Submitted by Tyler Durden
Over the past few months, Arianna Huffington has initiated a grass roots campaign called “Move your money” whose purpose is to forcefully shift an allocation of the deposit base from the TBTFs which have captured the government via the Wall Street-D.C. lobby complex. While we hope this campaign succeeds, we are somewhat skeptical that it will achieve its goal. First, the logistics of transferring one’s account are non-trivial and can be daunting to most people. Second, the overarching problem lies not so much with the banks themselves, as with the one supreme enabler of not just artificial “profitability engineering” but of the broad range of market interventions, which will ultimately result in the collapse of America. Just today we demonstrated that the US monthly budget deficit hit an all time record, which, paradoxically, and completely counter-intuitively was accompanied by a record drop in the interest rate paid on public marketable debt. This is an artificial and perverted relationship which will soon breaks, and when it does the suffering will truly begin. Yet therein lies the rub: as the Administration, with the full complicity of the Treasury, borrows deeper into the red and consigns America’s future to a 3rd world fate, can now only be stopped by precipitating a full systematic reset of a Treasury-Fed duopoly set on testing whether or not America can default. Unfortunately, the guinea pigs in this experiment are some 300+ million Americans. We suggest a simpler solution to facilitate this the much needed reset: increase your tax withholding exemptions (a far simpler process to moving one’s deposit account), thereby forcing the treasury to tip its hand on just how much debt it will need, as it pretends to have some semblance of authority over an out of control budgetary situation.
This is a perfectly legal practice: here is the IRS itself providing a useful primer on how taxpayers can bump up their withholding exemptions all the way up to 10, in this way forcing the Treasury to delay receipt of tax funds via paycheck withholdings well into the post April 15th future. We are confident that the capital reallocation that the banks will experience as a result of “Move your money”, coupled with the need to run a much more balanced budget (which we now realize is impossible, and the only alternative is eventual sovereign default or complete dollar devaluation) once tax withholdings dwindle, will finally force this administration and the banking cartel to listen to the silent majority of 95%+ Americans which are not on the list of burgeoning millionaires, and who couldn’t care less if the market shot up 100% today on some algo gone wild, yet which is somehow supposed to indicate that the economy is getting better. Just look at today’s record budget deficit number to make your own determination just how much “better” the economy is getting.