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Guest Post: US Government Seizes Pension Funds, Invades Pakistan
Submitted by Simon Black of Sovereign Man
US Government Seizes Pension Funds, Invades Pakistan
There are certain times in life when a man is faced with overwhelming
adversity… times when he has no reason to adhere to society’s norms
anymore. It is in these instances that the true quality of his
character comes shining through.
One of these situations is when he’s broke. Dead, flat broke. Some
people, even when staring deep into their own financial abyss, still
hold to their moral principles, honor their obligations, and keep their
word.
For others, the boundaries of morality are quickly blurred into
shades of gray, and things like fraud, thievery, and deception become
perfectly legitimate tactics in their minds.
Speaking of broke, faced with what is tantamount to the official
insolvency of the United States of America, policymakers have opted to
seize funds from the retirement accounts of public sector workers in
order to keep the government running.
Wow. America’s leaders are willing to engage in cannibalistic
thievery in order to continue funding government operations. I wonder
what sorts of operations are so important that they are willing to steal
from their own people in order to finance? Any ideas?
Apparently, starting a shooting war in Pakistan was at the top of their list.
In the most insulting, disingenuous display of insensitivity and lack
of regard following such a momentous financial decision, the US Defense
Department decided to send helicopters into western Pakistan in a
search for more ghosts. Pakistani military fired on the choppers, and
the choppers fired back.
Seems like a good use of confiscated funds, no?
Never fear, though, the cracker jack squad of politicians in the
112th Congress is clearly hard at work, spending all of their time and
attention at resolving the debt crisis and budget troubles.
Rep. Sheila Jackson-Lee of Texas, for example, proved to America that
she’s focused like a laser beam when she introduced bill HJ Res. 64 on
Friday afternoon. What exactly is HJ Res 64? It’s a resolution to express support for designating September 2011 as Gospel Music Heritage Month.
The similarities to Nero playing his fiddle are all too obvious.
Adding injury to insult as it were, Ms. Jackson-Lee followed up HJ Res 64 with the introduction of HR 1900,
yet another bill to give TSA sweeping powers over “surface
transportation” such as train stations and bus terminals. Now you can be
molested in planes, trains, and automobiles. Coming soon: shopping
malls!
Not to be outdone by Ms. Jackson-Lee, Senator Barbara Boxer just introduced Senate res 177
to designate May 15th through May 21st 2011 as “National Public Works
Week.” Wait a sec… that’s this week! Well what are we waiting for,
comrades!?! Grab a shovel, there’s dams to build!
To cap things off, President Obama is getting ready for his highly
publicized trip to Ireland next week where he will visit the ancestral
home of his great great great grandfather, a small town called
Moneygall.
About 298 people live in Moneygall. The town has swelled for the last
two months as US Secret Service agents and the President’s
administrative entourage have descended upon the town to prepare for his
visit. Important issues must be tended to… such as, “what kind of beer
will the President drink?”
I couldn’t even begin to estimate what the cost of this trip will be
to US taxpayers… but somehow I doubt it’s worth a single penny of seized
funds.
Like I said, there are certain times in life where a person’s true
nature comes shining through. The government is telling us here that,
even when faced with insolvency, it will happily confiscate any source
of capital it can, and then continue squandering it all on useless
folly.
It really leaves me wondering when people are going to wake up and say to themselves, “Enough is enough!”
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Ok. And you are going to do what about it other than type in all caps?
Grabbing the federal employees' pensions is a beta test to measure public outrage. If there's little protest, those 401(k)'s will be easy picking.
And check that off the list. No problems from the sheep.......baaaaahhhhhhhhh......bahhhhh.
Time to go after social security.....sorry, that's gone.
They can go after home equity........shit.
How about ummmmm income......damn.
Fine 401K's it is. Put Lord Spankfien on the horn.
It's a political squeeze to minimize the cost of getting the debt ceiling lifted.
Deer-in-the-headlights Boehner failed to move an agenda on substantive spending cuts, so now he's getting boxed in by Timmah and Big Ben.
Don't give these a-holes anymore ideas.....It was just a week ago that Ireland announced that they were Uaaah...... borrowing from their pensions and BOOM four days later these fucktardz do the same thing.
I think the CAPS LOCK key got stuck on your Commodore 64 (the dampness in your mother's basement no doubt).
