The IMF Proposes “Global Wealth Confiscation” – The Appropriation of Household Savings
Source: Global Research
As first reported by Forbes, the International Monetary Fund (IMF) dropped a bomb in its October Fiscal Monitor Report. The report paints a dire picture for high-debt nations that fail to aggressively “mobilize domestic revenue,” which is code for “aggressively tax its citizens.” 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.
Why is the IMF proposing this?
Because global governments and central banks pumped trillions of dollars of YOUR money into the banks and stock market over the last several years, catapulting public debts to tens of TRILLIONS of dollars. But now,governments and central banks can no longer sustain these debt levels, and global wealth confiscation is their only way to maintain the Ponzi scheme. So it’s more apparent than ever, if you want to keep your savings & retirement out of the hands of desperate governments, there’s only one thing you can do.
The Wolves Are Starving for Your Money
First, here is the excerpt where the IMF clearly advocates a tax on your private savings to pay down government debt:
“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 tax rates needed to bring down public debt to pre-crisis levels are sizable. Reducing debt ratios to end-2007 levels would require a tax rate of about 10 percent on households with positive net wealth.”
You read that right: the IMF wants to take 10% of your private savings in addition to the taxes you’re already paying. But is that only the beginning of the proposed wealth confiscation? The report’s most chilling aspect is the clinical manner in which it discusses how all governments can work together to track and tax your savings:
“Financial wealth is mobile, and so, ultimately, are people. … There may be a case for taxing different forms of wealth differently according to their mobility… Substantial progress likely requires enhanced international cooperation to make it harder for the very well-off to evade taxation by placing funds elsewhere.”
As Forbes points out, there are three key points to take away from this report:
- 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.
- 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.
- If politicians should fail to engage in this kind of wholesale robbery, the only alternative scenario the IMF posits is government bankruptcy and hyperinflation. The IMF makes no proposes to reign in the Ponzi-scheme entitlement programs that are bankrupting us.
Forbes argues that this is where the bankruptcy of the modern entitlement state is taking us—capital controls and exit restrictions “so the proverbial four wolves and a lamb can vote on what’s for dinner.”
There’s Only One Place to Hide
With our desperate governments gaining unprecedented access to your personal savings anywhere in the world, you need to take action NOW to protect your savings & retirement from possible capital controls. But if the government has its hands in your bank accounts, retirement accounts and brokerage accounts, is any place safe?
Absolutely. There’s ONE asset class this sits outside the financial system and is completely secure from government confiscation and global economic collapse: Gold & Silver. Gold & Silver have been the best wealth protectors for over 5,000 years and have survived every government & currency collapse in history. Today, physical gold & silver are selling in record numbers around the world. Central banks around the world and nations like China are stockpiling gold as a hedge to any possible collapse of all the dollars they hold.
The government has spent way beyond its limits. And now you know that the government is seizing control of your financial accounts. So the time is now. Protect your savings & retirement with physical gold & silver before you have nothing left to protect.
It is quite conceivable that the elite have vast quantities of actual gold and silver that they have acquired over centuries. If that is so, they could easily flood the market and then buy whatever is left at bargain basement prices. In a worst case scenario, precious metals are hard or impossible to trade for necessities like food and water. You can't eat or drink precious metal any more than you can sustain yourself on worthless paper. Almost all of the mainstream "economists" would come forward with theories saying how preposterous this is, and claim that there is no precedent for this. We are ,however, in unprecedented times.
No, you cant eat and buy it preserves any wealth you have. Also not if but when the reset of the monetary system happens the new currency will be backed by gold and one can exchange their metals for the new currency. Metals have been around forever and are used in many electronics, medical devices and unlimited purposes. All powerful Empires accumulate it over time to be the future power. He who holds the gold makes the rules! Food is important, but wealth presrrvation is too. The elite establishment doesnt want your average person to buy and bashes the relevance saying its an old relic. Dont buy into the negative propaganda!
I believe Forbes is lying. I believe there is plenty of money and it is hidden. Forbes is for the rich and protects the rich. I don't trust them.
What about people whose survival depends upon their Social Security Retirement checks that are not an "entitlement", but rather, funds that they paid into all their working years? (or rather, was taken out of their paychecks by the government, before they even got their paychecks.) It wouldn't surprise me at all, if the government just suddenly stopped sending the retirement checks to seniors, especially since they already spent all the money they stole during all the seniors' participating working years.
Regarding keeping gold & silver on you or in a locking mechanism, neither of those strategies were very effective for the Jewish people whose houses were barnstormed by the Gestapo during WWII. Nothing is beyond the miscreants who don't want to be accountable for the debts they've incurred – it is likely that if they can't steal it in the form of "increased taxing" – they'll just come and take it out of your hands or your house – that's basically what they've always done, under the guise of "taxes". Returning the rule of The Constitution would take care of that, but at this point in time, that will never happen unless we call for a revolution; and then prevail. Our Founding Fathers would be ashamed of us, for what we are putting up with – and we should be too.
How did they know the Jews had metals? There is not enough police are military today to go house to house and it would be fruitless because the majority of Americans dont own any metals. Even when it was outlawed during Roosevelt's presidency, they didnt go house to house because only a few people voluntarily turned it in and were paid in dollars. Most people didnt turn it in. During that time, more people owned gold and that is why that law came about . However, there was one exception in that confiscation law which was if you had pre 1933 numismatic gold which are collectibles the confiscation law did not apply to people who had those coins and silver was not part of the confiscation law. The. Elites slways has a way out for themselves.
Global Wealth Confiscation can be achieved through usage of brutal military force (atomic weapons, weather/tectonic warfare devices such as HAARP and CERN.
The criminal minds behind this planned IMF bill attacked French Polynesia and Nepal to enforce the "reptilian doomsday" Agenda 21 and overthrow governments that not comply with their diktat.
Gold and silver could be a good place to store wealth. But buy it to hold it. Certificates won't help. Silver especially is so lowly priced at the moment, that small investment is very easy. Look up a bullion dealer in your area and start with buying an ounce per week. There are no dividends payed on owning bullion, but it is not taxed and can't be taken off you. Your savings sitting in a bank account or superannuation account are ripe for the pickings by the corporations. They did it in 2008. They will do it again.
Mammon worship. Sovereign governments are not limited by some numbers in a computer. Gold and silver are useless, worthless garbage and this entire fraud is dependent upon the duplicity of others.
No comments on this? Straight forward, but one additional input I'd like to add. If there is going to be a total economic collapse and these gold and silver sellers have all the inside scoop, which they all seem to have, then why would they sell it at all? Unless there's something I don't know entirely and that is these sellers are distributors and don't actually hold any of their product. Don't forget that how you store your precious metals is important, they have been confiscated before. It's best to keep your metals within immediate reach under some form of locking mechanism. Stay away from storage facilities and buying certificates, you want the physical item in you hand. At the time of this post silver: $16, gold: $1200, per ounce. It is advisable to spend no more than $3 over spot. If you're purchasing silver for monetary value, the picture on the bullion is not important and it may be ideal for you to buy old silver quarters, nickels, dimes. 'Til next time.
They probably wont sell it all, some will be sold to exchange into the new currency after the reset which it will be paper or digital but probably digital. Also for the few individuals that have metals, an underground economy will come about which has happened in the past. These high ranking psychopaths goals are never a sure thing, there are always ways around their rules. People have always been creative thinkers to circumvent whatever the new system is. I'm The only way for their plans to be successful, is if the fearful sheep go along with their rules. The power is in the people's hands based on population numbers. There are more of us than them.