Poland Confiscates Half Of Private Pension Funds To Cut Sovereign Debt

Discussion in 'Markets & Economies' started by House, Sep 7, 2013.

Page 1 of 2
  1. House

    House Well-Known Member Silver Stacker

    Joined:
    May 1, 2012
    Messages:
    9,527
    Likes Received:
    287
    Trophy Points:
    83
    Location:
    Stack City
    Uh oh...

    Reuters and ZH
     
    House, Sep 7, 2013
    #1
  2. Old Codger

    Old Codger Active Member Silver Stacker

    Joined:
    May 13, 2011
    Messages:
    4,782
    Likes Received:
    5
    Trophy Points:
    38
    Beware Australia, THIS can happen to YOU!

    ....and probably will.


    OC
     
    Old Codger, Sep 7, 2013
    #2
  3. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    SMSF all the way baby. Snatch and run
     
    Caput Lupinum, Sep 7, 2013
    #3
  4. Old Codger

    Old Codger Active Member Silver Stacker

    Joined:
    May 13, 2011
    Messages:
    4,782
    Likes Received:
    5
    Trophy Points:
    38
    NEVER, EVER, trust the Government!

    Believe the worst of them, and act accordingly.


    JMO


    OC
     
    Old Codger, Sep 7, 2013
    #4
  5. Eruaran

    Eruaran Member

    Joined:
    Aug 13, 2012
    Messages:
    678
    Likes Received:
    7
    Trophy Points:
    18
    Location:
    Australia
    There's a lot of dollars in Australian superannuation funds...
     
    Eruaran, Sep 7, 2013
    #5
  6. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,653
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern

    But surely that couldn't happen now that the Liberal party is in charge.
     
    trew, Sep 7, 2013
    #6
  7. boston

    boston Well-Known Member Silver Stacker

    Joined:
    Jul 7, 2009
    Messages:
    3,857
    Likes Received:
    24
    Trophy Points:
    48
    Location:
    Australia
    Legislation already passed.
     
    boston, Sep 7, 2013
    #7
  8. errol43

    errol43 New Member Silver Stacker

    Joined:
    Apr 13, 2010
    Messages:
    5,993
    Likes Received:
    15
    Trophy Points:
    3
    Location:
    Bundaberg
    At last more and more info is coming about the dangers of derivatives.. Much worse than Fractional Reserve Banking..

    Bankers playing Monopoly with only the bankers getting free money to bet, no one goes to jail and collect with all money returned if you loose.

    The only ? everyone doesn't know, is when? surely it will happen soon? One of the big banks go down and down go the rest. Thanks to the greed of derivatives.

    Regards Errol 43
     
    errol43, Sep 7, 2013
    #8
  9. Cinvalo

    Cinvalo Member

    Joined:
    Mar 19, 2010
    Messages:
    643
    Likes Received:
    18
    Trophy Points:
    18
    Location:
    NSW
    House always have something good to share ;)
     
    Cinvalo, Sep 7, 2013
    #9
  10. C.H.

    C.H. Active Member Silver Stacker

    Joined:
    Nov 18, 2012
    Messages:
    470
    Likes Received:
    88
    Trophy Points:
    28
    Location:
    Gosford NSW
    "The problem with socialism is that eventually you run out of other people's money [to spend]." Margaret Thatcher

    One of the actual quotes is: "...and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people's money. It's quite a characteristic of them."

    I firmly believe that Poland's scenario will play out around the World in not that distant future. That's why if you think you're going to retire even on your own super - think again.
    Physical - all the way!
     
    C.H., Sep 8, 2013
    #10
  11. tozak

    tozak Well-Known Member Silver Stacker

    Joined:
    May 6, 2011
    Messages:
    1,960
    Likes Received:
    81
    Trophy Points:
    48
    Location:
    Australia
    All Super Funds in Australia will be subject to upcoming new regulations requiring at first 10% be placed into "Safe Access Class" i.e. government bonds, then later 20%, 30%, 40%......... all the way to finally 100%

    Why do you think the government is giving the public a bonus of "higher Superannuation rates" they are going to steal it all anyway.
     
    tozak, Sep 8, 2013
    #11
  12. boston

    boston Well-Known Member Silver Stacker

    Joined:
    Jul 7, 2009
    Messages:
    3,857
    Likes Received:
    24
    Trophy Points:
    48
    Location:
    Australia
    Do you have a link for this?
     
    boston, Sep 8, 2013
    #12
  13. Byron

    Byron Guest

    There's no guarantee that they won't go after SMSf as well in some way or another.
     
    Byron, Sep 8, 2013
    #13
  14. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    I intend on leaving an IOU at the bottom of the safety deposit box. It's as good as a government bond
     
    Caput Lupinum, Sep 8, 2013
    #14
  15. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    Quite reasonable:
    http://en.wikipedia.org/wiki/Promissory_note
     
    JulieW, Sep 8, 2013
    #15
  16. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    tbh I would have just drawn a cock and balls. I don't how that would stand up to legal scrutiny
     
    Caput Lupinum, Sep 8, 2013
    #16
  17. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
    I really can see some future Australian government doing something similar to this. Maybe not direct confiscation (except for the occasional levy to deal with some emergency or other), but certainly a specified percentage to be invested in a mandated government project or fund.
     
    SpacePete, Apr 9, 2015
    #17
  18. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,995
    Likes Received:
    6,705
    Trophy Points:
    113
    Location:
    Sydney
    They can set a precedent by issuing say a "Cyclone Bond" that all Super funds must invest 5% of their assets or some such figure. Once the idea has legs they find other projects like roads, rail or other infrastructure to create "Bonds" around whilst they use taxpayer funds to pay down debt. Each "Bond" would be legitimate and reasonable to the general public, but in effect "death by a thousand cuts".
     
    sammysilver, Apr 9, 2015
    #18
  19. Miloman

    Miloman Active Member Silver Stacker

    Joined:
    Feb 21, 2013
    Messages:
    1,467
    Likes Received:
    1
    Trophy Points:
    38
    Location:
    Sydney, Australia

    Be careful silverpete will post an article about how you are vexatious towards the entire government, police, ATO and courts!

    In the article you will be described as an "known anarchist" and a "fringe member of society". There will be lots of bold and red highlights too.

    Silverpete will then go on to describe you as "dangerous menace" that is too free thinking and should be immediately placed into a re-education camp.

    Then go on to say that he's part of the community of opposition towards the system. Too funny :p
     
    Miloman, Apr 9, 2015
    #19
  20. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
    Actually, SilverPete posted an article covering the fact that someone had been declared a Vexatious Litigant by the NSW courts and had been jailed for attacking a judge with bags of paint.

    Apparently this was a trigger for Miloman who was none too happy about it :lol:

    Then the bit about re-education camps that came out of nowhere... someone's Jimmies seem to be seriously rustled.
     
    SpacePete, Apr 9, 2015
    #20
Page 1 of 2

Share This Page