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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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$2 tn would be the absolute limit.
The FedRes can only be giving out UST's in those reverse repos.
Nobody is going to take toxic RMBS as colateral.
So the only good colateral ls now UST's.We are moving down Exters
pyramid fast.
A big disturbance in the Farce comes this way.
While I don't disagree that these 'markets' are toxic at best, this is moreso due to the fact that overnight repo rates are at .02...just more yield at .03, especially with the 1 month bill yielding .025
And 'real' money GOFO rates are negative.
The POG .GOFO,and UST prices are shouting a cue for the fat lady.
Agree 100% on GOFO rates as I watch these daily along with short and medium term bond rates as well as SHIBOR. GOFO rates are all over the place but definitely trending towards the negative side of life. Shibor is very volitile with the only party able to control this is the PBOC (with periodic injections/intervention). SHIBOR spikes and then the PBOC adds liquidity, over and over and over. BTW, the recent announcement that the $500 million China Trust default set for later this week is going to get bailed out is bad news. Short-term, adds some stability. Long-term, you can never bet against available cash flow to service debt.
One other thought on the reserve repo environment which I thought I would offer. I understand most reverse repos would be offering T-Bills to the market from some type of collateral (what this is, only the Fed knows). But what if the Fed is actually having to offer cash with the collateral being T-Bills. Not an expert here but could this be happening and if so, just how bad are the conditions in the money markets?
Optional today.
Storm troopers kicking down your door for noncompliance tomorrow.
"Vay dit chu haff yur door opin, my drupps did't haff the plesure of kikkin it inn".
George Carlin said it best!
https://www.youtube.com/watch?v=Tt8_0MHo7-0
What has happened to a once great nation that the world once looked up to? With each passing (corrupt) day, America is slipping away. As an outsider, difficult to say Democray is actually working in America. Thank god for baseball though.
1913
http://www.criminalgovernment.com/docs/planks.html
This is a good plan, making young people buy the u.s. Treasury bonds. Somebody is going to have to want them when China. Don't want them anymore and the fed stoos printing lollars to buy them.
Amazing that the real scam is to divert these funds to the primary dealers, both in terms of management and then in terms of POMO.
This is still all about Basel III survivor circle-jerk.
$19 trillion is only worth another seven years of can-kicking.
Of course you have to have an actual job first in order to fund this Obama-scam.
Maybe they will have an option to fund via SNAP - The Crackers for Coffins Program.
Why not just make it a negative interest rate fixed annuity payable when you are 90 years old?
Between the inflation and malfeasance, it will be worth 1% of its NPV when these scammers are done with it.
Three more years of this and then another eight under Hillary.
What will this country look like by 2025? Will there even be a country?
S&P 4000, DOW 40000, unemployment 5 %, laborforce participation rate 50%, national debt 34T, unfunded liabilities 300T, QE17 at 200 B/month, gold 1300, silver 22
I have an idea - let's start with refunding the confiscated social security taxes, in exchange for a pledge to never ask the govt for any retirement assistance.
If more prople voted for ron paul, that would have happened already.
Actually I take this as a sign that the collapse is not as imminent as I have been thinking. This new plan will take some time to get rolling and it would take a few years to "sell" the idea and actually begin siphoning enough wealth to make it pay-off for them in a crash. The fact that they are just introducing this product to the sheep tells me they have plenty of time left to get as much of the masses' mullah wrapped up and tied in a bow before the great suck ensues.
They THINK they have plenty of time left; but what is their track record in predicting shit? Yeah, bad; real bad. Don't fall into believing what's convenient for you to believe. Prepare vigorously and purposefully.
Agree.
97 Senators voted for NDAA.
Makes one think they all saw something ugly when they looked into the abyss.
Protect your retirement account from terrorists--from Bloomberg.
"The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, ..."
Like the Federal Reserve and this Treasury IRA nonsense? Too late!
The irony is thick enough to walk on. Actually, I think I'll print that quote up and hang it on the wall. Either Orwell or HItler would have been proud of them.
