The taxman strikes

I'm in a particularly foul mood, that has heightened my animosity towards government.

The Australian Tax Office has ever so kindly sent me a letter about my 2007-08 tax assessment, and my failure to disclose an interest amount I received from an Australian financial institution.

Their database matching system shows that I had only disclosed 2 out of the 3 sources that generated interest in that financial year.

Of course, it was a genuine mistake, and the letter says that no penalty will be applied but that in 28 days, I will be assessed for taxation on that income.

You know, being an enemy of socialism and having half a clue about all the theft and coercion it relies on, I see straight through their doublespeak and I simply interpret their message as follows:

" You trying to hold out on us slave ? Hand over the cash or go to jail !"

The Fed as Counterfeiter

The Mises blog has a great article that explains the complicated workings behind central banking, and how despite the complex mechanisms and multiple actions/strategies, they all combine to create a scenario where the government really can just print new dollars to finance its spending.

No wonder all the governments of the world are such big fans of central banking ... it gives them the 'flexibility' to just issue more debt, which gets exchanged for newly minted dollars, whenever it needs to spend on warfare, welfare, bailouts and special interests.