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The Countdown To The Nationalization Of Retirement Savings Has Begun
Submitted by Nick Giambruno via Casey Research's International Man,
Simply put, the new myRA program put forward by Obama is at best a sucker's deal… or worse, it's a first step toward the nationalization of private retirement savings. (Note: If you haven't yet heard of myRA, I'd strongly suggest you read this excellent overview by my colleague Dan Steinhart.)
Even before the new myRA program was announced, there had been whispers about the need for the US government to assume some risk for US retirement accounts. That's code for forced conversion of private retirement assets into government bonds.
With foreigners not buying as many Treasuries and the Fed tapering, the US government has been searching for new buyers of its unwanted debt. And this is where the new myRA program comes in.
In short, it's ostensibly a new way for people to save for retirement. Of course, you can only invest in government-approved investments—like Treasuries—which probably won't even come close to keeping up with the real rate of inflation. It's like Jim Grant says: "return-free risk."
In reality, a myRA doesn't really provide any significant new benefits over existing options. To me it just looks like a way for the US government to pass the hot potato on to unsuspecting Americans in exchange for their retirement savings.
The net effect is the funneling of more capital to Treasury securities and thus helping the US government finance itself.
You'd be much better off using a precious metals IRA to save for retirement than participating in the government's latest Ponzi scheme.
There are other protective strategies as well, such as internationalizing your retirement savings into assets that are hard, if not impossible, to confiscate on a whim—like foreign real estate and physical gold held abroad. More on that below.
Retirement Savings Are Always Juicy Targets
As bad as it is to deceive naïve Americans into trading their hard-earned retirement savings for garbage (i.e., Treasury securities), the myRA program potentially represents something far worse… the first step toward the nationalization of existing private retirement accounts.
I believe myRA is a way to nudge the American people into gradually becoming more accustomed to government involvement in their private retirement savings.
It's incorrect to assume nationalization couldn't happen in the US or your home country. History shows us that it's standard operating procedure for a government in dire financial straits.
In just the past six years, it's happened in some form in Argentina, Poland, Portugal, Hungary, and numerous other countries.
To me it's self-evident that most Western governments (including the US) have current debt loads and future spending commitments that all but guarantee that eventually—and likely someday soon—they will try to unscrupulously grab as much wealth as they can.
And retirement savings are a juicy target—low-hanging fruit for a desperate government.
Naturally, politicians will try to slickly sell the idea to the public as something "for their own good" or as "protection from market instability." This is how similar programs were sold to skeptical publics in the past.
In reality, governments take these actions not to "reduce the risk" to your retirement savings or whatever propaganda they happen to come up with, but rather to obtain financing—by forcefully dumping their unwanted debt onto seniors and savers.
Below are several ways it has happened or could happen. Of course, there could always be some sort of new, creative proposal that was previously unthinkable. No matter the method, however, the end result is always the same—the siphoning off of purchasing power from your retirement savings.
New Contribution Mandate: The government could mandate, for example, that 50% of new contributions to private retirement accounts must consist of "safe," government-approved investments, like Treasury securities.
Forced Conversions: This is where a government will forcibly convert existing assets held in retirement accounts into so-called "safer" assets, such as government bonds. For example, if the US government forcibly converted 20% of the estimated $20 trillion in retirement assets (401k plans, IRAs, defined benefit and contribution plans, etc.), it would net them $4 trillion. Not a bad score, considering the national debt is north of $17 trillion.
Special Taxes: The government could look into levying special taxes on distributions from retirement, especially those deemed to be "excessively large."
In order to be more effective, forced conversations probably wouldn't happen until after official capital controls have been instituted. Once in place, capital controls would make it very difficult, if not impossible, for you to avoid the wealth confiscation that is sure to follow… like a sheep that has just been penned in for a shearing.
Since FATCA and other regulatory burdens already amount to a soft form of capital controls, it's absolutely essential that you start implementing protective measures now.
It's like I have always said: internationalization is your ultimate insurance against the measures of a desperate government. In the case that the government makes a grab for retirement savings, it's much better to be a year or two early rather than a minute too late.
Internationalize Your Retirement Savings
It's much more difficult for the government to convert your retirement assets if they're outside of its immediate reach. If you have a standard IRA from a large US financial institution, it would only take a decree from the US government and Poof!: your dividend-paying stocks and corporate bonds could instantly be transformed into government bonds.
