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: