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When George Clooney Starts Pitching Government Bonds...

Tyler Durden's picture




 

Submitted by Simon Black of Sovereign Man blog,

Last week in his State of the Union address, the President of the United States laid the groundwork for a new government program he calls “MyRA”.

As he explained to the American people, this program will allow US taxpayers the ability to loan their retirement savings to the federal government (which, according to POTUS, carries ZERO risk).

Given that US Treasury yields fall far below the rate of inflation, this is a big win for the government, and a big loser for the poor suckers who loan them the money.

The President then hit the road, touting his one-of-a-kind program. The Treasury Secretary hit the newspapers, encouraging Americans to enroll.

I can see this unfolding like a War Bonds campaign, appealing to Americans’ love of country to get them to loan their money to the government at sub-inflation yields.

In Italy they’ve already used football stars in patriotic appeals to get Italians to buy government bonds. In Japan they use teenage girl bands to entice wealthy Japanese businessmen to open their wallets for government bonds.

So let’s see how long it takes for George Clooney and Matt Damon to make the pitch for the MyRA program… and how long after that it becomes mandatory for all Americans.

Meanwhile, the IRS is doing its part.

One of the best solutions that we’ve discussed in the past to liberate your IRA from this destructive trend is to set up a particular type of self-directed IRA.

But the IRS has been intentionally making it more difficult to set up these structures over the past year. Now there’s even more roadblocks.

In order to set up this type of structure, it’s imperative to first obtain a tax ID number. But due to agency budget cuts, the IRS is no longer issuing tax ID numbers for domestic entities through its call center. They’re saying that now you HAVE to use the online system.

This is one website that the government actually got right. The tax ID application website is fairly straightforward, and it works great. EXCEPT if you are trying to set up this type of IRA.

So if you’re an individual trying to obtain a tax ID number for your new company, no problem. The online system works great.

But if you punch in that you are setting up a company to be owned by your IRA (or some other entity), then suddeny the system crashes and times out.

I had my staff ring up the IRS yesterday to demand an answer. After two phone calls, each with a 30+ minute wait time to reach a human being, we finally got an answer. Confirmation, actually.

The agent told us that yes, in fact, the online system has been programmed to intentionally reject tax ID number applications for companies that are owned by entities like an IRA.

So they have essentially eliminated the option to apply online. But they won’t let you apply over the phone either.

You can apply through the mail, but that will take 30-days, according to the agent. Or by fax, provided that you first cough up all sorts of other documentation.

It certainly begs the question– at a time when the President of the United States is whipping up excitement over this new program to loan the government your retirement savings, why is their tax agency putting up huge roadblocks for Americans who don’t want to become victims?

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Fri, 02/07/2014 - 14:30 | 4412511 DoChenRollingBearing
DoChenRollingBearing's picture

George Clooney is just another Hollywood libtard.  Not sorry for any offense.

MyRA?  No thanks.  I even dumped my IRA in 2008.

Fri, 02/07/2014 - 14:31 | 4412521 Pladizow
Pladizow's picture

At least for now they are asking!

Fri, 02/07/2014 - 14:38 | 4412560 TruthInSunshine
TruthInSunshine's picture

It should be Ron Burgundy or Ron Jeremy, to fit in with the theme of the Obama era (and to be consistent with the marketing of ObamaCare to young Americans).

Fri, 02/07/2014 - 14:45 | 4412587 THX 1178
THX 1178's picture

George Clooney? Ain't that the guy that broke into Andy Garcia's Casino?

Fri, 02/07/2014 - 14:48 | 4412606 Headbanger
Headbanger's picture

Desperate measures for desperate times.

Obama knows the Big Banks and the Fed are leaving him now that he's politically powerless

Fri, 02/07/2014 - 15:00 | 4412674 Fish Gone Bad
Fish Gone Bad's picture

Get AKB48 to do the job.  It worked in Japan.

Fri, 02/07/2014 - 15:47 | 4412846 Jaspergers
Jaspergers's picture

Was just about to say the same thing FGB, the cloontang just stooped to AKB48's level lol. 

