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For Everyone Shocked By What Just Happened... And Why This Is Just The Beginning
Today, lots of people woke up in shock and horror to what happened in Cyprus: a forced capital reallocation mandated by political elites under the guise of an "equity investment" in insolvent banks, which is really code for a "coercive, mandatory wealth tax." If less concerned about political correctness, one could say that what just happened was daylight robbery from savers to banks and the status quo. These same people may be even more shocked to learn that today's Cypriot "resolution" is merely the first of many such coercive interventions into personal wealth, first in Europe, and then everywhere else.
For the benefit of those people, we wish to point them to our article from September 2011, "The "Muddle Through" Has Failed: BCG Says "There May Be Only Painful Ways Out Of The Crisis", which predicted and explained all of this and much more. What else did the September BCG study conclude? Simply that such mandatory, coercive wealth tax is merely the beginning for a world in which there was some $21 trillion in excess debt as of 2009, a number which has since ballooned to over $30 trillion. And with inflation woefully late in appearing and "inflating away" said debt overhang, Europe first is finally moving to Plan B, and is using Cyrprus as its Guniea Pig.
For those who missed it the first time, here it is again. Somehow we think many more people will listen this time around:
Restructuring the debt overhang in the euro zone would require financing and would be a daunting task. In order to finance controlled restructuring, politicians could well conclude that it was necessary to tax the existing wealth of the private sector. Many politicians would see taxing financial assets as the fairest way of resolving the problem. Taxing existing financial assets would acknowledge one fact: these investments are not as valuable as their owners think, as the debtors (governments, households, and corporations) will be unable to meet their commitments. Exhibit 3 shows the one-time tax on financial assets required to provide the necessary funds for an orderly restructuring.
For most countries, a haircut of 11 to 30 percent would be sufficient to cover the costs of an orderly debt restructuring. Only in Greece, Spain, and Portugal would the burden for the private sector be significantly higher; in Ireland, it would be too high because the financial assets of the Irish people are smaller than the required adjustment of debt levels. This underscores the dimension of the Irish real estate and debt bubble.
In the overall context of the future of the euro zone, politicians would need to propose a broader sharing of the burden so that taxpayers in such countries as Germany, France, and the Netherlands would contribute more than the share required to reduce their own debt load. This would be unpopular, but the banks and insurance companies in these countries would benefit. To ensure a socially acceptable sharing of the burden, politicians would no doubt decide to tax financial assets only above a certain threshold—€100,000, for example. Given that any such tax would be meant as a one-time correction of current debt levels, they would need to balance it by removing wealth taxes and capital-gains taxes. The drastic action of imposing a tax on assets would probably make it easier politically to lower income taxes in order to stimulate further growth. (See Exhibit 4.)
Curiously, not even BCG expected the initial shot across the bow to be so bad that everyone, not just those above the €100,000 threshold would be impaired. Alas, that is the sad reality in Europe, where as the chart above shows, a total of €6.1 trillion with a T in additional wealth confiscation tax is coming.
Oh, and US of A... fear not - your turn is coming too: with a price tag of €8.2 trillion in wealth tax pending as of 2009. This number is now somewhere north of €15 trillion.
The full BCG study which we urge everyone to read
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Gold can buy ammo, but ammo can take Gold. Plan accordingly.
Silver bullets kill vampires, werewolves and banksters. Silver FTW!
I will use my gold to buy a gun, I will then use my gun to take my gold back.
That tactic will only work if you're transacting with Joe Biden... Hell ~ you don't even need a gun... Just wait for him to empty the two barrels of his shotgun into the air to scare you off, then charge him with a pair of scissors...
~~~
Remember ~ Half the people in this country voted for this guy [twice]... So how hard can it be?
Anyone who didn't already buy a gun before the prices went apeshit would be insane to pay the prices they want now. You'd do better to lay low on the day the shooting starts, then when the smoke clears, just go scavenge free ones off the corpses that were on the losing end. There'll be plenty of free guns to go around on that day.
I will use my gun to seize a better gun and so on and so on...
Learned that playing 'DOOM' I imagine...
DHS has...
If this is the sound of the other shoe dropping and nobody hears it, is there a sound?
Yeah, there really is. We have resolved this one once and for all.
as in re-solved or in the kings english resolved (fixed for good), LOL
Guess what, I'm buying "STUFF", because it's "stuff" that they want now instead of fake money... that's why they engineered this crap. You know..."stuff" like the houses and land you are living on right now ?
