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Argentina seizes pension funds to pay debts. Who's next?
Telegraph ^ | October 21st, 2008 | Ambrose Evans-Pritchard:

Posted on 04/12/2010 9:17:42 PM PDT by george76

Here is a warning to us all. The Argentine state is taking control of the country’s privately-managed pension funds in a drastic move to raise cash.

Should we worry about our pensions?

It is a foretaste of what may happen across the world as governments discover that tax revenue, and discover that the bond markets are unwilling to plug the gap. The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property.

My fear is that governments in the US, Britain, and Europe will display similar reflexes. Indeed, they have already done so. The forced-feeding of banks with fresh capital – whether they want it or not – and the seizure of the Fannie/Freddie mortgage giants before they were in fact in trouble (in order to prevent a Chinese buying strike of US bonds and prevent a spike in US mortgage rates), shows that private property can be co-opted – or eliminated – with little due process if that is required to serve the collective welfare. This is a slippery slope.

(Excerpt) Read more at blogs.telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Editorial; Foreign Affairs; Government
KEYWORDS: argentina; pensionfunds; pensions
from way back
1 posted on 04/12/2010 9:17:42 PM PDT by george76
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To: george76

Another marxist state in the making. Time for another coup, isn’t it?


2 posted on 04/12/2010 9:20:13 PM PDT by MadMax, the Grinning Reaper
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To: george76

Who’s next? America under the Obama regime.


3 posted on 04/12/2010 9:22:58 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: george76

Seniors and baby boomers along with the rest are so screwed unless the Repubs have a blowout in 2010 and then remove the usurper. Sadly the idiots in this country empower the Democrats by paying their cable and sat TV bills each month. Every bill is divvyed up so CNN gets $2 to 3 a month, NBC/MSNBC/etc gets $2 to 3 and so on. Sports porgramming is alsp where the liberal news networks get the profits to stay alive.

The public will accept serfdom as long as they get to keep their TV like the sheep they are. .


4 posted on 04/12/2010 9:25:05 PM PDT by Frantzie (McCain=Obama's friend. McCain called AMERICANS against amnesty - "racists")
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To: penelopesire

Definition of robbery - Someone taking another persons property by force or the threat of force. Paraphrased but we all get the point. Sadly, we are there now with wealth redistribution.... not only is it unconstitutional but I believe you could make an argument that it violates robbery statutes.


5 posted on 04/12/2010 9:30:52 PM PDT by volunbeer (Dear heaven.... we really need President Reagan again!)
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To: george76
The Socialists now in DC have had the takeover of our pension funds as one of their main goals for decades...just waiting for the power - now they have it.

As an investigative reporter, I infiltrated a NO PRESS meeting of my states DSOC (Democratic Socialist Organizing Committee.)

The main speaker was our state Senate Majority leader (dem).
He opened his address by pulling a card from his pocket and saying: “I, like you, am a card carrying Socialist...”

They went on to outline their new strategy - they had taken a great set back when Reagan was elected.

The main goal: infiltrate and take over the Democrat party.

another goal: “WE must get control of the pension funds.”

Well, here we are folks. (The 401Ks were particularly clever - get everyone contributing to the funds - build it up for them.

6 posted on 04/12/2010 9:31:56 PM PDT by maine-iac7
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To: penelopesire
Way ahead of you...

Government Plans to Loot Your Retirement Account

7 posted on 04/12/2010 9:32:21 PM PDT by null and void (We are now in day 445 of our national holiday from reality. - 0bama really isn't one of US.)
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To: george76
My fear is that governments in the US, Britain, and Europe will display similar reflexes.

I don't know about Britain & I don't care about Europe. But here in the U.S. if it comes to this, it is long past overdue for Am Rev II to break out and to throw these socialist politicians into prison OR the gallows for high crimes & treason against the U.S. and our Constitution. It is fast becoming Lock & Load time!

8 posted on 04/12/2010 9:38:57 PM PDT by rcrngroup
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To: null and void

Could this be where SEIU’s Andy Stern is headed? Bank on it if he is not indicted. He has been backing this marxist robbery plan for a long time and wants to head it up.


9 posted on 04/12/2010 9:43:33 PM PDT by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
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To: george76
This will definitely happen in America after the next major downturn.

Retirement funds will be seized and annuitized....for our protection....of course...

10 posted on 04/12/2010 9:51:08 PM PDT by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
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To: george76

“You say you want a revolution, well, you know.....”


11 posted on 04/12/2010 10:21:18 PM PDT by Uncle Miltie (http://www.teapartyslogans.com/cgi-bin/web/index.cgi)
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To: george76

Bend over, here it comes!

(U.S.) Government Plans to Loot Your Retirement Accounts

http://www.freerepublic.com/focus/f-news/2491843/posts


12 posted on 04/12/2010 11:17:32 PM PDT by XHogPilot (A thief might rob you, but politicians can rob your family for countless generations.)
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To: george76

No wonder they want to get their hands on British oil


13 posted on 04/12/2010 11:51:39 PM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: george76
Why are you posting an 18-month-old story?

