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Asrael999 (OP)
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July 04, 2014, 07:43:21 AM |
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Expropriation by the back door Proposing the idea that government bonds be allowed to be extended without triggering a restructuring credit event, no reduction in notional or coupon, but maturity extension drops your Net Present Value and is therefore effectively a wealth tax. http://www.imf.org/external/pubs/ft/survey/so/2014/POL062014A.htmComing to a European country near you? |
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The trust scores you see are subjective; they will change depending on who you have in your trust list. |
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Bagatell
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July 05, 2014, 08:52:27 AM |
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Coming to a European country near you?
IMF = International Monetary Fund The USA will be robbed as well. |
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SunBin
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July 05, 2014, 08:56:36 AM |
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Coming to a European country near you?
IMF = International Monetary Fund The USA will be robbed as well. Most people already know how corrupt the organization is. Why would anyone listen to it? |
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Bagatell
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July 05, 2014, 08:59:07 AM |
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Most people already know how corrupt the organization is.
Why would anyone listen to it?
Sticking your fingers in your ears wont stop them sticking their hands in your pockets. |
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Carlton Banks
Legendary
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Activity: 3430
Merit: 3074
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July 05, 2014, 09:48:03 AM
Last edit: July 05, 2014, 10:19:11 AM by Carlton Banks |
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Don't worry everyone. If this caused the sovereign bond market to fall off a cliff, then the respective treasuries will print money to buy their own bonds! It'll be fine.
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Vires in numeris
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NapoleonBonaparte
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July 05, 2014, 01:35:06 PM |
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Don't worry everyone. If this caused the sovereign bond market to fall off a cliff, then the respective treasuries will print money to buy their own bonds! It'll be fine.
Sovereign bond are priced in their own country currency? Always thought only USD and EURO are used to price bond. |
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Ron~Popeil
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July 05, 2014, 07:23:21 PM |
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Sounds like the IMF are turning can kicking into a science. God help future generations if this whole damn mess doesn't collapse under its own weight :/
I am starting to think the sooner the better. The faster it falls apart the sooner we can rebuild it. |
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ShakyhandsBTCer
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Activity: 448
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
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July 06, 2014, 01:44:37 AM |
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Sounds like the IMF are turning can kicking into a science. God help future generations if this whole damn mess doesn't collapse under its own weight :/
The IMF's proposal is counter intuitive. Even if extending the maturity dates of bonds does not trigger a "credit event" for credit ratings purposes and/or credit covenant purposes it would still change the NPV of the underlying bonds, making the bonds worth less to investors. |
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STT
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Leading Crypto Sports Betting & Casino Platform
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July 06, 2014, 02:04:24 AM |
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Proposing the idea that government bonds be allowed to be extended without triggering a restructuring credit event, no reduction in notional or coupon, but maturity extension drops your Net Present Value and is therefore effectively a wealth tax. I dont think that'd be a new thing especially. UK still has world war one debt on its books, thanks to some clever juggling it never has to expire. IMF is just dusting off an old cookbook of chicanery and acting like its their recipe. http://www.bondvigilantes.com/blog/2010/02/02/what-happened-the-last-time-the-uk-defaulted/USA UK or any country with over 100% of GDP in public debt is unlikely to ever repay the value. I guess its honest to just remove the fixed term, gov made it clear previously they can only pay interest by issuing more debt |
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kjs
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July 06, 2014, 03:49:09 AM |
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The thing is if they do this then they won't be able to raise any new bonds - investors will move their capital to 'safer' investments which will leave equities, commodities and corporate bonds as the only realistic alternatives.
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OROBTC
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July 06, 2014, 04:18:12 AM |
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Wealth held quietly (off the grid, in BTC, in gold, perhaps quietly in some foreign countries <--- use your imaginations) may partly shield you in the event that a "Wealth Tax" comes around.
A Wealth Tax is a job killer. Socialism run amok. I hope that our Dear Leaders do not take us down that road to Hell.
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arbitrage001
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Merit: 1000
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July 06, 2014, 05:18:20 AM |
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...
Wealth held quietly (off the grid, in BTC, in gold, perhaps quietly in some foreign countries <--- use your imaginations) may partly shield you in the event that a "Wealth Tax" comes around.
A Wealth Tax is a job killer. Socialism run amok. I hope that our Dear Leaders do not take us down that road to Hell.
Socialism for the rich already run amok. Taking back part of the money stolen via taxation is inefficient, should just let them take a haircut. |
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