TAX CUTS AND JOBS ACT (TCJA) OF 2017 COMPLICATES POTENTIAL SETTLEMENT OF DIVORCE CASES

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The Tax Cuts and Jobs Act of 2017 (TCJA) enacted dramatic changes to several tax issues that directly impact how divorces are settled. If you are a high wage earner, or you’re married to one and you’re contemplating getting a divorce, there’s almost a sense of urgency toward you understanding the financial aspects of your divorce and when to file your marital settlement agreement, should you and your spouse reach one.

Heather L. Locus, an owner and wealth manager at Balasa Dinverno Foltz LLC in Chicago, defines on her Website why this could be important to you. “Many high-net-worth couples may want to move quickly in order to preserve some important financial options,” Locus writes. “Couples who finalize their divorce agreements this year have many more options since the most significant rules impacting divorce go into effect on New Year’s Day 2019.”

In a previous blog we dissected how the Tax Cuts and Jobs Act of 2017 dramatically affects spousal support payments. After January 1st, 2019, all payments between former spouses in executed divorce agreements will be treated in much the same way as shared income was during their marriage. In other words, spousal support and unallocated support payments of any kind will no longer be tax deductible by the payor spouse nor will they be taxable to the recipient spouse. It is similar to how child support payments have always been dealt with in family law. No deductions permitted.

An article written for familylawyermagazine.com entitled, New Tax Law Helps & Hurts High-Net-Worth Divorce Cases, Locus, CPA, CFP, CDFA, reminds us that there are other changes to the new tax laws and how they will impact the way divorces are settled, and they should be kept in mind when negotiating a divorce settlement. They are:

  • The Personal Exemption. It was reduced to $0 for all taxpayers this year but may return to a $4,000 exemption in 2026 unless laws change again.
  • State and Local Taxes. Deductions for state income and property taxes above $10,000 combined are gone. However, this results in fewer taxpayers being subject to the AMT.
  • Moving Expenses. Unless one of the divorcing spouses is a member of the Armed Forces, expenses incurred separating one marital household into two are no longer deductible.
  • Legal and Professional Service Fees. Tax preparation, investment advisory fees, and your legal fees incurred for tax planning and to obtain taxable alimony are also gone. Some other changes — such as the raising of estate values subject to inheritance taxes — may indirectly impact high-net worth divorce negotiations as the need for advance estate planning vehicles such as Life Insurance Trusts and Grantor Retained Annuity Trusts (GRATs) are reduced.

PERSONAL EXEMPTIONS HAVE BEEN ELIMINATED

As Locus stated above, the new tax laws eliminate personal exemptions for the tax years beginning after December 31, 2017, and ending December 31, 2025. During this eight-year period, divorcing parents will not be able to utilize the personal exemption for dependent children, which means there will be no more negotiating which parent will be eligible to take it.

Before this year, tax filers received a deduction from income for their personal exemptions, including themselves, their spouse, and their children. In divorce and separation agreements it was common for parents with children to negotiate who could use the personal exemption deduction for income and in which year, but not anymore.

CHILD TAX CREDIT INCREASES

Even with the changes in the tax laws divorcing parents will still be able to negotiate which parent will be allowed to claim the “Child Tax Credit”, and which parent will not. Similar to negotiating for personal exemptions, someone involved in a divorce would want to negotiate which spouse gets to claim the “Child Tax Credit”. An income deduction merely reduces taxable income. A “Child Tax Credit” provides a dollar-for-dollar reduction of tax owed. It is an important negotiating tool, and the TCJA doubles the “Child Tax Credit” from $1,000 to $2,000 for children under the age of 17.

Possibly of more importance, $1,400 of the $2,000 credit is refundable to the filing spouse, whereas in prior years the “Child Tax Credit” was not refundable. The “Child Tax Credit” might now be more useful than ever in divorce settlement negotiations because it immediately reduces taxes owed and it is partially refundable.

FAMILY RESIDENCE BECOMES MORE EXPENSIVE

The new limits on deductions imposed by the Tax Cuts and Jobs Act of 2017 will make the prospects of being able to afford to keep the family residence a more challenging proposition. If you took out a home mortgage to acquire your home after December 15, 2017, the TCJA now requires mortgage interest deduction to only be available for interest paid on up to $750,000 of debt on first and second homes combined. However, if your loans for first and second homes combined was created prior to December 15, 2017, you are grandfathered in. This means you have a $1 million limit for interest deductions.

The 2017 tax laws also affect how divorcing spouses will deduct their home mortgage interest payments. According to the IRS the new law suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan.

This means the deduction for home equity indebtedness has been repealed, unless the home equity indebtedness qualifies as “acquisition indebtedness” — ie. it was used to acquire, build, or improve a primary or secondary residence. As written, the repeal of the home equity interest deduction does not have a grandfather provision. This means all equity loan interest, regardless of when the loan was originated, will no longer be deductible if the proceeds of the equity line were not used to buy, build, or improve the primary or secondary residence.

