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IPFS News Link • Economy - International
Bad news arrived earlier this month for anyone with a stake in any
private sector pension fund that had invested in the Polish government
bonds. The government announced a 100 percent default
on these bonds. It stiffed its creditors (lenders). It did this by
seizing the bonds and cancelling them. All that takes is a few key
strokes and the absence of law that protects the subjects from their
masters.
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