Archive | February, 2013

Gold at N.Y. Fed is intact, some purer than thought, audit finds

23 Feb


You may have recently read stories like this one in the LA Times, that the U.S. government’s officially declared gold holdings are ‘alive and well’ and living in the vaults of the New York Fed.

Well, if you also believe that western governments tell the truth, the whole truth, and nothing but the truth, at all times, then you’re probably quite happy to go on believing such ‘stories’. However, if you’re a tiny bit more sceptical about the believability of government press officers, you might want to listen to this analysis by James Turk, instead.

He believes this latest U.S. gold story is a complete fabrication from beginning to end and is far more interesting for what it leaves out than for what it puts in, such as the complete vacuum of information about Fort Knox, Denver, and West Point, the repositories which allegedly store 95% of the U.S. government’s gold. He also wonders why the U.S. Treasury put the initial story out as a ‘report’, and why the press then turned it into an ‘audit’, adding fancy details of their own, such as the ‘data’ on drilling samples.

As George Smiley from Tinker, Tailor, Soldier, Spy might have once said, ‘whoever told them to do that?’

Of course, I think this story was actually a good thing. Perhaps by design, it triggered a temporary crash in the gold price. This was excellent news, as it enabled me to buy even more gold this month, than I was expecting to purchase.

So thank you government press officer, whoever you were. For once, you did me some good.

Book Review: Street Smarts, by Jim Rogers

22 Feb


In China, eight is the lucky number. The Mandarin symbol for eight is a pictogram representing a side of meat being sliced in two, in infinite progression. This forms the symbolism of multiplication and increase, in the same mythological way that the biblical story of Noah represents multiplication and increase, two by two by two, giving us this same powerful, capitalistic, and mystical number of eight.


For where chapters one to seven of Jim Rogers’s new book, Street Smarts, are a wonderful how-to-get-rich and rags-to-riches story of his life so far – including a description of his wedding in Henley-on-Thames, a town where I also got married – he really pulls out the economic meat cleaver in Chapter Eight. He begins to lay it, at first, into Alan Greenspan, and then rolls up his sleeves before setting to work with Ben Bernanke, Timothy Geithner, and Uncle Tom Cobley and all, with a fiendish delight which had your author calling for more Pinot Noir to appreciate the greater subtleties of the author’s carefully-crafted words.

Chapter Eight is thus a joyous chapter to read as this maestro of real-world global investment lifts the withered fools-gold slab of Keynesianism and exposes the insectoid Krugmanite creatures below to a well-deserved blow-torch of common sense, slaking them in a coruscating fire of simple concise words, well chosen, and written in the flowing liquid style of a master wordsmith craftsman.

For Jim Rogers is far more than than meets the eye on financial news interviews. Wherever he’s been, in whichever geological strata of life he has found himself, he has risen inexorably, like a molten volcanic stream of gold, improbably filled with diamonds, to the very surface of that strata. And that includes the rare earth mineral layer of superlative writers and teachers.

Fortunately, even by the close of his pivotal Chapter Eight, Rogers is far from finished. For the wonderful and refreshing pummeling continues apace in Chapter Nine, which ends with the Frank Borman quote, “Capitalism without bankruptcy is like Christianity without hell,” a hearty tagline I’m sure the illustrious Joseph Schumpeter would have appreciated.

And so the unwinding story of Jim Rogers and the entertaining dance of his thoughts continues onward towards distant future prospects, until the unwanted end of the book in which I was left pleading with the author for more. Alas, for the world’s hard-core band of dedicated Misesians, the horse-frightening words of ’Rothbard’ and ’Mises’ fail to show up in any part of the book. However, you can still feel their willing paired ghosts standing in the shadows throughout the entire manuscript, urging Rogers forwards in his clinical evisceration of America’s supine political class, which has sleepwalked Paine’s and Jefferson’s America into the socialised, regimented, and bureaucratised United States of George Walker Bush and Barack Hussein Obama.

One especially feels this Misesian support with Rothbard’s bow-tied ghost, willing on the bow-tied Rogers to land yet another skewering blow into the heart of the Washingtonian beast, which is strong-arming the United States into the same destructive chasm as the draconian Athenian empire, whose hated and once-almighty Delian league was eventually wiped from the ancient classical map by the lowly and simplistic Sparta (metaphorically, read China).

