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Online Flyin6

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IMF proposes wealth consifigation
« on: April 07, 2015, 09:43:16 AM »
Are you paying attention?


As first reported by Forbes, the International Monetary Fund (IMF) dropped a bomb in its October Fiscal Monitor Report.  The report paints a dire picture for high-debt nations that fail to aggressively ?mobilize domestic revenue,? which is code for ?aggressively tax its citizens.?  It goes on to build a case for drastic measures and recommends a series of escalating income and consumption tax increases ? culminating in the direct confiscation of assets.  Why is the IMF proposing this? Because global  governments and central banks pumped trillions of dollars of YOUR money into the banks and stock market over the last several years, catapulting public debts to tens of TRILLIONS of dollars. But now, governments and central banks can no longer sustain these debt levels, and global wealth confiscation is their only way to maintain the Ponzi scheme. So it?s more apparent than ever, if you want to keep your savings & retirement out of the hands of desperate governments, there?s only one thing you can do.


The Wolves Are Starving for Your Money

First, here is the excerpt where the IMF clearly advocates a tax on your private savings to pay down government debt:

?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 tax rates needed to bring down public debt to pre-crisis levels are sizable.  Reducing debt ratios to end-2007 levels would require a tax rate of about 10 percent on households with positive net wealth.?

You read that right:  the IMF wants to take 10% of your private savings in addition to the taxes you?re already paying.  But is that only the beginning of the proposed wealth confiscation?  The report?s most chilling aspect is the clinical manner in which it discusses how all governments can work together to track and tax your savings:

?Financial wealth is mobile, and so, ultimately, are people. ? There may be a case for taxing different forms of wealth differently according to their mobility? Substantial progress likely requires enhanced international cooperation to make it harder for the very well-off to evade taxation by placing funds elsewhere.?

As Forbes points out, there are three key points to take away from this report:
1.IMF economists know there are not enough rich people to fund today?s governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealth?everyone with retirement savings or home equity?would have their assets plundered under the IMF?s formulation.
2.Such a repudiation of private property will not pay off Western governments? debts or fund budgets going forward. It will merely ?restore debt sustainability,? allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along?for which stronger measures will be required, of course.
3.If politicians should fail to engage in this kind of wholesale robbery, the only alternative scenario the IMF posits is government bankruptcy and hyperinflation. The IMF makes no proposes to reign in the Ponzi-scheme entitlement programs that are bankrupting us.

Forbes argues that this is where the bankruptcy of the modern entitlement state is taking us?capital controls and exit restrictions ?so the proverbial four wolves and a lamb can vote on what?s for dinner.?
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Online Flyin6

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Re: IMF proposes wealth consifigation
« Reply #1 on: April 07, 2015, 09:47:56 AM »
More:


Banks Turning Accounts over to Police for Seizure






Written by Damon Geller


Shocking new revelations demonstrate once again that, if you think your money is safe in the bank, you need to think again.  Coming on the heels of a recent New York Times report that the nation's biggest banks have willingly turned bank accounts over to the IRS for total confiscation, the Wall Street Journal now reports that banks are working with the Department of Justice to turn customer bank accounts over to the police for seizure!  It's all done in secrecy, often initiated by the bankers. Tragically, bank account holders don't even know they're being targeted until after the money is seized from their accounts.  The banks' deplorable actions have already resulted in millions of dollars stolen from U.S. citizens without a shred of due process.  And in 80% of the cases, no criminal charges were ever filed. Even more alarming -- in a matter of just a few years -- these cases of unconstitutional bank account seizures have risen over 500%!  Experts advise that you have only ONE choice if you want to protect your savings and retirement from the corrupt banks and government.
 

Banks Have Already Been Reporting You

Whenever a banker finds anything suspicious about the activity of a customer, they are required by the federal government to file a suspicious activity report, or SAR.  What constitutes ?suspicious activity? is at the judgment of the bank.  According to the handbook for the Federal Financial Institution Examination Council, banks are required to file a SAR with respect to ?Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more? if the bank merely suspects unlawful activity, regardless of whether they have actual evidence.

Banks have minimum quotas of SARs they need to fill out and submit to the federal government.  If they don?t file enough SARs, they can be fined or lose their banking charter, and bank executives and directors can even be imprisoned for noncompliance.  Chances are, your banker has filled one out on you?they submitted 1.6 million SARs against loyal customers in 2013 alone!

Banks Rat out Loyal Customers to the Police

But now, the Department of Justice is urging banks to file additional reports with the police, and they?re giving the police the authority to seize bank accounts without due process, even if no crime has been committed!  Assistant Attorney General Leslie Caldwell proudly explained, ?We encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem, who may be able to seize the funds, initiate an investigation, or take other proactive steps.?

