dxy broke the buck in 09 and passage of law entitling payment
of less than a buck for a buck may have passed. lost sight of current law.
I know they were trying to enable it. that could happen overnight.
had it happen to me in Indonesia.
“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."
think it won't happen in America?
I haven't voted in 40years - I don't participate in fraud
voting - a placebo for those who do nothing and want to feel better about themselves.
gets em off the hook intellectually, as if it represented their total responsibility to the
themselves and the country.
"well, I voted, the system is corrupt. what else could/can I do?"
those unfortunate enough to fall somewhere between the upper end of poverty
and the lower end of the .01%, will have their assets taxed insanely and at
some point the govt. a.k.a the FED will just TAKE what it deems an acceptable
portion of cash assets for the betterment of "our country" as a whole.
this has been done in Cyprus already and trying to do it in Ukraine now.
America obviously hasn't deteriorated to that point YET......... when it does
the FED(govt.) will do what it wants.
it's what I mean when I refer to those who think they'll have immunity from
those less fortunate. your participation and silence regarding criminal behavior
WON'T guarantee your immunity. your silence is similar to watching a man
execute another and then not reporting it. you become guilty by virtue of
association. you knew/know and they'll use it against you when it suits their
needs. again, for the betterment of the larger group.
wow, betterment is actually a word - bwhaaaaaaaaaaaa
where's Darwin, he could polish my abstract effort. you understand the gist.
man............they don't want to see what were cash reserves going up in smoke
they didn't come this far to drop it now.
capital crimes(no pun intended) the world has never seen, rest assured they won't go
willingly. the population doesn't have the gumption to call them on anything. majority
of people say "there's nothing I can do about "it", so I just stop paying attention to "it"
long ago". many have repeated that - cognitive dissonance and willful ignorance rule
population has abdicated completely willingly. majority really have nothing to "lose"
so they just don't care. those w/ something under the impression they get away w/
what little they managed to scrape together. they won't but they think they will and
that's all that matters in their minds.
lot of "their" in there ...........
do we get 10% or more? where's your down side target
and a time frame is always helpful as well. I realize
you're working w/ a crystal ball.
I just don't see TPTB really letting this thing go.
10% in a grueling sideways premium chewing slope.................
w/out external event(s) which many are gunning for
name a single country in the history of the
IMF where citizen per capita income grew
after they became involved. same w/ WB.
when you've come this far on the back of the crimes
these people have committed? I don't think they'll
voluntarily do anything that's right w/out DIRECT fear of DEATH!!
fully expect crimes to grow and be spectacular, the likes of which the world has never seen.
jammie, Lloyd and the boys haven't even revved the beast yet, THEY WILL!!
it's all they know how to do.
what would make these people suddenly develop ethics or honesty?
what I do KNOW for certainty is, I DON'T!!
that covers my entire knowledge base. gotten some ferocious
beatings cause I "knew" the answer.
no, I don't KNOW a damn thing!!
nice photography regardless
definitely qualified as "professionals".
ralph nader 80 now, still kicking, he set a fire to their ..........
motor mounts just sheared off, it was the stop that killed em!!
w/out him we wouldn't have seat belts, or some other stuff
glad I drive trucks, I think?
buddy got a new #$%$ car, they don't have keys anymore!!! or motors for that matter
wait till we don't even have to drive em, gonna be glorious I tell you, GLORIOUS!!