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The IMF Disagrees With Zero Hedge
On Thursday, after we presented an article by Simon Black in which the author suggested that the IMF was implicitly proposing a 71% tax-rate on Americans, by "suggesting that the US government could maximize its tax revenue by increasing tax brackets to as high as 71%", the IMF took offense to this characterization, and tweeted out the following:
@zerohedge is wrong: IMF does not propose a 71% income tax.
— IMF (@IMFNews) December 13, 2013
Naturally, the IMF has a right to its opinion, be it retroactive revisionism, or proactive humorous predictions about the future, which incidentally we have charted in the past showing just how "accurate" the IMF's forecasting track record has been in recent years...
... but since the topic of taxation, be it on wealth (something we warned about in September 2011, which as depositors in Cyprus banks learned about the hard way in March of this year), or income, is far less humorous, we leave it up to readers to decide just what the IMF is "proposing", using only the IMF's own words.
Below we present the key passage from the IMF's October 2013 Fiscal Monitor report titled "Taxing Times."
Whether those with the highest incomes could or should pay more has become a contentious political issue in many countries. Several, given large consolidation needs, have bucked the decades-long trend by increasing top personal income tax rates quite substantially: since 2008, Greece, Iceland, Ireland, Portugal, Spain, and the United Kingdom have all done so, on average by more than 8 percentage points.
Assessing whether there is untapped revenue potential at the top of the income distribution requires comparing today’s top marginal income tax rate with the marginal tax rate that would maximize the amount of tax paid by top income earners. The latter depends on two things: first, how responsive their taxable income is to that marginal rate—which in turn depends on both “real” decisions (on labor supply efforts and the like) and “paper” avoidance activities; and second, the distribution of income within that upper group. Ranges of revenue-maximizing top income tax rates can be calculated by combining existing estimates of the elasticity of taxable income with the data on income distribution used above. The average is about 60 percent. In several cases, current top marginal rates are toward the lower end of the range (Figure 17), implying that it might indeed be possible to raise more from those with the highest incomes.
How much more? The implied revenue gain if top rates on only the top 1 percent were returned to their levels in the 1980s averages about 0.20 percent of GDP (Figure 18), but the gain could in some cases, such as that of the United States, be more significant. This would not make much of a dent in aggregate inequality, for which, if that is the objective, more dramatic change would be needed.
Figure 17:
Furthermore, here is additional commentary from the WSJ dated December 3, 2013 with "The Coming Global Wealth Tax", preceding our article if picking up where we left off in September 2011, and curiously a piece the IMF had no problems with:
What the IMF calls "revenue-maximizing top income tax rates" may be a good indication of how much further those rates could rise: As the IMF calculates, the average revenue-maximizing rate for the main Organization of Economic Cooperation and Development countries is around 60%, way above existing levels.
For the U.S., it is 56% to 71%—far more than the current 45% paid in federal, state and local taxes by those in the top tax bracket. The IMF singles out the U.S. as the country where raising top rates toward 70% (where they were before the Reagan tax cuts) would yield the most revenue—around 1.25% of GDP. And with a chilling candor, the IMF admits that its revenue-maximizing approach takes no account of the well-being of top earners (or their businesses).
...
Of course these measures won't return the world's top economies to sustainable levels of debt. That could be achieved only through significant economic growth (the good way) or, as the IMF puts it, "by repudiating public debt or inflating it away" (the bad way). In October the IMF floated a bold idea that didn't get the attention it deserved: lowering sovereign debt levels through a one-off tax on private wealth.
As applied to the euro zone, the IMF claims that a 10% levy on households' positive net worth would bring public debt levels back to pre-financial crisis levels. Such a tax sounds crazy, but recall what happened in euro-zone country Cyprus this year: Holders of bank accounts larger than 100,000 euros had to incur losses of up to 100% on their savings above that threshold, in order to "bail-in" the bankrupt Mediterranean state. Japanese households, sitting on one of the world's largest pools of savings, have particular reason to worry about their assets: At 240% of GDP, their country's public debt ratio is more than twice that of Cyprus when it defaulted.
...
From New York to London, Paris and beyond, powerful economic players are deciding that with an ever-deteriorating global fiscal outlook, conventional levels and methods of taxation will no longer suffice. That makes weapons of mass wealth destruction—such as the IMF's one-off capital levy, Cyprus's bank deposit confiscation, or outright sovereign defaults—likelier by the day.
