Italian Banks Ordered by Govt to Withhold 20% Tax on Inbound Wire TransfersJeff Berwick But this .1% growth might not be enough to put the minds of politicians at ease. Another less reported Italian based event has taken place in the shadows The European Union and its constituent nation-states are scrambling to get all of the pieces in place before collapse. Cyprus made headlines nearly one year ago when they enacted a bail-in against savers. Ireportedlast weeks revelation of savings confiscation in Europe. One main point of each article was that this is not the end. This will only continue, and whats likely is it is coming to your nation soon. The most recent revelation of eurozone wealth confiscation: Italian banks have been ordered by the Italian government to withhold a 20% tax on all inbound wire transfers. This is retroactive to February 1. Il Sole reports, the deductions will be automatic (unless prior request for exclusion), and then it will be up to the taxpayer to prove that the money is not in the nature of compensation income.' As Zero Hedge puts it, all Italians are money launderers unless proven innocent. All that will happen is that the Italian government will over time receive less money because less money will flow into Italy. But it is essential that people look into offshoring their savings.You dont want to be caught up in the government dragnet. Italys main concern seems to be income payments in the form of bank transfers. Since the tax comes first, the Italians will face quite a battle explaining the origin of every inbound money transfer and if it is in accordance with the law.The Italian government is now viewing all money an individual receives from outside the country as income. As anyone with an iota of business experience knows, this is rarely the case. Europe has chosen a financial nuclear bomb for its continent: the overt confiscation of savings. Debilitating taxes. A government induced depression. Other continents will follow. Are you going to be burned by the fallout? That decision, for now, is yours to make. But not for long. Knowing full-well the trajectory on which the European Union finds itself, I started not only TDV Spain, but also TDV Germany. At these websites you can receive cutting edge information on The End Of The Monetary System As We Know It (TEOTMSAWKI) from european perspectives. Also, in our coming subscription newsletter, we will include the inside perspective of someone who lived in Italian but saw the writing on the wall and moved to Acapulco. Time is running out. Weve been brought to beyond the pale at the barrel of a gun. If Europeans dont get their assets into hard assets (and other alternative assets) and outside the eurozone in the next few months, they risk losing everything. Anarcho-Capitalist. Libertarian. Freedom fighter against mankinds two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder ofThe Dollar Vigilante, CEO ofTDV Media Services and host of the popular video podcast,Anarchast. Jeff is a prominent speaker at many of the worlds freedom, investment and gold conferences as well as regularly in the media including CNBC, CNN and Fox Business. 