Keep that QE pumping baby so the Primary Dealers can assemble teams to package CDS to pitch to everyone to protect against default of the their bloated, fat piggie 401K account stuffed to the rim with UST.
You're making minimum wage and getting 29.5 hours a week. Why not buy treasuries? Someone's got to pay for your foodstamps. Just ignore that fact that with inflation you'll actually be losing money and the fact the US is 17 trillion in debt. The president is a psychopath. How is this not obvious? Oh yeah our education system is a joke.
Are you such a dreamer, to put the world to rights? Radiohead- "2+2=5" http://youtu.be/lstDdzedgcE
According to common core, 2+2 does equal 5. Pres says so!
what time is this speech? I need to watch this con!
I would rather pluck out my own eyes than watch him
Do not look on images of the Devil; it will corrode your soul. consider only the things of God and not the things of the Anti-Christ.
You haven't seen enough cons out of this clown already?????
WTF I'm I missing. Why dont they just open an IRA account on there own???
The mean ol bankers wont let them in the door, that's why! This is a much needed Gov intervention.
Somebody needs to buy the Tresuries.
The scammer I worry about is a simiam wearing a suit with no birth certificate
so soon it will be illegal to not buy treasuries?
Guy earns twice minimum wage, say fifteen bucks an hour. After Obama Care, taxes and SS he takes home about twelve hundred a month. Yeah, ten percent of gross sliced off for Treasury bills leaves him nine fifty for his rent and other bills. Yeah, this could really work. Yup, we're heading on the right track with this smart idea.
This mythical guy has a marginal tax rate of nearly 50%?
Back of the envelope calucation complete fail.
$2500/mo gross minus $500/mo Obama Care minus 300/mo fed, minus $200/mo state, minus $150/mo SS, minus assorted bs deductions = $1200/ month. It's damn close moron.
So he is paying ~8.5% state income tax on 31200 annually? . There isn't a state where he would pay close to that with his annual income. More like half of that.
His effective federal tax rate would be less than what you listed too and this is if he doesn't have any personal deductions he can itemize. More likely about 70-80% of what you listed.
As for the Obamcare plan, that would greatly depend on his age and state. $500/month rate though is completely unrealistic for an individual coverage and the averages rates even found by Manhattan were half of that and that was unsubisiezed rates.
So basically his insurance bill would be half of what you posted, his state income tax would be half of that and his federal rates would likely lower and would be half of what you posted.
It still would be incredibly dificult to live on that amount depending upon where he lived in the US and what his living situation but your numbers are complete and utter BS.
If you are going to insult someone, stick to something that can be debunked with 5 minutes of quick checking d!ck.
http://www.bankrate.com/finance/taxes/state-taxes-oregon.aspx
Here's one state with an income tax at 9%. The one I live in, McStupid.
His Federal deduction would be as I stated, McUmbag.
His SS deduction will hammer him at 6.2%, about $165/mo, McUtter.
By next January he'll be lucky to pay $500/mo for health care. Probably closer to $650/mo, McJizzaro.
Maybe our 2X minimum wage single, apartment renting hero will take home closer to $875/mo after all the deductions, Mc5MinutesQuickCheckingMyDick. What if he pays $900/mo in child support, something you probably "couldn't conceive" of doing.
thank you mr president for the fantastic investment opportunity
i luv you nsa, cia, bis
WTF is a "first-time saver?
How dumb are Americans.. You need the govt to explain how to save your money!!!
"first-time savers to buy US Treasury bonds tax-deferred for retirement" is the key phrase here. With the end of growth evidence growing, and once we achieve a contracrting status, then there won't likely be much opportunity for retirement. But they would like to tie up the sheeples money who don't see it coming.
Fuck it. I'm selling my PMs and buying these pieces of shi....I mean Sure Fire Money Makers!
"First-time savers" would likely mean younger people with relatively lower-paying jobs and a high debt overhang. There's not a lot of fleece there to be shorn. Any such program's participation rate would rival that of Obamacare's for sheer anticlimactic snoozitude. If this is Obama's real plan to bail in USG, it isn't going to work.
