Reuters has reported:
Poland reduces public debt through pension funds overhaul
Reform moves bond assets from private to state fund
* Some equity assets to gradually move to state as well
* Changes seen reducing Polish public debt by 8 pct of GDP
* Funds say moves could be unconstitutional
* Warnings that private pension funds could be wiped out
I would like to underline that Poland is a member of the European Union and apparently the Union couldn’t care less about what’s going on. This situation is VERY, VERY, serious. This is just plain authoritarian regime tactics being executed before our eyes and….. no officials/ leader around the world and in the EU say something about it.
Beware, this is just the blueprint for further plans in the EU too. The people in power will do everything and anything to keep where they are and this regardless of basic democratic rights. Poland is just the tip of the iceberg here my friend and for the ones who have not yet understood the issues, We, the 99%, are somehow at war with little weapon at our disposal to fight this new fascism and authoritarian approach. You think that my words are harsh? Big governements want to know everything and more about you so the day your voice becomes too loud and heard… they may have something at hand to portray you as an “enemy” of the state.
My only advice…. and if you can…. take your money out ,as fast a possible, even if it costs you a little penalty , from your pension funds and park it in other countries where your rights seem at least more protected. Fior the ones who have doubts…. you can be sure that the day your retirements come…. you will be left with a fraction of the “promised” purchase power you have been counting on.