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Posted: 9/6/2013 2:19:40 PM EDT
http://www.zerohedge.com/news/2013-09-06/poland-confiscates-half-private-pension-funds-cut-sovereign-debt-load





TL,DR






  1. Government has too much debt to issue more debt


  2. Government nationalizes private pension funds making their debt holdings an "asset" and commingles with other public assets


  3. New confiscated assets net out sovereign debt liability, lowering the debt/GDP ratio


  4. Debt/GDP drops below threshold, government can issue more sovereign debt




 
Link Posted: 9/6/2013 2:20:11 PM EDT
Coming soon
Link Posted: 9/6/2013 2:20:37 PM EDT
Just a matter of time...
Link Posted: 9/6/2013 2:22:06 PM EDT
Awesome.

Posted Via AR15.Com Mobile
Link Posted: 9/6/2013 2:23:29 PM EDT
Typical leftist " Those Europeans are so smart.  I wish America was more like Europe "


owe-bunghole might do this to pay for his war against Syria.
Link Posted: 9/6/2013 2:24:04 PM EDT
Obamas plan for something similar will come out somewhere in the middle of a cruise missile salvo, and be quietly overlooked by the media.

Posted Via AR15.Com Mobile
Link Posted: 9/6/2013 2:24:09 PM EDT
Wait for it . . . .
Link Posted: 9/6/2013 2:24:10 PM EDT
I guess communism is a hard habit to break.
Link Posted: 9/6/2013 2:27:49 PM EDT


Discussion ForumsJump to Quoted PostQuote History
Quoted:

I guess communism is a hard habit to break.
View Quote


Link Posted: 9/6/2013 2:32:02 PM EDT
Link Posted: 9/6/2013 2:36:02 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Just a matter of time...
View Quote


Yes.  And maybe less time than we think.

Then again, what did we expect would happen?  The government spends far more than it takes in, it believes that it has unlimited powers over the people, and it is militarizing virtually every internal department.

It's inevitable in one form or another.

Link Posted: 9/6/2013 2:40:40 PM EDT
It's this or the billion dollar coin.
Link Posted: 9/6/2013 2:42:14 PM EDT
This doesn't surprise me. The Poles have been living on borrowed funds ever since the fall of the Iron Curtain.
Link Posted: 9/6/2013 2:42:14 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Coming soon
View Quote



F'in A...Mark my words..."when that day comes, I will cash in"
Link Posted: 9/6/2013 2:43:13 PM EDT
Poles get the shaft.
Link Posted: 9/6/2013 2:43:52 PM EDT
FPNI
Link Posted: 9/6/2013 2:45:08 PM EDT
That makes me sick to my stomach.
Link Posted: 9/6/2013 2:47:23 PM EDT
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Quoted:
Poles get the shaft.
View Quote


Ok, I laughed.
Link Posted: 9/6/2013 2:47:46 PM EDT
Shit like that is truly cause for the shooting to begin. Sad to see this happen in Poland.
Link Posted: 9/6/2013 2:48:59 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Obamas plan for something similar will come out somewhere in the middle of a cruise missile salvo, and be quietly overlooked by the media.

Posted Via AR15.Com Mobile
View Quote

And it'll come out on Black Friday.
Link Posted: 9/6/2013 2:49:55 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Coming soon
View Quote

Link Posted: 9/6/2013 2:51:08 PM EDT
Of course, this could never happen here.

Our Socialists are different from their Socialists.

Right, knuckleheads?
Link Posted: 9/6/2013 2:54:50 PM EDT
I for one, have complete faith in Ben Bernanke.
Link Posted: 9/6/2013 2:56:41 PM EDT
Very large groups of people are appealing targets for terrorism, and should be avoided whenever possible.

Very large groups of money are appealing targets for theft... government sponsored or otherwise.
Link Posted: 9/6/2013 2:59:40 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Shit like that is truly cause for the shooting to begin. Sad to see this happen in Poland.
View Quote


You speak the truth pal.
Link Posted: 9/6/2013 3:02:38 PM EDT
Sad state of affairs.
Link Posted: 9/6/2013 3:04:10 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Of course, this could never happen here.

Our Socialists are different from their Socialists.

Right, knuckleheads?
View Quote


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.
Link Posted: 9/6/2013 3:06:18 PM EDT
It's already happening here.



I believe it's the CT state employee pension funds. They are being reduced arbitrarily because the state doesn't have enough money coming in to fund its obligations.
Link Posted: 9/6/2013 3:08:54 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Of course, this could never happen here.

Our Socialists are different from their Socialists.

Right, knuckleheads?


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.



This...
Link Posted: 9/6/2013 3:10:19 PM EDT
I feel as if I'm looking into a crystal ball, seeing the future for somebody.
Link Posted: 9/6/2013 3:11:34 PM EDT


Discussion ForumsJump to Quoted PostQuote History
Quoted:

Typical leftist " Those Europeans are so smart. I wish America was more like Europe "





owe-bunghole might do this to pay for his war against Syria.
View Quote


naw, he said he's selling all the dope to pay for it.
Link Posted: 9/6/2013 3:12:21 PM EDT
Link Posted: 9/6/2013 3:17:14 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:



F'in A...Mark my words..."when that day comes, I will cash in"
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Coming soon



F'in A...Mark my words..."when that day comes, I will cash in"


Better go brushup on the Greece thing.

By the time GQ Public got wind of it, they had already restricted their ability to move assets and withdraw money.
They still have this restrictions.

You might want to cash out now.

Link Posted: 9/6/2013 3:18:43 PM EDT



FPNI



Link Posted: 9/6/2013 3:19:54 PM EDT
Billary already tried that here with 401k's, a one time tax on all tax exempt deposit retirement accounts.

