Gresham's law is
an economic principle that states: "When a government overvalues one type
of money and undervalues another, the undervalued money will leave the country
or disappear from circulation into hoards, while the overvalued money will
flood into circulation."
To explain: the dollar
is overvalued and will have value for a brief period of time. But the true
currency will be in gold and silver following the demise of the dollar. Gold
and silver will be found outside of the country for massive amounts of money.
For the record gold and silver are mentioned frequently in the Bible. This type
of money belongs to the Lord. Look it up.
Jeff Berwick wrote the article below.
If you’ve tried to
open a bank or brokerage account nearly anywhere in the world today you’ll be
asked for all manner of documentation. And that’s if you can even open a
brokerage or bank account outside of the US today as an American.
Most banks and
brokerages won’t accept Americans as clients. Brokerages around the world
have been turning away US citizens as clients for years due to the extreme
measures put on them by the Securities & Exchange Commission (SEC) in the
US. And most banks won’t accept Americans due to the Foreign Account Tax
Compliance Act (FATCA) turning every bank in the world into an arm of the IRS
along with the requisite paperwork and expense.
But even if you
aren’t American you will find your banks and brokerages demanding more and more
information about your citizenship, residency, employment and tax
information. To the casual observer, it may just seem like a nuisance… but
there is a very nefarious reason for this trend.
It is because almost
every government on Earth today is bankrupt after decades of socialism,
democracy and fiat currency based central banking. It has enabled these
governments to go into debt never before imaginable… but the game is close to
coming to a halt.
In 2013, the
International Monetary Fund stated the following:
“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). … 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. … 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.”
In other words, in
2013 (when debt levels were much lower than today) the IMF was already
proposing a worldwide tax on wealth!
This is why you need
to fill out form-after-form of info whenever you do anything. It is so
all of your wealth can be tracked for when the IMF, or other facilities,
want to impose a tax on your wealth.
They don’t track it
all because of “money laundering.” (Of course, the main reason anyone
would want to launder money IS because they are being tracked and taxed so
much.)
And they don’t track
it all because of “terrorism” since the US government/CIA/NATO is the biggest
funder and procurer of “terror” on the planet today.
They track it all
because they know nearly every government in the world is nearing its breaking
point in terms of debt and, according to the IMF, this “sharp deteriorating of
the public finances in many countries” requires a global wealth tax in order to
“restore debt sustainability”.
Of course extracting
10% of the world’s wealth in order to make government debt more “sustainable”
only means that money will be taken from productive people and used to pay off
a small percentage of total worldwide government debt… and then – having
obtained a “breather” – governments will go even further in debt and
repeat until almost the entire world is impoverished.
WORLD
ABANDONS CASH
We’ve discussed the
coming global raid on your assets but there is something even more disturbing
lurking in the feverish minds of international policy makers. They are not
just obsessed with making monetary policy on a global scale; they wish to induce
the world to abandon cash altogether.
In South America,
various countries such as Uruguay and Ecuador have begun moving aggressively in
this direction by leveraging the banking system to demand more digital
transactions. But it may be in Europe that progress toward a cashless society
is most advanced.
In a recent article,
the ActivistPost.com reported on the progress of Sweden in moving in this
direction. Sweden is a tech-literate and homogeneous society that can
accommodate such a major change and adapt quickly. The article tells us that
“Researchers at Stockholm’s KTH Royal Institute of Technology are confident
that the Swedish population has almost completely embraced Swish – a digital
person-to-person, real-time payment system loosely similar to PayPal.”
A cashless society
in Sweden is now inevitable, we learn:
The result of collaboration between major
Swedish and Danish banks, Swish is a direct payment app that is used for
transactions between individuals, in real time. The service’s direct
collaboration with Bankgiro and Sweden’s national bank, Riksbanken, is a
critical factor in its success. Besides simplicity and lower costs,
digital payments also add transparency to the nation’s payment system. Several
banks in Sweden already have 100 percent digitalized branches that will simply
not accept cash.
What works in
Sweden’s highly adaptable and obedient society may well not work elsewhere, but
there is no doubt the proverbial gauntlet has been thrown. Over the next years
and for as long as this bankrupt monetary system survives, central bankers,
financiers and top politicos will work hard to try to implement a “cashless”
society with the idea of making everyone’s portfolio and transaction history
available and taxable at “the push of a button.”
Unless you enjoy
having your privacy removed in this manner, you will probably want to begin
planning now to counteract the transparency that the banking cabal is sure you
desire. Some of their more grandiose plans may not come to fruition but the
many that do will damage many an unsuspecting and unprepared family before the
system finally comes crashing down – the victim of its own hubris and
institutional contempt.
HOW
TO PROTECT YOURSELF
Buy
hard assets. Keeping a large
amount of your wealth in almost any fiat bank in the world is risky behavior.
That is where they have the easiest time “bailing themselves in” as
Cypriots found out. The more you can have outside of the financial system
the better… preferably in privately held and stored gold/silver, foreign real
estate and even in things like bitcoin (which isn’t technically hard – but it
is referred to as digital gold for a reason… because it digitally copies the
qualities of gold).
Expatriate.
Why wait around in
Europe or the US for the final collapse? By becoming a resident, or even
better, a citizen of a much less indebted country and renouncing your
citizenship, you can help extract yourself from their systems. As
example, if an American were to get a second passport and officially renounce
US citizenship they would no longer have to pay worldwide income tax… and they
also wouldn’t be under the ever-watchful eye of the biggest tax collection
regime in the world, the IRS. If that person kept most of their assets in
hard assets and became a citizen of, say, Peru (see
more on getting Peruvian citizenship quickly, easily and cheaply here)
the Peruvian government (and most non-Anglosphere countries) does not have the
tax collection, surveillance and enforcement capabilities of the US… and so
even if a global tax on wealth were instituted it is unlikely the Peruvian
government would have the means or ability to enforce it on you.
Keep
funds outside of your home country. Having funds held offshore and, even better, in
some sort of legally protected trust can protect you from a global wealth tax
as well as the ever-searching hands of your home tax department.
Become
a Permanent Traveller/Prior Taxpayer (PT). We’ve informed TDV subscribers for more than
half-a-decade on how to arrange your affairs so that no single country has the
capability to “own” you. It’s not as hard as it sounds and is the way to
live freest in this most unfree world. Later this month, or at latest in
November I’ll be releasing a book on the PT lifestyle that will be free to
subscribers.
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