Central Bankers Have Declared War on Your Savings

Saturday, November 30, 2019
By Paul Martin

By Andrew Moran
ActivistPost.com
NOVEMBER 30, 2019

When any one of the plethora of bubbles burst – pick your poison – and the next financial crisis impacts Wall Street and Main Street, how will the central banks and federal governments react? They have fired all their unconventional rounds of bullets, from subzero interest rates to vast money-printing. One other proposal could conceivably be giving your deposits a haircut, much like what occurred in Cyprus following the recession. This dyspeptic vision is not hyperbole nor is it paranoia – the tariffs have raised the price of tinfoil! It is unfolding right now as our globalist overlords are executing, or at least entertaining, fiscal and monetary measures to confiscate your wealth – directly or indirectly.

Plugging Holes in Swiss Cheese

Switzerland is one of the few European nations to record a federal budget surplus. The budget for the fiscal year 2020 will record a $615 million surplus, despite imposing pension and tax reforms that slashed revenues and raised spending. The Swiss government is handcuffed by a so-called debt brake, a balanced-budget amendment that mandates the budget to be in balance throughout the business cycle. This policy has decreased the debt-to-gross domestic product ratio to nearly 25%.

Although national debt levels are still at multi-decade highs, the fact that the government is taking red ink seriously should be music to the ears of fiscal conservatives. But to others, it is headache-inducing.

The Organisation for Economic Cooperation and Development (OECD) published a new report that lamented on the nation’s unwillingness to spend like some of its European partners. Authors stated that the Swiss are saving too much and spending too little, despite possessing the third-highest gross domestic product (GDP) per capita of all OECD members. It asserted that policymakers could “increase expenditures” within the debt brake framework that “would serve monetary policy, and economic and social positive impact.”

There are a few other European states that are living within their means. Germany is projected to maintain its budget surplus for the next three years: 1.2% of GDP this year, 0.6% of GDP in 2020, and 0.2% in 2021. The Netherlands is also recording a surplus of 1.2%.

At a time when European Union members are in dire straits, you would think that they would be championed as model E.U. states. Not quite.

Recently, European Central Bank (ECB) President Christine Lagarde bemoaned their surpluses, complaining that they would be better off spending the money on infrastructure and education. Desperate for a modicum of growth, Lagarde is of the philosophy that the only way to grow an economy is through government intervention.

Unfortunately, this is now the hive-like opinion in the international monetary order. You better watch out. The globalists are coming for your savings – and they have already initiated the war on your piggy bank, emergency fund, and retirement investments.

It’s War!

The Rest…HERE

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