The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label black market. Show all posts
Showing posts with label black market. Show all posts

Monday, November 28, 2016

Newest banker scheme: tax on withdrawing money from your bank accounts

Despite the fact that taxpayers bailed out banks in the U.S. and around the world following the 2008 financial crisis, the 'masters of the monetary universe' did little to show appreciation for the people that saved them from bankruptcy due to their own greed and corruption.  And even with the ability now to borrow money from central bank discount windows at or near zero percent interest, a large number of banks chose to impose new fees on their customers under the guise of re-capitalization.

Ironically, when companies impose a charge on individuals for a service it is known as a fee, but when a government does the same it is instead called a tax.  And that is exactly what India, Greece, and perhaps soon even the United States is, or is planning to do, for people who choose to withdrawal cash out of their bank accounts in the future rather than using digital constructs to perform commerce.

war-on-cash
Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdrawals. 
Bankers reportedly stress that cash money can easily and largely be channeled in the black economy. Therefore, a tax on cash withdrawals will drastically reduce cash transactions and by extension the black economy. 
The bankers suggest that also credit and debit cards as wells as new technologies enabling cash-less transactions even for small amounts  and mobile phones can be used for the purchase of a transport ticket or a newspaper at the kiosk. 
The bankers proposal to the government also includes: 
-Mandatory use of cards or other electronic payment networks for every transaction with professions where there is strong evidence of tax evasion or where cash is mainly used [ like bakeries, kiosks, street vendors and chestnut sellers?]. 
-Mandatory use of cards or electronic networks for transactions above a certain amount [this measure is already in effect]. 
-Reforming the tax system by introducing a revenue-expenditure system. Households or professionals will only be taxed on the amount of income that is has not been spent. In this way, households and professionals will have a strong incentive to seek receipts for any expenditure in order to increase their expenditure and reduce the tax amount they will have to pay. 
-Obligation for all businesses and regardless of their size to pay electronically every salary and wage. (source: Kathimerini via Liberal.gr) - Zerohedge
Over in India, Prime Minister Modi has already implemented a 45% transaction tax on deposits that the government arbitrarily believes come from illegal or 'black market' commerce.  And these two countries (India and Greece) are not the only nations with plans to impose a tax on cash withdrawals as this has been in the works for a few years in the halls of the Fed and Congress.

Greece is the first country to push for a carry tax on physical cash. It won’t be the last. This policy has been floating around in Central Banking circles for years. The fact that it’s now being openly promoted only proves how desperate the elites are getting about the state of the financial system. 
Watch, the moment things turn south in the US in a big way, similar proposals will start cropping up here too.

Sunday, August 14, 2016

India to start tracking cash purchases of gold by its citizens

India's central government is implementing a new policy to deter citizens from purchasing gold using cash.

Under the guise of stopping 'black market' gold purchasing, jewelers are now being required to document cash purchases of gold by anyone, and not to allow annual purchases using cash of over Rs 2 lakh, which is around $3000 U.S. dollars.

Every gold purchase+ made through cash will now have to be tracked by jewellers, irrespective of the bill size, as part of the central government's drive against black money. 
Jewellers are to keep track of the total cash purchase+ made by a customer's during the year, to check if it exceeds the threshold limit of Rs 2 lakh. What's more, the income tax department will keep a close tab on each jeweller to see if any such purchase is going unreported. 
According to current rules, a jewellery buyer will have to produce PAN card+ only when the purchase is over Rs 2 lakh+ . But PAN card is not mandatory for purchases below Rs 2 lakh. "This has led to scopes for a section of people who keep purchase below Rs 2 lakh to avoid any surveillance. Instead of buying gold in bulk, they go for repeated cash purchases and much of it gets unnoticed," said Priyabrata Pramanik, additional director (Income Tax, intelligence and criminal investigation). Such incidents of evading regulatory radar has prompted the central government to ask jewellers to be more proactive. - Times of India
India has been using capital controls such as these to put pressure on its people to deter gold buying in lieu of alternative consumer spending using the Rupee currency.  This of course has led to a massive black market smuggling operation to try to bring more gold into the country.

Gold is the enemy to fiat currencies and the current global financial system which has allowed governments to expand monetary supplies far beyond fiscally responsible levels.  And the biggest fear to central banks today is that people will suddenly awaken to their schemes of quantitative easing and negative interest rates, and decide to rush headlong into the metal causing a financial collapse that would not only destroy most global currencies, but also bring down governments that rely upon infinite money printing to protect their establishment, and keep themselves in power.