@ DB:

Don't worry about the cyber-stuff. They already have it in place. Jack Bauer and Chloe from 24 can triangulate your position from the RF chips you ate this afternoon. Next season, they will be able to remotely give you an upset stomach by the simple pressing of Chloe's belly-button (snarl). Oh, they cancelled it because the viewers all realized that it was drone-ing on too much like a near-now reality show. Remember the black president a few years ago? Then he was "offed" and his brother became the Prez? Now it's a woman. Oh my god, not The Clinton! Please, no, no, no (fade to grey). Please note, I have never seen the show. It is torture.

Oh, by the way, there are 2 leaders, Ben Dover, and his protege, Phil McCracken.

A demain.

@ David:

And please check your premises; wealth accumulation tax or consumption tax? How about no tax! Your friend and mine, Ludwig von Mises grew up in a small town where they paid the village idiot to sweep the floors for a pittance, because that is what they were worth, and it got him out of the house for a while. No minimum wage, no sucking at the government tit. They could afford charity, because they kept all their money and humanitarianism was on their terms. No-one went hungry for an occupation.

@ David:

I live in Canada, actually, Ontario, actually, XXXXXX (the walls have ears). The HST is WAY lower than 14 percent. It is actually going to be 13 percent. (Maybe 14 percent in BC, but that is not in Canada). New homes will be taxed on the amount over $400k. Er, like almost all homes that a middle class person would want to live in - Re-sales are not taxed. This tax will affect everything from soup to nuts (!). The black market will grow much larger as a result. Expect to be reamed in all orifices unless you mitigate the problem by taking cash action. Use a smattering of cash and your problems will diminish, if you know what I mean.

@ John Acord:

Tut, tut. They cannot goose step us into totalitarianism. We have workarounds, remember?

@ Clayton:
You the man. That brought back memories of my whimsical trips to Niagara Falls to watch the multi-coloured floodlights on the frozen ice and the trees encapsulated with frozen vapour - an inch thick. But we went in a car. Motorbike collisions are a sport in Canada. I too have had many, many negatives in my life. I read a quote from someone once that you cannot know true happiness until you have experienced true sadness.

@ Ron Holland:

I previously thought South Carolina was only used for driving though @ 85 mph on the way to Florida - just kidding. South Carolina has brutal cops; same as Georgia. Thanks for the history. It explains the current seed of secedence (did I really create a new word spell checker?) that is growing in that state (among many others). I do, however think that it is a Sisyphean task to do some sort of a "top down" direction change of the Power Elite supertanker. Much oil will be spilled. Oops, it already has.

But as the DB often points out; the internet and broad communication, awareness, and education are our hope. However, it is disconcerting to observe activities taking place in America that seem likely to lead to more of a China-like internet, see:
Click to view link

Reply from The Daily Bell

Hm-mm. Is this something new?

"SUMMARY: This document seeks comment on whether the Commission should establish a voluntary program under which participating communications service providers would be certified by the FCC or a yet to be determined third party entity for their adherence to a set of cyber security objectives and/or practices. The Commission also seeks comment on other actions it should take, if any, to improve cyber security and to improve education on cyber security issues. The Commission's goals in this proceeding are to increase the security of the nation's broadband infrastructure, promote a culture of more vigilant cyber security among participants in the market for communications services, and offer end users more complete information about their communication service providers' cyber security practices."

Thanks for the advice, Mr Holland. I fully agree.

Likewise, I agree with my fellow Dutchman, Kees Bruin, that it is likely too late to reverse the socialist course the EU is heading.

The problem as I see it, is that Socialism is presented as a system of fairness, by which what we all have earned is "fairly" distributed among all people, and that individuals should not profit on the expense of "the people". This has some appeal for people that earn less than average. Also, the masses feel comfortable with central control as it takes away responsibilities, and takes care of many fears: the gov as protector of the money system ("we take care that your savings are safe"), as security provider ("the threat of terrorism requires stringent control measures by gov"), as saver of the earth/environment ("CO2 taxes are for making these polluting, energy wasters aware that they need to spend energy wisely"), etc.

So how can we counter-attack? I like what the DB is doing: breaking down the memes of fear that are used to justify control and subtle manipulation of the people. But awareness is not enough: we must get the masses moving. And that's very difficult now so many people directly depend on gov for their income (in the UK it's 55% I heard - even more than during WWII).

