France has Now Grabbed Their People's Pension Funds

[Ares]

To Give to Banks and Their Debt - Joining Hungary and Ireland

Seems all over the world countries are grabbing their People's Pension and Retirement accounts, they pass the laws very fast and spring the surprise on their people. France has just joined the fray of taking their people's retirement accounts to give to the banks and buy the countries bonds. (http://www.efinancialnews.com/story/2010-11-29/france-seizes-euro-36bn-of-pension-assets) They have taken 36 Billion of people's Pension and retirement accounts.

portion from above link:

Asset managers will have the chance to get billions of euros in mandates in the next few months for the €36bn Fonds de Réserve pour les Retraites (FRR), the French reserve pension fund, after the French parliament last week passed a law to use its assets to pay off the debts of France’s welfare system.

I had posted last week about Hungary taking their people's pension funds.

Ireland too is talking about taking their people's pensions and giving it to the banks.

Portion from above link:

Fine Gael, Labour and Sinn Féin attacked the intention to use the National Pension Reserve Fund to help provide a further €10 billion in further capital for the banks. In total, the banks could end up getting another €35 billion if their losses are bigger than expected.


So, does everyone see what is happening around the world?

The banks come before the people! The people's money of which they saved and worked all their lives for is being grabbed by the leaders of countries to give to the banks. Besides people having to pay more in taxes and get less in wages. In Ireland the people have to take a cut in the minimum wage for their "bailout".

I have no doubt there will be demonstrations in the European countries regarding what the governments are doing there.

But I will say again, it is simply a matter of time before the U.S. government passes a bill that allows them to take everyone's Private IRA/Pension and 401Ks. They have had committee meetings on it already, it has been discussed many times. Remember Federal and State Government Pension funds all over the U.S., are under water right now. If you think the government will not over reach their powers by stealing everyone's private retirement accounts, then you have not been paying attention to what has been happening with crazy laws being passed or about to be voted on.


I am including the S 510 "Safe Food Bill" which has enough support to pass the Senate and House - which then effectively makes growing your own vegetables illegal and forget being able to purchase food/vegetables at a farmers market - as those will be wiped out and made illegal also. Completely Crazy and Outrageous. But it seems they are intent on passing the bill, even though people have been calling their elected officials, saying "don't pass it" they are standing by the bill. This will then give Monsanto control of all of our food and seeds. In fact under the S 510 bill, it will be illegal to save your own seeds.


We are living in bizarre times and as you think it can't get more outrageous, it does.


So, look around, pay attention and if you want to be assured you have your own retirement account to use as you want, I would advise talking to an accountant, find out all the penalties of liquidating your Private IRA/pension/401K and do what makes sense to you. Is it better to take a "tax" hit now and save your retirement money or leave it where it is and let the government possibly grab it for debt and the banks? When they do/if make the grab, it will be fast with no fore warning, IMO, just as the other countries have done. People have not had the time to get their money out, once the decisions have been made around the world to take the Pension funds. So you make the decision to what feels right to yourself, just pay attention and wake up to the desperation of countries.


When/if it does happen in the U.S. - it will be... one moment, you have your own private retirement account to invest as you want and the next it will be under government control for the banks and debt due to giving Trillions to the banks.


Ask the French now, Hungarians, Irish, Argentinians, if they expected this to happen to them - in that their government swooped in and took their retirement accounts for their banks and debt of the countries. I would bet it came as a complete surprise.


An Idea ..... for the December 7th - bank run - it should also be a Private retirement account run too and put the money into metals - which has been the best investment of the year so far anyway. The tax of liquidating retirement funds, compared to the increase of metals for the year so far..... which is more?....... considering silver is up over 46% for the year.... you make that decision!

http://sherriequestioningall.blogspot.com/2010/11/france-has-now-grabbed-their-peoples.html

[mick silver]

dam they will be burning shit every were .

[chad]

the united states already grabbed the pensions of the american workers starting in the early 1980s. every presdient since reagan has spent social security funds on other shit.

[Hillbilly]

Holly Shit that is a big one. I don't see how that is going be smoothed over any time soon. Lets hope them Frogs kick some ass over this one.

[Twisted Titan]

When/if it does happen in the U.S. - it will be... one moment, you have your own private retirement account to invest as you want and the next it will be under government control for the banks



Almost time to Lock N Load

http://www.youtube.com/watch?v=Igt-jW4e8ts

[Ash_Williams]

But Micheal Moore showed me how France was awesome 'cause everyone got everything from the government like health care and all the sick days they could want and free wine for their kids. And when I pointed out to people how France had a huge and growing debt they used to finance all this they said it was ok to take on debt because they were investing in healthy people and so on. So what could have gone wrong?

[Filthy Keynes]

So what could have gone wrong?


The exponential function killed socialism.

http://hotmath.com/images/gt/lessons/genericalg1/exponential_graph.gif

[Uncle Salty]

You can't have your gateau and eat it too!

[Plastic]

Does this mean the socialists have finally run out of other peoples money? :P

[Filthy Keynes]

Does this mean the socialists have finally run out of other peoples money? :P


*Almost*!

There are still lots of young girls and boys to rape.

[vacuum]

I find it interesting that the people RAGE when the retirement age is pushed back a few years, yet are silent when the government just takes all their pension money.