Despite the ringing in my ears (and my eyes), I think that this is a possibility.
They've done this in many other countries with financial crises. If other people won't voluntarily buy our bonds, we'll force someone to buy them.
Are there details on any plans for this (I saw something about Obama floating a plan that required a percentage of new contributions to go to bonds)?
Economics, Time Management, & Space Travel
OK, so, we are experiencing end-of-empire greed, where the best thief wins, temporarily. You’ll have that. The trick is to have the next economy ready to go when the primary agency thieves at the top off the ponzi pyramid start feeling that blade getting close to their necks. You must have real sustainable durable goods orders to max the NPV window, which requires monogamous marriage, which requires intelligence – not a natural state for the cave dwellers, who are lucky to see the end of their own noses.
The corporations run on equations, monkeys typing in data and programs randomly as the integral stages. If you are not on the road, you are being directed by a bunch of monkeys, that take credit if there is an immediate return on your code, and fire you if there is not. In any case, they post an accounting profit and steal what they must from small entrepreneurial firms, through the merger, acquisition, and divestiture process in the dc black hole, which you allow to grow to the necessary proportions, to develop the necessary backlash, to launch the next product into orbit.
If you feed the corporate hacks the data, that’s one integral up. If you introduce new equations, that’s two integrals up. From your perspective, they are living in the past, and you can regulate the black hole system as required, joining, dividing, and building momentum. The reason I use the motor control analogy is because you have to adjust torque at the beginning of the pipeline to pick up the kids, and again and again through the demographic distribution to keep the product coming out of the end of the pipeline.
I use the process control analogy because you are channeling resources with feedback loops, depending upon your design. So, you go into these towns, see what needs to be done, and build models so you are not constantly re-inventing the wheel, building and placing the necessary false-work in your closet, so you can place the necessary bridge pieces to cross any gap as it arises. They see your data months and years after you produce it, and they see your equations decades after you produce them.
At the point of current reversal, in their 20-20 hindsight, when voltage is 0 in the neutral line, the bridge “suddenly” appears, and they cross it, like Lewis and Clark, writing down their “discovery” onto the stack of History. Substantial thrust is required for this next stage, which requires “time” to build, and all the critters understand is money, which allows them to process “stupid” transactions in the interim.
You will not need money when you walk into town because the old-timers will immediately recognize your potential to leverage their relative returns. Your pieces collapse upon departure, which is why I call it false-work. Build a temporary bridge to get your people across, the corporations will set up on it and start charging the cattle a grazing fee (Microsoft, Apple, etc). When the weight becomes excessive, after you have already installed the next set of bridges, far away, BOOM, and you set it up as a cantilever to throw the kids forward, as the apparatus crumbles into the abyss below, which the natural action of the universe is creating. Employ nature as the containment pressure cooker.
The Bank has no real income, is hopelessly in debt, and the planet is now delivering one blow after another, because all of its make-work infrastructure is in the wrong place, doing the wrong thing, at the wrong time. Don’t bother with the new bank regulations.
Space travel is the same problem. The infrastructure required must be built in advance, to employ the circuit of black holes. The universe is like money; it’s a simple stupid transaction system for cave dwellers. It’s up to you to make it intelligible. Learn to manage your time more effectively. Efficiency is the height of stupidity. Be the timekeeper.
War is good bizness. nevermind that 5 innocent civs die for every one ied planter. War has become as much a component of the US Economy as has monetization of ponzibills
The thing is that they wouldn't even be planting the IED's if our troops weren't occupying their country
Shouldn't the DOW break 10K before we start something like this?
FYI
Invitation from 141 economists to join the World Economics Associationby Steve Keen on May 17th, 2011 at 9:47 am
http://www.debtdeflation.com/blogs/moneygall.
i like that.
QEII just landed (paste):
Queen Elizabeth II lands in Ireland at a military airbase named after an Irish nationalist whom the British executed for treason in 1916. ...and obama will only be there for 24 hours, arriving in dublin next monday, the 23rd. moneygall will never be the same. along with almost everything else... here is the take from ireland's press: Obama’s Irish advisers were key to Bin Laden plan | Irish News | IrishCentral
this page will also get you links to how sinn fein leader Gerry Adams welcomes the queen, after all, as well as: Shock as longtime Sinn Fein critics are not invited to meet with Queen
Start tunin' up your riot gear.
