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 âTaxing Times,â the report paints a dire picture for advanced economies with high debts that fail to aggressively âmobilize domestic revenue.â <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:
âThe sharp deterioration of the public finances in many countries has revived interest in a âcapital levyââ a one-off tax on private wealthâas an exceptional measure to restore debt sustainability."
Note three takeaways. <B>First, IMF economists know there are not enough rich people to fund todayâs governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealthâeveryone with retirement savings or home equityâwould have their assets plundered under the IMFâs formulation.</B>
<B>Second, such a repudiation of private property will not pay off Western governmentsâ debts or fund budgets going forward. It will merely ârestore debt sustainability,â allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes alongâfor 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?
<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 âTaxing Times,â the report paints a dire picture for advanced economies with high debts that fail to aggressively âmobilize domestic revenue.â <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:
âThe sharp deterioration of the public finances in many countries has revived interest in a âcapital levyââ a one-off tax on private wealthâas an exceptional measure to restore debt sustainability."
Note three takeaways. <B>First, IMF economists know there are not enough rich people to fund todayâs governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealthâeveryone with retirement savings or home equityâwould have their assets plundered under the IMFâs formulation.</B>
<B>Second, such a repudiation of private property will not pay off Western governmentsâ debts or fund budgets going forward. It will merely ârestore debt sustainability,â allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes alongâfor 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?
