Where the EUSSR goes, we will follow:

Posted on February 14, 2014 by KG

‘Europe Considers Wholesale Savings Confiscation, Enforced Redistribution
…… So as Europe finally admits that the ECB has failed to unclog its broken monetary pipelines for the past five years – something we highlight every month (most recently in No Waking From Draghi’s Monetary Nightmare: Eurozone Credit Creation Tumbles To New All Time Low), the commissions report finally admits that “the economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment.”
The solution? “The Commission will ask the bloc’s insurance watchdog in the second half of this year for advice on a possible draft law “to mobilize more personal pension savings for long-term financing”, the document said.”
Mobilize, once again, is a more palatable word than, say, confiscate….’
(Thanks to Mawm for the tip)

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14 Responses to Where the EUSSR goes, we will follow:

  1. William Stout says:
    February 14, 2014 at 10:58

    And when people no longer trust the banks and financial institutions of Europe and stop placing their money in them, and seek other means of securing their wealth, what then will Europe do? I suppose that they shall do two things: begin printing money nonstop, and seizing private land. Does anyone remember the Weimar Republic, and the results of that debacle?

  2. mawm says:
    February 14, 2014 at 12:40

    Keep your money out of their hands – spend it. :mrgreen: Starting this evening – Air NZ to Vancouver, then on to Whistler/Blackcomb for a little bit of skiing. http://falfn.com/CrusaderRabbit/wp-content/plugins/wp-monalisa/icons/wpml_yahoo.gif

  3. Wombat says:
    February 14, 2014 at 13:25

    I don’t factor my superannuation into my retirement plans. I work on the assumption that it’s already gone. Just another tax that isn’t called a tax.

    That said, you suggest this to the guys close to retirement and they get real touchy about it.

    “Never happen” they say.
    “Already is in lots of places”, I reply, “places that said ‘it’ll never happen’.”
    “Well they wouldn’t do it here”.
    I laugh. “Why? What would you do about it if they did? Vote for the other guy?”

    That usually ends the conversation. :lol:

    • KG says:
      February 14, 2014 at 13:59

      Eventually, people will only keep what they can retain at the end of a gun barrel.
      All else is wishful thinking.

  4. Flashman says:
    February 14, 2014 at 16:12

    The tottering Roman Empire did much the same thing as this in the late 300’s.

    It didn’t work and may have hastened the end.

    As the saying goes: watching the brits and euros is like observing lepers and wondering what’s the next finger to fall off.

  5. KG says:
    February 14, 2014 at 16:18

    “.. is like observing lepers and wondering what’s the next finger to fall off.”
    Nice. :lol:

  6. Mathew says:
    February 15, 2014 at 06:03

    I guess this is the end point of people constantly shouting at their government to do something, that something always costs more and more money and they’ll take it if you won’t give it. Perhaps Europeans should stop asking their government to “help” and tell the to shove off instead.