Some may remember hearing that Cyprus ‘saved’ its banks by confiscating chunks of the deposits people had entrusted to them. That was last Spring and it caused a lot of Eurofolk aware of their own governments’ and banks’ Potemkin finance considerable lost sleep. It’s contributing toward a growing E.U. black market, as citizens defend themselves as best they can. Little of these sorts of thing sees the light of publication in the U.S. Washington, D.C. and its entrained media prefer not to disturb the sleep of Americans with uncomfortable realities. However, if you’ve been reading here, you know, just as you know that all is not well financially in Argentina, Brazil, India and China. But all of that, is background.
What’s new today, is that Poland has now boarded the train; confiscating half of its citizens’ pensions. For an American, the equivalent would (or will) be a notice from the U.S. Treasury thanking you for contributing half of your 401k or your Social Security to your government. See, those government debts you hear of really do have to be repaid, by somebody with money. Guess who that is? Well, not the President or Congressfolk; they run up the debts; they don’t repay them.
Just to set up an future: ‘I told you so’, this is another of our warnings of what’s coming to a government near you.
Another event underlining what we should expect is the result of Norway’s just-completed election. The Norwegians, famous among the Left for demonstrating the success of European welfare statism, have joined the Aussies (another case of ‘successful’ socialism) in giving the bum’s rush to a Lefty government by replacing it with Right wing conservatives. Something that you may note, the neighboring Swedes have already done. Those Swedes promptly reduced the social welfare. Those places are going to ride out the financial piper’s arrival to collect his pay rather better than those continuing to ignore financial reality…
Now you can hear that piper’s tootling, from Cyprus and Poland. Like the neighborhood ice cream truck in summer, the music is getting closer…but it won’t be ice cream that he delivers to your door.