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Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World

Tyler Durden's picture


Wondering who will take over the mantle of Treasury bond buyer now that the Fed is stepping away? Curious of the government's next steps towards repression and control of wealth? Wait no longer. As the AP reports, President Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement. Of course, this is not the mandatory IRA that remains somewhat inevitable (as the muddle-through fails) but is certainly a step in the direction we alerted readers to a year ago by which the government generously offers to help manage your retirement savings. Two words spring to mind... remember Poland.


Via AP,

Eager not to be limited by legislative gridlock, Obama is also expected to announce executive actions on job training, retirement security and help for the long-term unemployed in finding work.


Among those actions is a new retirement savings plan geared toward workers whose employers don't currently offer such plans.


The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into a traditional IRAs, according to two people who have discussed the proposal with the administration. Those people weren't authorized to discuss it ahead of the announcement and insisted on anonymity.

Of course, this is not what the CFPB suggested a year ago... We're sure the government is just trying to protect your retirement account from terrorists. From Bloomberg:

The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.


That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.


The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

But it's getting close.

Though Poland remains the strawman...



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Tue, 01/28/2014 - 14:28 | 4375986 gafgroocK
gafgroocK's picture



Whelp, here comes the BIG Grab

Tue, 01/28/2014 - 14:29 | 4376000 fonestar
fonestar's picture

If 2008 didn't wake people up, nothing will.  

fonestar does not feel bad for them.

Tue, 01/28/2014 - 14:30 | 4376008 hedgeless_horseman
hedgeless_horseman's picture



What about an IRA margin account within which I can short US treasuries?  No? 

Tue, 01/28/2014 - 14:33 | 4376027 LawsofPhysics
LawsofPhysics's picture

Please, shorting and selling will be outlawed by the next "state of the police state."

Tue, 01/28/2014 - 14:39 | 4376083 InjectTheVenom
InjectTheVenom's picture

If you like your retirement account, you can keep your retirement account. With us.

Tue, 01/28/2014 - 14:45 | 4376115 ParkAveFlasher
ParkAveFlasher's picture


Tue, 01/28/2014 - 14:50 | 4376159 TeamDepends
TeamDepends's picture

We were wonderering when they would roll out Operation Grab Yer Ankles.

Tue, 01/28/2014 - 14:53 | 4376194 synergize
synergize's picture

The hand writing on the wall - it seems the gov't is desperate to find the next marginal buyer for US treasuries...

No thank you

Tue, 01/28/2014 - 15:08 | 4376279 zaphod
zaphod's picture

The biggest problem for the government now is they have to maintain the illusion of a free society.

So they can't force you to "invest" in treasuries, but they will make it easy to do so. Maybe even have treasuries be the "default" IRA plan unless you change it. This way they can capture a good number of sheeple, while maintaining the illusion of freedom. So basically, robbing from those who don't know better and don't manage their own finances well


Tue, 01/28/2014 - 15:12 | 4376297 negative rates
negative rates's picture

He needs to have his head checked!

Tue, 01/28/2014 - 15:28 | 4376385 dontgoforit
dontgoforit's picture

Impeach this POS failed 'leader'.   SOB, QE queer....etcetera, etcetera, etcetera....

Tue, 01/28/2014 - 15:32 | 4376410 SoilMyselfRotten
SoilMyselfRotten's picture

They would like us to buy their shit so they don't have to

Tue, 01/28/2014 - 15:37 | 4376432 101 years and c...
101 years and counting's picture

moral of the story: this must mean bonds are going to crash once the program starts.

Tue, 01/28/2014 - 15:38 | 4376438 WarriorClass
WarriorClass's picture

and the Republican response:  

Immigration Reform!

Tue, 01/28/2014 - 16:14 | 4376575 gmrpeabody
gmrpeabody's picture

The O-K affordable retirement plan...

Tue, 01/28/2014 - 16:23 | 4376627 Citxmech
Citxmech's picture

"Going to crash?"  Hell, treasuries are already brain-dead, in a coma, and the only thing keeping them warm is constant life support from the fed.  If they cut QE by any substantial amount - the patient would flat-line in an instant.   