Obviously, this is much harder for the government to do if your retirement assets are sufficiently internationalized.
For example, you can structure your IRA to invest in foreign real estate, open an offshore bank or brokerage account, own certain types of physical gold stored abroad, and invest in other foreign and nontraditional assets.
In my view, owning an apartment in Switzerland and some physical gold coins stored in a safe deposit box in Singapore beats the cookie-cutter mutual funds shoved down your throat by traditional IRA custodians any day.
If and when there's some sort of decree to convert or otherwise confiscate the assets in your retirement account, your internationalized assets ensure that your savings won't vanish at the stroke of a pen.
There are important details and a couple of restrictions that you'll need to be aware of, but they amount to minor issues, especially when weighed against the risk of leaving your retirement savings within the immediate reach of a government desperate for cash.
After placing a juicy steak in front of a salivating German shepherd, it's only a matter of time before he makes a grab for it. The US government with its $17 trillion debt load is the salivating German shepherd, and the $20 trillion in retirement savings is the juicy steak.
Internationalizing your IRA has always been a prudent and pragmatic thing to do. And now that the US government has now officially set its sights on retirement savings, it's truly urgent.
You'll find all the details on how it to get set up, along with trusted professionals who specialize in internationalizing IRAs in our Going Global publication.
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Yes. First they ask for volunteers. Then it's inducements. Then it's penalties and coercion.
And when 50% are swallowed and realize they are getting slaughtered, they will demand that the other 40% be slaughtered with them by force, for 'fairness.'
Just need a framework before doing an ACA on it.
I personally don't think they have the time , so they
probably won't even bother with legal niceties/fictions.
There will be some true believers who want to use a myra as well as come older people who don't want any risk. MyRas are currently capped at $15,000 before they convert to a private plan, but the whole idea is for.gov to dip their foot into this area and then expand the pie. Incrementalism is the key word here.
Overton window. Just like the takeover of health care.
I think the Orwellian phrase is:
Mission Creep.
But, try to remember, its for the children.
I thought the idea was to get non-savers started so they could be funneled to Wall Street for a good shearing.
People who get huge subsidies from their obamacare plan. IE: free or close to free insurance
Circle jerk
Edit: Dr yes move very slowly so nobody realizes the plan
Never underestimate the potential of natural born suckers. There is a surplus of same.
Well, how many stepped up to the plate and batted one out of the park for Flaming O'homo back in 2008 and 2012.
Not to mention the other half that brought us Mr. Gravitas.
Easy Peazy.
All those that saved major $$$ by signing up for bammycare rationed medical death panels.
I don't get it. The system enters a structuraly worse state every day - think SS disability, food stamps, employed population ratio, etc. Until there is an operational budget surplus - there hasn't been one since 1957 - whatever wealth that is seized from the retirees will only be used up over a short period of time. If the government had a credible plan to restore the economy by some unusual funding - think QE - it would have worked by now. This buys a few more years....and then what. Better to push the reset button today. Better to have done it ten years ago. This is math ladies and gentlemen. Denninger writes about this. One should be able to deduce it for oneself with an eigth grade education w/o any help from Karl. So they are doing this deliberately.....to create misery. Margaret Thatcher gets a lot of poyhumous criticism these days.....but it is hard to argue with, 'the trouble with socialism is that sooner opr later you run out of other people's money.' If economic equality brings a measure of happiness, will it be more or less happiness when things were unequal but everybody had a full belly instead of all starving?
Once you have universal misery you can use rewards to control people.
They already have about all the money they're going to get, so now it's about all the power. All in the name of perserving themselves.
The dependency agenda. There's a whole.book by that name.
Sounds to me like you do get it, but the information you're processing isn't necessarily making sense.
Think lying cheating and stealing from the world's citizen. Then it all becomes clearer.
Chanceis. "I don't get it."
You are looking for a solution, they are not. You want things to work again. You want a reset. You want a path to prosperity. Hope. I certainly empathize.
But that is not what "they" want. They simply want control. of everything. and everyone. If the big banks fail, then they get a one world financial system. If the political gears get gummed up, they get global government. This is their stated agenda. But its too hard to contemplate or to think that they might succeed. So many just don't get it...
Outofchaos#order is their mantra
Two words
Controlled demolition.
Two more words
Cloward Piven
Marxist deconstruction of goy traditional society.
Great comment.
I fear the day that a full stomach is the only metric of happiness.
