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cashinmattress

Poland Confiscate Bond Holdings From Private Pension Funds

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While everyone is paying attention to Russia, the European economy continues to spiral downward into its Debt-Deflation, and the rising cost of debt to EU members in real international terms is alarming.

Poland on Wednesday confiscated all bond holdings of private pension funds.

This will be booked on their balance sheet to reduce their debt to GDP ratio by as much as 8%.

This is actually being discussed as I have reported in Europe and the USA. Most will follow that same course and fail to realize that government CONSUMES national wealth – it does not create it.

This is part of the deflationary cycle we are in and WHY I have stated there is ZERO chance of hyperinflation.

Governments are confiscating wealth – not printing their way out of anything.

Well, from the first inklings of this last September; Poland Confiscates Half Of Private Pension Funds To "Cut" Sovereign Debt Load

Shows you can't trust any government.

Europe is fvcked. So then is Britain, but where is its place in the queue?

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Numero Uno.

Some proper old school Italia House.

Good to see everyone is being bailed in to bailout the bankers. We can't have the bankers being impoverished after all they provide essential services to the economy.

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'consficated'? What's the difference between that and 'stole'? :blink:

As far as I can see this is a move away from a failed public-private hybrid pension, so neither confiscated or stole would be very accurate.

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As far as I can see this is a move away from a failed public-private hybrid pension, so neither confiscated or stole would be very accurate.

:blink:

If they took the money then it seems to me 'stole' is appropriate. I have always thought that consfication meant stealing by someone in authority who can get away with it.

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:blink:

If they took the money then it seems to me 'stole' is appropriate. I have always thought that consfication meant stealing by someone in authority who can get away with it.

Confiscating at school usually meant that you would get it back either at the end of the week or the term.

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