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News Link • TAXES: Federal

Marc Faber: "I Am Sure Governments Will One Day Take Away 20-30% Of My Wealth"

• zerohedge.com
 As a reminder, back then we said that "all attempts to eliminate the excess debt have failed, and for now even the Fed's relentless pursuit of inflating our way out this insurmountable debt load have been for nothing.... The only way to resolve the massive debt load is through a global coordinated debt restructuring (which would, among other things, push all global banks into bankruptcy) which, when all is said and done, will have to be funded by the world's financial asset holders: the middle-and upper-class, which, if BCS is right, have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path."

Few took it seriously, and why should they - after all the market has been blissfully rising before and ever since then, which implies everything was ok, right?

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