Indeed, here is the IMF on the prospect of a "one-off" financial asset tax:
A One-Off Capital Levy?
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 appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). There have been illustrious supporters, including Pigou, Ricardo, Schumpeter, and—until he changed his mind—Keynes. The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away (these, in turn, are a particular form of wealth tax—on bondholders—that also falls on nonresidents).
There is a surprisingly large amount of experience to draw on, as such levies were widely adopted in Europe after World War I and in Germany and Japan after World War II. Reviewed in Eichengreen (1990), this experience suggests that more notable than any loss of credibility was a simple failure to achieve debt reduction, largely because the delay in introduction gave space for extensive avoidance and capital flight—in turn spurring inflation.
The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth
... which promptly resulted in this "IMF Statement on Taxation" clarification.
So is Zero Hedge wrong as the IMF broadly trumpets? We'll let readers decide. However, we just wanted to set the record straight - after all the last thing we want is for the IMF to admit it is wrong once again as it did in early 2013 with the whole "fiscal multipliers" fiasco (about which incidentally the IMF would be absolutely correct if instead of "austerity" the IMF were to use the proper term in its calculations: "corruption, gross government incompetence and epic capital misallocation").
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"The ZH readership agrees that 71% is an unreasonable number"
Metaphorically speaking the IMF can't finds its keys to the vault in that Gucci bag of tricks!
FUCK YOU LEGARDE YOU GEORGE HAMILTON LOOKIN ASS UGLY FRENCH BANKER CONTROLLED WHORING CUNT.......
Up arrowed you, KS. The bitch Legarde is from Chicago like the rest of the CRIMINALS. She is not FRENCH.
It would appear that fake tanned stupid two holer logged in to down arrow you.
Can you say "fake and bake"?
Way too subtle, Kais. Tell us what you really think.
So the IMF reads zerohedge. LOL.
Now if they'd only pay attention....
or weren't corrupt as an entity
a rebuttal pre-supposes paying attention. now if we could just get on board a plan ourselves..
I wonder if they have a ZH-account. Think about it, the IMF up - or down voting comments. LOL.
I have a question for the IMF and all central planners that join reading these comments: WHERE IS GERMANY'S GOLD!!?? AND ARE WE AT WAR IN MALI TO REPATRIATE THAT GOLD. YOU CAN CONTACT ME BY POSTING THREADS ON ZH. THANK YOU!!!
I have another question for IMF:
How can you be so evil to work in tandem with CIA to instigate poverty and war?
IMF, this is what a desperate crowd looks like: Fast FWD to the 32:23 minute mark please. Consider the results.
Rage Against the Machine - The Battle of Mexico Cityhttp://www.youtube.com/watch?v=If2kiKAqyPY
Watch "A Film Unfinished" and then "Empire in Africa." (Netflix had them both)
The Global Monetary Powers are running third world ghettos in much the same main manner as Hitler ran his ghettos with two important differences: 1. There are no need for fences and 2. Improved marketing skills.
Otherwise, the two systems are basically the same - Put someone in power to rule over the people, deny them resources to keep them impoverished and then wait until a large portion of them die.
I bet the Banksters keep the death spreadsheet updated daily out of pure joy... even before they enter the money they looted from the Muppets.
and what will the Rothchild tax bracket be? I dont see it anywhere?
The Comex and wall street will soon be doing MF Global jobs every week,the Gold is drying up and Silver is non-Existant............Ha,Ha,Ha,Ha,Ha,
And all this time I thought million dollar bonus was sarcasm...
Sister Mary Ernest (real name), my fifth grade teacher, said reading and comprehension are two diferent things
Sister Margaret Agnes (6th grade teacher), wrote FUCK in big letters on the chalkboard one day and said it wasn't a "swear word". Taking the Lord's name in vain was swearing. FUCK is just "foul language" (which we still shouldn't use).
she's got a point, it does rhyme with duck
and what rhymes with bucket?
Nantucket?
You lost me.
Fowl language? No Duck Soup for you, Mick.
We need to blame the blogosphere, so we can find out what is in it.
And the comments.
These down arrows; is this just a fan, or have we been selected for special attention?
It's pretty evident all of the major financial entities read ZH. "Fringe blog" indeed.
