THE SEVENTH TRUMPET
Jeffrey Brackeen’s E-Mail Newsletter

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The Seventh Trumpet is at once an Intelligence Report and a Spiritual
Commentary upon the Events and Affairs of our Times.It is intended
to be an ongoing Educational Curriculum based on the subterranean
streams of economic, social, political, spiritual and historical facts,
little known to the general population.

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HARD TIMES, Part 13

"Because you say ‘I am rich and increased with goods and in need of nothing’ and do not know that you are poor and wretched . . . I council you to buy gold from me, tried in the fire, that you may be rich." - Revelation 3:17

In this series of articles, we have been discussing certain events of an economic nature, some of which have transpired already and some still future, that are designed to eliminate the ‘middle class’ in America through taxation, inflation and military conquest. In so doing, I hope to touch on the following issues and possible courses of action available to us.

INFLATION - THE COMING CURRENCY SHORTAGE - ELECTRONIC MONEY - NEW KINDS OF WEALTH - REASON FOR THE ASIAN BANKING CRISIS - THE REAL REASON FOR Y2K SCARE - CAPITAL FLIGHT & SEVERE PENALTIES

TAXATION - REASON FOR THE SAVINGS & LOAN SCANDAL - THE ILLEGAL SEIZURE OF ASSETS, HOMES, RIVERS & WILDERNESS AREAS - THE NEXT MASSIVE TAX LEVY - TAX HAVENS - OFF SHORE BANKING - TRUSTS - FOUNDATIONS - BEST PLACES TO HIDE ASSETS - FORMATION OF SMALL CLOSE KNIT COMMUNITIES - BARTER EXCHANGES - E-GOLD

INVASION OF PRIVACY - NATIONAL I. D. DRIVERS LICENSE - NEW DEFINITIONS OF ‘TERRORIST GROUPS’ - NATIONAL DATA BASE FOR ALL WORKING AMERICANS - NATIONAL DATA BASE FOR MEDICAL RECORDS - DANGEROUS NEW EXECUTIVE ORDERS - GUN CONFISCATION - COMING OF U. N. PEACE KEEPERS TO AMERICA - AND MUCH MORE.

 

PREDICTIONS OF PRESIDENT THOMAS JEFFERSON FOR U.S.A.

"If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered." - Thomas Jefferson, 1802, in a letter to then Secretary of the Treasury, Albert Gallatin On another occasion he wrote, "I believe that banking institutions are more dangerous to our liberties than standing armies." Why do you think he said this? Let me give you hint. Baron M.A. Rothschild boasted, "Give me control over a nation's currency and I care not who makes the laws."

John Maynard Keynes, author of The Economic Consequences Of The Peace, confirmed Thomas Jefferson,"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

SOME DISTURBING STATISTICS IN VIEW OF THE ABOVE

Currently, more than 40% of the American people spend more than they earn.

More than 50% of Americans have less than $10,000 saved for retirement.

And 20% of Americans saved nothing last year.

Nearly 50% of the recent 65+ AARP survey participants reported an income of less than $10,000.

US Census figures corroborate AARP survey results and state that 40% of all Americans over the age of 65 report an income of less than $10,000. Further, the U.S. Census stated that 20% of the older American population live near, at or below poverty level.

PLANING FOR RETIREMENT

Today, we have the greatest number of Americans preparing for retirement, than at any time in our nation's history. And what they don’t know is destroying them. Let’s examine some recent news reports.DATE: April 2001 MEDIA: Securities America Development Update ARTICLE: The Benefits of Long-Term Care Insurance

BY-LINE: Thomas Cross, CLU, CHFC

If your clients over 50 are like most people over 50, they're probably working on a plan to fund their retirement. And they've probably purchased life insurance in case tragedy strikes.

But what if someone falls seriously ill and needs long term care, either at home or in a nursing home? If their families were faced with a large monthly expense out of the blue, from where would the money come? It's a risk for which most people forget to plan and it can erase a lifetime of savings.

