State pension systems = Ponzi schemes

“The great Ponzi scheme that lies behind our State pension is unravelling – as they all do eventually – because money being taken from new investors is insufficient to honour promises issued to earlier generations. […] None of this should come as a surprise. It is many years since experts began pointing out that Britain’s State pension – like most of its public sector pensions – are unfunded promises which rely on NICs and taxes paid by workers this week to pay pensions to old people next week.

This financial model is so fundamentally unstable that it is illegal in the private sector. No private company or insurer would be allowed to carry on as a series of British governments have done. Hence my disrespectful but I hope helpful comparisons with the original wheeze of the American fraudster, Mr Ponzi.”

State pension Ponzi scheme unravels with retirement at 70, Ian Cowie (Telegraph.co.uk, 24/06/2010)

 

At last someone in mainstream media starts stating the obvious fact: state pension systems in Britain, Spain and most Western countries are Ponzi schemes. Another trick devised by the governments to rob the average citizen. In the case of Spain, it was set up by the national-socialist dictator Franco and nowadays supported by all those who, after Franco’s death (of course), have appointed themselves as “anti-Franco fighters”.

 

Love and freedom.