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Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World
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.
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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http://www.youtube.com/watch?v=n9WClv4U5B8
we can do this the easy way, or the hard way.... someones givin up some booty
Keep your hands off my money, motherfuckers.
When fraud is the status quo, possession is the law. They can't steal what they can't touch.
Fuck yeah! Thank you for saying that, people need to understand this fact. I'd rather be shot dead in the streets than willingly give up everything.
In regards to that, possession being 9/10 the law (or so the saying goes), let them come after you for money owed. If our court systems upheld the law in acuality, fight any loans you have. I'd bet more money than the loan is for that they can't even produce a single document with your name on it. Recently fought a student loan company stating I owed them $14k and I asked for documentation of said "proof" of defaulted loan, few months later that loan is off my credit record and haven't received a letter or call from them in over 6 months now. The entire system is a sham and people need to just fight back against it smartly. (more went into this than I feel like typing)
A friends daughter was successful in doing the same.
Good on ya both!
Perhaps, but there is another simple solution, don't owe anybody shit. Stay the fuck out of debt to begin with.
+1
For... the obvious.
I'd vote you up a thousand if I could. But as it is, my voting on ZH is encountering some kind of technical difficulty... at times.
Should I get serious about pulling my 401K?
Hard to beat a jar of gold coins buried in the back yard. I love telling that to every wannabe financial planner I meet. They laugh now ......
---But they won't be laughing then.
No, they won't be laughing then. They'll be thinking about feeding their families, and remembering the guy wh boasted about his jar of gold coins.
Run silent and run deep = much better strategy.
very true, very true. Silence is golden; so to speak. And wisdom is always quiet.
Thats OK because I have a huge backyard and way more hand guns than I have hands. Even so, most of those financial types are self absorbed and they would not remember a single thing said by someone whom they were unable to extract a fee from.
I was just thinking that. Makes the precious SHINE a little brighter today.
I'd be happy if someone could find Fonestar and bury him in their backyard, Bitcoin wallet and all.
Hard to beat a jar of gold coins buried in the back yard. I love telling that to every wannabe financial planner I meet. They laugh now ......
Is it bcause they think your crazy, or seem like they STILL don't get it. I have no clue why they would find this FUNNY,seems like they would take you seriously.allow me to tax defer current income and the 1.64% yield on my bond fund until such time as taxes are much higher? Gee, thanks bytchez.
Are you Americans this stupid. Wake the FCUK up people!
I think that is well established that the average person ain't that bright, and half the population is dumber than average.
+1 for a Carlin Quote
LOL, I wasn't actually quoting Carlin, but I can see that being something he would have said.
Yogi Berra would've said 90% of people are half-stupid.
half the population is dumber than average? OMFG. It's worse than I thought. do you have a link for this data? was it researched carefully?
One in three Americans are in the bottom third of intelligence.
These people are so challanged that they can't get a fork full of food to their mouths. The forks upside down, the peas roll off. It takes forever to fork up the soup. They miss their mouths and stab their cheeks, or find their mouth and stab their tongue. Coupled with the slack jaw mouth breathing .....
So, now you know why fast food is paper wrapped.
From what I have seen, most Europeans already eat this way, as illogical and unbelievable as it may seem. Although how ANY idiot cannot instantly figure out that the fork tines curve upward for a reason is quite beyond me --- eating with the tines downward is as ludicrous, and just plain stupid, as trying to dig a hole with the handle end of a shovel.
(facepalm) So that's why it's taking me so long to bury my PM's...and I bet raking leaves will go a lot faster now too. Thanks!
Every demo has its come-in-its-raining crew.
you have it backwards. half the population is above average intelligence
my research paper on it is waterproof and has been peer-reviewed, of course
My Researchers have been waterboarded and the article has been pear reviewed, of course.
There fixed it for you.
Prove it !! I think at least 80% of Americans are smarter than the average. By the way, what time is Dancing With the Stars on?
Note that it's for "first time savers," whatever dafuq that is.
Dear Youth of America,
Please invest in your retirement by financing the next war at incredibly low rates!
