Poland redux...st​ealing to make safer..........................from Rico

You simply cannot make this stuff up!

To summarize Poland's "bail-in"...

- Government has too much debt to issue more debt.

- Goverment nationalizes (loots) private pension funds making their debt holding an "asset" and comingling with other public assets.

- Confiscated assets net-out sovereign debt liability, lowering the debt/GDP ratio.

- Debt/GDP drops enough for government to issue MORE sovereign debt.

- Government can now borrow and spend even more. What could possibly go wrong?

Besides, they still have the Zloty so they have the option of 'printing' more of them, a la Ben Bernanke monetizing the debt).

Best of all.....wait for it.....the government just said that their action (stealing) re: pensions was 'positive' and would make them "safer."

- Yeah! I'll just bet those lucky pensioners feel a whole lot 'safer' about now............