Sunday, October 20, 2013

Another way to pick our pockets.

Another way to pick our pockets.  This time, proposed by the IMF...

1 comment:

  1. Tom, this is equivalent to the effects of inflation. Please see for how governments of countries with fiat currency (paper money) use inflation to effectively tax all private savings. This explains both regular and hyperinflation, and explains why despotic governments such as Venezuela, Argentina, Iraq and Zimbabwe cause runaway inflation.
    Inflation (and equivalent-to-tax effect) is accomplished by printing extra money. The government gets the money, and everyone else's savings goes down in value, proportionately.
    In the US this is accomplished by "quantitative easing".