IMF demanding/mulling obligatory 10% debt tax on ALL private savings in Eurozone

[Skybird]

Several sources:

https://www.goldbroker.com/news/imf-...ounts-348.html

http://armstrongeconomics.com/2013/1...-hello-cyprus/

http://www.theautomaticearth.com/Fin...d-savings.html

The original report, named the Fiscal Monitor published by the ICF, where it is said that

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. 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 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).

There is a surprisingly large amount of experience to
draw on, as such levies were widely adopted in Europe
after World War I and in Germany and Japan after
World War II. Reviewed in Eichengreen (1990), this
experience suggests that more notable than any loss of
credibility was a simple failure to achieve debt reduction,
largely because the delay in introduction gave
space for extensive avoidance and capital flight—in turn
spurring inflation.
The tax rates needed to bring down public debt to
precrisis levels, moreover, are sizable: reducing debt
ratios to end-2007 levels would require (for a sample of
15 euro area countries) a tax rate of about 10 percent
on households with positive net wealth.

can be found here : LINK-http://deutsche-wirtschafts-nachrichten.de/wp-content/uploads/2013/10/IWF-report-Schuldensteuer.pdf

Note: it is noit even curing the disease. The system remains untouched. The same actors stay in power. The banks get feed. The debts get reduced to just 2007 standards - when the indicators and indices already were flashing in aggressive, warning, bright red.

German article: LINK-http://deutsche-wirtschafts-nachrichten.de/2013/10/17/die-grosse-enteignung-zehn-prozent-schulden-steuer-auf-alle-spar-guthaben/

Cyprus and Greece were just testing balloons. There is a huge desire in EU fascists to abandon banknotes and coins completely, to force everybody making himself vulnerable by having all his transactions and fiscal reserves in digital format - because the infrastructure of electronic finances is such that the state can already now rob people at will by just pressing a button, at least in Germany and it is IT specialists saying that. If there are coins and banknotes that people have no longer on the bank, but hidden at home, these are reserves that the predators then could not so easily reach - not without stirring public awareness and resistance. It all is about to make citizens as defenseless and vulnerable and naked as possible in the face of the looters homing in on them. Abandoning cash money is one such measure.

Interestingly, two weeks ago or so the EU proposed a strict tightening of laws regulating possession of private firearms, making it even more stressful and repressive to gain permission to own one at home. History has several examples, mostly from the feudal era, were kings simply forbid ordinary peasants and civilians to own any weapon at all - so that they could not riot and resist. In these examples, the king usually then went on irresponsible spending frenzies, ruining his kingdoms' finances, mostly to finances some war.

It is occasionally reported that the EU has already years ago started to maintain secret anti-riot police units, organising them in paramilitary style. They should obey EU order only, and are meant to crack down on riots and resistance against EU policies, if such resistence exceeds certain limits beyond which the EU feudal lords must feel threatened in their power and glory.

I also remind of the controversy simming on since 2009 over the dictate of Lisbon having opened the door to demand member states to execute suspects caught not only in times of war, but also in pre-war times and cases of civil unrest and riots. Eu-laws overrules national law, the EU polit bureau could very well issue orders and mission rules that force nations to carry out death penalties against rioters and protesters. Ein Schelm wer Böses dabei denkt...

These are interesting times, to put it this way. Thanks to the Euro and the Western debt-economy, the biggest predatory raid in the history of mankind is under way - and you watch it from your seat in the first row, in 3D without needing glasses! Ration you popcorn, it will soon run out. Hope you enjoy the show.