This page has been archived and commenting is disabled.

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...

 

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 01/28/2014 - 14:28 | Link to Comment gafgroocK
gafgroocK's picture

 

 

Whelp, here comes the BIG Grab

Tue, 01/28/2014 - 14:29 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment InjectTheVenom
InjectTheVenom's picture

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

Tue, 01/28/2014 - 14:45 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

AND IT SHALL BE CALLED OBAMA-1-K, AND ALL WILL CONTRIBUTE HEARTILY AND DESPAIR.

Tue, 01/28/2014 - 14:50 | Link to Comment TeamDepends
TeamDepends's picture

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

Tue, 01/28/2014 - 14:53 | Link to Comment 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 | Link to Comment 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 | Link to Comment negative rates
negative rates's picture

He needs to have his head checked!

Tue, 01/28/2014 - 15:28 | Link to Comment dontgoforit
dontgoforit's picture

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

Tue, 01/28/2014 - 15:32 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

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

Tue, 01/28/2014 - 15:37 | Link to Comment 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 | Link to Comment WarriorClass
WarriorClass's picture

and the Republican response:  

Immigration Reform!

Tue, 01/28/2014 - 16:14 | Link to Comment gmrpeabody
gmrpeabody's picture

The O-K affordable retirement plan...

Tue, 01/28/2014 - 16:23 | Link to Comment 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 | Link to Comment 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 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

A muppet.

Tue, 01/28/2014 - 17:25 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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.

http://sherriequestioningall.blogspot.de/2014/01/check-your-401k-and-retirement-plan.html

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

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

Jim Cramer fans

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

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

Wed, 01/29/2014 - 03:05 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment insanelysane
insanelysane's picture

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

Tue, 01/28/2014 - 16:43 | Link to Comment 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 | Link to Comment 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 | Link to Comment rabbitusvomitus
rabbitusvomitus's picture

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

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

At this point they are all cardboard cut-outs.

Thing-1? 

Thing-2?

Thing-3?

Do you believe it really matters?

Tue, 01/28/2014 - 15:53 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Parabox
Parabox's picture

duplicate

Tue, 01/28/2014 - 17:54 | Link to Comment 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 | Link to Comment StandardDeviant
StandardDeviant's picture

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

Wed, 01/29/2014 - 01:33 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment TeamDepends
TeamDepends's picture

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

Tue, 01/28/2014 - 18:03 | Link to Comment 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 | Link to Comment El Oregonian
El Oregonian's picture

WE'RE ALL IN!.... TROUBLE!!!

Tue, 01/28/2014 - 15:19 | Link to Comment 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. 

http://sherriequestioningall.blogspot.com/2014/01/check-your-401k-and-re...

Tue, 01/28/2014 - 14:45 | Link to Comment kralizec
kralizec's picture

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

Tue, 01/28/2014 - 17:00 | Link to Comment bh2
bh2's picture

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

Tue, 01/28/2014 - 14:50 | Link to Comment redpill
redpill's picture

fed.gov: SPEND don't SAVE!  But if you do SAVE, buy TREASURIES!

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

So we can do the spending for you.

Tue, 01/28/2014 - 14:52 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Just enroll on our Website......

Tue, 01/28/2014 - 15:17 | Link to Comment XitSam
XitSam's picture

And, it's gone.

Tue, 01/28/2014 - 15:56 | Link to Comment wiseindian
wiseindian's picture

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

http://www.youtube.com/watch?v=-DT7bX-B1Mg

 

Tue, 01/28/2014 - 16:12 | Link to Comment 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 | Link to Comment kaiserhoff
kaiserhoff's picture

We will gladly pay you nothing Tuesday,

for your five cent fiat today.

Tue, 01/28/2014 - 15:35 | Link to Comment 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 | Link to Comment 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 | Link to Comment max2205
max2205's picture

LOLROTFF

HILLARIOUS

AGAIN...WHAT. WHO Is A FIRST TIME SAVER

Please protect me from YOU!

Tue, 01/28/2014 - 17:17 | Link to Comment Intoxicologist
Intoxicologist's picture

Someone who has been visited by the Tooth Fairy?

 

Tue, 01/28/2014 - 14:41 | Link to Comment NotApplicable
NotApplicable's picture

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

Tue, 01/28/2014 - 15:33 | Link to Comment 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 | Link to Comment jenniewadeguy
jenniewadeguy's picture

Awesome!  Totally awesome!  All right Hamilton!

Tue, 01/28/2014 - 14:34 | Link to Comment 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 | Link to Comment 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 | Link to Comment dontgoforit
dontgoforit's picture

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

Tue, 01/28/2014 - 15:52 | Link to Comment TruthInSunshine
TruthInSunshine's picture

+1 to One and Only for the lulz

We are living in surreal times

Tue, 01/28/2014 - 15:16 | Link to Comment 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 | Link to Comment rsnoble
rsnoble's picture

lmao!

Tue, 01/28/2014 - 14:31 | Link to Comment 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 | Link to Comment fonestar
fonestar's picture

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

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

That is a completely crazy statement.

Tue, 01/28/2014 - 14:46 | Link to Comment fonestar
fonestar's picture

Can't handle the RSBT eh?

Tue, 01/28/2014 - 17:07 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment fonestar
fonestar's picture

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

fonestar is a disruptive technology.

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

"fonestar is a disruptive technology"

Fonestar is a disruptive psychopath.  Fixed it for ya

http://en.wikipedia.org/wiki/Hare_Psychopathy_Checklist

Tue, 01/28/2014 - 17:44 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Levadiakos
Levadiakos's picture

So did I! Then he moved to NorCal

Tue, 01/28/2014 - 15:02 | Link to Comment gafgroocK
gafgroocK's picture

 

 

Shhhh...I retired

Tue, 01/28/2014 - 14:42 | Link to Comment fonestar
fonestar's picture

fonestar only lives to serve in Satoshi's name.

