Off the microphone of RE
Aired on the Doomstead Diner on July 6, 2014
Discuss this Rant at the Podcast Table inside the Diner
…For today, I want to look at the specter of Wealth Confiscation coming down the pipe, which has already occurred in places like Cyprus, but looks likely to expand in scope as the general financial Ponzi of the World implodes.
Graham Summers of Capital Research is a regular contributor to ZH, and a regular predictor of Financial Doom as well. His schtick is how you need to set up your portfolio for Doomsday.
In his latest piece below, Graham talks about how TPTB will come after anyone with financial assets over around $200K, striking FEAR into the Heart of every 1%er out there.
The idea here is, TPTB will do anything and everything they can to try to keep the financial system floating another day, and if that means they have to confiscate the paper wealth of 99.9% of the people with some money in the bank, they will do so.
While worrisome to the 1% crowd out there, this is probably not quite so worrisome to the .01% with wealth measured in $Billions$. These folks are “Key Men”, and though they may take a Haircut at the beginning, they won’t lose it ALL…
For the rest, LISTEN TO THE RANT!