016.

The top is in for the stock market, Pento says. As rates continue to rise, look out for a bankruptcies, layoffs, and a stock crash.

Please follow and like us:

Other articles of interest:

Young Lady Becomes Demonically Possessed in ‘The New Fragrance’ Commercial! KENZO World’s ‘The New Fragrance’ advertisement shows us how deep the satanic elite have saturated our culture with their occult rituals. They are not...
Judge Roy Moore: We Removed God from Schools, Shootings and Death Filled the Void CNN is lamenting the fact that GOP frontrunner for the U.S. Senate in Alabama Judge Roy Moore told pastors and Christians in a speech last month tha...
Trump Takes All Assets of Obama/Clinton BPEarthWatch DEEP STATE TAKE DOWN. The Corrupt money has become their End. https://www.whitehouse.gov/presidenti…   ...
HILLARY WILL BRING US WW3 Hillary Clinton is Rothschild's pick for President and according to Harley Schlanger, Clinton will take the United States in the same direction as Oba...
Madame President Clinton’s Coming War on the Blogosphere, and Your Countermeasures Now that Hillary (“Hitlery”) Rodham Clinton (HRC) has received the Democratic Party nomination for president, there is a strong likelihood that she wi...

Google’s Evil Plan Leaked! It’s Treason!

NOTE: Evil Google targeted me and banned my 4th Youtube channel just as the insiders say they are doing! To fight this treason,  make sure you join my Newsletter and get my free ebook on curing ALL diseases called Suppressed Health Secrets!  It’s the ONLY way I can reach you always!  We will destroy the fake news scum and the Devil’s search engine together!  Prizes for truth warriors so get on my list now!  Let’s do this together!

Youtube Insider Leaks Google Master Plan! TREASON! from Truth Warriors on Vimeo.

In what will go down in history, a Patriot Youtube insider just leaked Google’s evil plans!  It’s BAD, REAL BAD!   It’s a hellish world where conservatives are unmasked based on the conservative sites they visit and the videos they watch.  The patriots are then setup to be attacked by leftist scum!   This needs to go viral right now!   People at Google can be convicted of treason right now because they are actually overthrowing our government and our constitution and we can prove it!  Google is directly spitting on the Constitution while helping to destroy and even kill patriots it seems by this insider!

The plan outlined below is already in action!  It’s absolute TREASON because they are targeting patriots by monitoring the websites they visit and then handing the information over to leftist communist ObamaFraud scum who then begin to destroy people who are conservative!  Oh, but they think they’re being nice about it because FIRST they try to “re-educate” you by suggesting propaganda videos from the Fake News.  Only if you fail to turn from your wicked conservative ways do they turn you over to the goon squad to loot your bank accounts, steal your property, car crash you, inflate your phone bill and so much more!  This is the shocking information listed below!   Spread the word about Google’s evil plan!  Send to Donald Trump @potus and @realdonaldtrump, post to Facebook, Twitter and your own email lists!   If you use Google, you are feeding the beast so do everything possible to expose and hurt this beast because they are hurting us and it’s intensifying!

We have them caught red handed!  This post was made right before my Youtube channel and many others were taken down in the great Youtube Purge on Thursday!  Tweet this to President Trump @potus and @realdonaldtrump so we can get a real independent investigation by patriots going and drag these demons before Congress!   Marines need to storm Google’s headquarters right now!  Never have patriots been so directly targeted as evil Google is doing right now!  They are now even banning NRA videos!   Google needs to be prosecuted and sued to the moon over this and executives need to be led out the building in handcuffs!   The enemy is not only inside the gates but Congress is taking their money to keep this treason going without a word!  I’m outraged!  I hope you are too and will share this more than any other article you’ve shared before!  God bless you and God bless the United States of America!

Source:

https://www.reddit.com/r/conspiracy/comments/7zqria/i_posted_a_4cha…

Here are two videos Google doesn’t want you to see or hear!  Get them out!  Wolfgang Halbig talking to the “dead” Sandy Hook kids!  Huge info here censored by Alex Jones!

Sandy Hook Bombshell! Wolfgang Halbig, Jim Fetzer from Truth Warriors on Vimeo.

This video gave me my 2nd Strike and is driving Evil Google NUTS!  Get it out!  

Parkland Actor Exposed – Youtube Gave Me a Strike For This! from Truth Warriors on Vimeo.

Cool Products Of The Day!

Help support our ministry at Project.Nsearch.com by visiting our sponsors!  Thank you!