Let's talk about the end game, it's just like the great Depression. As Fabius Cunctator himself must have said "We just want your Land". He really was a Cunctator.
http://www.alor.org/Political%20Democracy/They%20Want%20Your%20Land.htm
On the ammo point, I wonder if any politiciain in the US would have enough balls to do this given our "Second Amendment Remedy".
I still cannot make sense of it, not shocked, but if their goal is to initiate a bank run, to scare people, I'd say that they will achieve chaos, for sure.
Something must be going really bad. Still reading.
They want outright capital flight...remember these are the last people holding Greek paper.
I don't understand. Please explain.
I know they are trying to collapse the system and NOT get blamed for it.
But like this, germany will get blame. Something tells me that trade and capital movement has all but vanished in europe.
They are chasing the 'evil' russian/oligarch/drug/jew capital away - simple voodoo.
I just hope the bulldozer driver accepts MasterCard, Visa, or American Express.
It really is the EU re-enacting that notorious blazing saddles scene
A killdozer rampage may be just the thing to kickstart the economy. Operation broken bank facade fallacy.
Well it worked with Rachel Corrie.
Yeah and it will work for Merkel. The german majority will see it that way, given they'll even care two days later.
Of course CHF/EUR and last summer's favorite AUD/EUR got already bid up nicely, so it doesn't take a hardcore conspiracy theorist to think that those who count are out already. That bank CEO talked about rumors in the other post too. (BTW we got that blowout Australian employment report the other day: 70K vs 10K expected. Someone with BBG terminal, how many std. deviations is that? Bet it's well above 3, so not even 1:1,000,000 probability?)
@ekm Yours is basically the same question that swissaustrian asked under the other post.
Pretty controversial move indeed that could arguably fuel alienation between pigs and core. Why do something like this if the pigs are fixed and the confidence is back? Why does the German pope leaves Italy?
"because prices are about to collapse in europe." car sales have collapsed...industrial production has collapsed. the only thing that hasn't collapsed is the d-ma...er, "EURO." they're swimming in oil, natural gas and distillates just as we are over here. "and that's the tax base." your "bay of funding" is looking like "the Bay of Fundy" right now: http://www.youtube.com/watch?v=qfhNjpu_IU4
Are the Jews in with the Russian mafia, too?
nothing like this:
just the exact opposite. no need to bre4k the pattern that has worked for the eu so far. just kick the can and buy themselves yet another day to figure out who's got unencumbered assets to steal and re-pledge
Yes, you are correct. +1Pseudo Anonym In one of Tylers earlier posts re; Cyprus (GDP vs Financial holdings is something like 4:1 ratio.)
Cyprus wants to tax the hell out of [Russian Cartel] money. The Corp tax rate in Cyprus is only 10%. Cyprus doesn't want to chase Russian money away. The Greeks would over run the rest of the Island. < sarc>
They want to tax ________? Really, the money is going to get real hot, real quick.
+1 one on that comment.
Cypriot GDP 1: KGB Mafiya 4...
Initially the cattle rustlers will act as your friend to gain your trust, but once they are firing off their guns to spook the herd, no pretense is needed. This is about herding the remaining wealth into safe havens (equities, bonds and other bank instruments the rustlers just happen to control).
re "This is about herding the remaining wealth into safe havens (equities, bonds and other bank instruments the rustlers just happen to control)."
sarc off?
In terms of gold and silver, bank blow, bonds, dollars and stocks are down some 98%.
SPX is where it was in 2007 and silver outperformed BRK five times...
Everything IS flat except stocks. Gold and silver have been held in check and most just won't go there as they still believe in the system. The banks are not paying shit nor or treasuries, but those are garaunteed. Stocks have no warranty, they go down and ..its gone! The easiest way to liquidate your assets, the stock market. But hey, what do I know? BTFD, right?
I dunno know. I assume Cyprus banks use the fractional reserve system. People make a run on the banks, most won't get their money to move to other assets. It's *already* gone.
Agreed. Quite counter-productive unless it's a shock and awe kind of thing to force the Southern Tier out of the Euro.
In my mind, the only connection I could find is german elections in september 2013.
Merkel is addicted to power and she could be cooking up sth.
She must have received the REAL ECONOMIC numbers. Probably by september germany would be in full recession so she's thinking to crap the whole thing right now and hopefully be hailed as a saviour by september.