We be famous. :-)
Sorry. All the major financial entities are incapable of reading. They use bots to scan for negative comments. Too many negative comments and then they send drones.
Of course they do. They can't get the scoop on CNBS.
This just in from WH...WH disagrees with ZH that the market will go down and ACA won't work ect...
It helps them figure out what's going on.
Those in the shadows don't like being called into the light.
As Bonaparte once said:
“Their eloquence should be opposed by a serious and logical argument; their strength lies in vagueness; they should be brought back to the reality of facts; practical arguments destroy them.”
Good luck with that. We have been trying to drag the world back into the light for years now and only find ourselves vilified and marginalized. Luckily, I'm good with that.
+100
They don't think of it as being in the shadows.
After all, they serve the Light-Bearer, the Son of the Morning.
They think of it more like they are the ranchers and we are the cattle.
And it seriously creeps them out when they realize that we are watching them.
Christine, there is still time.
If you follow Him, He will consume you. i will not.
Haven't you seen that all the smart ones before you have gone to their holes in the Earth? And that you are not invited?
Their time has ended. They will never emerge.
The Son of the Morning is the Son of Lies. His time ended twenty-five years ago.
We are not cattle. We are the future.
Join us.
Some people seem to confuse Lucifer with the Morning Star.
Orwellian double-speak.
Darkness is Light.
dont believe from low brow zhers anything about the imf until its offically denied
In case the IMF was wondering, the Japanese masterpiece, Zombie Ass: Toilet of the Dead is available in Netflix right now. I'm not kidding.
Never sacrifice the perverted anime and Japan horror we enjoy. America must stand with Japan at all costs!
It has to be the most ridiculous concept for a movie I have ever seen.LOL
It's not anime, it's a Fukushima documentary.
I know your dick is hard after seeing LaGarde.
Tyler should push this thread down the page.
This might be the moast attention Christine has gotten in a while.
Zero Hedge is wrong, tweeted an economic hitman with the IMF.
I'm frankly surprised the grammar was intact. Normally, thugz don't check that sh!t when rebuttalerin' from da hipz.
Nice kick in the bollocks for the Mummy and co, Tyler.
Since most 'top earners' in corporations get the bulk of their 'compensation' in the form of stock options taxed at a capital gains rate and not as earned income (walking around money), such an income tax would basically disportionately damage non-publicly held businesses and essentially have a negative effect a. improving the economy b. correcting obscene levels of income inequality.
That's why they'd love to see a value added tax instead. You and Warren Buffet would pay the same amount on the purchase of a car. Sounds fair to me.
Say no to the VAT. A sales tax YES. VAT becomes another hidden tax folded into everything we buy yet have no real idea of what taxes we pay. We need transparency if we are to ever hold the assholes to account. A sales tax on the final purchase is an in your face tax that everyone will see and feel...exactly as it should be and exactly the opposite of what those who seek to tax and control us would ever want.
Hmm..
IMF.. since like what.. late 1930’s?
Zero.. zilch.. nada.. squat end game for paper fiat - like forever..
Choose wisely.
calling henry george .....
(in case you're someone who has been disregarding my recurrent calls to the spirit of henry george- i truely believe that a properly implimented 'rentier' land tax would do as much for world prosperity as the discovery of free energy)
As a middle class professional, I am taxed at around 50%. With incessant yearly rising inflation and shrinking raises I am unsure how I am to maintain this. At 71%, it is game over for me. But that's the plan isn't it? FOAD IMF. You and your ilk created this mess, don't expect me to go down quietly.
Miffed;-)
The IMF is a tool of impoverishment. Of course they want game over for you, me, ours and all nations so long as they can continue to help a very few claim the deed to the planet.
I make 30 bucks an hour. My actual take home pay is 15.00 per hour, that a 50% percent tax on multiple levels. I am sure "they" are going to take more soon...
I assume that is your payroll tax and doesn't count your sales tax, all those hidden taxes in your phone bill, electric bill, water bill, cable bill, taxes added to the cost of gasoline, property taxes, tags for your vehicles, licenses etc. and that is not even counting the tax of inflation in the things you need over the past 5 years. Add those in and see what your actual tax rate is. Soon we will all be in the position that Polish serfs were in when the duty they owed their feudal lord was 6 days' work a week.