Tue, 01/28/2014 - 16:38 | 4376686 NoDebt
NoDebt's picture

All these comments (I read 4 pages of them before my eyes glazed over) and nobody caught this:

"first-time savers"

Could somebody explain to me what the hell a first time saver is?

Tue, 01/28/2014 - 17:11 | 4376814 Rip van Wrinkle
Rip van Wrinkle's picture

A muppet.

Tue, 01/28/2014 - 17:25 | 4376853 krispkritter
krispkritter's picture

 'The program would allow all savers to start building up savings in traditional IRAs that eventually could be converted into Treasury bonds , according to two people who have discussed the proposal with the administration. Those people weren't authorized to discuss it ahead of the announcement and insisted on immunity from prosecution.  Fixed it.

Tue, 01/28/2014 - 17:57 | 4376983 Keyser
Keyser's picture

One thing they failed to mention, this will be a MANDATORY investment in your future... And oh how they larfed... 


Tue, 01/28/2014 - 19:19 | 4377319 0b1knob
0b1knob's picture

Check your annual 401k statement.   Many 401k's were switched to 100% T bonds recently without the knowledge or permission of the owners.   In many cases even AGAINST the explicite instructions of the owner.

This is already a done deal thanks to the Obama / Wall Street crime syndicate.

Tue, 01/28/2014 - 17:29 | 4376873 Billy Sol Estes
Billy Sol Estes's picture

Jim Cramer fans

Tue, 01/28/2014 - 17:13 | 4376818 Town Crier
Town Crier's picture

It means young people.  The people who aren't buying Obamacare

Wed, 01/29/2014 - 03:05 | 4378831 Theosebes Goodfellow
Theosebes Goodfellow's picture

Bingo, Town Crier. That is exactly who the mark is in this presidential Ponzi. After 12 years of public schools, Obama thinks that these poor idiots won't even know they're being screwed until way after Obama and cohorts are dead. Let's see, 2.75% interest on 29.5 hour a week minimum wages. Oh HELL YES!!! Sign 'em up! /sarc

This will get as much support from the young kids as Obamacare did. Obama is going to have to force people into this rip off, just like he did Obamacare.

Tue, 01/28/2014 - 17:29 | 4376881 vs an army all alone
vs an army all alone's picture

Anybody with a job not sucking of the .gov tit

Tue, 01/28/2014 - 17:49 | 4376955 new game
new game's picture

if i got this clear, moar debt promisses into the future. debt tp cover debt coming due and created currently. more ponzi debt to cover the demand part of the ponzi debt scheme. and let us talk about how this going to work out.  if s.s. is an example moar promisses with money spent today and a promise, from the worst money managers known to mankind-the federal goberment, that there will be a payment in the future. NOT! are you kidding me. are people this stupid. thank god i emptied my wife 403b! wew! fukin-eh!

Tue, 01/28/2014 - 17:53 | 4376970 new game
new game's picture

the squid grows another huge tenacle! oh, and i supose bak of america is going to manage the money-hehe-transfer agent-hehe. is this the last straw? or is comingthe bail-in?

deparation, just plain desparation, like a junkie for next fix...

Tue, 01/28/2014 - 15:38 | 4376437 1000 splendid suns
1000 splendid suns's picture

Just like fucking income tax, never officially ratified ('America: freedom to fascism'), starts off as obligatory, ends with Nicolas Cage having his houses thugged from him. This whole UST ponzi is a joke, +$200Tril in debt, never to be paid back, just another form of tax and control. Will Cramer whore this crap?

Hey government, take a walk.

Tue, 01/28/2014 - 19:55 | 4377442 Stuck on Zero
Stuck on Zero's picture

Will Cramer call this crap?  No Obama will call the new plan CRAP:

CRAP:  Compulsory Retirement Account Plan



Tue, 01/28/2014 - 16:35 | 4376671 insanelysane
insanelysane's picture

Impeach?  Did you ever look at the next guy in line?

Tue, 01/28/2014 - 16:43 | 4376709 kaiserhoff
kaiserhoff's picture

A brain dead zombie would be a vast improvement.

I would have said an "old yellow dog" would be a vast improvement, but that could be misunderstood.

