Biden's Massive Cap Gains Tax Hike, The Yen, And Investing

[cmartenson (Chris Martenson)]

Originally published at: Biden’s Massive Cap Gains Tax Hike, The Yen, And Investing – Peak Prosperity

Will this be the year that the “”markets”” get away from the Fed and their dedicated public-private Wall Street manipulation crew? If that happens, will that be the pressure that finally pulls the Great Taking trigger?

Listen, if you found yourself alarmed at any point by the 99.95% survival rate of Covid, you are positively going to be impacted far more significantly – directly or indirectly- by the economic turmoil that our weak leaders have all but ensured is on the way.

Paul Kiker and I discuss the Japanese yen, the (seemingly) insane proposal by Team Biden to jack up capital gains tax rates from 24% to 44.6%(!!), and the possible impact of the newly and unilaterally declared ‘climate crisis’ on markets and portfolios.

If these and many other terrible policies come to pass, the market impacts could be enormous as people rush to sell their holdings before the new gains rates kick in and/or the new burden of ridiculously expensive electricity begins to bite (as it has in Germany, decimating its industrial base).

Weak men lead to hard times. We’d do better with a package of mop handles running the show, and that’s not hyperbole.

 

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[jisaac]

Can I ask why a capital gains tax hike of all forms of tax hikes is a bad thing?
Why should income from capital gains on investment be taxed at a lower rate than income from doing honest work? Right now the rich at a break in capital gains.

[edmasonfamily]

Hi Chris, Thanks for all you do. I wasn’t sure how I could get this info to you; so I apologize if this wasn’t the place. I wanted to ask you to watch this interview by Clayton Morris on Redacted with Whitney Webb and a gentleman named Derrick Bloze. If you were to only watch one interview, I think the Bloze interview is shorter and you’ll get much of the “agenda” and urgency we’re up against ( 1:29:00 – 1:44:20), but the other interview ((06:45–49:10) is also tied in to the whole theme. I believe this info will be a great benefit in helping you in your efforts to educate and alert your audience. Here’s the link: This WEF plan is DARK and is already 70% COMPLETE! | Redacted with Natali and Clayton Morris

[edmasonfamily]

the link is: This WEF plan is DARK and is already 70% COMPLETE! | Redacted with Natali and Clayton Morris

[edmasonfamily]

I’m sorry the link isn’t showing up in the chat, but you can find it on Rumble under Redacted for today.

[ckessel]

Agree!! I watched it this evening and have been pondering since.
Time is running very short to me these days!

[pb-round]

Interesting conversation, Chris and Paul. You guys really have your fingers on the pulse of the present times, uncharted waters though they may be. Information like this is vital in helping to manage potential risk.

Keep up the good work!

[blaggers]

Yen collapsing against the dollar.
156.52 right now.
Yikes.

[davefairtex]

Oops deleted by mistake.

Patents make the inventor a “single point of failure.” (Tech term for “take out the central point, you take out the entire system”).

My belief is that new energy inventions have been suppressed - for maybe 100 years (since Tesla) - in order to retain the Oligarchy’s oil monopoly.

Otherwise, we might have prosperity. And that wouldn’t do at all.

[pb-round]

@blaggers

Yen collapsing against the dollar

Can’t help but wonder, if the Japanese are converting Yen to dollars, then reinvesting the dollars into China? In a carry trade sort of way?

[davefairtex]

Yeah I don’t think China is Japan’s target. RMB (CHUS) rising = money fleeing the mainland.

Context - sorry the format is a little different:

[blaggers]

Now it’s 157.68.
Wow.
Creak, groan, pop.

[davefairtex]

Wow you aren’t kidding. I just look at yesterday’s quotes. Today - a massive plunge. Sheesh. And my code updates DEXJPUS every day (at 13:30 Eastern) because the Fed is always a day behind.

Big plunge going into the weekend. That “probably” means something. Big Money (in Japan) appears to be in a bit of a panic mode. We’ll see if it turns into something bigger.

“Yen = confetti.” But it won’t end in Japan.