Signed,
MIC
p.s. Also, drones. We're gonna need lots of them in order to keep you safe from turrurrrusts.
Murican's Stupid you asked? You betcha!
Front running financial repression and fraud is the only "investment" option left? Let me be clear; get the fuck out. I hear that the Caymens are nice this time of year.
You won't be able to hide anywhere. The only course of action is to refuse to do any work once they start takng everything.
Bullshit. I have plenty of physical, defensible assets and a very dependable tribe. I remain long sharecropping...
I just finished prepping a ~500ft2 addition to my garden. I'm going to three sisters that bitch.
I'd rather be in the Cayman's than in a caimen.
The government cannot balance their budget and they think they can manage peoples money. This is TOO FUNNY.
Luckily for them, minor details such as budgets matter little.
FUCK YOU
You mean like buying treasuries when the CPI is understated to make the politicians look good and real yields are negative? Where do I not sign up?
Buy War Bonds!
Like many others here, there seems few things as worthless and heart breaking than telling the sheep that they are about to be sheared. bleh! bleh!
I just told my coworker in the next office about this since he's an e-trade baby trader.
He looked at me like I was crazy.
I will have the last laugh as I shuffle 1 oz. perth bars and 10 oz. Silvertown bars in his face when his retirement accouns are grabbed for the "common good"
Mark my words as soon as the accounts are up and running the stock market is going to crash like 1929 with the government stepping in and offering to make everyone's lost 401k investments values whole in turn for giving them up and taking a Treasury IRA plan instead. It is not like they have to pay it all out at once, they can extend and pretend this shit show for a lot longer then the government trust fund to limit access to monthly payments out of the IRA are coming next for retiree's like Social Security monthly checks. This is where they slam the trap door shut in hog hunting cage on private saving plans for retirement by collapsing the whole fucking mess.
It's a mighty big cookie jar. There's no way the government won't get caught with its hand in that jar.
When the Treasuries come due they set up the Trust Fund to reinvest them back into Treasuries and to pay for others who are retiring and at the same time limit how much you can take each month once you retire through the Trust Fund like a monthly Social Security check while blowing the bullshit that it is to reinvest what you saved when retire to keep generating that same check as the original savings dry up until you die. This is classic Marxism being rolled out here. The plans of course are going to voluntary at first then you collapse all the 401k's with stock market to corral the herd into Treasury IRA's as the only solution you offer to make their lost savings whole afterwards.
They were always coming after your savings it is low lying fruit and too tempting to not go after and this is how they are going to do it and make you go along voluntarily at the same time. This is classic arxism choke the supply off then offer the solution and only one solution (your solution).
You watch and see they sell this whole thing using classic Marxist prattle class warfare propaganda like income inequality and the state needs to provide for it's citizens fairness prattle (with the unspoken by taking control of their savings).
Treas are like IOU central
Worse than paper gold
Treas are like IOU central. Worse than paper gold"
Wow! that has got to be the understatement I've heard this entire year! /humor
dewey, you would make one helluva go player.
this strategy would most definitely buy the FedGuv enough time until the demographics kick in. the key to its success is having enough of a buy-in. but that's what Fear ala Bernays is for. will be interesting to see how the choices that will be offered up will be presented, all voluntary of course.
It is worse than that and more insidious. How do you keep the baby boomers from overthrowing the government and revolting. You force them to cut their own throats in the process by voluntarily forcing them into Treasury IRA's. These people are entitled to their savings, they worked for it damned if they will give it up now even if it means sacrificing their freedom. That is the mindset they are playing the fear factor on and it will work also for those still heavily invested in paper for their savings through 401k's, stocks, etc.
The other thing is this you have about 2T in Treasuries maturing in the next 2 years.
http://www.munknee.com/the-64-trillion-question-is-when-and-how-does-the...
If you can clip 2T this way you can essentially avoid a default on payments using the savings clipped when the market is crashed on purpose.
The other wildcard are interest payments to service the debt load.
http://globaleconomicanalysis.blogspot.com/2014/01/when-will-interest-on...