What's at risk for these clients

The simple answer: everything. While people assume long-term care is costly, few of us understand just how costly - up to $5,000 a month - and how quickly these costs add up. The figures vary by facility and area of the country; nursing home care ranges from $20,000 to $80,000 each year.

It's a very real threat. According to the Health Insurance Association of America, 48.6% of Americans age 65 and older may require some time in a nursing home. The percentage of people over 65 who may use home health care is 71.8%. Most people don't realize, however, that major medical insurance does not cover these costs. The cost of long-term care can jeopardize the retirement for which you and your clients have been planning.

MEDIA: The Sacramento Bee

ARTICLE: One lesson learned from the past year: Diversify Assets

BY-LINE: Jack Sirard

If we learned anything from last year’s stock market performance, it was the value of diversifying a portfolio.

…many investors ignored the basic concept of spreading their investment assets across major sectors and different asset classes.

While many younger investors, who presumably had a better handle on the Internet stocks, learned a tough lesson…older investors put far greater amounts in such other investment categories as money market funds, guaranteed investment contracts and bond funds.

In short, they spread their assets around and reaped the rewards…We’ve all heard the talk that young investors –presumably those under 40-- should be 100 percent invested in stocks. …asset allocation decisions grow in importance as your portfolio grows in value and as you near retirement age.

BUT WHAT IF YOU GET LAID OFF BEFORE YOU RETIRE?

 

DATE: 4-19-01 MEDIA: N.Y. Times ARTICLE: News Analysis: Is The Fed’s Action Just in Time or Too Late? BY-LINE: David Leonhardt

…In March, as the unemployment rate rose to 4.4 percent and the economy lost the highest number of jobs in a single month since 1991, retail sales fell slightly. During the early weeks of this month, initial unemployment claims increased to their highest level in five years.

Few analysts expect the unemployment rate to fall soon. This year, Cisco Systems, Eastman Kodak and dozens of other companies have announced layoffs, most of which are taking effect over weeks or months. Altogether, employment statistics that suggest future trends—like the number of hours worked and other measures—have dropped to their lowest level in 19 years, according to the Economic Cycle Research Institute. Loss of primary incomes (or retirement) causes reliance upon government benefits.

90% of the traditional financial planning industry’s clients never complete financial plans. Why? The two types of monetary contractions, national and personal, negate clients’ abilities to maintain long-term monthly accumulation goals.

What's going on? Traditional financial plans do NOT factor in the above two contractions. (If they did expose this futile trend, they could not find purchasers for their securities products.) When factored, the annual loss of purchasing power or the annual decline in the value of debt-based currency ranges between 12%-24% per year.

In the first ten years of retirement, using the conservative 12% figure, your money will lose ALL of its purchasing power AND cause you to rely on government benefits as your primary income. Charles Schwab, Using the contraction less 3% annual inflation rate, argues;

MUTUAL FUNDS: In your recent book, you lay out some truly ambitious goals for retirement savers. For every $1,000 of monthly income, people need $230,000 when they retire, assuming a portfolio of 80% stocks, 15% bonds and 5% cash. For an annual income of $75,000, you’d need a $1.4 million nest egg.

Schwab: That number allows for some inflation…We don’t know what’s going to unfold do we? That $230,000 is a sure-fire number. It will incorporate 99% certainty that you will make it through any environment with your investments, adjust for inflation for the rest of your life, and have something left over at the end that you can give away.

THE WAR ON GOLD

In order to keep the sheep gullible, various international bankers have gone out of their way to suppress the value of gold as a medium of exchange and as a medium of passing on one’s earnings to his heirs. Let me assure my reader that the value of Gold is far greater than the current suppressed price, which the Central Banks of several countries have tried to dictate. In the first place gold is used in the creation of electronic items (especially computers).

