Your Private Wealth Is Threatened By Government Revenue Needs & Treasury Debt
Ron Holland
There is nothing very complicated or prophetic about forecasting how Washington plans to steal much of the remaining private wealth of most American citizens over the next decade or so. This is the norm in history and politics throughout world history and this has always been the major function of governments. While the Anglo-American establishment has whitewashed this part of history, politics and information over the last 150 years, today with the internet, the truth of our history is apparent to anyone willing to do the research.
Just as the citizens of America and Great Britain have in the past financially benefited from living under the Anglo-American Axis in many ways, today in these twilight latter-days of the empire so we will suffer under the wealth confiscation and likely retribution from the rest of the world due to the accident of our birthplace and citizenship.
As the American national debt grows larger, here are 15-plus probable attacks on your wealth over the coming ten years.
Your assets, benefits and future prosperity will be forfiet to Washington's elites as they try to buy time to right a sinking ship - and to no avail. The impact on our wealth and future prosperity will likely dwarf what has happened before in Argentina, during the Russian collapse and in Germany with the post First World War Weimer republic.
This essay will discuss the threats and possible new taxes, penalties and controls designed to transfer wealth from the private sector to the federal government.
Ron Holland
There is nothing very complicated or prophetic about forecasting how Washington plans to steal much of the remaining private wealth of most American citizens over the next decade or so. This is the norm in history and politics throughout world history and this has always been the major function of governments. While the Anglo-American establishment has whitewashed this part of history, politics and information over the last 150 years, today with the internet, the truth of our history is apparent to anyone willing to do the research.
Just as the citizens of America and Great Britain have in the past financially benefited from living under the Anglo-American Axis in many ways, today in these twilight latter-days of the empire so we will suffer under the wealth confiscation and likely retribution from the rest of the world due to the accident of our birthplace and citizenship.
As the American national debt grows larger, here are 15-plus probable attacks on your wealth over the coming ten years.
Your assets, benefits and future prosperity will be forfiet to Washington's elites as they try to buy time to right a sinking ship - and to no avail. The impact on our wealth and future prosperity will likely dwarf what has happened before in Argentina, during the Russian collapse and in Germany with the post First World War Weimer republic.
This essay will discuss the threats and possible new taxes, penalties and controls designed to transfer wealth from the private sector to the federal government.
Social Security Theft - As we see today in France, Social Security retirement ages will be further extended into the future. Wealthy Americans will be "means tested" and entirely forfeit their benefits and Washington will eventually end cost-of-living adjustments for all but the poorest Social Security recipients.
Manipulate Cost of Living Adjustments & Statistics To Steal Your Wealth - Even those receiving existing benefits will find their cost-of-living adjustments dramatically reduced over time with false inflation statistics just as we see today.
The End of Capital Gains - The severe depth of the recession has bought US investors a couple of years extension of capital gains but this will not be a permanent benefit regardless of the party in power. First favorable capital gains treatment will likely be ended for all privately owned investments except for US domestic stock and bond investments. Foreign stocks and bonds will be taxed at regular income tax levels while domestic securities other than (non-productive assets) including mining and natural resource companies will still be provided favorable capital gains treatment. If they are able to manipulate the stock market to new highs then expect an eventual end to capital gains for US equities.
The Probable Imposition of a Non-Productive Asset Gain Tax - Americans with highly appreciated precious metals investments (including numismatics and collectibles) will find a substantial amount of their gains charged with an emergency non-productive asset gain tax. Not only will you lose capital gains treatment but expect an additional high penalty tax on gains as the last thing the establishment wants is hard money investors benefiting while the rest of population find their investments collapsing in value.
This Tax Will Likely Be Extended to Mining and Natural Resource Stocks - Another reason to take your profits sooner rather than later in a crisis situation where the public with conventional investments will clamor for this type of retroactive tax.
