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“Hungary, Poland, and three other nations take over citizens’ pension money to make up government budget shortfalls. The article goes on to detail other pension grabs in Bulgaria, Poland, France and Ireland. Obviously, this is a cautionary tale for America. If fiscal austerity becomes a real issue in the U.S. the way that it’s been reaching critical mass in Europe — don’t think that U.S. lawmakers regard your either your personal wealth or money they might owe you as sacrosanct.”
Nationalization of pensions are part of the globalist agenda to transfer wealth from the middle class to the wealthy owners of the banks.
This is how it works: they will get as many as they can to pay into your plan, wait a few years, then stage a economic crisis that devalues the dollar (which they control) which will devalue your so-called ‘safe’ pension.
Then they will state that, due to the economic situation (which the banksters control) the ‘plan’ cannot support all of those who need to use it. Many will be cut off just as they are about to retire, they will state that people need to work longer in order to make up the shortfall, thereby extended your working life well into the 70s, or lastly they will nationalize what you thought was a private pension plan into a national one like what was done in Argentina in 2008, and Europe just a few days ago.
It suits the profitability of this plan (to the controllers of the plan) to actually pay out as little as possible. To do this it is in their best interest to get us, the contributors, to work as long as possible and spend as few years as possible in retirement so that they have to pay out less of the contributors money, OR conversely it suits them to ensure that as many people as possible do not qualify for the payouts via stringent regulations that for some reason you will not be told about when you enroll in this ‘perfect plan’.
We are only ‘little people’ to the bankers who will be in charge of this plan. A ‘working force’ that must be controlled and as much as possible gotten ‘out of us’ before we retire and go off to chase our own interests. The government is already talking about moving the ‘mandatory retirement age’ up to 75. This was in the news last week.
Make sure your savings are in your name and you are not part of some ‘pooled’ plan because as soon as your money goes into a ‘pooled’ plan it is no longer YOUR money, it belongs to the controllers of the plan — the banks!
Europe starts confiscating private pension funds by Christian Science Monitor
People’s retirement savings are a convenient source of revenue for governments that don’t want to reduce spending or make privatizations. As most pension schemes in Europe are organised by the state, European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this money for their own ends. In recent weeks I have noted five such attempts: Three situations concern private personal savings; two others refer to national funds.
The most striking example is Hungary, where last month the government made the citizens an offer they could not refuse. They could either remit their individual retirement savings to the state, or lose the right to the basic state pension (but still have an obligation to pay contributions for it). In this extortionate way, the government wants to gain control over $14bn of individual retirement savings.
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