The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation

reply to post by burdman30ott6


Well it looks like we are in it until we are not .I do find it exciting to be living in times our grandparents would have found very interesting .We look back on them in a form of romanticism while the looked forward with wonder .who would have thunkin ....peace

Bassago
reply to post by derfreebie

 

Thank you Derfreebie, much appreciated. I do however despair at the topic. It seems the worlds asleep and we can't wake anyone up. Hardly anyone anyway. If they implement this new plan even (or especially) the rich are going to take a huge beating. That will leave the super-elite the final winners.

 

reply to post by doobydoll

 

This applies to the UK as well. No one is going to escape this one if it gets traction. Maybe China from it's direct implementation but the fallout will be global.

Yes I know, and you're right.

I don't have anything of value for them to take except my liberty and my dignity, both of which I would be taxed on if gov could find a way. I hate mafia governments making rules up as they go along and conspiring to extort hard-earned cash from those who have anything to take but never making any sacrifices themselves. I'm wondering where do these people bank and will they be affected too? Or have they moved their money out of reach so they don't lose out? Maybe something to watch for (if it's possible).

I'm getting too old to start a revolution, but I will certainly grab my zimmer to stand up and join it without hesitation.

At what point is breaking point though, and how bad do things have to get before enough is enough, I wonder.

doobydoll

I'm wondering where do these people bank and will they be affected too? Or have they moved their money out of reach so they don't lose out? Maybe something to watch for (if it's possible).

I'm getting too old to start a revolution, but I will certainly grab my zimmer to stand up and join it without hesitation.

At what point is breaking point though, and how bad do things have to get before enough is enough, I wonder.

Far down through the original article it indicates the IMF is already dealing with the issue of people trying to move their money, they will have no where to run except maybe Asia.

This is designed to be a scalp job to revitalize the governments to pre 2007 levels. It won't fix anything just allow them to continue business as usual borrowing and building more debt until we're right back to this point again.

This will be effecting not only wealthy people but small and large businesses which of course will effect all of us little people. I would not want to have much in the banks or safe deposit boxes at that time.

olaru12
The IMF better hurry, because if they wait much longer there won't be much left to confiscate.

I started out with nothin and still got most of it left.

You and me both brother lol. It won't be long before there are no countries but economic zones owned by corporations. Wars will be fought over water and money. Be glad when we need no money.

The Bot

Instead or arresting public value to rebalance the books what if the bond market was arrested instead? I do not mean send in the squat team and pull the plug as a sudden crash here is not good, but isolate and wind down the use of bonds in generating public revenue. Basically a bond is a loan and works like gold in building an economy by establishing a level of trust and security. The effect bonds have is to grow an economy, while things are growing all is good but to reach a sustainable economy the compounding effects of interest is detrimental to economic stability.

Bitcoin has shown that an economy does not have to be built on bonds, but it does have to be built on trust if it is to work. I am sure there are many other methods governments can use to manage the cash flow in society, as for finding a practical answer that most can agree on is the tough part.

reply to post by Bassago


lmao at wealth.


When you can spawn galaxies and manipulate the behavior of stars $1 Googolplexian still amounts to 1 USD penny.


Come to think of it..Did anyone notice the Portrait Obama was standing under on his last speech regarding the end of the Government shutdown?

1 Penny...lol Abraham Lincoln. They plan all this to fuk with ya.

kwakakev

The effect bonds have is to grow an economy, while things are growing all is good but to reach a sustainable economy the compounding effects of interest is detrimental to economic stability.

Bitcoin has shown that an economy does not have to be built on bonds, but it does have to be built on trust if it is to work. I am sure there are many other methods governments can use to manage the cash flow in society, as for finding a practical answer that most can agree on is the tough part.

True but North America, EU and South America have unfortunately overextended themselves at this point, so eloquently demonstrated by the US debt ceiling debacle. The time of trust seems to have past.

Possibly there will be some countries that will reject the proposal but who really knows. Cyprus and Poland have just experienced similar private asset raids by their government. The Cyprus haircut/bailout was a blueprint for the EU. Poland just went for the pension funds. The US and Canada have or are working toward similar templates. Guess no government wants to just cut spending.

reply to post by Bassago


Not a Fan of Forbes - a talking head for the 1% and 1% want-a-bees - IMHO.

First off. The Article states, catagorically:

Note three takeaways. First, IMF economists know there are not enough rich people to fund today’s governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealth—everyone with retirement savings or home equity—would have their assets plundered under the IMF’s formulation.

