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.” 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.
Yes, you read that right. But don’t take it from me. The report itself says:
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ReplyDeleteIt should be understood (as common sense dictates) that as part of taking on loans from the IMF or any international bank that a country has to put up collateral just as anyone has to do when taking on a loan. It would be naive to think that much of that collateral wouldn't be vast tracts of land in your respective countries! And/Or maybe even the human resource (cattle) on that land!
ReplyDeleteThey tipped their hand in Greece, Cyprus and Ireland.
ReplyDeleteIn Greece, they suddenly cut pensions by 30%, in Cyprus they forced depositors to bail themselves into the banks, and in Ireland, they taxed (confiscated, in this case) existing retirement account contributions.
Icelanders showed these banksters the real template for what should be done, which was to protest at Parliament en masse, arrest their Prime Minister and say no twice to bailing out private banks for bad private bets they had made.