Austin Fitts Warns: Entering Into A War Period
Nevada Families for Freedom
State Affiliate National Eagle Forum
186 Ryndon Unit 12, Elko, Nevada 89801, 775-397-6859, Sparks 775-356-0105
Editor: Janine Hansen
August 2020, In the Year of Our Lord
Volume 46, Number 7 Email Version
"We Are Entering Into A War Period"
-- Austin Fitts Warns "Nothing Will Ever Be The Same"
by Tyler Durden, Mon, 08/24/2020 - 19:05, Via Greg Hunter's USAWatchdog.com,
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts, under George H.W. Bush, says big change is ahead for the world, and “nothing will ever be the same.” Fitts lays out the so-called “reset” you’ve been hearing about for the past few years and says,
“We are in the process that I would recall is a global reset. The entire financial system is being reset. There are two aspects of this: One is extending the old system, and the other is bringing in the new system. It’s very much being done on the fly by trial and error, but the new system is 100% digital.”
The new system, according to Fitts, will be a top down control system where “tyranny” will be the key feature. Fitts predicts,
“If you look at the tyranny they are working on delivering, I don’t think most people realize how hideous some of their plans are. So, the tyranny that’s coming and the printing that’s coming is greater than anything we have seen so far...
The Fed started a new round of QE (Quantitative Easing—money printing) in March, and if you look at the extent of that, it is extraordinarily inflationary. That’s because this time around, the Fed is not just doing $3 trillion in QE. What the Fed did in three or four months, what it took them to do in three to five years during the so-called financial crisis, that is an extraordinary amount. Then you combine it with fiscal stimulus because the Fed is now buying the Treasuries... and the Treasury is sending checks out to Main Street. We are seeing that money going into the economy that is extraordinarily inflationary.”
Fitts describes the overall situation, “We are basically entering into a war period, and it’s dangerous..."
"There are many different layers, but this is what World War III looks like. The people running things and centralizing economic power and control are saying we don’t want to share the subsidy anymore with the general population...This is a spiritual war between good and evil. Part of that war spreads out to invisible technology like mind control.”
Fitts says gold and silver will be assets to have in the future. Fitts explains, “If you look at where they want to go, their vision is so dark that I think the more people recognize and see it, the more they are going to want simple assets they can control that are not digital and try to keep them outside the system. Globally . . . I think the pressure is going to be on to have precious metals.”
Watch the video:
Do what you can to be prepared! Basics like food will be essential.
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The Devastating Effects of Proposed Mining Tax on the Industry,
On Rural Counties and on the Whole State
Information compiled by Janine Hansen from information provided by Tyre Gray President of the Nevada Mining Association at the Assembly hearing on August 1, 2020 at the 32nd Nevada Special Session.
AJR1 and SJR1 are almost identical Constitutional Amendments passed by the 32nd Nevada Special Session. They will need to pass again at the next Session of the Legislature starting in February 2021, then go on the ballot. We must begin sharing this information now and ask every Legislative candidate where they stand before the coming election.
AJR1 and SJR1 change the Constitution which caps the net proceeds tax on mines at 5% to a gross proceeds tax of 7.75%. This effectively increases the tax by 382%, taking the effective tax rate on minerals from 4.9% to 24%. No other state taxes the pure gross proceeds of mines.
Currently the mines pay $123 Million in Net Proceeds Taxes. This would increase according to estimates by the Legislative Counsel Bureau to $607 Million. These numbers assume that the tax would not have a negative effect on mining operations. This is unrealistic as the tax will have devastating financial and economic impacts, especially in the rural counties.
There are 103 mines, according to the Nevada Dept. of Taxation, that are subject to the Net Proceeds tax now. 42 of those mines did not make enough money to even pay the net proceeds tax. That means that if this tax goes into effect, almost immediately 42 mines will close and possibly many others which are marginal. The mining industry is already talking about cutting back on capital investments at the mines.
The mining industry provides 37,000 jobs in Nevada, 14,000 are direct jobs and 23,000 indirect jobs with companies that do business with the mines. Every mining job creates about 1.8 other jobs.
If the mining industry contracts just 10% because of the tax that will mean a loss of 3,700 jobs and the projected tax collected will go down from an expected $607 Million to $373 Million.
If the mining industry contracts by 30%, because of the tax, job losses skyrocket to 11,000 and the projected tax collected is reduced to $250 Million.
Because mining pays the highest wages in the State that will also mean a loss of $917 Million in lost salaries hurting many more businesses. Mining also pays sick pay and health insurance.
Mining creates 90% of the jobs in Eureka County, 62% in Lander, 30% in Pershing, Esmeralda, Humboldt and White Pine Counties.
Although mining taxes are only 1.2% of the State’s general funds, in Elko, Eureka, Humboldt, Lander and Nye they account for more than 60% of the counties’ tax revenues, generated from the net proceeds tax, property taxes, and sales taxes. All of these counties receive $224 Million in tax revenues from the mines.
Mining creates jobs in every county of the state including Clark and Washoe. Heavy equipment operators like Cashman and Caterpillar in Clark County sell Haul Trucks to the mines at $5 Million a truck and tires that range from $60-100,000 for each one. In addition most of the architects, accountants and lawyers that service the mines are in Washoe and Clark Counties.
