Another article on how governments are taking money from those who have savings in a bank account or money in a retirement fund to fund government deficits. This is expropriation of private savings.
Now that "bail-ins" have become accepted practice all over the planet, no
bank account and no pension fund will ever be 100% safe again. In fact,
Cyprus-style wealth confiscation is already starting to happen all around the
world. As you will read about below, private pension funds were just raided by
the government in Poland, and a "bail-in" is being organized for one of the
largest banks in Italy. Unfortunately, this is just the beginning.
The precedent that was set in Cyprus is being used as a template for
establishing bail-in procedures in New Zealand, Canada and all over Europe. It
is only a matter of time before we see this exact same type of thing happen in
the United States as well. From now on, anyone that keeps a large amount of
money in any single bank account or retirement fund is being incredibly foolish.
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