Unprecedented Wealth Confiscation & The Disastrous Endgame

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/5/11_Unprecedented_Wealth_Confiscation_%26_The_Disastrous_Endgame.html

The elites know that we are in the final stages of a financial, mathematical black hole from which there is no escape.  Student loan rates in the high single digits and credit card levels in the 10-50-percent range are the ugly face of the wealth-consuming vacuum.  Unfortunately, as retirement accounts are being depleted and the middle class is being vivisected, the interest rate machine will have to be replaced by a more direct and ominous mechanism -- outright confiscation.

There are many tools with which to confiscate wealth. Property taxes have always been a favorite whether one is an owner or a renter.  There have recently been disturbing initiatives directed at the $17 trillion in U.S. retirement accounts as well as brokerage accounts in general.  Last week even the pope even came out in favor of wealth redistribution.  This was ironic coming from one of the wealthiest entities in human history, the heir to the apparatus of the Roman Empire.  One can only imagine what 2,000 years of donations and reinvestment would look like on their balance sheet.

Some amazing comments were made last week.  It is hard to tell whether it is just outright ignorance, propaganda, or both.  One of them was that falling productivity would be good for future hiring.  Another was that rising inventory levels were good for the economic outlook.  Last week we were told that a million people dropping out of the work force was great since the unemployment rate dropped.

We live in an economic insane asylum.  Imagine a business where management said that sales were flagging, inventories were growing, laid-off employees were filing more unemployment claims against the business, there was no money in the checking account other than what we borrowed at exponential rates, and everyone thinks “mission accomplished.”  It is bizarre and tragic.

At some point there will be an implosion of the monetary system.  Common sense tells us that it is inevitable, as do arithmetic and history.  Investors in gold and silver should not be attempting to predict the timing of the event, nor any specific magnitude.  It is about wealth preservation, pure and simple.  Regardless of the lies we are being told to the contrary, the bulk of humanity is making gold and silver an integral part of wealth preservation.  Stuffing money into overpriced real estate or artwork will prove a costly mistake.

Gold, silver, and the precious metals mining companies are the only absurdly undervalued assets on the planet and should continue to be considered for those wishing to survive the financial maelstrom ahead.

New EU Plan Will Make Every Bank Account In Europe Vulnerable To Cyprus-Style Wealth Confiscation

http://theeconomiccollapseblog.com/archives/new-eu-plan-will-make-every-bank-account-in-europe-vulnerable-to-cyprus-style-wealth-confiscation

The Gold standard

This is one argument for a return to the gold standard. Note the author and date.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

Alan Greenspan
[written in 1966]