In the case of both Poland and Hungary a 'bank tax' is imposed.
European nations begin seizing private pensions
- Thread starter Tom B
- Start date
In the case of both Poland and Hungary a 'bank tax' is imposed.
In a private pension plan, you invest in U.S. government Treasury bonds. The government spends the money it gets from selling these bonds on the Military industrial complex (MIC), and some of the profits of the MIC are returned to politicians in the form of campaign contributions. The return on the bonds is less than inflation, as the government has to expand the money supply to to pay off the bonds. In this way the government confiscates a portion of your private funds and uses them to support the MIC.
In a 401K plan, the plan invests in U.S. government Treasury bonds. The government spends the money it gets from selling these bonds on the Military industrial complex (MIC), and some of the profits of the MIC are returned to politicians in the form of campaign contributions. The return on the bonds is less than inflation, as the government has to expand the money supply to to pay off the bonds. In this way the government confiscates a portion of your 401K funds and uses them to support the MIC.
Similarly, in Social Security, the Trust Fund is invested in U.S. government Treasury bonds. The government spends the money it gets from selling these bonds on the Military industrial complex (MIC), and some of the profits of the MIC are returned to politicians in the form of campaign contributions. The return on the bonds is less than inflation, as the government has to expand the money supply to to pay off the bonds. In this way the government confiscates portion of your Social Security funds and uses them to support the MIC.
Quote from piezoe:
In a private pension plan, you invest in U.S. government Treasury bonds. The government spends the money it gets from selling these bonds on the Military industrial complex (MIC), and some of the profits of the MIC are returned to politicians in the form of campaign contributions. The return on the bonds is less than inflation, as the government has to expand the money supply to to pay off the bonds. In this way the government confiscates a portion of your private funds and uses them to support the MIC.
In a 401K plan, the plan invests in U.S. government Treasury bonds. The government spends the money it gets from selling these bonds on the Military industrial complex (MIC), and some of the profits of the MIC are returned to politicians in the form of campaign contributions. The return on the bonds is less than inflation, as the government has to expand the money supply to to pay off the bonds. In this way the government confiscates a portion of your 401K funds and uses them to support the MIC.
Similarly, in Social Security, the Trust Fund is invested in U.S. government Treasury bonds. The government spends the money it gets from selling these bonds on the Military industrial complex (MIC), and some of the profits of the MIC are returned to politicians in the form of campaign contributions. The return on the bonds is less than inflation, as the government has to expand the money supply to to pay off the bonds. In this way the government confiscates portion of your Social Security funds and uses them to support the MIC.
I believe the bonds in the SS Trust Fund are not USTs... I forget the fancy name for the IOUs, but I believe its something other than Treasuries.
I never understood the concept of pension. People are born as kids and they are taken care of by parents. They start working and save and invest, and these savings ought to be there for them when they retire. Simple as that.
Why do we have governments and employers meddling in this affair. We all need to take care of ourselves.
Why do we have governments and employers meddling in this affair. We all need to take care of ourselves.
From wikipedia:
"Unlike a typical private pension plan, the Social Security Trust Fund does not hold any marketable assets to secure workers' paid-in contributions. Instead, it holds non-negotiable United States Treasury bonds and U.S. securities backed "by the full faith and credit of the government". The Office of Management and Budget has described the distinction as follows:
These [Trust Fund] balances are available to finance future benefit payments and other Trust Fund expenditures â but only in a bookkeeping sense.... They do not consist of real economic assets that can be drawn down in the future to fund benefits. Instead, they are claims on the Treasury that, when redeemed, will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. The existence of large Trust Fund balances, therefore, does not, by itself, have any impact on the Governmentâs ability to pay benefits. (from FY 2000 Budget, Analytical Perspectives, p. 337)
Other public officials have argued that the trust funds do have financial and/or moral value. "If one believes that the trust fund assets are worthless," argued former Representative Bill Archer, then similar reasoning implies that âAmericans who have bought EE savings bonds should go home and burn them because theyâre worthless because the money has already been spent.â[7] At a Senate hearing in July 2001, Federal Reserve Chairman Alan Greenspan was asked whether the trust fund investments are ârealâ or merely an accounting device. He responded, âThe crucial question: Are they ultimate claims on real resources? And the answer is yes.â [8]
So yes, the Trust Fund holds US Treasury bonds "backed by the full faith and credit of [you and me]."
Also note that..." when redeemed, [these bonds] will have to be financed by raising taxes, borrowing from the public, or reducing benefits or other expenditures. " Which is the same for all U.S. Treasury bonds whether sold to China or the U.S. Social Security Trust fund.
First, those are "Progressive" countries.....that were, at one time ruled under Socialism....and that Socialism is still strong in their very fabric.
If we did not have the revolution that we did in Nov, with the OBAMA agenda and Progressives in this country kicked outa power, for the most part, I would say that we could see such a move.
Now, I doubt the US GOV. will seize any pensions. They will not bail them out but they will not seize them.
Socialism is returning to many of the countries that broke away from the grips of that destructive idea.
Socialism tried to take this country but failed. The ideaology will fight to try and take over the US, with Progressives who have not yet woke up but they will get no where. 2012 is only a year away and OBAMA will have to move to the center as Clinton did. That will not quarentee OBAMA re-election but he will not risk anymore Socialist moves. HE IS DEAD IN THE WATER WITH HIS PROGRESSIVE IDEAS.
Liberals in this country have been set back decades. They will never controll the US GOV like they did in the last two years for 40 to 50 years. Game over for them. This is not the first time the Liberals have been in this position.
So, I wouldn't worry about European style of Seize on your 401ks.
If we did not have the revolution that we did in Nov, with the OBAMA agenda and Progressives in this country kicked outa power, for the most part, I would say that we could see such a move.
Now, I doubt the US GOV. will seize any pensions. They will not bail them out but they will not seize them.
Socialism is returning to many of the countries that broke away from the grips of that destructive idea.
Socialism tried to take this country but failed. The ideaology will fight to try and take over the US, with Progressives who have not yet woke up but they will get no where. 2012 is only a year away and OBAMA will have to move to the center as Clinton did. That will not quarentee OBAMA re-election but he will not risk anymore Socialist moves. HE IS DEAD IN THE WATER WITH HIS PROGRESSIVE IDEAS.
Liberals in this country have been set back decades. They will never controll the US GOV like they did in the last two years for 40 to 50 years. Game over for them. This is not the first time the Liberals have been in this position.
So, I wouldn't worry about European style of Seize on your 401ks.
What is interesting to note is the location of the pension seizures. They are not from a certain nation and only the outlying EU countries are mostly affected. Is there some kind of bais in the EU system?
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