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The NWO's Plan
for a "Global Asset Registry"
How would you like to be assigned
a “global individual unique identifier”?
It sounds like something straight
out of Orwell’s 1984.
But this is a real proposal. And
it’s something that may be coming in our near future…
The reason you’d be getting
assigned this number is so that a new, supranational organization could track
you.
And not just track you —
but your assets as well.
You see, this organization would
operate what’s called a “Global Asset Registry.”
And believe it or not, you, your
family members, colleagues, friends, fellow citizens — everyone in the
world — would be required to report all their assets to them.
So stocks, bonds, real estate,
precious metals, art, jewelry, you name it — if it’s something of value, they
want to know about it so they can record it in their database.
Sound far-fetched?
This Proposal Would Spell the End of Financial Privacy
As We Know It
by Mark Nestmann
The tax-and-spenders of the world
are desperate to find new ways to pay for the crumbling welfare states of
western democracies. And they’re targeting the “rich” to do it. [Imagine if one
of the socialists infesting America manage to become President]?
Senator Elizabeth Warren
(D-Massachusetts), a 2020 presidential candidate, has proposed a 2% annual tax
on assets of households with a net worth of $50 million or more. The tax would
increase to 3% for billionaires.
Warren’s policy team estimates
the wealth tax would raise an astonishing $2.75 trillion over the next decade.
She suggests the tax would be a good way to start paying for proposals such as
“Medicare for All.”
Some of the wealthiest people in
the world support the idea. A public letter signed by George Soros, Facebook
co-founder Chris Hughes, and the daughter of billionaire Charlie Munger calls
for a wealth tax to “help address the climate crisis, improve the
economy, improve health outcomes, fairly create opportunity, and strengthen our
democratic freedoms."
The mechanics of a wealth tax
couldn’t be simpler. You prepare a balance sheet of your worldwide assets.
Then, you subtract an exempted amount, say $50 million. You then multiply the
difference by 2% or 3%.
Wealth taxes advocates say the
idea rewards hard work and penalizes non-productive investments. And it rewards
productive investment and penalizes unproductive investment.
This, of course, is nonsense.
Every dollar of wealth tax collected is unavailable to invest in new factories,
new technologies, or anything else. Like all taxes, the money goes into the
hands of bureaucrats who think they know better than you do what should be done
with your money.
You might find it hard to feel
sorry for the 0.01% of Americans who would have to pay the wealth tax, but it’s
fundamentally unfair. Under Warren’s proposal, if you have a net worth of $100
million, you’d need to pay $1 million annually in wealth taxes ($50 million
subject to wealth tax multiplied by 2%) in addition to the income taxes you
already pay. If the $50 million is invested in non-income-producing assets,
you’d pay $1 million, with no offsetting income.
If, for example, your assets are
primarily real estate that doesn’t generate income, you are penalized for
accumulating property. How fair is that?
On the other hand, if you invest
the $50 million in 30-year Treasuries yielding 3%, you’ll generate $1.5 million
in income annually. You pay $1 million in wealth tax plus income tax at a 37%
rate ($555,000 total) for a total tax of $1.55 million.
Congratulations! Your net loss is
only $55,000.
If you’re not wealthy, it’s
tempting to rationalize a wealth tax by saying, “I’m not rich. A wealth tax
could never affect me.”
Don’t fool yourself. Once a
wealth tax is in effect, Congress can set it to whatever threshold is
politically expedient. In France, before it was abolished, the government
applied the “solidarity tax” if you had a net worth exceeding €1.3 million. In
Switzerland, where wealth taxes are imposed on residents by each of the
country’s 26 cantons, the threshold is sometimes as low as CHF 100,000 — about
$101,500.
There are problems with wealth
taxes. One issue is that they’re expensive to administer and don’t raise much
revenue. They also tend to drive wealthy people out of the countries that
impose them. That’s why while 12 European countries had wealth taxes in 1990,
and only three do today: Norway, Spain, and Switzerland. France ended its
wealth tax in 2018, after more than 40,000 millionaires left the country
between 2000 and 2012.
Another problem is that assets
subject to a wealth tax seem to “disappear.” In Switzerland, a 2016 study
concluded that for every 0.1% increase in the wealth tax rate, the assets
reported to tax authorities decreased by 3.5%.
Proponents of a US wealth tax
think they can ensure that wealthy citizens can’t avoid it by leaving the
country or hiding their money. European countries impose worldwide tax only on
their residents. After a sustained period of non-residence, generally one year
or longer, individuals end their liability to pay tax on their worldwide
income.
