Thursday, October 10, 2013

IMF Suggests Ten Percent Capital Levy on Savings

It has come! The NWO by means of one of its main mouth pieces, the IMF is preparing the ground for a less subtle form of legalized plunder than convert inflation. The Fed as well as the European Central Bank (ECB) seem to be done for now with QEs and LTROs. The consequences of monetary expansion initially remained restricted to the banking sector, but are finally trickling down into the actual economy. 

For a long time politicians have been able to distract attention and turn the focus to the colleagues with whom their are sharing a revolving door: the evil banksters. But now - in the Euro zone at least - the curtain is about to drop on their egregious practices. Their crime is becoming apparent for all to see: vote buying through the false promise that the welfare state can be maintained while growth is limited to a 'sustainable' 0,5% per annum. 

This type of postmodern wishful thinking belongs in a different universe. In spite of denial and constructed perception, truth and reality have a habit of exerting themselves. In the end there's no such thing as a free lunch! 

Contrary to what Socialists and the misinformed believe, the state has no money. Value is made and added in the private sector. Kill the goose that lays the golden eggs and the nanny state is rapidly unraveling. 

Failing banks were kept artificially alive because they were necessary to buy massive amounts of sovereign debt with crispy printed euros at the expense of the value of savings and pensions. But the end of this covert form of theft is now in sight. 

In the Netherlands the government is considering a second capital levy; the time is ripe for open institutionalized plunder of the savings of ordinary citizens.

Varied socialists have been preparing the ground for some time: with the fallacy that "sleeping capital must be put to good use", with the false legitimization that "the rich are getting richer" and the morality that "paying taxes is good". 
Sovereign debts are spinning out of control. A growing number of governments are expressing an interest in a special, one of levy of 10 percent on savings. 
With the levy, government debts can immediately be brought back to sustainable levels, opines the IMF in a report on tax systems published on Wednesday.
For the group of 15 countries in the euro zone a one off capital levy of 10 percent for households with savings would be necessary in order to reduce the public debt to pre crisis levels. The IMF has not worked out any details, but we can rest assured the savings of the 'rich' will be seriously hit. 
The IMF assumes that capital flight may be averted if the levy is done before households will be able to react. Like the crisis levy in the Netherlands, the measure must be presented as a one off.