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Full Version: Post #2 - Illinois Pension Ruling Sets Stage for Riots…Everywhere
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Post #1 - Banker corruption causes Greek pensioners to start bank runs after payments delayed.

Panic descended in Athens on Thursday as Greece’s 2 million pensioners were hit with delays to their monthly state stipend. Pensioners raided their accounts and broke into a board meeting, according to reports.

The Greek government blamed delays to payment on a technical hitch but this was denied by a government insider, who told the FT that state pension funds were still missing several hundred million euros on Tuesday morning.

Greece's main state social security fund delayed pension payments due Tuesday by almost eight hours. The fund relies on a monthly subsidy from the government to meet its payments.

Just about official - Wall Street - wars - governments are wiping out pensions!

New world order wars spending pension funds? Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains - The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office.

The analysis concluded that, over the past 10 years, the five pension funds have paid more than $2 billion in fees to money managers and have received virtually nothing in return, Comptroller Scott M. Stringer said in an interview.
What can a state government do if it owes its retired workers vastly more in pension benefits than it will ever be able to pay? The answer, as far as the Illinois Supreme Court is concerned, is that the state will simply have to squeeze blood from a stone when the inevitable fiscal crisis hits. And it surely will, since the gap between tax revenues and pension obligations is conservatively estimated at $111 billion.

Illinois doesn’t have that kind of money lying around, and probably never will. So what then? My expectation is that the court’s decision last week invalidating cost savings implemented in 2013 will eventually lead to rioting in the streets and a civil war that pits taxpayers against public-employee unions. Unions Won’t Budge:


ALERT! U.S. Pensions LOOTED by Government. Here's Proof.
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