As I write this, the European Union has just announced a possible $15b aid package to Ukraine (including 8 billion euros in fresh credit). Everybody has read the headlines about Europe: record unemployment, no end in sight, and so on.
So you might be wondering just where the European Union, and its constituent nations, scraped together the money to propose aid for Ukraine.
Well, wonder no more, because the following eight events might give you an idea of where governments go to get a little extra cash.
1. In March, 2009, Ireland seized €4bn from its Pension Reserve fund in order to rescue its banks. In November 2010, the remaining savings of €2.5bn was seized to support the bailout of the rest of the country.
2. In December, 2010, Hungary told its citizens that they could either remit their private pension money to the state or lose their state pension funds (but still have to pay for it nonetheless).
3. In November, 2010, the French parliament decided to earmark €33bn from the national reserve pension fund FRR to reduce the short-term pension scheme deficit.
4. In early January 2011, $60 million in private retirement funds were transferred to the state’s pension scheme in Bulgaria. They wanted to transfer $300 million, but were denied on their first attempt
8. The savings of all 500 million Europeans can be stolenby the European Union. Why? Because the financial crisis is not over, according to an EU document. The Commission is looking to ask the bloc’s insurance watchdog in the second half of 2014 for advice on how to draft a law “to mobilize more personal pension savings for long-term financing,” the document said.
So you see, European governments and institutions have already begun seizing private pension funds, slapping 20% taxes on all incoming wire transfers, confiscating up to 50% from private bank accounts and even stating all the savings of Europe are fair game. As we’ve said before, this phenomenom of wealth confiscation won’t stay confined to Europe. The US has also taken measures to ensure ease of access to the funds of everyday Americans.
We’ve said for many years now that the US government and almost all Western governments are bankrupt. This means they will try to confiscate as much wealth as possible from people who don’t carefully save before the collapse. Mark our words: US 401ks and IRAs will be nationalized in the next four years as well—maybe as soon as the next one or two years.
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Anarcho-Capitalist. Libertarian. Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media including CNBC, CNN and Fox Business.
A modest amount of currency, and as much ammo as you can afford is wise to keep in a safe at home, provided it is a good and heavy one. But the bulk of your investments and other assets must be protected from these thieves in our government and their employers, by converting it into commodities that are needed for survival in a post martial law environment. If you are a city dweller I recommend getting out asap, and by now you should know it is past time to start preparing for self defense in a more controllable residence than you may be presently in. I will not suggest which commodities are best for everyone because I really don’t know how other people think. I for one intend to be as independent from dependence on the existing infrastructure as possible. There are thousands of ways of accomplishing this and each person has a different opinion on how it’s accomplished. Do your own research. But, don’t depend on the existing system to continue much longer.