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Author Topic: Poland Confiscates Private Pension Funds  (Read 3615 times)

Penguin

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Poland Confiscates Private Pension Funds
« on: September 06, 2013, 07:52:29 pm »
Well apparently Poland has confiscated half of the private pension funds because they are too far in debt.

http://www.zerohedge.com/news/2013-09-06/poland-confiscates-half-private-pension-funds-cut-sovereign-debt-load

Onca again a country has taken people’s private money without asking and with our compensation because they can’t manage their own money in an attempt to fix things. This trend seem to be getting more and more common.

The underlying problem in all these cases has been the government is broke because they have spent more money than they have for too long. Sound familiar? It seems to me that in many if not most of these cases it is because they can’t support their socialist programs. What was it Thatcher said? The problem with socialism is that sooner or later you run out of other people’s money.

I think that much of the western world is reaching that point. Some have already gone over that cliff. The scary thing is instead of taking a pause an reevaluating the cost vs benefits of these programs they are doubling down by taking their people’s money.

The other scary thing is we should as a country see the writing on our walls and notice our friend’s walls crumbling and go gee maybe we should fix this before it gets that bad. I don’t hear any serious discussion going on in the halls of congress though.

If anything I dare say the problem when it hits here will be far worse. A quick look by anyone rational at the numbers shows we are in a world of hurt. Some sobering numbers in case one cares to have a heart attack.

http://usdebtclock.org/

It would seem to me that our house of cards has tumbled yet for a few reasons. One, for better or worse unlike most countries where this has happened particularly in Europe, the federal reserve can create money out of thin air to loan us. Historically that only works for so long and when it catches up the results are well catastrophic. Since we fail to notice the obvious across the pond as it happens though I doubt we will grasp what happens when you try to print your way out of trouble. Two we are historically a stable country. You don’t have very many economic disasters in this country and, the ones we do have look like a picnic compared to many places in the world. Couple that with the fact that you don’t have coups and civil wars happening all the time. In fact they are rather rare in our history. Three we are the worlds reserve currency. When ever people realize though that just because the US dollar has been relatively stable for so long doesn’t mean that it always will be because of reason one we will be in big trouble.

What worries me is it can and probably will happen here.

Well any ways enough rambling for now, I just worry when I see this kind of crap happen again and again and apparently no on ever learns from it.
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    Grant

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    Re: Poland Confiscates Private Pension Funds
    « Reply #1 on: September 06, 2013, 08:20:46 pm »
      I just worry.  Lots of people blindly assume that no matter what happens "Oh yeah the government will have to trim back, but we can continue on"...

    Okay...for awhile.....But at some point something could happen...and if the government all of a sudden got told "No loans for you".....

    Can y'all imagine what would happen then?

     Lol.
    Montana"I’d say the worst part of all this is the feeling of betrayal,           but I’m betting the part where they break in here and beat us to death might be worse.”

    MTK20

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    Re: Poland Confiscates Private Pension Funds
    « Reply #2 on: September 06, 2013, 09:08:07 pm »
    This may not be entirely related, but what you were saying about the taking of citizens hard earned money and how the practice might make it to the western world. One of my professors spoke of California thinking of imposing a tax on former citizens (as in out of state) to help with their current economic problems. He said that the state would justify it by saying that the citizens who lived there during the "prosperous times" and then folded when the economy had gone south were taking advantage of the system. They stayed for the good and then left the state when it was bad. I have not done any research on this (I am a Texan and have never even seen the state before), but this seems like some pretty bad stuff if it is true.  :coffee
    Texas
    Do we forget that cops were primarily still using 6 Shot Revolvers well through the mid 80's? It wasn't until after 1986 that most departments then relented and went to autos.
    Capacity wasn't really an issue then... and honestly really it's not even an issue now.
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    Re: Poland Confiscates Private Pension Funds
    « Reply #3 on: September 06, 2013, 09:14:34 pm »
    You KNOW that the statists (of either party) are just watching this here in the US, waiting to see how much they can get away with. "These people are so rich, they've hoarded so much money, we should just take that and distribute it ... more fairly ... yesssss, my precioussssss."

    Mike
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    Chrissmitty820

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    Re: Poland Confiscates Private Pension Funds
    « Reply #4 on: September 07, 2013, 12:54:38 am »
    This may not be entirely related, but what you were saying about the taking of citizens hard earned money and how the practice might make it to the western world. One of my professors spoke of California thinking of imposing a tax on former citizens (as in out of state) to help with their current economic problems. He said that the state would justify it by saying that the citizens who lived there during the "prosperous times" and then folded when the economy had gone south were taking advantage of the system. They stayed for the good and then left the state when it was bad. I have not done any research on this (I am a Texan and have never even seen the state before), but this seems like some pretty bad stuff if it is true.  :coffee

    The 10 planks of Communism: http://en.wikipedia.org/wiki/The_Communist_Manifesto

    Abolition of property in land and application of all rents of land to public purposes.