The world bankers are trying to tell the serfs down on the farm that gold has no intrinsic value other than jewelry. But if that be true, why then are they working feverishly to take over the diamond mines of Mogadishu and the gold mines of South Africa? It is believed by many that the bankers are secretly maneuvering the peoples of the world into a sheep pin that will only permit electronic money. As the Dollar collapses further in purchasing power, the Euro is being beefed up with gold derivatives, so that it can carry the weight of world commerce until the debt in America can be eliminated. This will be a painful process, since the homes, businesses and farms of Christian Americans is transferred to hordes of Asiatics. Make no mistake about it, the Bankers will not sell these back to us after they have cashiered us. At the moment there are about a million Moslems per year invading the U.S.A. Already many of these folks are the beneficiaries of 2% and 2.9% loans which most Americans could never hope to obtain.

Perhaps it’s time for us to remember the words of Jesus Christ, "Because you say ‘I am rich and increased with goods and in need of nothing’ and do not know that you are poor and wretched . . . I council you to buy gold from me, tried in the fire, that you may be rich." - Revelation 3:17

IT IS IMPERATIVE FOR US TO UNDERSTAND THE NATURE OF OUR MONEY

The simple truth is, the traditional financial planers and their financial outreach, (tax preparation, employee benefits, the insurance industry, etc.) eventually captures employees and employers of all kinds and even suave promoters and multilevel marketers.

And yet, the traditional financial plan and financial planning outreach NEVER discloses the truth about our privately owned debt-based currency -- the value of debt-based currency decreases exponentially, every year!!!

As a result, the leaders in government, media and entertainment, commerce, education and religion, manipulate, massage and endlessly distort, in a variety of forms, various data, (the effects of the CPI -- Consumer Price Index) and terms, (inflation, assumed rate of return credit, debit, securities, etc.). In other words, the traditional financial plan ASSUMES and leads clients to believe that the Dollar is sound.

No assumption can be more erroneous or create greater risk.

HOW IS OUR MONEY PUT INTO CIRCULATION?

Most people are aware that currency notes are printed by a Federal Agency - the Bureau of Printing and Engraving. But FEW people are aware of what actually happens after a note is printed in order for it to be put into circulation. Strangely, the Government does not issue the money into circulation itself. WHY NOT ????

The Federal Reserve Bank, A PRIVATE CORPORATION, buys (YES THAT'S RIGHT BUYS) $100 bills from the Bureau of Engraving for 3 cents each. Then the Bank loans those notes back to the government (it bought them from) for THEIR FULL FACE VALUE plus INTEREST (prime rate), or $103.50. So the Government sells the note for 3 cents to the Private Bank, whereupon the notes becomes the private "property" of the bank, and then the government borrows that property FOR FULL FACE VALUE from the bankers. Pretty sweet deal, huh? Wouldn’t it be great if the Treasury did this for you and me? YOU PAY FOR IT, but you don't get the benefits of this system. They are reserved for the elite billionaires (mostly foreign) who own the "FEDERAL" Reserve Bank.

THEN THERE’S DIRECT TAXES

Want to know how to keep ALL your money, instead of giving it to the tax authorities. Did you know that even if you paid the lowest taxation rate you would still be paying a minimum 50% of your earnings to the government, through direct and indirect taxes. This means you work six months of the year to pay a bureaucrat. Want to stop wasting your money like this? There are avenues of escape if you are willing to take them. As I pointed out in my last article, there are steps we can take to liberate our earnings. We can create a family Trust for a start - mind you not just any kind of trust - such as one you can purchases off the shelves of an office supply store - No, we need a living trust.

WHAT IS A LIVING TRUST?

A living trust is an arrangement in which a person transfers ownership of their assets from themselves to another entity, the trust. The person creating the trust is the settlor. The person who manages the trust is called the trustee. The person for whose benefit the trust is being managed is called the beneficiary. The same person can be settlor, trustee, and beneficiary.

Thus, you can set up a trust with your own assets and retain complete management and control of the assets by acting as your own trustee, or you can designate someone else as trustee to manage the assets for you.

It is called a "living trust" because it is created during the settlor's lifetime. This is different from a "testamentary trust" which is created upon the death of the settlor.

HOW DOES A LIVING TRUST ACT AS A MANAGEMENT DEVICE IF I AM INCAPACITATED?

In the event that you are incapacitated, the trust can provide for an alternate trustee, whom you have selected, who will manage the trust funds for you. The trust document should spell out how the determination of incapacity is made.

