The Joe Stack Attack ,Born Free and taxed to death.

Joe Stack , software engineer …an average Joe …BUT SO MUCH MORE!!!

“The most dangerous man to any government is the man who is able to think things out… without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable. It doesn’t take a majority to make a rebellion; it takes only a few determined leaders and a sound cause.”

Joe Stack  , an average Joe , from an average background ,had worked this out. His response ….the man deliberately flew his plane into the IRS(US tax) building in Austin Texas.

Here is his suicide note…. this is NOT the ravings of a nutcase ….I think it strikes chords we all can sympathise with. I think he is just one of MILLIONS .How many more GOOD MEN and WOMEN must be driven to this end before WE THE PEOPLE take back the power and put things right.

TAKE IT AWAY JOE………

If you’re reading this, you’re no doubt asking yourself, “Why did this have to happen?”  The simple truth is that it is complicated and has been coming for a long time.  The writing process, started many months ago, was intended to be therapy in the face of the looming realization that there isn’t enough therapy in the world that can fix what is really broken.  Needless to say, this rant could fill volumes with example after example if I would let it.  I find the process of writing it frustrating, tedious, and probably pointless… especially given my gross inability to gracefully articulate my thoughts in light of the storm raging in my head.  Exactly what is therapeutic about that I’m not sure, but desperate times call for desperate measures.

We are all taught as children that without laws there would be no society, only anarchy.  Sadly, starting at early ages we in this country have been brainwashed to believe that, in return for our dedication and service, our government stands for justice for all.  We are further brainwashed to believe that there is freedom in this place, and that we should be ready to lay our lives down for the noble principals represented by its founding fathers.  Remember? One of these was “no taxation without representation”.  I have spent the total years of my adulthood unlearning that crap from only a few years of my childhood.  These days anyone who really stands up for that principal is promptly labeled a “crackpot”, traitor and worse.

While very few working people would say they haven’t had their fair share of taxes (as can I), in my lifetime I can say with a great degree of certainty that there has never been a politician cast a vote on any matter with the likes of me or my interests in mind.  Nor, for that matter, are they the least bit interested in me or anything I have to say.

Why is it that a handful of thugs and plunderers can commit unthinkable atrocities (and in the case of the GM executives, for scores of years) and when it’s time for their gravy train to crash under the weight of their gluttony and overwhelming stupidity, the force of the full federal government has no difficulty coming to their aid within days if not hours?  Yet at the same time, the joke we call the American medical system, including the drug and insurance companies, are murdering tens of thousands of people a year and stealing from the corpses and victims they cripple, and this country’s leaders don’t see this as important as bailing out a few of their vile, rich cronies.  Yet, the political “representatives” (thieves, liars, and self-serving scumbags is far more accurate) have endless time to sit around for year after year and debate the state of the “terrible health care problem”.  It’s clear they see no crisis as long as the dead people don’t get in the way of their corporate profits rolling in.

And justice? You’ve got to be kidding!

How can any rational individual explain that white elephant conundrum in the middle of our tax system and, indeed, our entire legal system?  Here we have a system that is, by far, too complicated for the brightest of the master scholars to understand.  Yet, it mercilessly “holds accountable” its victims, claiming that they’re responsible for fully complying with laws not even the experts understand.  The law “requires” a signature on the bottom of a tax filing; yet no one can say truthfully that they understand what they are signing; if that’s not “duress” than what is.  If this is not the measure of a totalitarian regime, nothing is.

How did I get here? 

My introduction to the real American nightmare starts back in the early ‘80s.  Unfortunately after more than 16 years of school, somewhere along the line I picked up the absurd, pompous notion that I could read and understand plain English.  Some friends introduced me to a group of people who were having ‘tax code’ readings and discussions.  In particular, zeroed in on a section relating to the wonderful “exemptions” that make institutions like the vulgar, corrupt Catholic Church so incredibly wealthy.  We carefully studied the law (with the help of some of the “best”, high-paid, experienced tax lawyers in the business), and then began to do exactly what the “big boys” were doing (except that we weren’t steeling from our congregation or lying to the government about our massive profits in the name of God).  We took a great deal of care to make it all visible, following all of the rules, exactly the way the law said it was to be done.