Isn't it good to be the 1st ones in a Ponzi ????
The first one is Uncle Sam, and he's going to assrape the 2nd ones to get in and continue assraping on down the line.
Uncle Scam is loaded with sociopaths. They have no guilt when it comes to killing people in the name of their cause.
Mostly just "ruining" but they do some killing too.
Who is this article's target audience? Sheesh. If you have enough current wealth to own real estate in Switzerland and have gold in a safe deposit in Singapore, than reading this article was a waste of your time. For the rest of us, it is a pipe dream.
It's like when car magazines do reviews of supercars. People like to imagine that, one day, they will face the dilemma of whether to choose the Zonda or the Bugatti.
"In my view, owning an apartment in Switzerland and some physical gold coins stored in a safe deposit box in Singapore beats the cookie-cutter mutual funds shoved down your throat by traditional IRA custodians any day."
__________________________________________________________________________________________________________________________________________________
As I understand it there are already regulations in place for retirement savings that do not let you invest in real estate unless you have a large balance in your IRA account. This is not a feasible solution for everyone (especially if you can't afford that apartment in Singapore). Seeing foreign governments abide by laws that were constructed after 9/11, who would be dumb enough to hold gold outside the US? They can find that as well, the same way they got the wealthy's accounts in Switzerland.
I don't get the obsession with trying to hide assets from our kleptocrats by hiding them in places with other kleptocrats who might just target foreigners first either. Gold and silver buried out in the middle of BFE when nobody is watching is probably just as reliable as anything else.
+100.
Just don't forget where you buried it.
And establish a dead man switch that very privately informs intended heirs exactly where and how to recover and make best use of it.
--- and don't take your NSA human tracking device, aka your cell phone, with you to said location.
America’s plight is not so much the nationalization of retirement accounts as, it is now clear, the loss of the American republic to the Bolsheviks. Nationalization of retirement accounts is a symptom.
Because Congress is bought, paid for and packaged up and the thrust of the executive department is full blown Marxism, our goal should be: Removal of the principals in whatever form it needs to take.
Let’s hear from one of those bought members of Congress:
Democratic Rep. Sheila Jackson Lee has just announced that the new Congressional Full Employment Caucus will “give President Obama a number of executive orders that he can sign,” adding that writing up executive orders “should be our number one agenda.”
Here is a member of Congress abandoning the law making provision of the U.S. Constitution in favor of tyranny.
To destroy America’s system of separation of powers is to throw out the key to her liberty.
The incredible voice of lifetime Democrat Dinah Washington was lost to the country when she was in her late 30s, after 7 husbands and a rocky life. She was the self-described Queen of the Blues.
Perhaps her most famous quote, while performing at the London Palladium with Queen Elizabeth present in the Queen’s box, was when Dinah said: “There is only one Heaven and there’s only one Hell. And there is only one Queen. And your Elizabeth is an imposter.”
There have been welfare queens but at the moment America has only one leading queen actually reigning over welfare, Sheila Jackson Lee, with the magic transfer-of-wealth-pen in her hand, passing the magic over to Obama, The King of the Welfare State.
Ah, yes ... Sheila Jackson Lee.
In 2010 she gave a speech saying "Today we have two Vietnams, North and South. We may not agree with everything North Vietnam is doing, but they are living in peace."
While touring JPL, she asked engineers if the Mars Pathfinder had taken a picture of the US flag that Neil Armstrong had planted.
By far, the biggest moron in Congress.
Sheila Jackson Lee would be homeless if it were not for her Congressional job. Unreal stupidity.
If her and Hank Johnson bred, imagine the offspring...heebies...
people's trust in government is is direct and inverse proportion to the extent to which they trust themselves. the clown mask of benevolent social programs aimed at the stabilization and protective maintenance of social order is coming off revealing the unsavory and voracious ultimate intent of financial predation. bait and switch-carrot and stick. you have to manuever and cajole people into an indefensible position of dependence before herding them into the kill zones of the collective abbatoir. The targetting of IRAs, 401Ks, and pensions those once inviolable domains of personal and private savings safety nets follow the incremental and insidious theft of savings through perpetual 0% interest rates and creeping inflation. the result will be massive entries into gray and black market as has been the case down through history.
If Americans take this Myra thing lying down they may as well call themselves pussies and hand in their guns. They can keep their bullets for use as laxatives.
