IMF: Confiscate Savings Quickly – Before People Can Take Out Their Money

from Grams Gold Debt levels are the highest they have ever been in history. Rather than considering a plan on how governments can reduce the deficit by cutting spending, the IMF has proposed that countries institute a tax, for at least 10%, on people’s private wealth and savings, quietly and quickly – before they have a chance to get their money out of the banks. They call it a “wealth tax”, conjuring up images of millionaires and billionaires. Yet, they are talking about everyone. Everyone who has any money saved and in a bank is well – “wealthy”. In the publication Fiscal Monitor, Taxing Times, by the IMF (International Monetary Fund) p. 49, it states,

“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.

It’s only a ‘one-off’ until it’s done a second time. This is a sanctioned theft, even it’s a ‘one-off’ event. Yet, no one is called on the criminality of it.

The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). There have been illustrious supporters, including Pigou, Ricardo, Schumpeter, and—until he changed his mind—Keynes.” The appeal may be seen by some as fair? By the few central bankers, no doubt. Not by the people whose money is being stolen! And Keynes doesn’t like the idea? This is the same Keynes that the Keynesian money printers, whom the Fed bases their so-called ‘rationality’ of printing trillions of dollars to ‘stimulate’ the economy – actually changed his mind on this idea. That crackpot didn’t like the idea- yet the IMF does. These are the people who run the World Bank, whom are expected to save the world with their currency, the SDR, in the next currency collapse. These geniuses are supporting a ‘one-off levy’. It’s only a ‘one-off’ until it’s done a second time. This is a sanctioned theft. Yet, no one is called on the criminality of it. “The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away (these, in turn, are a particular form of wealth tax—on bondholders—that also falls on nonresidents). ” Continue Reading>>>

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