Dan...
There was a Fed paper that recommended that very solution (tax all savings and cash) as a remedy for deflation. It is hard to believe it could happen, but who knows what radical measures might be tried.
Personally, I think one big beneficiary of such a hair-brained scheme would be gold.
It is quite obvious that such is not the case this morning though, as they are pounding gold even though there is just modest strength in the $USD. It looks like the COTs commercials were right again, but it seems very clear that the fix was in - with the $USD stable I can find zero rational reason behind the move.
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