If they can clip enough for these at the same time then the government can claim they are spending less on the budgets without reducing spending while making it seem like they did. They just moved the payments from collecting revenues aka taxes and itemized on the books aka budget proposals and shifted it off books and directly on the taxpayers backs without having to itemize it. They can extend and pretend this shit show alot longer when doing this plus if they can't steal enough it still makes for a nice slush fund/backup if they have to itemize the interest payments still and lose control of the interest rates of the Treasuries to cover from defaulting.
but wouldn't this require a larger buy-in than just the boomers?
maybe bail-in's will become buy-in's through the FDIC mechanism?
If you blow up the stock market it won't just be the boomers buying in. There are a few gen X'rs and Y'rs with enough to lose who may take the bait also. They don't have to bail anything in at this point they only promise to make it whole and worry about actually making it whole when the bill comes due a couple of years down the road. What wasn't actually nuked is used to pay off debt now. Whatever shell illusion trick they use to make it look whole is not really important at this point. They can worry about stiffing what they owe you later down the road, that is where limiting monthly payouts comes in as one option.
You know which Marxist PHD genuis is most likely culprit behind this Treasury IRA idea.
Lack Jew himself.
In case any one forget about his Harvard Commrade thesis.
http://www.zerohedge.com/contributed/2013-02-28/jack-lew-social-security...
I'll quote ZH's own Bruce Krasting here from the article.
Social Security is "only a beginning” in an “embattled struggle for social insurance.” Yikes! Sounds like Marx? He goes on: Meeting that obligation would require the government to guarantee retirees a fixed amount of money to live on. That sounds "Commie" to me. JL agrees: The specter of Communism, made that kind of solution (progressive taxation for SS) unlikely. So as a kid, JL was writing like a Pinko, what was he thinking? “Communism at home and abroad became the target of exaggerated fears” This was 1978, the Cold War was on. Vietnam was over, but still a very raw wound. Not at all unusual for Harvard types to be leaning down the left fork of the road. JL concluded that the fear of Communism would not allow congress to achieve his dream: Government had an obligation to guarantee, or share the cost of guaranteeing, a minimum income for any American. How would you describe that philosophy? "Communism" does come to mind....
...
Everything I laid out is right in line with this thinking of ole Lacky there and he just happens to be the head of the Treasury and sure as hell had input into this whole Treasury IRA idea.
it won't just be the boomers buying in :: i realize that, i was just wondering out loud if there is a more sneaky & insiduous method potentially being developed besides a full-on broad market implosion.
limiting monthly payouts comes in as one option. :: well, this lines up with dave's obsession with the bitcoin blockchain potentially becoming a statist tool for a means-tested total resource control. his latest is quite chilling:
http://tradewithdave.com/?p=20035
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
I think by blowing up the system they can chase about 2T in actual not nominal value or so into Treasury IRA's with a number that large invested in saving between the panicked losers and those who lose their stomach for the market after it happens. I'm sure they will extend the enrollment to everyone to roll over their savings not just those looking to have their investments made whole when the time comes.
Bitcoin well the block chain is not optimized for fast payouts to begin with. It is one of the weak links in the system since other coins are a lot faster to the point priority payouts are not really an effective statist or otherwise tool. They can't limit the amount of the payout period the way it is set up unless you give .gov full control of the blockchain itself.
+1
Thanks for that. Interesting.
First step(maybe tonight) will be locking in the money until
retirement age.Then compulsory purchase annuities invested in ...
UST's. for the income stream.
Do not scare the livestock before slaughter, the meat spoils.
Don't forget that once they are locked in they become non-transferrable and non-inheritable until maturation.
Oh your mom died at 59? NO inheritance for you for all that 401K money she transferred into Treasuries.
Did anyone in Poland actually lose any money? Did they get Corzined? Because I don't remember seeing anyone in Poland with pitchforks and polish politicians swinging from lamp posts for skanking their citizens retirement accounts.
Has to be one of the below:
i) it either didn't happen yet.
II) it happened and they took it like weenies.
III) it happened and they were convinced of yet another scheme to get them out of this one.
The last one seems likely.