THE WINDOW IS CLOSING

Due to the many changes in the tax laws suffused with much confusion that surrounds the new rules, your ability as a divorcing spouse to tailor your divorce agreements to suit your particular financial needs will disappear in 2019. That’s why you might want to seek guidance from a family law specialist now. Please be warned that many otherwise competent divorce lawyers are not up to speed on many of the new tax changes. So don’t assume that just any family law attorney is capable of guiding you to the best tax results in your divorce. Contact a specialist in family law who is up to date on the latest tax changes that might affect you.

 

 

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2018 MIDTERMS: CIA DEMOCRATS VERSUS GOD’S AGENDA. WHO YOU VOTING FOR? PART 2

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As if the 2018 Midterm Elections aren’t complicated enough consider this factor: The Central Intelligence Agency is in league with the Democrat Party to take control of the United States House of Representatives. At least that’s how economist, columnist and former Reagan Administration Treasury Assistant for Economic Policy Paul Craig Roberts, who was recently banned by Twitter for expressing the wrong opinion publicly, frames it in a guest contribution piece he posted at paulcraigroberts.org entitled, “The CIA in league with the Democratic Party is Moving to Take Control of the House of Representatives.”

This is a very serious issue facing Americans who believe in something called “Freedom”. We do need to come to terms with those with whom we are truly dealing, once we identify who they are.

“An extraordinary number of former intelligence and military operatives from the CIA, Pentagon, National Security Council and State Department are seeking nomination as Democratic candidate for Congress in the 2018 midterm elections. The potential influx of military-intelligence personnel into the legislature has no precedent in U.S. political history,” writes Patrick Martin in the original article posted by Roberts called, “The CIA Democrats: Part one.

Writing for something called the World Socialist Web Site Martin notes the Democrats have gone the way of the military intelligence candidate. If the Democrats capture a majority in the House of Representatives on November 6 candidates drawn from the military-intelligence apparatus will comprise up to half of the new Democratic members of Congress. They will hold the balance of power in the Congressional lower chamber.

Democratic party leaders are known to have actively recruited candidates with a military or intelligence background for competitive seats where there is the best chance of ousting an incumbent Republican or filling a vacancy, frequently clearing the field for a favored “star” recruit, Martin writes. “The Democratic leaders are promoting CIA agents and Iraq and Afghanistan war veterans,” he writes. There are far more former spies and soldiers seeking the nomination of the Democratic Party than of the Republican Party.

The military-intelligence candidates are disproportionately favored by the party apparatus, encouraged to run in districts that are the most likely takeover targets. Military-intelligence candidates account for 10 of the 22 districts selected for the most high-profile attention as part of the “red-to-blue” program, or nearly half, Martin writes. In some cases, military-intelligence candidates have amassed huge campaign war chests that effectively shut out any potential rivals, an indication that the financial backers of the Democratic Party have lined up behind them.

WHAT WOULD A CIA INDUCED DEMOCRAT VICTORY IN 2018 MIDTERMS LOOK LIKE?

Democrat and House minority leader Nancy Pelosi is described as already “plotting her return to the speakership,” laying out an agenda for “when – if – she wins,” Breitbart News reports. The former speaker of the house promises to introduce a package for campaign finance reform as the first bill of the 116th Congress.

Should the Democrats take the 2018 election Pelosi’s next priorities as speaker, she told Politico, would include new gun control laws and amnesty for illegal aliens. “After that, Democrats are looking at lowering drug prices and then will try to work with Republicans on a gun background check bill and protecting so-called Dreamers, undocumented immigrants who were brought to the U.S. as children,” Pelosi told Politico.

If the Democrats win the House we can expect more gun control measures, open border policy, amnesty and sanctuary cities. The Politico article does not mention impeachment, but other Democrats have, so we can expect that too.

A Democrat victory in the 2018 Midterms promises an attack to impeach President Trump while others like Rep. Jerrold Nadler (D-NY), who will likely head the House Judiciary Committee if Democrats take over, will continue investigating United States Supreme Court Justice Brett Kavanaugh.

If November’s elections put the chairman’s gavel in Nadler’s hand he expects the House Judiciary Committee to immediately subpoena records from the White House and the F.B.I. and try to interview Justice Kavanaugh’s accusers and the dozens of potential witnesses they identified.

BUT WHAT IF GOD WINS THE 2018 MIDTERMS?

All the Democrats have planned for this 2018 election is to gang up with the mainstream media to terminate Trump’s agenda. They have no other platform.

If “God’s Agenda” were to actually affect the 2018 Midterms what might that look like for the average homeless layman on the American street? According to the President of the United States it would begin with more tax cuts. “We are looking at putting in a very major tax cut for middle-income people. And if we do that it’ll be sometime just prior to November … “, POTUS is quoted on Twitter as saying.

