Just a reminder of one of the reasons why cryptocurrencies are beneficial. Note this dates from 2008.
"BRASÍLIA — Argentina’s government said Tuesday that it would seek to nationalize nearly $30 billion in private pension funds to protect retirees from falling stock and bond prices as the global financial crisis continues.
...
According to the plan, all the assets in individual accounts would be transferred to the state’s “pay as you go” system, and affiliation to the state system would be mandatory, effectively putting an end to the current dual system."
http://www.nytimes.com/2008/10/22/business/worldbusiness/22argentina.html?pagewanted=all
"BRASÍLIA — Argentina’s government said Tuesday that it would seek to nationalize nearly $30 billion in private pension funds to protect retirees from falling stock and bond prices as the global financial crisis continues.
...
According to the plan, all the assets in individual accounts would be transferred to the state’s “pay as you go” system, and affiliation to the state system would be mandatory, effectively putting an end to the current dual system."
http://www.nytimes.com/2008/10/22/business/worldbusiness/22argentina.html?pagewanted=all