And everybody with half a brain knows it isn't going to work, which is why I think he's just floating a trial balloon at this point. How exactly are these "executive actions" supposed to function, anyway? Does the little Mulatto Farquaad think he can simply compel his buffooning, semi-literate base into saving for retirement? The last time he tried to act tough (i.e. wondering "whose ass he had to kick" over the BP oil spill) even his friends in the MSM were smirking at him.
Nevertheless I find this deeply disturbing -- intimations of the tanning-bed Caligula unhinged. God that man disgusts me.
It's not like they would force people into them..
The insanity in this thing is that they tried to fleece the utes of America into paying for health care for the elderly and that didn't work so now they are trying to fleece the utes into paying for the borrowing of America so the elderly can maintain their state sponsored retirement plans. I'll go out on a limb and say the sheeple utes, 1, don't have money for retirement plans, and 2, even if they did, they aren't that stupid.
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
When I look for somebody to advise or assist me in "managing" my retirement I always look for the least qualified people
I still recall one time at my previous workplace, this lady came in to explain to the employees "how to invest" in the new 401K plans for the next year. She was a representative of the financial firm responsible for managing the company's 401K plan. A specific line from her seminar still stuck with me:
"The good thing about these 401K mutual funds is that you never need to worry about what specific stocks in the market are part of these mutual funds. All you have to do is just buy the funds and the fund managers take care of managing what stocks make up these funds. That's why this is such worry free investing!"
..and another gem..
"Mutual funds are very safe as compared to investing in the stock market"
THIS is the lady that the financial company decided to send to actually educate the sheeples about what to do with $15,500+ of their annual pretax income each year.
Now of course, we would naturally expect the government to hire much more qualified people than THAT and of course everyone should trust that the government would never EVER screw you over with your retirement money. /s
Someone tell the dumb shit in the white house if the youth in this country didn't buy into Obamacare and then sure as shit aren't going to buy 30yr treasury bonds!! Most have no idea what a Bond is.
Gen Y: US Bond = Michael Bourne or Batman
I think if they got Justin Beiber to tweet about it and Miley Cyrus to make a 15 second clip twerking about Obamacare, there would be some instant idiots willing to buy into it. That would be fun! I love watching large numbers of sheep go by. It's very relaxing.
T-Bonds are like James Bonds but with longer serial numbers.
Bravo, you delivered the punch line better than I did.
I am waiting for the Affordable College Debt Deferral Act. Interest accrues on your student loan until your children reach 22; then they have to pay it off. Its the way the system works anyway? BTW, the accrued interest can be booked as income to increase bonuses.
If you contributed to the military industrial offense or government position or student loan or usury real estate ponzi you should be forced to be in the treasury IRA... Remember the war bonds? ME THINKS AMERICA IS THE VICHY FRENCH... DeGaul did get his gold?
YEA BABY FORCE FORCE FORCE... Sheep awake.
LMFAO!!
Alex Jones had Bob Barr on last Thursday. He was a Congressman for 8 years back in the Clinton era. He was the one who brought up the charges of impeachment against Clinton and got enough co-signers to make it happen.
Bob Barr is a legal bad ass, ex-CIA, and a statesman along the lines of Ron Paul. Look him up.
Here's the kicker: Bob Barr is running for Congress again this year in Georgia and it sounds like he's easily going to win it. And when he does win, he will be one of the baddest mother fuckers in Congress, and he's going to go after obama immediately with the same charges of impeachment that he used against Clinton.
Here's the interview on Alex Jones...you all gotta listen to it: http://www.youtube.com/watch?v=24clEFBWqUg
Barr said he pulled out the impeachment paperwork he used against Clinton and dusted it off...then he updated what needed updating and crafted it for impeaching obama...he said it was easy given all the evidence against obama and his usurpation of the Constitution.
