The holidays are over, winter storms are setting in, and cabin fever has many of us suffering from winter blues.
To break out of the seasonal slump, I decided to plan a weekend snowboarding trip. When I checked my online bank account to pay mid-month bills and put some cash aside for the trip, I saw it: my first paycheck of the year — with a 2% pay cut, courtesy of the federal government.
Happy New Year to you jerks, too!
No wonder everyone’s feeling a little dismal these days.
The root of the winter blues…
On January 2, 2013, Obama signed the American Taxpayer Relief Act of 2012 into law.
This essentially translates to tax rates increasing for almost everyone — whether it’s income tax rates for the wealthy, or employee and Social Security tax rate hikes for working individuals.
Bottom line: Taxpayers are giving back a lot more than their “fair share” to the government leech this year.
So the least productive Congressional unit since the 1940s is being rewarded for underperformance, while the rest of us are receiving hundreds of dollars less each month — and, worse yet, risking termination at companies forced to downgrade due to economic turmoil.
National polls show Congress has a historical disapproval rating of 85%, yet Obama is still rewarding them with raises. The average lawmaker received a pay increase of just $900.
The Public Policy Polling just released a shocking report outlining just how unpopular Congress has become — outranking cockroaches, traffic jams, and even the notoriously-detested band Nickelback in popularity.
And our elected officials aren’t winning any approval ratings with the latest news from the Midwest…
New bill threatens your rights to precious metals.
Legislatures in Illinois have introduced the “Precious Metal Purchasing Act.”
Critics argue the act violates certain liberties by enforcing new rules, regulations, and even fees for precious metal purchasers.
According to Gary North with the Tea Party Economist, the new bill means precious metal purchasers would be required to obtain proof of ownership, create a record of the sale, and verify the identity of the seller — or face civil penalties.
Additionally, buyers would not be allowed to pay for the precious metals in cash, but would be required to properly document the alternative method of payment.
Essentially, all gold and silver purchases amounting to $500 or more would be tracked for up to five years and monitored with rules subjecting buyers to fines if they don’t adhere to the new strict legislation.
At this time, the fate of the bill remains in the hands of the House.
This is sad news for private gold and silver owners — and sadder yet for American freedom fighters — because this proposal has taken the government one step closer to the legal ability to confiscate your precious meals, as well as your home and farmland.
Exercise your right to private ownership now while you still can.
Money may be king, but it’s still a serf to inflation. Stay ahead of the curve by hedging your portfolio with safe haven assets.
Just be sure to secure and maintain private possession of precious metals, while you still can.
Now, I want to end this piece on a positive note by saying this isn’t the end…
On the contrary, this is the dawn of a new way of thinking to support a better way of investing and of protecting our wealth and our families.
We must be comfortable with self-reliance and confident and ready to do our own due diligence. And investors must educate and inform themselves on the “system” if they’re going to try to beat it and truly grow and protect personal wealth.
One way to do this effectively is by picking up on macro trends before Wall Street does — and hedging inflation in innovative ways.
It’s also time to take back some of the faith we’ve instilled in our government bodies over the last several decades.
We’ve been holding on to the hope that Congress and our country’s leaders have our best interest at hearts — that they are working tirelessly to find a solution to ease the pain the threats to our livelihoods and our rights as citizens have been facing… but this couldn’t be further from the truth.
And we are dedicated to bring you the news and investment ideas to help you be your own master, personally and financially. More along these lines below…
Best wishes for a prosperous future,
for Wealth Daily