Tue, 01/28/2014 - 17:15 | 4376837 dogmete
dogmete's picture

Well we will get a brain dead (and soul dead) zombie, you can count on that.

Tue, 01/28/2014 - 17:24 | 4376858 rabbitusvomitus
rabbitusvomitus's picture

...or the guy after him!!!!

Tue, 01/28/2014 - 18:45 | 4377166 James-Morrison
James-Morrison's picture

At this point they are all cardboard cut-outs.




Do you believe it really matters?

Tue, 01/28/2014 - 15:53 | 4376493 RafterManFMJ
RafterManFMJ's picture

Buying Treasuries for your retirement is akin to handcuffing yourself to a railing on the Titanic - after it's hit the iceberg.

Tue, 01/28/2014 - 16:10 | 4376558 eclectic syncretist
eclectic syncretist's picture

One has to consider the possibility however, that the FedGov will run up treasuries for the first year in order to bring the sheep into the pen for the subsequent shearing, in which case one might expect treasuries to do very well for a year or so before the dumpfest really ensues.  I'll hold what little I have for now and see how it plays out, but obviously they're garbage in the longer scheme of things.

Tue, 01/28/2014 - 17:10 | 4376808 Parabox
Parabox's picture

You are assuming they will let you out once you are in.  Remember, they want to do "what's best for everyone".  That means theyre in control.

Tue, 01/28/2014 - 17:11 | 4376809 Parabox
Parabox's picture


Tue, 01/28/2014 - 17:54 | 4376976 SilverRhino
SilverRhino's picture

Running Treasuries up would also have a few side effects :  

  • Starts to kill the housing market (Bad effect) 
  • Slams gold / silver (They'd like that) 
  • Runs up inflation (They'd like that too) 


Tue, 01/28/2014 - 16:41 | 4376698 StandardDeviant
StandardDeviant's picture

Quite right -- but, sorry, an automatic -1 for the supercilious "sheeple".

Wed, 01/29/2014 - 01:33 | 4378695 aerojet
aerojet's picture

I don't even worry about retirement savings or funds or any of that shit anymore.  The numbers are not going to work out such that millions upon millions of Baby Boomers retire and cash out all at the same time.  It is not going to happen, it will not happen, period.  So by all means, buy your bonds, your stocks, your Bitcoins, or what have you, but it's all going over the cliff.  Silver and gold coins aren't going to help either, that is a total pipe dream.  

Tue, 01/28/2014 - 14:56 | 4376208 ACP
ACP's picture

Sounds like the gubmint is now the Godfather.

"We'll just hold onto it for...safekeeping. Joey and Vinny will give you a little dough, ya know, when you really need it."

Tue, 01/28/2014 - 15:23 | 4376352 LMAOLORI
LMAOLORI's picture



TREASURY BAIL OUT  or  TREASURY BAIL IN  - (depending on your point of view ) who else is going to buy our debt now that China's no longer able to extend and pretend.


Fed Owns 64% More U.S. Government Debt Than China


Classic Socialist trick just like Social Security

Tue, 01/28/2014 - 15:54 | 4376496 TeamDepends
TeamDepends's picture

(kicks the tire)  This is a piece of shit.

Tue, 01/28/2014 - 18:03 | 4377010 new game
new game's picture

this shit has been pondered for a while-now they see the need mathematically to get the ten year back under 2. many problems solved. housing, spending deficeits, current funding of s.s ponzi shortfall. all american plan to buy time to keep this ponzi alive and well. all good, green light buy, buy, the gov has it all figured out for you. uncle sam for president-he wants you!

Tue, 01/28/2014 - 16:43 | 4376712 El Oregonian
El Oregonian's picture


Tue, 01/28/2014 - 15:19 | 4376336 sunnydays
sunnydays's picture

401K plans have already been switched to 100% government bonds without people knowing it or being notfied.  They found out on their end of the year statement.

Tue, 01/28/2014 - 14:45 | 4376122 kralizec
kralizec's picture

Everything belongs to them, and they'll prove it, or die trying.

Tue, 01/28/2014 - 17:00 | 4376774 bh2
bh2's picture

Ok, let's hope it's "die trying". Them, not us. ;)

Tue, 01/28/2014 - 14:50 | 4376152 redpill
redpill's picture SPEND don't SAVE!  But if you do SAVE, buy TREASURIES!

