Going after people’s savings for defence spending?
Glad I’ve got a chunk of mine in metals 
I don’t see anything that indicates that. Looks like a government backstop for private defense “investment”. The article is very light on details. Are they saying that the defense contractors are guaranteed a profit on their “investment”, with the public shouldering the risk if the defense projects end up a black hole of cost overruns and delays, like most US defense projects? If that is the case, the public guarantee cited in the article is absurdly low. They better plan on overruns of 50-100%, that the public would be paying.
Steve
This seems more likely although I don’t see how they can do it without legislation:
It does mention the program is voluntary:
“Pension funds are in talks about committing more money towards military spending by rewriting a voluntary code signed by the biggest retirement providers in 2023.”
DB2
I saw that but it doesn’t make sense. Surely it is voluntary now? I’d want my pension fund to get the best return for me not committing to support the defence industry, that’s the government’s job.
I have read a few articles about this in the past few weeks. It is a European wide movement:
Do pension funds want to be part of the problem, or part of the solution?
Pension funds as part of the defence solution? I don’t like the way that this is going.
It would appear to be voluntary now as well. Your funds invest in all kinds of things, I would guess – equities, bonds, commodities, gold, real estate. The government has asked them to also invest (more) in non-public defense companies. Will that be better for your money? Publicly traded defense companies are currently popular and appear headed for more government largesse.
DB2
The European Commission has unveiled a plan to mobilize €10 trillion of citizens’ savings to enhance EU defence capabilities, marking a significant shift in funding strategy
All voluntary, until it isn’t
Armed robbery! Your money is no longer safe in financial institutions. But then, FDR confiscated gold, so what else is new?
The Captain
They are not having my gold!
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