Lots of Polish retirees moving into the five boroughs, Fonz. I see it with my own eyes.
This is their local mediator:
https://en.psfcu.com/
can u please ask them if they got skanked? and if so, where do they plan on moving next once we skank them? I want to get ahead of the curve.
The old Polacki who recently moved into the 3-bedroom frame house with oversized-lot and basement apt. across from my bus stop bought it for $650k, then gut-renovated it, then gave it a new stucco overcoat and brand new asphalt roof, with all the fittings to boot. He is alone, at least 70 years old, and I watched him for 6-months straight for 5-10 minutes each morning bark directions to his 100% Polish hires. He keeps a flower garden, a vegetable garden (mind you, I'm a five-minute drive to Manhattan off-hours), and an immaculate sidewalk, and a beautiful purebred German Shepherd quietly lords over the grounds for his master.
I am not a certified financial planner, nor am I a lawyer with access to investigators, but here is an example of a wealthy - or at least cultivated - man moving into the neighborhood from Poland. I can provide other examples, of course anecdotal but I don't need to tell most around here to take anecdotes with a grain of salt. It's just my "eyes on the field", as they say.
people right now are fine, they didnt get corzined, so no pitchforks yet cuz people probably won't realize how bad they got screwed until a later date. My underatanding is that current benefits wont change much, but future benefits pretty much hinge on the solvency of the polish govt. Which doesnt look good, since solvent govts don't do shit like that in the first place
Problem is, they don't have a later date, it hanging judges show time bitches! And show time is no time for changin your mind.
Oh, FUCK NOooooooooooooooooooooooooooooooooooooo...
Let a small family owned private bank in Austria manage your retirement account for you. the word you need to look up is "Anstalt". they'll dust off your silver bars every once in a while; I doubt if they'll need any further managing.
"Let a small family owned private bank in Austria manage your retirement account for you."
No thanks, Every now and then Austria gets invaded and it's wealth plundered. The last time was in 1945!
I rather let the backyard garden manage my retirement account instead. Plus I get fresh veggies for free!
Great, another .gov "for our own good" savings plan full of IOU's.
If only they had a lockbox...
I don't get it, in what way is this different from my having an IRA and using it to buy treasury bonds?
Which btw is like a really bad idea.
Sounds like total bushwah.
I did not get it either. someone pointed out to me that the difference is they buy the bonds directly from the government. It's retarded either way. how many people out there have an employer that has no 401k plan that have money to put away and are just dying to buy bonds...when they can open an IRA and buy facefart with the bernanke put behind them?
This seems like a nothing burger.
Question is, will this disaster have an "employer match" attached to it?
Gotta have flow, ya know.
absolutely, and that employer is named the FED.
but if they buy them directly from the govt, how do jamie and lloyd get their cut? Cuz when i read it my first thought was they will still involve these big financial institutions in some way. There is no way our politicians are gonna cut out their owners at the TBTF institutions
The over/under on how many people open up this plan is 3. i will take the under.
non event
I'll take the over because the number of stupid, blind idiots in this country is way beyond 3.
The captain's want the crew to go down with the ship so they don't have too!
It's six months or who died and left the Judge Maestro?
I would imagine some third party intermediary must be invloved too. If it was a direct deal between the citizen and the gov, then the gov would have noone to scapegoat.
On a long enough timeline the survival rate of your investments drops to zero
But most of the sheeple that will buy into this will demand they get the TBills for free.....like an Obama Phone....they will not pay for them...
-T-Bills, a -T-Mobile exclusive offer?
To those who have much, much will be given. From those who have little, even the very little they have will be taken from them.
Jesus Fucking Christ they are some brazen cocksuckers. I suppose they're of the opinion that people are so tranquilized with TV, porn and Pfizer that they'll just agree to anything. They'll roll over at the airport and let some turd grope their wife and kids, hop in a radiation "security" booth and bast their organs with fuck knows what, microwave their food, brush with Fluoride toothpaste, take flu shots, and call cops Sir, so why the fuck not just barf up even more of your diminsihing, anemic wages to the Fuedal Lords of DC for future confiscation?
