Poland Confiscate Bond Holdings from Private Pension Funds – More Deflation

polish-parliament

While everyone is paying attention to Russia, the European economy continues to spiral downward into its Debt-Deflation, and the rising cost of debt to EU members in real international terms is alarming. Poland on Wednesday confiscated all bond holdings of private pension funds. This will be booked on their balance sheet to reduce their debt to GDP ratio by as much as 8%. This is actually being discussed as I have reported in Europe and the USA. Most will follow that same course and fail to realize that government CONSUMES national wealth – it does not create it. This is part of the deflationary cycle we are in and WHY I have stated there is ZERO chance of hyperinflation. Governments are confiscating wealth – not printing their way out of anything.

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