And since he already served 8 years in Congress previously, he gets all his seniority back...that means he can't be marginalized as some rookie freshman Congressman. He's a legal wizard and knows how to work Congress inside and out.
He's going to be obama's biggest nightmare and will quickly build a coalition against obama and the rest of the treasonous scum in Congress. I think we're going to see a lot more of the rats scurrying off the sinking ship once Barr gets back to town.
Here's his website...send him a few bucks, cuz we need this guy in D.C. big time to fight the fight up close and personal against obama and the rest of his scummy little miscreant crew.
http://barrcongress.com/
Pass the word around to everyone you email and let's help make sure Bob Barr gets back to D.C. so we can get this impeachment rolling!!!
I like Barr. But all he managed to do was harass Clinton. There were many other very serious charges against Clinton, but Lying about Lewinski was nothing compared to the real corruption both Clintons were involved in. Any impeachment would turn into a media circus with the media covering for Obama.
Don't give up just because it's hard.
By the end of this year Obama will be the most hated man in America, far more than he is hated now.
That changes the landscape. No Representative or Senator who is up for reelection in any contested state will vote in favor of Obama.
wishful thinking, or sarcasm?
What do you find to be wishful thinking?
Obama will be even more hated as the year moves forward and the economy and insurance move backwards.
Congress loves getting reelected. When the bottom falls out of Obama's support - when he becomes a Pariah - many will throw him under the bus.
Maybe someone with some cojones but will believe it when i see it. But am going to donate to his campaign.
Obama needs an impeachment movement against him to grind his agenda to a halt. Won't get passed the senate, but who cares. Impeachment will stop or slow the totalitarian agenda to a halt. If the FED tries to jack with the economy then the gunsights shift to them.
As was explained by a serious Consitutional lawyer one time, Obama has committed many high crimes. High crimes in context of impeachment, means high crimes against the office of the president. This would clearly already include: Fast and Furious, arming Al-Qaida, Benghazi, Spying oncongressmen and the press, using IRS to attack dissidents, NSA spying against Americans, and that's not even mentioning his fake BC and his fake SS numbers.
note: Quietly and surprisingly, obama lawyers are no longer defending his online birth certificate as a real one --- yhey agree it is a fake! But they it doesn't matter because Obama did not knowingly putting a fake one online, and says the real one is still in HI. Obama says he just thought the one put on the WH website by his underlings was the real thing. If you weren't a birther before the evidence is already enough to make your eyes bleed.
You had me until this:
http://barrcongress.com/stand-with-israel/
Sounds like this Barr cat is gonna start that war with Iran even if he has to ride the big one down Slim Pickens style.
Sucking on circumcised Zionist pee pee huh? I knew the original comment was coming from a Barr staffer. Comparing him to Ron Paul. As if...
We just love those shiny objects. Bob Barr!!! My god man!
Posts like this are why the middle class always loses.
-1
For... the obscenely obvious.
Bob Barr is... ex-CIA, and a statesman -- Save_America1st
Bob Barr also voted for and roundly endorsed The Patriot Act...before he was against it
Right, and he also voted for the Commodity Futures Modernization Act of 2000 (H.R. 4541) as well as a host of other big bank and financial services industry goodies. Barr loves to give your tax dollars to the .001%.
Bob Barr is a big bank whore.
Yes, because President Biden would be so much better...
Barr will get cockblocked by the new Speaker and the US Chamber of Corporate Elites. Mark my words.
A bond? Yeah, that's what superglue makes....
Hahahahahaah, this is beyond the pathetic at this stage now. Why yes, I'll gladly hand over more money to the government to finance illegal wars and illegal spying, tax free you say? A whopping 1.6% interest? I can convert it later to something that wall street can steal? Where do I sign up for this amazing offer?! Sounds to me like a stepping stone on the road to "let's give social security over to wall street".
Auto IRA Act. H.R.2035 was introduced in mid 2013. It sounds like obummer's pitch but with more detail. And it sounds like government getting a foot in the door that houses the savings of all Americans. Crazyness.
