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UPS Retirement Topics
"Bail-Ins" Wealth, Savings, and Pension Confiscation.
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<blockquote data-quote="pickup" data-source="post: 1205082"><p><em>Interesting read, I also read an article in the New York Post a few months ago that made a convincing argument that savers in the United States took a haircut worse than that what was proposed in Cyprus. The thrust of the argument is that interest rates are being made artificially low due to the Federal Reserve buying US treasury bonds while coupled with real inflation (albeit unreported but anyone who participates in the market place can see how prices have really risen over the last few years). The result: a net reduction of over 10 percent of your real savings, i.e. what your money could have bought last year versus this year). </em></p><p><em></em></p><p><em>Whether a confiscation by government or through a QE3 program by the fed, the result is the same: your wealth was confiscated.</em></p><p><em></em></p></blockquote><p></p>
[QUOTE="pickup, post: 1205082"] [I]Interesting read, I also read an article in the New York Post a few months ago that made a convincing argument that savers in the United States took a haircut worse than that what was proposed in Cyprus. The thrust of the argument is that interest rates are being made artificially low due to the Federal Reserve buying US treasury bonds while coupled with real inflation (albeit unreported but anyone who participates in the market place can see how prices have really risen over the last few years). The result: a net reduction of over 10 percent of your real savings, i.e. what your money could have bought last year versus this year). Whether a confiscation by government or through a QE3 program by the fed, the result is the same: your wealth was confiscated. [/I] [/QUOTE]
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"Bail-Ins" Wealth, Savings, and Pension Confiscation.
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