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In January 2014, the Bundesbank joined the IMF project focusing on a “wealth tax”. In its monthly report they had announced: “In the exceptional situation of an imminent state bankruptcy a one-time capital levy could but cheaper cut than the then still relevant options” if higher taxes or drastic limitations of government spending did not meet or could not be implemented.
In the latest June 2014 working paper of the IMF, they have set forth yet another scheme – extending maturity. So you bought a 2 year note? Well, the IMF possible solution would be to simply extend the maturity. Your 2 year note now become 20 year bond. They do not default, you just can never redeem.
The huge national debts could be reduced also according to the IMF by just expropriating all private pension funds.
Wondering who will take over the mantle of Treasury bond buyer now that the Fed is stepping away? Curious of the government's next steps towards repression and control of wealth? Wait no longer. As the AP reports, President Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement.
Obama Unveils Treasury IRAs, Planning For A Post-Monetization World
The biggest cash cow they have to grab is us baby boomers .You say extend it out a few years but with their -% interest rates they wont want to wait that long
In an interview with The Guardian in May 2012, Lagarde was asked about crisis-stricken Greece and replied:
"Do you know what? As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax."
Even more than she thinks about all those now struggling to survive without jobs or public services?
"I think of them equally. And I think they should also help themselves collectively."
"By all paying their tax. Yeah."
It sounds as if she's essentially saying to the Greeks and others in Europe, you've had a nice time and now it's payback time.
"That's right." She nods calmly. "Yeah."
I submit any country in the grips of collapse will use any means available to secure their survival. Even at the costs of it's citizens.