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Informing Hawaii's voters

Paul Craig Roberts Connects the Dots on Washington's Baffling Actions

Good interview with Paul Craig Roberts brings to our attention a change that the Fed, Comptroller of the Currency and the FDIC have made in bank requirements that will have a negative effect on the value of state and local municipality bonds, which in turn will ripple out across entire local government structures. That includes us right here in Hawaii, meaning we are facing an escalation in the looting of our local assets.

Roberts, among the distinct minority of us who has training, knowledge and experience in government economic matters, follows by looking at the big picture of the new U.S. sanctions against Russia, attempting to answer, "Why? Why these particular sanctions?"

17-minute radio interview with King World News

Click here to listen

Will Swiss Vote to Get Their Gold Back from U.S.?

On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the SNB's assets. Arising from popular sentiment similar to movements in the United States, Germany, and the Netherlands, this referendum is an attempt to bring more oversight and accountability to the SNB, Switzerland's central bank.

The Swiss referendum is driven by an undercurrent of dissatisfaction with the conduct not only of Swiss monetary policy, but also of Swiss banking policy. Switzerland may be a small nation, but it is a nation proud of its independence and its history of standing up to tyranny. The famous legend of William Tell embodies the essence of the Swiss national character. But no tyrannical regime in history has bullied Switzerland as much as the United States government has in recent years.

The Swiss tradition of bank secrecy is legendary. The reality, however, is that Swiss bank secrecy is dead. Countries such as the United States have been unwilling to keep government spending in check, but they are running out of ways to fund that spending. Further taxation of their populations is politically difficult, massive issuance of government debt has saturated bond markets, and so the easy target is smaller countries such as Switzerland which have gained the reputation of being “tax havens.” Remember that tax haven is just a term for a country that allows people to keep more of their own money than the US or EU does, and doesn't attempt to plunder either its citizens or its foreign account-holders. But the past several years have seen a concerted attempt by the US and EU to crack down on these smaller countries, using their enormous financial clout to compel them to hand over account details so that they can extract more tax revenue.

The US has used its court system to extort money from Switzerland, fining the US subsidiaries of Swiss banks for allegedly sheltering US taxpayers and allowing them to keep their accounts and earnings hidden from US tax authorities. EU countries such as Germany have even gone so far as to purchase account information stolen from Swiss banks by unscrupulous bank employees. And with the recent implementation of the Foreign Account Tax Compliance Act (FATCA), Swiss banks will now be forced to divulge to the IRS all the information they have about customers liable to pay US taxes.

On the monetary policy front, the SNB sold about 60 percent of Switzerland's gold reserves during the 2000s. The SNB has also in recent years established a currency peg, with 1.2 Swiss francs equal to one euro. The peg's effects have already manifested themselves in the form of a growing real estate bubble, as housing prices have risen dangerously. Given the action by the European Central Bank (ECB) to engage in further quantitative easing, the SNB's continuance of this dangerous and foolhardy policy means that it will continue tying its monetary policy to that of the EU and be forced to import more inflation into Switzerland.

Just like the US and the EU, Switzerland at the federal level is ruled by a group of elites who are more concerned with their own status, well-being, and international reputation than with the good of the country. The gold referendum, if it is successful, will be a slap in the face to those elites. The Swiss people appreciate the work their forefathers put into building up large gold reserves, a respected currency, and a strong, independent banking system. They do not want to see centuries of struggle squandered by a central bank. The results of the November referendum may be a bellwether, indicating just how strong popular movements can be in establishing central bank accountability and returning gold to a monetary role.

Hawaii Road Rage Incident Goes Viral

740,000 views in three days.

Published on YouTube Sep 10, 2014

Caution: Offensive language

Ryan Arakaki introduction: This lady [?!] was looking down at something, maybe on her phone or something else but there was a good car and a half length of free space in front of her so I changed lanes (she was completely still, not moving at all waiting for red light to change). As I made my turn I could hear the lady's [sic] horn blaring. I looked in my rear view and I could see she was visibly upset. She continued to tail gate me and follow me closely. She then tried to either overtake me or get on the side of me to try and run me off the road. She did this a few times. I slowly drove the speed limit and made it to a shopping center near by. At this point the lady continued to follow me and I knew she wasn't going to let me go so I took out my phone and started recording her. The following is what happened.


See: Angry driver tells her side of the story.

Ted Cruz Booed by Middle Eastern Christians, Walks Off Stage after Insulting Audience

Senator Ted Cruz (R-TX), giving a speech to a group called "In Defense of Christians" in Washington, DC, said that "Christians have no greater ally than the Jewish state,” which was met with groans from the audience. He immediately followed with, "Let me say this. Those who hate Israel hate America," which drew an even stronger negative reaction.

Congressmen Call for Declassification of 28 Pages of 9/11 Report

Canadian Govt Warns Citizens about US Police Thieves

The Myth of Reliable, Cost-Effective Green Energy

Governor Neil Abercrombie at Ribbon Cutting Ceremony for Oahu's First Wind Farm. Mar 24, 2010/photo by Gov Abercrombie

U.S. News

Obama's Green Unicorn

The true cost of renewable energy is being masked by government subsidies and bailouts.

By Peter Roff

August 25, 2014

America is about as likely to become reliant on green energy to meet its baseload power requirements as a unicorn is to stroll down the middle of Washington’s Pennsylvania Avenue during rush hour followed by a pink elephant.

It’s just not happening – but that’s hasn’t deterred the modern day snake oil salesmen and their allies inside the Obama administration from continuing to make a push for wind and solar power as an eventual replacement for energy generated from traditional sources like coal, oil and natural gas. Renewable technology has improved, no doubt, but it’s a long way away from being ready to make a substantial contribution to the heating of our homes and the powering of our businesses unless the generous tax subsidies that create the illusion of cost competitiveness continue.

There’s nothing wrong per se with the pursuit of renewable energy; it’s just that what it actually costs is being masked by taxpayer subsidies, federal loan guarantees and renewable fuels mandates at the state level that force power companies to put wind and solar into the energy mix, sometimes at two to three times what traditional power costs. Ultimately, one way or another, the taxpayers and energy consumers are footing the bill even if they don’t know it.

Read more . . .

Link:

Bad Vibrations: Health Hazards of Geothermal and Wind Turbine Noise [Hawaii Reporter] Nov 26, 2012

Hawaii in Top 5 of the 50 States for Debt Burden to Taxpayers

Watchdog.org

By Malia Zimmerman

September 2, 2014

HONOLULU — A report by a fiscal watchdog deems Hawaii one of the worst “sinkhole” states for its growing debt burden to taxpayers.

Chicago-based Truth in Accounting reviewed the finances of every state, focusing on unfunded liabilities such as pension and health care obligations to current and retired public-sector workers, for its annual “State of the States” report.

Only Massachusetts, New Jersey, Illinois and Connecticut are in worse fiscal condition than Hawaii.

Read more . . .

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