America

Via DoctorHousingBubble.com,

Submtted by C.Jay Engel via The Austrian View blog,

“Like champagne, bull markets remove inhibitions.” –James Grant

In early 2015, after seeing a staggering $1.4 trillion in Euro area government debt trade at negative interest rates (the number has since grown to $6 trillion) we wondered when the bailout of insolvent governments was going to make its way to other debtors. Our question was quickly answered when we found that a negative rate mortgage had been issued by Nordea Credit, a bank in Denmark. Recently, even the WSJ finally stumbled on this bizarre inversion of traditional borrower obligations.

Back in January, when the market was watching in shocked silence as oil prices were crashing to decade lows and as concerns emerged that Saudi Arabia may need to commence selling its vast, if unquantified, USD reserves, we wrote a post titled "Attention Finally Turns To Saudi Arabia's "Secret" US Treasury Holdings" where we noted something very surprising: whereas we do know that Saudi Arabia is the owner of the world's third largest USD reserves...

Friday 15th April was tax day in America, where millions of Americans file their returns with the IRS so as to avoid being prosecuted for ‘illegally’ witholding tax.  However, an IRS agent has recently come forward and admitted that not only is income tax fundamentally unconstitutional, but it is also illegal for the agency to demand that citizens pay it.