Fortune.com cites the president as floating the idea of a 10% middle income tax cut. Critics argue that might be a better idea if there were actually a middle class left in America to tax.

President Trump has also told us that we can expect this election to be about law and order which means he will continue his quest to drain the Washington D.C. swamp. There have also been less than subtle indications that Trump could maneuver to break up corrupt monopolistic institutions like big media, the Silicon Valley, and big pharma.

And what about the national debt that is almost $22 trillion strong and growing, exponentially? We can only imagine how steep the debt will climb after America’s next qualitative easing binge which we are quickly approaching. How much more debt will we then be printing up just to keep our central banks afloat?

President Trump was brought aboard the revolution by American patriots and U.S. military leaders so he could deal with a country in bankruptcy and at never ending war. With tremendous backing he is using a multi-prong attack on our economy by bringing back to the U.S. manufacturing, employment, and tax cuts for the average citizen. He is instilling strength into what would otherwise be a truly bankrupt domestic economy. That’s why we will continue to see heavy finger pointing at the Fed by our presidential Tweeter.

President Trump holds the Federal Reserve Bank directly responsible for our country’s financial problems. He’s been heavily critical of the Fed for raising rates and acting way too independent for any of our good. The central bank operation acts on behalf of central bankers only. There’s no consideration given to us the people of America or the world or the economic realities we face every day. That’s why Trump blames the Federal Reserve for badly damaging the American real estate and automobile markets by pricing out consumer loans.

So what is going to happen to America’s debt problem with the Fed after the election? One option is to default on it. Completely erase the debt like Trump is said to have done with Puerto Rico. But that would wipe out central banking as we know it here in the U.S. and that’s probably not going happen if Democrats win the House and impeach Trump.

So does prosperity ever come into play for our families in all of this? Do we have to drain the swamp in the financial system too just so our children will have a future to live for? And does that mean getting rid of the Federal Reserve might be a good idea?

American politician and former businessman David Stockman believes it does. “There is no need for central bankers at all when it comes to economic growth, jobs, incomes and prosperity,” Stockman writes via contra corner blog.

If there’s no need for the Federal Reserve Bank then what will American families need to do to succeed financially? “Work, effort, production and enterprise are what create both current income and future growth,” Stockman writes. “Demand flows from supply and spending flows from income; capitalism doesn’t need any U-3 obsessed central bankers to make it all happen.”

Simple economics of which President Trump seems well aware. We need to bring U.S. dollars and manufacturing back home, with jobs to run them, of which we are beginning to see the results.

Which is probably why the Chicago Tribune recently called the United States the most competitive economy on the planet. We are beginning to witness prosperity and the mainstream media is reluctantly telling us about it. Maybe that’s how God planned it the whole time.

Like the New York Times declaring in a major headline: “Competitiveness Rank Of No. 1 Makes It Official – U.S. Economy Is Great Again”. God is talking through Trump to the people of the world and the mass media is starting to take notice.

Did you see the World Economic Forum just named President Trump’s America as having the best economy in the world. That’s our America too. Yours and mine. And maybe we will be great again some day. The Midterm Elections are going to play a big part in that. Especially if there’s a “Red Tsunami” that’s all part of “God’s Agenda.”

 

IS GOD RIDING HIS SURFBOARD TO THE “RED TSUNAMI”? PART ONE

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Like many of those who suffer from PTSD, former firefighter Mark Taylor knows what it’s like to fight through sleepless nights of sweat while facing an unbearable attack of mind, body and soul from forces greater than oneself. It’s a scuffle to survive, where the will to live can become weak with fever as the desperate struggle for truth becomes paramount for existence. For Mark Taylor it’s always been about him recognizing God’s guidance to truth in time of need to help raise awareness to a greater understanding of The Creator’s relationship with the awakening of the collective human consciousness.

In 2011 Mark Taylor had already predicted Donald J. Trump would become president of the United States. He wrote a popular book about it called Trump Prophecies and they made a terrific movie out of his book.

The humble prophet has also predicted former U.S. President Barack Obama will be going to prison and President Trump is going to appoint a total of 3 to possibly five new “Constitutionalist” United States Supreme Court Justices before he leaves office. The recent political battle against the Democrat Socialist Leftists just to get Judge Brett Kavanaugh to the U.S. Supreme Court is Trump’s second of five SCOTUS (Supreme Court of the United States) victories.

Taylor is a proponent of bringing to light the severe PTSD issues firefighters face. He says that firefighters and other first responders suffer from PTSD with similar frequency as do military war veterans and police officers. Taylor speaks publicly to bring about answers to complicated problems that face citizens living in every community in America.

Regarding the upcoming 2018 Midterm Elections Taylor says the conclusion is foregone. “It’s going to be a Red Tsunami,” he says.