Please sweet baby Jeebus, delete my goddamn social security number.
Opinion, or fact? Most won't even understand that it is theft, much less understand why it is theft.
Okay, we're doomed.
I had a discussion with an older family member when the story about doing away with the penny came up. I found it ironic; him, less than humorous. He stated:
"They have to do that because it costs so much to make them!"
My reply: "Why is this so?"
Talk about the 1%. Most have zero idea, and I would even say the ability to comprehend the debasing of our currency. They can see rising prices, but cannot see currency depreciation.
That is why this system has worked so well. It has stayed unseen right in front of our eyes for one hundred years.
pods
I just wish they still made pennies out of copper. But since they are tied to the dollar, this is just another case of bad money chasing out good money.
Yep, but he was an amateur coin collector and understands costs, and had war pennies, so he had to know the cost of inputs. Just probably didn't want to realize he had been had his whole life.
Reminds me of The Matrix. There are always gems in that movie that translate to the real world:
"We never free a mind once it's reached a certain age. It's dangerous. The mind has trouble letting go."
This is so true, because in order to realize the truth, you have to realize what you KNEW was a lie. And nobody, especially those who are older, will want to admit this.
pods
very true. Why is it that dimes made before 65 are worth 2 dollars? but ya, older people do have trouble, even otherwise very intelligent people. They don't want to admit that they have spent their entire adult life as chumps, being lied to and misled, and falling for it every day for many years. So, they refuse to admit it, and are often angered when the truth is thrown in their faces. As my dad says, 'whats your point, what does reading about all this stuff do for you?" he calls it my 'mental masturbation'
Being that my dad was born right around the beginning of the cold war, I notice that he very often slips back into cold war thinking. When it comes to Putin snubbing us, he'll start going on about what our response should be. Every once in a while I'll simply state "He already has a good idea of what we have. What good would all of that posturing accomplish?" I get a confused look from him. I think it's more than just denial in many cases, because I have him partially convinced of just how fucked things are. (He still cannot comprehend the USD not being the world reserve currency though.) I think there are also patterns learned that must be unlearned, which is a different thing than denial. I'm not arguing that denial isn't a big part of it, just that I think there is more to it.
its also tough to break people of the investing pattern. The old 'buy and hold' is a thing of the past, at least with stocks. my dad helped me put 3k into an IRA when i was 18, the first time i was elligable. It is indexed to the S&P, and he showed me what it ould be expected to do, and especially what it would do at 10% a year, forever. Now that 3k is worth almost 7, slightly more than it was worth 10 years ago. When he begaun asking why I insisted gold and silver were better long term investments, I showed him what 3k worth of gold and silver purchased in 03 would be worth today, even at todays low levels. I could have had a monster box of silver eagles, plus some, for that money then. And the IRA will probably be back down to the original 3k in the comin years. I then point to our debt and orgy of printing. He is relativly well off. Not a 1%-er, but prety close, and has worked hard all his life. Couldnt convince him to just trade some of his stock holdings for a tube of AGEs. thinks the whole thing is silly. he says if you want to buy gold, just buy the ETF, that way your gold can't be stolen when someone breaks into your house
Yeah, much better for them to not even have to break into your house to steal it. I have the same problem explaining the situation to my father.
Yeah, much better for them to not even have to break into your house to steal it. I have the same problem explaining the situation to my father.
Warhead,easy answer, ONE you don't own it if you don't possess it, and TWO, who say's you keep it in your house?.
dupe
+1
For... Gen. Jack Ripper.
thinks the whole thing is silly. he says if you want to buy gold, just buy the ETF, that way your gold can't be stolen when someone breaks into your house
Does he not get it, you/he would HAVE no Gold to steal with a ETF?.
>>>>This is so true, because in order to realize the truth, you have to realize what you KNEW was a lie. And nobody, especially those who are older, will want to admit this.
Sometimes life has a way of forcing this on you. A real kick in the nads and then your head blows up. All things are forever questioned thereafter.That's why it's known as the "hidden" tax on wage earners and savers. The Fed and USG have pretty good propaganda from the schoolhouse to the editorial board.
