Europe says it again: Citizens, we’re going to make up for the sins of the elite in finance and politics, by stealing your hard-earned savings.
From Reuters News Service: “Exclusive: EU executive sees personal savings used to plug long-term financing gap.”
The savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.
The EU is looking for ways to wean the 28-country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other investment.
“The economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment,” said the document, seen by Reuters.
The Commission will ask the bloc’s insurance watchdog in the second half of this year for advice on a possible draft law “to mobilize more personal pension savings for long-term financing”, the document said.
Banks have complained they are hindered from lending to the economy by post-crisis rules forcing them to hold much larger safety cushions of capital and liquidity.
Why would they advertise this? Why tell people ahead of time you’re planning to rob them blind, if they have money in the bank?
If you think about it, it makes perfect sense. By telling people what they’re going to do, some will freely take their money out of the banks themselves, and most of those will invest it. What will they invest in? Probably the very paper assets the elite want to sell before they collapse in value! “Hey, you made a bad investment; so sorry, but it’s your fault.”
For those who leave money in the bank until the government steals it… “Well, we told you what we were going to do; we can’t help it if you’re too stupid to move your money when you were warned! It’s your fault!”
See how this works? “Heads, I win. Tails, you lose.” The power boys are good at the game.