Europe's problems are too big to be fixed by September - not this year or the next or the next. Come September, Merkel will be out.
To be fair, economic numbers seem to have little to do with elections. See the most recent US election for an example.
A few months ago, I read (probably steered there from here) an article titled and/or to the effect that It's Not the Economy, Stupid. The point being that a now majority of American voters (.gov.union, welfare recipients, etc., and the like) do not give a shit about anything but keeping the money flowing to them. They don't know about Austrian theory or any of the others, and wouldn't give a shit even if they did.
They're all nothing but gangsters. ("But, Paulie, I had to take my daughter to the emergency room." "I don't give a shit about that. Where's my money? Give me my money!")
There's now more of them than there are those like us. In California, there are 139 government employees and welfare recipients for every 100 in the private sector, and remember ... democracy is 139 wolves and 100 sheep voting on what to have for dinner.
Failed to make a point; in fact, THE point in the above-referenced article: The parasites do not give a shit about 'jobs'. Either they already have (in the case of the government employee) a job with pay, benefits, perks, etc. that will NEVER be matched in the private sector or they (in the case of the welfare recipients) could not be any less interested in finding a job. For both of these groups, it is a matter of sublime indifference whether there are 300 million jobs or not a single one.
Did you see Merkels competition? The guy is a joke. He is there to lose the election to frau Merkel.
You missed the recent elections in Cyprus, then. This was a time bomb that the previous administration had already devised and agreed to in anticipation of February's election; the incoming administration took over at the beginning of the month and had absolutely no clue that this was already waiting to happen.
Why? Simple: the outgoing administration (Christofias of the AKEL Communist party) wanted to discredit the incoming administration (Anastasiades of the Democratic Rally conservative party). The outgoing admin used the EU/ECB/IMF to make the new guys look bad. Anastasiades pretty much said this in his remarks: the problem/solution didn't just arise in the past two weeks but had been cooked up long in advance.
Merkel isn't omnipotent and doesn't pull all the strings: she's reacting (flailing?) like everyone else. Every bit player in the periphery is trying to use the crisis to discredit every other bit player, and there are enough small-time, scorched-earth turf wars being fought to add up when considered as part of the European whole. This is not a top-down problem of JewMasonCatholicIlluminatiLizardMen making, but a bottom-up problem resulting from endemic corruption on a vast scale stretching from the pillars of Hercules to whatever godforsaken hellhole is the latest Slavic mafia state to join up (Bulgaria and Romania?). The Rule of the Enlightened Lizard Men would have been much less painful to endure.
Son of Ulisses, I am throwing hypothesys out there. I do not disagree with you.
Son of Ulisses, I am throwing hypothesys out there. I do not disagree with you.
The bankofascists are going full-retard.
If we're already at full-retard then full-reverse-retard is hopefully next. Does the throttle assembly even have this capability?
Sorry to disappoint, but up next is probably ludicrous-retard, when we all go plaid and bleed from our asses.
Full-plaidtard, bitchez.
Still holding Plaid Stamps and Pfeister Barter.
Have it on good authority that "you should never go full retard."
Like all these people?
'Lawsuit expands over radiation exposure during Fukushima disaster'
"Nevertheless, the plaintiffs claim they have suffered a number of ailments they say are linked to their exposure, ranging from headaches and difficulty concentrating to rectal bleeding, thyroid problems, cancer, tumors and gynecological bleeding."
http://www.stripes.com/news/lawsuit-expands-over-radiation-exposure-duri...
Just a coincidence that Taco Bell just launched the Doritos Locos Tacos.
pods
Never go FFR, Full Flank Retard.
They had to do it. Cash was the last unencumbered thing left in all of Eu rope
Questions:
1) How much is Russian money and how much is cypriot money?
2) What is russian money?
3) Are they going to do what they say they will do, meaning they may say they will apply the levy to cypriots, but they will apply it to russians only?
4) (the most important) Are they trying to lure Putin to do something stupid in order to blame him for the collapse the west so much wants but does not want to be blamed for?
Cause Putin attacked the country of Georgia when George Bush asked him to take a haircut on the fannie and freddie bonds in 2008
This smells.
Try this link EKM. I love your tenacity. You remind me of ME! http://www.rcbcy.com/
I'm listening to this right now.
Am addicted to learning. Never stop learning Yencross, never, otherwise you die, you simply die.