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

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

Tue, 01/28/2014 - 14:53 | Link to Comment fonestar
fonestar's picture

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

Tue, 01/28/2014 - 16:25 | Link to Comment atomp
atomp's picture

starting?!

Tue, 01/28/2014 - 14:47 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment fonestar
fonestar's picture

fonestar says a lot of things.

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

Up arrow for the Duffman reference.

Tue, 01/28/2014 - 15:18 | Link to Comment Skateboarder
Skateboarder's picture

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

Tue, 01/28/2014 - 15:20 | Link to Comment 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."

http://www.zerohedge.com/news/2013-11-21/peter-schiff-gold-vs-bitcoin#comment-4180313

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

pods

Tue, 01/28/2014 - 15:26 | Link to Comment 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 | Link to Comment 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.

pods

Tue, 01/28/2014 - 15:32 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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.

pods

Tue, 01/28/2014 - 18:01 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment fonestar
fonestar's picture

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

Tue, 01/28/2014 - 15:50 | Link to Comment Blano
Blano's picture

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

Tue, 01/28/2014 - 15:05 | Link to Comment 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 | Link to Comment scattergun
scattergun's picture

oops doubletap

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

http://www.investmentreview.com/news/voluntary-pension-plans-for-quebec-...

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 | Link to Comment fonestar
fonestar's picture

fonestar ne comprends pas?

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

"...and now....they're coming for your Social Security money..they want it back.....to 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment kliguy38
kliguy38's picture

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

Tue, 01/28/2014 - 14:50 | Link to Comment Cursive
Cursive's picture

@kliguy38

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 | Link to Comment WTFUD
WTFUD's picture

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

Tue, 01/28/2014 - 14:38 | Link to Comment Levadiakos
Levadiakos's picture

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

Tue, 01/28/2014 - 14:35 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Turning Japanese I really think so. Time for the Great American closed-loop circle jerk!

Tue, 01/28/2014 - 14:52 | Link to Comment mr1963
mr1963's picture

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 | Link to Comment Occams_Chainsaw
Occams_Chainsaw's picture

Just following orders from the boys at Davos....

Tue, 01/28/2014 - 16:15 | Link to Comment Loucleve
Loucleve's picture

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 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Wait for it....

Tue, 01/28/2014 - 14:27 | Link to Comment TeamDepends
TeamDepends's picture

Somewhere over the rainbow....

Tue, 01/28/2014 - 14:42 | Link to Comment dontgoforit
dontgoforit's picture

Skittles and chocolate-flavored g-strings.

Tue, 01/28/2014 - 15:06 | Link to Comment Billy Sol Estes
Billy Sol Estes's picture

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 | Link to Comment Pladizow
Pladizow's picture

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 | Link to Comment ebworthen
ebworthen's picture

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 | Link to Comment reload
reload's picture

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 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

Its more insidious. Create a national retirement then absorb all private retirement accounts. Because "Patriotic"

Tue, 01/28/2014 - 19:18 | Link to Comment palmereldritch
palmereldritch's picture

 

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 | Link to Comment Hedgetard55
Hedgetard55's picture

It doesn't differ, it is for peeps that do not have an IRA offered by their employer.

Tue, 01/28/2014 - 14:54 | Link to Comment Cpl Hicks
Cpl Hicks's picture

They would be better off stashing that cash in an old shoebox and hiding it under their bed.

Tue, 01/28/2014 - 15:09 | Link to Comment Billy Sol Estes
Billy Sol Estes's picture

Or burning it. It would increase the value of their remaining stash.

Tue, 01/28/2014 - 14:42 | Link to Comment dontgoforit
dontgoforit's picture

Gubmint speak.  Say something old and make it yer own!

Tue, 01/28/2014 - 14:52 | Link to Comment madbraz
madbraz's picture

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 | Link to Comment Cursive
Cursive's picture

@madbraz

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 | Link to Comment Billy Sol Estes
Billy Sol Estes's picture

PIMCO offers them in their PISS fund.

'PIMCO Inflation Sensitive Strategy'

http://www.pimco.com/EN/Insights/Pages/Responding-to-Inflation-A-Multi-A...

Tue, 01/28/2014 - 14:57 | Link to Comment Cursive
Cursive's picture

@Pladizow

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 | Link to Comment fonzannoon
fonzannoon's picture

well that was quick....

Tue, 01/28/2014 - 14:38 | Link to Comment Skateboarder
Skateboarder's picture

"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 | Link to Comment NotApplicable
NotApplicable's picture

They're gonna fall prey to a financial scam, all right!

Tue, 01/28/2014 - 14:58 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

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 | Link to Comment A Nanny Moose
A Nanny Moose's picture

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 | Link to Comment Levadiakos
Levadiakos's picture

Obama will also release doves on behalf of the Pope and an unabridged Pete Seeger DVD box set

Tue, 01/28/2014 - 14:28 | Link to Comment the grateful un...
the grateful unemployed's picture

voluntary economic repression, beat me, whip me, make we write bad checks

Tue, 01/28/2014 - 14:29 | Link to Comment The_Ungrateful_Yid
The_Ungrateful_Yid's picture

If you want to keep your retirement let us have it.

Tue, 01/28/2014 - 14:35 | Link to Comment Unprepared
Unprepared's picture

... nobody needs to get hurt.

Do NOT follow this link or you will be banned from the site!