Inflation, Capital Controls & Savings Confiscation Will Be the Solution to High Debt
GramsGold.com
7/5/2015
As if the loss of jobs, stagnating wages, double-digit increase percentages on food prices, zero interest on savings and CD accounts weren’t enough-now the government will tax anyone who has any savings, to the tune of 10% or more.
The highest debt-to-GDP levels in 200 years could force advanced Western nations to adopt “financial repression” measures typically reserved for economically unstable debtor nations, including a tax on savings, warns a working paper published by the International Monetary Fund (IMF).
Savers are being robbed now, but will be punished even more.
A 10% Tax on all savings, plus rampant inflation,
is the plan for the government to get out of debt.
According to “Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten,” a working paper written by two Harvard economists who used to work at the IMF, Reinhart and Rogoff, note that “a mix of financial repression and inflation can be a particularly potent way of reducing domestic-currency debt.”
They define “financial repression” as “directed lending to government by captive domestic audiences (such as pension funds), explicit or implicit caps on interest rates, regulation of cross-border capital movements, and generally a tighter connection between government and banks.”
The Rest…HERE