Tue, 01/28/2014 - 15:13 | 4376312 agent default
agent default's picture

So we can do the spending for you.

Tue, 01/28/2014 - 14:52 | 4376170 GolfHatesMe
GolfHatesMe's picture

Just enroll on our Website......

Tue, 01/28/2014 - 15:17 | 4376329 XitSam
XitSam's picture

And, it's gone.

Tue, 01/28/2014 - 15:56 | 4376505 wiseindian
wiseindian's picture

LOL. And for that, I just had to ..


Tue, 01/28/2014 - 16:12 | 4376569 eclectic syncretist
eclectic syncretist's picture

Actually, it never existed until they imagined that it did.  And that, my friend, is how it works in the real world, believe it or not.

Tue, 01/28/2014 - 16:46 | 4376717 kaiserhoff
kaiserhoff's picture

We will gladly pay you nothing Tuesday,

for your five cent fiat today.

Tue, 01/28/2014 - 15:35 | 4376424 ghostzapper
ghostzapper's picture

No shit.  "Optional" my ass.  the "optional" period is just to test the infrastructure/administration before the seizure and confiscation of all IRAs and 401Ks.  

And yes I am still amazed people don't see this coming and they don't protect themselves with a combo of pm/bitcoin/physical cash.  

Tue, 01/28/2014 - 17:02 | 4376778 BeanusCountus
BeanusCountus's picture

From Bloomberg (cont):

The funds, tentatively named Madoff 1 and Madoff 2, will be administered by JP Morgan Chase. To encourage participation and get things rolling, Jamie Dimon has announced a $200 "signup bonus" for all new accounts. A spokesman said that JP Morgan will treat the expenditures as "Prepaid Fraud Penalties" on its balance sheet, recognizing that "its only a matter of time till we get caught stealing money from these folks".

Tue, 01/28/2014 - 14:51 | 4376175 max2205
max2205's picture




Please protect me from YOU!

Tue, 01/28/2014 - 17:17 | 4376841 Intoxicologist
Intoxicologist's picture

Someone who has been visited by the Tooth Fairy?


Tue, 01/28/2014 - 14:41 | 4376029 NotApplicable
NotApplicable's picture

So... Obummer's gonna help Old Yellen taper by sticking it up our ass?

Tue, 01/28/2014 - 15:33 | 4376247 Billy Sol Estes
Billy Sol Estes's picture

Citizen: "But I poop from there."

Yellen: "Not right now you don't."*


* Warning, NSFW, Google this and you will be fired. *




Tue, 01/28/2014 - 17:36 | 4376883 jenniewadeguy
jenniewadeguy's picture

Awesome!  Totally awesome!  All right Hamilton!

Tue, 01/28/2014 - 14:34 | 4376037 Unprepared
Unprepared's picture

everybody knows you should put all your savings into iCons*.


*i'm not for nor against them.

Tue, 01/28/2014 - 14:37 | 4376057 One And Only
One And Only's picture

My Nana would love to be smoking her Virginia Slim 100s while shorting 10 yr UST's on a tax exempt basis as part of a safe long-term IRA strategy.

Tue, 01/28/2014 - 14:39 | 4376077 dontgoforit
dontgoforit's picture

obamma is like a trumpet player with no lips.....what a sour note.

Tue, 01/28/2014 - 15:52 | 4376483 TruthInSunshine
TruthInSunshine's picture

+1 to One and Only for the lulz

We are living in surreal times

Tue, 01/28/2014 - 15:16 | 4376320 Offthebeach
Offthebeach's picture

Are you familure with the faint distant high altitude sound of a 4 cylinder Lycoming spining a pusher prop?

Avoid weddings, Toyota Hi-Lux Trucks.
Send your kids to boarding school

Tue, 01/28/2014 - 16:46 | 4376719 rsnoble
rsnoble's picture


Tue, 01/28/2014 - 14:31 | 4376026 SAT 800
SAT 800's picture

Ah there he is, "the virtual man", by his own statement. I guess he found it too stressful to be a real man.