A Two-Tier Gold Price Structure - At the very least there may well be a government enforced set or internal price for precious metals sales that operates outside the free-market pricing outside the jurisdiction of the United States. This could be handled by the non-productive asset tax mentioned about or used during a time of government gold confiscation to pay lower prices to American investors than the price outside of America. This is what happened during Roosevelt's earlier gold confiscation and don't expect Congress to help you.
The Risk of Private Gold Confiscation Will Continue To Increase - When the dollar and Treasury market crashes, Washington will enact legislation or use Presidential Executive Orders against gold investors to curtail your profits, add a confiscatory non-productive asset tax or confiscate your gold with some type of fiat currency exchange. In any case, they plan to end up with your gold as this will be the basis of a fake gold standard which may be used as the pretense to confiscate your gold. This will take place during the coming bond and dollar crisis by Presidential Executive Order. (Next month's letter will have a discussion on Presidential Executive Orders past and future.)
The Fed & Washington Might Manufacture A Fake Gold Standard - Free-market public and private currency competition should replace the failed fiat currencies in use around the world today, But Washington will not give up their monopoly on currency creation without a fight and fraud against the American people and we can expect in the latter stages of a dollar crash some type of complicated, fake gold standard or backing as a final fallback position. .Just plan on this happening and it may well be the excuse used for outright gold confiscation. Washington Will Confiscate Large Private Retirement Fund Balances - Hungry, Bulgaria and Poland are already seizing private retirement funds to meet budget shortfalls. This will take place in the United States. Read the current report on the European pension seizures later in the newsletter under "What You Might Have Missed in the Press".
The long-term confiscation and control idea is to eventually force all retirement benefits under the new automatic/mandatory IRA program where everything will be combined with and managed like your Social Security benefits. Wealthy and productive Americans will find their retirement benefits used to support the trillions in underfunded union, state and local government employee plans.
The long-term confiscation and control idea is to eventually force all retirement benefits under the new automatic/mandatory IRA program where everything will be combined with and managed like your Social Security benefits. Wealthy and productive Americans will find their retirement benefits used to support the trillions in underfunded union, state and local government employee plans.
Remaining Retirement Funds May Be Forced Into Mandated US Treasury Obligations - As in Europe, you can expect a percentage of your remaining retirement funds and new required contributions in the proposed Automatic IRA accounts will be forced into government bond obligations and your funds will become the buyer of last resort of US Treasury debt. While the Chinese, Japan and offshore nations, central banks and investors are dumping Treasuries your retirement security will be sacrificed to provide liquidity for investors selling the debt obligations. All Productive Working Americans Will Be Forced Into A Mandatory, Automatic IRA Scheme With Required Annual Contributions - Americans with limited or no savings may actually benefit with this program while those of us with substantial retirement assets will find our benefits stolen to prop up the retirement programs of cities, states and unions. Home Values May Continue To Decline From the Bubble Levels - There are still substantial levels of foreclosures and short sales on the market which will be followed by more homes being listed for sale which are currently held off the market due to low demand during any temporary price upturn. An End to the Home Interest Deduction - Proposals in Congress are already putting the home interest deduction on the table of deduction to be reduced or eliminated in the future. I project the home interest deductions will first be eliminated for wealthy homeowners and later expanded to the middle class. This will create further downward pressure on real estate values and the current weakness may buy some time for homeowners.
Rising Income & Estate Taxes - We have already seen this play out during the Lame Duck session of Congress. Estate taxes have been restored and the only question is will the rate remain at current levels or go up. Second, the Bush tax cuts have been extended for two years due to the bad economy but both parties will soon raise income taxes due to revenue needs. A National Sales or VAT Tax Is Coming - Most western nations already have a VAT tax and this is also already in discussion stages by Congress. Expect an initial tax rate of 5% or more in addition to existing state, county and city sales taxes and the rates will only go up from there. State, Municipal & Union Bankruptcies & You Pick Up the Bill - Note these costs which will be bailed out by the federal government in many cases and ultimately by the taxpayers will be in addition to the coming bailout on their existing retirement and health benefit plans. Note there is finally some good news on this front as many Democrats and Republicans are attempting to curb the growth and powers of parasitic public employee unions.
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