[Andy9999]

http://www.independentlivingnews.com/searchresults/landing_page_medium3.php?gclid=CIbP2prYx6UCFQjd4Ao d1XzGYA


Dear Fellow Sitting Duck:
As Obama's spending orgy sinks America deeper into financial turmoil, he is about to turn Uncle Sam's acute funding crisis into YOUR problem.
In fact, Obama's Treasury and Labor Departments just held outrageous, executive branch hearings on nationalization of retirement accounts, and they are actively looking for the opportunity to ram this asset grab through.
Your nest egg is in their cross-hairs; you know, to "protect you" from losing your own money.
Congressional heavyweights such as Rep. George Miller (D-CA) have already held hearings on "merging" 401(k)s, IRAs, and other tax-advantaged private savings programs into the failed Social Security program.
That's why it's absolutely vital you take a quick moment today to sign the Keep Obama's Hands Off My Retirement Account petition to Congress.
In my 23+ years of exposing government attacks on assets for discerning Americans, trust me when I tell you that we ALL need to tell Congress in no uncertain terms:
DON'T LET OBAMA GET HIS GRUBBY HANDS
INTO MY RETIREMENT ACCOUNTS!!!!!
Here's what is going on.
The cash-strapped Obama Administration's unofficial 401(k) nationalization czar is utopian New School for Social Research academic Teresa Ghilarducci -- who was dubbed by U.S. News and World Report as "the most dangerous woman in America" after she appeared before Congress to testify in favor of government seizing 401(k)s and other retirement assets.
The "Most Dangerous Woman in America"
Who Helped Obama Rip Off GM Bond Holders
Now Wants YOUR Retirement Money!
Following her Congressional testimony at a 2008 hearing to begin ending 401(k) and IRA tax advantages, Ghilarducci admitted on conservative talk show host Wilbur Kirby's KVI 570 show in Seattle the truth about the left's scheme for gaining control of private retirement accounts:
"I'm just rearranging the tax breaks that are available now for the 401(k)s and spreading [here she paused briefly to consider her words] spreading the wealth..."
It is vital you sign our grassroots petition right away! Obama administration officials and their leftist allies in Congress have zeroed in on over $15 trillion in 401(k)s, IRAs, 403(b)s, and other accounts – and only a grassroots bonfire of opposition will ultimately stop them.
Why? Major state pension funds, state governments, and the entire federal entitlement program structure are on the verge of collapse and in need of bailouts due to collapsing tax revenues.

This Massive Theft is Underway --
Help Me STOP Them!
In addition to the Congressional hearings referenced above -- and an "automatic IRA" bill introduced in August by Senator John Kerry (D-MA) -- Obama bureaucrats are working furiously on new regulations (CFR, Part 1, RIN 1545-BJ04) to "herd" unsuspecting 401(k)/IRA holders' money into government-approved "investments," such as federal government debt. The "mainstream media" have totally blown off this story.
My name is Lee Bellinger, publisher of the nation's fastest-growing financial and self-reliance intelligence newsletter for savvy, freedom-loving investors, Independent Living.
My monthly intelligence advisory has become the largest newsletter of its type in America. Independent Living warned our readers well in advance about the housing bubble, the probable collapse of the banking system, and many other wealth-destroying threats.
You Need to Get Involved Now --
Don't Be a Sitting Duck
Today, I am sounding the alarm because millions of Americans stand to lose TRILLIONS OF THEIR OWN DOLLARS.
I DESPERATELY NEED YOUR HELP TO STOP THEM. Your assets and your financial future are directly on the line!
Sign our urgent petition to Congress right away. I am committed to sending at least 1 million petitions to Congress, talk show radio hosts, and the Obama Administration.
Over the coming months, my national petition drive will touch millions of U.S. households.
Our message: You Will Pay a Political Price if You Even THINK of Stealing Our 401(k)s, IRAs, and Retirements Accounts and Dumping Them Into Government Bonds.
Trust me when I tell you this is a winnable fight. Congress needs to be told in no uncertain terms that we will NOT let them turn our private savings into an ATM machine for spend-thrift politicians.

Don't wait for this freight train to hit you. Make your voice heard now. Sign and submit your petition now, before a new financial crisis gives the Obama administration the cover it needs to ram this outrageous retirement nationalization scheme through!

Lee Bellinger, Publisher
Independent Living
Citizen'sPetition to Congress


Whereas: The "Retirement Security Reform" policies being proposed by Teresa Ghilarducci would strip 401(k)s, IRAs, and 403(b)s of their tax-advantaged status; and


Whereas: Employer incentives to participate in 401(k)s would be removed in exchange for government-controlled "Guaranteed Retirement Accounts" as a General Accounting Office report commissioned by leftists in Congress suggests; and


Whereas: A whopping 50% of a 401(k) holder's assets would be HIJACKED upon their death as part of the planned merging of private accounts into a larger, Congressionally-managed pool of Guaranteed Retirement Accounts; and


Whereas: Private investment monies would be SECRETLY HERDED into "government-approved investments" through perverse tax incentives which reduce the attractiveness of private-sector investments in favor of supporting government debt sales, such as proposed Treasury regulations (CFR, Part 1, RIN 1545-BJ04); and


Whereas: Private citizens would be MANDATED to participate in forced government-approved and managed "savings" programs in the name of "retirement security";


Therefore: I hereby urge you to keep Obama's hands off the private life savings of individuals, including any and all of the above schemes to divert private savings into government bonds which fund out-of-control government spending.


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