[leonardo.pisano57@Click to view link]

"Yes, I know the Greeks have been living beyond their means -- so what? " Bionic Mosquito

Commercial banks don't actually lend money; they create it as debt. However they only create the principle not the interest. Therefore it is practically impossible for all debts to be paid. Thus additional borrowing is required to pay the interest on previous loans. It is a wicked trap. The Greeks should default; that would allow the money that has been lent to them to become debt-free. I suppose the ECB would then attempt to mop up that debt-free money to prevent the debt-slaves from escaping.

So far, the people of Iceland and the people of Greece have stood tallest in this financial calamity of the last few years: Iceland for saying no to becoming slaves to depositers who made a bad investement, and Greece for saying no to bailing out banks on their backs.

Yes, I know the Greeks have been living beyond their means -- so what? Time to default, then watch how good a credit risk Greece will become again -- with the lowest debt to GDP ratio of any western country! And then maybe the banks might actually use prudence in their lending practices. What a refreshing thought!

The Euro will be a stronger currency for it, but this is unfortunately not the goal....

"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it." - John Kenneth Galbraith via DB

Amen!

My inlaws live in Canada a just informed me that the two-tier use tax system (GST/PST) is being replaced with an HST, removing most if not all exemptions to the PST (provincial).

So now almost everything will be taxed at 14%. So I ask what benefit? They informed me Govt Canada said that businesses would benefit to the tune of $1bCAD/year by not having to maintain two books??? I asked, what is the benefit to the consumer? My father-in-law was puzzled by the question.

So with a pen swag, another 7% of their income wiped out.

For those not in Canada there were a lot of exemptions on PST prior to this act. You want to buy a new house 14%.

In the US, I see all of these things (which I consider ridiculous) coming. I mean either tax income or use, not both. IMHO, we should be allowed to accumulate wealth and only pay for consumption. I cannot imagine how much of a better world we would be in if that were the case today.

"Mr Van Rompuy said member states had agreed four main objectives:

* greater budgetary discipline
* find ways to reduce the divergences in competitiveness between member states
* establish an effective economic crisis management mechanism
* strengthen economic governance to be able to act quicker and in a more coordinated and efficient manner to deal with any future economic crises." from:

Click to view link

I guess it would never occur to those folks that a system that requires so much tweaking is INHERENTLY unstable?

A truly outstanding article, and I concur 110%. I am praying that this sovereign debt crisis will cause Germany to leave the EMU and hopefully the EU as well. IMO, France is and always was the bigger threat to the small countries of the EU.

"We can't have a monetary union without some form of economic and - er - political union." - EU president Herman van Rompuy

So now we know a "world currency" is to be the lever that, with or without carbon taxes, energy taxes, water taxes, and other global levies, will create a "world government".

The only way to foil that plan is to have many currencies, many banks and consumption rather than income taxes, payroll taxes, and other levies that serve more to control rather than merely raise funds.

I have been listening to the book "The Fair Tax Solution" (Ken Hoagland, Click to view link) and it seems like a good way to start dealing with the nasty nexus of taxation and freedom.

Most humans want leadership, rather than do the thinking and expression needed for greater freedom. Therefore those who are arrogant and want the power to control others will get that----

In America, the MARXISTS ("PROGRESSIVES"-ANTI-MESSIAH,SAYS KARL MARX HIMSELF) have taken over the House, Senate, Judiciary, and the Presidency of America! Marxist, so far, have never given back what "they" have stolen from an "educated" yet, very self-righteous and ignorant voting public!

No wonder as Glenn Beck pointed out yesterday that they are now mocking the "tea-party" and our Constitution! Get ready America because Yahweh's Two-Witnesses of Revelation will soon be here to punish the REAL Israel(Joseph's seed, NOT Judah's seed, given grace, not race, instead!)for 3 1/2 years! Maybe as early as this September 9th? As Clint Eastwood remarked in one of his movies: "Get ready because hell's coming to dinner," America! Watch!

I find the vision of bankers in jack boots goose-stepping down the Boulevards of Europe a bit comical but, I'm afraid, inevitable. The elite will use this crisis to kill whatever is left of national sovereignty in Europe.

