Zero Hedge: "Just the beginning"

A wealth tax is headed your way. This will include the USA. Obama can say what he likes, but the USA debt will have to be restructured as well; so that what has happened in Cyprus will happen here too.

Published on Zero Hedge (http://www.zerohedge.com)

Home > For Everyone Shocked By What Just Happened... And Why This Is Just The Beginning

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For Everyone Shocked By What Just Happened... And Why This Is Just The Beginning

By Tyler Durden

Created 03/16/2013 - 18:28

[1]Today, lots of people woke up in shock and horror to what happened in Cyprus: a forced capital reallocation mandated by political elites under the guise of an "equity investment" in insolvent banks, which is really code for a "coercive, mandatory wealth tax." If less concerned about political correctness, one could say that what just happened was daylight robbery from savers to banks and the status quo. These same people may be even more shocked to learn that today's Cypriot "resolution" is merely the first of many such coercive interventions into personal wealth, first in Europe, and then everywhere else. For the benefit of those people, we wish to point them to our article from September 2011, "The "Muddle Through" Has Failed: BCG Says "There May Be Only Painful Ways Out Of The Crisis [2]", which predicted and explained all of this and much more. What else did the September BCG study conclude? Simply that such mandatory, coercive wealth tax is merely the beginning for a world in which there was some $21 trillion in excess debt as of 2009, a number which has since ballooned to over $30 trillion. And with inflation woefully late in appearing and "inflating away" said debt overhang, Europe first is finally moving to Plan B, and is using Cyprus as its Guinea pig.  For those who missed it the first time, here it is again.... ( read the rest at the link provided below *** )

• France
• Germany
• Greece
• Insurance Companies
• Ireland
• Netherlands
• Portugal
• Real estate
• Reality

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Source URL: ***  http://www.zerohedge.com/news/2013-03-16/everyone-shocked-what-just-happened-and-why-just-beginning

Links:
[1] http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/03/One%20Time%20Wealth%20Tax.jpg
[2] http://www.zerohedge.com/news/muddle-through-has-failed-bcg-says-there-may-be-only-painful-ways-out-crisis