Wake up America....your leadership is taking you on a one way trip to hell.
More like idiots. How many of them are even going to realize that it is theft? Why would they rise up against something that they think is not bad?
Agreed. As long as the NFL, american idol, keeping up with the lardassians, etc is still around they will not care nor rise up. It's that simple. They will drag us all down.
Outright confiscation by the banksters through the government to make themselves whole again.
The banksters have been getting bolder every day. When the debt Ponzi scheme reaches it's limits they just take,
"It's much more difficult for the government to convert your retirement assets if they're outside of its immediate reach. If you have a standard IRA from a large US financial institution, it would only take a decree from the US government and Poof!: your dividend-paying stocks and corporate bonds could instantly be transformed into government bonds."
Problem... This would crash the stock market or cause a huge run on the banks ahead of time or both.
"If and when there's some sort of decree to convert or otherwise confiscate the assets in your retirement account, your internationalized assets ensure that your savings won't vanish at the stroke of a pen."
Problem... and when it comes time to redeem my internationalized assets so I can spend them in the good ol' U.S.A. where I happen to be stuck, how do I keep the grubby hands of my gov't off my money then?
The last time there was serious consideration in Congress to confiscating IRAs and 401k's was in late 2008 - after the crash. The plan floated back then was to confiscate the accounts and award a SS benefit in exchange that is based on the pre-crash value. That idea was shelved when Bernanke refloated the stock market. Most likely they will do the same thing again. After the next crash, they will put forward legislation to confiscate the 401k's in exchange for some government benefit based on the pre-crash value - which could be 10x the post crash value. That way the sheeple will buy in willingly.
Bingo Andrewp111. MyRa is voluntary. The crash will bring about the Poland,Argentine/ manuvers. At moment the conditions are not ripe yet.
rubbish. all the financial firms that ZH has said rule the universe will have no more suckers to sell stocks to. the insurance and retirement fund managers would be out on the streets rioting, which might make it worth it. maybe the program will just be for non savers so they just confiscate some of your earnings to save for you. so eventually you will work and the government will take all of your check for retirement and health care etc.
They just have to adjust the rules to say UK ones.
No cashing out fund before retirement age.
Compulsory purchase annuity by your fund into safe assets after RA(UST's),
to provide income.not capital.
With 10,000 per day retiring,thats a lot of swag, plus they get all the benefit
of the fund accumulation over the serfs working life.
Thats how I would steal it, if I was so inclined.
The logic used in your theory assumes that "retail" investors are a large part of market.
While 20 trillion is not to be skoffed at, it pales in comparison to the quadrillion it has been theorised is currently sloshing about the equitys market.
The agency in charge of o-care will also be running MYRA, and that should be enough to scare any thinking being.
Hey, they can give everybody a free.. MyIRA. Tied to your Social Security Number. then put some fake money in it, and say they will match whatever you put in . as long as you don't take it out till you retire. Then one day you wake up, and realize that their money was never there, and your money is Gone. Then of Course make it Mandatory out of your Paycheck. lots of possibilities on that one
Note from the future:
Best of luck,
Alien 851
Trying to get individuals to buy all of those Bonds either from the FED or created by the FED thru Money printing.
Dear Barack,
I just wanted to verify some details about your exciting new investment vehicle that you created with your 'phone and pen'. So, I can invest as little as $5 per week and then retire with income to sustain me? At 1.78% yield (current yield of the government employees' G-fund), my $5 per week will grow to $262.3 in a year (total interest of $2.30, muchas gracias señor!).
So, to generate a monthly income of $2000 per month to last me 20 years ($480k), I just calculated that I will need to work 201 years before I can retire (using this: http://investor.gov/tools/calculators/compound-interest-calculator).
Do you think $2000 per month will be enough to pay a water bill in the year 2215?
Sincerely,
Confused on Zerohedge
...... pre president quote..."electricity rates are necessarily going to skyrocket"..... he didn't mention water, gas (if still allowed) or communications....
Dear Confused on Zerohedge,
Who talkin' bout US Govt Bonds?
Ever heard of Special Issue, High Yield Nigerian Govt Bonds?
Well, allow me to elucidate & assuage your fears, fellow North American:
My crack financial team has been in contact with an ex-official from the Nigerian Treasury (no relation) - and we have his personal guarantee of investment returns of AT LEAST 20% a WEEK!!!