The intent of this exercise and our efforts was to bring about a much-needed re-evaluation of the laws that allow the monsters of organized religion to make such a mockery of people who earn an honest living.  However, this is where I learned that there are two “interpretations” for every law; one for the very rich, and one for the rest of us… Oh, and the monsters are the very ones making and enforcing the laws; the inquisition is still alive and well today in this country.

That little lesson in patriotism cost me $40,000+, 10 years of my life, and set my retirement plans back to 0.  It made me realize for the first time that I live in a country with an ideology that is based on a total and complete lie.  It also made me realize, not only how naive I had been, but also the incredible stupidity of the American public; that they buy, hook, line, and sinker, the crap about their “freedom”… and that they continue to do so with eyes closed in the face of overwhelming evidence and all that keeps happening in front of them.

Before even having to make a shaky recovery from the sting of the first lesson on what justice really means in this country (around 1984 after making my way through engineering school and still another five years of “paying my dues”), I felt I finally had to take a chance of launching my dream of becoming an independent engineer.

On the subjects of engineers and dreams of independence, I should digress somewhat to say that I’m sure that I inherited the fascination for creative problem solving from my father.  I realized this at a very young age.

The significance of independence, however, came much later during my early years of college; at the age of 18 or 19 when I was living on my own as student in an apartment in Harrisburg, Pennsylvania.  My neighbor was an elderly retired woman (80+ seemed ancient to me at that age) who was the widowed wife of a retired steel worker.  Her husband had worked all his life in the steel mills of central Pennsylvania with promises from big business and the union that, for his 30 years of service, he would have a pension and medical care to look forward to in his retirement.  Instead he was one of the thousands who got nothing because the incompetent mill management and corrupt union (not to mention the government) raided their pension funds and stole their retirement.  All she had was social security to live on.

In retrospect, the situation was laughable because here I was living on peanut butter and bread (or Ritz crackers when I could afford to splurge) for months at a time.  When I got to know this poor figure and heard her story I felt worse for her plight than for my own (I, after all, I thought I had everything to in front of me).  I was genuinely appalled at one point, as we exchanged stories and commiserated with each other over our situations, when she in her grandmotherly fashion tried to convince me that I would be “healthier” eating cat food (like her) rather than trying to get all my substance from peanut butter and bread.  I couldn’t quite go there, but the impression was made.  I decided that I didn’t trust big business to take care of me, and that I would take responsibility for my own future and myself.

Return to the early ‘80s, and here I was off to a terrifying start as a ‘wet-behind-the-ears’ contract software engineer… and two years later, thanks to the fine backroom, midnight effort by the sleazy executives of Arthur Andersen (the very same folks who later brought us Enron and other such calamities) and an equally sleazy New York Senator (Patrick Moynihan), we saw the passage of 1986 tax reform act with its section 1706.

For you who are unfamiliar, here is the core text of the IRS Section 1706, defining the treatment of workers (such as contract engineers) for tax purposes. Visit this link for a conference committee report (http://www.synergistech.com/1706.shtml#ConferenceCommitteeReport) regarding the intended interpretation of Section 1706 and the relevant parts of Section 530, as amended. For information on how these laws affect technical services workers and their clients, read our discussion here (http://www.synergistech.com/ic-taxlaw.shtml).

SEC. 1706. TREATMENT OF CERTAIN TECHNICAL PERSONNEL.

(a) IN GENERAL – Section 530 of the Revenue Act of 1978 is amended by adding at the end thereof the following new subsection:

(d) EXCEPTION. – This section shall not apply in the case of an individual who pursuant to an arrangement between the taxpayer and another person, provides services for such other person as an engineer, designer, drafter, computer programmer, systems analyst, or other similarly skilled worker engaged in a similar line of work.

(b) EFFECTIVE DATE. – The amendment made by this section shall apply to remuneration paid and services rendered after December 31, 1986.

