The International Monetary Fund (IMF) quietly dropped a bomb in its October Fiscal Monitor Report. Titled “Taxing Times,” the report paints a dire picture for advanced economies with high debts that fail to aggressively “mobilize domestic revenue.” 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.
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.
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.
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.
Learn more before it’s too late. Here are some key words to type into your google: International Monetary Fund, Taxing Times, cypress, global wealth confiscation. The IMF’s lengthy report (107 pages) can also be viewed online, it is titled ‘Taxing Times’ and you can read it here:
http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf
—This is not a drill
This article appears in Oct 31 – Nov 6, 2013.
OP, your post has germinated several thoughts in my head! Such as: How is this a bitch? Uh, this is definitely a load of bullshit. And, finally, why doesn’t OP just keep their fear mongering to themselves and cry quietly in the corner, insisting that we JUST OPEN OUR EYES.
Bastard Fish, how about you educate yourself instead of spewing ignorant remarks around like a dickhead?
I’ll answer you questions though:
1. This is a bitch because I am pissed off that this perpetual debt crisis is ruining our future and our standard of living and there are a lot of unanswered questions that no one is trying to answer. It is frustrating to me. Then I find out about this new gem from the IMF and yeah, I want people to know about it because the media isn’t talking about it.
2. It’s not bullshit, you can find the actual IMF report by following the link I posted. If you actually bothered to pull your head out of your ass and use what little wits you have left after inhaling your ass fumes, try and read. Just sound out the words, you’ll get the hang of it eventually.
3. Sharing information is fear mongering now? I guess I’m also a conspiracy theorist, even though the report is RIGHT THERE for you to read, eh? “Fear Monger”…”Conspiracy theorist”…terms used to discourage free thinking.
Ignorance is bliss Bastard fish and you must be in paradise. Enjoy it while it lasts idiot.
The IMF did not drop a ‘bomb’, they just released a hilarious PDF document that outlines a policy that is so unrealistic that nobody can take it seriously. That’s why no reputable media organization gives it more time of day than to publish a few passive articles debunking the ridiculous claims to ‘restore debt sustainability’.
And yes, I did click on the PDF and took a look at it. But it’s kind of hard to take anything it says at face value, since nobody else is singing the same song. Did it ever occur to you that they will publish data that that would be in their best interest? Just like any other elitist organization striving for power, they’ll push that agenda right in your face until you you start to like the smell.
Though, I can understand why you’d call me ignorant, you’re thought process is a little askew. Here’s a hint: there’s something else in that kool-aid you’re drinking.
I’m glad you can understand why I would call you ignorant – it’s a step in the right direction. You glanced at a 107 page document and came to your conclusions without reading it. I’d say my assessment was bang on.
Don’t get me wrong, I hope that it doesn’t happen but the ground-work has been laid and that in itself is a little scary. We all saw how fast Harper’s Omnibus bill was pushed through and how little we could do to stop it, though many in parliament tried. Thinking that the IMF couldn’t impose this kind of levy on developed economies is foolish. Also, it would not be the first time that this sort of thing has happened. 1970’s South America for example. It has also been done in Europe and Asia in the past 40 years.
” Learn more before it’s too late.”
It kind of sounds like it’s already too late, isn’t it?
I guess I could put off painting, though ..
I’m not saying that this is going to happen tomorrow but the fact that the IMF has actually taken the time to put this in writing is a little concerning. I’m not going to pretend to have all the answers either, I just read the document and thought people should be aware of it. Most people think it’s too far-fetched to happen, I think it’s a mistake to underestimate institutions like the IMF and the extent of their influence on sovereign nations.
Drama student shocked by the deductions on his first paycheck tries to talk econ.
Adorable. Let’s discuss game theory next. I’m ‘game’ if you are.
ugh.. leave numbers to numbers people, hipster. It’s far more complex than you’re making it out to be. of course. It always is more complex than you people make it out to be.