Fri, 02/07/2014 - 16:22 | 4412959 EscapingProgress
EscapingProgress's picture

MyRA isn't a loan to the gov't. It is a gift. It would only be a loan if there was an intent to pay it back.

Fri, 02/07/2014 - 22:15 | 4414163 SoilMyselfRotten
SoilMyselfRotten's picture

We have the polished actor and we have George Clooney

Sat, 02/08/2014 - 00:32 | 4414450 rustymason
rustymason's picture

Ha, I see what you did there.

Sat, 02/08/2014 - 08:14 | 4414711 MagicHandPuppet
MagicHandPuppet's picture

They are definitely coming for our self-directed IRAs. And you will lose big with your MyRA. This is why I opted for a self-directed MyFU-MFers! It's made up of physical gold and silver that I keep with me.

I just hope nothing happens to it on my next Great Lakes boating trip.

Sat, 02/08/2014 - 09:01 | 4414744 johnQpublic
johnQpublic's picture

Iiiiii am a maaan

of constant sorroooow

put all my cash

in myRA

i bid farewell to old kentucky

where rand paul spends his days

Sat, 02/08/2014 - 09:39 | 4414764 GetZeeGold
GetZeeGold's picture

 

 

The sequel to My Ra......will be My Bail-InTM

Fri, 02/14/2014 - 18:29 | 4437763 HardlyZero
HardlyZero's picture

Wild Rumor: Jon Corzine will be MyRA Czar ?

Jon Corzine ???

Fri, 02/07/2014 - 17:10 | 4413119 Freddie
Freddie's picture

No.  It's the George Clooney that has a variety of "beard" girlfriends.  Just like Rock Hudson had a beard "wife."

Fri, 02/07/2014 - 15:34 | 4412810 TheFourthStooge-ing
TheFourthStooge-ing's picture

When George Clooney is pitching...

...Obama is catching.

Fri, 02/07/2014 - 16:08 | 4412913 Four chan
Four chan's picture

those gay obama stories durring the time frame that joint smoking hat wearing picture was taken are interesting. 

not that theres anything wrong with that.

Fri, 02/07/2014 - 17:39 | 4413223 lakecity55
lakecity55's picture

That is why he has TOTUS; he gets sidetracked watching all of the men in the audience. With TOTUS he stays on script.

Fri, 02/07/2014 - 14:41 | 4412564 StacksOnStacks
StacksOnStacks's picture

That's just because they know they are fucking you either way.

Fri, 02/07/2014 - 14:35 | 4412542 jcaz
jcaz's picture

You first, George-  put ALL your dough in a MyRa,  I might buy tickets to your next flick....

Now dance for me, monkey-  dance....

Fri, 02/07/2014 - 14:41 | 4412562 Ignatius
Ignatius's picture

And I wanted to like Clooney.

What a cunt.

Fri, 02/07/2014 - 17:13 | 4413129 Freddie
Freddie's picture

And I wanted to like Clooney.

Wow. My gaydar almost went off there for a second.   It sure does when I see Clooney.

 

Fri, 02/07/2014 - 14:45 | 4412584 Never One Roach
Never One Roach's picture

I'm waiting for Barry to offer MyGoldIra.

Sat, 02/08/2014 - 00:05 | 4414403 AGuy
AGuy's picture

"I'm waiting for Barry to offer MyGoldIra."

Did you mean HisGoldIra, or BarryGoldIra?

Fri, 02/07/2014 - 15:29 | 4412791 Final Authority
Final Authority's picture

Up vote for honesty and taking rational action to protect your property. I am a slow learner and did not get around to dumping the FEDS, and their pals the Feds, out of my life until 2010.

Fri, 02/07/2014 - 16:18 | 4412952 Agstacker
Agstacker's picture

I wonder how many bonds Clooney purchased?

Sat, 02/08/2014 - 11:42 | 4414918 HardAssets
HardAssets's picture

Agreed about Cloney (more of the same).