Government "workers". Haha. Good one
Government seizes IOUs of IOUs and replaces them with more IOUs. Eventually they will replace that IOU with IOU proceeds from a later IOU auction.
Why does everything need an official week/month?!?
God, now the pension funds. Where is the end if we go down this path? What next? My car as well?
I can't believe you're dissing Gospel Music Heritage Month. Please cancel my subscription.
When I related the exchange between U. S. and Pakistani forces a friend said that there was some question as to whose territory U. S. helicopters were in at the time, to which I responded: "If sovereign national boundaries don't matter to the U. S. why is the hell should they matter to the Pakistanis!"
Tuco Benedicto Pacifico Juan Maria Ramirez
LOL.
Now queue up Johnny Cash "In the Sky" with the Statler Bros. as backup.
Good stuff.
Are the Feds going to seize underfunded pensions as well? I guess you can't liquidate these pensions, so the government will need to borrow against them. Enter, stage right, the Federal Reserve. They'll lend, at interest, the value of an underfunded pension? Wouldn't that interest belong to the pensioners?
My head hurts.
So, I guess the hilarious animation below should be supplemented by the question: "Who are you if your government has stolen your retirement account?"
http://thesilvergoldhedge.blogspot.com/2011/05/join-sla-to-get-even-and-...
The only government pensions that will be raided are those of the working peasantry. You can be assured that Congressional and Judicial pensions, benefits and perks will remain untouched, and likely increased.
Just look to the Wisconsin case, where not a single state legislator, or the governor, agreed to having their own wages cut or benefits slashed, yet demanded concessions from the working folks. The Wall Street, Top-Down system of fascist corporatism/oligarchy/serfdom has invaded every sector of the country. The only question left is how long will the peasant do nothing but post on bulletin boards while watching other countries actually try to become free from their owners?
Thanks for the junking...it always proves I've hit a nerve in the lesser minds.
Sentiment without action is the ruin of the soul. One brave deed is worth a thousand books.
~Ed Abbey
Good to see some Abbey fans. You guys in Utah? Prime bug-out territory. Abbey foresaw his beloved wilderness serving as a safe haven for patriots.
Timmuh Geithner will come on here and post if someone makes the CAPTCHAs easier or gets him a calculator.
I have to commend Mr. Black..one of the first articles of his I see on ZH where he isn't promoting his seminar or telling us to move to the Phillipines or El Salvador
Thanks
Yeah, those infomercial articles get tiring.
I have to admit to being stunned that federal workers have a pension outside of general funds. It's ironic no? Private workers have been having their social security fund raided for 30 years, but those actually in the government, who are not required to contribute to social security, have a pension outside the general funds.
That was the old system. Any gubmint employees hired after 1985 do contribute to SS and have a 401K instead of pension. Congress still has their own separate system though.
That was the old system. Any gubmint employees hired after 1985 do contribute to SS and have a 401K instead of pension. Congress still has their own separate system though.
http://www.youtube.com/watch?v=WWUQ_N_vHc0
be patient and still my children. now you know you were used. now you know it was a big lie. so now you know. for now we must be patient and wait. one day, soon, the order will be given. go forth and kill and so you shall. drink from the cup of bitterness and revenge and quench your thirst. it is the least we can do for you. it is a gift to you. domestic enemies must be dealt with in a most harsh manner. as they volunteered once before, so shall they do so again. except this time, it will be for different reasons. reasons of honor and justice and dignity and above all else love of country and its people.........
I hate to mention this, but that picture of "National Public Works Week" looks very much like the murals of Ben Long.
http://www.benlongfineart.com/
If that doesn't make your nose itch just a little, I don't know what will.
I'm wanting to know where the hell all the WASP males are in that mural? Who the hell do they think got us from plymouth rock to blue ray any fN way?
They will steal government pensions and justify it by restating the obvious: Government workers owe over 330 million in back taxes.
Even Stephen
According to a recent Obama teleprompter speech we've solved all of our border problems. Next up we'll solve the Pakistan/Afghan border problems.
Actions must be taken that will make not only make the public willing to swallow QE3, but actually cry out for it. Pension threats/acts. Market crash? all good theatre to get the puppets on board..
