Poland Confiscates Half Of Private Pension Funds To "Cut" Sovereign Debt Load
"While the world was glued to the developments in the Mediterranean in the past week, Poland took a page straight out of Rahm Emanuel's playbook and in order to not let a crisis go to waste, announced quietly that it would transfer to the state - i.e., confiscate - the bulk of assets owned by the country's private pension funds"
7 comments:
If some Gubmint Asshat stole my pension money, I would kill them. I think a Jury of my peers (who also had their pensions stolen) would likely find me Not Guilty.
You better believe it. And they're going to try the Cyprus-style "bail-in".....swiping money directly from people's bank accounts. It's completely legal for the government to do this now, you know.
Late last year, and earlier this year, the Fed, and other banking institutions in the US all agreed to "bail in", and confiscate bonds and private pension funds, if needed, when the time comes, here. That means checking and savings accounts too. They have the complete complicity of Congress as well. Not that there's anything wrong with that. Keep in mind, that in Cyprus, they kept people from withdrawing funds early, to avoid losing their money by A: Not telling the public in advance of the grab, but they did tell their inside the loop friends, and B:Calming fears by telling the lie that only 10-30% of bank deposits would be needed, as opposed to the 90% grab they actually made, with the remaining 10% "frozen", ie, only able to be with drawn at a rate of 300 euros a month, and non-transferable out of the country. In a country that if you get a little too friendly with some ones daughter, they knife you, that was quite a leap. In the US, what do you think the lie will be?
Surprised...? Nope, the folks
in power here have already
admited they look to the
Cyprus confiscations of
deposits as a model. To
think your money is safe
in the local "to big to
fail" bank is...naive. As
they say..a fool and his
money are soon parted.
They already have plans to do that here. Good bye 401k, Hello Social Security. What? Still not enough for Social Security? No problem, just have a "temporary" reduction in the Social Security checks.
The U.S. government will not "try" to take private pension funds; they will do it. It is the last major money bin in the country. I am curiously awaiting the government's spin that will necessarily accompany this massive theft. I foresee a massive use of force and threats of force, against the public, for anyone standing against this rape of private funds. Unfortunately for the government thieves, if they are allowed to get away with it, it will only be kicking the can down the road. They will piss the new found wealth away, just as they have always done.
Kill everyone involved with the theft, pure and simple. From whoever issued and signed off on the order to all who made it happen.
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