I’m not saying the situation isn’t ugly. I’m saying you have ZERO comprehension on the complexity and subtlety of the economy or how it works.
You know ZERO about my level of understanding on any given subject, you unbelievably pretentious dipshit. And I sure as hell ain’t no fucking hipster.
Fugly ass hoe – lookin’ like she belongs in some trap porn.
This is interesting, but as I’m an old fucker, my response would be the same as the late, great Groucho Marx “in the meantime, I plan on dying”.
RAISING MY DEBT CEILING
This gives new layers of meaning to the term “globalization,” none of which appear to be good. However, before it’s too late, I’m going to see my banker and get my debt ceiling raised. I am confident that this will resolve the issue.
In the meantime, we must remember that there will always be those magnificent labia.
A pleasure as always.
Cheerio!
what kind of rebuttal is calling your opponent ‘fugly’?
I read your original link on this in another thread, Hoist, and found it interesting. mind you, I always think the worst. however, your childish name calling dropped your personal credibility into the toilet.
My bum hurts.
when men think that the worst insult they can give a woman is ‘ugly’. or ‘i wouldn’t fuck her’
give your head a shake. what a pathetic attempt at insult.
so what can’t they tax/take away? pay off your mortgage so they can’t use it on you.
take your investment money, rrsps etc and buy shit that will make your retirement life expense free. generators, solar. wind turbines. wood lots. guns. a good cellar. chickens. lots of wool blankets. there is a dandy list of stuff to stockpile in the book Lucifer’s hammer.
i suppose if you really believe the kaka is going to hit the fan soon, rack up your credit cards to get all this stuff and then run for the hills, but i wouldn’t be comfy with that gamble.
“your childish name calling dropped your personal credibility into the toilet”
I laughed at that. Shall I use my skills as the resident word counter to list off all the insults that you have directed towards me?
http://www.youtube.com/watch?v=qFlb4X67r3k
You would have to live totally alone to not have heard about the confiscation of depositors money in Cyprus by the Government as ordered by their European Banking Masters. If you pay attention even to the pathetic American News services you will know of Detroit City & many other US cities declaring Bankruptcy … Mostly to avoid payment of pension plan monies they deducted from employees & basicly misappropriated/stolen & are looking for an easy way out.
If you’d bother to educate yourself you see inflation is agoverent backed banking cartel system of stealing from you & one need do no more than look at the falling buying power of the fiat currency notes to see hoe effective this has been. So the OB’s claims to watch out while late are certainly not yet too late !
There are ways to protect yourself financially & trusting banks & investment funds is by no mean safe nor is it secure . There’s a damn good reason why our grandparents who lived during the Great Depression didn’t ever fully trust financial institutions again.
You will not hurt yourself to learn from their examples
ooooo, it’s BITCHGATE!
http://img.gawkerassets.com/img/17wl92trr3…
It’s a conspiracy, where’s Jesse Ventura when you really need him?
back track!!
IMF Statement on Taxation
Press Release No. 13/427
November 5, 2013
In response to misreporting of an alleged proposal by the International Monetary Fund (IMF) on wealth taxes, Mr. Sanjeev Gupta, Acting Director of the IMF’s Fiscal Affairs Department, issued the following statement today:
“An analytical box in the recent edition of the Fiscal Monitor reviews a range of external discussions and experiences regarding a one-off capital levy. It also draws attention to the considerable downside risks of such a tax. It emphatically does not recommend a wealth tax.
“The analytical description of the issue in the Fiscal Monitor should not be misconstrued as an IMF policy proposal, which does not exist.”
IMF COMMUNICATIONS DEPARTMENT
Public Affairs
Media Relations
E-mail: publicaffairs@imf.org E-mail: media@imf.org
Fax: 202-623-6220 Phone: 202-623-7100
GDM, she started the name calling. Tit for tat. *heheh tit* sorry you are offended that I called her ugly, just speaking the truth. Actually, I’m not sorry. Would you still be all butt hurt if I called a dude ugly? Didn’t think so. Get off your horse – I don’t give a shit about my ‘personal credibility’ on this site.
