The Chile Economy, Social Crisis and Virus Impact

[admin]

I have reports of other AFPs where they get to login, then are placed in a "line".

They were not ready, and they are trying to dodge the penalties with all kinds of bullshit tech tricks.

I highly recomend anyone that thinks their request went through, verify it in a few days.

[41southchile]

Plan Vital, done mine 10 minutes ago, no problems. I think I will probably go and throw around half of it around to people on the street asking for money in Llanquihue, there's always an old lady at the gas station that must need it more.

[admin]

Plan Vital, done mine 10 minutes ago, no problems. I think I will probably go and throw around half of it around to people on the street asking for money in Llanquihue, there's always an old lady at the gas station that must need it more.

old lady begging on the street, "senior, I don't work that cheap".

[41southchile]

Plan Vital, done mine 10 minutes ago, no problems. I think I will probably go and throw around half of it around to people on the street asking for money in Llanquihue, there's always an old lady at the gas station that must need it more.

old lady begging on the street, "senior, I don't work that cheap".

I don't know yet, just thinking out loud, might as well give it the local economy to help create a bit of a sugar rush, better that than the inept fund managers having it to fund their coke snorting lifestyle on yachts in the Caribbean. For me personally it's a windfall and money that I had written off already. I contributed for tax reasons to the AFP, but screw it I am not paying anymore to those clowns.

[tiagoabner]

I don't plan on withdrawing my funds, at least not yet, but I gave it a go with AFP UNO to check how they're going. It worked fine for me, I could see my funds and it looked to be a pretty simple process. Just one form, and it should (presumably) go through. My wife is also at UNO, but she got stuck at a form that asked her to update her data before letting her go through with her login. So your mileage may vary, obviously.

[admin]

yep, seems it is only my AFP with the broken web site right now.

[eeuunikkeiexpat]

Logged in via the specific button for this purpose on my wife's account at AFP Capital, looks very simple and straightforward and that it would take if submitted.

[fraggle092]

You seem to be reading a bit too much into the individual 10% project in terms of the current government's power (or lack thereof).

Thanks for a really interesting and well-argued post that deserves a decent answer, btw. Just don't hold your breath.

In the meantime however, its worth checking out Article 65 of the Chilean Constitution. That has been the basis for objections to the constitutionality of that law.

La Constitución dice (art. 65) que corresponderá al presidente la iniciativa exclusiva para (6°) modificar las normas sobre seguridad social. Además, añade que “el Congreso Nacional sólo podrá aceptar, disminuir o rechazar los servicios, empleos, emolumentos, préstamos, beneficios, gastos y demás iniciativas sobre la materia que proponga el presidente de la República.”

But Its not "just" the 10%! The offensive continues
.

.
What comes next? - (Re)nationalization of the Copper industry? (again!)
'

[El Presidente]

The Central Bank is not leaving anything to chance with the massive liquidation that the AFPs are about to undertake. The Bank just issued a comunicado indicating that from next week it will buy up local bonds with a limit of US$10 billion.

https://www.bcentral.cl/contenido/-/det ... de-chile-1

It has already had an affect on the markets with the peso depreciating immediately after the announcement. Watch this space.

[41southchile]

All my staff seem to have a decent amount saved in their AFP, the least is 30 and most 60 million they are going to take out about half of what they are allowed to, one guy not going to touch his at all. With their own house/property and 50 million or so at retirement, you can see the benefits of staying in the campo and not following the drift to the towns and cities over the last 40 years or so.

[admin]

now a movement against the idiots in Congress trying to rob the AFP money, and to keep the AFP money away from the state and politicians, "the other 90% is also mine".

https://www.emol.com/noticias/Nacional/ ... iones.html

[admin]

We really should do a political dictionary of common phrases the left use in chile to fool people in to thinking they are moderate left.

fondo solidario = nationalization (not expropriation, as that requires paying for what you take).

el pubelo = the morons that do not know we are ripping them off

Frente Amplio = young communist party

There are a lot more out there. I will keep an eye out for more buzz terms the left is using these days to paper over what they are really doing.