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Thread: Germany’s Central Bank Proposes "Wealth Tax" On Depositors

  1. #1

    Germany’s Central Bank Proposes "Wealth Tax" On Depositors

    Today’s AM fix was USD 1,253.50, EUR 919.12 and GBP 757.04 per ounce.
    Yesterday’s AM fix was USD 1,270.00, EUR 927.82 and GBP 767.14 per ounce.
    Gold fell $13.30 or 1.05% on yesterday to $1,255.10/oz. Silver slipped $0.28 or 1.41% to $19.63/oz.
    Gold is marginally lower today in dollars but higher in yen and emerging market currencies. The fall in stock markets and in currency values in many emerging markets should support gold and is leading to an increase in demand for physical gold.


    Turkey, South Africa, Ukraine, Venezuela and especially Argentina have all seen sharp falls in their currency. Those with an allocation to gold have again protected their investments and savings.
    Eurozone governments vulnerable to insolvency such as France, Spain, Italy, Portugal, Greece and Ireland should impose a “wealth tax” on their citizens, Germany’s Bundesbank proposed yesterday.
    The German central bank raised the idea of an emergency “capital levy” in its monthly report.
    The Bundesbank said that the levy would have to be a one-off “imposed in conditions of extraordinary national crisis”, in order to limit negative consequences for investment, and potential capital outflows.
    It acknowledged that a nation in crisis would have difficulty making a convincing case to depositors and investors that any such levy would be a one-time measure.
    We have argued consistently for the last 10 years that investment diversification is vitally important in order to protect and grow wealth. The very real likelihood of bail-ins means that savings diversification has to be considered.
    Find out why Singapore is now one of the safest places in the world to store gold in our latest gold guide - The Essential Guide To Storing Gold In Singapore
    Germany’s Central Bank Proposes "Wealth Tax" On Depositors | Zero Hedge

    Wow, they want to tax on deposit!

    I read somewhere in a French blog, that the EU central bank wasn't allow to buy gold to support the Euro, now they changed the law quietly to authorize the EU central bank to buy gold and silver. How funny to keep hearing the politicians over there to support their fanaticism about the Euro. The Euro wasn't created in an economic goal, but in a political goal.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  2. #2
    If the EU collapses, as some are predicting, so does the Euro. EU countries that did not join the Euro, such as the UK and Sweden, may be better off if a collapse happens.

    More than one Democrat has proposed a wealth tax for the USA, as well. The same types of Marxist Democrats want to confiscate and nationalize all retirement accounts because "401K programs are not fair to the poor." Hey fool. that is my money in my 401K account. It wasn't given to me and you have no right to give it to someone who cannot hold a job. I don't think these brain farts will gain any traction here. That would be the spark that triggers another revolution.
    "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." -- Benjamin Franklin


  3. #3
    Quote Originally Posted by TopDogger View Post
    If the EU collapses, as some are predicting, so does the Euro. EU countries that did not join the Euro, such as the UK and Sweden, may be better off if a collapse happens.

    More than one Democrat has proposed a wealth tax for the USA, as well. The same types of Marxist Democrats want to confiscate and nationalize all retirement accounts because "401K programs are not fair to the poor." Hey fool. that is my money in my 401K account. It wasn't given to me and you have no right to give it to someone who cannot hold a job. I don't think these brain farts will gain any traction here. That would be the spark that triggers another revolution.
    You don't have only the Marxism, you have also the Leninism, the Trotskyism and whatever Communism variations like Marxian socialism.

    People are going to buy precious metal or other safe heaven investments and/or for retirement and leave the banking system based on fiat currency. You can read articles about it around the world, it has already begun.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


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