Please follow and like us:

Other articles of interest:

The Rothschild Syria Connection – Major Revelations VIDEO: Latest Blackstone Intel from inside Iraq/Syria. Plus… stunning details about the Rothschild connections to the White House.      ...
5 Everyday Items That Will Double as Defensive Weapons So, ReadyNutrition Readers, in another article we presented some everyday items normally carried that can be converted into defensive weapons.  Let’s ...
WW3: ‘Nuclear War At Any Moment’ As US Responds With War Drills Kim Jong-Un’s most recent missile launch sparked fears of a third world war. Responding directly to that missile launch, the United States has...
Thinking of Going Off Grid or Homesteading? Taking Smaller Steps Could Ease Your Transition. While some still think that off grid living and homesteading are just “fads” or “trends”, many others know better. If you want to call it a trend, the...
FED Will panic soon and Gold prices will soar https://www.youtube.com/watch?v=55RXWnjUIeo

South Africa’s brand new president wants to confiscate land from white farmers

If you’ve been following much international news, you’ve probably heard that, after literally years of scandal, abuse, and incompetence, South Africa’s president Jacob Zuma was finally forced to resign last week.

This is a big deal for South Africa.

The country has been suffering for nearly a decade under Zuma’s corruption.

And people are certainly hoping that the new President, Cyril Ramaphosa, will represent a positive, new chapter for South Africa.

Yesterday Ramaphosa addressed the nation’s parliament in Cape Town and made clear that his priority is to heal the divisions and injustice of the past, going all the way back to the original European colonists in the 1600s taking land from the indigenous tribes.

Ramaphosa called this “original sin”, and stated that he wants to see “the return of the land to the people from whom it was taken… to heal the divisions of the past.”

How does he plan on doing that?

Confiscation. Specifically– confiscation without compensation.

The expropriation of land without compensation is envisaged as one of the measures that we will use to accelerate redistribution of land to black South Africans.

Ramaphosa minced no words: he’s talking about taking land from white farmers and giving it to black South Africans.

Astonishingly, he followed up that statement by saying, “We will handle it in a way that is not going to damage our economy. . .”

Wow, what a relief. For a minute it sounded like South Africa wants to do what Zimbabwe did several years ago.

Oh wait a minute.

That’s exactly what Zimbabwe did.

Seeking to correct similar colonial and Apartheid-era injustices in his country, Zimbabwe’s president Robert Mugabe initiated a land redistribution program in 1999-2000.

Thousands of white-owned farms were confiscated by the government, and the farmers were forced out.

Bear in mind that Zimbabwe used to be known as the breadbasket of southern Africa. Zimbabwe’s world-class farmers were major food exporters to the rest of the region.

But within a few years of Mugabe’s land distribution, food production plummeted.

Without its professional, experienced farmers, the nation went from being an agricultural export powerhouse to having to rely on handouts from the United Nations’ World Food Programme.

Hyperinflation and a multi-decade depression followed.

If there’s an economic model in the world that you DON’T want to follow, it’s Zimbabwe.

And you’d think that the politicians in neighboring South Africa would know that.

They had a front-row seat to the effects of Mugabe’s land redistribution, not to mention they had to absorb millions of starving Zimbabwean refugees who came across their borders.

Yet this is precisely the policy that they want to adopt.

However you might feel about social justice, it seems pretty clear that copying Zimbabwe is a pretty stupid idea… and will only end up hurting the people they claim to be helping.

Yet the president claims that they want to initiate a land redistribution program that won’t impact the economy or South Africa’s food security.

Yeah sure. And I want to be the starting quarterback of the Dallas Cowboys next season.

But sadly you won’t see Simon Black throwing any touchdown passes anytime soon.

That’s because we have to live in a world with certain realities and limitations.

One of those realities is that land distribution, even if you believe the intentions to be noble, never works.

And of course, the most important reality is that anyone who willfully chooses to copy Zimbabwe’s economic model deserves to suffer the consequences of their stupidity.

[You can watch his remarks yourself here: the fun starts around 30:45]

To your freedom,

Signature

Simon Black,
Founder, SovereignMan.com

Please follow and like us:

Other articles of interest:

Tucker & Mark Steyn Decry The Vegas Incident:After 40 Minutes Of Explanation We Still Know Noth... Tucker & Mark Steyn Decry The Vegas Incident:After 40 Minutes Of Explanation We Still Know Nothing! https://www.youtube.com/watch?v=L3iAbEqIdsc
For West Coast, nuclear Hanford threat dwarfs Fukushima There is a dangerous radiological threat to the West Coast of the United States that puts the health of millions of Americans at risk. It includes dan...
Bombshell! Russians Locate Secret Nazi Chest With Strange Alien Skulls Inside (Wow Video) The Nazi’s were in cahoots with aliens?? It’s a story from conspiracy theory heaven – a briefcase with the insignia of a sinister Nazi organisation...
Alzheimer’s and Aluminum in Brain Tissue – True Link Found by Scientist We’re living in the “Age of Aluminum” according to Chris Exley, PhD of England. Do you associate aluminum exposure with Alzheimer’s disease? Despite t...
Deep State Does Vegas SOTN has produced an extremely important “Special Report” on the Las Vegas Terrorist Attack. The critical information/data contained in this report...

