IMF, GLOBAL TAXES, AND AN INTERESTING CONCLUSION FROM THE DAILY BELL
In case you didn't know it folks, our friends from the Daily Bell are back, and treating us to their usually prescient and penetrating analysis of all things financial and oligarchical, but this one is...well, intriguing to say the least. It seems that the International Monetary Fraud...er...Fund ... is once again floating the idea of draconian global taxes:
DAILY BELL: IMF'S WORLD TAX A PUZZLING PLOY
Lest one miss it, the IMF is proposing a genuinely global, or at least, "Western" tax on wealth, that would amount to nothing less than a scalping of the savings and wealth of the middle class from Japan, to South America, North America, and Europe:
"On page 49, the authors said, "The sharp deterioration of the public finances in many countries has revived interest in a 'capital levy' – a one-time tax on private wealth – as an exceptional measure to restore debt sustainability."
"Let's be clear: That tax would apply to all private wealth on the planet. And it wouldn't balance budgets but would only bring them down to a slightly more manageable level so that government borrowing and spending could continue without interruption.
"... Just how much would the IMF's "capital levy" be? Say the authors: The tax rates needed to bring down public debt to precrisis levels are sizable: reducing debt ratios to end-2007 levels would require ... a tax rate of about 10 percent on households with positive net worth.
"After reading the entire 107 pages, Forbes' columnist Bill Frezza was livid: [The IMF proposal] means that all households with positive net worth – everyone with retirement savings or home equity – would have their assets plundered .... It would merely "restore debt sustainability," allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along." (all emphases in the Daily Bell)
Not only would this be elite-sponsored theft, but it is a theft illustrative of what is wrong in western countries, drunk as most of them have been on deficit spending, social programs, entitlements and so on, oftentimes programs imposed on various peoples in spite of their strong opposition to them; those who do manage somehow to save anything, are punished for the impractical policies of those in power, often in previous generations. As no private property or wealth is safe from the plunderers trying to balance their own bad books, incentive ceases, savings cease, creativity ceases, as individuals perform their own versions of the voluntary exile to "Galt's Gulch."
Now, in cased you missed it, the US government is going further:
"Perhaps the proposal is simply in line with other tax policies now being implemented. The most prominent one comes from the US government, which intends to tax expatriated residents via their banking connections. The rollout of this policy is taking place this year but is also receiving a lot of pushback."
"In the long run, it seems to us, the decline and fall of the West is a kind of foregone conclusion. Perhaps top elites may have been working to destabilize Western finances for decades and even centuries with an eye toward implementing a thoroughly internationalist economic system."
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Just bumped into this little nugget that also belongs on yours truly’s They Can’t Do That, mini rant from yesterday. Thought it might be a useful heads to some here who seem to think that the World Bank 10% western world tax will never come to pass. So all you Aussies here and other non ex-pats abroad take a breather and enjoy the show that’s already under way. Like any good magician it’s all about the deception.
For those in a hurry circa the 18:00 mark PCR explains another facet of Obama Care that they somehow forgot to tell us:
I have trouble wrapping my head around anything financial, so the meaning of all the figures and jargon is usually lost on me. This leaves me asking why things can’t just continue the way they have been for decades? It seems like the elites have always printed money and there’s always been a “debt problem”. Why is now any different from the past?
Perhaps now is only different because the elites are extremely close to implementing the final phase of their plan – which involves their survival only (or the survival of those pulling their strings) and the end of almost everyone else. They need a final giant injection of cash to build that last space ark, dome on Mars, massive chemtrail blanket, or whatever. After all, we are about to arrive at the part that made von Braun laugh the hardest…the threat from ET.
One last comment: why stop at a 10% tax when you could have 20%…or another global tax in 5 years?
The point is having a person under a 100 percent tax, inherited from there ancestors and no chance of ever getting out of debt in a life time, in fact the debt will grow even larger for the next generation…ensuring the corrupted parasites existence. This was what the Germans found and documented in Tibet in the 30s. It was no Lagrangian, by any means for the serfs, they actually slept in the stables with the livestock.
