BOMBSHELL: Trump's economic chief just revealed plans to TAX foreign holdings of US financial assets. Hidden in plain sight.
Miran outlined 5 forms of "burden sharing" for countries benefiting from the US dollar reserve system:
Four of these deal with reducing trade surpluses (more US exports, less US imports, etc.) - essentially reducing their net accumulation of US financial assets.
But the 5th proposal is the bombshell: Countries "could simply write checks to Treasury that help us finance global public goods."
Translation: You can keep holding US Treasuries and dollar financial assets, but you'll now pay a tax for the privilege.
It's now almost a slam dunk that the administration's upcoming tax bill (likely in May) will include a provision bringing back the 30% foreign withholding tax on interest income that was eliminated in 1984.
We predicted exactly this move in our ‘Dollar’s Dilemma’ and ‘Sovereign Wealth Effect’ reports published in Dec and Feb. Full analysis here
https://medium.com/@mcnai002/the-sovereign-wealth-effect-americas-new-tool-for-rebalancing-the-global-trading-system-363176816035
