In times of economic stress, capital will first seek safety then profit. When capital is openly threatened with seizure, confiscation or the 75% income tax rate for the rich that France promises, it flees or goes underground. Stephen Grover Cleveland (March 18, 1837 – June 24, 1908), the 22nd and 24th President of the United States addressing Congress during his Annual Message to Congress:
"At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuations of values; but the wage earner - the first to be injured by a depreciated currency - is practically defenseless. He relies for work upon the ventures of confident and contented capital. This failing him, his condition is without alleviation, for he can neither prey on the misfortunes of others nor hoard his labour." Stephen Grover Cleveland (March 18, 1837 – June 24, 1908), the 22nd and 24th President of the United States addressing Congress during his Annual Message to Congress.
"PARIS — As if it’s not enough that England and France are battling for Europe’s soccer championship this week — now their leaders are sniping over taxes, too.
While their teams face decisive matches in Ukraine, British Prime Minister David Cameron ignited a stir while in Mexico at the G-20 summit with a swipe at new French President Francois Hollande’s plan to raise taxes on the wealthy and large corporations to help France tackle its deficit and pay for new public spending intended to lift growth...."
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http://www.washingtonpos...9/gJQAyGqmnV_story.html
"An Italian man attempting to cross the Swiss border has had 50 kg (110 lb) of gold seized by police. The gold, worth around £1.6m (€2m), was found in a hidden compartment in his car. The businessman and his daughter, who was also in the car, have both been charged with smuggling.
The incident underlines a growing trend of Italians who are seeking to move wealth to Switzerland - funds that Italy is trying to have the Swiss authorities tax retroactively. Exports to Switzerland from the financially stricken country rose 35% year-on-year in February, with the Italian statistics office admitting it was mostly due to “sales of non-monetary gold”....."
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http://uk.news.yahoo.com...-of-gold-in-his-car.html