Great article on Hungary seizing the people's pensions. Here is a letter from 2009 in which a Hungarian was telling an Argentinian about what was going on in his country: http://ferfal.blogspot.com/search/label/Hungaryvery sad.
US gov has discussed creating something called a guaranteed retirement fund and taking all 401 etc and putting them under gov controls, using it to buy the bonds/tbills...after all why monetize when mainstreeters have 401's which can be taken and used for bonds...give it time.argentina, hungary, france..probably UK will..but hey we(US) mostly came from europe originally and S. america with it's history of ties to europe so why not do as they do stillwhat a mess..zimbawi had problems, to maintain control they gave soldiers raises and so they'd remain onboard..today US announces freezes in gov pay(at all time highs in pay by the way) but not for soldiers...brilliant
As in ireland ,argentina , and now Hungary pension funds are being siezed as a source of finance investments to prop up insolvant international banksters and insolvant ponzi government social security funds .In a lot of eastern europe especialy those that still had their own currencies, cheap low interest mortgage loans were provided denominated in the "strong" euro ,swiss francs ,or even in american dollars.Those that still ,say Hungarians are getting wage cuts and wages paid in their own fast devaluing currencies like the Florint, now find their florints only buy half as many swiss francs etc as they did before .They cannot afford to keep up with their mortgage payments on their now underwater houses in the stronger currencies .The houses are being foreclosed on and to add insult to injury their private pension savings are being seized so that the governments can pay off their national debts.The american government too ,is eying off the trillions in pension savings of Americans as a source of finance to support their ponzi national pension and social security payments.Thats capitalism under a central bankers fiat paper ,fractional reserve banking system .Americans should consider cashing in their 401k pension schemes and investing in hard assets .Before these funds are siezed for the bankstersand government bondholders benifit.Investment in silver may or may not turn out to be a good wealth preserver. but keeping your 401k fund savings wealth value and access to that wealth looks even more iffy .And governments and banksters in trouble move fast.remember the boy scout motto.be prepared.
10:03 not even going to call u names...Just actually look at say the last 10 years and tell me how the value of the dollar has been.Look at the job market, food prices, education costs, medical costs, raise in taxes, unemployment, world events, negative borrowing, bankruptcies, foreclosures etc etc.I had a friend like u back in 2005 I sold as he laughed...I made about 172k profit he kept his flipper house...Now his house is worth about ONE FIFTH...That's 20% of what it USED to be worth in 2005.He let it go ruined his credit and is all mad because no one gives him credit anymore.He's now bragging about the DOW being over 11,000 which means nothing since he owns no blue chip company stock and what is a 2010 dollar worth compared to say a 2001 dollar? Oh yeah about $0.59 cents.I think EA is helping people...I bought several of his dvds and that door stopper thing and I'm happy with my purchases.You think it's all BS? Then brother there is nothing I can do for you but wish you well.
10:03 my apologies I mistakenly deleted your post berating me.
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