SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.47-0.2%Dec 5 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: 2MAR$ who wrote (82599)11/2/2011 7:57:58 PM
From: TobagoJack  Read Replies (2) of 218195
 
just in in-tray

From: S
Sent: 2011 11 2 11:33 PM
Subject: Italy

From a trader. Italy moves to confiscation...

Subject: Since I am Italian I thought I would pass along a couple thoughts

Just to give you an idea of what we are facing with regards to "news-flow" from Italy here is what the rest of the world wants to hear from Italy:

1) Pension Reform
2) Labor law reform
3) Tax Code simplification and enforcement

These are tough political pills to swallow but credible actions that would go a long way to showing Italy is trying to get its house in order.

Instead here are some of the things being proposed and talked about:

1) Patrimonial tax: a one time tax on all properties (could become all assets) - as in, a forced asset transfer between the citizens and the government.

2) A forced bank account draw: as in, the gov't seizes a percentage of all bank accounts in Italy

3) A mass amnesty: as in any illegal asset, say a hotel built in the middle of a national park without any permits or apartment buildings not built to code (2/3 of Naples rumored not to code, as in 2/3 of the whole city of 1 million plus people) would become "legal" if you pay the government a small tax. The amnesty could also include illegal offshore money deposits.

Bottom line - the people of Italy don't trust their government so anything they will propose will cause a massive uproar, but the stupid draconian proposals in the papers today will not only piss Italians off but will also do NOTHING to appease foreign worries...
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News