Argentina seizes pension funds to pay debts. Who’s next?

dealsearcher

globalds wrote: »

Is this old news ?

Indeed, I thought Gordon Brown had already screwed pensions in the UK.

drc

My father lives in Buenos Aires (he's Argentine). They have a long history of reappropriating peoples hard earned money. He lost most of his savings a few years ago when they took peoples money from their accounts and now he thinks its safer to hide money in his tiny little apartment. Luckily he had a small amount of savings here in the UK and has a pension from the UK (most people can live on £90 per week in Buenos Aires because its relatively cheap). The banks in the main thoroughfare in Buenos Aires were (last time I was there) all boarded up with corrugated iron because so many people tried to get in/vandalise them because of all the stolen money. The strangest thing was seeing old women in real fur coats and made up to the eyeballs sitting on the streets begging for money.

tartanterra

drc wrote: »

My father lives in Buenos Aires (he's Argentine). They have a long history of reappropriating peoples hard earned money. He lost most of his savings a few years ago when they took peoples money from their accounts and now he thinks its safer to hide money in his tiny little apartment. Luckily he had a small amount of savings here in the UK and has a pension from the UK (most people can live on £90 per week in Buenos Aires because its relatively cheap). The banks in the main thoroughfare in Buenos Aires were (last time I was there) all boarded up with corrugated iron because so many people tried to get in/vandalise them because of all the stolen money. The strangest thing was seeing old women in real fur coats and made up to the eyeballs sitting on the streets begging for money.

I suppose this is what happens when politicians get elected after making manifesto commitments that the country can't possibly afford..........:eek:
Voters of Britain beware!

Charterhouse

October 2008. Well done retard.

Harry_Powell

JonnyBravo wrote: »

Sounds like we should all be getting into BTL instead eh? (and gold of course)

(Oh, and not all of us.... we need somebody to actually pay rent)

<runs for cover

I was banging on about this in a thread a week or so back. Given that pensions are so vunerable to fraud, shysters and government raids and interference, I can certainly imagine a continued move from traditional pension products to property (either BTL or buying larger properties to downsize from). I can only see one way for property prices to go, especially as we come out of recession and it aint down!

Graham_Devon

JonnyBravo wrote: »

Sounds like we should all be getting into BTL instead eh? (and gold of course)

(Oh, and not all of us.... we need somebody to actually pay rent)

<runs for cover

We have the state to pay the rent