IT’S GOING TO BE A RED TSUNAMI

Donald J. Trump has played a major roll in helping to save America from a deep threat stemming from multiple fronts. He has helped stave off a complete collapse of the global financial system, helped reduce unemployment in the African American community, and is helping to bring prosperity to the American economy in ways we haven’t seen in decades.

As promised President Trump is lowering taxes and taking on the Communist Chinese regime with tariffs and a trade war that is helping to balance the world economically. China’s communist regime has been out of control for many years and they have played a major part in the problems that plague America domestically in every facet of our country.

With one hand President Trump is giving tough love to Russia and pulling out of the landmark nuclear weapons treaty over Russia’s new impossible to defend against hypersonic missiles while pointing the big finger of the other hand at the Federal Reserve Bank as a major culprit in the blowing up of our domestic economy, the ever expanding U.S. debt, and the financially devastating raising of interest rates.

Trump has been attacked from the mass media and the left ever since he announced he was running for president back in 2015. The whole focus of the left is to at all costs remove Trump from power. They’ve been citing his agenda as an excuse, the talking heads of the leftist mainstream media distorting facts and disinforming the world to shape a confused public opinion.

So what exactly is Trump’s agenda? Is it to destroy the Democratic party so the Republicans can win the House and Senate? Is it to destroy the Federal Reserve Bank and return printing America’s currency to the United States Treasury?

Actor James Cromwell calls it “nascent fascism,” and warns of “revolution” with “blood in the streets”, which means Trump supporters are nascent fascists and it will be their blood flowing in the streets.

Mark Taylor says it’s all about humility. He says the President isn’t pressing any kind of agenda. Taylor calls President Trump the same type of down to earth human being acting as a servant of God as he turned out to be. President Trump is humbly serving the will of God and this is not about his having an agenda at all.   What this is about is God’s Agenda.

GOD’S AGENDA IN REAL TIME U.S. POLITICS

If God’s Agenda applied to present day politics the 2018 Midterms might be a good place to show up. Across America there are major political battlefields for state governorships and the U.S. Senate that are going to need to be taken if God’s Agenda is to be fulfilled.

The U.S. House of Representatives provides a key battlefield that has witnessed President Trump stumping all across the country on behalf of GOP representatives. This might also provide a major window into how God’s Plan might (or might not) be applied this November. There appear to be twenty pivotal races that some political experts say are expected to determine which party controls the House of Representatives after voters go to the polls on November 6. The result of this election will reverberate through our family’s futures for generations to come, so we will want to make it count. It’s that important.

Many experts say Democrats already hold the lead. The generic ballot advantage of Democrats in Congressional races in the midterm elections holds steady at around 7.6 percent, says RealClear Politics. This is slightly above the five percent generic ballot advantage most political experts believe Democrats have needed to win a majority in the House since the gerrymandering of congressional district boundaries by Republican controlled legislatures after the 2010 census.

Breitbart News previously reported that only 95 of the 435 House races are considered competitive. Of the 340 House seats that are not competitive, 150 are safely Republican, while 190 are safely Democrat.

Breitbart News estimates that 66 of the 95 competitive races are now likely Republican, while nine are now likely Democrat. Breitbart has classified the remaining 20 key competitive races as election day toss-ups. Nineteen of those seats are currently held by a Republican. Only one is currently held by a Democrat.

As things stand at the time of this publication 209 seats are likely Democrat, while 206 likely Republican. In order to maintain a majority in the House of Representatives, Republicans must win 12 of these 20 key races that are the remaining toss-ups.

Right now the polls give the Democrats the edge in winning the House of Representatives. The truth is there appear to be a range of outcomes in which either party ends up with a majority in the House.

A best outcome for the Republicans scenario according to Breitbart News would have them winning 14 of these remaining 20 toss-up races and emerge with a narrow five vote margin over the Democrats when the 116th Congress convenes in January. That would make the score 220 Republicans to 215 Democrats.

The best outcome for the Democrats would see them running the table on these 20 “toss-up” races and end up with a 23 vote majority in the 116th Congress, 229 Democrats to 206 Republicans.

To do so the Democrats will need the help of the CIA. We will find out why in Part Two of this Midterm Election special.

 

 

DOES THE U.S. HAVE ENOUGH GOLD TO BACK THE NEW U.S. DOLLAR?

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The U.S. dollar as we know it is about to be replaced by a new currency. We don’t know when. It could be this year, or maybe next year, we don’t know. The question is not if? the Federal Reserve Note (U.S. Dollar) will be replaced but when? When it does, it’s going to have to be gold backed with value. Real assets like gold will have to back the new U.S. dollar at least in part for America, and Americans, to get back onto the global financial carousel with economic independence and the ability to coexist with foreign currencies that are backed by gold.