Bring the troops home, let bankrupt companies fail, shrink the state, bring back liberty. These are the heartfelt messages of Rogers. Truth, wealth, and freedom thus abound in the pages of this wonderful book.

And these are messages Austrians everywhere can believe in and subscribe to, as we march on the eternal road towards knowledge, harmony, and peace.

And if you’d like some excellent investment tips too, then this really is the book for you.

Buy, sell, hold?


Tax is evil

21 Feb


I’ve been busy this week doing some investment work in Doha, Qatar, and I’ve met some wonderful people along the way. At one point, I had to explain the British government’s dividend tax rates and treatments to some of them.

“What you’ve just explained on dividend tax credits is ridiculous,” said one, in perfect English.

“I know,” I said.

“It makes absolutely no sense,” said another.

“You’re telling me,” I said.

“How do you stand living in England?” said the first. “Over here we think taxation is evil.”

“I think I like Qatar,” I said. And I do.

Alas, getting hold of an official Qatari passport is perhaps one of the most difficult things in the world to achieve. However, at Euro Vigilante we are working on finding less difficult routes for you, especially gaining official passport and legal citizenship acquisition in low and zero tax territories.

Because we think tax is evil too.

Why I love the free market

16 Feb


Take a look at the photograph above. What does it say to you?

I generally take such photographs for granted, but in many ways it is remarkable.

This photo was taken at 6am this morning, at London Heathrow’s Terminal 4. And what it says to me, in a strangely half-awake contemplative mode, is an incredible story.

From my home, thirty miles away, a man brought me here in a Mercedes automobile, a product of the free market, mostly at seventy miles per hour. And here I sit in a comfortable free market lounge awaiting a comfortable seat in a free market steel tube which will transport me at five hundred miles per hour, for six hours, to a distant desert land. While I await this remarkable journey, almost unimaginable just two hundred years ago, one of these free market providers voluntarily supplies me with liquid snacks to hydrate and energise my body.

Indeed, the only less than exciting parts of this terrific experience will be those two unpleasant interfaces with government, at either end of the process, as they strive to deliniate their mafia gang turf boundaries from other tax farming gangs, with security theatre and other paper-stamping nonsense.

I shut these experiences from my mind, trying to speak as little as possible, as I pass through these deeply unpleasant interfaces.

But aside from these completely unnecessary and tedious tax farming dances, I still love travelling.

A hundred years ago, this journey would have only been for a select few, perhaps a handful of British naval or civil service officials, and would have taken weeks in a slow steam boat.

Five hundred years ago, I would have been with the explorers Drake or Magellan. Two thousand years ago, it would have been a journey beyond the edge of imagination, with perhaps one or two Romans or Greeks a year making this dangerous voyage to the Erythraean Sea.

And yet now I do it as a regular commute. And my only problem is deciding whether I want still or fizzy water.

I love the free market.

I wonder what brand of Pinot Noir they’ll have on the plane?

Stockholm syndrome alert: Six of Britain’s biggest water companies ‘use tax havens to avoid paying millions to the Treasury’

15 Feb
Stockholm Town Hall

Stockholm Town Hall

Back in those terrible days when I used to be a socialist, I too used to be ‘outraged’ about stories – such as this one in the Daily Mail – involving people avoiding the payment of tax. This was because I was in the grip of ‘Stockholm Syndrome‘, as many are, with my spiritual home being the town hall of Stockholm, Sweden.

When you live mentally within this state-owned building, you believe that all tax paid to government is somehow benefitting ‘you’ in some way. Because all that benefits the state benefits you, obviously. That every penny paid to government is a penny not just wasted, but likely to be used to make your life worse, is never contemplated. This logical conclusion is never taught in any state-owned schools by state-paid teachers running state-directed curriculums.