Tue, 01/28/2014 - 14:41 | 4376084 fonestar
fonestar's picture

A virtual man is far more powerful than "real man".

Tue, 01/28/2014 - 14:43 | 4376100 SAT 800
SAT 800's picture

That is a completely crazy statement.

Tue, 01/28/2014 - 14:46 | 4376129 fonestar
fonestar's picture

Can't handle the RSBT eh?

Tue, 01/28/2014 - 17:07 | 4376791 OceanX
OceanX's picture

No it is not and he is completely correct.  In fact, that is why corporations use cartoon characters.  Indedstructlble and never age.  I remrember when Mr. Clean was a real man...

A virtrual man can transcend generations.

Tue, 01/28/2014 - 17:07 | 4376792 OceanX
OceanX's picture

No it is not and he is completely correct.  In fact, that is why corporations use cartoon characters.  Indedstructlble and never age.  I remrember when Mr. Clean was a real man...

A virtrual man can transcend generations.

Tue, 01/28/2014 - 14:50 | 4376160 Greenskeeper_Carl
Greenskeeper_Carl's picture

in the same way that virtual, or paper, gold is more powerful than physical gold?

Tue, 01/28/2014 - 14:54 | 4376180 fonestar
fonestar's picture

Precisely.  Can your "real man" blog like this?

fonestar is a disruptive technology.

Tue, 01/28/2014 - 16:06 | 4376533 eclectic syncretist
eclectic syncretist's picture

"fonestar is a disruptive technology"

Fonestar is a disruptive psychopath.  Fixed it for ya

Tue, 01/28/2014 - 17:44 | 4376932 Loose Caboose
Loose Caboose's picture

Missing from the checklist - speaking of oneself in the third person.  Dead giveaway.

Tue, 01/28/2014 - 17:09 | 4376803 Greenskeeper_Carl
Greenskeeper_Carl's picture

holy shit guys i was being sarcastic. I would have thought that would be obvious

Tue, 01/28/2014 - 15:45 | 4376456 Spanky
Spanky's picture

Oh massah. May I pleeease post something on ZH? You've been here for yeeears. And oh, your powerful virtual presence... I prostrate myself in the glare of your virtual awesomeness.

Prove the bitcoin crypto unbreakable, fonestar.

Bitcoin: NSA technology wrapped in a USN onion. Fingerprints at the scene of the crime.

Tue, 01/28/2014 - 14:36 | 4376050 gafgroocK
gafgroocK's picture



Hey fonestar, is there anyway you can stop being an Ass on issues non-bitcoin?

Or is it always about you?

Tue, 01/28/2014 - 14:39 | 4376085 SAT 800
SAT 800's picture

It's always about him; and his MOM; who bought him a thrift store desk-top; and brought all this insane babbling to us.

Tue, 01/28/2014 - 14:40 | 4376093 dontgoforit
dontgoforit's picture

Huh.  My brother knew 'Murph-the-Surf' in Miami back in the late '60's, early '70's.  Second-story man, right?

Tue, 01/28/2014 - 14:43 | 4376110 Levadiakos
Levadiakos's picture

So did I! Then he moved to NorCal

Tue, 01/28/2014 - 15:02 | 4376240 gafgroocK
gafgroocK's picture



Shhhh...I retired

Tue, 01/28/2014 - 14:42 | 4376096 fonestar
fonestar's picture

fonestar only lives to serve in Satoshi's name.

Tue, 01/28/2014 - 14:44 | 4376116 SAT 800
SAT 800's picture

you are insane. And you're starting to bother me.

Tue, 01/28/2014 - 14:53 | 4376192 fonestar
fonestar's picture

fonestar is known to have that effect upon "real" people.

Tue, 01/28/2014 - 16:25 | 4376630 atomp
atomp's picture


Tue, 01/28/2014 - 14:47 | 4376132 NotApplicable
NotApplicable's picture

What will you do once you realize that ALL of your actions work against your intentions?

Or like most other White Knights, will you fail to judge your actions, focusing only on your intentions?

Honestly, at this point, I've got you labeled as an anti-bitcoin troll, doing your best to smear Satoshi's name by acting like a pro-bitcoin dick.

If you really are pro-bitcoin, you'd serve Satoshi well by considering my questions.

