By eliminating all money government hopes to get every penny in tax. They are shutting down the global economy for Americans threatening to prosecute any foreign entity who refuses to report on what Americans are doing overseas. How can America expand into the global economy if Americans cannot operate overseas?
This is part of the reason why global volume in markets is still about 50% of what it was in 2007. It is imploding faster than most suspect and government would rather arm itself to the teeth than think for one moment that there is no way out following the present course of action.
When they track every penny, collect all the maximum taxes, then all that is left will be to confiscate assets following the course of FORCED LOANS. That is one reason to move cash from banks into investment TAKING DELIVERY of shares. What Cyprus has done is simply seize 10% of everyone’s accounts including foreigners. This is a dangerous precedent because it will send capital out of countries in trouble even faster increasing the volatility. The course the US will follow will be eventually along the lines of Venice and Florence where they will seize a portion of your account under some new PATRIOT ACT (Part II) and they will hand you bonds and then say they confiscated nothing. A real patriot would have no problem buying their bonds.
There is no place to go with this present course. The negotiations on the Hill have begun and Obama actually visited Congress offering $2 in cuts to entitlements for every $1 raised in taxes. This man is a Marxist right to the core and is incapable of being objective. This is all about hatred of people who earn a living.
The Republicans want to cut a deal. Obama went down in the polls on the way he handled the sequestration. His closing of tours at the White House blaming Republicans reveals how nasty this guy has become. What he spends on one state dinner at the White House is more than the annual budget for tours of children. He does nothing fair or honest. Just wants to follow France down the tubes. He is arming America to the teeth preparing to slaughter citizens rather than ever look at his Marxist policies and where they are leading.
Obama counted on the Republicans blinking because they would not like the defense spending cuts. The first thing he cut was the missile defense shield because he knew that was a Reagan program close to the heart of the Republicans. This is all about him raise taxes again! Expect FORCED LOANS from this guy using an EXECUTIVE ORDER bypassing Congress entirely. The confiscation of gold by FDR was by EXECUTIVE ORDER! Thus, FORCED LOANS cannot be ruled out. The Republicans are incapable of looking at the trend either. So were are in a runaway taxi driven by a kangaroo.