Happier Abroad Forum Community

This is just the beginning. Just wait until all western countries do the same thing.

Taco wrote:This is just the beginning. Just wait until all western countries do the same thing.

Yeah, smaller countries have been at it for a few years.
from 2010:
Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare' for Some
http://www.bloomberg.com/news/2010-11-2 ... -some.html

Hungary Forces Private Pension Fund Members Back to State Scheme
http://blogs.wsj.com/emergingeurope/201 ... te-scheme/

If it's where they can get it, they'll take it.

Teal Lantern wrote:

Taco wrote:This is just the beginning. Just wait until all western countries do the same thing.

Yeah, smaller countries have been at it for a few years.
from 2010:
Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare' for Some
http://www.bloomberg.com/news/2010-11-2 ... -some.html

Hungary Forces Private Pension Fund Members Back to State Scheme
http://blogs.wsj.com/emergingeurope/201 ... te-scheme/

If it's where they can get it, they'll take it.

Another reason why gold and silver offer security.

Teal Lantern wrote:

Taco wrote:This is just the beginning. Just wait until all western countries do the same thing.

Yeah, smaller countries have been at it for a few years.
from 2010:
Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare' for Some
http://www.bloomberg.com/news/2010-11-2 ... -some.html

Hungary Forces Private Pension Fund Members Back to State Scheme
http://blogs.wsj.com/emergingeurope/201 ... te-scheme/

If it's where they can get it, they'll take it.

I take this pretty seriously, and it presents me with a front-and-center dilemma. I've currently got a rental property up for sale. It's my last real asset, besides the place I live in. if I sold it, I would put the money in an American bank, and run the risk dicussed in this video.

I'm thinking instead of keeping it as a rental. That would mean I would have to work my arse off and ecconomize for months to get my cash reserves back to where I want them, and head for Europe in the summer. Not fun. But I can't afford to put the proceeds of this asset at risk, so I've got to determine just how big a risk confiscation is. The people in this video have a fair measure of credibility with me.

gsjackson wrote: I take this pretty seriously, and it presents me with a front-and-center dilemma. I've currently got a rental property up for sale. It's my last real asset, besides the place I live in. if I sold it, I would put the money in an American bank, and run the risk dicussed in this video.

I'm thinking instead of keeping it as a rental. That would mean I would have to work my arse off and ecconomize for months to get my cash reserves back to where I want them, and head for Europe in the summer. Not fun. But I can't afford to put the proceeds of this asset at risk, so I've got to determine just how big a risk confiscation is. The people in this video have a fair measure of credibility with me.

On the real estate end, there are creative options such as sell-leasebacks and 1031 exchanges, if you want to retain some property interest.

On the cash end, the question becomes whether you expect the problem to be a confiscation of only cash assets under their control, a default on the treasury & muni bonds, too, or a full on "turn in your old 100 dollars for a new 10 ameros" scenario -- and if you'll still be around to care, of course.