Robbing Peter | Zero Hedge

Posted by straightlinelogic 10 years, 6 months ago to Government
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Governments are flat broke, and they are going to come after your money one way or another.
SOURCE URL: http://www.zerohedge.com/news/2014-07-15/robbing-peter


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  • Posted by CircuitGuy 10 years, 6 months ago
    1. I assume there's about a 2% tax on all monies parked in the bank due to a negative real rate of interest. That's not god-awful, but I don't want to have a big chunk of my net worth there.
    2. There's nothing sinister about the fact that we'll have to spend less or tax more. We can't keep borrowing at this rate indefinitely. It's a numerical fact that at some point we'll have to decide if we want to cut services, increase taxes, or both. I wish they'd phase it in slowly before it becomes a crisis.
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  • Posted by Robbie53024 10 years, 6 months ago
    The fifth and sixth recommendations may be the most important. There is a HUGE amount of Baby Boomer IRA/401k money. There have already been very quiet congressional hearings about how to tap into that money - one mentioned here is to require that money to be invested in gov't securities instead of stocks (which would be a windfall for the gov't and lock in those savings at low interest rates even as inflation soars), another would be outright theft by "nationalizing" that money as a "social justice" measure under the theory that the people that received a tax benefit to defer those savings clearly were doing so at the expense of their neighbors who were too "poor" (or foolish, many of them in my opinion) to save themselves.

    Investing in real estate is a tricky issue, since the local (and in some places national) gov'ts can tax that out from under you.

    Precious metals is a good choice, but always in small quantities, from multiple vendors, in small physical denominations, and in cash.
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  • Posted by $ johnrobert2 10 years, 6 months ago
    The caveats on precious metals and real estate have some flaws.
    Imprimus- Using precious metals as specie in a paperless economy singles you out as a 'person of interest' and opens the possibility of a 'visit' from the uber government to relieve you of the responsibility of maintaining security for it.
    Secundus- Real estate is no hedge as the uber government can claim eminent domain in the interest of the national government and relieve you of the necessity of the legal entanglements of preserving it for future familial generations. Of course, they may 'ask' you to remain for 'maintenance' purposes but, more than likely, you will 'asked' to relocate to an area more suited to your new circumstances. Can anyone say "Anthem"?
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  • Posted by freedomforall 10 years, 6 months ago
    Isn't this just another method for stealing by looters?
    Shouldn't we be just as outraged at income tax withholding, sales taxes, ad valorem taxes on property?
    It is all theft. People have been compelled to pay under threat of confiscation for centuries. Now there is no threat, just confiscation from the source.
    Confiscation by inflation of the currency via credit creation to benefit only the banking cartel members is worse because it is hidden.
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