Yup you heard that right Pilgrim! Gonna double your money every darn month!
Ol' MYRA's gonna be walking round in silks 'n sable, having sushi for supper, swilled down with Spumante - soon as we get your funds to work over there sailor-boy!
Since this is a limited time offer - we gotta be quick so's Don't Delay, Make it Pay!!!
Reggie says Hi! ;)
Dear Confused on Zerohedge
Thank you for your recent letter regarding our new exciting investment vehicle.
The calculations you provided will be much easier to understand if you use OUR definition of "retire" instead of the one you are most likely familiar with.
Thank you for you letter.
(Note: all electronic documents are forwarded to the NSA for quality assurance).
What percentage of even the wealthy Americans is Casey Research's research notes applicable?
You didn't build that IRA, the People built that IRA.
It would be nice if we could skip stage 8 (the wars to distract) and just go to stage 9 "game over" - too bad the legislative and judicial branches of government lost their balls years ago.
"German Foreign Minister Frank-Walter Steinmeier announced on January 30th: "As correct as the policy of military restraint is, it must not be misunderstood as a culture of standing aside." In a full-page interview under the headline "Germany and the World" released later the same day, Steinmeir emphasized: "Germany is too large, just to comment on world politics." When asked if that meant use of military force as the "ultima ratio" (last resort) of foreign policy, he warned: "No foreign policy in the world can banish the ultima ratio from its political thinking." In response to questions about America's diminished sway in the world, Steinmeir added: "The US has not lost its interests in Europe and the world. But America cannot be everywhere. Whether we like it or not, that shifts more of the responsibility for security in Europe onto our shoulders."
I said the moment that the Supreme Court rubber-stamped Obamacare -- the forced purchase of something I do not want -- that mandatory "retirement savings" would be next. Understand that HSA/FSA current health care plan/premiums are essentially being confiscated by the federal govt in order to cross-subsidize a "universal" plan. Plus the tax code is explicitly being used to enforce this policy.
As retirement vehicles are COMPLETELY creatures of the tax code, confiscation will be much easier to accomplish. Then, mandatory "savings" for "approved educational services," ie, the legacy brick-and-mortar institutions that online learning will otherwise kill.
There is no where to hide.. don't think your precious metals are safe from government thieves, not real estate, or going global, they can find it anywhere.
Diversification is the best bet, but even with a dozen stockpiles of wealth in different asset classes spread around the globe you will be lucky if the gov only gets their hands on eleven of them.
I agree with everything the guys says in the article, been saying the same thing since 2008.
Conspiracy theories are batting a thousand. Everything is happening just like it would in any other banana republic. People's normalcy bias just won't yet allow them to see that the US is being run like another broke banana republic.
I'd have to say that's an optimistic assessment of how the US is run.
If only we were merely broke. I could live with broke.
It's much worse than that.
Somebody has to pay too keep all the OldFarts living in the lap-of-luxury. We surely can't expect anybody to save (delay instant gratification) anymore. If that happened how would the OldFarts keep the hip-replacement "industry", motor-scooter "industry", and cruise "industry" going?
The "oldFarts" worked their asses off only to see greedy .gov and socialistic desires, eluded by this statement, come after them. Worry about yourself. Getting pissed at older generations instead of .gov who created the environment is a better use of angst. Ageism sucks. If you were them you would have done the same damned thing. I'm a GenX'r.
Re: The "oldFarts" worked their asses
And were lucky enough to live through the biggest debt expansion in history and most of them saved nothing and are living off of a welfare program called SS.
Yeah, a fantastic generation. I'm an OldFart.
...so you missed out and pissed away your opportunity....go find a mirror and look into the motherfucker.
Well put Iridium - I too am Gen X. I actually feel bad for the millenials. At least we got the 80's and 90's which were fun. Lets suppose my forecast that by 2021 we start seeing improvement. Add another few years to have a good economy. They will be past the time to raise a family and really enjoy the primary things in life.
Yes, the Boomers got the best life in all of history, but now many get a shit sandwich for the next decade and will be too old to recover as a generation.
You are wise to know this is about .gov that continues to party on. In truth, I wouldnt have cared what happened by 2008 as most enjoyed the boom (even if we should have paid more attention to what .gov was doing) and all should have take the pain of bust. It is that they used their power at our expense to keep partying. While this is human nature and self-survival, stop taxing me for services which suck and speniding money on defense for regions that yield no long term benefit in trade for our country. By doing this they really accelerated a class war which delays a recovery from a few years to fifteen. No wonder ao many here despise governments. Our species is so beautiful but at times so disgusting.