EKM. Thanks for
Claudio Arrau Beethoven "Appassionata" (Full)I have massive amounts of technical info to go through and disseminate.
It will lift up your spirit.
You will learn faster.
This one the best performance I've ever listened to, ever. It's heavenly.
Enchanting!!! Thanks for that. What a performance! The savage beast s caged.
re "Cause Putin attacked the country of Georgia when George Bush asked him to take a haircut on the fannie and freddie bonds in 2008":
Actually Saakashvilli tried to annex South Ossetia with military force and Medvedev routed them:
http://en.wikipedia.org/wiki/South_Ossetia
http://venitism.blogspot.ca/2013/03/eurokleptocrats-and-russians-lock-ho...
The more I read the more I get convinced this is an anti-Putin move.
Talk about deposit haircut seems to be 1 week old.
Except that the Russians have been getting their money out throughout this week (up to Friday).
wow, wow, wow MUST READ.
It looks like russian elite infighting.
This has an anti-Putin odor all over it. It seems to me that Putin wanted the oligarch's money and they are hitting back.
I've got the popcorn ready. I'm enjoying this.
http://imrussia.org/en/politics/397-putin-tries-to-bring-the-money-home
Putin is pullin'-out?
What did K. Bass say about all those recent billionaires created so quickly?... and how deserved all of it was.
How much in Russian deposits?...Cyprus will vaporize.
Thanks ekm.
Let's see how it evolves.
1) Europe is trying to help Putin
2) Europe is trying to harm Putin.
Unclear.
How does that relate to Europe?
delete
.
http://www.bloomberg.com/news/2012-08-29/swiss-style-latvian-banking-hub...
According to this one, there 350billion russian money outside russia.
Isn't that $350 million in "EuroRuble"s?
1. Putin wants Russian money in Russian banks
2. Germany / IMF taking 10% off the money from Russians via their Cyprus accounts will do what? Scare them into taking their money back to Russia.
This looks more like a tag team with Putin than an anti-Putin move to me.
Possible. It could be either way. It's entertaining though.
Russia has tons of natural resources, but not manufacturing base. Gemany has a world class manufacturing base, but no natural resources.
When the European Union goes boom, I got my chips on a new Russo-German alliance and most of the rest of Europe becomes second class.
I am very much looking forward to future ZH coverage on this saga, its getting deep fast!
Regards,
Cooter
Get it right here folks...pop corn...peanuts...cotton candy...tipperellos. Step right up!
Euro let Putin and his "black money" friends wash looted billions through Cyprus.
To go easy on Europe on russian gas prices.Putin discoverred they pulled to much out and this is leaving Russsia low on doe! Additionally,with the HUGE gas fields found in CYPRIOT waters,the quid-pro-quo can be unwound.and so,grab the Russian black doe before it's bye-bye.Nothing personal to Putin,just business.
+1 ekm! Great catch! This explains much and connects a few of the dots. Putin has been blackmailed.
keep drinking the veggie juice EKM, thanks
Could the asset tax be considered an acceptable laundering fee for these Russian accounts? "There, it's been taxed, it is now legit?"
Honor among theives? In exchange for a little ransom, we'll grant immunity, kinda thing?
And there it sits, free and clear, dead center of the gateway between east and west.
Guess a run next week would blow my sophomoric posit, but...
Order out of chaos? Fuck these assholes we out number them.
And a week before Easter... lets see if the sheep smell the slaughter house blood and run.
something about death and resurection.
Goodness these fuckers a bold as brass
Remind me again how WW1 started? A killer crystalising event?
This is all good for the USD, as a flight to safety. While Europe burns. Oh, and The City of London also gets its ass saved.
Again the banksters still get fat boners..us
Here's one difference between the States and Europe,
The US has 50% of the world's privately owned guns.
Source: Harper's Magazine
1776!!!
No kidding! Molon Labe!
Well, I don't know about that... that's a tad bit extreme, don't you think?
I mean, do you feel that we, as U.S. citizens are being taxed at an unfair level without being genuinely represented by those who profess to represent us in the Local, State, and Federal levels of gooberment?
Melon Labia! (They say this a lot at nudist camps.)
I kid you not, but I've heard Oh God, oh God more often. And you know what the answer is to "Come here often?"
"As often...'
With the DHS buying 2+ Billion (...as in billion with a "B") rounds of ammunition, a plethora of "defensive weapons", "no hesitation" paper targets of pregnant women, children, and grandpas (who happen to all be white BTW), armored transports/tanks, drones, Threat Fusion Centers, etc... and MORE...
