IMF Pushes Plan to Plunder Global Wealth
By Alex Newman | The New American
A controversial report released this month by the International Monetary Fund outlines schemes to have big-spending governments with out-of-control debts plunder humanitys wealth using a mix of much higher taxes and outright confiscation. The goal: Prop up Big Government.
Because people and their assets are generally mobile, the radical IMF document, dubbed Taxing Times, also proposes measures to prevent them from escaping before they can be fleeced. Of course, the real problems debt-based fiat currency, lawless bank bailouts, and a cartel-run monetary system are virtually ignored.
Pointing to absurd and rising levels of government debt, as well as increasing income inequality, the IMF document suggests there are few remaining options for desperate policymakers to explore. Two that are mentioned include repudiating public debt in other words, defaulting on government bonds or inflating it away by having privately owned central banks conjure even more gargantuan amounts of fiat currency into existence at interest. Both of those plots, of course, would still represent a massive transfer of wealth.
However, even though it hides behind the passive voice, the IMF preference for dealing with the debt problems appears to be simply confiscating the wealth more directly. 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 report claims. 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).
Read the full article at: thenewamerican.com
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