Dup post ... sorry
I don't believe your thesis that it would be 'harder' for them to 'convert' internationally held assets.
They would just say 'if IRA's are not held in safe asset classes, your tax is due on those assets' ... very simple and very effective.
Tax strategy is distraction from creation and preservation of wealth. America must is demand restoration of constitutional republic, or resort to barter economy. Like Poland and Hungary, you are eventually surrender all retirement saving in name of "National Emergency". Better you are have good stock of toilet paper in cellar.
It won't happen for a few years ... the socialists have not yet managed to create a big enough crisis to get this done. Eventually they'll come for it. But first the bills for Obamacare have to get bad enough, and that's going to take years of growing the program to do. The key is to see it coming and start to build your plan now. I've zeroed my contributions and am using the extra income to get debt free, then I'll start building stores of cash and untraceable valuables. Once they get hungry, they don't care whose food they take or what they have to do to whom they're taking it from to get it. So it must look like I don't have it. Fortunately I live a simple lifestyle for my income level, so I'll accomplish a lot in the run-up years before the SHTF.
"Build it and they are come"
It = wealth
They = government
Why bury? They got sophisiticated equip to find it IN THE GROUND. Luckily my property has lots and lots of pilated peckers on it.
"I would much rather own an apartment in Switzerland"
Hahahaha dude you are the top 2-5% and not in the club. Haircut coming to you and I globally. Google FATCA they want it and need it.
You seriously think the banker elite are going to stop at a border, they have been working on this debt slavery model for a loooooong time. I own gold and silver but I think whats coming could be worse than that basically elimination of property rights. But don't fret you will still have the ability to work longer hours for less and be made to feel grateful for "having a job" and some breadcrumbs come in.
Its their money! Goes back over 2000 years "give unto Caesar what is Caesars"
Peace
Barack, our dear leader, has vowed that ObombRA will charge NO fees. Yet, some TBTF bank will undeniably service these accounts. And those banks WILL BE CHARGING fees. Does anyone know where this money will come from to pay these TBTF banks to administer these accounts?
Even the WSJ doesn't know (http://online.wsj.com/news/articles/SB1000142405270230442800457935095255...)
note the push to raise the "minimum" wage to $10 or more...watch for the little caveat that 20% of this humanistic imporvement will have to go into a MyRA...for the children, of course (whether age 3 or 33)....
Are they going to do it because the government cannot print enough money? Bwack ... NO! Are they going to do it because they:
a) Want to create greater dependency (and hence control of the people) on the government? Yes. The people (and I use the term very loosely) in control hate people who are independent and not under their control. The are desperately afraid of people they cannot control.
b) Envision that they will collapse the stock market (and other markets) at some planned, but unknown to us, date in the future? Yes of course. They no longer need the stock market now that they have full control over it and they can print as much money as they want and direct it anywhere they want (Soviet Style ... it worked well for them right?). The stock market is another vehicle that can create independence and they want no independence.
Look, The people in charge have consistently and constantly been creating wars for reasons of their own. It is not just the US, but ALL of the connected people in charge. They claim they want a one-world peaceful government that can live in harmony, but to get there they need to eliminate a large percentage of the population... and to eliminate people they are in the process of both killing them and decreasing their ability to reproduce (why have they seeded Iraq and Afghanistan with so called "depleted uranium" that causes massive birth defects ... long term solution to a short term problem). Most likely it will continue and the pressure will be pushed up. ADDITIONALLY, they are systematically taking away people's ability to be independent and support themselves, and systematically decreasing the activities that people can be involved in without "so called" government approval. Why do they want drones, drones and more drones? Logically it is because people have a conscience and are notoriously unreliable when it comes to killing their friends, relatives and fellow human beings. Anybody or anything intelligent can direct the activities of drones. Look at the AI in MMRPGs. It has been getting better and better over time and can defeat many human players, especially the inexperienced ones with few resources.
I do not know the real purpose and endgame ... and maybe those directing activity do not as well. They only know what they think they are suppsoed to do ... for now.