Similar boat here. Just with direct taxes on my payroll (me) I'll be at 35% effective tax rate (~42% nominal on the top bracket) this year. A 71% nominal rate would put my direct tax burden well over 50%.
I'm pretty much at the point where if I take a vow of lower-middle-class living standards, I can cease work. If 10% of my net worth disappearred overnight, or if taxes go cranked to where I am providing the government with more income than I am to myself, I'm done and the government can go choke on the six-figure loss of tax revenue.
seek: I've got your back brother. I have your .1 BTC waiting for you whenever you need it back to pay ass-raping taxes or get outta Dodge. Think of it as wallet-away-from-home. By the way, it took about 1.5 days for it to go through.
Cheers
Glad it made it. I think network problems on my end delayed the transfer, it's ordinarily MUCH quicker.
Feel free to keep the bitcoin, it's from my "education budget." If you feel you absolutely must return it, 1Ex95KYaf5J7BvUCf5NHecA3SnCBztKHY1 will get it to me.
dupe-licate
seek: Sent it back at 5:12pm MST. I could only send back .99 (fees I guess) and I still have a whopping 82 cents left over. My first time doing it and I'm not perfect (just ask my Mother).
Again, I appreciate how you educate people here. You are most certainly a rational voice amongst the irrational.
Cheers!
It made it. The fees are standard, no biggie.
Yes, you guys are next. Since they've already destroyed the working class how else are they going to fund themselves? You'll get used to poverty. During the Viking era, the Anglo Saxons were so frightened, that the Danes only had to show up in force at a walled town. They would inform the townspeople that they would reluctantly forego the battle, the rape, pillage, burning, taking of slaves and wholesale murder, but not the looting. The town would pool their resources and hope that everything they had was enough to pay them off and count themselves lucky to escape with their lives. Of course, the Danes never stayed bought. Once you've paid the Danegeld you'll never be rid of the Danes. I've read papers postulating that England paid for its own conquest. We're paying for ours now and everyone has to pay their fair share, which eventually will be everything you have, and you can count yourself lucky if you get to keep your life.
Quit being such a sissy about it. Its a new world where the good of the many (not you) is much more important than the good of the few..or the one (that's you). Get back to work!
Excellent summary in a microcosm, we're it not for active management to achieve collapse fatigue for the explicit reason that it increases the effectiveness of every aspect of the goals, every 'doomer' would have been more or less correct long ago.
The directed, funneled, managed setup is unmistakable, the wait infuriating, and when manipulations cost more than the actuaried ROI, then this phase will stop and the next begin.
It appears to me that it has already begun but the technique has changed from the national sized false flag event/reaction formula to a ever increasing rate of squeeze of every aspect of our lives. This for the explicit reason that the anesthetized, drug and distraction addled sheeple can be squeezed much further without provoking a reaction that might break the trance. Just hold still so I can steal more before you become conscious again.
It is indeed coming. Live, stack, love, wait, try to make prudent choices for yourselves in whatever situation you face.
Best wishes!
California's eastern and northern borders are unguarded, escape while you can!
Did you count your property taxes, fees, licences, sales tax, etc?
Actually no, that was State, Federal and Sales tax. We do calculate separately what you cited. I can't bring myself to divulge what the percentage is when those items are included. I truly have to fight going into a rage or become depressed.
Miffed;-)
Must've meant 70.09999999%
(Glad they're daft enough to reply to ZH..)
So instead of closing loopholes for corporations like GE to pay $0 in taxes and bring $ from offshore, they are going to increase the taxes for individuals. I am so tired of this corporate bullshit running our country.
The corporate bullshit running this country has little to do with taxation. Corporate taxes are paid by their customers (us). Corporations that operate offshore do not pay US taxes, so guess what...they have a huge advantage. The corporate corruption comes in to laws written and sponsored by them that give them advantage, taxation as well as about everything else, over their competitors. We have the highest corporate tax rates of the world, but not for all corporations, just those unable to buy favor. This is about corruption and the fact that a large centralized largely unaccountable government is the prime enabler.
Taxation policy is designed to destroy small companies that can't offshore their assets.
The difference between the commerce and bribery is corruption. Small business and regular people cannot buy protection from the State. We see it in tax law but also in the complete abrogation of law. We have seen major financial and other corporate entities relieved of any personal responsibility in criminal activities, yet they agree to pay "fines", not all that different from handing the arresting officer a hundred dollar bill to tear up the ticket. The problem is not even the corruption but the rationalization or justification for it that is really fucked. The Too Big To Fail concept is what threatens us all. It is a complete institutionalization of corruption.
