Sanctions and their effects, part 1

Sanctions have been in fashion for centuries, and are being broken. The widow Barbe-Nicole Clicquot-Ponsardin, in reaction to Napoleon’s Russian campaign, was concerned with the embargo that the Russian Tsar had imposed on French products in 1812. The widow hired a Dutch ship, had it loaded with over 10,000 bottles of the 1811 vintage, and […]

Empty state guarantee: Why the Riester pension is not safe

On Sunday, 05.10.2008, the Chancellor said “We tell savers that their deposits are safe. The federal government is also responsible for this.” – For lack of a legal basis, this is not a declaration of guarantee but, correctly understood, a political declaration of intent. On Sunday, 24.04.2016, a Labour Minister will be quoted as saying […]

How safe are the money deposits…..

Under no circumstances can the security system withstand every conceivable financial crisis. At the very most, however, the supervisory authority is entitled to contractually guaranteed. further reduce benefits and accumulated surpluses to bring them back into line with diminished capital. In the most extreme case, this could lead to that life insurance savers lose more […]