{"id":36305,"date":"2018-07-31T07:54:07","date_gmt":"2018-07-31T12:54:07","guid":{"rendered":"http:\/\/olduvai.ca\/?p=36305"},"modified":"2018-07-31T07:54:07","modified_gmt":"2018-07-31T12:54:07","slug":"italy-the-coming-revolution-euro-crisis-for-2021","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=36305","title":{"rendered":"Italy \u2013 the Coming Revolution & Euro Crisis for 2021?"},"content":{"rendered":"
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Italy \u2013 the Coming Revolution & Euro Crisis for 2021?<\/a><\/h3>\n<\/div>\n
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QUESTION:<\/strong> Mr. Armstrong, you obviously have a database on Italy that is without comparison. Nobody else even had a chart on the Italian lira you recently published on the blog. I know you are well aware of the revolutions in Italy and the history. I was wondering do you have any forecast for the next revolution? It seems that the five-star movement may perhaps be the beginning. Any hint about the future?<\/p>\n

VDM<\/p>\n

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ANSWER:<\/strong> Well to give you a target year where it can begin will be 2021. The Five-Star Movement is indeed the prelude. However, the attempt to stay in the Eurozone will be the undoing of Italy. The most threatening issue in Italy that will lead to revolution is most likely an attempt to raise inheritance taxes as being suggested by Brussels.<\/p>\n

Culturally, Italy has the lowest inheritance tax\u00a0in all of Europe. The\u00a0German inheritance tax rates<\/b>\u00a0range from 17% to 50%, depending on your relationship to the decedent. In\u00a0Italy, the\u00a0Italian Inheritance Tax (Imposta <\/strong>sulle Successioni<\/strong>)<\/strong><\/em> is applied to all the assets worldwide belonging to the deceased if the person is a resident of Italy ONLY<\/strong>. If the person lives outside of Italy, then the tax is applied ONLY to assets in Italy. Where everyone else has generally inheritance taxes of 15% or higher for the immediate family, Italy that rate is just 4%. Here is the breakdown:<\/p>\n