HOW DOES A LIVING TRUST SERVE AS A SUBSTITUTE FOR A WILL?

The trust document provides for the distribution of the settlor's assets upon the settlor's death. Thus, on the death of the settlor, the trust assets are distributed by the trustee directly to the beneficiaries who are designated in the trust instrument. There is no automatic court supervision or probate of this distribution process as there is in a Will. This is generally less costly and faster than the distribution of assets pursuant to a Will.

In order for a living trust to function as a Will substitute and avoid probate, the settlor's assets must be transferred into the living trust during the settlor's lifetime.

Furthermore, according to the Wall Street Journal, IRS courts have held that the expenses incurred in the creation of a living trust are tax deductible. When you establish a living trust as part of a comprehensive financial plan, which we are assured qualify your expense as a proper tax deductible item.

CREATING AN IBC IN THE FORM OF A PURE TRUST

What’s an IBC? An IBC is an International Business Corporation, which usually does business in places other than where it was formed. An I.B.C. can be formed within 24 hours by two people, simply by filling out a Memorandum and an Articles of Association.!!! Properly created Trusts do not have to divulge the names of officers, shareholders or beneficiaries to either the I.R.S. or the host country. IRS form W-8 is issued to banks and brokers in order to establish tax exemption.

An I.B.C. may issues shares in any denomination it chooses. Capitalization of the Corporation can be effected by exchanging money for shares. For the most part, the U.S. does not discourage such investment. "An individual beneficiary, who is a resident of the United States, is not taxable upon a distribution from a foreign trust considered to be owned by a nonresident alien grantor."- I.R.S. Ruling 69 -70.

An I.B.C. may have its own credit card or debit card issued by the largest bank in that haven!!!

HOW DOES A PURE TRUST DIFFER FROM A LIVING TRUST?

A Pure Trust is not a ‘trust’ because it does not have a beneficiary, with a beneficial interest in the assets of the trust, like a statutory Trust Agreement. Commonly, it is known as a ‘Contractual Agreement. Such Contracts are authorized by Article 1. Section 10 of the U.S. Constitution, which states in part, that we have the right to Contract and that no state or legislature shall pass any laws impairing our right to contract! Therefore, a Pure Trust is a contractual agreement, without the State (as with a Corporation) being involved. It is a a contractual agreement between private parties.

HOW DOES CASE LAW DEFINE A PURE TRUST?

"If it is free of control by certificate holders, then it is a Pure Trust." - Shuman Heink v. Folom 159, N.E. 250 (1927) There is no geographic boundary where a Pure Trust can conduct its business. It can do business in any and all states, regardless of its domicile.

"Once the Pure Trust (contractual agreement) has been recorded in one country, it can conduct business in any country, in any given state." - Shirk v. Lafayette. 52 F 957

The Pure Trust is a specifically designed Contract which uses Trust terminology. It can be used in the place of a corporation, since its structure may consist of a Trustee or a group acting like a board of directors, using meeting, taking minutes and being empowered to act on behalf the the company.

WHICH IS THE BEST HAVEN? HOW ABOUT THE BAHAMAS?

The Bahamas has No Corporate Tax, No Personal Tax, No Capital Gains, No Personal Withholding, No Business Tax and No Estate Tax, No Gift Tax, No Inheritance Tax, No Employment Tax, No Sales, No Death Tax, No Probate Tax.!!!

The Bahamas has a Domicile of Trust Act (1991) which extends the life of Trust out 80-100 years beyond the named Beneficiary.

An I.B.C. operating out of the Bahamas will not be taxed and it can have several bank accounts but it cannot own property in the Bahamas or do business with anyone living in the Bahamas. Does that mean I recommend going to the Bahamas or even Panama? Not necessarily, and for two reasons: I have received reports that some of the banks in some of the most respected off shore havens have been cooperating with the taxing authorities of Europe and the United States. The fact of increasing unofficial co-operation amongst European tax authorities and the "dependency" of British Dependent Territories to release information has not gone unnoticed. Security for the desirable client has become one of the most important factors in the offshore industry.