The important question to us as Americans with family members to provide for and a desire to see our spending power grow is how much if any gold does the U.S. actually possess? A legacy of secrecy still surrounds how much gold America has, author James Ledbetter, editor of “Inc. magazine” and the author of “One Nation Under Gold: How One Precious Metal Has Dominated the American Imagination for Four Centuries”, writes for the Los Angeles Times. “Some of the conservative and libertarian figures who demand that the Federal Reserve be audited, for example, grumble that there may be a lot less gold — maybe none! — in Fort Knox than official numbers allow,” Ledbetter writes.

Others believe U.S. central bank vaults possess more gold than America’s been letting on to. On August 21, 2017, Bloomberg reported that U.S. Treasury Secretary Steve Mnuchin had paid a rare official visit to Fort Knox to in fact confirm the nation’s gold stash.

Is our financial inventory in tact? U.S. Treasury Secretary says it is, sort of.

“I assume the gold is still there,” Mnuchin, a former Hollywood producer, recently told an audience 40 miles north of the U.S. Bullion Depository. After the visit, the Secretary of the U.S. Treasury playfully reassured America that the treasure was still secure. But is it? What if Mnuchin is wrong? Or lying? And what if the U.S. really doesn’t have enough physical gold to back the greenback?

DO WE REALLY HAVE ANY GOLD?

Our President appears to believe in a gold standard but he has expressed doubts as to America’s status as a present legal custodian of the precious metal. “We used to have a very, very solid country because it was based on a gold standard,” Ralph Benko of Forbes cites President Trump in March 2016 as telling WMUR television station in New Hampshire, “but it would be tough to bring it back because we don’t have the gold. Other places have the gold.”

Other places have the gold and America does not? Could that be true?

As if doubling down on our president’s position regarding America’s gold possessions Benko cites Trump as telling GQ: “Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We’d have a standard on which to base our money.”

Which makes it all seem obvious that there’s no way the U.S. actually has the gold to back a new currency, right? Wrong, Ralph Benko writes, objecting strongly to the President’s position saying Trump has been misled to believe that “we don’t have the gold. Other places have the gold.” The United States, Germany, and the IMF have about as much gold as the rest of the world combined, Benko informs us, with America having well more than Germany and the IMF combined.

America claims to hold 8,133.5 tons of physical gold in its official reserves. Fifty-eight percent is reportedly held in Fort Knox, Kentucky, 20 percent at West Point in New York, 16 percent is said to be at the U.S. Mint in Denver, Colorado, and five percent is held at the New York Fed, an RT article says.

Singapore’s BullionStar precious metals expert Ronan Manly is quoted as telling RT that America’s actual gold reserves are likely much smaller.

“The entire story around the U.S. gold reserves is opaque and secretive. There has never been a full independent audit of the U.S. gold reserves, and the custodians of the gold, the U.S. Mint and the Federal Reserve of New York will not let anybody into the vaults to view the gold or to count it,” Manly told RT.

Besides, even if there were gold in American vaults there’s a very serious question as to the purity of the precious metal.

“Even the details that have been provided on the supposed U.S. gold holdings show that a majority of the gold bars are low purity and in weights that don’t conform to the industry standard ‘Good Delivery’ gold bar specifications,” Manly is quoted as telling RT.

This would make the gold un-tradable on the international market because of its low quality. There have been rumors that in the past the U.S. government has attempted to pay off debts with China using tungsten bars painted gold. China was reportedly deeply unimpressed with this payment method and returned the tainted bars back to the U.S.

WHERE WILL AMERICA GET GOLD TO BACK ITS NEW CURRENCY?

Like they say, if you’ve got it, show it. There’s a major question as to whether America actually does have the gold to back a new U.S. currency. If we don’t, where are we going to get it and how much will it cost?

President Trump has already told us that we don’t got it and someone else does. We know Russia has been buying up gold like there’s no tomorrow. China’s Royal Families and Elders are said to possess tremendous amounts of “unofficial” gold and other precious treasures from the ancient past. If we don’t have it in the U.S., would we get our gold from Asian countries in spite of the trade wars, billions of dollars in tariffs, South China Sea military standoff, and North Korea?

Or would we get our gold from Russia whom we’ve been targeting with the nuclear war drum roll for decades? Would Russian President Putin just forgive the United States for bringing the Communist Curtain down upon all Russian people in 1991, the destruction of the ruble, and the deaths of more than a million Russian people whose lives depended upon it, and just give the U.S. another 70 million metric tons of gold as the Russian Tsar reportedly did back in 1913 to help gold back the Federal Reserve Bank and the U.S. dollar?

There are rumors, myths, and stories that there are other greater hoards of golden wealth stashed out there in other countries belonging to someone that has yet to be legally established in the public eye. Might they lend a few million ounces of precious metals to Uncle Sam to help us in a time of need? Or not?

The rest of the world is turning to a gold standard. Our president and members of congress think gold backing of the U.S. currency would be a good idea. The Federal Reserve Bank and the Federal Reserve Note are breaking. The U.S. dollar and all markets tied to it are exploding into thin air on a global scale. Who’s going to give America its gold and save us? Who’s going to give our families a break?