If you can't stick it in a backpack it's worth exactly ZERO...and probably something you didn't need anyway. Digital wealth is just a fiction bolstering on confidence. Physical wealth stashed in a bank 2,000 miles away is really a fiction. Good luck trying to get your hands on that in a real SHTF scenario. Just look throughout history - when it really comes down to it, all we really own are our minds, our will and the skills we possess. If you cant fix, heal, deal or f**k...good luck and godspeed.
{{oops, dupe}}
I own nothing, I don't want to own anything, and they keep forcing me to the black market... What do they think...
FUCK THEM
Not only do I don't have shit, But I will go one better and say I am shit.
I own nothing, I don't want to own anything, and they keep forcing me to the black market... What do they think...
FUCK THEM
And I assure all of you that 50% of Americans with zero net worth will be all in favor of Government going after private retirement money. If Uncle Sam leave one's primary house out of the confiscation, that figure goes even higher.
After all, these people are depending on Social Security, Medicare, Food Stamps, and everything else to get by.
Fuckin' Casey Research ... Always trying to part me from my assets. Singapore and Switzerland. Ya, right. And when the just-in-time, efficient supply and transport systems that depend on the continued functioning of the financial system fail, I might as well have my shit stored on the moon, since I don't have a sailboat.
No thanks. I'll try to get my assets off the lake bottom ... one fish hook at a time.
For the price of a used car you can buy a sailboat and then learn to sail. The world is then at your feet to go wherever you choose. Most people watch too much Hollywood drama about the sea. It's just like the propaganda telling you where to invest: clueless.
till the first hurricane or rouge wave.. hits you
The one and ONLY answer to the debt problem is to declare it null and void because of FRAUD! It is fraud because it is mathematically impossible to repay ! It can not be repaid because the interest is never created on the loan and that is fraud ! And fraud voids all ! If we don’t void all out of thin air debt the bankers will own almost EVERYTHING ! And we will be homeless slaves ! They have a license to counterfeit ! Can I counterfeit the money to repay the loan ? Why not ? If we even attempt to repay a impossible debt (the national debt) all we do is show our ignorance ! The way to fix this mess is so simple a 3rd grader can figure it out ! We void the fraudulent debt! and everyone keeps ALL the items they have so called debt on ! And then we start to use a debt free currency and / or gold and silver ! And then we will have a robust economy like never before — OR WE LET THE BANKERS STEAL EVERYTHING !
I was in about the third grade when the news was talking about the national debt and I asked my dad who do we owe money to and who could possibly be richer than the United States? and where did they get the money? And then my dad took a gulp off his beer and said we owe it to our self ! I said that’s the dumbest thing I ever heard of ! that’s like me borrowing from my right pocket and setting fire to the interest and putting the rest in my left pocket ! This was about 1972 ! And yes it really is this simple ! The bankers have a shoe in on ALL loans they make ! All they have to do is stop lending and then start foreclosing on ALL debts!-meaning they now own everything that has a debt by having a license to counterfeit ! So we 1 keep getting fleeced by continuing to pay this fraudulent scheme ! OR 2 we declare ALL out of thin air debt NULL AND VOID because of FRAUD ! And we ALL keep everything we have so called debt on! MOST people don't get this part Every car, boat, house, machine, tool, farm,ect. has already been paid for by the fraudulent paper! So no one looses ! WE sure as hell cant give it to the banksters! (let them steal it) AND IT DOESENT MATTER IF YOU WANT TO REDUCE THE DEBT 90% ITS STILL UNPAYABLE! So when we void the FRAUD This will be the ultimate FRESH start for everyone ! Share this if you want THE solution to the WORLDS problems! If not everything will continue to get worse until we have HONEST DEBT FREE MONEY /and GOLD AND SILVER ! And there is plenty of gold and silver! just Divide the paper money (FRN) by the gold /silver and you have the value of them! NO MATTER WHAT IT COMES TO per OZ ! Then we would be happy to work for SAY A ONE OZ. SILVER COIN A day ! Because NOW REAL MONEY will buy what $100 did before the reset! THINK ABOUT IT! This is what Scripture calls the jubilee !
that read like the label on a bottle of Dr. Bronner's soap.
ALL-ONE ! EXCEPTIONS = NONE !
if the US government forcibly converted 20% of the estimated $20
trillion in retirement assets (401k plans, IRAs, defined benefit and
contribution plans, etc.), it would net them $4 trillion.
How can that work? They grab the stuff in those plans, some mix
of bonds, stocks, and mutual funds. To raise actual cash they
need to sell them. Who has 4T to buy them?
nobody will buy it, the government will swap their bonds for the stocks and other assets, double win for the government.