What ever would they need all that for, me wonders?
Never fear! Only conspiracy theorists think all that's true.
How did 1.6bil become 2bil now? I'm not fan of the DHS, but a 1.6bil contract over 5 years for 130k armed personel boils down to 2500 rd per person. If you carry a gun for a living that is barely enough to maintain a minimum level of competency. And before someone tells me how 130k people in the DHS is a lot, 100k or more of them coast guard and border patrol and the reminder includes the secret service.
There is enough real bullshit and abuse to worry about, how about we don't make more up?
Don't qite square with NOAA and SS buying them.Then theres the little matter of
the 2700 IED proof streetsweepers plus the militarization of the cops.
Hollowpoints are not used for target practice anyway,only good for live(tepmorarily) humans.
And think how much of that ammo could get into the RIGHT hands
That 1.6 billion rounds weighs about 27,000 tons. How much is that?
To put it into some perspective, visualize an Aegis class guided missile destroyer, one of the largest ships currently deployed by the U.S. Navy. A bit over 500 feet long (almost the length of two football [American] fields), and about, oh, what? Ten stories high? Doesn't matter. You get the idea. Big fucker.
That 1.6 billion rounds weighs as much, no, not as much as one Aegis class destroyer.
It weighs as much as three of them.
Nothing is IED-proof.
1.6 billion rounds of hollow point ammo is enough to fight the Iraq war for 20 years.
Hollow point ammo is not allowed in war as part of the Geneva Convention. So no, you couldn't fight the Iraq war for 20 years.
And the Coast Guard is part of the armed forces and not included in the ammo binge.
Anyone see how many plastic coffins are being strategically located throughout the country? Just sayin'.
Hollow point ammo is also generally significantly more expensive than fully jacketed rounds (the only kind allowed by the Geneva Convention in warfare), so not only do they NOT make sense for practice shooting and training, they would ONLY be allowable and useful in domestic situations, ie.e, against civilian targets by definition.
I actually checked on this is cops I know, they all practice with exactly the same type of ammo. To you and I, that seems expensive, I don't practice with carry ammo, but a lot of polcie departments do.
Then there is the issue of Cost Guard, who are indeed part of DHS nowdays http://en.wikipedia.org/wiki/United_States_Department_of_Homeland_Security
And the issue of NOAA who does indeed have an armed force for Fisheries and Wildlife enforcement
On the issue of MRAP's .. please find my procurment order, you will be hard pressed, as far as any research can tell this is actually bullshit, the last order for 2700 vehicles was from the Marines; http://littlegreenfootballs.com/article/41713_Fact_Checking-_Obama_DHS_P...
Again, we live in a increasingly aggressive police state, no doubt, but if we let ourselves be distracted by bullshit that can be disproved we look like loons and people don't take us seriously when we have real problem to complain about.
It makes utterly no sense to practice shooting with the more expensive hollowpoints, when a fully jacketed round of the same configuration and charge weight is going to perform exactly the same as far as the firing parameters are concerned --- the only difference lies in how the bullet hits and penetrates the target. I am skeptical of your claim.
PS: Anyone using the egregriously pro-status-quo, pro-authoritarian, pro-statist website LittleGreenFootballs as a supposedly objective or authoritative source of honest and reliable information only does a disservice to their own argument.
Thats ok, fact check me. Ask some cops or federal agents. I run into them at shooting competitions and I count some of them as friends. Not only are most of them pro-gun (and frankly on "our" side) but they are pretty open about how they train. When they can, they practice with the same ammo the carry which does actually make sense. The recoil impulse of hot ammo is different then that of "cheap" practice ammo.
I shoot around 10-15k rounds every year and spend quite a bit of time adjusting my loads by a couple of tens of a grain of powder because it makes a difference.
As for my source, thats fine if you don't like it, but please find me a source for the purchase of armored vehicles. Even navi-star's webpage lists an order for 2717 vehicles which is where the rumor started via SurvivalBlog and Alex Jones which matches exactly the Marine order. So please, show me the purchase order where DHS ordered MRAPs
hollowpoints don't always feed as reliably and may have a different point of impact even wiyh the same bullet weight and powder charge. i know this from my former profession and as a reloader.
Someone posted a video on ZH and the officer in the DHS was descrbing how they would use it.Why would DHS be serving warants in the US ?
