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Tim Picciott, The Liberty Advisor reports on the pension crisis we’re walking up on at this moment as it is revealed that only .666% of the 17 trillion dollar pension system is backed up by reserves. Interesting number, isn’t it?
Not only is this unsustainable, but it is extremely dangerous to those holding pensions in this banking crisis caused in part by interest rate risk.
It appears we’re only getting started as countless banks face full insolvency and to add fuel to the fire, the pension shortfall has already been a crisis for many years. This dramatically exacerbates and already big problem.
Stay tuned for more from WAM!
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