If you haven't read Ann Barnhardt's post about Poland and what it mean to the US by now, you really need to.
"Back to finance. Poland did exactly what I and a few others have been warning about for years with regards to private retirement accounts and pensions. Poland confiscated 50% of all private pension funds last week. PRIVATE pensions.
As Warren Pollock and I have been screaming, one of the largest chunks of collateral left in the system is private retirement money, both in the form of 401(k)s and IRAs and in private pension accounts. In the U.S., the latest data for 2012 shows that there are now $10.5 Trillion in private 401k and IRA holdings, with another $9 Trillion in pensions and annuities."
Seriously go read that.
No comments:
Post a Comment
Please moderate yourself and your language. No posting of links to businesses, if you have a business you wish to advertise send me an e-mail. Please do not hide links in a comment. Post any links in full.
If you do not have a full user profile, your comment may be reported as spam. Particularly if you post a link to a commercial site.
中國詞不評論，冒抹除的風險。僅英語
It doesn't take much to fill your profile and put in a picture.
Thank you for reading my blog.