    A heavy progressive or graduated income tax.

    Abolition of all right of inheritance.

    Confiscation of the property of all emigrants and rebels.

    Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.

    Centralisation of the means of communication and transport in the hands of the State.

    Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.

    Equal liability of all to labour. Establishment of industrial armies, especially for agriculture.

    Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equitable distribution of the population over the country.

    Free education for all children in public schools. Abolition of children's factory labour in its present form and combination of education with industrial production.[15]

    Any of that sound familiar?
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    Matthew Mayner

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    Re: Poland Confiscates Private Pension Funds
    « Reply #5 on: September 07, 2013, 04:00:30 am »
    We're getting there.  fluffing government.
    IdahoCome check out my blog for more SCI-FI and Fantasy stories. I promise you lots of explosions!

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    MTK20

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    Re: Poland Confiscates Private Pension Funds
    « Reply #6 on: September 07, 2013, 01:14:00 pm »
    We're getting there.  fluffing government.

    I believe those two words could describe most political problems we are having....perhaps it should become the new slogan for the libertarian party  >:D.
    Texas
    Do we forget that cops were primarily still using 6 Shot Revolvers well through the mid 80's? It wasn't until after 1986 that most departments then relented and went to autos.
    Capacity wasn't really an issue then... and honestly really it's not even an issue now.
    Ray Chapman, used to say that the 125-grain Magnum load’s almost magical stopping power was the only reason to load .357 instead of .38 Special +P ammunition into a fighting revolver chambered for the Magnum round. I agree. - Massad Ayoob

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    Avenger29

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    Re: Poland Confiscates Private Pension Funds
    « Reply #7 on: September 07, 2013, 01:25:04 pm »
    You KNOW that the statists (of either party) are just watching this here in the US, waiting to see how much they can get away with. "These people are so rich, they've hoarded so much money, we should just take that and distribute it ... more fairly ... yesssss, my precioussssss."

    Mike

    Why do you think we're always hearing about how evil the rich are?

    It's merely sowing the seeds of class hatred so that when the times do come for confiscation the "rich" won't have any allies. Oh, and the "deserving rich" aka people like Warren Buffet, George Soros, the politicians, etc will be exempt from the confiscations.

    And it'll be incremental. First it'll be "income above a million per year" then it'll be "income above 500k" then "income above 250k" then "income above 75k" as it progresses.

    South Carolina
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    Il Rob

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    Re: Poland Confiscates Private Pension Funds
    « Reply #8 on: September 07, 2013, 09:00:26 pm »
    I think it's inevitable the government will seize private retirement accounts. Here is an example from Democratic Party propaganda machine (aka Yahoo News and CBS News) that I read just today:

    http://finance.yahoo.com/news/study--401-k--retirement-plans-failing-most-workers-152859809.html

    Preparing the battle space. Think about it: How % of the 300+ million Americans have any money in a 401K or IRA? The grasshoppers will always vote to take the ants food. Tyranny of the majority indeed.

    Rob
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    ernien

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    Re: Poland Confiscates Private Pension Funds
    « Reply #9 on: September 07, 2013, 09:11:10 pm »
    I've been reading about this for a few years. I have had conversations with my parents about this and what are their backup plan. My dad found out how not secure pensions are when GM went bankrupt and he was white collar not union blue collar.  He is now 70 and has to work a full time job to do the things he wants to do. 

    I look at the reasons given for government control of retirement funds, "large pool of money" just sitting there. If they would actually use it to pay the debt and downsize government, it might be worth it. We all know that isn't the plan, they will use it to enslave more to the government dole, force people to give up more freedom for "security". It may come down to a small percentage of freedom minded people who eventually save the sheeple from Big Government, another reason to disarm and slander those who believe in liberty.
    ArizonaOpportunities of a lifetime, must be seized in the lifetime of the opportunity.

    Gunnguy

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    Re: Poland Confiscates Private Pension Funds
    « Reply #10 on: September 08, 2013, 08:23:56 am »
    Private, personal, ownership of real properties is a right of citizenship. You earn it, buy it, pay for it in trade goods or services, you deserve the fruits of your labor. However, if you are taxed on that real property, i.e. through a property-death-estate-inheiritance or other tax, you no longer own it. The government does. Fool yourself all you want it is a form of do gooder socialism. "But it pays for the fire-police-water-sewer-roads-welfare-bamb a lance services! Really? Like we font already pay road taxes, gas taxes, sales taxes, communications taxes, income taxes, medicaid and medicare taxes, forced social security taxes, then we have all the priveledges of paying water and sewer to the local municipality.  Some places even electric and phone belong to the local municipality and you have NO choice! Sounds like a monopoly to me.
    Put another plank in baby!!!

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