Forum Home
PC World Chat
Thread ID: 138493	2014-12-08 12:59:00	Is our cash safe	DeSade (984)	PC World Chat

Post ID	Timestamp	Content	User
1389716	2014-12-08 12:59:00	I don't pretend to understand international fiscal policy but this looks bad to me..... Can anyone elaborate? Sadly, what is happening in Cyprus right now is just the continuation of a trend. In recent years, governments all over the world have turned to the confiscation of private wealth in order to solve their financial problems. The following examples are from a recent article posted on Deviant Investor… October 2008 – Argentina’s leftist government, facing a gigantic revenue shortfall, proposes to nationalize all private pensions so as to meet national debt payments and avoid its second default in the decade. November 2010 – Headline – Hungary Gives Its Citizens an Ultimatum: Move Your Private Pension Fund Assets to the State or Permanently Lose Your Pension – This is an effective nationalization of all pensions. November 2010 – Ireland elects to appropriate ten billion euros from its National Pension Reserve Fund to help fund an eighty-five billion euro rescue package for its besieged banks. Ireland also moves to consider a regulatory move that compels some private Irish pension funds to hold more Irish government debt, thereby providing the state with a captive investor base but hugely raising the risk for savers. December 2010 – France agrees to transfer twenty billion euros worth of assets belonging to its Fonds de Reserve pour les Retraites (FRR), the funded portion of its retirement system, to help pay off recurring social benefits costs. No pensioners are consulted. April 2012 – Argentina announces that its Economy Ministry has taken an emergency loan from the national pension fund in the amount of $4.3 billion. No pensioners were consulted. June 2012 – Treasury Secretary Timothy Geithner unilaterally appropriates $45 billion from US federal pension funds to help tide over US deficits for the remainder of fiscal year 2011. January 2013 – Treasury Secretary Geithner again announces that the government has begun borrowing from the federal employees pension fund to keep operating without passing the approaching “fiscal cliff” debt limit. The move effectively creates $156 billion in borrowing authority from federal pension funds. March 2013 – Open Bank Resolution finance minister, Bill English, is proposing a Cyprus style solution for potential New Zealand bank failures. The reserve bank is in the final stages of establishing a rescue scheme which will put all bank depositors on the hook for bailing out their banks. Depositors will overnight have their savings shaved by the amount needed to keep distressed banks afloat. Can you see the pattern? theeconomiccollapseblog.com Thoughts?	DeSade (984)
1389717	2014-12-08 17:36:00	And still they praise this government. I would be very angry if they stole my hard earned money.	gary67 (56)
1389718	2014-12-08 18:51:00	Well, it could be said by some that capitalism works until the going gets tough, and then they fall back on that good old socialist standby Appropriation and Nationalisation .	Terry Porritt (14)
1389719	2014-12-08 19:34:00	And still they praise this government. I would be very angry if they stole my hard earned money. Umm ... the ubiquitous "they" strike again. In this case though, there appears to be not one, but two "theys". They are slowly taking over. If we only knew who "they" were, we could stop them in their tracks. :p	WalOne (4202)
1389720	2014-12-08 19:48:00	To stop the "They" in their tracks, first don't vote for "them", then introduce a ritual hanging instead of a prayer or other flim-flam to start the Parliamentary week. the politician topping any poll as ass of the week gets to dance. Just to make it lively, the selection of the winning parliamentary drop-out could be done by the lotto team after the weekly draw. :devil	R2x1 (4628)
1389721	2014-12-08 20:42:00	The strange thing is that when the banks want money to lend to people for their mortgage etc, they just create it out of thin air. Why can't they do that in any of the above situations, instead of stealing our deposits?	rumpty (2863)
1389722	2014-12-08 21:09:00	Can you see the pattern? Yep , simple really......if you dont get caught up in conspiracy tinfoil hat nonsense Its the Greek govt way (and many other countries) 1) you countries economy is a basket case. 2) govt keeps spending money they dont have, overspending huge amounts 3) the citizens expect a high standard of living that doesnt match where their economy is 4) the govt borrows even more, in order to keep up the prentence of standard of living & services the country cant afford 5) the borrowed money has to be paid back, that county cant afford to pay it back . Things go pair shaped & the govt panics , grabbing $ from wherever it can all this was bought about by various govts spending money they dont have, and having no real way to pay it back : same as NZ	1101 (13337)
1389723	2014-12-08 21:54:00	Yep , simple really......if you dont get caught up in conspiracy tinfoil hat nonsense Its the Greek govt way (and many other countries) 1) you countries economy is a basket case. 2) govt keeps spending money they dont have, overspending huge amounts 3) the citizens expect a high standard of living that doesnt match where their economy is 4) the govt borrows even more, in order to keep up the prentence of standard of living & services the country cant afford 5) the borrowed money has to be paid back, that county cant afford to pay it back . Things go pair shaped & the govt panics , grabbing $ from wherever it can all this was bought about by various govts spending money they dont have, and having no real way to pay it back : same as NZ And it doesn't bother you that the government is drafting legislation to effectively steal the contents of our bank accounts?	DeSade (984)
1389724	2014-12-08 22:39:00	And it doesn't bother you that the government is drafting legislation to effectively steal the contents of our bank accounts? It does. The sooner we can move to Cryptocurrencies the better IMO!	Chilling_Silence (9)
1389725	2014-12-08 22:43:00	And it doesn't bother you that the government is drafting legislation to effectively steal the contents of our bank accounts? Yes it does bother me,but this is old news,it was suggested before the last election,so presumably it is accepted as OK be the populace of New Zealand.Funny how this works when the banks are doing well (and they are doing well,with massive profits) it's all rosie,but at the slightest set back YOU have got have a 'Haircut' to rescue them! Market forces at it's best lol www.rbnz.govt.nz Personally I think the banks should be forced to hold more in reserve rather than payout huge bonuses to CEO's and shareholders. No your money is NOT safe.	ruup (1827)
1 2 3 4 5