I cited and sent a link to my relatives -- I didn't notice the OLD date on it until I'd hit "send".

I really don't appreciate your posting stale-dated stuff like this. There are no internal cues like there are with the stories some eccentric keeps posting from the 1930's and 1940's.

14 posted on 04/13/2010 12:32:55 AM PDT by lentulusgracchus
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To: lentulusgracchus

I don’t think the relatives will mind an “Oops - this is an old story. At least for Argentina. But many folks have watched what Argentina has been going through for the past few years and think it is a possible scenario coming to the U.S. of A. So while it is old news for Argenetina, it may be a warning for us.”


15 posted on 04/13/2010 12:44:48 AM PDT by 21twelve ( UNINTENDED CONSEQUENCES MY ARSE: "..now begin the work of remaking America."-Obama, 1/20/09)
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To: george76

The United Kingdom Indepedence Party is warning that the big party politicians like Canmeron and Brown know how bad things really are and will tell the people of the UK about it after the election.

Bad enough to seize pension funds?????

Maybe......


16 posted on 04/13/2010 1:01:24 AM PDT by Nextrush (Slocialist Republicans and Socialist Democrats must go)
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To: 21twelve
Yes, I agree there's something there worth looking at. It just needed to be more prominently marked out, that the story is from 18 months ago.

Fortunately, someone linked in the current Bokor article on the Administration's plan to convene a "study" ..... I looked at the original doc she refers to, very dull reading and broad, very hard to read in meanings, but I'll credit Bokor with being able to follow the DC-ites as they mumble their gongoristic mumbles that we aren't supposed to be able to understand.

17 posted on 04/13/2010 1:19:05 AM PDT by lentulusgracchus
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To: george76

Ladies and gentlemen: “Ready on the left; ready on the right. Lock and load. Commence firing.”


18 posted on 04/13/2010 2:06:20 AM PDT by NTHockey (Rules of engagement #1: Take no prisoners)
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To: lentulusgracchus; null and void; XHogPilot

The following thread is from a Conservative booklet written in 1937 about FDR and the New Deal. Again, history is repeating itself - almost exactly. And a heavily deleted excerpt (replace “gold” with “money”).

http://www.freerepublic.com/focus/f-news/2185147/posts

PROBLEM TWO TO SEIZE ECONOMIC POWER

This was the critical problem. The brilliant solution of it will doubtless make a classic chapter in the textbooks of revolutionary technic. In a highly evolved money economy, such as this one, the shortest and surest road. to economic power would be what? It would be control of money, banking, and credit. The New Deal knew that answer. It knew also the steps and how to take them, and above all, it knew its opportunity.....

..... was a decree by the President requiring all persons and corporations whatever to divest themselves of gold and hand it over to the government....In view of further intentions not yet disclosed it was imperative for the government to get possession of all the gold. With a lot of gold in private hands its control of money, banking, and credit could have been seriously challenged....

One effect was that private borrowing and lending, except from day to day, practically ceased.... “No man outside of a lunatic asylum,” said Senator Glass, “will loan his money today on a farm mortgage”. But the New Deal had a train of Federal lending agencies ready to start......

All through the commotion of these unnatural events one end was held steadily in view, and that was a modern version of the act for which kings had been hated and sometimes hanged, namely to clip the coin of the realm and take the profit into the king’s revenue.

Control of money, banking, and credit had passed to Washington. Thus problem number two was solved.....


19 posted on 04/13/2010 2:14:31 AM PDT by 21twelve ( UNINTENDED CONSEQUENCES MY ARSE: "..now begin the work of remaking America."-Obama, 1/20/09)
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To: george76

When I turned 62 I took early retirement with Social Security. Although I make too much money to get paid anything, I did it so that “I could be on the train” before it left the station, so to speak.

No problem, I don’t get any money from Social Security but I know they are going to play games with the system to screw us out of anything we will get back from what was forcefully taken from our entire lives of hard work.

Well, guess what? I get a letter yesterday from the Social Security Administration notifying me that they have “un-retired me” effective 2008. What? How can they cancel your retirement from SS (I have to use SS to remind me how they resemble Nazis).

What this all means is that they are already plowing the ground for a hell of a lot of manipulation of the system to screw us older people out of what is due in the name of redistribution of wealth.

Here it comes....................get ready


20 posted on 04/13/2010 2:49:35 AM PDT by DH (The government writes no bill that does not line the pockets of special interests.)
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To: penelopesire; george76; null and void

“Could this be where SEIU’s Andy Stern is headed? Bank on it if he is not indicted. He has been backing this marxist robbery plan for a long time and wants to head it up.”

Whoah! That would make sense.

3/23/10

“Unions Want to Take Over Your 401(k)”

http://www.freerepublic.com/focus/f-news/2478122/posts


21 posted on 04/13/2010 10:03:09 AM PDT by 444Flyer (PharaOh, PharaOh...let my people go!)
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