Otherwise??? Carry on.

Tue, 01/28/2014 - 14:51 | 4376164 fonestar
fonestar's picture

My infections have always been clear, fonestar is here to proclaim a Bitcoin victory in Satoshi's name.  Now whether the likes of you are for or against is no concern of mine, nor are your feelings or remonstrations.  Bitcoin is the future and you are welcome to fight against the future, for the future cares not.

Tue, 01/28/2014 - 15:05 | 4376269 NotApplicable
NotApplicable's picture

Your reply was also completely evasive.

FWIW, I have no problems with bitcoin. I'm merely pointing out that your tactics do NOTHING to aid your stated cause, as you do NOTHING but spread discontent in your so-called "service."

So, are you a careless zealot, or a disingenuous troll?

Tue, 01/28/2014 - 15:14 | 4376311 fonestar
fonestar's picture

fonestar says a lot of things.

Tue, 01/28/2014 - 19:21 | 4377329 Nom de Guerre
Nom de Guerre's picture

Up arrow for the Duffman reference.

Tue, 01/28/2014 - 15:18 | 4376330 Skateboarder
Skateboarder's picture

He's just fonestar, the unwavering virtual disciple of Satoshi the invisible.

Tue, 01/28/2014 - 15:20 | 4376342 pods
pods's picture

fonestar is a troll, but without the funny wit of MDB. Basically someone who morphed from a regular here into a hero in his own mind.

He is a troll when it comes to bitcoin:

"No, I dumped at $780.  Didn't get it quite right but close enough and no margin."

He is just here to stir shit up when it comes to bitcoins.  Kinda odd a zealot would be talking like a trader?


Tue, 01/28/2014 - 15:26 | 4376373 fonestar
fonestar's picture

Supposing fonestar wanted to move Bitcoin prices he would blog at BTC-E or maybe create some fake accounts on Reddit.  Would not waste time with the head scratchers on Zerohead.

Tue, 01/28/2014 - 15:31 | 4376402 pods
pods's picture

Wow, sounds like the currency of the future there big guy. If a couple of Reddit posts can move it I guess I am safe in avoiding it.


Tue, 01/28/2014 - 15:32 | 4376409 NotApplicable
NotApplicable's picture

But if fonestar wanted to smear bitcoin amongst those head scratchers who might otherwise be inclined to view bitcoin as a fiat alternative (ala "goldbugs"), well... I'd say fonestar isn't wasting any time here at all.

That said, I now realize that the "e" in your name isn't silent after all.

Tue, 01/28/2014 - 16:03 | 4376522 Occident Mortal
Occident Mortal's picture

Why are you talking in 3rd person?

Are you trying to sound like Bob Dole?

Tue, 01/28/2014 - 16:26 | 4376536 pods
pods's picture

Third Person Tuesday, although fonestar speaks like that all the time.

Pods on the other hand, only speaks like that on TPT.


Tue, 01/28/2014 - 18:01 | 4377003 AGuy
AGuy's picture

"Supposing fonestar wanted to move Bitcoin prices he would blog at BTC-E or maybe create some fake accounts on Reddit. Would not waste time with the head scratchers on Zerohead"

Sounds like an excellent plan! Please spend all of your time at BTC-E instead of ZH!


Tue, 01/28/2014 - 14:50 | 4376157 stock trout
stock trout's picture

Where has Satoshi gone? Didn't always agree but he adds (or added if banned) interest to ZH. 

Tue, 01/28/2014 - 15:16 | 4376196 Grande Tetons
Grande Tetons's picture

Satoshi and Rand had a nice battle the other night.  Kinda got ugly.

The early rounds went to Satoshi, however, Rand came back with some furious late round action....enough to win on points, IMO. 

Tue, 01/28/2014 - 15:44 | 4376452 fonestar
fonestar's picture

Faketoshi can go to hell and take his bags of rice with him.

Tue, 01/28/2014 - 15:50 | 4376468 Blano
Blano's picture

He sure has (allegedly) gotten around, I will say that.

Tue, 01/28/2014 - 15:05 | 4376264 scattergun
scattergun's picture

Is there any way to put fonestar on "Ignore" so his comments do not appear on my screen?