Just where did they come up with this FACT????????

Please see the Below Chart from Credit Suisse regarding World Wealth Distrubtion: From the conservative talking web site zerohedge:

www.zerohedge.com...

I do seem unable to imbed photos either directly or from my Mac into ATS Posts.

A blatant Lie in the body of the article - not the referenced material - their spin on the material which as you can see is completely wrong.

Forbes second "Takeaway" (read talking point) is

Second, such a repudiation of private property will not pay off Western governments’ debts or fund budgets going forward. It will merely “restore debt sustainability,” allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along—for which stronger measures will be required, of course.

Well I don't know about you - but that seems to be a given - all the IMF wants are their interest payments in a timely fashion - so they can create more debt.

and

Third:

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. Structural reform proposals for the Ponzi-scheme entitlement programs that are bankrupting us are nowhere to be seen.

Nothing Forbes quotes - says anything about "Ponzi-Scheme Entitlement Programs".

In fact the source material talks a lot about the "Decline in Progressive Income Tax".

reply to post by FyreByrd


Uploaded the pic for you. Trying to wrap my mind around the numbers in regard to total government(s) debt in regard to the 2007 economic time frame the IMF seems to be shooting for.

Nothing Forbes quotes - says anything about "Ponzi-Scheme Entitlement Programs".

In fact the source material talks a lot about the "Decline in Progressive Income Tax".

Yeah I noticed that as well. The IMF seemed particularly interested in preventing capital flight from the people they appear to be setting their sights on due to the "Decline in Progressive Income Tax."

Bassago
reply to post by FyreByrd

 

Uploaded the pic for you. Trying to wrap my mind around the numbers in regard to total government(s) debt in regard to the 2007 economic time frame the IMF seems to be shooting for.

Nothing Forbes quotes - says anything about "Ponzi-Scheme Entitlement Programs".

In fact the source material talks a lot about the "Decline in Progressive Income Tax".

Yeah I noticed that as well. The IMF seemed particularly interested in preventing capital flight from the people they appear to be setting their sights on due to the "Decline in Progressive Income Tax."

edit on 155pm0505pm92013 by Bassago because: (no reason given)

Thank you!!! - how did you do that????

I pushed the correct button and if I put the link (from my desktop) into the box it took over the whole window, and then when I closed it it closed down the whole thing. Wasn't that unintelligible?? LOL

Thanx.

On you post:

Which would be - wait for it - that pesky top 8% that are avoiding taxes and legislating away Progressive Tax Structures.

FyreByrd


Thank you!!! - how did you do that????

I pushed the correct button and if I put the link (from my desktop) into the box it took over the whole window, and then when I closed it it closed down the whole thing. Wasn't that unintelligible?? LOL

Thanx.

On you post:

Which would be - wait for it - that pesky top 8% that are avoiding taxes and legislating away Progressive Tax Structures.

You're welcome I just uploaded the pic to ATS and inserted it. It resized automatically.

So checking the world dept clock showed about $52 trillion in total debt. Not sure how much the IMF has it's claws into. Removing Russia and China still leaves $50 trillion.

I think you're right, the top percentile will avoid this at all costs. I'd say based on the Cyprus haircut template for the EU that the IMF is focused on the $152 trillion above the $100K mark. That would solve their problems. The template doesn't apply worldwide but they're working on it.

LOL ... this chart reminded me that the capstone of the Great Pyramid is missing and that the all seeing eye has been "cut off" from the rest of the pyramid on US currency. Did somebody leave us an instructional clue for when financial times go bad?

Bassago
reply to post by FyreByrd

 

Uploaded the pic for you. Trying to wrap my mind around the numbers in regard to total government(s) debt in regard to the 2007 economic time frame the IMF seems to be shooting for.

Nothing Forbes quotes - says anything about "Ponzi-Scheme Entitlement Programs".

In fact the source material talks a lot about the "Decline in Progressive Income Tax".

When the hell is somebody gonna get the guts up to whack some of these maniacs before they take over the nut house completely?

reply to post by FyreByrd


Total unfunded liability in the USA alone is $126 Trillion and counting. Forbes is right, but they don't take it down the rabbit hole quite far enough. If you count the derivatives market, there's more liability in the world (by several magnitudes) than there is wealth from the 1% all the way down to the last of the 100%.