Of course, every person on the state payroll will usually foam at the mouth when they find out that someone within their beloved state’s declared territory is legally avoiding tax. This is because nobody on the state payroll is paying any form of tax themselves, just receiving it, in the form of salaries, pensions, and expenses. Yes, of course, they nominally pay tax, and black-and-white figures are printed on their pay-slips to indicate such nominal tax payments. Yes, even members of parliament fill in tax return forms on which some of them declare their parliamentary expenses. But just ask any of these members of parliament, or anyone else on the government payroll, what their wages, pensions, and expenses would be if nobody paid tax, and you will receive one of three responses:

  • You’ll be accused of being Satan and they will foam some more at the mouth
  • They will walk away without saying a word, unable to reply, having been thrown into a catatonic cognitive dissonance
  • A very few of the more thoughtful ones will admit that you are indeed correct, and that none of them pay any form of tax, except via accounting sleights of hand on payslips and invoices

However, for the rest of us, those who actually do pay net protection money to the state mafia, to provide them with the financial tools necessary to oppress us further with more paper laws, predations, taxes, rules, regulations – along with armed men and women to enforce them all – we should praise all of those people who safely and legally manage to avoid paying taxes.

Why? Well, these are a few of the reasons which spring to mind:

  • The average water bill in the UK is £388 pounds, per annum. This is lower than it would otherwise be if the water companies under question in the Daily Mail’s article paid higher amounts of tax. If they did pay the extra tax that the government declares they should morally pay, then our water bills would be even higher than their current outrageous rate, which is pumped up by government enfranchisement, control, and regulation of the water industry. Let us imagine that the average water bill would rise to £410 pounds, per annum. If it did, thank the Daily Mail, the organisation which brought us 70 miles an hour speed limits, which on the M4 motorway, on an average morning, very few observe, except perhaps staff members of the Daily Mail. As the government is the most immoral body in any society, an immunologically-cloaked carcinogenic parasite feeding upon its naked host – i.e. the rest of us – any claims to morality are simply to be laughed at with the derision they deserve.
  • Every penny given to any government empowers it. Therefore, every penny withheld from the government, disempowers it. The more government can be disempowered, the better. One happy future day, the British government will evaporate, with absolutely no income and an inability to borrow or to print currency which anyone else accepts. This shall be a glorious day. I do hope it comes within my lifetime.
  • Every penny earned voluntarily and saved can be used to invest in other projects, some of which will generate extra wealth in society. So where money given to government is not only wasted, but will be used to make life worse, with a 100% chance of certainty, money saved by private people has some chance of making life better, and is never wasted. Yes, I really shouldn’t have bought as many burgundy shirts as I have in my life, with my own money, but all of those purchase decisions gave me pleasure at the point of sale, and I’m sure I looked nice in one of those burgundy shirts at least once, in a dark mirror, at the back of a smoky bar. And even that vague happiness is much more than any penny of tax ever gave anyone, except perhaps for the parasites which took it and fed upon it, usually inflicting misery upon someone else in the process by enforcing some stupid regulation, arresting someone for breaking some stupid paper law, or teaching someone some drivel about socialism.

There’s three reasons. I’m sure you can think of many more. In the meantime, for those of us who applaud truth, wealth, and freedom, we should continue to applaud those who legally, safely, and successfully, manage to stay within all of the state’s stupid parasitical rules, and still manage to avoid providing the state with any extra chains to wrap the rest of us in.

Swiss gold and precious metals storage now being offered by Euro Vigilante for serious investors

14 Feb


At the Euro Vigilante, we believe everyone should own a physical precious metals portfolio to acquire and protect truth, wealth, and freedom for themselves.

So we’re now offering serious investors the possibility to acquire and safely store physically allocated gold, silver, platinum, and palladium in Switzerland, within an individually tailored account.

If you would like to investigate this new personally-tailored service, please contact our Swiss gold and precious metals storage broker, either at this link, or via the menu item on our front page.

(For those with less to invest, we will work on creating that service too.)

Gold rouble? Russia emerges as world’s top gold buyer, adding 570 metric tons in last decade

14 Feb


Whether it is the Chinese or the Russians who eventually create a gold-backed currency (and my money is on the Chinese), it certainly seems very interesting that both countries are adding strongly to their gold stockpiles, which are probably being fed by gold-price-suppressing operations organised by the Western central banking cartel.

We also see in this story from Zero Hedge, that the real currency war isn’t between the dollar, the euro, and yen, but between fiat currencies and gold.

In a final linked story from King World News, Robert Fitzwilson concludes that both Russia and China know the end of the dollar is approaching, and are preparing themselves accordingly.