Or worse, they'll believe they're stealing from someone else.
++for the silencer. excellent tool.
Silencer, sorry we can't, the NSA will not allow it.
I hear they will be comming around with the TattoMobile to do it on your arm.
Its better to buy some land in say Alabama, drill two wells, one for water, the other for Natural Gas, plant a garden, chop wood for excercise and campfires and avoid Magazine subscriptions.
Silencer, sorry we can't, the NSA will not allow it.
I hear they will be comming around with the TattoMobile to do it on your arm.
This probably isn't too far from eventuality. More likely a chip implant will be the case, the ultime goal to control the rabble. Step out of line, shut your chip's access to your digital currency right the fuck off, a little gift from the cashless society.
As for Alabama, I need to learn their language so that I may one day rule them.
Somehow both your first & last sentences are not condusive for the granting of your request.
LOL
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.
I find it humorous the way Richard Cordray attempts to make it look as if his hands may be tied by law. These Crony thieves have already made the decision " All your monies are belong to us "
http://www.youtube.com/watch?v=-DT7bX-B1Mg
>>>>U.S. Consumer Financial Protection Bureau
Affordable Care Act.
Consistant pattern here.
Maybe if they named the next bill passed the "Gigunda Poke In The Whiskers Act" things might be lookin up.
Yeah...I thought about what you wrote...You are right. Why teach the homeless?
We really need to be teaching the children instead.
That way they can throw off the shackles of statism.
Another back-door bank bailout in this bullshit somewhere.
Of course this is it! JPM just left the Food Stamp Business. Next up the mandatory Retirement Business.
This IS a back door CENTRAL BANK BAILOUT
Dear Silencer,
I give you a gazillion Up Votes raised to the gazillionth power, multiplied by a gazillion, etc.....
WTF is a "first time saver"?
No need to answer - it was a rhetorical question -
The fact the POTUS uses this term tells you what the state of the union really is.
Often refered to as a Mark, in some circles.
Must be the same Millenials Jimmy Moran lamented for not buying "affordable" health insurance on the ACA marketplace. The same ones up to their eye-balls in student loan debt, service-economy jobs, and yet somehow enough cash for their iPhone and data plan.
Bend
Over
Here
It
Comes
Again
And they'll assure everybody that they are going to give them the common courtesy of using lube. What they won't tell them is that they've salted the lube with sand.
"The devil's lube is spit. Trust me, you want the lube."
So say's Charlie Harper's drinking buddy who just past and is "visiting" Charlie. From Two and a Half Men.
http://www.strike-the-root.com/foul-smell
Indicte him. Arrest him for treason. Impeach him. Don't let him get away.
Wouldn't it be neat if the cops show up and arrest and cuff him tonight during his speech.
Well, probably won't be anyone watching anyhow.
No prob
It would be on YouTube for sure
Hidden in the fine print will be SEIZURE if the government decides you owe it money or it needs it more then you do.
Leave it to America will show the rest of the world what a bail in really is.
im sorry whats a saver?
Someone who doesn't go over their credit limit.
what's a credit limit?
It's what your King is bitching about.
LOLOLOL yeah read that this morning....off with their heads!!!!
A saver is the jerk who is stuck with the Bill for saving the Government...A TAXPAYER and SLAVE in other words.
That is what a saver is.
Remember...as the kind clerk in the Grocery Store will remind you...The more that you spend the more you SAVED.
Words in parenthesis in the following dialouge are better left unspoken in any dialouge with the airhead sales clerks at Grocery Stores...
Clerk: "You saved $5.89 today."
Me: "No I did not. I SPENT $135.57. I did not save anything."
Clerk: "Yes you did. Your bill COULD HAVE BEEN $141.46."
Me: "But my bill was NOT $141.46. It IS $135.57. Please do not tell me something which could have been, might have been, or should have been as those are not states of REALITY."
Clerk: "But the more you spend then the more you save."
Me: "Enjoy your trip to Disneyland (The Jail of your own mind.) Have a good day in Fantasyland. (That is since you are not operating in the realm of REALTY.)"
