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Notices
AC
Aaron Cohn (not verified)
2nd October 2013 | 6:32am

I have no doubt we'll see this here. But I think the motivations won't be so beneficent. When (not if) foreigners no longer want to hold our government's toxic debt, somebody will have to. Undoubtedly there will be a forced contribution to treasury debt from pension funds if they aren't simply stolen outright "for safety and your own good". The hint of it will cause many high net worth individuals to flee the job market if not the country altogether. With bail-ins becoming the rule worldwide, spreading from Cyprus to Poland to Italy, the answer in the best interests of individuals is fleeing the banking system, not becoming more intimately involved with it.