Email of the day
Comment of the Day

January 07 2014

Commentary by David Fuller

Email of the day

On the IMF’s proposal to confiscate personal savings to rescue banks:

“Hello, what do you think of the IMF's idea of confiscating 10% of personal savings in the eurozone to save the banking system?” 

David Fuller's view

I think it is a great idea, provided they start with the IMF officials’ assets and then move on to confiscating the wealth of all other bureaucrats, government officials and politicians, past and present. 

Seriously, in the long history of bad ideas, this is one of the worst.  It will also encourage all kleptocracies to steal even more from private citizens. 

Thanks for the link to Bill Frezza’s column on the subject, which is worth reading.   

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