The monetary cisis is spreading and whatever wealth is left will be used to bail out the failed policies of the Socialist Left by mandatinga fully integrated national European State.

Of course, readers of the Bell already know the financial bandage will break, the crisis will continue, and the totalitarianism will prevail.

Reply from The Daily Bell

"Of course, readers of the Bell already know the financial bandage will break, the crisis will continue, and the totalitarianism will prevail."

They do?

Just when the United States is coming apart at the seams, Europe wants to imitate our failure. We may very well have arrived at the Age of Farce. In politics, I guess Size Matters. Angela Merkel maybe seeking the John Holmes of World Government in her quest for bureaucratic contentment. But that nasty bunch of self-seeking speculators needs to be crushed before she can be fully worthy of the Great Man.

Years ago, during the Summer of Love in the Haight/Ashbury of San Francisco, I made the acquaintance of a "underground" cartoon artist named R. Crumb. He was doing the album cover for Janis Joplin's "Cheap Thrills." His images were poignant to say the least. At times like these, I wish someone in our camp had those skills to deploy to depict in a graphic manner the true underlying reality of our time. All I have is words and I fear that words will not be enough.

I am a Yankee. But my wife is a Lady from Alabama. Through her, I became enamored of the gracefulness of the Old South and of Robert E. Lee, a remarkable human being (although a poor Strategist and poorer Tactician). Its erasing has been a great loss to my country.

Think of Europe without its diverse identities, its regional peculiarities, its actual diversities. It would not be Europe, but just another barren place on the Globe. All Mankind would be poorer for it. But the bureaucrats in Brussels would be richer, and that is the point. Who has ever benefited from these political grandiosities, but grifters, misfits, bullies and parasites. They are the New Class and Merkel wants to be their leader. She is willing to sacrifice her country, the happiness of her people and the centuries old culture of the Continent to accomplish her sordid goals.

And those poor deflated Germans, who cannot seem to get up the gumption to toss her out. My father, who was one of those fellows who came ashore at Normandy and fought his way to the Elbe, left me with a memorable quote, "War is the survival of weakest." The current dispirited group that inhabits the Fatherland today proves it to be true. They are lambs to the slaughter. For someone, who is half-German, it is shameful and heartbreaking.

When the South stood up and defied the North, it may have been folly, but at least it demonstrated some manliness in their character. Something awful is going on across the Pond. But what can be done?

It is late at night here on the West Coast, as I write this. I've enjoyed some Champagne and a little Port and my mind turns back to those days in the mid 60's, when I would put on my leather jacket, jump on my bike (manly and motorized, not peddle driven) and cruise down the Pacific Coast Highway thru Big Sur on the Full Moon nights. No helmet required back then. My long blond hair blowing in the cool wind. Hardly anyone on the road. Just me, the ocean scape, the moonlight, the asphalt and whoever wanted to wrap their arms around me a have some adventure on a deserted beach down the road. California before the invasion.

I have to thank God that I actually got to live and taste Freedom. The World of today seems populated by zombies, groping about in ignorance, fear and complicity. What will inspire them to awake?

I suffered greatly at various times in my life, but I accepted it as part of the price to paid for the higher joy of self-actualization. Is it too much to ask the men of Europe to risk stepping out of their comfortable little boxes and start acting like men, take back their lives from the State and learn to keep their own houses in order?

Reply from The Daily Bell

"Is it too much to ask the men of Europe to risk stepping out of their comfortable little boxes and start acting like men, take back their lives from the State and learn to keep their own houses in order?"

Thanks. One wishes it would be so.

I fully agree with your advice to European readers, of whom I'm one. But I'm afraid it's already too late. Seccesion is not in the game, although it is an absolute right in my opinion.

Your warning to Europeans very much reminded me of what I, as a Dutchman, would advise the people of Iceland, which country (or rather its politicians) wants to join the EU: stay away from the EU while you still can.

The people of Iceland have already had a nasty foretaste of what lies in store for them in the EU, when Iceland got effectively blackmailed bij the UK and The Netherlands in connection with the Icesave-affair. They will only lose their freedom when they enter the EU, and gain nothing.

It's like you said, entering a union is easy, but quiting is quite another thing. On the other hand, even the horrible Soviet Union fell into pieces. So, I guess there is still hope for those who long for democracy!