- In 2012, the Greek government sold off billions in public property for a fraction of its value.
- In 2013, the European Central Bank stole individual bank deposits in Cyprus.
- A couple weeks ago, the Polish government stole billions in bonds from private pensions.
The Polish government was forbidden from borrowing money after their national debt level rose above 50% of GDP (gross domestic product). Instead of living within their means, the government stole the bonds in private pension funds to get under the 50% limit and now they can borrow and spend again.
Remember that back in 2010, the Obama administration was exploring ways to force IRA and 401(k) accounts to purchase a new type of U.S. Treasury Bonds (these were nicknamed Obamabonds). This would have been an avenue for the government to borrow trillions with an artificially low interest-rate, to the financial detriment of IRA and 401(k) account holders.
When governments need money, history repeatedly tells us that they frequently find some way to steal it from its citizens. The prudent lesson is to divide your assets among several different locations and a few of them that are difficult for authorities to access.