BOB CHAPMAN ON THE GREECE RIOTS 12-15-2010

BOB CHAPMAN ON THE RIOTS IN GREECE 12-15-2010

Video Of Greek Riot Violence:

And to think that six months ago images of rioters throwing gasoline bombs at the police were enough to get Waddell and Reed to sell 20 ES contracts...

All you Americans out there that do not believe your government will move in on your pension plans just take a look at these facts. In 1997, the UK's Labor government abolished the dividend tax credit for pension funds, which cost pensioners $157 billion.

Just last month the French Parliament agreed to transfer assets of the French pension fund from equities to cash and government bonds.

In Ireland, their PM agreed to take half of the National Pension Reserve fund of $16.5 billion and apply it to the IMF-EU bank bailout. These funds are to be used as a backup to the bank rescue package.

Recently Hungary announced the nationalization of assets and contributions into the country's supplementary "private pension scheme." The funds will go into government bonds to help meet the budget deficit targets of its IMF-EU bailout.

In 2008, Argentina set the precedent, when $30 billion of assets in the country's ten "private" pension funds, were nationalized.

Estonia has cut state contributions into private sector pension schemes, while Poland is considering similar action.

These events are not fantasy, but reality. The UK government is currently eyeing the pension assets of the Royal Mail of some $30 billion. In England, it is believed a government guarantee would be next to worthless and a partial default on pensions and welfare are inevitable. England is close to broke having bailed out its banks.

Bob Chapman on Greece Riots

Bob Chapman on the Sovereign Economist 05 May 2010

Mr. Chapman also known as The International Forecaster is a 74 years old. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the U. S. Army Counterintelligence, mostly in Europe. He speaks German and French and is conversant in Spanish. He lived in Europe for six years, off and on, three years in Africa, a year in Canada and a year in the Bahamas.

Mr. Chapman became a stockbroker in 1960 and retired in 1988. For 18 of those years he owned his own brokerage firm. He was probably the largest gold and silver stockbroker in the world during that period. When he retired he had over 6,000 clients.
Bob Chapman : you got to remove these people from the government
Starting in 1967 Mr. Chapman began writing articles on business, finance, economics and politics having been printed and reprinted over the years in over 200 publications. He owned and wrote the Gary Allen Report, which had 30,000 subscribers. He currently is owner and editor of The International Forecaster, a compendium of information on business, finance, economics and social and political issues worldwide, which reaches 10,000 investors and brokers monthly directly, and parts of his publication are picked up by 60 different websites weekly exposing his ideas to over 10 million investors a week.

In June of 1991, at the request of business associates, and due to retirement boredom, he began writing the International Forecaster.
Bob Chapman : do not expect the government to guarantee your bank account , it is bankrupt