Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32137. (Read 26472720 times)

Where?

We're on the move again.

Serious stuff. I will run on my bank tomorrow.

Thank you for that.
They have a range of useful services.

Good observation however sentiment can change rather quickly.

BTW anyone seen this service? Recharge your cell phone time with BTC?

http://btctele.com/

Wedge formation on Mt. Gox. That supposedly means that a move out of the wedge is a significant indicator for future price movements.

As well as telemaco, you make the mistake of thinking "they" would openly discuss the details of their plan if they were seriously thinking about it.

Alternate view: A bunch of economists with big payrolls have to justify their salaries and write reports. In them, they touch on hot topics, one of them being haircuts.

It's really quite astonishing how openly cynical they dare to appear. Sounds like a bunch of evil thugs masterminding a plan on how to best steal the most amount of money from people with the least amount of resistance. And that is exactly what's going on. When people wake up to this massive theft happening we're going to see manic capital flight into bitcoin. As terrible as this is for the people being victims it's also extremely bullish for bitcoin. Can't do much than secretly cheer this craze on. The more they steal the more attractive the ultimate tax haven of digital currencies will become.

http://www.blockchained.com

Where does this chart come from ?

Of course I was reading it correctly, except that the image posted here is being updated and my comment is now outdated.

LOL =D

good video http://www.youtube.com/watch?v=HYSEwwOt_ic   

very funny

The report itself says:
"The sharp deterioration of the public finances in many countries has revived interest in a "capital levy"— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)"


First, IMF economists know there are not enough rich people to fund today's governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealth—everyone with retirement savings or home equity—would have their assets plundered under the IMF's formulation.
Second, such a repudiation of private property will not pay off Western governments' debts or fund budgets going forward. It will merely "restore debt sustainability," allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along—for which stronger measures will be required, of course.
Third, should politicians fail to muster the courage to engage in this kind of wholesale robbery, the only alternative scenario the IMF posits is public debt repudiation and hyperinflation. Structural reform proposals for the Ponzi-scheme entitlement programs that are bankrupting us are nowhere to be seen.

There are more references in the pdf. You can find them quite fast looking for levy or levies in the text. Maybe you are right and i did not capture the right image from the PDF, but consider the environment: Cyprus, Eslovenia Bank haircuts, Half of private pensions on Poland taken. Even the title of IMF PDF Report -> "Tax Times" does suggest they are going to tax and this is the time for taxes.

I fail to infer any "recommendation" of a levy in that text. It looks like an objective and succint review of such a practice along the last 100 years or so. What's more, the last paragraph notes the haircut would be quite large, making a case against it.

unfortunately too many bozos who have other interests to listen to on this one....

GMU is one of the foremost feeder institutions to Washington DC.  It is well respected inside the beltway.  This will be read and attended to by folks that make decisions, whether and how they follow any of it is anyone's guess.