Economics

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BULLION

Monday, 13 February 2012

The End Game Is Near?

The last days of Rome saw the then regime begin to increasingly use oppressive policies of greater taxation and greater control over it's citizens finances. In the death spiral of an empire, when a government cannot pay it's bills, it seeks to suck the financial life-blood about of its own people.

They get desperate to hold onto power. And it isn't a pretty sight to behold.

Long years of war (sounding familiar) for Rome drained it's wealth. After the prosperous years of being generous with social programs, like allowing grain subsidies to it's citizens, Rome began to "run out of other people's money". They first began to 'clip' their silver and gold coins and eventually reduced the gold and silver content. The ancient definition of 'quantitative easing'. Inflation ensued. When this was failing, the government had to do something, so it went after the wealth of it's citizens.

So forward to today. The US has announced a number of policy changes to go after wealth globally. Even our little kiwisaver schemes, when invested in US mutal funds, may be about to be hit with taxes payable in the US. Another blow for the ailing kiwisaver scheme. And don't forget the US regulations surrounding the money deposited in Swiss bank acounts by US citizens. There is no hiding anywhere and no safe harbour for wealth...more

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