Norway Raids Sovereign Wealth Fund To Cover Government Expenses

No savings is safe from the fractional reserve Ponzi scheme; it is a black hole as compound interest comes home to roost; in peace

sentinelblog

Editor’s Note: I’ve said it before, and will point out again – coming to a Nation near you…  They will take everything before allowing it to implode – plan accordingly…

Source: Zero Hedge

Saudi Arabia isn’t the only oil-dependent nation struggling to make ends meet in the wake of weak oil prices.  For the first time since its establishment in 1996, the Norwegian government is starting to withdraw money from its sovereign wealth fund to cover government expenses.  In fact, in the first half of 2016 the government has withdrawn $5.4 billion.  Moreover, withdrawals are expected to accelerate in 2H 2016 reaching nearly $20 billion, a run-rate that would have them exceeding the fiscal limits imposed on fund withdrawals of 4% of assets, or $36 billion.  To put those withdrawals into perspective, Norway’s economy is roughly $375 billion and federal spending accounts for roughly 60% or $225BN. …

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3 thoughts on “Norway Raids Sovereign Wealth Fund To Cover Government Expenses

  1. What? Are people still using banks? I guess they are the people who vote?
    September is catchy time, stock up on what you will need for a collapsed economy. Make sure you have gas in the car, dry and canned food and water, some alternative energy supply. The time is now.
    Be with the ones you love and who love you. Cheers B

      1. Hey Ron. The stage is filling with extras, willing to work for anything and anyone.
        Sheeeesh, this is getting to be a bad, low budget production.
        It is easy to see signs too. Norway is where the reindeer were killed, heads missing but antlers intact. Be safe B

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