Scottish Independence - Hard Talk over the pound

[Cambon]

 

The Chinese also know that according to official records of the distribution of gold across the world, there is about three times as much in various vaults than has ever been mined.

Nobody knows how much has ever been mined.

They have a pretty good idea based on the limited amounts above ground prior to mass mining, and then the fact that everything since then (the vast majority) which is well documented.

[Lxxx]

Wise words Cambon, especially when you take into account the IMF October publication called 'Taxing Times', page 49 to be exact and under the heading A One Off Capital Levy, which states;

 

'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 behaviour (and may be seen by some as fair).'

 

Sounds like there's another Cyprus in the offing, only a grander scale.

[Chinahand]

 

Taxing Times IMF Fiscal Monitor October 2013

[wrighty]

I think Osbourne's stance will backfire on the 'No' campaign. He may well be right, that the newly independent Scotland cannot enter a currency union, and I'm sure all the economic arguments will back him up. However, it is a complex business and there will be a debate that the average voter just cannot understand or follow. On this basis, I suspect people will just vote with their heart, and this unified Westminster economic argument may well lead to everyday Scots voters voting 'Yes' just to 'stick it to the man'.

[Cambon]

Wise words Cambon, especially when you take into account the IMF October publication called 'Taxing Times', page 49 to be exact and under the heading A One Off Capital Levy, which states;

 

'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 behaviour (and may be seen by some as fair).'

 

Sounds like there's another Cyprus in the offing, only a grander scale.

Correct. FATCA style reporting (uk son of FATCA) serves several purposes, one of which is to collect peoples true savings and net worths together. So those with considerable savings legitimately within the uk who have split it all between several banks can be assessed and "skimmed" as one. Unlike Cyprus where only accounts over 100000 euros were hit.

 

Add to that the EU current stance on people's hard earned pension savings, and we are really looking at a bleak outcome.

 

I would love to be more positive about the reality of the future for the uk, but I cannot. However, bloody go for it Scotland. You have absolutely nothing to lose, and everything to gain.

[pongo]

Wise words Cambon, especially when you take into account the IMF October publication called 'Taxing Times', page 49 to be exact and under the heading A One Off Capital Levy, which states;

This seems to have been seized on by the sort of people who see everything as an evil plot (and those selling gold coins and seeds via ads on conspiracy forums). But all that they actually seem to be suggesting is a way in which countries can sort out their own issues using their own national wealth before looking for international help. And why should Germany pay for Greece ultimately ?

 

The Bundesbank stance as reported here at Bloomberg seems perfectly sensible.

 

The principle of wealth taxes is already well established here. The rates are effectively an annual wealth tax.

[Cambon]

The Bundesbank stance as reported here at Bloomberg seems perfectly sensible.The principle of wealth taxes is already well established here. The rates are effectively an annual wealth tax.

What that suggests is not a wealth tax. It is a one of (for now) confiscation of "excessive" wealth, by legalised theft.

[Lxxx]

 

 

 

 

 

 

 

Wise words Cambon, especially when you take into account the IMF October publication called 'Taxing Times', page 49 to be exact and under the heading A One Off Capital Levy, which states;

This seems to have been seized on by the sort of people who see everything as an evil plot (and those selling gold coins and seeds via ads on conspiracy forums). But all that they actually seem to be suggesting is a way in which countries can sort out their own issues using their own national wealth before looking for international help. And why should Germany pay for Greece ultimately ?

 

The Bundesbank stance as reported here at Bloomberg seems perfectly sensible.

 

The principle of wealth taxes is already well established here. The rates are effectively an annual wealth tax.

WTF are you on about with your evil plots and seeds? It's there in black and white, not my words. They have left the door ajar for a confiscation of private wealth to replenish public coffers.

Reuters reported it just the other day;

 

http://www.zerohedge.com/news/2014-02-12/europe-considers-wholesale-savings-confiscation-enforced-redistribution

 

It 's prudent to be aware that these options are on the table. Most people don't even know what happened in Cyprus and the ones that do assume it's something random that would never be repeated here. Maybe it won't, but the fact it has been discussed at the highest levels of international finance warrants a raised eyebrow at least.

[Cambon]

LXXX - it's alright though "Splash" and "Take Me Out" are on later to keep people in the dark!

[Lxxx]

LXXX - it's alright though "Splash" and "Take Me Out" are on later to keep people in the dark!

More people know who's in the 'Splash' final than know that "The European Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing".

 

'Mobilise' being the less harsh Orwellian use of the word 'Confiscate.'

[hillshepherd]

 

LXXX - it's alright though "Splash" and "Take Me Out" are on later to keep people in the dark!

More people know who's in the 'Splash' final than know that "The European Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing".

 

'Mobilise' being the less harsh Orwellian use of the word 'Confiscate.'

buy gold and let them try to find it.

[Lxxx]

 

 

 

 

LXXX - it's alright though "Splash" and "Take Me Out" are on later to keep people in the dark!

More people know who's in the 'Splash' final than know that "The European Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing".

 

'Mobilise' being the less harsh Orwellian use of the word 'Confiscate.'

buy gold and let them try to find it.

Buy shares in film companies instead. Much more profitable option. Apparently.

[pongo]

'Mobilise' being the less harsh Orwellian use of the word 'Confiscate.'

Again, this is a misrepresentation. This article counters some of the spin which conspiracy such as ZeroHedge and Infowars have been propagating:

 

http://www.ibtimes.co.uk/eu-contemplates-consumer-savings-account-fund-long-term-investment-1436225

[Lxxx]

.

[Lxxx]

 

 

 

'Mobilise' being the less harsh Orwellian use of the word 'Confiscate.'

Again, this is a misrepresentation. This article counters some of the spin which conspiracy such as ZeroHedge and Infowars have been propagating:

 

http://www.ibtimes.co.uk/eu-contemplates-consumer-savings-account-fund-long-term-investment-1436225

I can't vouch for bullshit sites like Infowars however Zerohedge offers the same quotes as your link and merely it's interpretation of them.

 

Whichever way you look at a 'one-off' levy on personal bank accounts it's not voluntary and it's not something a democratic society would happily advocate. I presume you'd happily give away a % of your life savings, which you have already paid tax on, to help the IoM government out of it's self inflicted financial mess as well then would you? Do you think if Bell offered this explanation to the public after a night-time 'reallocation of wealth' while the public slept, a la Cyprus, he'd get a favourable reaction?