Oh, I thought this has already happened. Big finance has already put their foot in that proverbial door, and they used their wedge instrument, the federal government, to pry that door open. You let that happen by focusing on shiny objects.
i am jewish and my dad says all you folks need to pay compensation for what you did in ww2.
bail in is a start but the compensation package must go on forever ever.
.... there's already a 'wish' in jewish.
WTF? I thought we saved their ass.
I am Irish and the jews still owe me for sponsoring Cromwell's Irish holocaust, which is what the jewish WW2 myth is based on. 16 million non-Jews perished in Europe in WW2, many while trying to save Jews. Stalin's Jews did far worse. Hitler's #1 financial backer was Jewish. Without him Hitler was just another raving crazy homeless guy.
WW2 was conducted in order to deliver the Balfour Declaration. Jews should be the ones paying reparations.
Question is whether American private citizens will up their purchase of their gov't bonds to service their incredibly high debt service amounts ala the Japanese or the Italians? Problem is there isn't much to pick from the bones of those 40 and under if you look at their aggregrate net wealth and debt service levels already.
Have to keep that global war machine going at the price tag of $1T+ annually and the massive wealth transfer payments to the Boomers coming.
Obama to give us the State of the Coup tonight.
After his rant, those who have not GOTS (gotten out of the system) will reevaluate their own stupidity and point no longer their fingers at 'conspiracy theorists' who now have a damn fine track record of being correct.
Voluntary Treasury IRAs, an oxymoron, will later become mandatory and confiscated. Because, you know, the recovery is going so well under the Obama regime.
how does one GOTS though
Get ready to kiss ur IRA/401Ks goodbye.
Hey, give up one scam for another scam. As Tyler always says, "Looking for the greater fool."
Will this be their solgan?...
"If you like your treasury bonds, you can keep your treasury bonds. Period."
Its time to stand up and leave the table.
This type thing has been rumored for years and is bound to happen, there's a few trillion in 401Ks, IRAs, pension plans (corporate and govt), it's laying right there within govt's reach, they can't resist it much longer, especially with Fed getting nervous about how much money they're printing.
But it's too little too late. US dollar is headed for collapse fairly soon.
They already have this great imaginary retirement program...social security. Will this be a pre-tax tax with-holding? What can possibly go wrong????
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Job training? Help for finding work? For what jobs? Robots are coming! Automation. Forget it!
Retirement security? With the inflation coming? Or the alternative?
This just shows how out-of-gas not only this President, but this government, the whole goddamn gubbermint, is.
We're about to go schplat.
Europe is a basket case, getting worse all the time.
There is no gold.
The Chinese are creaming us.
QE is 5 years old now and still we have only this to show for it? The first wavering from "Full Print" and this happens to the markets?
Records on foodstamps, the admission that the UI numbers are bogus due to numbers dropping off.
We're dead in the water.
•J•
V-V
/All posted arguments so far are off point. Remember Justice Roberts? He upheld Obammy care under the federal taxing power didnt he. Forced purchase of treasuries will also be upheald under the taxing power. The premise is simple. YOU or your parents made voluntary application into the Social Security system. You then became eligible (entitled) to extraordinary protections paid for with money from the public treasury. A STATUTORY PRIVILEGE that is the legal basis of ALL STATE and FEDERAL EXCISES withheld from your paycheck. And now that your WAGE is the proper object of an EXCISE, the political branches can apply an excise in an amount that equalls 100 % of everything you make and leave you NOTHING. ITS ALL VOLUNTARY, but once in the system, there is NO statutory outlet. YOU waived your rights of PROPERTY AND CONTRACT in exchange for the privilege.
So with that understanding, all Congress needs to do is REDIRECT, through the power of taxation, a portion of that which is WITHHELD....into treasuries. Bend over and kiss the feet of your masters and be thankfull that they left you with anything.
Civil War is inevitable. Stupid fucking sheep. How can you fight a system you do not understand?
The Roberts is coming! The Roberts is coming!
