European nations begin seizing private pensions


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.

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Good catch – this idea keeps popping up in the USA every now and then, too…ain’t socialism grand? (heavy sarc)

Expect this tsunami to reach the United States. Barack Obama might even employ it through Executive Order.

How’s that for redistribution?