Tue, 01/28/2014 - 15:08 | 4376265 scattergun
scattergun's picture

oops doubletap

Tue, 01/28/2014 - 14:43 | 4376112 Grande Tetons
Grande Tetons's picture

Sorry, Fonestar, this shit is coming to Canada. Starting in the socialist east and moving west. Tell your friend(s). 

Tue, 01/28/2014 - 14:59 | 4376232 fonestar
fonestar's picture

fonestar ne comprends pas?

Tue, 01/28/2014 - 14:46 | 4376119 Gringo Viejo
Gringo Viejo's picture

"...and now....they're coming for your Social Security money..they want it give to their criminal friends on Wall Street. And you know what? They'll get it all from ya....because they own this fuckin' place".....

Miss ya George.

Tue, 01/28/2014 - 14:51 | 4376162 Grande Tetons
Grande Tetons's picture

Plus a million. 

George Carlin. There was a man with vision and the balls to speak the truth. 

Tue, 01/28/2014 - 15:36 | 4376389 Offthebeach
Offthebeach's picture

George Bush proposed the same-ish thing . Only instead of your slave chits going to The Treasury, they would be thefted into fascist friends of big gov, friends of FedReservCo. No cake today, cake tomorrow. So give up slave the irreplaceable hours and days and decades of your life.....and you'll always have a corner on the abattoir floor when you're old. Real old. Like dumped in a wooded lot, naked, stick boned, ObamaDental gummed old.

Tue, 01/28/2014 - 15:54 | 4376490 Chaos_Theory
Chaos_Theory's picture

Yea, he also proposed Medical Savings Accounts.  Who the fook can afford $12,500 to $25,000 annual medical expenses?  What's next, large out-of-pocket expenses along with monthly premiums and co-pays in ACA plans? Oh, wait...


Tue, 01/28/2014 - 14:29 | 4376005 kliguy38
kliguy38's picture

where can i buy.........

Tue, 01/28/2014 - 14:50 | 4376148 Cursive
Cursive's picture


Rumor is that the number to call will be 1-800-277-7273.  If you need a pneumonic, that's 1-800-ASS-RAPE.

Tue, 01/28/2014 - 14:57 | 4376222 WTFUD
WTFUD's picture

Any nationwide Target store! Digital pin numbers only need apply.

Tue, 01/28/2014 - 14:38 | 4376007 Levadiakos
Levadiakos's picture

BREAKING: Obama to hold post State of the Coup party at Club Probe

Tue, 01/28/2014 - 14:35 | 4376048 Bangin7GramRocks
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Turning Japanese I really think so. Time for the Great American closed-loop circle jerk!

Tue, 01/28/2014 - 14:52 | 4376178 mr1963
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I'm a big fan of the word "could," especially when used in conjunction with "sometime in the future." I'm certain ponzi schemes always suggest you "could" redeem for cash "sometime in the future..."

Tue, 01/28/2014 - 15:21 | 4376345 Occams_Chainsaw
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Just following orders from the boys at Davos....

Tue, 01/28/2014 - 16:15 | 4376580 Loucleve
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The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams........

Financial scams?  You mean like "inducing" someone to buy Treasuries at decades low yields?  You mean like when no one else on the freaking planet wants to buy them, you get the individual sucker to do it?

God they must be getting desperate now.  Sounds like Japan to me.

Tue, 01/28/2014 - 21:49 | 4377855 A Nanny Moose
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Wait for it....

Tue, 01/28/2014 - 14:27 | 4375987 TeamDepends
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Somewhere over the rainbow....

Tue, 01/28/2014 - 14:42 | 4376098 dontgoforit
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Skittles and chocolate-flavored g-strings.

Tue, 01/28/2014 - 15:06 | 4376271 Billy Sol Estes
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In the arrrrrrrms of an angel, fly awayyyyyy from here..

{roll footage of depressed citizens getting rammed in the stinker}

Tue, 01/28/2014 - 14:29 | 4375991 Pladizow
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What am I missing, how is this different from what anybody can presently do inside of a qualified plan?

Tue, 01/28/2014 - 14:31 | 4376014 ebworthen
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It's a carrot on a stick that forces people to buy Treasuries versus other choices.