Prior to his Kenyacare decision, I never thought the Supreme Court could be bought off--at least so obviously. That decision shocked even his court-mates.
As Obamacare implodes and pushes the massively unstable economy over the cliff with it, history will show Roberts to have done more damage to the nation that another other individual.
ah, did you read the paragraph to which you replied? only thing Roberts did is pull off the glove a little bit more to reveal the fist underneath. but the fist was a fist before Roberts was even born.
Perhaps bought off, but remember, the cia/nsa/fbi aren't collecting information on ALL citizens for nothing you know
I don't really follow you here - the legal basis is different federally than it is for a state - the different between an enumerated federal power and a police power, but that stuff aside, I agree with you on the impact of that awful decision, which was nothing but horseshit and rhetorical fuckery.
That decision, along with Wickard v. Filburn, stand out as insane expansions of federal power.
It also doesn't make sense to me that Roberts would have come to that conclusion - whether it was blackmail or just political pressure, who knows, but in essence where we are now is the government can make you buy things if they call it a tax, and if they don't call it a tax, the SC will designate it as such for them.
Recall that if it were passed as a tax, under that jurisdictional hook, the Court could not have heard the case under the Anti-Injunction Act. But they heard it under the Commerce Clause, decided it failed under that, but hey, it was really a tax, even though Congress said it wasn't.
Sure, there have long been all sorts of ill-advised tax credits, and penalties, and you could argue that all the ACA was doing was similar to this, but leaving aside the chewy question as to whether all that was actually proper under the Constitution, the problem is if the government can "tax" you for not buying something, they can also jail you for not paying the "tax" - or put a lien on your property, etc.
I guess the 9th and 10th amendments don't mean what they say. It seems to me that they should have been taken to limit the taxing power to revenue for the general welfare, without the additional and either tacit, or now explicit power to simply compel private purchases via the taxing power.
We may not be at "mandatory" with this proposed scheme - but you can see it from here.
Taking money directly from the people and handing it to corporations is faster and less costly that laundering it through the government first. The same people would end up with it anyway.
Yeah, solid point. This thing was no doubt intended as a bonanza for the large insurers and a revenue stream for the Feds, but it's also a power-grab by the government which I think is the bigger story. They can do all sorts of stuff post the Obamacare decision that would have been impossible before.
Part of this, a big part, also has to be eliminating competition for the big insurers from smaller ones. More profits for them, less choice and less value for you.
It's the American way.
Not really the American way Johnny C 'n B. Just in the last decade.
Johnny. The Wickard case is sooo misunderstood and abused. Here we have a wheat Farmer producing wheat. In comes a Federal AG Act that included price support for wheat. Hmmm And where did that money come from? Ah, the publics treasury. Is it a Right or a Privilege to recieve benefits from the public treasury? Answer. Its a PRIVILEGE. Now reference South Dakota v Dole. The federal government can tie CONDITIONS to federal money as long as those conditions have some relationship, however tenuous, to an enumerated power. And thats what Congress did. They tied conditions to the receipt of federal funds and those conditions were violated. Wickard it NOT the rule, but the EXCEPTION TO THE RULE!! The power to regulate commerce does not include the power to prohibit. Unless an exception in law are created that operate as waivers.
As for the income tax on the State level. Its the same. Insane right? Not at all. Here in Minnesota right in the tax manual, the state admits. If you have no federal liability, you have no State liability. To understand this, you must understand how the SS Act was passed. In a nutshell. The feds create an ACT. They tie that ACT to State Police powers (unemployment.Old age insurance...as a connection to POOR LAWS) All discussed in depth in the RCL's. The States then seek federal permission to join the other States in the ACT via the federal COMPACT CLAUSE. The States then preempted for purposes of TAXATION and Administrative control. In other words the feds TAX the PRIVILEGE and under the supremacy clause the States must seek federal permission to TAX the federal privilege.
