Ha, ha, ha.
We knew it would happen.
Ho, ho, ho.
And we’re sure you knew it would happen too.
Hee, hee, hee.
Of course, it’s not really a laughing matter…unless you like paying $5,653.85 for your laughs.
But that won’t be the last of it. The latest government bungle shows that by the time this huge taxpayer-funded folly is finished, the real cost to you will be many times that amount.
It’s time to protect your wealth and savings before the Aussie Welfare State and Australia’s biggest trading partner get completely out of control. Here’s how…
As far as the government and the public sector is concerned, private citizens are second class citizens. They see the private sector (especially individuals) as nothing more than tax fodder.
The role of the State isn’t to protect individuals from each other and abuses from the State. The role of the State is to protect itself from individuals.
A report in today’s Age highlights this view:
‘[Prosecutor] Mr Young said jail was the only appropriate sentence while [Magistrate] Mr Rozencwajg described the conduct as a serious example of the offence made more serious by the subjects being public officials.’
The case involves a man who pointed two fingers at Attorney-General Nicola Roxon and said ‘I’m spewing I don’t have a gun with me…’
In other words, according to the magistrate (himself a public employee), the life of a private citizen (you) is worth less than the life of a public servant. That’s nice to know isn’t it?
But it’s a perfect example of the attitude taken by authorities towards the private sector and individuals. What’s yours is only yours as long as the government allows you to keep it.
Whatever you own is at any point in time subject to confiscation at the whim of jumped-up governments that decide they can better spend your money than you can.
Take the National Broadband Network (NBN)…
The Cost of Fast Internet
Yesterday, communications minister, Senator Stephen Conroy revealed the NBN would – surprise, surprise – cost more than originally thought.
That doesn’t surprise us. We warned long ago that the real end cost will probably be at least three-times the original forecast.
As The Australian reported:
‘The funding required to roll out the super-fast National Broadband Network has blown out by $3.2 billion, with the vast majority of the extra money to come from taxpayer funds.’
The government says the NBN will now cost $44.1 billion. Based on the last Census which showed Australia has 7.8 million households, the NBN will cost $5,653.85 per household.
We’re sure that given the choice, you would happily spend $5,653.85 on an Internet connection too. What’s that? You wouldn’t…we thought as much.
As it happens, when we arrived home last night we saw a letter from our Internet provider, iPrimus. They had written to say that due to an upgrade in the Frankston area we could now use the iPrimus network to get faster speeds.
How much do we have to pay for this upgrade? $5,000? More perhaps? No. It won’t cost us a bean for the upgrade. In fact our monthly bill will be $20 cheaper.
Got that? The private sector can provide us with a better service at a lower cost. While the government has to charge each household $5,653.85 for a service we can’t be sure will be any better than the one we’ve already got.
But as usual, the government thinks it knows how to better spend your money than you. So it forces you to spend thousands on health insurance that you don’t need, and now it’s spending $5,653.85 of your tax dollars on an Internet connection you probably pay about $60 a month for.
The point is, instances such as this prove that you can’t rely on the government to take care of you in retirement. Governments are more interested in squandering your money to build their own legacy.
The Rudd Government’s school-building program wasn’t about improving schools, it was about them saying, ‘Look, we did that.’
The same goes for the Future Fund and the NBN. They’re about using taxpayer dollars to build memorials to boost their ego.
That’s why it’s important to remove as much of your wealth from the system as possible…out of the reach of government meddling…
Investing Outside the System
As we wrote last week, at the flick of a switch the government can freeze any electronic assets within seconds. There’s no way to access your assets once they’re frozen.
That includes cash and shares. Even property isn’t safe. You can’t hide a house from the government, and you can’t sell it if the government won’t process the title transfer.
The one asset you can keep away from the government is gold. It’s portable. It’s transferable between willing buyers and sellers without needing the permission or involvement of a third party (such as a broker or bureaucrat). And you can conceal it from tyrannical governments.
Make no mistake, the State is closing in on free individuals. As we said at the After America conference earlier this year, ‘it’s not that China is becoming more free market, it’s that the West is becoming more authoritarian.’
Western governments look to China for inspiration of how to suppress freedom and grow the central government.
As former Aussie PM, Paul Keating recently said at a book launch:
‘The seemingly perpetual invocation of this human rights mantra attributes no moral value to the size and quality of the Chinese achievement.’
This is a view taken by many central planners. The individual is subservient to the State.
The thing is, central planning is a flawed economic model. China’s economy is no different. Its destiny is to collapse, which while positive in the long term, will have a devastating impact to the world economy in the short term.
So much, that our old chum, Sound Money.Sound Investments editor, Greg Canavan says it ‘could end the retirement dreams of millions of Australians…’
To avoid that fate it’s important to do all you can to protect your wealth against a Chinese economic collapse and the actions of the State.
The best way to do that is to invest in the one asset the government can’t easily take…gold. To see what Greg has to say on this subject, click here…
Cheers,
Kris
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