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09.04.26 - 00:54
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The New Financial Iron Curtain: Taxes, Capital Controls, & The War On Your Wealth (ZeroHedge)
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The New Financial Iron Curtain: Taxes, Capital Controls, & The War On Your Wealth
Authored by Chris Macintosh via InternationalMan.com,
There is a term called “gating” in the fund management world.
It refers to blocking investors from redeeming their funds. Funds do this sometimes as a precaution… and other times when they are in the poo.
Well, governments are the same. When they are in the poo, they also resort to their version of gating. It's just called taxes.
I've always loved the Dutchies. Growing up in South Africa with the Afrikaners — descendants of the Dutch — I can tell you that as a group they are fantastic: hard working, ethical, and very down to earth.
It is with sadness, therefore, that I have to acknowledge that their government is thoroughly cocked-up, and they themselves are already behind a financial iron curtain.
They recently approved a 36% unrealised capital gains tax.
It has since been put back for consideration, but this is not the point. The point is that wh...
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