Posted on 01/29/2016 5:25:06 PM PST by blam
Tyler Durden
January 29, 2016
With Citi's chief economist proclaiming "only helicopter money can save the world now," and the Bank of England pre-empting paradropping money concerns, it appears that Australia's largest investment bank's forecast that money-drops were 12-18 months away was too conservative. While The Finns consider a "basic monthly income" for the entire population, Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of around $2500 per month, with authorities insisting that people will still want to find a job.
The plan, as The Daily Mail reports, proposed by a group of intellectuals, could make the country the first in the world to pay all of its citizens a monthly basic income regardless if they work or not. But the initiative has not gained much traction among politicians from left and right despite the fact that a referendum on it was approved by the federal government for the ballot box on June 5.
Under the proposed initiative, each adult would receive $2,500 per months, and each child would also receive 625 francs ($750) a month.
The federal government estimates the cost of the proposal at 208 billion francs ($215 billion) a year.
Around 153 billion francs ($155 bn) would have to be levied from taxes, while 55 billion francs ($60 bn) would be transferred from social insurance and social assistance spending.
(snip)
(Excerpt) Read more at zerohedge.com ...
The whole Western world, Europe first, is determined to commit suicide.
This just in, the whole world just declared itself to be swiss.
With the Muslim invasion of Europe now underway they should use that money to give each citizen $2,500 worth of a rifle, ammo, body armor, and webgear.
Bullets and bacon, folks. Bullets and bacon.
Monetary policy does not work.
You cannot print pieces of paper and have that change actual economic conditions.
So they’ll hand out X number of dollars/francs/whatever with one hand, and then take back MORE, from those who still work, with the other hand. Oh brother...that’s really gonna work.....NOT!
OMG - you simply cannot have what amounts to a welfare state AND allow hordes of leeches and interlopers to come into the country ... impossible.
If the SWISS people go for this AND allow hordes to come into their country from places like Somalia and such, that is the END of a great European nation and people.
Please - please Trump save America from this maddess!
247,695,000 adults (15+ yrs) x 2500
Peter? Is that you?
PETER SCHIFF: We're Going To Have An Economic Collapse And Negative Rates Before The Election
If done in the USA, that would cost nearly $10T per year.
Bernie Sanders for President....of Switzerland. “Free money” in every pot, and pot in every bowl.
Nuts economically -— and Just in time to pay for the Muslim islamonazi invasion and takeover of Switzerland. Appears there’s more holes in the heads of Swiss politicians these days then there is in all the cheese in Switzerland
Switzerland will give out money for EVERYONE? Unless you actually are creating wealth -- with capital improvements, material refinement (into products), and services -- how, exactly, does that work?
Sorry, that $10T is for everyone.
$7.5T per year if only given to adults.
Total federal revenue is $3.5T.
Won’t work.
Why not just hand out winning lottery tickets... to everyone!
Yay!
We are all rich!
That is not a living handout.
My sister's ex husband was Swiss. I have a bad habit of involuntarily picking up accents of people that I'm conversing with that have them, and he sounded like Arnie. I had to consciously keep it in check.
He did his time in the Swiss Army. I asked him if they had to carry American Army knives. He just matter-of-factly answered 'no', with a momentarily puzzled look.
At some point the only course of action for the Swiss citizenry will be the Mussolini solution.
x12.
The 2500 is per month. If my math is correct that would be over $6 trillion dollars. About 30% of Gross Domestic Product.
I am amazed that the Swiss are even considering this idea.
Consistently rated among the most free nations in the world with per capita income ranked very high as well.
But then I read that this was an idea of Swiss “Intellectuals” and I was not surprised.
Has to start somewhere. Besides in a year we’ll tell them that, and guilt them as to why are they so cruel and cheap to limit it to $2500 a month?
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