Funny how Republican puppets chuckle at the thought of threats to .gov pensions, but nary bat an eye over all the foreign aid and militarism. Hypocrites, who condemn the cake of others and chew thoughfully on their own.. Neither side of the isle truly understand the implications of the prosperity mirage of the last two decades.
Yep. That's why I really dislike and distrust Rethuglicans. They can always see the other person's problems, yet never, ever look in a mirror. It's also been my experience that they are much more likely to eat their own young then publicly cry about family values. They easily do many low class, shitty things to anyone and everyone else, then have some righteous justification for it.
Look at Newt Gingrich. He's a hypocrite extrordinaire. He got all righteous about Clinton's blow job, while he himself was banging another woman as his wife was dying of cancer. Yet his morally righteous blather is still respected by the reich wing retards! It's because they are all hypocrites themselves.
I could write volumes about this kind of crap, but the righties here will just junk and never offer a worthy rebuttal, so why bother? It's all they know how to do.
The depth of hipocrasy is shared on both sides of the isle, friend. The Lefty liberals have loved kicking the can down the road as much as so called 'conservatives' do (hint: there is no conservative party). Both sides believe in living outside of their means. They are equally power, and illusory-wealth, junkies.
that's how I see it to Shell Game..the red team and the blue team are actually on the same side and the only difference is in the color of their jersey.
Indeed. Merely two wings of the same bird.
(edit: you got junked but I did not? That just ain't right. Must be a CINO out there who'll do the deed!)
Speaking of ghostst.. ghosts are known to be tricky to capture. You see,
the properties of the realm of the land of the Further, where ghosts dwell,
is not yet fully understood by the creatures in our realm.
It's not an invasion if you're already in the country and "they're your friend." We're just hugging them "a little on the hard side" that's all.
US invades pension funds and seizes Pakistan - or is the the other way; what the hell is going on here? 15 billion y
15 billion years of evolution, and all I got is this stinking planet? - Says God
the only thing missing from this headline is " ... Vice President rapes cat "
I think it's about time to liquidate all investments, take the hit on penalties and take all investments into the tangible realm. They've talked about taking control over 401K/IRA investments in the past. Typically, when the polititcians and the beaurecrats even hint at something like this, they will do it. They are probably currently working on altering whatever minute portions of laws, etc. they need to in order to get it legal. Austerity coming to you, and you, and you, and you... no matter who you are or what you have they can grab ahold of.
If I borrowed money from someone else's retirement account to pay my bills I wonder what would happen to me? I guess my history teacher also missed that law when teaching us the Constitution.
Outrage is growing against public sector pensions, but they keep increasing them. At some point an “event” will cause private sector pensions to fall even further into deficit than they are now.
At that point the government will respond to public outrage by nationalising public and private sector pensions into one “progressive” fund. The sheeple will be happy to have revenge on the public sector leeches, and will not realize they have lost everything. Eventually, we will end up with a handful of vouchers/ food stamps to cover costs.
Most people are so brain washed they will not realize it. And will probably actually thank them for it.
Further, I am not sure of how bad it is in the US, but the way college/ university debt is growing here in the UK I believe in the next ten years the entire payroll will be nationalised. Right now my son starts college in fall. With the debt he accumulates, and the tax he will pay, around 60% of his wage will be taken by the government (if he gets a job). Far easier to just take it all and hand back a few coupons as above.
Paging General Electric
zerohedge is sure diversified† good portfolio!
Its ok, we're gonna repay it worth worthless linen AND everybody affected will receive an Iwhatever of their choosing.
Maybe this was the kickoff of the latest "kinectic action" in Pakistan.
Gunmen on Motorcycles Kill Saudi Diplomat in Pakistan"A Saudi Arabian diplomat was killed on Monday in the volatile southern port city of Karachi, police officials said.
The diplomat, identified as Hassan M. al-Kahtani, was shot by gunmen riding two motorcycles who intercepted his vehicle after he left his home in an upscale neighborhood, the officials said.
There was no immediate claim of responsibility.
“He was shot in the head and died on the spot,” said a police officer, who spoke on condition of anonymity."
http://www.nytimes.com/2011/05/17/world/asia/17pakistan.html
Obama to run unopposed. Another "first."
As a matter of fact, all organizations are fictions. That is, they do not exist. This is literal fact. Even fundamental law acknowledges this when it refers to all organizations as "fictitious entities".
