Argentina Seizing Private Pensions

The Obama adminstration had talked of taking over private IRAs in order to place them under government control. Think it can’t happen?

Ambrose Evans Pritchard

Here is a warning to us all. The Argentine state is taking control of the country’s privately-managed pension funds in a drastic move to raise cash.

It is a foretaste of what may happen across the world as governments discover that tax revenue, and discover that the bond markets are unwilling to plug the gap. The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice.

Read More…