Rather be wrong with ZeroHedge than right with the IMF.....
It is obvious that ZeroHedge struck a very sensitive nerve that can only be cured with a lot of quantitative easing novocane/procane.
Nice one Tylers.
Let it be known bitchez. Inthemix96 agrees 100% with ZH, and would like to, in all honesty, and with unreserved reverence, tell the fucking IMF to go and fuck yourselves with a ten foot barge pole.
If I ever meet one official in my life from the cunts of the IMF, or any affiliated organisation, I can give you one cast iron guarentee. I will serve time for what I will happily do to your bodies and heads. I will, as dog is my witness, murder you to death.
Count on it, nigh not just count you filthy cunts, 'Bank', on it.
Dont cross 96 is the message you hateful cunts.
And fair play to ZH, and all who sail under her.
Bitchez. :-)
"I will, as dog is my witness, murder you to death."
CLASSIC.... ur a hero in my book...
Lets give these cunts a suprise Kaiser my friend.
Lets give these cunts war.
Inthemix doesnt agree with the IMF, and the IMF doesnt agree with the Hedge.
We are legion my friend. Unstopable.
Think about it.
;-)
I am with you Mix!
Mani,
The time is almost upon us for man to be man my friend. We are all small cogs in a big machine that would love nothing better than to grind us down, we are better than that. What friend of others deserves, through his government to set about a man from another world, where ever it is on the say so of the fucking filthy peadophiles running our corrupt system??
Who says 96 is a foe of Iran? Who says 96 is foe of Syria? Not fucking 96 thats for sure, but the filth that 'GOVERNS' us.
These 'GOVERNERS' are no friend of mine, or represent me my friend, as they do for us all. A charade in a matrix is all these filthy bastards are, and as it stands now, as we type, its coming to end.
We are winning my good man, thank us all, each of us for these small victories that make massive change possible.
We are. Legion.
Take care my friend, we will win. Bank on it.
:-)
Hell Mix, I'm not sure I want us to "win". I'd settle for a draw and you know what I mean. A draw is the best conclusion we can come to because this motherfucking ship is foundering. When things get really shitty, right before the boat capsizes, they will let us become captain so that it looks like we were the ones who ruined everything. It has all been written before.
You are spot on Mix despite the fucking cunt who red arrowed you. That asshole has the balls of a termite.
My Best to you Sir Mix.:-)
locked and loaded my friends....
Real Money and Real lead dispensers....
I may sport a cunt inthemix but I'm with all of you boys nevertheless!
Miffed;-)
May we present to you, Miffed, this honorary pair of ZH golden balls.
I will wear them with pride and honor since a sex change on my part would not be received kindly by a certain party.
Miffed;-)
Wow, sex change parties --- there's a concept!
Wow, I'm once again inclined to interact with a turgid member of ZH! Damn, this is going to ruin my New Years Resolution before I even start the year. ;-)
Miffed;-)
don't want to spoil the party here, but please note that in intemix's British English use the word has practically lost the original meaning, and it's 100% pejorative. I was reading and thinking "you sport what? a hated husband?" - congrats for your new pair of golden externals, of course
back to the article: the IMF is imho right. it did not say 71%, it postulated that the maximum tax revenue "spot" for the US lies between 56% and 71%, instead of 45%
I remember the discussions when a very bright fellow in the US postulated that decreasing taxes always pushes tax revenues up, btw
Yes that word has always been a problem for me personally and I do realize it is bantered about by the British without the connotation of which I find so objectionable. I have decided it is best to lighten up personally rather than exist in a state of inward fuming. Being an obstreperous firebrand is more in keeping with my style. And, yes, I agree with your assessment on the IMF.
Miffed;-)
Beware, ye criminal parasites, the wielder of the Potato Peeler of Retributional Justice.
Verily it will smite the unjust 4th.
Maketh upon man, maketh upon all. Said tattie peeler of justice hath said desire to undo the wrongs of evilness and said returneth man to justice of equalness.
Its a fucking mattering thing my good man, a path laid before us all by men we dont know with intentions we have no idea. They took us down this path my friend, we never asked or wanted it.
