Editor’s Note: This news is based on events years ago, when Allianz Global Investors basically used the pension savings of Catholic workers in Dioceses in the U.S.A. in a most reckless manner so as to prop up the stock values of other investors, by fraudulently claiming to run a hedge fund, with no protections normally associated with such investment strategies.
This resulted in, what would be tantamount to, a direct attack on Catholics working for the Church. As a result the pension fund in question, which cares for 40,000 employees of the Catholic Church in the U.S.A., lacks 42% of the funds needed to fulfill its obligations upon payout.
This massive loss of funds seems to be tied to the $7 Billion USD loss by the Allianz Global Investors fund at the beginning of the Plandemic, and may therefore been a planned attack on Catholic workers to make them more psychologically prone to take the DeathVaxxes to preserve their jobs. — However, it is not clear how, Allianz Global Investors claims to have loss $7 Billion and yet reimbursed $6 Billion, and yet left the Catholic Pension Fund, run by the Christian Brothers, $150 million short.
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1. Could be one of the reasons Bergoglio “encouraged” clergy to get jabbed, especially from 2021.
2. Unfortunately, pension underfunding is a fairly common problem.
This is part:
Structural – fewer contributions from smaller bases of contributors as compared to growing numbers of retirees, aka aging populations. This especially applies to “defined benefit” pension schemes, which is one reason why, for example, vast majority of corporate, non-government funded pension schemes in (say) UK have transitioned to “defined contribution” in the last 20-30 years.
Poorer than planned performance – due to poorer than average investment strategies, higher than average fees, etc.
Due to dubious through desperate to downright fraudulent activities – often precipitated by poorer than planned performance, as above.
3. 42% funding “shortfall” may not actually be much worse than US average pension shortfall, considering OECD, Mercer and similar reviews of pensions by country.
4. I did not quite get the maths in the last sentence, but suffice it to say that numerous expenses would have been reasonably charged by Allianz, plus some maybe unreasonably, but not fraudulently charged and there may well have been other “wheel greasing” involved, in addition to the outright fraud referred to in the Wikipedia article.