There’s a turf war going on (from GoldSeek.com) -one that threatens the entire economic and political landscape of the planet. This turf war is between hard working savers and ever greedy criminal bankers in bed with the government.
Since all banks entrust their wealth to paper vehicles (stocks, bonds, etc.), it’s all at risk. Politicians worldwide have promised benefits they can no longer deliver creating huge national debts. The most recent signs:
- Oct 2008 – Argentina’s leftist govt faced with huge revenue shortfalls nationalized all private pensions to avoid its 2nd default of the decade.
- Nov 2010 – Hungary issues ultimatum: move your private pension funds to the State or permanently lose your pension.
- Nov 2010 – Ireland robbed its National Pension Reserve Fund to pay for an €85 billion bank bailout
- Dec 2010 – France transferred €205 billion from it’s funded portion of its retirement system to help pay recurring social benefits costs and has since instituted a 75% tax on the “rich”.
- April 2010 – US Treasury Chief Tim (tax-cheat) Geithner unilaterally appropriated $45 billion from US federal pension funds to help tide over US deficits.
- Nov 2012 – US Congress held hearings on a government take-over of personal retirement accounts ~it will first be voluntary (with guaranteed returns) under the guise of protecting consumers, and later be mandatory.
- Jan 2013 – Geithner again borrows from the federal employees pension fund ($156 billion) to keep operating without passing the fiscal cliff debt limit.
- March 2013 – Open Bank Resolution finance minister is currently proposing a Cyprus-style (outright theft!) solution for potential New Zealand bank failures.
Savers Beware!! Will savvy investors head for the mattresses to protect their retirements and life savings???
Aloha, Mikie ~just a blogger (fightin’ like a girl)