[pagekj (Kimberly Page)]

I wonder what your thoughts are on some murmurings I’ve heard from Lighthowzer? On the trump team about divesting some power from the Fed and giving the administration more power to control interest rates? Kinda along the ideas of what Micheal Every of Rabobank talks about.

[nickythec]

@davefairtex,

I absolutely agree with this… I just recently did way too much of a deep dive into the Invention Secrecy Act of 1952, and the declassified “Armed Services Advisory Board” Review List for patent review and secrecy designations before ANY patent can be granted. They specifically have a category called “Group XI Power Supply”, and two sub sections within that are for any photovoltaics that are >20% efficient or any Energy conversion systems with conversion efficiencies in excess of 70-80%.

We definitely wouldn’t want to have any innovation in those two categories coming to light.

[davefairtex]

Long ago - maybe 20+ years? - I ran across a tale of an inventor who had patented a mechanism for merging (memory says) water and gasoline in a carburetor in an automobile that basically saved 75% of the gasoline consumption. I think this was in the early 2000s. That’s only because I was particularly focused on filing patents at that time.

In spite of my (moderate) experience in filing patents, it kinda makes me think that - if I accidentally invent something revolutionary - I won’t patent it. Who wants to be that “single point of failure”? Feels like it attracts danger, don’t you think?

Just maybe, the USPTO and “ownership” is a deathtrap. Or something.

[irishprince]

The “trap” is that inventors want to secure their inventions by obtaining a patent. This is fine for routine, non-revolutionary inventions. If someone was to invent something truly revolutionary regarding energy efficiency or production; their best course of action would be to put it in the public domain. Let humanity have it for free.

The sad reality is if they actually tried to go the patent route, their invention would be stolen / national security classified and they would never receive any compensation. In fact, they would be lucky not to be run over by a car or poisoned (has happened many times).

[davefairtex]

The “trap” is that inventors want to secure their inventions by obtaining a patent.

I agree 1000%. Because “single point of failure.” Patents last for 20 (or so) years. If you fail to take the Oligarchy’s keep-quiet bribe, you will be eliminated and your poor heirs might just be assaulted for all your trouble. “Here’s a million bucks. Now we own the patent. The inventor ‘died suddenly.’ Now go away, or else you too might ‘die suddenly.’” – Oligarchy.

Alternatively, to secure your life and the emotional well-being of your heirs, if you publish your findings (i.e. you make it impossible for the Oligarchy to obtain a patent by eliminating the “novel/non-obvious” thing) it makes the whole invention available to the world at large.

Hypothetically speaking.

“What is claimed is” doesn’t matter if there is “prior art” that teaches one of ordinary skill how to practice said invention. At least, that’s my memory from days gone by.

[mecheng69]

Glad you brought that up. Water injection was actually used in WW 2. The BF-109E or G, going by memory, had water injection as the avgas wasn’t up to snuff for high altitude. I also seem to remember it was played with prior to the war for the Schneider Trophy. So perhaps your referring to Stan Meyer and his water splitting technology, to run engines on Hydrogen. At any rate you are dead on with the ‘Patent trap’.

Of course I’ve dug around to find some technical info.

[abysmalspectator]

In Australia, capital gains tax used to be calculated on profits after adjustment for inflation. The stated idea for changing from this, iirc, was to simplify taxation calculations by, instead, giving an allowance (half of marginal rate in Australia’s case) to take into account the inflation aspect of the gain in price of the asset. This is related as to why there is no capital gains on an individuals private home - if capital gains were charged then no one would move house as even if there was no intrinsic gain, but just gain to inflation, they would end up in a worse financial position just by moving house.

At least, that was the stated aim. Of course, it encourages asset bubbles and quick flips, and I am sure there were arguments that this bonus would generate economic growth etc. etc. for example land developers do better under the half marginal rate system relative to the old system.

A fair capital gains tax has to take into account inflation somehow, but taxing at marginal earnings rate seems to punish long term capital investment too harshly.

Personally, I think the old system was fairer (assuming fair calculation of inflation by the government…ahahahaha!)