What does exist?
predators DBA government
predators DBA corporations
predators DBA organizations
Humans are frozen like deer in headlights. They are prevented by their confusion from taking action to defend themselves and others. The key to eliminating the confusion is to face and understand the nature of predators, and the fact that the illusions they create simply DO NOT EXIST. All that exists are the predators, the parasites that vote for them in exchange for freebees, and the prey that sustains them... the producers.
The predators have been so successful with their scams, they believe they can do anything whatsoever and everyone will accept their endless atrocities. Today they simply invade other countries on a whim, spend money that does not exist and is prohibited, and have people caged and killed for no reason other than they so order.
When will humans wake up. And when will they get fed up, and refuse to comply, and refuse to support the predators? Ever?
Will there be at least one day before the next presidential election when our current president is not spending taxpayer money and jet fuel to campaign for re-election? Simon Black’s mention of the planned trip of the president to Ireland next week is – and I’m telling you the truth – almost more than I can stand.
To visit the ancestral home of his great-great-great-grandfather, a small town called Moneygall, Obama is obviously trying to add to his he-man Western image, along with a brand spanking new birth certificate and a still smoking shootin’ iron used to assassinate a political leader.
To say this trip resembles anything other than “I’m-just-like-you" campaign spin, is to underestimate the gall and the money being spent on “Moneygall.” Obama’s got the black vote, the Hispanic vote and he’ll be needing more white votes; thus, the lineage from ancestor Fulmuth Kearney, all the way to Ann Durham, Obama’s mother.
And all the while that Obama fiddles while America burns, the Axelrod gang who put him into office has taken over the White House while they go about Israel’s business.
This is over the top; for Obama to go to Ireland to see people with whom he's absolutely had no contact, taking along an adoring press corps, generating tons of campaign-only kinds of publicity, using taxpayer money, should be grounds for removal from office.
Already, the press begins the "our president is just like all the others" drivel - The Washington Post extensively showing how Ronald Reagan, Bill Clinton, and John Kennedy could trace their heritage back to, not Kenya, but Ireland. To what lengths will they go?
he's getting together with his puppet masters who reside in england. he's going to ireland to throw everyone off. IRA, do your job!!!
http://www.youtube.com/watch?v=HsHITZRCgqs
A liar and white black muslim christian socialist bastard, which no one can deny as President of ''change'', goes to his roots ... Euro PIIGS ''Moneygall''! http://bible.cc/matthew/8-31.htm
http://bible.cc/revelation/13-16.htm
http://bible.cc/daniel/8-25.htm
Blaaaa Haa haa haa haa haaaaaaa.
http://www.youtube.com/watch?v=cqQ-18lmqdg&feature=related
Invade the Pakis? Why bother? Canada is right here with massive resources. Just march across the border and take them...no Fuss, no Muss.....why go all the way to Sandwichstan?
This from the country that couldn't even control the road from Baghdad airport to the green zone.
Congress is going even further ... proposing handing permanent, world-wide war-making powers to the president - including the ability to make war within the United States:
As Jim Quinn says: “The smell of revolution is in the air.”
Correct, power without competence.
Exactly what funds did they seize? I mean, is there really liquid assets in these accounts? Or, do the "funds" consist of shares, bonds, and IOUs? In which case, what exactly are they borrowing?
"Exactly what funds did they seize?"
As far as I can tell, nothing, from the economy. Treasury can't add a match to what the employee puts in because the debt ceiling hasn't been raised.
Which is interesting in itself, as the match would come from debt...not taxation. Its in Timmy's letter to Senator Bennet.
"I mean, is there really liquid assets in these accounts?"
No one in the public knows for sure. They are held in trust for the government employees, with accounting done by Blackrock, apparently. Outside investors cannot see to value them and they are managed through the Comptroller of Currency.
"Or, do the "funds" consist of shares, bonds, and IOUs?"
The "funds" are non-marketable if I'm reading their own website correctly. The funds are designed to "replicate" certain markets, it does not say participate in them. So, they must exist as a special fund somewhere as inter-governmental securities (read IOU to a different agency within the government) unless of course it was pilfered like the public Social Security.
"In which case, what exactly are they borrowing?"
Time.
Hope this helps.
With the limited amount of time I've spent looking down this particular rabbit hole that's what I see, maybe someone else has some thoughts.
Cheers!
Simon's writing pattern looks very familiar.