Wednesday, February 12, 2014

Coming to a country near you

By Donald Sensing

Europe Considers Wholesale Savings Confiscation, Enforced Redistribution

The EU is considering (that is, "planning") confiscating personal savings and retirement accounts to save its financial system.

If it happens there - and I give it a better-than-even chance - then I absolutely guarantee it will happen here. This is, after all, what the new MyRA really is: federalizing individual retirement accounts.

But it will only postpone, not avoid, the collapse.

To summarize: forced savings "mobilization", the introduction of a collective and involuntary CapEx funding "savings" account, the return and expansion of securitization, and finally, tying it all together, is a change to accounting rules that will make the entire inevitable catastrophe smells like roses until it all comes crashing down.
Yes indeed, coming to a country near you!