Oh good, the whole thing was a typo. Whew.
oh for heaven’s sake if we are going to get bogged down in ‘who killed who first’.
she based her insult on your knowledge (or lack thereof)
you resorted to the equivalent of ‘your mom wears army boots’
now, the pretentious dipshit part is legit ammo in an intellectual debate. but ugly? nuh uh. what’s that got to do with her pov?
I was titillated enough by the ‘fuck you and your credibility’ to exert myself to hitting ‘like’. at least you show some testosterone, unlike the snivelling little poofter who clings to my words with pathetic fervour by ‘linking’ to me. wtf? I need a shower.
http://www.youtube.com/watch?v=Xz7_3n7xyDg
ha! I prefer your original, unedited reply.
so who is stockpiling for the coming apocalypse? I’ve got my joe set for two years
ha! You mean the one where I didn’t call you out on your feminist garbage? I bet ya did. Hey, don’t expect much from me, I’m just an uneducated hipster. 😉
http://i620.photobucket.com/albums/tt283/R…
points for the dawg^^
I’ve downloaded that document Hoist. Must admit, I know jack about economics but it should keep my lips moving for a couple of hours.
I’ll also have to google “trap porn” as soon as wife isn’t sitting directly behind me.
reg, let me know what it means, ok? I was too embarrassed to ask. ummm seeing as I am NOT a hipster and all that.
Yes, you should both look up trap porn. LOLOL Reg, make sure to clear your browser history or your wife might get the wrong idea!
Anybody else find it ironic that TGB is calling somebody else a hipster?
I find it ironic that WWII Advice Dog is wearing a German helmet.
Hmmmmm – that Bilderburg Group are a pack of crafty devils >; )
Just kidding Hoist. I’ll admit that most economic voodoo is well above my head, but I do know that various organizations, think tanks, etc spend a lot of time envisioning worst case scenarios. The Rand Corporation supposedly posited using tactical nukes at Khe Sahn. The Club Of Rome speculated that we would run out of oil, silver and molybdenum (huh?) by 1999. The End, when it comes will not be with a bang, but with an a series of increasingly pathetic whimpers.
or with our hair falling out and loose teeth.
http://www.huffingtonpost.ca/2013/11/04/da…
I’ve been following the whole collapse discussion for nearly four years. The way I see it, “they” (be they governments or corporations or financial institutions or whomever) can fuck with us at any time they jolly well feel like it and think they can get away with it. The bits of paper and metal floating around this rock that we think are so fucking important are really only as important as “they” can shove down our throats. The minute we decide to get our needs met through a different way outside of their arrangements, “their” money loses its power over us and may lose its value in the bargain as the new alternatives become more prominent.
So, what can we do to get out from under this monetary thumb? We can become more self-sufficient at the individual or small-group level; we can barter or give our surplus product to others to build up an exchange network or gift-economy network; and, through it all, we can keep our heads down and stay under the radar as the powers that be lurch and roil in their agonizing death throes.
Well said HalKell, couldn’t agree more. Very anarcho idea though, difficult to get people on board with these sorts of idea’s. See comments above.
Also, just to add, while I still agree with your comment, since posting this bitch I have become aware that the guy who wrote the forbes article about the “Taxing Times” report is a tea-bagger and might have been sensationalizing a wee bit. The IMF still put this idea forward in their report though and I refuse to believe that it was done by mistake.
I don’t believe it was an oopsie either, except for being outed.
if money guys extrapolate, they can justify almost anything. and since the consider human beings the ‘property’ of the government of the country they happen to live in….why not use those resources to pay off the debt of the government.
unfortunately there is no place left on earth that some artificial governing body has not staked out as its own so where does someone go who doesn’t want to be property?