Singapore’s BullionStar precious metals expert Ronan Manly is quoted as telling RT that America’s actual gold reserves are likely much smaller.

“The entire story around the U.S. gold reserves is opaque and secretive. There has never been a full independent audit of the U.S. gold reserves, and the custodians of the gold, the U.S. Mint and the Federal Reserve of New York will not let anybody into the vaults to view the gold or to count it,” Manly told RT.

Besides, even if there were gold in American vaults there’s a very serious question as to the purity of the precious metal.

“Even the details that have been provided on the supposed U.S. gold holdings show that a majority of the gold bars are low purity and in weights that don’t conform to the industry standard ‘Good Delivery’ gold bar specifications,” Manly is quoted as telling RT.

This would make the gold un-tradable on the international market because of its low quality. There have been rumors that in the past the U.S. government has attempted to pay off debts with China using tungsten bars painted gold. China was reportedly deeply unimpressed with this payment method and returned the tainted bars back to the U.S.

WHERE WILL AMERICA GET GOLD TO BACK ITS NEW CURRENCY?

Like they say, if you’ve got it, show it. There’s a major question as to whether America actually does have the gold to back a new U.S. currency. If we don’t, where are we going to get it and how much will it cost?

President Trump has already told us that we don’t got it and someone else does. We know Russia has been buying up gold like there’s no tomorrow. China’s Royal Families and Elders are said to possess tremendous amounts of “unofficial” gold and other precious treasures from the ancient past. If we don’t have it in the U.S., would we get our gold from Asian countries in spite of the trade wars, billions of dollars in tariffs, South China Sea military standoff, and North Korea?

Or would we get our gold from Russia whom we’ve been targeting with the nuclear war drum roll for decades? Would Russian President Putin just forgive the United States for bringing the Communist Curtain down upon all Russian people in 1991, the destruction of the ruble, and the deaths of more than a million Russian people whose lives depended upon it, and just give the U.S. another 70 million metric tons of gold as the Russian Tsar reportedly did back in 1913 to help gold back the Federal Reserve Bank and the U.S. dollar?

There are rumors, myths, and stories that there are other greater hoards of golden wealth stashed out there in other countries belonging to someone that has yet to be legally established in the public eye. Might they lend a few million ounces of precious metals to Uncle Sam to help us in a time of need? Or not?

The rest of the world is turning to a gold standard. Our president and members of congress think gold backing of the U.S. currency would be a good idea. The Federal Reserve Bank and the Federal Reserve Note are breaking. The U.S. dollar and all markets tied to it are exploding into thin air on a global scale. Who’s going to give America its gold and save us? Who’s going to give our families a break?

 

 

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WHAT HAPPENED TO HR 5404 – AND THE GOLD BACKING OF AMERICA’S NEW CURRENCY?

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It’s tough being a kid growing up in these times of civil war and deprivation where censorship runs rampant and the many layers of falsehood are often confused for truth. We’ve seen up close the horrors of pain and desperation etched onto the faces of hungry American children and frail elders alike. Our food and water is poisoned, geoengineering is making us ill and destroying the environment in which we live, and fires endlessly burn us out of our homes, jobs, and air. The economy has turned many of us into financial slaves and we can feel the devastation of loved ones falling apart right before our helpless eyes.

Our children are our futures yet they suffer from the darkness of a financial insecurity of which they are yet unaware. Many families don’t have enough money to make ends meet on a monthly basis which means they don’t have the financial wherewithal to keep their families together, to fill their children’s bellies with nutritionally balanced meals, or to clothe them properly from head to toe. Choices with profound implications have to be made under every roof every day. Irreversible sacrifices are being taken. Bills are not getting paid, medicines or food or both are not being bought, and almost all of this has to do with scarcity in the name of the American Dollar.

WHAT HAPPENED TO HR 5404?

One of our biggest problems is that the U.S. dollar has basically become worthless, rendering our purchasing power of goods and services in the marketplace to near nothingness. We’ve been fleeced through the last hundred or so years by the United States Federal Reserve, fiat currencies, and the Western Central Banking System. They who run finances have scraped 97% of the wealth out of the U.S. dollar which has benefited their well beings while we the average American family are left with the last three cents on the dollar which is backed by nothing but growing U.S. debt. Which is now more than $21 trillion dollars and that’s not counting the $21 trillion that has been proven missing from the HUD and the DOD. That’s at least $42 trillion right there that our children and their children and their grandchildren will never be able to account for.

Which all the more proves why it is significant that a Congressman from West Virginia has proposed a bill called HR 5404 to gold back the U.S. dollar. According to thedailycoin.org Republican Congressman Alex Mooney has proposed a bill that will “define the dollar as a fixed weight of gold.” Mooney wrote an op ed about it in the “Wall Street Journal”.

