IMF: ‘This Is Our Last Wake Up Call For Your Savings’
Zero Hedge
Submitted by Sprout Money on 01/12/2014
- Do you remember? The IMF set off the public and the media in October by stating in a report that it would be a great idea to invoke a one-time levy on the savings of the public to get governments’ finances in the industrialized world back on track. That message or that ‘theoretical exercise’ as the IMF called it then, did not sit well with most people and it resulted in a media frenzy. A few weeks later they did try and failed at damage control, which was nothing more than public embarrassment. Meanwhile we have reached 2014 and yes, we have a new document commissioned by the IMF, from two Harvard economists, Carmen Reinhart and Kenneth Rogoff.
-
IMF: high time for financial repression
Both Harvard economists are not beating around the bush. The idea that the mountain of government debt in the industrialized world is controllable and can be solved over time with enough economic growth is completely unrealistic. Next to that it appears that politicians are suffering from collective memory loss. In Europe and the US, in the period between both World Wars, countries also defaulted. The current mindset that defaults are only reserved for Emerging Markets is completely incorrect, according to Reinhart and Rogoff.
Both economists state that the mountain of debt from the industrialized world is at the highest level in the last 200 years. And that is a problem, a problem which cannot be resolved by economic growth exclusively. The Eurozone’s debt amounts to 95 percent of its GDP and the US is almost at 110 percent. Ultimately, the Eurozone is not that far behind at the rate at which debt is growing. You can bicker about the level at which debt is impossible to pay back, but the consensus is that this lies somewhere between 90 and 100 percent for the industrialized world, because of its low growth figures (1 – 2.5 percent).
Turnkey solution
‘Fortunately’, both Harvard economists have a turnkey solution. Before we get into the details we want to emphasize that this report is commissioned by the IMF. That gives the IMF at least the possibility to distance themselves from its contents, if hell breaks loose once more. For now it remains quiet, however. Most media channels, and especially the MSM, did not pick up the (at least to us) explosive report. In these financial times, nobody appreciates sleeping journalists we would think, but who are we to judge.
-
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
recall this in coming weeks as they seize our pensions in an IMF bailin for another Banking meltdown
1.6 trillion or 53% of next year’s proposed budget goes to military
https://www.youtube.com/watch?v=kFeduoDWKj4