Loading ...There is much more oil available now than in 1960. Refineries are far more efficient too, producing a much better product for less inputs. Gas should be cheaper! And as you note, in money terms, it is. But we have been so conditioned to accept, without understanding, that things will always cost more; without understanding that it is actually the currency that buys less. I think I’m finally getting through to the kids (late twenties, early thirties) with this. A dollar saved now is worth sweet FA when you retire. An ounce saved now is worth an ounce forever more. A dollar saved pays you interest now (on which you are taxed) to make it seem attractive as a method of saving (compound interest you idiot! Don’t you understand the power of compounding? You’re supposed to be smart!) all while the dollar is devalued by more printing, devalued by far more than the after-tax interest paid, while the ounce just sits there.
And in the meantime the tax burden just grows, and grows. What is the tax on that gallon of juice now compared to 1960? People must save dollars, because the interest is taxed (and ‘they’ know where the $$ are) and the government needs the income. Loans must remain high so that mums as well as dads need to work to pay the mortgage, as the govt needs the income tax. Property taxes; what genius, you’re forced to work more, to pay more income tax, so you can pay the property tax. Inheritance taxes, wealth taxes, spending taxes; all taxes paid from a depreciating currency by labour slaves to fund an ever-growing bureaucracy.
Part of the answer is KYE. As part of their KYC (Know Your Customer) my bank asked me to verify some details. In my innocence I had always thought KYC was a marketing ploy by banks to pretend that they actually cared about me; check your details, remind you of how to avoid scams, and maybe even suggesting better ways of managing the loans I have made to them. After a phone call, they asked me to bring a document into the branch, ‘to be confirmed’ was the exact phrase. OK, except that they wanted to scan the whole thing. “Why”, asks I? “So we (the bank) can be sure we are complying with the Money Laundering Act.”. “Oh really?” says I. “Perhaps you could tell me under what provisions of the Anti-Money Laundering and Counter Terrorism Act Financing Act 2006, to give it its full title (you bozo, bet you didn’t know that), you require this information?” Silence. Then “If you don’t provide this information, we shall have to put a stop on your accounts.” I refused. Said it was private, that they don’t need it and they can’t explain why they want it. She said she would file it as a complaint and I would get an email. I got an email. I asked for the specific sections of the Act that required the information, and got another email, ignoring my request, saying the complaint was dismissed and to come into the branch again with the document. Before replying, or just closing the accounts, I left it a day to calm down, and then received another email. A grovelling apology for the ‘unclear communications’. They have everything that they need already. Just another phone call to tick a couple of boxes and everything will be fine. “Please contact us at your earliest convenience so we can complete this step.”
KYE. Know Your Enemy.
KYE. Why I’m reading the quran.
KYE. Almost a full time job in these days.