On Jan 2, famed economist Martin Armstrong gave a dire warning to nations across the globe, and particularly in Europe, that a confiscation of their assets was not only inevitable, but will happen much sooner than anyone believes. In a breakdown of IMF Plan FM13021, which is a study from the IMF on how taxation can be used to assist banks and sovereign nations in overcoming financial crises, Armstrong notes that the entire foundation for IMF crisis management is based on French Marxism, where all wealth is believed to be the property of the state, not the individual.
Anyone who thinks it is a fantasy that government will simply just confiscate 10% of everyone’s accounts in Europe better have another look at the fool they see in the mirror staring back at them. This IMF solution is traditionally French and is really coming because the people in charge are effectively Marxists and this idea came from the IMF under the control of French ideology. They will expropriate these funds to save a banking system that they screwed up and will never reform anything because they are incapable of admitting any mistake.
The head of the IMF is effectively a French Socialist who is hell bent on destroying the world economy imposing French Socialism on the rest of the world. Christine Madeleine Odette Lagarde is of course a French lawyer and politician who has been the Managing Director of the International Monetary Fund (IMF) since 5 July 2011. She is born and bred to be a true French-communist (the type that convinced Marx to join) and sees other people’s money as the wealth of the state. - Martin Armstrong, Armstrong Economics
Back in October of last year, when the U.S. was beginning its 16 day government shutdown over the budget and raising the debt ceiling, Lagarde went public is denouncing Republican efforts to curb deficit spending, and halt the accumulation of more debt. The true purpose behind this was to ensure that the U.S. continued to fund the European bailouts, which also included a proposal that a 71% tax should be instituted on all Americans making over a certain income level.
Lagarde is not alone in being the only French politician to seek massive taxation over the wealth producers in the world. Just days ago, France's high court upheld President Francois Hollande's plan for a 75% tax on all millionaires within the country, sparking protest and outrage from businesses and individuals who attain high levels of income from their earnings.
The European Union was founded upon agreements made by the once productive nations of Germany and France, but over time, one of these nations has flourished in productivity and wealth while the other has seen their society evolve into a socialistic state of welfare and high taxes. Thus as the EU stands once again upon the precipice of collapse, it is not surprising that France, which is emerging as the next great communist country since the fall of the Soviet Union, is proposing and implementing economic policies that see an individual's wealth as being owned by the state, where citizens are allowed to keep portions of what they earn only at the behest of the ruling ideologues such as Christine Lagarde and Francois Hollande.
The irony of it all is that China, which holds onto a political form of communism, has chosen the path of financial capitalism and now stands on the threshold of becoming the primary economic superpower in the world. While at the same time, Europe, which was the birthplace of Capitalism, is rushing headlong into Marxism and complete economic control over individuals, businesses, and sovereign states. And where the Far East is flourishing economically, and even supporting its new growth of entrepreneurs and wealthy citizens, the IMF and the powers of Europe are ready to impose confiscations and massive new policies of taxation to pay for nation states that have spurned free enterprise for the failed system of communism.