Don't think she's gonna try again?
Link Posted: 9/6/2013 3:20:03 PM EDT
Link Posted: 9/6/2013 3:20:08 PM EDT
Wheat Harvest
Link Posted: 9/6/2013 3:30:07 PM EDT
The 'test case' was Cyprus and everyone (at least those government types with the accompanying media types) said something like, this will only happen here (Cyprus) - right .....................
Once a proven concept (which it is), is now possible to justify doing it anywhere given there are no 'laws' to prevent the confiscation - I mean reallocation - no, I mean theft - no, not right: probably mean restructuring of assets - shit, I know what I mean but do not have the words for it ..................
My personal 'action plan' is to pull my money out of an existing 401K plan I have and 'reallocate' the funds in prep items for our family.  Take that Team Fed
Link Posted: 9/6/2013 3:30:38 PM EDT


I would like to think the American people are better armed and would self-correct this issue.



When everything is taken from you, you find there is nothing left to lose......



Link Posted: 9/6/2013 3:34:05 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I would like to think the American people are better armed and would self-correct this issue.

When everything is taken from you, you find there is nothing left to lose......


View Quote


You might not have noticed, but the Feds have implemented a nation wide, all encompassing PROPAGANDA machine that will paint you (and all us disassociated fans) as the Bad Guy(tm) .

See everything will only be taken from some 37%.  The elites will escape, and the FSA have nothing.

Cool huh?
Link Posted: 9/6/2013 3:46:54 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Of course, this could never happen here.

Our Socialists are different from their Socialists.

Right, knuckleheads?


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.

There doing that now and have been for at least a year.
Link Posted: 9/6/2013 3:53:01 PM EDT
but it could never happen here, so
Link Posted: 9/9/2013 5:10:21 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I would like to think the American people are better armed and would self-correct this issue.

When everything is taken from you, you find there is nothing left to lose......


View Quote


I believe I would handle this the same way I would handle a thief in my house.
Link Posted: 9/9/2013 5:22:44 AM EDT
http://www.thenewamerican.com/economy/markets/item/14813-panic-grips-europe-as-cyprus-eu-and-imf-confiscate-savings




Panic Grips Europe as Cyprus, EU, and IMF Confiscate Savings








Panic-stricken bank depositors in Cyprus emptied ATM machines across the
nation after the surprise announcement Saturday that, as part of an
extremely controversial European Union and International Monetary Fund
bailout deal, authorities would seize up to 15 percent of all savings
deposited in Cypriot banks. Markets across Europe plunged as fears of
contagion or even a large-scale bank run in the region plagued
investors, with the single euro currency falling to multi-month lows and
gold rising back above $1,600 following news of the $13 billion scheme.



------------------------



Across the EU, however, the brazen confiscation of hard-earned savings
was met with a mixture of seething anger and outright terror — fury over
the confiscation of wealth that has already been taxed, and fear that
similar plots could be hatched in countries such as Greece, Italy,
Spain, Portugal, or even in Northern Europe. Top officials have declined
to say whether the "tax” on deposits could be forced on other nations,
too.  



On Saturday, euro-area ministers group President Jeroen Dijsselbloem, for example, refused
to rule out similar "taxes” — critics are calling it outright theft —
in other nations with governments drowning in debt. He did say, however,
that such "taxation” schemes were not currently being considered beyond
Cyprus, at least not yet.



---------------------------



In Cyprus, citizens reacted with disbelief as protesters gathered in
front of the presidential palace while outraged victims of the scheme
sought to smash their way into shuttered banks. "They shouldn’t touch
the deposits. They’re just killing the people,” an unemployed
construction worker named Miltiades Papamiltiades, 58, told the English-language Cyprus Mail. "No-one will ever deposit money again into the banks on the island. It is the end of our economy.”

View Quote





Link Posted: 9/9/2013 5:26:12 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Of course, this could never happen here.

Our Socialists are different from their Socialists.

Right, knuckleheads?


Your government will most likely devalue the USD. It's more sneaky, but the end result is the same.


It's confiscated via inflation.  When the treasury prints money it gets the full value.  By the time it cycles
down to us the currency is worth less.
Link Posted: 9/9/2013 5:29:32 AM EDT
It is important to note that the gov would most likely paint anyone with retirement funds as "rich."  Then, they will just take it.

When Obama was elected, I was working in a decent size firm.  Several of your high net worth clients indicated they were going to cash out their retirement plans.  One of the big partners at the firm, an Obama supported, said they were all crazy, nut job right wingers (not to their faces, mind you.)  

That same partner cut me loose after things got really slow at the firm.  I did not support leftists during that time, and she didn't like it. It's ok though, that vindictive move put me in a better, higher paying position somewhere else.
Link Posted: 9/9/2013 5:30:39 AM EDT

Discussion ForumsJump to Quoted PostQuote History
Quoted:


I for one, have complete faith in Ben Bernanke.
View Quote
I would have more faith in him if he was hanging from a gibbet.

 
Link Posted: 9/9/2013 5:30:59 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Of course, this could never happen here.

Our Socialists are different from their Socialists.

Right, knuckleheads?
View Quote


Is the Polish government leftist?
Didn't Civic Platform and the Polish People's Party form a majority coalition government in 2007? Both those parties are Christian democratic (centre-right).

I haven't kept up with recent developments so I could be wrong.
Link Posted: 9/9/2013 5:35:45 AM EDT
And people wonder why I don't want to open a retirement account.
Link Posted: 9/9/2013 5:37:26 AM EDT
You can only control that which only you are in control of.
Link Posted: 9/9/2013 5:38:56 AM EDT
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