Is this in our future? Afterall, its patriot to give your money to the government! Time to step up!!
“It’s horrible,‘’ said Jaime Valdivia, who manages $1 billion of assets for Emerging Sovereign Group in New York. ``We’re going back to the dark ages. Not even in times of the worst financial stress did the government ever think about taking over the private pension system.”
“The South American country hasn’t had access to international capital markets since it defaulted on $95 billion of bonds in 2001. Holders of some $20 billion of those bonds rejected the government’s 2005 payout of 30 cents on the dollar, the harshest sovereign restructuring since World War II.”
I’ve been watching financial news about Argentina for a while, as I’ll be heading there for a vacation just after Christmas. Things could go very bad there, but possibly quite good for me.
Flights, hotels, and a few tours are already booked, hopefully nothing happens to those companies.
I’ll be holding off on exchanging currency for a while yet.
This is being ignored in the MSM but what’s happening is a ‘flight to the center’ around the world. Our dollar is rising as investors flee with whatever money they have toward safe havens, like Switzerland and the USA. But now the prospect of an Obama victory is worrying investors. Money subsequently flows into our treasury bills, not our stocks.
Capital markets are shutting down all around the world because governments want to consume investment capital. One look at Obama’s plan says it all.
Global depression is in the works. The consequences of an Obama victory is a signal to abandon the USA. It may herald the beginning of a new Dark Ages.
During the last Mexican presidential election, my wife’s friend from Mexico city was talking about how many people were going to leave Mexico b/c of Obrador’s wealth confiscation plan like this.
If this isn’t the surest way of encouraging capital flight, I don’t know what is. I imagine they might try something like this in the US as well.
[quote]PRCalDude wrote:
During the last Mexican presidential election, my wife’s friend from Mexico city was talking about how many people were going to leave Mexico b/c of Obrador’s wealth confiscation plan like this.
If this isn’t the surest way of encouraging capital flight, I don’t know what is. I imagine they might try something like this in the US as well. [/quote]
[quote]Neuromancer wrote:
PRCalDude wrote:
During the last Mexican presidential election, my wife’s friend from Mexico city was talking about how many people were going to leave Mexico b/c of Obrador’s wealth confiscation plan like this.
If this isn’t the surest way of encouraging capital flight, I don’t know what is. I imagine they might try something like this in the US as well.
Who would you mean by ‘they’?
(genuine question)[/quote]
As you can witness in neighboring Zimbabwe, if capital isn’t safe, investment collapses. No one will invest serious money in those situations. How many here would invest in Zimbabwe?
Taxes on capital, like Obama proposes, are an absolute disaster longer term. Money flows where it is less taxed and less risky. Obama is making capital investment riskier here.
[quote]Neuromancer wrote:
PRCalDude wrote:
During the last Mexican presidential election, my wife’s friend from Mexico city was talking about how many people were going to leave Mexico b/c of Obrador’s wealth confiscation plan like this.
If this isn’t the surest way of encouraging capital flight, I don’t know what is. I imagine they might try something like this in the US as well.
Who would you mean by ‘they’?
(genuine question)[/quote]
How about the same people that pushed through the bailout despite overwhelming public opposition? The political/financial axis responsible for the current social engineering debacle.
Prior to the Obrador/CAlderon race, there were Mexicans moving their money into the United States in case Obrador got elected.
[quote]PRCalDude wrote:
Neuromancer wrote:
PRCalDude wrote:
During the last Mexican presidential election, my wife’s friend from Mexico city was talking about how many people were going to leave Mexico b/c of Obrador’s wealth confiscation plan like this.
If this isn’t the surest way of encouraging capital flight, I don’t know what is. I imagine they might try something like this in the US as well.
Who would you mean by ‘they’?
(genuine question)
How about the same people that pushed through the bailout despite overwhelming public opposition? The political/financial axis responsible for the current social engineering debacle.
Prior to the Obrador/CAlderon race, there were Mexicans moving their money into the United States in case Obrador got elected. [/quote]
I was wondering if you think that it is an internationally organized,coordinated effort,or that it is happening independently in various countries.
Personally,it is looking as the start of some kind of supra national banking entity with deep hooks in the national sovereignty of individual countries via their financial systems.