"In less than 12 months... the savings of millions of people is going to vanish."

This is a video in which the BBC interviewers are visibly shaken by a market trader's assessment of the economy's dire state.

Money quote:

"This economic crisis is like a cancer, if you just wait and wait thinking that this is going to go away, just like a cancer it is going to grow and it's going to be too late! What I would say to everybody is: Get prepared. This is not a time right now to-- wishful thinking-- the government is going to sort things out. The governments don't rule the world. Goldman-Sachs rules the world."

Hat tip: Zero Hedge

Wes Messamore,
Editor in Chief, THL
Articles | Author's Page

Thomas Sowell Returns

By: Thomas Winslow Hazlett Reason

Tax Bill Is Beginning of Formal Debt Criminalization

The noose is tightening on liberty. The United States Congress is steadily headed to a place where those who owe money to the US government shall be treated criminally. This phenomenon is advancing domestically and now, increasingly, internationally. The first shot in this latest campaign took place in 2010 when US President Barack Obama signed into law The Foreign Account Tax Compliance Act. It demanded, basically, that foreign banks withhold up to 30 percent of the income that an American abroad might earn. This bill isn't working so well because overseas banks are not cooperating (a state of affairs that was certainly expected). Thus, there is a need for something else: Senate Bill 1813, recently introduced by Senator Barbara Boxer (D-CA). This bill, in part, states that taxpayers with unpaid taxes over US$50,000 may find their passports confiscated. This isn't criminal per se, but the IRS has recently made noises about "sharing" information with police a...

Why Libertarianism Is So Dangerous (video)

A former libertarian abandons his dream of a voluntary world and explains the potential worse case scenario after the overnight disappearance of government. The ending will SHOCK you! Via: School Sucks Project . Fist bump: Anthony Gregory .

The Humble Libertarian original

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