Secondly, before getting on the Internet and finding someone who will set up an off shore I.B.C. one should be aware that there are many Shysters out there, who will only be too happy to take your money and run with it. I have seen ‘entrepreneurs’ who charge $2,000 or more for the information that I have given my readers in this series of articles. I am not going to give out my recommendations in this article, but if you are a subscriber to this publication, I will be happy to share this valuable information, if you will write to me.

OFF SHORE STOCK EXCHANGES

Everyone knows about the New York Stock Exchange, the NASDAQ, the Chicago Mercantile Exchange and the London Stock Exchange but most people aren’t aware of the fact that there are huge stock exchanges in countries that charge little or no taxes at all on trading. Actually, there is no such thing as an 'offshore stock exchange’, in fact, there are just some stock exchanges that are based in low-tax or 'offshore' jurisdictions, and they don't share any characteristics that set them apart from 'onshore' stock exchanges, except perhaps their small size, with Hong Kong, Ireland and Switzerland as exceptions.

Nonetheless, the group of stock exchanges based in low-tax countries may come to share a more important characteristic than their 'off-shoreness', and that is survival. 'Offshore' is becoming more and more necessary, in response to the ever more inhospitable fiscal and regulatory environment presented by the high-tax countries, and offshore stock exchanges were an inevitable development, once significant numbers of capital-hungry companies and financial institutions such as investment funds began to migrate to low-tax regions.

And with the advent of the Internet, more and more money is flowing ‘off shore’ much to the chagrin of the Infernal Revenuers. Don't be deceived by the temporary setback the ecn's are experiencing as consumers adjust to electronic trading and legacy financial institutions use their fat to compete with starving and under-capitalized newcomers. This is a passing fad, and in time the cheapness of e-trading will blow away all other business models. Once that has happened, and large companies see the great majority of their trading (and capital-raising) done on the 'Net, do you suppose they will continue to list in New York, London or Zurich, with all the attendant costs and regulatory hassles. Why would they? They will list in the cheapest, reasonably well-regulated place where there is a professional support mechanism that guarantees probity and transparency and is consistent with access to liquidity.

By going ‘off shore’ at this time, we will be better poised to take advantage of investment opportunities. (I would avoid currency speculation completely.) Barring another World War, I believe that Science and Technology are creating another revolution all their own in various spheres of life. And I tend to believe that this revolution will improve the quality of life of most people. What we know about this revolution is exciting. Advances in science and technology will generate dramatic breakthroughs in agriculture and health and in leap-frog applications, such as universal wireless cellular communications, which already are networking developing countries that never had land-lines.

However, what we do not know about the S&T revolution, is staggering. We do not know to what extent technology will benefit, or further disadvantage, disaffected national populations, alienated ethnic and religious groups, or the less developed countries. We do not know to what degree lateral or "side-wise" technology will increase the threat from low technology countries and groups. One certainty is that progression will not be linear. Another is that as future technologies emerge, people will lack full awareness of their wider economic, environmental, cultural, legal, and moral impact—or the continuing potential for research and development. There is another revolution that is taking place before our very eyes, that we need to be cognizant of, and that is the -

THE NEW PARADIGM - HOME BASED BUSINESS

The number of home-based businesses in the United States surpassed 20 million this year, and is expected to eclipse 25 million by 2003, according to the research firm International Data Corp. (IDC). The average household income of those with home businesses topped $57,000 in 1998, says the IDC. Think about this as you consider entering the home-business world: Nearly 8,500 new home businesses start every day, and there are no signs of a slowdown.

Savings in terms of expense and working capital is a major reason for working at home. One individual who had previously run a ‘regular’ business reported, "In my last full year doing business off-line, these were just SOME of my expenses:

"Office Rental: $1,000 per month
Telephone: $ 600 per month
Postage: $ 760 per month
Printing: $1,200 per month
Employee Wages: $5,200 per month"

Well, friends, we have explored many areas in this series, in an attempt to enlighten our fellow citizens about the planed erasure of the Middle Class in the United States. God bless, Jeffrey Brackeen

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