That’s right. It has been introduced into congress that America should return to a gold standard. This idea is not new though. Even President Trump told us back in 2017 that he would like to see America return to a gold standard. In a Forbes.com article entitled, “President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again”, Ralph Benko writes that bringing back the gold standard would not be very hard to do with a president like Trump.

“Donald Trump shows a strong affinity for gold,” Benko writes. “He has also shown a keen intuitive grasp of how the gold standard was crucial to having made America great.”

So what this means is that our government is soon going to gold back the U.S. currency, right? That’s how it was supposed to be in the very beginning, before the Federal Reserve took over our country’s finances in 1913, right?

In proposing H.R. 5404 the U.S. Congressman from West Virginia criticizes U.S. monetary policy, citing the fall in the dollar’s purchasing power after the gold standard was abolished.

“The United States dollar has lost 30 percent of its purchasing power since 2000, and 96 percent of its purchasing power since the end of the gold standard in 1913,” the bill says.

The congressman goes on to describe the advantages of having a gold-backed dollar.

“The gold standard puts control of the money supply with the market instead of the Federal Reserve. The gold standard means legal tender defined by and convertible into a certain quantity of gold. Under the gold standard through 1913, the United States economy grew at an annual average of four percent, one-third larger than the growth rate since then and twice the level since 2000,” Mooney says.

This would be good for us but nobody even knows about it. Did you? Nobody owns gold, instead everybody trading in dollars that are debt backed, which is what the U.S. dollar is and what America runs on. That’s all any of us own with our present financial system, which is being run into the ground.

Congressman Mooney says that under the Federal Reserve’s 2 percent inflation objective, “the dollar loses half of its purchasing power every generation, or 35 years.” Think about that for a long moment. We own debt that backs our assets and that’s what we bought our houses with. Our families’ homes and our cars were bought with U.S. dollars backed by debt that loses half it’s value every generation.

So what does that really say about everyone’s pensions or real estate that is tied into the U.S. dollar? Is that why we’re struggling so badly to keep our families living in some semblance of the lifestyle we have become accustomed to after we divorce? Is there any such thing as the “American Dream” anymore? If so, should we consider whether this new legislation, H.R. 5404, should become law? Because our old system of monetary value has lost its “value”?

Like Congressman Mooney says, “American families need long-term price stability to meet their household spending needs, save money, and plan for retirement.”   These are the types of important issues we advise clients about to help them and their families stay ahead of the financial game and move forward in their lives. Meet spending needs, save value, and invest for ultimate retirement.

HOW MUCH GOLD DO WE AMERICANS OWN?

In an interview with the World Gold Council’s Gold Investor former Chairman of the Federal Reserve Alan Greenspan stated, “I view gold as the primary global currency.”

President Trump agrees. It’s been 34 years since U.S. lawmakers even tried to change the way America’s currency is backed, when Congressman Jack Kemp introduced the Gold Standard Act of 1984, which was cosponsored by seven others including Newt Gingrich and Connie Mack. It didn’t pass. 34 years later we have HR 5404.

Will it succeed? It has to if we as a country are going to succeed. Some believe we’ve made positive strides toward making gold backing of our currency a reality. “I think we are building a foundation of expertise — expertise that we didn’t have in 1980,” writes Nathan Lewis in Forbes in an article called, After 34 Years, We Again Have A Bill To Relink The Dollar To Gold“. “That will allow us to restore the united long tradition of gold-based money, when the political time is right.”

The question remains: when will the political time be right? And when it is right, who will be there to tell us how much gold, if any, the U.S. really owns to back the dollar?

Divorces Rise as Economy Improves

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Recent Spike in Divorce Filings Tied to Economy

Like everything else, divorce statistics are cyclic. With the U.S. economy reportedly on an upswing after a six-year recession, couples continually unable to resolve financial problems are deciding to call it quits. The federal government’s National Center for Health Statistics reports a rise in divorce filings for the third year, reportedly signaling a recovery of the ‘great recession,’ which reportedly hit rock bottom in 2008. Finances are frequently one of the most common stressors in many relationships. Marriage further complicates many ‘financial issues’ faced daily if the couple is out of sync in their views and practices of  personal finance. While one partner in the marriage may be frugal with money, a partner who is reckless with finances could instigate financial woes that the couple must resolve together. If weathering the debt storm as a couple becomes impossible, the next step might be dissolution.

Many options are available for divorcing couples when both parties wish to remain amicable. Couples who are not able to end the marriage amicably will need a ‘traditional divorce,’ requiring an attorney who will fight their battle before a judge to protect their marital interests. Using a board-certified family law specialist to represent a party in the process allows for informed decisions about the dissolution process and settlement. Simple divorces can be complicated for litigants representing themselves. Because of this, many do-it-yourself cases languish in the court system for years.