They will, reap the worldwind. I didnt cause this, I never condoned it. Neither did you.
They did, and mark my prophetic words, they will wish they hadnt.
Some people do not forgive, some people do not forget, and some people hold vengence close to their hearts. Not me like, I is to busy twerking and such.
;-P
just because....
Everybody else is just green, have you seen the chart?It's a helluva start, it could be made into a monster
If we all pull together as a team.
And did we tell you the name of the game, boy?
We call it Riding the Gravy Train.
Fitting.
Hats off to (Roy) Harper
What is impressive about this is a generic ZH article got their attention, but regular readers here know 85% of the value of this blog is the comment threads.
You know . . . they do sound scared.
You've made it Tylers!
IMF responding to Zero Hedge!
The kleptocrat cuntsacks are panicking
Vive la Anarcho-Capitalist Revolution
In todays world, "Don't Be Evil" means "Be Evil", and, "I didn't have sex with that woman" means "I had sex with that woman", and last but not least "ZH is wrong" means "Gather up yours goods and head for the hills as fast as possible cuz ZH is right"
I'd rather fight
than be right
The IMF should get an account
and come to fight club ..
71%? It makes 25% on profits from the sale of "collectibles" seem downright reasonable.
28%, I'm afraid.
Only if one is in the higher tax brackets to begin with.
Where does the IMF get the nerve/cahones to comment on ANY sovereign/national policy? Who elected the IMF? What is their legal authority?
Answers: nobody & none.
All the white papers in the world don't change the fact that the IMF is an essentially powerless organization full of do-nothing know-nothing bureaucrats.
.
...who are exempt from income taxes.
Just like a president is just a "figurehead". Another powerless entity successfully propelling it ideologue and agenda upon us. We are experiencing the tyranny of democracy but sometimes it simply moves too slowly for those running things.
What's interesting is the claim of low tax rates in the US. Yes, there is the Federal tax rate. Then most states have a state income tax, then there is sales tax, gasoline taxes, liquor and cigarette taxes, property taxes, vehicle registration fees and so on.
The actual tax rate is MUCH higher than advertised already, and a lot of it is highly regressive.
I also notice the largest corporations seem to pay little. What is the tax rate for Goldman Sachs? Or the Fed, for that matter - it is a private corporation, after all.
One consistent theme is large business is generally exempt from regulaion, while they feel they cannot regulate people enough.
I've never thought about that before. Like you said, the Fed is a private corporation. If they buy bonds, then they own bonds. And bonds pay interest. So shouldn't they have to report that interest income? And then shouldn't those tax records be public?
Congratulations to ZH and Tyler. I don't always agree but I have an enormous amount of respect for ZH.
The more the IMF and CNBCrap disagrees and responds the more you know how right you are.
"I don't always agree" Same here thats why it's fight club.
Shhhhhhhh...You broke the first rule. Never talk about...
Is the IMF the real force behind Obamacare? IMF's goal as is Obamacare is to take from the rich but actually more from the Middle class and give to the leaches that are so willing to continue to want more for not doing a god damn thing to earn it.
YES
I wasn't planning on moving out the country but Obamacare has me thinking now about atleast 6 months a year. I almost signed up with Simon the other day for info on Chile.
What countries have you found where a US citizen can live with out too much trouble with Visas/Residency permits? Is Chile one of them?
So Simon says.
gonzo lira has info for free.
So we have to trust either the opinion of a respected financial blog or a bloated globalist institution hellbent on global financial slavery? Not hard to choose really, think I'll stick with the Tylers on this one. Now if it was down to the IMF or CNN, I might have to flip a coin or call the psychic friends hotline to decide that one.
Atlanta vs DC - that is a rock and a hard place
I love it when they simply have to print their own words to make them look like asses. Go fightclub!
The main point of all this is - if the IMF feels compelled to call out Zerohedge, they're probably scared that ZH is right. (Or know that ZH is correct, but feel like they have to 'spin' it.)
Nice one, ZH. You've just confirmed that they're afraid of a financial blog discussing their plans. Otherwise, they would've ignored it completely. Isn't that the usual operating procedure of hallowed elites? If they think you're just blowing smoke, they don't care.
