Poland confiscates half of PRIVATE Pension Funds!!

Zero Hedge ^ | Sept 7, 2013 | Zero Hedge

[entropy12]

While the world was glued to the developments in the Mediterranean in the past week, Poland took a page straight out of Rahm Emanuel's playbook and in order to not let a crisis go to waste, announced quietly that it would transfer to the state - i.e., confiscate - the bulk of assets owned by the country's private pension funds (many of them owned by such foreign firms as PIMCO parent Allianz, AXA, Generali, ING and Aviva), without offering any compensation. In effect, the state just nationalized roughly half of the private sector pension fund assets, although it had a more politically correct name for it: pension overhaul.

[SwankyC]

I thought I read somewhere that the only people that were able to get their money out overseas were basically people that got there in the first few days. Didn’t they outlaw holdings in Greece from leaving Greece? no?

[mosesdapoet]

Not positive but Hungary did the same thing.

[SkyDancer]

They can do that because there’s a heavy gun law there.

[boxlunch]

This is why we need to call a Convention of the States to discuss and propose amendments to reign in the out-of-control power of the federal government. Our founding fathers provided a "safety hatch" for the time, which they foresaw might occur in the future, when our federal government grew into an out of control beast. They knew at that point, no individual or party at the federal level would have the motivation to reign in their own power. They knew that balance of power would have to be re-established by the efforts of the states, and that is why they added an additional provision to Article V of the constitution.

From the website of Citizens for Self-Governance Citizens for Self Governance

What Does this Mean? This is not a partisan issue. Washington, D.C., will never voluntarily relinquish meaningful power—no matter who is elected. The only rational conclusion is this: unless some political force outside of Washington, D.C., intervenes, the federal government will continue to bankrupt this nation, embezzle the legitimate authority of the states, and destroy the liberty of the people. Rather than securing the blessings of liberty for future generations, Washington, D.C., is on a path that will enslave our children and grandchildren to the debts of the past - See more at: Learn More

Citizens for Self Government is ramping up a grass roots organization to begin the process of educating and putting political pressure on state legislators to call this convention of states.

Convention of States Frequently Asked Questions

[boxlunch]

The answer may not come from politics at the federal level, but rather from states regaining power, without secession or nullification.

See Post 24

[TexasFreeper2009]

yep, which is exactly why it’s important information to know so that one can act quickly should such a need arrive.

You can bet your bottom dollar should such a situation ever happen here I will be hoping into a car to the nearest border to withdraw all my funds ASAP.

[Jacquerie]

We had two choices in 1775, revolt or accept tyranny. My dear God, why is it so difficult to get Americans to even consider saving themselves?

History will not treat us well, should we not use the peaceful means the framers gave us to restore republican freedom. Imagine a people GIVEN nonviolent means to correct their mistakes, who then gaff them off as being “too hard,” or “it can't happen?”

[Tolerance Sucks Rocks]

And my banker wonders why I don’t contribute to my 401(k) anymore . . .

PING!

[Tolerance Sucks Rocks]

Poland’s government can spend your own money better than you can!

Nanny State PING!

[Tolerance Sucks Rocks]

There has to be a way to stop Democrats and RINOs from going to such a Convention, or else we’ll just get the Soviet Constitution out of it.

[Jacquerie]

WHO goes to the convention is less important than their commissions. State legislatures will assign delegates with limited power, not representatives with carte blanche to do as they wish.

We are inches away from hard tyranny. There is little time to right this once republic.

[CSM]

Many will claim that this would result in armed rebellion in the US, however, I am still waiting for a sustained anger over the US government confiscating our physical beings via the ACA. Things have gotten awefully quiet out there.....

[CSM]

“There has to be a way to stop Democrats and RINOs from going to such a Convention, or else we’ll just get the Soviet Constitution out of it.”

Actually, we already have transitioned to being governed by the principals of the Soviet Constitution. Take a look at it and you will see that it is HOW we are already being governed. Yet, there has been no need by the marxists to get approval by any single state to enact such liberty crushing policies.

At least with the process described above, there will be a requirement that 2/3rds of the States to agree to implementing any new ammendment. Generally, the individual States are nearly always a majority “conservative” already, so it is doubtful that the actual Soviet Constitution would be officially adopted. However, if we do not act, then we can be assured that we will continue down the path of the “unofficial” implementation of it!

[Alamo-Girl]

Thanks for the ping!

[George from New England]

That’s right. I happened to me years ago. I never did any electronic filing or refunds or such. But the IRS thought they were entitled to monies from me from 2005 and they went to the bank and got a percentage or interest payments sent directly to the IRS. It lasted until I hired an accountant to fix that years return.

[1010RD]

The cheese isn’t free.

[1010RD]

You cannot separate economic rights from civil rights.

[1010RD]

Five generations of government school teaching government.

Toss in the fact that people have hired thieves to filch the pockets of their neighbors, never once guessing that a thief is a thief and that thieves thieve.

Go figure.

[Jacquerie]

Yeah, it was a rhetorical question, the answer known.

I suppose a logical follow on question is, “what events will finally prompt us to demand constitutional restoration?”

Since Obama’s high crimes and misdemeanors have not lead to substantive talk of impeachment, I suppose it will take something along the order of suspending a presidential election to continue beyond eight years, . . . or an economic collapse.