US raids civil service pension fund as it hits $14.3 trillion debt limit

Well, here we go.  It was going to happen sooner or later.  America in the 90s exported all it's business tooling and knowledge to China for short term gain.
With less manufacturing money coming in, the bubble economies in .com and housing boom took over but ran out of steam in 2007 and Quantatative Easing QE1 and QE2 took over.
Then Cash for Clunkers to get the last remaining solvent people in debt, but it was more fuel on the fire, because all those expensive metals in those scrapped cars went to China.
Then when the Chinese and Japanese didn't want to buy any more US government bonds the Federal reserve bought them.  How weird is that?
And now, the US government is raiding the pensions of it's own people to pay the debt.
http://www.telegraph.co.uk/finance/economics/8517266/US-raids-civil-service-pension-fund-as-it-hits-14.3-trillion-debt-limit.html

This happened in Argentina, before they went bankrupt in 2001.

I don't know if anyone remembers this but Robert Maxwell who owned The Mirror newspaper stole the pensions of his workers.  Imagine paying your wages into a scheme for your retirement only to find some rich guy has stolen it all.
Below is a snippet from something I found online about Robert Maxwell.

The late Robert Maxwell reputedly lost GBP 1.5 million in three minutes playing three roulette wheels simultaneously at Les Ambassadeurs casino in London. That works out at over £8000 per second.

Super rich scum bags feel no guilt or remorse stealing your money off you, especially easy to get at electronic digits in your bank account or pension.  That is why precious metals are so good, because they have to come into your house to come and get it and that is very risky indeed.

http://buycopper.co.uk/