Brilliant! Yes don't trust the US government, keep retirement savings "private" cause the banks are really trust worthy. And yeah, trust the Swiss and Singapore governments because those governments and banks are so much more honest and, as non-citizens, surely your rights are much more protected. Does anyone vet these articles before they are posted! I'm losing respect for Zerohedge.
Morton Hull: Do you realize that more people will be watching you tonight, than all those who have seen theater plays in the last forty years?
Chance the Gardener: Why?
Being There (1979)
This should be proof that they have emptied Social Security and are looking for a new cash cow.
Their not getting my Lava Lamp. That's all im saying.
Or my stapler...
Doesn't the government receive more than half of all of your earned income in the form of taxation at all levels? Sales tax, property tax, utility taxes, income taxes, fees, and on and on and on. You are forced to give the gov something every time you turn around, from the local to the state to the federal governments, they are there to make sure that the collection of money for them is what gets done, first and foremost.
They just want more than you are willing to pay.
In the end, you ain't got shit and there is still more hell to pay.
Go to hell, do not pass go, do not collect 200 dollars, pay us, dumbass.
Colder than hell out there and global warming is to blame.
Truth is stranger than fiction.
I am not sure today's Switzerland is the same as yesterdays Switzerland. They are pegged to the Euro.
Not to worry. It'll be done in small steps at a time...you won't feel a thing.
It's clearly a trial baloon for some sort of natioalized pension ponzi scheme (even though we already have SS).
Get the proles used to the idea of giving the federal government your money and they'll take car of your retirement. I'd honestly trust the thieves on Wall Street before i'd trust Obama.
At best, the program is basically the equivalent of a person buying a US savings bond that your grandmother would give you as a kid, except it doesn't even keep up with inflation.
bad command or file name.
Two possibilities: plain highway robery.
Or.
The Fed knows it put out way too much money out there and they are nicely asking the government to soak up as much liquidity as they can. The Fed knows what's on their books won't be able to soak up all that liquidity. They would not tolerate so much eggs on their face if inflation eventually gets out of control.
Gonna nationailize my gold at bottom of the lake?
Lots of boating accidents lately.
The government says there is no need to worry about retirment accounts...
.... the Obamacare death panels will be euthanizing you long before you need worry about that
SO after having tried the big business model for 150 years, in the winter of its discontent, the US, now having swallowed, like cod liver oil, the forced socialisation of corporate debt under the Oligarchy gun, is now forced to assume forced socialization of pensions for the same reasons; to the benefit of the big insurance and private pension fund lobby.
The Oligarchy wants the STATE to assume the whole load of institutionalised risk come what may!
Your risk, our profit and there is a sucker born every day! This Potus rides for the Oligarchy and its NOT the other way round!
This has to be the greatest Corpocracy cum crony government scheme since Mussolini invented it under Fascist rule of 1922 !
Awesome world of new Kapo di Kapo of crony state and moneybags Inc.
Don Corleone, eat your heart out, you were born sixty years too early in good ole USA !
No Bolshevik ever had the intelligence to execute such a scheme like the Bush Oligarchy did!
Geeee...we are in Dynasty and Dallas days like Rambo and Rocky.
Only slight difference with Reagan years : the outsourcing, the apexed pyramid of wealth pilfering and hollowing out of middle America, is now MISSION ACCOMPLISHED.
Tovarich, we are rich on fiat reserve's beanstalk! May the world Oligarchy games continue.
There is no game over, we simply walk away from the monopoly board, and move on to parcheesi.
OK, fine take my IRA, but keep your greedy gubbermint hands off my social security check.
so sick of this safety depoisit box in singapore nonsense. SINGAPORE IS NOT SAFE!!!!!!!!!!!
It is a fake democracy and ruthless dictatorship run by one family whose patriarch is nearing his end. The city was built on money laundering profites and 30% of the population are oppressed non chinese who are ready to revolt at the drop of the hat. many of the chinese citizens are leaving too, if they can. The courts are fake and there is no rule of law. The place is swarming with IRS and other countires tax police. Singapore is completely dependent on unfriendly Malaysia for its water and food
This is not the kin of place where you want to keep your money in a safe deposit box
MyRA is the band warming up on the deck. We hit the iceberg in 2008 and the FED has kept the pumps going since.