The world owes many times over more money than it holds.

This 'asset confiscation' business, does that include your home, if you own it and people's other property, because that did not occur in Greece. Infact, if they'd have tried to take homes, property, jewellry etc they may have had full scale unstoppable rioting on their hands. So, does it only include the pretend 'money' in banks which doesn't exist anyway, or more 'solid objects'.........which I suspect would be truly UNWISE!

Elliot
This 'asset confiscation' business, does that include your home, if you own it and people's other property, because that did not occur in Greece. Infact, if they'd have tried to take homes, property, jewellry etc they may have had full scale unstoppable rioting on their hands. So, does it only include the pretend 'money' in banks which doesn't exist anyway, or more 'solid objects'.........which I suspect would be truly UNWISE!

In this case it appears to be focused on the failure of the progressive taxing structure. In other words if you make above a certain thresh-hold you may see your taxes jump, really bad.

If you look at France's president he just tried to foist a 75% wealth tax rate on the people he thought made too much money. source

Houses, property and such could be confiscated by simply raising the taxes on them. Property seizure is happening quite frequently in the US now. Imagine if they set their mind to it. You probably get to keep your jewelry, for now anyway.

reply to post by doobydoll


the top 5% of the elites have their 'wealth' tied up in Trusts and the like so they will either escape or mitigate the forced 10% wealth confiscation all of us other peons/serfs are caught up in....


seizing a % your savings or checking or tax refunds is doable right now... the other confiscations need refined more...
so that stuff like Welfare or EBT credits to ones card will be 'adjusted for Austerity' compliance...
thus having politicians rightfully claim the benefits did not decrease-on-their-watch
nor did a tax increase happen

every transaction or money exchange will be levied a fee or cost that will also be labeled an 'Austerity'' measure or a 'Bail-In' which will eventually be 'paid' by the recipient, even if the fee (or seizure) takes many weeks or months to collect in full...


the paradigm shift is being mismanaged...where the end result is a debt transfer system and no longer a credit driven system...
one had better do like both Nadar & myself do...live your life on a very austere budget, perhaps $25K tops to a basic subsistance rate of $12K per year as is my case




the new 'freedom' is the basic human right to pay for your ability to live at all...you have the benefit of paying corporate america a % of your living-standard for the 'right' to live under the government aegis

[Aegis - Definition and More from the Free Merriam-Webster Dictionary
the power to protect, control, or support something or someone. ]

Asktheanimals

Bassago

The thousand points of light you mention bear a distinct resemblance to a bad night on the Mekong Delta.

That would be funny to anyone except a Vietnam vet.
Keep some cash on hand people - 100's if not 1,000's if you can.
It could be a long "holiday" coming our way.

That's why I have most of my money invested in mayonaise jars out back.
I put my guns, gold and silver in a "special" place; just in case. If you know what I mean.

The only need I have for a bank is to cash my check, as long as they keep comming. When they stop I'll just jerk out anything that's left, a very small amount, I likely won't miss if they kept it.

So grim in fact that the International Monetary Fund or IMF has come up with a new plan to fix broken governmental economic failure. Private Asset confiscation.

Impossible! McCain would never allow anyone to take his 18 houses! Sorry, a poor attempt at humor. Going to bed.

Bassago

Elliot
This 'asset confiscation' business, does that include your home, if you own it and people's other property, because that did not occur in Greece. Infact, if they'd have tried to take homes, property, jewellry etc they may have had full scale unstoppable rioting on their hands. So, does it only include the pretend 'money' in banks which doesn't exist anyway, or more 'solid objects'.........which I suspect would be truly UNWISE!

In this case it appears to be focused on the failure of the progressive taxing structure. In other words if you make above a certain thresh-hold you may see your taxes jump, really bad.

If you look at France's president he just tried to foist a 75% wealth tax rate on the people he thought made too much money. source

Houses, property and such could be confiscated by simply raising the taxes on them. Property seizure is happening quite frequently in the US now. Imagine if they set their mind to it. You probably get to keep your jewelry, for now anyway.

Didn't quite work out the way the French hoped. All the super-wealthy people like Hollywood stars sold their property and fled the country.

France already has a 50% inheritance tax on property. Either you pay half the market value in taxes or are forced to sell up.

In the UK, if elderly relatives have to go into a care home, they must pay their way by selling their home if they more than £23,000 in savings. Wealth transfer by handing over ownership of the home to their children is considered a tax dodge.