Being an optimist, this will have a silver lining. This state of affairs could kick the money changers out of mankind consciousness permanently….something Jesus predicted would come about at the end of on a age. That new age is upon us, the age of Aquarius.
The sun provides all life and wealth on the planet, it provides everything anyone would could possibly need.
all mighty complex?when interdependent economies are contrived there are great diplomatic outcomes when under just the right context; .you got to ask yourself?what does this have to do with individual sovereignty? ? no man is an island?i compose music.did someone do that for me also? complex as economics are. currency must represent value…value is an illusion. is music also?..IMO
“value is an illusion. is music also?”- yes, duncan, it is- as I work in the music industry I can testify to that- music can be either a tremendous healing or destructive tool and the whole gray field in between- but present day music is almost always destructive, sadly, which is why I can’t wait for retirement- want nothing whatsoever to do with the music industry anymore- present-day music is nothing more than the last pleas of a languishing beached whale- sad but true- just listen to it- I could go on forever about this topic-
Larry in Germany
I would like you too go on about it Larry, that would be nice of you to share your wisdom from experience.
These days you cannot cash a cheque at the issuing bank and expect fiat currency….you MUST have a bank account to deposit it into. You cannot pay a utility bill with cash, you must have a bank account in order to pay it. You cannot purchase from a bank physical precious metals, they will sell you fiat paper precious, but that doesnt have the same feel for the gollums…..and it is hard to disappear with worthless paper when the fan is turned on
In order for our transhumanist world to arrive the black markets must be put out of business….these people are …..well, lets just say killing billions of people to achieve there objective is something they have not flinched at in the past. So getting everyone on the grid, and then deposing of the …..dead weight is par for the course. Of course the types they use too carry out the diabolically plans doesn’t faze them one bit that the types they are trying to eradicate are the ones they are rewarding. So much for any type of great society plan they had, They’ve become much worse cannon fodder than those honorable men that laid down there lives so they could exist as …..parasites. That is all they ever were.
This system is more serf society……were a species at war with ourselves, our planet, and all the life forms on it, in it…..and we look to the stars to wonder what is in it for us.
Is this the last desperate act of these madmen to keep their scheme afloat? Maybe but I suspect that their computer models and crowd behavior analysis are telling them they can get away with it (unless someone is feeding their computers bad information). The lethargic potbellied middle class is just too impotent versus the menacing police state. While I would like to think such a brazen robbery would unify all those with savings accounts– be they white, black, yellow, liberal or conservative– and a mob would finally form to give these banksters what they rightly deserve, I don’t think any such thing would happen and the middle class will just take it up the rectum like they always do. Fantasies of exiling banksters to the moons of Uranus where everyday feels like a polar vortex is just a pipe dream. Taking one’s money away is not the same as taking one’s food away. And it is only the hungry mob that truly gets things done. And thanks to Fukishima, we will probably all be too nauseous to ever feel hungry.
Except it’s not going to happen. This is just an excuse for the Daily Bell to complain about taxes.
They can’t do that . . . . . can they?
Nah, just like they can’t commit serial rehypothecation with other nations long since sold non-existent gold, just like they can’t control the markets, just like they can’t impose smart meters upon an ignorant people, just like they can’t put keep ratcheting up their Agenda 21, just like they didn’t commit grand theft in broad daylight in Cyprus half a year ago.
The best way to assure they can’t do that is to belong to the club and be too big to fail (think billions).
Well put Sagnacity!
Who does the IMF think they are kidding, I mean how stupid do they think we are? And the silver fox, Christine Lagarde is typical of an elite sock puppet, or a French poodle if you have an imagination.
On financial matters, I’d rather read at Zero Hedge, some of the comments are just hilarious, and Tyler Durdan is no mans fool.
These psychopaths haven’t got the cojones to do that–and if they try, they are totally clueless. They will lose whatever brainwashed underlings they have as protection and they will isolate themselves amidst wordwide fury.