PUTIN’S RUSSIA TARGETS FIRST OFFENDER PEDOPHILES WITH LIFE IN PRISON!

Kim Dotcom has actionable information about Seth Rich and Wikileaks, but Robert Mueller doesn’t want to hear it, choosing instead to turn his farcical “investigation” in the direction of Jared Kushner.

Meanwhile, Hillary Clinton and her cronies continue to walk free despite being implicated by Qanon to be allegedly involved in the murders of both Seth Rich and Supreme Court Justice Scalia.

And as the FBI continues to reveal itself to be nothing more than a tool of the shadow government, Putin’s Russia targets #Pedogate and pedophiles with a tough new law which will put even first time offenders behind bars for LIFE.

Please follow and like us:

Other articles of interest:

ATTACK UPON SYRIA IN PROGRESS Thirteen and a half hours ago, at 9:07 PM eastern time on Saturday night, I warned my Subscribers that a Chlorine Gas attack had allegedly taken place...
Obama’s 3 Head Scars and Hillary’s 9/11 Seizure Explained: The Beast Has Its Head Wounde... Time is up. A beast described in Revelation 13 is here. His number is 666. Please believe Jesus of Nazareth as Messiah and repent of sin. What was ...
Las Vegas Shooting Was a CIA Operation – Part 1 – The Amerithrax False Flag A comparison of the Las Vegas shooting false flag with the CIA amerithrax false flag of 2001.  
A Very Strong Warning Directly From YHVH – Extremely Important-Pay Attention! This is a very powerful, strong word of warning to the people which God gave to me the other day. I have prayed over this fervently before sharing it ...
This TRUTH Could SAVE YOUR LIFE! ‘But God chose the foolish things of the world to shame the wise; God chose the weak things of the world to shame the strong. 28He chose the lowly...

Meet the Italian government’s Orwellian new automated tax snitch

By the end of the 3rd century AD, the finances of ancient Rome were in terminal crisis.

Years and years of debasing the currency had resulted in severe hyperinflation– a period of Roman history known as the Crisis of the Third Century (from AD 235 through AD 284).

During the time of Julius Caesar, for example, the Roman silver denarius coin was nearly 98% pure silver.

Two centuries later in the mid-100s AD, the silver content had fallen to 83.5%.

Image result for evading taxes

And by the late 200s AD, the silver content in the denarius was just 5%.

As the money continued to be devalued, prices across the Empire skyrocketed.

Wheat, for example, rose in price by over 4,000% during the first three decades of the third century.

Rome was on the brink of collapse. And when Emperor Diocletian came to power at the end of the third century, he tried to stabilize the economy with his ill-fated Edict on Wages and Prices.

Diocletian’s infamous decree fixed the price of everything in the Empire. Food. Lumber. Salaries. Everything.

And anyone caught violating the prices set forth in his edict would be put to death.

Another one of Diocletian’s major policies was reforming the Roman tax system.

He mandated widespread census reports to determine precisely how much wealth and property each citizen had.

They counted every parcel of land, every piece of livestock, every bushel of wheat, and demanded from the population increasing amounts of tribute.

And anyone found violating this debilitating tax policy was punished with– you guessed it– the death penalty.

Needless to say, Diocletian’s reforms didn’t work.

Every high school economics student knows that wage and price controls don’t work… and that excessive taxation bankrupts the population.

But that doesn’t stop governments from trying the same tactics over and over again.

Fast forward about seventeen centuries and Italy is once again in the same boat.

The Italian government is one of the most bankrupt in the world; its debt level is an unbelievable 132% of GDP– and rising.

In other words, the Italian government’s debt is substantially larger than the value of the entire Italian economy.

It’s almost as bad as Greece, and it grows worse each year as the national government routinely runs budget deficits.

Their only solution, of course, is hiking taxes and increasing regulation… exactly the opposite of what they should be doing.

And, just like the ancient Romans, the government is on a witch hunt for anyone they think (in their sole discretion) might be dodging taxes.

They already have a system in place called the redditometro, an automated tool for the tax authorities to comb through income and expense records of Italian residents.

The algorithm finds anyone whose expenses were higher than his/her income and presumes that s/he has been evading taxes.

The irony here is pretty profound given that the Italian government itself has expenses that are higher than its income.

After all, that’s how it ended up with such a prodigious debt level.

Earlier this month, however, the Italian tax authorities rolled out a brand new tool called risparmiometro. And this one is really insidious.

Risparmiometro goes through ALL financial records– credit card transactions, bank accounts, investment accounts, etc. to determine whether or not someone has too much savings relative to his/her occuption.

Think of the implication.

Under the redditometro system, if you spend too much money, they think you’re evading taxes.