Note:

<!–[if !supportLists]–>·      <!–[endif]–>”another person” is the client in the traditional job-shop relationship.

<!–[if !supportLists]–>·      <!–[endif]–>”taxpayer” is the recruiter, broker, agency, or job shop.

<!–[if !supportLists]–>·      <!–[endif]–>”individual”, “employee”, or “worker” is you.

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Admittedly, you need to read the treatment to understand what it is saying but it’s not very complicated.  The bottom line is that they may as well have put my name right in the text of section (d).  Moreover, they could only have been more blunt if they would have came out and directly declared me a criminal and non-citizen slave.  Twenty years later, I still can’t believe my eyes.

During 1987, I spent close to $5000 of my ‘pocket change’, and at least 1000 hours of my time writing, printing, and mailing to any senator, congressman, governor, or slug that might listen; none did, and they universally treated me as if I was wasting their time.  I spent countless hours on the L.A. freeways driving to meetings and any and all of the disorganized professional groups who were attempting to mount a campaign against this atrocity.  This, only to discover that our efforts were being easily derailed by a few moles from the brokers who were just beginning to enjoy the windfall from the new declaration of their “freedom”.  Oh, and don’t forget, for all of the time I was spending on this, I was loosing income that I couldn’t bill clients.

After months of struggling it had clearly gotten to be a futile exercise.  The best we could get for all of our trouble is a pronouncement from an IRS mouthpiece that they weren’t going to enforce that provision (read harass engineers and scientists).  This immediately proved to be a lie, and the mere existence of the regulation began to have its impact on my bottom line; this, of course, was the intended effect.

Again, rewind my retirement plans back to 0 and shift them into idle.  If I had any sense, I clearly should have left abandoned engineering and never looked back.

Instead I got busy working 100-hour workweeks.  Then came the L.A. depression of the early 1990s.  Our leaders decided that they didn’t need the all of those extra Air Force bases they had in Southern California, so they were closed; just like that.  The result was economic devastation in the region that rivaled the widely publicized Texas S&L fiasco.  However, because the government caused it, no one gave a shit about all of the young families who lost their homes or street after street of boarded up houses abandoned to the wealthy loan companies who received government funds to “shore up” their windfall.  Again, I lost my retirement.

Years later, after weathering a divorce and the constant struggle trying to build some momentum with my business, I find myself once again beginning to finally pick up some speed.  Then came the .COM bust and the 911 nightmare.  Our leaders decided that all aircraft were grounded for what seemed like an eternity; and long after that, ‘special’ facilities like San Francisco were on security alert for months.  This made access to my customers prohibitively expensive.  Ironically, after what they had done the Government came to the aid of the airlines with billions of our tax dollars … as usual they left me to rot and die while they bailed out their rich, incompetent cronies WITH MY MONEY!  After these events, there went my business but not quite yet all of my retirement and savings.

By this time, I’m thinking that it might be good for a change.  Bye to California, I’ll try Austin for a while.  So I moved, only to find out that this is a place with a highly inflated sense of self-importance and where damn little real engineering work is done.  I’ve never experienced such a hard time finding work.  The rates are 1/3 of what I was earning before the crash, because pay rates here are fixed by the three or four large companies in the area who are in collusion to drive down prices and wages… and this happens because the justice department is all on the take and doesn’t give a fuck about serving anyone or anything but themselves and their rich buddies.

To survive, I was forced to cannibalize my savings and retirement, the last of which was a small IRA.  This came in a year with mammoth expenses and not a single dollar of income.  I filed no return that year thinking that because I didn’t have any income there was no need.  The sleazy government decided that they disagreed.  But they didn’t notify me in time for me to launch a legal objection so when I attempted to get a protest filed with the court I was told I was no longer entitled to due process because the time to file ran out.  Bend over for another $10,000 helping of justice.

