Sunday, February 20, 2011

A Worried Dutch Government Is Going To "Rescue" The Pension Funds

I read in below article: "Don't worry, your Government will rescue your savings"
Tut-tut-tut, what a mess! Nobody could have seen this coming. To protect the savings we will have a hearing on pension funds who made stupid and risky decisions. If necessary, we will take them over, thereby guaranteeing the entitlement of the poor pensioners.
What the article actually says is: "We're broke, we need the money!"
The government is preparing a hearing to legitimise the stealing of the savings of pensioners as they need money! They are broke. Previously private savings, these vast amounts will eventually belong to fiscally irresponsible politicians who will distribute it depending on the popular sentiment (Das Gesundes Volksempfinden).
The problem is that they really do not know how broke they are. Pension funds admitted they had a big problem with the stock exchange going down in 2008 but, they say, recovered 35% since then, so, you know, it is going much better now. Do not worry.

Fools, puppets and economists: the stock exchange has been going up thanks to the POMO (Permanent Open Market Operation) organisation, invented by the Federal reserve and part of the PPT (Plunge Protection Team) to buy anything that moves on the exchange. There is no demand, there is no economy or stock exchange anymore, only the POMO. It is all rigged, manipulated bull shit to fool everybody, especially brain dead financial journalists and with that the population at large. Nobody gives a damn anyway as longs as they keep on repeating "The Bold and The Beautiful".
And as the POMO gets their money from QE2 (printing press), we all know these debt will eventually be socialised. Why do they do this: to mask a depression bigger than 1929-1946. "Time" is what they want and need, in the hope Jezus comes back to earth with approximately 100 Trillion US$.

Don't you believe the sudden "increased life expectancy" story. They saw this coming 30 years ago. Furthermore, low interest rates have been set by Keynesian economists of the Fed and ECB. This has nothing to do with market forces but with "manipulation", market rigging and interventions. Therefore, setting interest rates so low is a political decision to intervene in and "to kick start" the market but (alas) with the "unintended" consequence that the saver will the punished in order to save the spender/speculator. Did the low interest rates help to kickstart the economy? No! Will they? No! But in the meantime, due to a wrong economic religion, savers are being brought to the slaughter house.

Moral of the story:
Prepare for violence in Entitlement Country. Pensioners are going to be eaten alive by the politicans. The Government is broke and desperate and pensioners are weak, vulnerable and their savings plenty. Inflation will eat away the good life. "Nobody Saw This Coming". Hah! Soon, the stock exchange will crash for a 2nd time, but now more severe, as the Keynesian lie cannot continue. "Trust", which holds everything together, will be severly tested. See the politicans and bankers running for the hills.
Hey, Got Gold?

Update: Bomb under pension scheme: The government to the rescue! Telegraaf (Google translation)
Update: How to break the bad news to the population.
Update: Do you have an additional pension scheme? No guarantees anymore..

Parliament calls for pension hearing 

THE HAGUE - In a hearing on the investment of pension funds, the House calls on citizens to maximize their questions and comments about the management of their retirement provision known. People will do so also through the website of the Chamber are invited.
According to the initiator of the emergence of CDA politician Pieter Omtzigt hearing his "individual opinions" such as employees and retirees important for MPs to managers, supervisors and experts in the pension world to hear.On March 31, the Court scheduled a hearing after including auditors and criticism of the show 'The Vanishing pension funds' TV program Zembla.
Many pension funds are working on a recovery plan for buffers in order to get declined since the credit crisis. Low coverage rates are often attributed to the low discount rate and increased life expectancy, so funds have to raise money.But there are also problems through poor management and risky investment.

No comments:

Post a Comment