Cooperative and Non-Traditional Divorce

Rent-A-Judge, Mediation, Collaborative are all non-traditional paths to divorce many couples take when they are agreeable to ending the marital contract. Divorce can affect the quality of a person’s  lifestyle for the rest of his/her life. So whatever method is chosen, it is necessary to be informed of the options and how they work.

Rent-A-Judge

Private judging, known as “Rent-a-Judge,” involves a private process in which divorcing parties give a private individual the power to hear and decide their case. Private judges are an ideal alternative for wealthy couples who want their dissolution settled privately, quickly and amicably.

Mediation

Mediation is used to settle disputes as well as divorce while remaining flexible and confidential. With mediation, a neutral third party works with the couple to develop a settlement agreement. The neutral third party is known as the mediator. The mediator assists the couple in their decision making process. Mediators help keep the couple focused on the issues at hand while keeping them on track toward a settlement. Sometimes agreements come easy and sometimes they take time and a lot of work. When agreements are hard to reach, it’s the mediator’s job to intervene. Mediation has the ability to help the couple learn to communicate again and possibly make their post-divorce relationship better than their married one.

Collaborative Dissolution

Collaborative divorce was designed to resolve conflicts in a mutually agreed-upon process. Rather than turning the decision-making power over to a judge or other third party, control of the dissolution process is kept with the people directly involved in the marriage. Clients and their individual attorneys are at the heart of helping explore solutions for planning into the future. If children’s issues are part of the marital dispute, their needs are always placed first. Through the collaborative process documents are drawn up consensually and a settlement agreement is not signed until both parties are comfortable with the final agreement. The respective lawyers are disqualified from representing either party in any future family related litigation if the collaborative process fails.

When Divorce Requires Hiring An Attorney

If your situation requires the expertise of an attorney, remember that you must be prepared to share intimate details about your marriage, finances and personal life.  A big complaint about family court is that the process is too complicated and there are too many time consuming forms and procedures. Organizing your personal finances and important documents in chronological order will assist your legal team to help keep your finances intact and your legal fees down. Do not confuse your attorney with your therapist. When calling your attorney the time clock is ticking whether you have an actual legal question or if it’s just to complain about your spouse.

Your attorney should share your views and philosophy on divorce, especially if it is your intent to keep things cooperative and non-adversarial. If you make sure your lawyer understands you want an amicable divorce upfront, that’s what you will get from a board-certified family law specialist.

CENTRAL BANKSTERS DESTROY FAMILY BY NATIONALIZING PENSIONS

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Remember the good ole’ days when Uncle Sam was pounding the war drums threatening to blow Syria away and kill all the citizens as collateral damage, and all we were worried about was putting food on the table.  We read about it everywhere, all the talking news heads telling us how we should go in and bomb and kill, poison gas, Al Qaeda, Saudi Arabia, extremists, and all that stuff, and then…it all stopped.  Prez tucked his tail beneath his coattail, took an about face, and went about other presidential biz.

Of course, the mainstream media didn’t really cover the financial aspect of what was going on in Poland at the time, and how that might have a significant impact on the finances of Americans with families today.  Coincidence?  Probably not.  Most probably the central banksters who own all the mainstream media just didn’t want to bother us with the worry that Poland’s government was going to confiscate half of the country’s pension funds in a falsely futile attempt to delay an impending government debt crisis.  Hmmmm…where have we heard this one before?

Now, if in the Polish government’s lack of truth and wisdom they can further erode the foundation of family survival over there with such short-sighted policies, how long will it take for such short-sightedness to hit our shores?  The idea there was to transfer all bond investments in privately owned pension funds within the state-government system into the government pension system.  For now, the idea goes, private pensions in Poland will be allowed to keep equity investments, which in the Polish state-guaranteed pension system tend to be about half of all private pension investments.

The idea for show is to reduce the Polish national debt.  According to Polish government officials, with the slowing economic growth, grim job outlook, and declining tax revenues, Poland has been forced to borrow in an effort to maintain the country’s large social welfare system without imposing austerity measures.  Although they’re not calling it nationalization, for all intents and purposes, Poland is in the process of nationalizing all pensions.  Government officials have argued that the overhaul avoids the more radical options of taking both bond and equity assets away from the private retirement funds outright, which would be a more comprehensive government confiscation program. This move acts as a central bankster sponsored follow up financial indicator to what the Mediterranean island-nation of Cyprus did last year when, in an effort to raise 6 billion euros to meet a condition set by international banksters, they confiscated 10 percent of all bank accounts.

The nationalization of pensions is one more in a series of dominoes the central banksters will attempt to topple as they reach deeply into our pockets to take everything we’ve got.  If our families are going to survive this financial onslaught that is being levied upon us, we’re going to have to prepare for it.  We’re going to have to do the research, and make a plan.  And we’re going to have to eventually get rid of the parasitic central banksters once and for all.  After all, it’s either them or us.  And the central banksters have proven they don’t really care about our families.

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