PART 2 of Comfortable and secure? Wake up to the what's happening

[erebus]

How the government could/would seize your wealth

The main trigger.

 

As Interest rates rise what MIGHT happen?

 

“A nation trying to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle”. Winston Churchill

 

 

As interests rates rise, (and as they are kept artificially low, its just a matter of time, and any rise) the crisis deepens, Government panic will take hold. In a desperate attempt to pay off the debts and try to regain control, politicians will cast around for any sources of money available, and use almost any means to seize it.

 

Invariably, that means they’ll turn to their primary source of income: you.

 

Its obvious they will confiscated people’s savings. In Greece right now, benefits have been cut to the bone, salaries and pensions have been slashed up to 40% and the retirement age has been hiked to generate more income from the population – the very victims of the crisis.

 

If you are someone who has worked hard, been responsible, considered the future, thought about your family, planned for your old age, and built up savings and some wealth – you are the prime target.

 

• Your investments restricted

• A dividend super-tax on pension and dividend income

•

• Your pension, downgraded: All private pensions will be nationalised “in the national interest”, and the government will take control of all pension provision. In Europe, right now, in Italy, Spain and Greece, wealth restrictions are already being implemented..

These measures have already been discussed amongst Eurozone finance chiefs. Limiting the size of withdrawals from cash machines, border checks, the suspensions of free travel between countries… there are draft plans to initiate these extreme measures under desperate circumstances.

[andyofborg]

you're a happy bunny aren't you

 

not chems brother are you?

[*_ash_*]

You constantly go on erebus, but what is your solution?

 

Revolutionists are ok, but not when they just spout misery - suggest something that you think would work!

 

(waits for tax the bankers bonuses )

[I1L2T3]

It's the unfortunate truth. They will be coming for your dosh when the whole thing crashes again, maybe even before.

 

There are two bubbles primed and waiting to pop any time:

1. Gilts

2. Tech

 

Crazy George Osborne is trying to reinflate another one at the behest of the banks: Property. And he's doing it using low interest rates to encourage idiots to take on debt.

 

The whole thing is going to implode again. The problems never went away. The banks just found ways of creating new bubbles. As gilts and tech hit the peak of their upward curves we see nascent (engineered) bubble formation. Property is being used again to provide a vehicle for funds in other bubbles to deleverage to.

 

It'll end in tears again and as the OP says you will be providing the funds for the bail-in

[ronthenekred]

you're a happy bunny aren't you

 

not chems brother are you?

 

You constantly go on erebus, but what is your solution?

 

Revolutionists are ok, but not when they just spout misery - suggest something that you think would work!

 

(waits for tax the bankers bonuses )

 

Let's for a moment say it's true as I1L2T3 suggests. "What is your solution" I hear you cry..well part of the solution is informing, gotta start somewhere huh? If you don't believe it it isn't "misery" it's just *****cks and you go onto the next mundanely repetitive thread (probably Muslim, scrounger or some other such *****cks) and simply ignore.

 

But, as you mention misery, that would be an indication you agree but don't want to hear what you're reading in your head..therefore burying what you know and not informing? (which is actually NOT doing something) which in itself is equally miserable.

[SevenRivers]

I don't see the problem. This is not the governments debt, this is our debt. If you borrow money, you have to pay the debt. The nation has binged on credit, we WILL all have to pay for it, and so will our children, grandchildren and great grandchildren.

[lily may]

I don't see the problem. This is not the governments debt, this is our debt. If you borrow money, you have to pay the debt. The nation has binged on credit, we WILL all have to pay for it, and so will our children, grandchildren and great grandchildren.

 

 

But not everyone has binged on credit but have to suffer for the foolishness and greed of others:mad:

[I1L2T3]

I don't see the problem. This is not the governments debt, this is our debt. If you borrow money, you have to pay the debt. The nation has binged on credit, we WILL all have to pay for it, and so will our children, grandchildren and great grandchildren.

 

There are three pillars of debt in the current crisis:

1. Corporate

2. Personal

3. Government

 

You are right that personal debt isn't let go of easily. We have to pay our mortgages, other debts and are expected to take personal responsibility for doing this. We should all be fine with that.

 

But imagine if one day you just thought you couldn't be bothered and the nice man at the bank said: no worries we'll just get other people to pay your debts. You'd be happy right but there would be a lot of enraged people out there.

 

That is kind of the scenario that is looming with corporate debt, specifically banking debt. There is only so much QE and bailing-out that can be done. QE is bad - it increases the money supply, reducing the value of our currency and stoking inflation. Too much of it and long-term problems can become locked in.

 

So, what can they do next to avoid printing the economy into oblivion, Weimar-style? The answer is stunningly obvious - they start to requisition the wealth of individuals as a prop for the banks, and for the governments themselves:

1. Your savings via confiscation

2. Your savings interest via punitive tax

3. Your personal pension via requisition

4. Requisition of vacant property

5. A tax on assets if you have positive net wealth, e.g equity in your home

6. Confiscation of precious metals

Etc...

 

Of course you may be able to avoid all this if you are rich and can structure your personal finances in time so they are out of reach, e.g. offshore.

 

But if you are the little man with modest positive net wealth make no mistake you are a prime target. The big wigs you spend your time on here fawning over and protecting are waiting to screw you over just like the rest of us.

[Vague_Boy]

The nation has binged on credit, we WILL all have to pay for it, and so will our children, grandchildren and great grandchildren.

 

Or the currency could collapse.

 

See my sig.

 

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[I1L2T3]

But not everyone has binged on credit but have to suffer for the foolishness and greed of others:mad:

 

That doesn't matter. If you have been prudent and saved money and built up assets, then very soon you are going to be the bogey man almost like an enemy of the state.

 

Don't believe it? Then read about what the IMF are cooking up right now:

 

http://www.forbes.com/sites/billfrezza/2013/10/15/the-international-monetary-fund-lays-the-groundwork-for-global-wealth-confiscation/

 

---------- Post added 05-11-2013 at 08:55 ----------

 

Or the currency could collapse.

 

See my sig.

 

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Very important point Vague Boy. The failure of the current system is locked in. QE and wealth confiscation are simply signs of the system in its death throes