So now we come to the present.  After my experience with the CPA world, following the business crash I swore that I’d never enter another accountant’s office again.  But here I am with a new marriage and a boatload of undocumented income, not to mention an expensive new business asset, a piano, which I had no idea how to handle.  After considerable thought I decided that it would be irresponsible NOT to get professional help; a very big mistake.

When we received the forms back I was very optimistic that they were in order.  I had taken all of the years information to Bill Ross, and he came back with results very similar to what I was expecting.  Except that he had neglected to include the contents of Sheryl’s unreported income; $12,700 worth of it. To make matters worse, Ross knew all along this was missing and I didn’t have a clue until he pointed it out in the middle of the audit.  By that time it had become brutally evident that he was representing himself and not me.

This left me stuck in the middle of this disaster trying to defend transactions that have no relationship to anything tax-related (at least the tax-related transactions were poorly documented).  Things I never knew anything about and things my wife had no clue would ever matter to anyone.  The end result is… well, just look around.

I remember reading about the stock market crash before the “great” depression and how there were wealthy bankers and businessmen jumping out of windows when they realized they screwed up and lost everything.  Isn’t it ironic how far we’ve come in 60 years in this country that they now know how to fix that little economic problem; they just steal from the middle class (who doesn’t have any say in it, elections are a joke) to cover their asses and it’s “business-as-usual”.  Now when the wealthy fuck up, the poor get to die for the mistakes… isn’t that a clever, tidy solution.

As government agencies go, the FAA is often justifiably referred to as a tombstone agency, though they are hardly alone.  The recent presidential puppet GW Bush and his cronies in their eight years certainly reinforced for all of us that this criticism rings equally true for all of the government.  Nothing changes unless there is a body count (unless it is in the interest of the wealthy sows at the government trough).  In a government full of hypocrites from top to bottom, life is as cheap as their lies and their self-serving laws.

I know I’m hardly the first one to decide I have had all I can stand.  It has always been a myth that people have stopped dying for their freedom in this country, and it isn’t limited to the blacks, and poor immigrants.  I know there have been countless before me and there are sure to be as many after.  But I also know that by not adding my body to the count, I insure nothing will change.  I choose to not keep looking over my shoulder at “big brother” while he strips my carcass, I choose not to ignore what is going on all around me, I choose not to pretend that business as usual won’t continue; I have just had enough.

I can only hope that the numbers quickly get too big to be white washed and ignored that the American zombies wake up and revolt; it will take nothing less.  I would only hope that by striking a nerve that stimulates the inevitable double standard, knee-jerk government reaction that results in more stupid draconian restrictions people wake up and begin to see the pompous political thugs and their mindless minions for what they are.  Sadly, though I spent my entire life trying to believe it wasn’t so, but violence not only is the answer, it is the only answer.  The cruel joke is that the really big chunks of shit at the top have known this all along and have been laughing, at and using this awareness against, fools like me all along.

I saw it written once that the definition of insanity is repeating the same process over and over and expecting the outcome to suddenly be different.  I am finally ready to stop this insanity.  Well, Mr. Big Brother IRS man, let’s try something different; take my pound of flesh and sleep well.

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The communist creed: From each according to his ability, to each according to his need.

The capitalist creed: From each according to his gullibility, to each according to his greed.

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Joe Stack (1956-2010)

02/18/2010

JOE STACK R.I.P.

Joe Stack , software engineer …an average Joe…a hero…he gave his life so others may see …..Rest In Peace…its up to the rest of us now. 

This might also give people pause to think about others, all around the world,for different reasons , being driven to the point of “nothing left to loose” and desiring to take out as many of the guilty as possible. 

BUT Just who is the GUILTY ?   

I don’t suppose the workers in the IRS Tax office concider themselves guilty…..BUT Joe certainly did……and I agree with him. You might say its only a job ,but you must take responsibilities for your actions and that includes your choice of employment.

ALSO If you do not oppose the concept and ACTIONS of YOUR government YOU are also guilty in the eyes of many “with nothing left to loose”….people like Joe, here and  in other lands..who have had everything they have loved and worked for destroyed by the actions of uncaring government officials, both militarily and burecratically , just doing thier job!

