Igor's call, in full

Europe is building walls to keep wealth in. I call it the velvet wall. East Germany poured concrete; Europe pours tax code, and it works just as well. I forecast that within 24 months, at least three more European states adopt or widen exit taxes, and the UK brings back its settling-up charge in softer language. The window to leave Europe cleanly is closing, and it closes fastest for founders holding illiquid equity. The infrastructure is already there. Norway hits departing residents with up to 37.8 percent on unrealized gains. Germany's exit tax runs to roughly 28.5 percent and now reaches fund holdings over 500,000 euros. The Netherlands taxes 36 percent on unrealized gains. Eight of the 27 EU member states already keep an explicit exit tax on the books. The playbook is tax-and-trap: scare the wealthy until they run, bill them on the way through the door, then bolt it before the rest wake up.

Adjacent calls

By 2027, the gulf and the US absorb the bulk of europe's departing founders and family offices, and the capital does not return even if the taxes reverse.Early callThe largest wealth migration on record accelerates to 200,000 millionaires a year by 2028, eu-driven.Early callBy 2029, the digital euro turns your money into programmable, surveillable, conditional credit.Early call

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