The whole thing violates the federal constitution as: 1. The States handed the federal government a power to do something that the States themselves were constitutionally prohibited from doing. INTERFERE WITH THE OBLIGATION OF CONTRACTS, Moreover, now that the States gave the feds the power to attach an EXCISE to the wage (property), the States in both form and substance gave the fed the power to MOOT the apportionment clause as to direct taxation. The new tax not on the PROPERTY, but an indirect tax that uses the property as a unit of measurement to calculate the tax.
Both of these powers have been repeatedly struck down by the courts. That case law HAS NEVER BEEN APPLIED to this subject matter. If you doubt this, look up the USSC Obama Care opinion and look to the dissent as to the absolute frustration as to the question of direct taxation. These judges are brilliant. They told you flat out where the real argument was and EVERY LAWYER IN THE US missed it.
30 years and over 60,000 hours of research. Much of it on this subject matter. The courts can not and will not help us until we bring them the correct questions of law.
Won't be a civil war.... but people will die, and be deported.
United States CFPB = FED owned, privately owned, money police.
CFPB is by the FED, for the FED, and upon authorization by congress, became unaccountable to congress.
Good points.
This is to the government confiscation of private wealth what sturdy duffel bags are to bank robbers.
Argentina, here we come!
""And I think you'll see that across a wide range of topics, including retirement security, moving forward on his climate change and energy transformation agenda," said Podesta.
Podesta on NPR Tuesday morning.
Just as the euphemism for Obamacare is "The Affordable Care Act", so will the seizing of our assets be termed "Retirement Security".
Down is up and up is down!
And....sadly, most sheeple will welcome them taking over their savings with open arms. Fuck.............
Obama seems to thing everybody's got $100k stashed in their sock drawer, and if he could only get them to hand that money to Wall Street, all would be well. He tried getting people to buy "insurance" with a $10k deductible, that didn't work, now he's going to entice them to buy Treasury bonds will all that excess dough he thinks they have.
Only they don't have it.
don't worry.....soon what they do have in their private retirement accounts will be taken over for their 'protection'
Well, he thinks young people with crushing college debt thanks to a govt-created tuition bubble and suffering an economic recession caused by his friends on Wall Street have money to spare on high premiums for coverage they don't need and can't afford the deductibles on anyway, so he's just being consistent here. But yeah, anyone not standing on a 10 mile-high ivory tower can see they don't have the money.
Sounds like a Ponzi scheme. If his new solutions don't include the words gold and or gold backing and or silver backing I'm turning the channel. I just can't identify with paper wealth and promises. What's the point?
I'll gladly trade all my fiat today for a 20 year zero coupon paying whatever, just like Venezuela. Gimme a $100K's worth, yesterday! I love future promises from the then will be dead. This is the State of the Union.
Uh, what gold is he gonna back it with? We have so much gold we can't even give the Germans the tiny bit that we owe them.
Word on the street is it pays -1% on 30 a year and is managed by ex goldman execs with large student loan debts.
now they're preying on the uniformed youth...must be getting desperate
PRESIDENT BARACK OBAMA
When you rearrange the letters: "An Arab Backed ImposterYou don't even have to rearrange the letters....
Whenever I see the word "treasuries" I just read it as "IOUs from future taxpayers" - and I wonder where they're going to get the money.
Isn't it strange how Dear Leader, the champion of the working and middle classes, isn't talking about raising capital gains, or a tax on financial transations {especially derivatives like swaps}, or a law forbidding the government from spending payroll taxes as part of general revenue.
<while not ideal, at least sensible revenue generating and preserving schemes in a world where no one is willing to talk seriously about *repudiation* of a great deal of these fraudulent frac-reserve-derived "debts". The middle class still has wealth yet to be stolen by hook and by crook... gotta keep this bullshit chugging along as long as possible...
It's almost as if he's the precise opposite of what he claims to be.
See you in the Hope Camps.
find me on the ground searching for spare CHANGE
and if you don't we will bail you in!
Fed paper, two for one sale!!!
Fed paper, three for one sale!!!!
Fed paper free to signatories!!!
Interesting. A few years ago, Treasury direct closed out private sector treasury accounts. Now they want my money again?
