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Polish government confiscates half of citizens pensions

September 14, 2014

Originally published September 29, 2013 on

Does anyone doubt this is coming to America soon?

Polish Finance Minister Jacek Rostowski said the change will reduce Polish national debt about 8 percent of Polish Gross Domestic Product, or GDP, a move that allows the Polish government to resume another round of aggressive debt creation by borrowing in international markets, as reported by

By confiscating, or otherwise “nationalizing” the bonds held private retirement accounts of Polish citizens, the government – with public debt currently standing at approximately 52.7 percent of GDP – circumvents two threshold restrictions that deter the government from allowing debt to rise to over 50 percent of GDP, followed by a second deterrence that kicks in when national debt hits 55 percent of GDP.

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