Mining pays in addition to the Net Proceeds Tax all the other taxes and fees that other businesses pay, including the Commerce Tax, Gross Receipts Tax, Property Tax and Sales Tax. The Gross Receipts tax is a tax rate of .15% for businesses with over $400 Million in gross receipts. The Gross Proceeds tax on the mines would be 11 times higher than any other businesses pay in the gross receipts tax and 53 times higher than the average commerce tax rate for businesses. One industry, mining, would pay 3 times what all other businesses in the state pay.
Mining cannot pass its tax along to consumers because the prices of commodities like gold are set on a world market, not by the companies. Of course there are many mining operations in Nevada that do not mine gold but other more marginal products like copper, drywall, cat liter, and diatomaceous earth.
AJR1 and SJR1 will be devastating to the mining industry, our rural counties and our state.
32nd Nevada Special Session Legislative Report ended Aug. 6, 2020.
AB3: Makes various provisions relating to public safety (police not Covid-19). We did not take a position. Passed Assembly 18 YES, 4 NO votes Republicans Edwards, Ellison, Titus and Wheeler. Passed Senate 19 YES with 2 Republicans voting NO Pete Goicoechea and Ira Hansen.
***AB4: MAIL IN VOTING AND VOTE HARVESTING: We opposed. Passed Assembly 29 to 12 with one Republican excused. All Dems YES. Republicans 12 NO. Senate All Republicans voted NO. All Democrats voted YES. Trump is suing as are other organizations.
***AJR1: CONSTITUTIONAL AMENDMENT INCREASES TAXES ON MINES 382%. We opposed. This guarantees 25% of the revenue will go to education, health care, and individual economic assistance. 75% would go to the general fund. Passed Assembly and Senate. All Republicans voted NO. All Democrats voted YES. Constitutional Amendments do not have to be signed by the Governor, but they do have to be passed by a second Legislative Session which takes place after the 2020 election. The regular session starts in February 2021. Then if it passes it must go on the ballot either at the regular election in Nov. 2022 or a special election before that.
***AJR2: Constitutional Amendment increases the cap on net proceeds tax on mines from 5% to 12%. We opposed. This will result in a 140% increase in taxes on a single industry. All Assembly Republicans voted NO. All Dems voted YES. All Senate Republicans voted NO except Hardy.
SB1 Authorizes courts to grant stays for certain evictions. We took no position. Passed the Senate 18 to 3 with Republicans Hammond, Hansen, and Pickard voting NO. Passed the Assembly 38 to 4 with Republicans Edwards, Ellison, Titus and Wheeler voting NO.
SB2: Revises provisions relating to peace officers. We took no position. Passed the Senate 13 to 8 with all Republicans voting NO. Passed the Assembly 25 to 17 with all Republicans voting NO and 4 Democrats voting NO.
SB3: Effort to improve Nevada's broken Unemployment System. We took no position. This was one issue worthy of a Special Session although I don't know that it will resolve the many issues. Senator Joe Hardy asked the DETR (Dept of Employment, Training and Rehabilitation) how much fraud there had been regarding unemployment benefits between 0% and 100%. She responded "in the middle", so maybe about 50%. Senator Ira Hansen asked the DETR officials what was to total amount of money that had been paid out in unemployment for the last few months during Covid-19. The answer was mind boggling...$6.2 Billion across all programs. Half or more of the $6.2 Billion, some $3.1 Billion could be fraudulent claims. $6.2 Billion was about the same for the total unemployment paid out for the four years of 2009, 2010, 2011, and 2012! This is a catastrophe! Passed the Senate 21 to 21 with all Senators voting YES. Passed the Assembly 42 to 41 with All Democrats and Republicans voting Yes except Republican Chris Edwards.
SB4 Provides that Dist Health Departments in Clark and Washoe and the Gaming Control Board can require minimum health standards and inspections of casinos and public accommodations. It also provides limited civil liability protection from personal injury or death for businesses, government sub-divisions, (including the schools), non-profit organizations including religious organizations. It ends when the Governor's Declaration of Emergency ends. We took no position. Passed the Senate 16 to 5. Voting NO Republican Senators Goicoechea, Hansen, Hardy, Settelmeyer, and Democrat Washington. Passed the Assembly 31 to 10 with a mix of Democrats and Republicans voting against.
***SJR1: Constitutional Amendment increases taxes on mines 385%. We opposed. It's the same as AJR1 except it has a provision to give 50% of the revenue to people domiciled in Nevada which includes illegals. Testimony indicated each person would get about $90 from the $260 million which was estimated from 50% of the tax. Passed Senate all Democrats voting YES and all Republicans voting NO. In the Assembly All Democrats voted YES except 4 and all Republicans voted NO.
Thomas Jefferson: Banks more Dangerous to our Liberties than Armies
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.
(The Private Federal Reserve Bank has long had control the issuance of our currency. Jefferson’s prediction is coming true.)
"Some people think the Federal Reserve Banks are U.S. Govt. institutions. They are not . . . They are private credit monopolies which prey upon the people of the U.S. for the benefit of themselves and their foreign customers. (These) banks are the agents of the foreign central banks . . The truth is the Federal Reserve Board has usurped the Govt. of the U.S." -- Cong. Louis McFadden, 1932
"Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people." Reginald McKenna, Br. Exchequer Chancellor, 1920
“If my people, which are called by my name, shall humble themselves and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.” 2 Chronicles 7:14 KJV
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