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All the properties or assets with legal ownership rights means the statute/court/state is the owner/controller the holder is just a beneficial/legal user or licensee
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They are saying that Direct taxes will be replaced with heavy administrative penalties
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The Four Main Types of CurrencyFiat Money: This money gets its value from a government rule and public trust. It is not backed by gold or silver. Most modern money is fiat. Commodity Money: This money uses physical items that have their own real value. Examples include gold coins, silver, or salt. Trust-Based (Fiduciary) Money: People accept this money because they trust an institution's promise to honor it. The paper or token itself is worth less than the number printed on it. Cryptocurrency: This is digital money. It uses cryptography and a decentralized network instead of a central bank.