If there was still somebody left in the US with something worth 'nationalizing?'
Bandgap, do you have a link for the coffin thing and locations?
Plastic coffins? Let's be honest and just call them maxi-size Hefty Bags.
The town of Madison Ga was one of the plastic coffin locations in the US. Madison is about an hour East of Atlanta just off of I-20.
Hold your nose as you drive through on the Interstate.
.
well, depleted uranium is "not allowed" - yet they've been using it at least since the "Yugoslavia" war, and most definitely in Iraq.
"they" do whatever the hell they like. plan accordingly.
Shit, you'd think they'd follow the rules. What the hell kind of people are running these wars anyway?
Hollow points are a bit passe, 25 and 30mm explosive cannon shells and high rate of fire grenade launchers are now commonplace weapons, and one round is more than capable of blowing a human into about 10 chunky bits. Body-armor is never going to cope with that.
Infant --> Infantry
Shouldn't be all that complicated for eager young 'patriots' to grasp except 99.999% are compliant gerbils trained to believe their State is their best-friend, or big-brother, thus sign-up well before that common misapprehension of the true nature of their relationship is dispelled. And when every state is doing that to the infants, it's kill-or-be-killed time, even if they do all realise they were deliberately suckered into a meat-grinder.
Dear Sir, you being out of sync with an admittedly fast paced information stream does NOT mean it's not true.
Also, yes... it WAS 1.6billion rounds until people digging for more unusual DHS purchases found more ammunition orders.
We send soldiers to Iraq/Afghanistan with them training with under 1000 rounds of ammo. NYPD qualifies annually with 50 rounds (which explains a lot, actually.)
The number of active-duty, gun carrying members of DHS is much smaller than the total DHS headcount. Sorry, the ammo buys are way, way out of line with current reality and usage patterns.
Your math is off by about a factor of 5.
outofideas
Want to stop the bullshit?.
Explain ONE reason why they have put 2700 NEW MRAPS into the system.
More than were in Iraq, and Trashcanistan.
This real nufff for ya?.(plus we have had SO many terrorist attacks since 9-11, right?.)
Sure, show me the MRAPs. Show me a purchase order. Show me budget line item. Show me the company building them. You want real then prove that the DHS ordered 2717 MRAPs. As I said before I can find you a purchase order for exactly 2717 MRAPS rebuilds for the Marines, would you be so kind.
outofideas
What patch is he wearing, and who would have access to PO's for the Dept?.
http://www.youtube.com/watch?v=0pS9aw5pcJo
http://www.thegatewaypundit.com/2013/03/obama-dhs-purchases-2700-light-armored-tanks-to-go-with-their-1-6-billion-bullet-stockpile/
Yep, I didn't say they don't own any, they own 16: http://www.businessinsider.com/homeland-security-serving-warrants-mrap-2...
Now, I can find you the purchase order for the military: http://www.defense.gov/contracts/contract.aspx?contractid=4701
Its amazing how that number is exactly the same number that Navistar listed: http://media.navistar.com/index.php?s=43&item=533
So .. some blog decided to cut and paste the numbers from order and assume the DHS also ordered as many as the Marines. Nice, really believable too with no additional verification.
Navistar is publicaly traded company, they'd be screaming from the rooftops to get the stock up if they had an additional contract.
Sure, they are buying the bullets for normal training, but it must also be a contingency against expected black swan events. They would be fools not to expect such events. Such things must be routinely discussed at Cabinet meetings.
I find it hard to believe those guys shoot 2500 rounds per year on the range. Perhaps one fifth of that.
I think the DHS makes it's intentions very clear, very intentionally. The fear factor is as powerful a tool set as the purchases they announce. Sorta like the Feds jawboning effect in creating market perceptions.
Yeah.
And something tells me that the US military would end up siding with the citizens. Very patriotic bunch.
All except the DHS. TSA will rule the land, no so disciplined bunch.
They will not. They are carefully trained.
You'll stop scoffing when carefully trained TSA agents roll into your town, sticking their blue-gloved hands into any and all available orifices.
***US military would end up siding with the citizens***
There is a reason that the NDAA specifically gave the power to the military to pick up U.S. citizens and hold them without charges or trial. They are sure the military will do what it is told. It's time to drop this childlike belief the the military leadership is on the side of the people. The military will be the ones rounding up dissidents and filling up the FEMA camps. With NDAA we have a military dictatorship.
the "military leadership" are the few....the soldiers with the weapons will side with the people.