Can WE call IRS casualties ,collateral damage? IN FACT  As they are non combatant do we even include them in the body count?

SO WHAT PUSHED JOE STACK OVER THE EDGE?

US TAX LAWS AND THE 1913 COUP

The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows the Congress to levy an income tax without apportioning it among the states or basing it on Census results.It was ratified on February 3, 1913.

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

TAX FIRST USED TO PAY FOR WAR!!!!!

To raise revenue to fund the Civil War, the income tax was introduced in the United States with the Revenue Act of 1861.[7] It was a flat tax of 3% on annual income above $800. The following year, this was replaced with a graduated tax of 3-5% on income above $600 in the Revenue Act of 1862, which specified a termination of income taxation in 1866. The Socialist Labor Party advocated a graduated income tax in 1887.[8] The Populist Party “demanded a graduated income tax” in its 1892 platform.[9] The Democratic Party, led by William Jennings Bryan, advocated the income tax law passed in 1894,[10] and proposed an income tax in its 1908 platform

THE 1912 RIGGED ELECTION, ALL CANDIDATES SUPPORT INCOME TAX

The presidential election of 1912 was contested between three advocates of an income tax.[22] On February 25, 1913, Secretary of State Philander Knox proclaimed that the amendment had been ratified by the necessary three-fourths of the states, and thus had become part of the Constitution. Shortly thereafter, the Revenue Act of 1913 was enacted

1913 THE CORPORATE COUP OF AMERICA.  THE FEDERAL RESERVE IS SETUP AND INCOME TAX IMPOSED TO FEED THE BEAST.

The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. ch.3) is the act of Congress that created the Federal Reserve System, the central banking system of the United States of America, which was signed into law by President Woodrow Wilson.

“I am a most unhappy man. I have unwittingly ruined my country.A great industrial nation is controlled by its system of credit.Our system of credit is concentrated. The growth of the nation,therefore, and all our activities are in the hands of a few men.We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world.No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

Woodrow Wilson
(1856-1924) 28th US President
WAS IT LEGAL OR WAS IT A COUP?
IS THE FED LEGAL?
The Federal Reserve Act, which began the Fed, was a hotly debated issue in its own right, and passed primarily on party lines—and that was only after considerable political manipulation of Congressmen by Woodrow Wilson
Controversy about the Federal Reserve Act and the establishment of the Federal Reserve System have existed since prior to its passage, and include whether Congress has the Constitutional power to delegate its power to coin money or issue paper money, whether the Federal Reserve is a public cartel of private banks (also called banking cartel) established to protect large banks, or whether the Federal Reserves’ actions increase the frequency and severity of boom-bust economic cycles such as the Great Depression of the 1930s, the Late-2000s recession, and others.
https://cuthulan.wordpress.com/2009/09/03/the-record-of-the-federal-reserve/
Some critics argue that the Federal Reserve System is unconstitutional. The most prominent objection is a species of nondelegation: Congress is empowered by the Constitution to coin money (and by implication, to control the money supply), but may not delegate that authority to the Federal Reserve System. Congressman Ron Paul, for example, argues that:

The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy

http://www.youtube.com/watch?v=jOlSadj8lOo

Before 1913 and the Federal Reserve Act, the United States government coined and issued debt free money. The only type of legal money was gold and silver coin, and gold and silver, according to the Constitution, is still the only form of legal money.

The Federal Reserve System has violated the Constitution by printing its own paper money, and by printing so much paper money, which is backed by neither gold nor silver, that inflation and debt has eroded away at our way of life.

To back up the Constitution and its definition of what lawful money is, the United States Code, federal statutory code, USC Title 12 Section 152 states; “The terms lawful money and lawful money of the United States shall be construed to mean gold and silver coin of the United States.”

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

Thomas Jefferson

https://cuthulan.wordpress.com/2010/02/08/is-the-us-already-bankrupt-and-trading-in-fake-gold/

ARE THE TAX LAWS LEGAL?

