Where do we start but in no particular order lets expose the biggest from this month’s reading.
1. Porter writes ‘I recently learned about an ongoing financial crime – by far the largest in history.
According to sources that I trust (and based on my own team's research to verify these claims), something around $100 billion in dividends has already been stolen.
Up to $1 billion a month continues to be taken, in what must be the most brazen corporate crime in history.
To give you some idea about the scope of this crime (and how big this story will become), the fraud at Enron resulted in the collapse of a $40 billion corporation.
What has been stolen in this case is already almost twice that much, in cash.
The most shocking aspect of this case, however, isn't its enormous size – and it's the largest corporate fraud of all time.
What's truly shocking is that the people behind this fraud were working for the government when the plan was implemented.
They've been using "executive privilege" as an excuse to cover their tracks, insisting that 11,000 documents that detail how this happened may be vital to national security. Read More
2. Fidelity, one of the very largest of fund managers writes
Excessive government debt can be curbed in various ways. Officials could even resort to tricks to do this.
One would be to mint, say, a trillion dollar coin. If the law allows, the treasury department could mint such a coin, deposit it with the central bank and receives the corresponding amount in cash, a sum that would wipe out the equivalent in government debt.
Another way would be to write off bonds held by central banks – do this, and some calculate that Japan’s government debt-to-GDP ratio would fall from a world-high 235% to about 95%. More credible steps would be to allow a modest rise in inflation to erode the real value of debt. Governments could sell assets or boost taxes and other charges.
More sneakily, governments could use their legal might to squeeze money from their citizens, be they savers, investors or creditors, via what is known as “financial repression”.
Underhand ways to reduce government debt are laws capping interest rates or laws that force citizens or managed funds to buy sovereign bonds. Or governments could default. Read More
Let’s review some of articles from this week alone in Australia.
3. Henry writes in The Australian
In theory, putting your jewels in a safe protects them from theft. In practice, thieves know safes are where the jewels are kept. And if the thief has a key, you’re in trouble.
That, in a nutshell, is the story of super.
There are, no doubt, many twists in the saga; but all the latest episode confirms is that when they are desperate for cash, governments can be trusted to breach whatever trust we have placed in them Read more
And also from the Australian this week
In the 2013 campaign the Coalition made a similar solemn promise — they would make no fundamental changes to superannuation in the 44th parliament. The Coalition completely broke that promise in the budget and even backdated their breach to 2007. To do that in such a long-term game as superannuation really shatters trust. Read more
From the campaign trial
What is safe?’
Bill Shorten says there is “seething rage” in the community over the government’s retrospective changes to superannuation.
“We ask Australians to compulsorily commit to retirement income - they don’t get the value of the money now, they have to save it for retirement,” the Opposition Leader said.
“But it turns Australians into a seething rage when they discover that they make investment decisions and, if Mr Turnbull and Mr Morrison can make a retrospective decision ... what is safe?”
And again from The Australian
Bill Shorten stands accused of misleading voters over the boost to growth from his $37.4 billion school funding plan by claiming an economic lift “straight away” from the spending despite economic research that shows the gains would take decades. Read more
4 . As we have a core belief that health is fundamental to your wealth as bad health destroys your wealth then lets add some massive medical lies IMHO
1. Dr Mercola writes
However, if the vaccine is ineffective, and/or if the disease doesn't pose a great threat to begin with, then the vaccine may indeed pose an unacceptable risk. This is particularly true if the vaccine has been linked to serious side effects. Unfortunately, that's the case with the MMR vaccine, which has been linked to at least 98 deaths and 694 disabilities between 2003 and 2015.
Considering the fact that only 1 to 10 percent of vaccine reactions are ever reported, those numbers could actually be closer to 980 deaths and 6,940 disabilities.
Meanwhile, death from mumps is "exceedingly rare" according to the CDC,6 and no one has died from mumps during any of the recent outbreaks Read more
2. And being a student from the sixties then Read more on cynical government
3. Then there is this best explanation we have read & so we are happy.
Lisa who works in palliative care will be happy but what about the 10% with severe & chronic back pain as George* has.
Fewer DVOs!!...... Fewer cops & prisons & prescriptions….Maybe more Taxx.
The U.S. Food and Drug Administration (FDA) has concluded a review on the safety of medical marijuana, and the U.S. Drug Enforcement Administration (DEA) has announced plans to reconsider its restrictive Schedule I designation that makes the plant a controlled substance. Read More
We could go on forever but better stop but for your own benefit & as a general comment what is not good for the goose is good for the gander.
They don’t like cash & their arguments its only for terrorists & gangsters is B. S. as our Dad would say.
They also don’t like Gold.
Simply we put certainty into your financial life & as a past maths teacher we like to solve your financial problem so that you are better off in three years time.
Before you forget take your 5 minute financial checkup or call us on 07 3848 1088 or This email address is being protected from spambots. You need JavaScript enabled to view it.today or reassure yourselves via our website
John McAuliffe