Their NWO is behind schedule and falling apart. They are trying to go for the jugular, but like Sisyphis, the closer they get, the steeper the climb. Also, where is the honor among thieves? They will slit each others throats as they each try to grab the brass ring.
What insanity to think anyone can centrally control humanity. Hubris and profound psychopathy. They deserve every last thing that is their destiny.
The poor who are put down as parasites read entitlement takers are in reality the critical base for producers. If the producers have no one who buys they will have no income and will starve and die with the rest of us. Our elites live in a never neverland bubble knowing nothing of how the world, life, science so called economics work. That’s why all their empires of any sort have always failed. Biology History is the base of true existence ignorance isn’t strength. What they long for is the world of Brave New World or Zardoz what they will get is the world of The Time Machine them as the Morlocks food.
If a road is built through your garden,
don’t expect to see your fruit ripen.
– Chinese proverb
Here is a link to the whole IMF Working Paper pdf file referenced in the Daily Bell, published last month by Carmen M. Reinhart and Kenneth S. Rogoff. The introductory Abstract is enough to raise a red flag. This was my first time to see the words “financial repression” — not recession, but REPRESSION.
From the Abstract:
“Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their emerging market counterparts.
The current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through a mix of austerity, forbearance and growth.
The claim is that advanced countries do not need to resort to the standard toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression.
As we document, this claim is at odds with the historical track record of most advanced economies, where debt restructuring or conversions, financial repression, and a tolerance for higher inflation, or a combination of these were an integral part of the resolution of significant past debt overhangs. ”
Full pdf here:
Ah yes: Carmen M. Reinhart and Kenneth S. Rogoff names to be just as trusted as the Daily Bell.
The proposal the DB is calling attention to is not likely to be implemented. And is more an excuse for the DB, and others, to complain about taxes and social programs, conveniently forgetting about, at least in the USA, huge military spending and the giant government support programs run for the likes of AIG and Chase by the US Fed and Treasury, oh and the fact that social programs like Social Security are well covered for years. All the while published on the internet, invented yes by military, but really by government funded pure research. In other words, egg heads the DB would never consider worthy of being paid for long term projects.
The “editors” of the DB seem to think that private property exists in some specialized super vacuum isolated from the rest of the world–it is a delusion. No one makes monies without the input of others, including the government, and no one exists on an island only breathing air from that same island.
The IMF might very well reply with a Bugs Bunny wink/”He don’t know me very well do he”.
I never supposed the IMF as smart as that cartoon rabbit, more like the Wile E Coyote character, with schemes that go along well enough to enrich the stock holders of Acme Inc, but always come back to burn Mr Coyote.
Well put Sagnacity!
(it takes me awhile to put things right)
Yes, that was a good one by Sag.
I think the point is not that the masses should not help pay for “social programs,” but that taking money from everybody so that bankers can have billions of dollars for contributing absolutely nothing to society, that is the complaint.
Most, if not all, of the “public debt” the IMF wants to pay off is as unjust as executing an innocent victim.
If ever there was a con game, it is “banking.” I suggest reading the book THE PUBLIC BANK SOLUTION by Ellen Brown.
(Was going to get a quote from my copy, but my wife threw it away!. Seems it takes up space that is better serve with some knick knacks.
Happiness isn’t everything.)
a drink of wine will change your view point of happiness.
Wish I could.
She took all alcohol out of the equation 8 yrs ago.
But I’ll drink to that in spirit jedi.
my neighbor just yesterday gave me a apple and a bottle of wine, vintage 2012, est 1980….its called Bricklayers predicament and has a 13% alcohol content……talk about being in a matrix. Not bad though, although it contains sulphates. That stuff gives me a headache.
That’s a true story.
We’ve(well, most of the people I know) all have had our share of headache hangovers.
Wizard of Id had a great cartoon strip with the Jester drinking a large jug of wine with two companions. They were all sitting against a wall sharing this huge jug of wine.
The Jester’s speaking caption read:
Drink up and be Merry!, for tomorrow we die.
This wine was 2 dollars a gallon.