In 1984, William J. Benson began a research project, never before performed, to investigate the process of ratification of the 16th Amendment. After traveling to the capitols of the New England states, and reviewing the journals of the state legislative bodies, he saw that many states had not ratified the Amendment. Continuing his research at the National Archives in Washington, DC, Bill Benson discovered his Golden Key. This damning piece of evidence is a 16 page memorandum from the Solicitor of the Department of State, whose duty is the provision of legal opinions for the use of the Secretary of State. In this memorandum sent to the Secretary of State, the Solicitor of the Department of State lists the many errors he found in the ratification process!

The 4 states listed below are among the 38 states that Philander Knox claimed ratification from.

The Kentucky Senate voted upon the resolution, but rejected it by a vote of 9 in favor and 22 opposed.
The Oklahoma Senate amended the language of the 16th Amendment to have a precisely opposite meaning.
The California legislative assembly never recorded any vote upon any proposal to adopt the amendment proposed by Congress.
The State of Minnesota sent nothing to the Secretary of State in Washington.
When his year long project was finished at the end of 1984, Bill had visited every state capitol and knew that not a single state had actually and legally ratified the proposal to amend the Constitution. 33 states engaged in the unauthorized activity of amending the language of the amendment proposed by congress, a power the states do not possess. Since 36 states were needed for ratification, the failure of 13 to ratify would be fatal to the amendment, and this occurs within the major (first three) defects tabulated in Defects in Ratification of the 16th Amendment. Even if we were to ignore defects of spelling, capitalization, and punctuation, we would still have only 2 states which successfully ratified.

BUT YOU ARE NOT ALLOWED TO QUESTION THE GOVERNMENT

The adoption of the 16th Amendment, specifically arguments that it was never properly ratified by the states, have been a source of tax protester Sixteenth Amendment arguments. However, every argument has been repeatedly rejected by the courts, to the point that filing a case with said arguments has been ruled to be a frivolous lawsuit, subjecting the filer to criminal and civil penalties

UK TAX LAWS USED TO FINANCE WARS AND OPPRESS THE LOCALS

The income tax was first implemented in Britain by William Pitt the Younger in his budget of December 1798 to pay for weapons and equipment in preparation for the Napoleonic Wars. Pitt’s new graduated (progressive) income tax began at a levy of 2 old pence in the pound (1/120) on incomes over £60 (2007:£48,700)

Pitt’s income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens.The income tax was reintroduced by Addington in 1803 when hostilities recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo.

TODAYS INCOME TAX PAYS FOR GOVERNMENT DEBTS(WARS) AND POLICING 

The UK income tax was reintroduced by Sir Robert Peel in the Income Tax Act 1842. Peel, as a Conservative, had opposed income tax in the 1841 general election, but a growing budget deficit required a new source of funds.He helped create the modern concept of the police force (leading to officers being known as “bobbies”, in England, or Peelers, in Northern Ireland and in some places in Ireland, to this day) while Home Secretary , oversaw the formation of the Conservative Party out of the shattered Tory Party

TODAY WE STILL PAY TAX ,WE ARE STILL IN DEBT, WE ARE STILL AT WAR , AND WE ARE STILL GETTING SHOT AND BEATEN BY THE POLICE WE PAY FOR!!!!!!

AND WE THINK WE ARE SO CLEVER CLASSLESS AND FREE

LABOUR AND TORY , DEMOCRATE AND REPUBLICAN ….THE TWO CHEEKS OF THE SAME ARSE!!!!!!!!!

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again . . . Take this great power away from them, and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.[38]
– Sir Josiah Stamp, Director of the Bank of England, 1927

“Whether the mask is labeled Fascism, Democracy, or Dictatorship or the Proletariat, our great adversary remains the Apparatus-the bureaucracy, the police, the military…. No matter what the circumstances, the worst betrayal will always be to subordinate ourselves to this Apparatus, and to trample underfoot, in its service, all human values in ourselves and in others.”– The French worker philosopher Simone Weil,1945

“All government, of course, is against liberty. The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. Most people want security in this world, not liberty.”

