Here is a warning to us all. The Argentine state is taking control of the
country's privately-managed pension funds in a drastic move to raise cash.

It is a foretaste of what may happen across the world as governments
discover that tax revenue, and discover that the bond markets are unwilling
to plug the gap. The G7 states are already acquiring an unhealthy taste for
the arbitrary seizure of private property.

So, over $29bn of Argentine civic savings are to be used as a funding kitty
for the populist antics of President Cristina Kirchner.

http://blogs.telegraph.co.uk/finance...s_Whos_n ext/

Best Regards

Tom.