European nations begin seizing pension funds

Pensions are already fucked. In some countries such as the USA, pension funds have always been funneled to the government’s general fund and spent in order to make the budget deficit look better. So, that money is long gone.

As stated many times before. The choice today is: a) do we save the banks and let the rest of society shoulder the costs of the debacle or b) do we let the banks fail and spread the pain

http://www.csmonitor.com/Business/The-Adam-Smith-Institute-Blog/2011/0102/European-nations-begin-seizing-private-pensions

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4 Responses to “European nations begin seizing pension funds”

  1. Manor Mouse Says:

    Surely ‘banks’ and ‘money’ are so intertwined they’re more-or-less the same thing. If the banks are broken then so is the whole monetary system, and it will have to be ‘reset’ some time. It looks as though, by insisting that every debt is paid, and every fantasy gamble carried through to its conclusion, the world will grind to a halt in a few years’ time (or sooner?) and I don’t fancy our chances. Doesn’t this sort of thing usually end in war?

    I don’t know why anyone should be surprised, though. I’m not a mathematician, but intuitively, any system too complex to understand in detail, with ‘gain’ and myriad positive feedback loops, with no overall control and regulation is likely to hit the rails eventually. The usual solution would be to switch off and start again, preferably with a new, simplified system. I see no sign that anyone is thinking upon those lines at all.

    • guidoamm Says:

      The monetary system is only broken from the point of view of the politicians because they are now finding it impossible to deliver on the promises that have been made to the electorate. Other than that, the system is working out just as banks intended it to work.

      Debt based fiat money was sold by the bankers to the politicians. In turn, the politicians imposed it upon society. What is debatable is whether the politicians knew what the ramifications of the choice of one system over another might be.

      The banks are the pillar upon which the entire socio/economic construct of debt based fiat money holds. Thus the banks will always be protected even at the cost of the implosion of the socio/economic construct as is happening today. But a break down in society, as you rightly point out, much too often morphs into revolution. So as the marginal utility of a debt based fiat monetary system approaches zero, the creator of the currency must find ways to divert the attention of the masses away from what is happening at home. This is the role of false flag operations that throughout history have been used to further the raison d’etat of whatever hegemon rules at any particular time.

  2. guidoamm Says:

    I must disagree on who are the incompetent fools here. Bankers know exactly what they are doing. At the very least, there is an elite of bankers that know exactly what they are doing and this is the best possible universe in which they can exist.

  3. ducati998 Says:

    guido,

    The two options that you have provided are the same. But I opt for let the banks fail, the bondholders and equity holders take the loss. Spare the taxpayer the costs of bailing out the incompetent, arrogant, dishonest, fools, otherwise known as bankers.

    jog on
    duc

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