IMF suggests one off wealth confiscation to pay for debt.

[jem]

just in case anyone forgot the initial post.

there are alternatives such as just paying the debt all off with one massive print not tied to debt.

just print... and then cap the budget with no more debt issuance or even balance the budget. either way no more borrowing.


that way you do not steal your citizens assets.
its a a far better solution.

Quote from Grandluxe:

10/15/2013 @ 8:00AM
<B>The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation</B>

The International Monetary Fund (IMF) quietly dropped a bomb in its October Fiscal Monitor Report. Titled “Taxing Times,” the report paints a dire picture for advanced economies with high debts that fail to aggressively “mobilize domestic revenue.” <B>It goes on to build a case for drastic measures and recommends a series of escalating income and consumption tax increases culminating in the direct confiscation of assets.</B>

The report itself says:
“The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability."

Note three takeaways. <B>First, IMF economists know there are not enough rich people to fund today’s governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealth—everyone with retirement savings or home equity—would have their assets plundered under the IMF’s formulation.</B>

<B>Second, such a repudiation of private property will not pay off Western governments’ debts or fund budgets going forward. It will merely “restore debt sustainability,” allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along—for which stronger measures will be required, of course.</B>

Third, should politicians fail to muster the courage to engage in this kind of wholesale robbery, the only alternative scenario the IMF posits is public debt repudiation and hyperinflation.

http://www.forbes.com/sites/billfre...he-groundwork-for-global-wealth-confiscation/

Is this Obama's ultimate game plan too?

 

[TGregg]

Quote from jem:

just print...
that way you do not steal your citizens assets.
its a a far better solution.

LOL. "Just print" steals the money from the savers. At this point in the US, only suckers and fools work for a living.

 

[Lucrum]

Quote from jem:

...just print... and then cap the budget with no more debt issuance or even balance the budget. either way no more borrowing.

I can't imagine in my wildest dreams congress agreeing to any financial plan that eliminates federal borrowing. They're addicted to it.

 

[TGregg]

Quote from Lucrum:

I can't imagine in my wildest dreams congress agreeing to any financial plan that eliminates federal borrowing. They're addicted to it.

Not congress critters - voters. Voters are addicted to a shitload of borrowing money from future generations to spend now. Could you just imagine a political party of Common Sense standing up and saying:

"We're gonna solve this debt problem and bring on the next great depression so we can work through it instead of our grandkids."

LMAO! Once the election rigging was complete, they'd end up with negative votes!

 

[Ricter]

America has perpetual debt, perpetual income, and perpetual new generations.

 

[Lucrum]

Quote from TGregg:

Not congress critters - voters. Voters are addicted to a shitload of borrowing money from future generations to spend now. Could you just imagine a political party of Common Sense standing up and saying:

"We're gonna solve this debt problem and bring on the next great depression so we can work through it instead of our grandkids."

LMAO! Once the election rigging was complete, they'd end up with negative votes!

Yes absolutely the low information voters are to blame as well.

 

[Lucrum]

Quote from Ricter:

America has perpetual debt, perpetual income, and perpetual new generations.

America also has perpetual federal Wanton waste spending, perpetual unnecessary taxes and those "new generations". Mostly low information ignorant lazy welfare queen parasite mofo's who sell their votes for "free" stuff.

 

[Scataphagos]

Quote from jem:

"... just print... and then cap the budget with no more debt issuance or even balance the budget. either way no more borrowing.

You better thank your lucky starts that we DO borrow.... borrowing at least delays the inevitable bankruptcy.

If borrowing were replaced with "just print", the value of the $Dollar would soon become the $Penny. We'd have monster inflation, the $USD would not be the reserve currency, and nearly all US citizens + anyone else whose assets were denominated in $USD would be soon be BANKRUPT!

We need to end borrowing, alright... but BY NOT SPENDING MORE THAN THE TAX REVENUE.

 

[jem]

you don't prefer inflation over asset confiscation.

Quote from TGregg:

LOL. "Just print" steals the money from the savers. At this point in the US, only suckers and fools work for a living.

 

[jem]

i was giving alternatives to the IMF solution.

But, frankly I do not give a shit about being a reserve currency.
Allowing the Fed to lend out so much slush we could hide 700 percent inflation over 50 years is not exactly a bonus.


note... isn't your argument a bit contradictory.
As the world currency... one big print would be absorbed by all the dollars electronic and real all over the world.

one big print with a mandatory balanced budget or even a capped budget and no more borrowing could cause the dollar to appreciate as the bottom would be put in.

Quote from Scataphagos:

You better thank your lucky starts that we DO borrow.... borrowing at least delays the inevitable bankruptcy.

If borrowing were replaced with "just print", the value of the $Dollar would soon become the $Penny. We'd have monster inflation, the $USD would not be the reserve currency, and nearly all US citizens + anyone else whose assets were denominated in $USD would be soon be BANKRUPT!

We need to end borrowing, alright... but BY NOT SPENDING MORE THAN THE TAX REVENUE.