But under the risparmiometro system, if you save too much money, they think you’re evading taxes.

Unbelievable.

But it gets better.

Risparmiometro (the new tool) also looks at bank activity to see how frequently you’re using the account.

And if you’re not using the account frequently enough, the government assumes that it’s because you’re dealing in cash… and evading taxes.

I have no doubt that there’s a substantial amount of tax evasion in Italy.

I spend several weeks in the country every summer, and I see how much people and businesses are suffering.

And they’re definitely coming up with creative ways to survive.

But rather than take the necessary steps to liberate the economy, the government continues to double down on more taxes and more regulation… and then invest their remaining energy to develop new tools to spy on their citizens.

Two key points here:

1) Nearly ALL bankrupt governments invariably resort to this tactic at some point.

2) It’s also a great way to engineer a banking crisis.

Think about it– Italy’s banks are already teetering on collapse. Some have already failed, others are almost there.

If Italians know that the government is spying on every transaction they make (or don’t make), who in his/her right mind would want to keep money in an Italian bank?

Anyone with half a brain will be moving funds to Switzerland or Austria.

Italy’s banks are so fragile, though, that they won’t be able to survive if even a small percentage of their depositors flee.

So as the Italian government rolls out this new tool in the latest campaign of its tax jihad, they’re all but guaranteeing widespread bank failure.

It’s genius.

To your freedom,

Signature

Simon Black,
Founder, SovereignMan.com

Please follow and like us:

Other articles of interest:

Neil deGrasse Tyson Seems Skeptical of Elon Musk’s Mars Plans Renowned astrophysicist Neil deGrasse Tyson is a little wary of Elon Musk’s ability to send humans to Mars, but he does like what he’s seeing from...
DPRK Says Nuke Launch at US “Inevitable” Pyongyang claimed on Saturday that launching ballistic missiles toward the US is "inevitable all the more" due to US President Donald Trump's la...
The Mark of the Beast Recently, I concluded and wrote about in a previous article, that the present conflict with North Korea, Syria and ultimately Iran has everything thin...
Space Is Water NASA Caught Lying Once Again About Flat Earth and Beyond Once again more lies from NASA and once again citizen journalists uncover the truth. The Vacuum of Space will boil water and the Van Allen Radiati...
BARGAIN: Putin offers Russian passports TO ALL Part 3 of the 2018 Direct Line with President Putin. Part 1 and 2 can be found by following the links. Did you know, that most people living in Rus...

Extinction Level – AS IN THE DAYS OF NOAH- Steve Quayle and Tom Horn

Please follow and like us:

Other articles of interest:

Supreme Court Scraps Obama’s Tranny Bathroom Policy The Supreme Court stepped away from an Obama administration policy allowing public school students to use whatever bathroom fits their self-described ...
Media find Las Vegas shooter’s motive: he’s white! If the media are going to keep wailing about how vital a free press is, could they start reporting stuff? There’s a remarkable number of dangling...
Janet Yellen’s Husband: Statist Financial Market Nanny State Advocate TND Editor’s Note:  We all know average people are too stupid to be rational economic actors, right?  Big government and a captured crony capitalist m...
Russian engineers prepare to lift 2nd colossal Crimea Bridge arch (VIDEOS) An extraordinary engineering operation is underway to erect the 5,500-ton roadway arch that will connect the Kerch Peninsula of Crimea and the Taman...
Vatican Bombshell: This Information Will Change Humanity If you have never had a supernatural experience in your life, get ready to have your mind blown! This video recaps the most profound and conclusive...

After the Angels fell – Before the Demons Came: The Silver Age of History

Published on Jan 29, 2018

Part 1 / Before Fallen Angels and Demons: The Golden Age of History – https://youtu.be/3ZsJNm96eYA

Part 2 / Before Fallen Angels and Demons: Why some of the angels fell??? – https://youtu.be/Km3lek8ICWw

Please follow and like us:

Other articles of interest:

Dow Jones Correction And Crash Levels: A Chart All Investors Must See by Steve St Angelo of SRSrocco Report As the Dow Jones Index continues to drop like a rock, the worst is yet to come.  Today, investors once again ...
The Deep State’s Attempt To Suppress India’s Gold Demand The primary objective of the Indian currency demonetization was to sharply reduce gold demand in the world’s most important retail market, India, one ...
Betrayal! The pervasive & defining crime of our age Let me apologize in advance for what may be an upsetting piece of writing for some of you. If you're in a state of shock or exhaustion from recent...
Russia works on MiG-41 doomsday fighter jet The new MiG-41 fighter jet, which is being developed in Russia, is likely to be put to test in 2020. At the same time, the MiG-31 interceptor aircra...
Incredible Way to Grow Potatoes Do you have limited space to grow so you figure you must limit yourself to herbs and the like? “Blazing a path to natural health and wellness. Get nat...