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This contribution is from a good friend many of you know on twitter as @ATTechFX Here is a link
This sh*t is happening all over the world.. not only in the USA.. Governments and central banks are up to no good everywhere.. beware..
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Dutch government steals from pension fund'
Door: ANP | 25 december 2010
The government stole billions of guilders from the ABP pensionfund in the mid 90's says former chief financial officer Van de Poel in an interview
According to Van de Poel, chief financial officer from 1997 to 2002 to the Pension Fund ABP, the government has stolen 30 billion guilders from the fund. "When I was finance director was a report of the General Court on my desk. It said that the government demolished 30 billion guilders from the fund, "explains the ex-head in the afternoon newspaper.
"The Court was furious about it. But no one read that report and not a journalist wrote about it. "Van der Poel is furious about the politicians who control the ABP pension fund. According to the ex- chief financial officer they are egoists who always blame others when problems get in the open, writes the newspaper.
Ruthless exploitation
in November Jean Frijns, former director of investments at ABP, already expressed his dissatisfaction about the robbery that the government committed to the pension fund. When the financial crisis two years ago broke out the ABP had a coverage ratio of 130 percent and the pension fund was at 95% coverage in November.
"When the coverage of ABP would have been 160 - 170 percent after a long period of economic prosperity which would have been reasonable, the fund would now have been much better, " Frijns said. "It's obviously a tough decision, but yes, the government has contributed."
Pyramid Game
Ex- chief financial officer Van de Poel also commented further on the aging and the problems it generates in the pension funds. He calls the problem simple.
"With rising life expectancy and our current lifestyle it cannot be that you start working on your 27th, and then stop at 64 years and take a free vacation for over 40 years, " says Van de Poel. "This is a demographic time bomb that is already ticking for a long time, a Ponzi scheme."
My Conclusion: (@ATTechFX comment)
On November of this year the coverage was 95% and way below the safety line. Just this week the ABP pension fund announced they were back above that 105% safety line and out of the danger zone. It's ok with me when you want to believe that But I don't.
Unless they hired some extra out of this world super traders that can make 15% return on investment in just 1 month it all comes down to changing the rules or fraudulent actions in their book keeping so the criminals can get their yearly bonus again. And nobody not even one has reacted on this news article.
Wake up everybody out there and don't say in the future you didn't know.
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