Treasury Direct wont let you get it in paper form any ways, you have to sign up onto a godamned website again
"Though Poland remains the strawman"
Suggested correction:
"Though Poland remais the stalkinghorse"
19th Nervous Breakdown (Lyrics) by The Rolling Stones
http://www.youtube.com/watch?v=JzEbcuH4N-E (3:56)
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....
ONLY one small problem with your conclusion, under Communism folks would not have paid in, they get it free(off the backs of the wealthy.WE OTOH have had it stolen from us for however long we work/ed.
It ain't free, and it's not a gift from Sammy if it's YOUR OWN CASH.
Sooooooooooooooooooooo...does this now signal a rotation BACK into bonds??????
they're not even bothering to hide this theft anymore. Welcome to the NWO...
Real return on USTs -3%/Yr
Student Loand IRs +7%/Yr.
This will work as well as ACA Care.
Recieved an email from an old buddy, said he had to buy ACA Care because of a disabled wife and major pre-existing conditions.
Went by his usual pharmacy to pick up a scrip, was told HE would have to pay 100% of the cost, because the system had not BEEN set up yet for them to get paid, and they called .goobers and they said they had NO IDEA whn it would be working.So, he is ALREADY paying monthly prems, and a 10k deductible, and is not getting ANY coverage.
This NEW plan will work equally well, plus forget any transfer of balances to the KIDS (upon death)as it will be sucked into the dry black hole that IS the FED TREESERFS.
Aghast, Biden. Hell ya. All day. He is stupid as the day is long and has no "dark" skin to hide behind.
You mean kids will buy bonds instead of beer and video games? That's really funny!
Pizza and condoms too, those are necessities!
Did the Chinese just insist every US bond they bot had to be matched by a US citizen?
"Full faith and credit of the United States"
Bwahahahaha
bureaphobia fear of bureaucracy
ochlochraphobia fear of mob rule
opsimathiphobia fear of learning something too late
This is not new. The US until about 10 years ago used to sell tax differed 'H' bonds that were exactly what is being proposed. I think I have sold all of the 'H' bonds my great aunt game me.
Financially and mentally, I am stressed to the max. Now I just wish I hadn't read this article. Still, it's nice to know just how FUCKED you really are!
leave the USSA. you'll feel better immediately.
This really sounds like an African solution.
$17 trillion in hock. That's all you need to know. Anyone who buys this debt is either a retard or Ben Bernanke.
Would you make a loan to an irresponsible drunken lunatic like the U.S. Congress? Not a friggen dime.
The carrot always comes before the stick. Soon you will penalized if you don't invest your IRA in government Treasurys. The US retirement portfolio will begin to resemble the Social Security Trust Fund without any liquidity but a whole lot of worthless government IOUs.
Tune in to the fact that this puppet isn't talking to you.
Turn on to the fact that he intends to enslave and kill you, and that gangsters don't working alone.
There is no State greater than your family.
Drop out of the globalist soap opera, and be prepared to defend yourselves against zombies.
Dismissed.
This has been your State of the Union address. They don't have "it". I DO
And so do you.
If you ignore everything else, the mere fact he mentioned the "unemployment rate" as a positive is proof he knows he's full of shit.
The percentage of the working age population which is employed is the worst it's been since the 70s when most women were not in the workforce. Now they are, and the numbers are still just as bad. the recession is really a depression, and the recovery hasn't begun yet, nor will it begin until the defaults occur and the market clears.
the top 1% are the only ones who have benefited in the last 5 years with the soaring stock market, and even most of them (other than the top 0.01%) are probably just being fattened up for future slaughter.
With compulsory pension payments paid to government, socialised healthcare (when Obamacare collapses) and a sprinkling of inflation the Fed taper vacuum should be covered nicely. No problem, America is just becoming more European and everyone knows that is trendy.
If you are looking for an acronym for The Obama's new plan - It's
C-O-N-F-I-S-C-A-T-I-O-N.
Buy Gold - Hide in Canada.