Poland Confiscates Half Of Private Pension Funds To Cut Sovereign Debt Load

reply to post by rayuki


pensions started as a SCAM..

employer: 'Hey guys, instead of paying you what we normally have*, we have something even better for you in mind"

worker: "ok, what is it.?"

employer: "well, if we pay you all now.. later you may be old and broke. If you let us invest part of it, You will end up getting MORE later"

worker: "so.. basically you are saying you will pay me part now... and part later?"

employer: "Yep... much later.. in like 30 or so years"

worker: "uh, idk, before we got paid enough to live now, and sock away some later. and you say you san assure me that you are better at socking money away, and I will get more.. Well sure!"

Employer: " Yeah, we will be around forever. Our company is awesome. In 40 years we will have a HUGE pile of MONEY just waiting for YOU.. wrapped in a red ribbon"
.................................

Now, it has progressed where every generation is promised less NOW and More of it LATER..

and IDIOTS believe them..

well, they are baby boomers after all.. the most gullible and docile generation ever,

manufactured by the Mind Control Nazi's/// straight up a BRAINWASHED NAZI type YOUTH..

Originally posted by HanzHenry
reply to post by rayuki

 

Now, it has progressed where every generation is promised less NOW and More of it LATER..

and IDIOTS believe them..

well, they are baby boomers after all.. the most gullible and docile generation ever,

manufactured by the Mind Control Nazi's/// straight up a BRAINWASHED NAZI type YOUTH..

Not really sure what kind of pension funds you have invested in but any of the pension funds I've seen or used whether (public or state) are chosen by the employees. True, they may have an option of investing a portion of the funds in company stock but this is a choice not a requirement. Have you ever invested in a retirement plan?

A few months ago in Canada, Harper passed a law that would allow the government to steal money from the citizens bank accounts in the event of an economic crisis. I think I remember reading that the bank accounts affected would be the ones in excess of $100 000... Although at that point, I doubt it would matter how much money you have.

reply to post by Tucket


The depositor bail-in tactic appears to be the model that's spreading across the EU and Japan as well. Poland's pension raid was over the top and look's to be a new strategy. It's been discussed in the US as well. Once governments get their hand's on pensions as well as deposits it's all over.

Originally posted by MystikMushroom
Is there any way to protect your savings? Can you setup your 401k to be managed/run from some other country?

I predict that an action like that in America could be the catalyst that sparks violent protests. They'd probably package it as, "Economic Haricut" and feed us some line about how everyone has to contribute, since it's everyone's problem. To refuse to allow them to take your personal retirement money would be spun as "un-American"

Now it makes sense why after Obamacare is fully implemented we'll have a bunch more IRS people.

Yup, coming to a USA near you soon!

Say you cant pay your fine(tax) for Obama care well just put lien on your house (take it). Wealth stolen...........legally according to them.

reply to post by Bassago


It can happen anywhere, anytime. My father works for the local university here. When he started in the late 70s, he began paying into a pension fund that promised 70% of his salary when he retired and began collecting. During one wave of cutbacks, the government decided to cut this back to 50% in order to save money. For obvious reasons, a lot of people were quite upset about this, but there was nothing they could do about it. This isn't as drastic as the Polish situation, but it's just one more example of the working class being screwed over by the government's incompetence.

Xeven
And of course this punishes those who saved instead of those who splurged. So next time you decide to buy a cheap version of something instead of the more expensive something to put away some savings...think twice. May as well own stuff instead of having them take your money later.

When TPTB came after the poor, the sick, the disabled and the low paid, took their jobs, took their benefits, took their homes, forced to work for no pay - I read many responses from the well off here on ATS shouting 'get a 2nd job, 3rd job, any crap job to provide for yourself and your families', 'work a few crappy jobs', 'go back to school', etc. No support because all this didn't affect you. I was told 'the view is great from up here'.

I can recall commenting that when they can't take any more from the lower earners and classes on the bottom rung of the ladder, they will come after YOUR money. No-one believed it. Many were confident it would never happen.

Well here we are, all up in arms because YOUR accumulated money and pensions are now in the sights of TPTB. The day you all were certain would never dawn is looming closer and closer. You thought their greed would stop after exploiting the poor? Never! They want your money now and they will TAKE it.

None shouted up in support of the poor, we were on our own. And none will shout up for the well off, because I'm afraid you're on your own too. You're gonna have to suck it up like we had to. You'll have to work a few extra jobs/hours to make it up. But that'll be easy for you because there are so many jobs available which bone-idle scroungers won't do aren't there? LMAO. Good luck with that.

Not nice is it? But get ready because it can only get worse.

See you all on the bottom rung soon guys - enjoy the view from up there whilst you still can.