So whenever your bank suspects something ?suspicious? is going on, the federal government urges them to pick up the phone and rat you out to the cops!  You might think this is no big deal, that you?ll just tell the police where the cash came from and how it?s being used.  Or you might assume that you?ll have your day in court.  Think again.

The IRS Already Seizes Accounts without Due Process

As recently reported by the New York Times, banks have already been reporting millions of cash deposits under $10,000 to the IRS.  From there, the IRS is arbitrarily deeming these deposits suspicious and seizing all the money in these accounts -- without any evidence of a crime, without filing criminal charges, and without allowing the account holder to fight the confiscation in court!

What?s more, the number of IRS seizures has increased over 500% in just a few years, and in 80% of the cases the IRS never files a criminal complaint against the individual being seized.  The median amount seized by the IRS is $34,000, while legal costs can easily mount to $20,000 or more.  Individuals who are the victims of seizure often cannot afford to fight.  How big are the accounts the bankers turn over to the government for seizure?  The following are just a few of the horrifying cases exposed by the New York Times:
?The government confiscated $447,000 from a family business in New York
?The government confiscated $33,000 from a small restaurant owner in Iowa
?The government confiscated $66,000 from an army sergeant in Virginia who was saving the money for his daughter's college education

So when the police now come walking into the bank to investigate your cash deposits or withdrawals, don?t just assume you will have your day in court.  You may wake up tomorrow and find your bank account has been seized!
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Online Flyin6

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Re: IMF proposes wealth consifigation
« Reply #2 on: April 07, 2015, 10:36:34 AM »
I have my own story:

I advocate moving your money out of 401K's and IRA's and doing it as quickly as possible. I did as much myself.

Back in 2008 I had a plan in place. I was earning a lot of money, like as in as much as an annual paycheck in just a month. I was risking my life doing it, flying combat and combat support missions in Iraq and Afghanistan. I didn't enter the fight because I wanted to get rich as a mercensary, but because going back to war as a 50+ year old man, doing so in an Army of 20 and 30 something's would simply not work for me. Frankly, a lot of us have forgotten more than the youthful leaders the Army has in it's junior ranks actually know. There are more "Professional" ways of soldiering and I chose that door. Actually I was recruited into that world. And they pay their people a LOT of money. They do because the folks in that world do a lot of really crazy stuff for the government. I can remember many missions I flew where we were backed up by the German Army, the Italians, and even units like the US Army's 10th mountain, the 82nd and the 101st Airborne. We were the first in guys most of the time.

I guess I was spending some time justifying my choices there, but it is important to me to know I fought for my nation and my brothers and not for money. But I had a plan for my money as well, I am not stupid. My wife and I built a nice home on some acerage in an equestrian neighborhood in Kentucky which for us is about as good as it gets. Our plan was to remain in the business of combat flying until I was either :killed, wounded, or removed for some other reason, and all that not to exceed 5 years. During that time we would build our home and bank the money so that we could pay it off, then retire completely, and live happily ever after on retirement and savings.

So I invested, and saved and invested some more. I had quite the nest egg in place when the business of 2008 started to unfold. I couldn't really monitor what was going on as I spent my days loading my M4 carbine in the morning and preflighting, and flying and playing a dangerous game of cat and mouse against insurgents in Iraq and Afghanistan. By the time I realized what was going on we had lost our nest egg. Our savings simply evaporated. One stock which was valued at $20 + a share went down to seven cents a share. We lost $300,000!

Not long after that after a rocket came in and killed a bunch of folks near me, my heart stopped working right, I guess I had seen too much and I was medevac'd back to the states and eventually medically retired. Done...I was finished with no chance of making back a half million or so bucks to set us right. Someone got our money...but not all of it.

I really started to study my enemy, the banks, well the banking system and stock market and realized that money controls money. The guys with billions could set the standard and guys like me (and you) were just along for the ride. Oh, yes, you are told how a little bit will eventually grow into a fortune, but it will not, at least for the most of you. Something always happens that flattens the market. It has happened several times to me and I have lost money adding up to a couple million dollars.

The stage is set once more, and I am amazed at just how obvious it all is. I have a theory about that. You see in the past people questioned things more. They were actually much smarter than they are today, and they were not aestheticized by media and toys. Further there was a public education system that taught the basics and taught the truth. None of that has been going on for some time now and as a result we have a population, that for the most part is really, really stupid. I hate being so blunt, but ask someone who is the vice president...or which countries border the united states, or name the continents...you will be surprised and amused at some of the answers and blank stares.

My point is that the powers to be are well aware of the fact that Americans are not too bright so they (Banksters and manipulators) are doing things out in the open without fear because no one notices or cares. People like us are very few and far between.

But we can see it, we can sense it, a feeling that "this is not right," and if we really believe it in our hearts we darn well ought to be doing something about it!

