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In this Jan. 23, 2018 photo, a youth moves quickly to collect grains of corn on the street that fell from a truck that was looted outside the port in Puerto Cabello, Venezuela. At the country’s biggest port, people swarmed a corn-carrying truck and began filling up sacks with the grain while the driver was held at gunpoint. (AP Photo/Fernando Llano)

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People line up to buy toilet paper and baby diapers at a supermarket in downtown Caracas January 19, 2015. REUTERS/Jorge Silva

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Russia’s former Finance Minister Alexei Kudrin attends the Reuters Russia Investment Summit in Moscow September 22, 2014. REUTERS/Sergei Karpukhin

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Poland confiscates half of citizens’ pensions

Attempt to delay European nation’s looming debt crisis

(WND) NEW YORK – Quietly, as the looming possibility of a U.S. military attack on Syria dominated news internationally, the government of Poland announced a decision to confiscate half of the nation’s pension funds in an attempt to delay an impending government debt crisis.

While details remain hazy, Reuters reported Sept. 4 that Polish Prime Minister Donald Tusk announced a government decision to transfer to ZUS, the government pension system, all bond investments in privately owned pension funds within the state-guaranteed system.

 For now, private pensions in Poland will be allowed to keep equity investments that in the Polish state-guaranteed pension system tend to be approximately half of all private pension investments.