There will be some at first, but these will quickly be marginalized. Some will be quickly court marshaled and confined. Others will be confined to VA mental health facilities. The military is very efficient at silencing descent. As the U.S. citizens loose their rights, it will be worst in the military. A solder will obey or else. Americans have been conditioned over the years to believe in the military as a force for good, justice and honor. They're in for a shock.
This comment is true. The soldiers will be told what ever it takes to get them to shoot Americans. It is terrorists, the group is foreign supported, etc...
Remember the civil war? Brother killed brother.
and people question the crazies that are exchanging their excess fiat currency for the real money of delivered gold and silver.
tax on fiat wealth is here and it will spread like a wild fire. and the reason will be "its only fair".
Who is John Galt?
The 'it's only fair' argument will also be applied to the owners of gold, and they will come for it.
well, what's the differnece since 2007?!?
The inflation tax is worse than the one off 10%!!
It won't be one off, and it's deflationary as hell.
People whose money was stolen won't spend it.
Except we get both, this way.
If we use gold a purchasing power proxy, it was EUR 551 at the end of '07, and it's EUR 1218 as of February, so let's just say purchasing power has been cut in half due to inflation (I get 54%).
Tack on another 10% of what's left, (about 5 points) with this, you get a saver in Cyprus having 60% of their purchasing power taken in 5 years.
I think the key here is that why have to be pretty desperate to make this move, if it's just a tiny fraction of what they've got via printing.
A unique one off Govt. tax.
Like the 'temporary' income tax ?
Holders of physical cash didn't take a haircut. We would do well to learn from their painful lessons.
Next time they will. Those Eurocrats are very sneaky.
rest assured people of Cyprus....
your money will go to money heaven... the Russian Mob Money Heaven....
As we already knew, the well connected, the political class, those who can buy political power will get saved from the hell that they helped create.
And don't forget, we all sat by and let this happen. We were stupid, lazy and smug.
When it happens here, as it must, I won't resist to say that we shall get exactly what we deserve.
I understand your attitude, it's frustrating. But you are wrong. If ZH took your attitude THEY WOULD GIVE UP THIS BLOG AND SAY FUCK EVERYONE, YOU ARE GETTING WHAT YOU DESERVE.
They don't, I won't, please don't.
The saddest thing is that everyone is doing about the best they can, today, given the chemicals and "programming" they have been subjected to through "diet" "meds" and "entertainement."
I't hard out there, even if you are not a pimp.
Those of us of 'a certain age' will remember an important poster. It's a nasty looking hawk bearing down on a little mouse. The little mouse stands there defiantly, giving the bird 'the bird.'
I usually feel like that little mouse.
Let the hawk try that on a 'MOOSE'...
Beginning? You mean the next leg up in the Dow?
Sieg heil Babylon!! :)
Fuck you Draghi!
If I understand this idea correctly. They will take a one time tax on wealth since that wealth is not as valuable as the holders believe, so this is a good way to fix bad policies by individuals and governements.
Okay this makes sense. What does not is who the f**k thinks they will only do this one time?
I am already losing real money every single moment I have assests in a bank account. Thank you Uncle Benn.
If this was done in the USA I would no longer keep any assest beyond my monthly needs in a bank account of any kind. I would also no longer particpate in transactions above this set amount for any other purchase. Do the PTB really believe they can steal from me and I do not have any recourse?
I can opt out. Or can track their family members down and extract a one time 100% tax on their wealth.
"I can opt out. Or can track their family members down and extract a one time 100% tax on their [wealth] health."
FTFY
(strikethrough doesn't seem to work)
Governnment, by its nature, is a tax on wealth.
Fucking Iranians........
sorry bibi
US govt. debt is $16.7 trillion today and unfunded liabilities are $123.1 trillion, and they together rise about $8.2 trillion a year.
To get US debt and unfunded liabilities to 180% of GDP, one needs $110 trillion dollars today. Or about $118 trillion next year.
So when the BCG claims that US needs only 8.243 trillion Euros ($10.7 trillion) to bring down debt to GDP down to 180%, they are off by more than a factor of 10.
A Lakh of trillions here,its all fantasy fiat anyway.
Buy PM.s now before the sheeple catch on(unlikely as it might be).
A fock of Black Swans this way just passed.
Get out while you still can.
Baaahh
That's a simple rounding error in today's version of accounting.