But the US requires all citizens,
no matter where they live, to pay tax as if they never left. If you’re a US
citizen, you can’t avoid taxes simply by moving abroad. The only way you can
permanently end your tax obligations to Uncle Sam is to expatriate — give up US
citizenship and passport. What’s more, if you have a net worth greater than $2
million, you must pay an “exit tax” on any unrealized gains above a certain
threshold ($725,000 for 2019). Depending on the type of asset and how long
you’ve held it, the exit tax could be as high as 37%.
That’s not enough for Senator
Warren. If her wealth tax plan becomes law, she’d confiscate 40% of your wealth
above $50 million if you expatriate. Naturally, that number could be dialed
down to whatever level Congress dictates. That would effectively lock you in if
you’re wealthy enough to be subject to whatever threshold applies for the tax.
But even if Senator Warren
succeeds in keeping billionaires from expatriating, she’ll face the same
problem Switzerland’s cantons have experienced: finding the assets to tax.
Fortuitously, economist Thomas Piketty, who believes Warren’s wealth tax
proposal is as “American as Apple Pie” has the answer. He and a group of like-minded Bolsheviks want
to create a “global asset registry” (GAR) that would use blockchain technology
to track all assets worth more than a specified value possibly as low as
$10,000.
According to their
proposal, A Roadmap for a Global Asset
Registry, the GAR would “prove a vital tool against … removing
legitimate income and profits from the economy in which they arise for tax
purposes.” A GAR would thus prevent wealthy individuals in such paragons
of freedom as Greece, Argentina, Russia, and Saudi Arabia from squirreling away
their assets offshore.
The proposal suggests the GAR
should be considered a logical next step to initiatives taken by the
Organization for Economic Cooperation and Development to facilitate “tax
transparency.” One such initiative is the Common Reporting Standard (CRS), which mandates the automatic exchange of information
from financial institutions in one country to tax authorities in the country of
residence of their clients. More than 100 countries have already adopted the
CRS.
Another initiative the Roadmap endorses
is public registries of beneficial ownership of companies and trusts, which it
refers to as the “emerging international standard.” The idea here is that
everything you own should be a matter of public record, accessible to anyone
with an internet connection. The Roadmap claims this utopia
will “end wealth secrecy.” To make certain that no one is overlooked, the Roadmap suggests
that every person on our planet be assigned a “global individual unique
identifier.”
The Roadmap acknowledges
that some people will oppose a GAR since it could give extortionists, kidnappers,
and other criminals a laser-focused blueprint to identify the most lucrative
targets. That’s not a problem, according to the authors, because “The
right to privacy is not an absolute right.” And if you’re wealthy but
have decided to live below your means so as not to be a target… well, too bad.
As the Roadmap states, “After all, the GAR, as much as
any policy measure, involves a trade-off.”
Right now, Senator Warren’s
wealth tax and a GAR to enforce it are only proposals. But if they come into effect,
they will spell the end of financial privacy for everyone. There will be
nothing to stand in the way of the government seizing whatever percentage of
your wealth is politically expedient.
As I’ve said many times before,
maybe it’s time to consider your Plan B.
Mark Nestmann is founder of the Nestmann Group and has helped 15,000+
customers and clients successfully use geographical diversification to protect
their assets and financial privacy.
Thank you for your support!
Bruce “the Poor Man”
Additional News & Resources…
The Future Of
America...Socialists to hijack our nation
The Future
of America: ground-breaking documentary on
the coming 2020 national nightmare.
Learning Survival Skills + 45 Skills
to Get Started On Today
In today’s world it is all too easy to get caught up with a lot of fancy gear and neglect learning skills that can get you by in a variety of situations. Survival skills are something that everyone can learn … Continued
In today’s world it is all too easy to get caught up with a lot of fancy gear and neglect learning skills that can get you by in a variety of situations. Survival skills are something that everyone can learn … Continued
5
States With the Highest (and Lowest) Financial Literacy Rates
Only around 34% of people could answer four out
of five questions correctly when asked to take a quiz about basic financial
concepts, according to a report from the FINRA Investor Education Foundation,
down from 42% in 2009.
Secret
Scores: How Web Sellers Charge You More Based on Your Data
What you pay online, the quality of the customer
service you get, and what your return privileges are may vary depending on who
you are and the data a website has about you. Interestingly, in one experiment,
when the study's authors checked prices online, they were sometimes offered lower prices when they visited websites
anonymously. They are asking the FTC to crackdown on sites
that use secret scores to profile visitors.
How To Make A Moonshine Still
|
|
A moonshine still is a device you use to distill liquid mixture
by a process of heating, then cooling, thus separating or purifying the
liquid through the vapor collected. A moonshine is actually what you call the
liquor produced at a time when it was illegal to do so. |
The one thing that nearly every mass shooting has in common… and it
isn’t guns
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