Clerk: "Huh???"
Someone who hasn't paid their mortgage in say....7 years
the Savers will save us
when we bail them in
"President Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement."
I didn't know Obama was going to be on SNL tonight. LOL
And the second half of this program is to let the people trade in their gold for US Treasury bonds tax free! What a deal!
Why anyone would let these dumbasses manage anything is beyond me.
Yet here we are and they're running the whole damn country, and I'm just as guilty as all the rest of us.
+1 for your honesty and introspection!
Really??? This is the bonebrains answer? Not one word on how to fix things? More cover your own Asses? UNbefuckinlievable!
There is no hope
Hmmm, that $19.4 trillion just happens to cover the (reported) national debt. What a coincidence.
Obama introduces another let the state rip you off plan. Voluntary FOR NOW.
Goin japanese baby. All they need it is a few mass deaths of bond holders, thus no debt to pay back and they are golden. Why do you think the JP government is letting the Fukmemuch to continue to leak rads all over the population.
It's starting. now they're suggesting; next they'll be doing it for you; electronically; it'll be for national security. you are a patriot, aren't you?
it's happening all over the western world. they also want to do this over here.
And sure... it buys them about 15 years where they can spend like crazy but than everybody will be broke and the 1% will be insanely rich
But they're telegraphing their move on the chess board and you know how to counter it and be a winner; so no worries.
Bond Yields Plunge! No brainer. Efficient Market.
What percentage will the money mangers take in the form of fees from this retirement plan? We all know that people can't save for retirement without the help of active managers helping us reach our retirement goals. Since the defined benefit pensions were replaced with the 401K style pension, people have had more control over their investment portfolio and have had the help of fund mangers or even personal finance advisors if they choose to go that route. I am afraid Obama may be trying to push people into low return unsafe vehicles that will not be sufficient for retirees to enjoy the retirement lifestyle they are entitled to.
Funny question in the above article, Who will buy the T-Bills as the Fed steps back. Obviously that is "the question". Trying to push as many of these bills off onto the public is one scheme they will try. When T-Bills fail to get bids, as they will almost certainly, when the Fed reduces it's purchases, then market reality will make it's force felt. Since there are no, non manipulated, markets anymore, the Fed will panic and find a back door way to start buying up all the T-Bills again, most likley via using banks to buy them with unlimited printed green paper.
America would not last one instant as a world economy IF it could not print. The value of the printed money is due to the world accepting the paper as a store of value, even though it is backed by nothing. The day other people wake up to the value of the dollar and T-Bills, which together equal Zero, the US will be in the worst financial crisis since independence. The EU and the USA together are at this moment reaching peak arrogance, since money printing seems to have worked and seems set to work for many years to come, they have printed and used it for their imperial expansion and world wided police/spy state. Winning on almost every front around the world, the USA and EU think they are home free and are near to total conquest of the planet and corporate power has never been higher with their near total control of politics. When peak arrogance is reached, which seems to be NOW, the fall is in the works. Plenty of things can derail the USA/EU mega hyper power. Let's watch as this plays out over the next ten years, I sense something in the wind that will blow down the house of cards that is 2014 USA and EU.
>>>>>I sense something in the wind
Mycoplasma.
We all know that people can't save for retirement without the help of active managers helping us reach our retirement goals. -- Jack Burton
Seems to me, the active managers are part of the problem. My grandfathers had very specific ideas about what consitutued savings and wealth. The great depression (and subsequent war) left serious impressions upon their lives. And the more I see of the world, the more I appreciate their wisdom.
On a separate note, $94 billion in reverse repo today. We've had an average of over $80 billion in daily reverse repos for the last 5 or more days.
Something is very rotten in money markets. Maybe someone is a dead duck, much like they had in China, and the NY FED is keeping it afloat.
Total seems to be increasing exponentially in reverse repos.
The colateral base is not being accepted by the shadow banking system.
Another month at this slope of increase and something is going to
break very badly.
Over 460 billion in 5 days.
A month is very, very optimistic.
Rotten indeed!