This financial tsunami is very definitely coming our way. That mountain sitting on the west coast of Africa that is cracked and about to slide into the Atlantic that will create an enormous wave which will wreck the east coast of the US... That could happen as well, but that's not the tsunami I am speaking of...

Well, I told you I had a story. That was part of it, here is the rest. We are expected to all behave rationally and conduct ourselves with given parameters which in some circles would define "the norm." I fell out side that definition when I cashed in everything I had invested suddenly and before "IT is authorized" to do so. I moved my cash into my own 401K trust and took command of the money. I purchased the farm, and some other tangible valuable stuff and kept very little in actual cash.

When I did that, I followed all the proper steps, filed the necessary paperwork and hired a firm to help me. We did it right. But the Feds were not happy, I got a letter some time later demanding and extra $55,000 in additional taxes and fines from the IRS.

Befuddled by all this I contacted them and asked why. They told me I had taken a gross distribution before it was allowed and triggered the taxes. Explaining that it was all a mistaken interpretation on their part, I showed them where I had only transferred MY money (not theirs) from one qualified account to another.

They reviewed the "Case" and demanded the $55,000 in fines and taxes again! Now, extremely perplexed, I asked why. They said I needed a form 5498. Upon researching that form and on the IRS website, I discovered the form did not apply to 401K trusts and only to regular 401K's and IRA's so I told them that. Neither did it apply to transferees below a threshold of $250,000. They then said, well, you need it anyway or surrender your rights!

They actually sent me a letter that asked me to first sign and return the letter before they would proceed with my "Case." Reading the letter, I found, buried in the print, was a statement that said "I surrender my rights to go to tax court, and I authorize the IRS to immediately begin collection proceedings!"

Having read this, I contacted my congressman, Thomas Massie. The letter did not represent any sort of constitutional due process I could recognize! Our congressmen work through the tax advocate and after many emails and dealings, essentially they do nothing at all to help. Every step along the way, they check with the IRS and work with them and follow their guidelines, so essentially the tax advocate...your tax advocate, is just another bureaucracy that does nothing except employ people who essentially do absolutely nothing productive at all!

So I called the IRS again. I spoke with a technician. This guy, an Indian, (As in the Asian variety) said, "Oh, form 5498 does not apply in your case." I thought that was great and asked what was the hang-up. He said the only thing we see is that the date of withdrawl and the dates of deposit are missing and they have to be within 60 days.

I then pointed out that I had sent them copies of the withdrawl statements and a copy of the deposit statement which were 4 days apart twice already. He said that his department did not get them and that the "Intake" department got all of that. I asked to speak with them and was told they we, the tax payer are not authorized to talk to them, but he could send them an email. Getting a picture here...?

So he told me all was forgiven and we were good. Then about a month later, I get a letter stating I have until the end of the month to produce form 5498 or collections will begin for the $55,000 in taxes due. Now I'd like to make another point here. The $55,000 in taxes were on maybe $125,000 I had transferred! So the taxes are between a third and a half of my money! You getting this?

This Bank Ponzi scheme is backed up by a corrupt federal reserve, employed by the government with representatives who do not represent you, and have bureaucratic schemes in place (offices which make decisions over your life which you are not allowed to contact) designed to make resolution of your problem impossible, and huge police forces like the IRS which you cannot control and have absolute authority over your life. They are thousands deep. They are financed beyond your wildest imagination. They have laws and lawmakers on their side and in the end you are only one small bug on their vast backside...you are less than nothing!

So would you tell me your money is safe in a IRA? OR is that just an illusion??? You decide
« Last Edit: April 07, 2015, 10:56:12 AM by Flyin6 »
Site owner    IS 6:8  Psalm 91 
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Offline TexasRedNeck

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Re: IMF proposes wealth consifigation
« Reply #3 on: April 09, 2015, 08:16:54 AM »
safety in all senses, is an illusion.  Anything of value can (and has been) confiscated.  Land, cars, cash, bank accounts, etc.  You get the picture.  Hidden tangible assets are the only safe thing, but to your point, Don, moving assets must be done slowly and methodically to avoid hitting the radar.  Small, regular transfers or purchases of tangible goods that hold value.  Weapons, gold, silver, ammo, food, even tools and other items will only increase in value if for no other reason than inflation.

I'm with you Don.  I hope that the glide path that I'm on to get liquid and off the grid puts me in the right spot before it all goes to hell....The next election will tell me if the American people are sheeple or we have a chance.  I will have to accelerate with the risk of hitting the radar if the people don't appear to be learning from their last 2 electoral mistakes.
Kids today don't know how easy they have it. When I was young, I had to walk 9 feet through shag carpet to change the TV channel.

Joshua 6:20-24