It will be part of a larger bait-and-switch; get people to give their money to .gov, then change the rules.

Tue, 01/28/2014 - 15:06 | 4376273 reload
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exactly: once you are in the paper will morph into zero coupon perpetuals at a time of .govs convenience.

Tue, 01/28/2014 - 15:34 | 4376413 Mercuryquicksilver
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Its more insidious. Create a national retirement then absorb all private retirement accounts. Because "Patriotic"

Tue, 01/28/2014 - 19:18 | 4377310 palmereldritch
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Think of them as war bonds, a form of patriotic support for Obama’s new War on Muppets to be unveiled during the SOTU


Tue, 01/28/2014 - 14:32 | 4376018 Hedgetard55
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It doesn't differ, it is for peeps that do not have an IRA offered by their employer.

Tue, 01/28/2014 - 14:54 | 4376198 Cpl Hicks
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They would be better off stashing that cash in an old shoebox and hiding it under their bed.

Tue, 01/28/2014 - 15:09 | 4376277 Billy Sol Estes
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Or burning it. It would increase the value of their remaining stash.

Tue, 01/28/2014 - 14:42 | 4376107 dontgoforit
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Gubmint speak.  Say something old and make it yer own!

Tue, 01/28/2014 - 14:52 | 4376166 madbraz
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Did you ever see a 401K or a financial advisor offer treasury bonds or a treasury bond fund as an alternative?  Very rare.


The average retail investor and 401k investor has close to zero allocation to government bonds.  This allocation should grow in a deflationary environment, much like in Japan.  This will be a killer for risk assets in the long-run, from high yield bonds to stocks. 


This is actually a good move, despite coming from BO.


What most don't realize is that right now the government has zero worries about our debt, and the Fed worries about long rates going down, not up.  If one day the have to worry about our debt, then they will have to pick between risk assets (stocks) and government funding (treasuries).  They will pick their own funding.  


It's all doom for the stock market in the next 10 years.

Tue, 01/28/2014 - 14:59 | 4376231 Cursive
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Uh, I'm preeeety sure the Fed is worried about losing control of the long end of the curve, i.e. long term interest rates rising.

Tue, 01/28/2014 - 15:11 | 4376289 Billy Sol Estes
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PIMCO offers them in their PISS fund.

'PIMCO Inflation Sensitive Strategy'

Tue, 01/28/2014 - 14:57 | 4376214 Cursive
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It'll probably be something sugar-coated like a tax credit for people under a certain income threshold.  Bush II had something similar called a "saver's credit" and it was limited to AGI under $50k.

Tue, 01/28/2014 - 14:28 | 4375992 fonzannoon
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well that was quick....

Tue, 01/28/2014 - 14:38 | 4376075 Skateboarder
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"allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into a traditional IRAs"

Waiting for Godot.

Tue, 01/28/2014 - 14:28 | 4375993 NotApplicable
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They're gonna fall prey to a financial scam, all right!

Tue, 01/28/2014 - 14:58 | 4376224 Greenskeeper_Carl
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no shit, you beat me to it.  The ulitimate financial scam. What a fucking joke. It actually is hilarious, the people in this country are so hopelessly stupid, they will VOLUNTARILY (now, until it is mandatory) lend money to the most debt-ridden entity in the history of the world, and get 2-3% interst. pretty funny to hear the people of said entity accuse others of a 'financial scam'

Tue, 01/28/2014 - 21:53 | 4377878 A Nanny Moose
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pretty funny to hear the people of said entity accuse others of a 'financial scam'

Government is the ultimate paradox. Period

Tue, 01/28/2014 - 14:41 | 4375994 Levadiakos
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Obama will also release doves on behalf of the Pope and an unabridged Pete Seeger DVD box set

Tue, 01/28/2014 - 14:28 | 4375996 the grateful un...
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voluntary economic repression, beat me, whip me, make we write bad checks

Tue, 01/28/2014 - 14:29 | 4376001 The_Ungrateful_Yid
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If you want to keep your retirement let us have it.

Tue, 01/28/2014 - 14:35 | 4376059 Unprepared
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... nobody needs to get hurt.

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