TO ALL AUTHORITARIANS ……BEWARE ….YOU ARE SUPPOSED TO BE PUBLIC SERVANTS ….WE ARE YOUR PAYMASTERS ……LISTEN TO YOUR MASTERS AND DO THEIR BIDDING…….. OR…..    ITS ANOTHER AVERAGE JOE STACK ATTACK ………… JUST AROUND THE CORNER

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3 Responses to The Joe Stack Attack ,Born Free and taxed to death.

  1. […] Bradford and Bingley’s slow 12 month death march towards the same fate as Northern Rock finally looks set to have come to an end with expectations on Sunday  that the beleaguered bank will be nationalised with a view to a break of the bank and liquidation of assets so as to cover in part the estimated £20 billion  bailout cost that is required to fill the gap between assets and liabilities. The toxic mortgages will probably end up with the government owned Northern  Rock bank which will increasingly be seen as the UK Governments Toxic Mortgage Dump where the tulip backed securities of further bank busts and partial  bailouts will end up. The banks traded in complex derivatives products between themselves, in what is termed as the over the counter market. The exposure to the Securitized debt  packages was further exaggerated by the use of leverage of in many cases more than 30X the banks assets against valuations based on complex models that  inflated the packages values during the boom times which allowed huge profits and bonuses to be banked (Fraud?). However the critical point is in the final  link in a long chain of sliced and diced debt packages was the US housing market. Now many banks are left with assets that are worth LESS than 50% of their “mark to market” booked value. Now that does not mean a 50% loss for the banks on  investments, remember the greedy banks deployed LEVERAGE of as much as 30 times of assets, so capital of say £100 million is controlling risk of as much as  £3,000 million. Therefore a 50% loss results in a loss of value of £1,500 million, that’s 15 TIMES the capital. Hence the banks have been reluctant to price  their debt packages at the real market price as that would mean that the bank is effectively bankrupt with losses far greater than the banks capital base. So  the market remains frozen until all of the illiquid mortgage backed debt has been transferred over to the tax payers in exchange for liquid cash, hence  prompting the US Mother of All bailouts plan. http://www.marketoracle.co.uk/Article6498.html THIS IS JUST THE TIP OF THE ICEBERG. THIS IS LIQUID LENDING MONEY, WE STILL HAVE THE ASSET MARKET Trouble in Hedgefundistan: “Its gonna get a lot worse” http://www.marketoracle.co.uk/Article1600.html AND THE DERIVITIVES MARKETS TO BAILOUT!!! Bailout Secret- To Prevent $68 Trillion Derivatives Collapse Chain Reaction http://www.marketoracle.co.uk/Article6495.html AND AFTER TRILLIONS OF DOLLARS IN BANKER BAILOUTS THERE IS NOTHING LEFT IN THE KITTY FOR THE AVERAGE JOE! https://cuthulan.wordpress.com/2010/02/20/the-joe-stack-attack-born-free-and-taxed-to-death/ […]

  2. […] THE BAILOUT WAS A SELL OUT FROM THE START AND HAS NOT A HOPE OF WORKING ,BUT THAT WAS NEVER THE POINT.THE BAILOUT SO FAR HAS JUST BEEN FOR LIQUID MONEY .THIS IS JUST THE TIP OF THE ICEBERG. THIS IS LIQUID LENDING MONEY, WE STILL HAVE THE ASSET MARKET Trouble in Hedgefundistan: “Its gonna get a lot worse” http://www.marketoracle.co.uk/Article1600.html AND THE DERIVITIVES MARKETS TO BAILOUT!!! Bailout Secret- To Prevent $68 Trillion Derivatives Collapse Chain Reaction http://www.marketoracle.co.uk/Article6495.html AND AFTER TRILLIONS OF DOLLARS IN BANKER BAILOUTS THERE IS NOTHING LEFT IN THE KITTY FOR THE AVERAGE JOE! https://cuthulan.wordpress.com/2010/02/20/the-joe-stack-attack-born-free-and-taxed-to-death/ […]

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