IMF paper warns of 'savings tax' and mass write-offs as West's debt hits 200-year high
Debt
burdens in developed nations have become extreme by any historical
measure and will require a wave of haircuts, warns IMF paper
The
policy is essentially a confiscation of savings, partly achieved by
pushing up inflation while rigging the system to stop markets taking
evasive action.
More bailouts, money printing, and government
intervention will occur. Additional international organizations or funds
will be created and existing ones will have their powers expanded, in
order to save the economies around the world from collapse
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