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!
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