They obviously DO care in this case, so you're right against the jugular of this one.
precisely
All of these idiot politicians and central bankers know that confiscation is part of the end game and they might be dumb enough to think that just because us regular guys don't discuss Cyrpus on a daily basis that we'll just accept "taking one for the team". Look at what the people did in Iceland!
given that much of the first world has had an internet journalist holed up in an embassy in London for over a year, I'd say the subject scares them.
Time for Banzi to do more Christine Lagarde poses.
ZH hit a nerve.
Bretton Woods is no longer in effect. The IMF and World Bank should not exist.
How stupid can you be to serve up such an obvious pitch to be hit out of the park? Or, how secure in your tyranny and control, to laugh at the masses and marvel in their ignorance and hopelessness?
Is not that the biggest thrill of a confidence 'man'? To insult the mark to their face in complete arrogance while the mark remains ignorant?
Happy Happy, Joy Joy
The IMF cares what Zerohedge is saying now? Wow!
zerohedgers trying to decide if they care what the IMF says rofl
The IMF must have a little stinky spot in their shorts having realized that people are being educated about their game.
Yep, they are having a brown out!
Brown - You're through!
We know they have no power...yet mysteriously their agenda continues to advance. How do that be?
Lagarde, why not shove a few anal beads up your ass.
The IMF is nothing but a glorified country club membership acquiring fees from participating victims. You’re the epitome of a cash burn establishment which borrows money to receive a interest bearing commission. The countries liquid assets are tied into scheduled payments. After the dotted line is signed, you explain the bit on payment also requires new branding of rights and indigenous rights of the people. If either are broken, the assets are garnished.
Go fuck yourself up a stick! You know that the business model is being exposed. If you think the kitchen is hot, just wait a couple of months.
Yeah Lagarde! And while you are at it pay some taxes yourself you skanky bitch!
IMF - i mean fucking really, it's just another club for the well to do that don't fucking have anything to do to try to figure out how to make more money for free off the back of the people. seriously - someone here - or one of the IMF trolls - state ONE positive thing that the IMF has ever fucking done. EVER. at least the noble committee can point at big bad boogie down bama's selfie and claim that they enabled stupidity to a massive degree. (no, not sarcasm). noble prize team won. they made fun of all of us. IMF - come on. let's get DOWN! lest we forget = Dominique Strauss-Kahn . a great guy. so - i guess i proved myself wrong. i'm so glad we are all paying for Dominique Strauss-Kahn and his hotel rooms. and - i even think he was set up by sarkozy - but who cares?? i still helped to fund the flight in and out (oops!) the room, the meals, the calls and the inbetweens.
lagarde and dsk have clearly helped humanity? ? ..... ? .. ??
Yes, they are fucking us...and hard, but they are doing it for our own good. What would the world be like without these obviously enlightened people to lead us from the darkness of economic ignorance where we would believe that wealth is earned rather than printed. I mean really...
Made me laugh. Once again it appears that the US citizen 'american' world order is characterized by the chase of imbalances, places where people can not resists elitistic degenerescent practices, DSK being the cockerel eyed expression of that tendency on an individual level.
But hey, when Grass Mud Horse brings Chrysanthemum Silkworms, Hidden Fiery Crab would have been better served by Intelligent Fragrant Chicken.
When they do themselfs good, they benefit humanity. A useful standard as it pours opportunities to stick a nose in domestic issues of foreign nations on ground of humanity and stuff. Doesn't take rorshart test passings to determinate it is big on progation, ready to highjack humanity to cover selfish purposes, the other acts and phenomenums.
Look, I agree that the IMF can suck it. But I still say LaGarde is hot, hot, hot.
I seriously bet she is spectacular in bed.
Damn man, my dick just shriveled up. Thanks a lot.
I'm serious. Have you ever seen her wearing the really expensive silk stockings? Ooooh man.
Zero Hedge living rent free in the head of the IMF.
The nameless, faceless, power hungry thieves of the IMF intend to tax much more than 71%.
Before these bureaucrats are finished, expect .90 cents on every dollar to disappear from any account you can conceive of.
Entire global confiscation.
That last $0.10/$ is just to buy a little time for the getaway so you'll think nothing has changed 'cept those little electronic numbers in your bank account.
It isn't like the paper was really any more valuable than the electronic digits, now was it?
Hey imf, stop with the hissy fit and keep floating. You will reach the Mediterranean eventually.
Well done a response from them.