 

For all those newbies to ZH - - - - the actors you watch on t.v. and the movies Aren't really the hero types they play.

They make a living playing make believe . . . . kinda like you when you were 4 years old.

Fri, 02/07/2014 - 14:31 | 4412522 stant
stant's picture

"we got this here depression goin on" soon to be called war bonds

Fri, 02/07/2014 - 14:56 | 4412644 Meat Hammer
Meat Hammer's picture

I though it was war first, bonds later.  Fuckin Putin.

Fri, 02/07/2014 - 14:36 | 4412530 TideFighter
TideFighter's picture

Oh Brother, Where Art Thou. Thou not be in a MyRA, Georgie. 

Fri, 02/07/2014 - 14:34 | 4412532 El Vaquero
El Vaquero's picture

Fred Thompson is already shilling for the banks by pitching reverse mortgages.  Why not have George Clooney pitch for a government scam?  It'll be red team vs blue team!  One pitches for "private" industry while the other pitches for more government largesse.  Both sides of the same coin will be at an all you can financial rape buffet!

 

Or they can all go choke to death on some bags of cocks.  I think I like that option better.

Fri, 02/07/2014 - 15:29 | 4412799 Common_Cents22
Common_Cents22's picture

reverse 401k and reverse IRA's, brilliant!    Lend you your own money at usurious rates.

Fri, 02/07/2014 - 14:40 | 4412537 Grande Tetons
Grande Tetons's picture

So let’s see how long it takes for George Clooney and Matt Damon to make the pitch for the MyRA program

Obama's 11...just need nine more men to pull off the con. 

...or 8 more men and one broad with a face like Mr. Ed. 

Fri, 02/07/2014 - 14:43 | 4412586 Being Free
Being Free's picture

one broad with a face like Mr. Ed

John Kerry in drag might work.

Fri, 02/07/2014 - 14:51 | 4412614 Grande Tetons
Grande Tetons's picture

Allright, then. Mr. Kerry report to the casting couch with Mr. Clooney. 

Fri, 02/07/2014 - 14:47 | 4412603 Alex Kintner
Alex Kintner's picture

Matt Damon has long since given up Hope on the Change-master. 

But Clooney, must be have some 'friends with benefits' type deal going on.


Fri, 02/07/2014 - 23:04 | 4414272 TBT or not TBT
TBT or not TBT's picture

Damon was frustrated Obama didn't do more damage to the republic, faster. Essentially.

Fri, 02/07/2014 - 14:34 | 4412538 maskone909
maskone909's picture

dear stupid fucks

by more bonds so we can continue to build our domestic spying infrastructure and shit all over the constitution.

your friend,

george

Fri, 02/07/2014 - 14:39 | 4412553 Rising Sun
Rising Sun's picture

dear george

 

fuck off and die

 

your friend,

 

the planet

Fri, 02/07/2014 - 14:34 | 4412539 NoDebt
NoDebt's picture

If Obama could create a MyRA out of thin air, on his own, with no legislation passing Congress, what would stop him from making participation mandatory?  What would stop him from mandating that all retirement accounts (401k, IRA, etc.) have at least 50% of their assets invested in government bonds?

Fri, 02/07/2014 - 15:04 | 4412681 XitSam
XitSam's picture

Nothing can stop Obama. He has a pen and a phone.

Fri, 02/07/2014 - 22:28 | 4414190 nathan1234
nathan1234's picture

Yes. Agreed.

Americans have no balls to stop him.

All he needs is a feather to tickle you to death.

Sat, 02/08/2014 - 00:34 | 4414453 rustymason
rustymason's picture

He really is, "The Magic Negro."

Sat, 02/08/2014 - 02:46 | 4414574 donsluck
donsluck's picture

I never understood the phone part. Who does he have to call?

Sat, 02/08/2014 - 07:48 | 4414690 Moe Howard
Moe Howard's picture

Mr. Rothschilde his boss.

Sat, 02/08/2014 - 16:03 | 4415473 sylviasays
sylviasays's picture

Also George Soros and Warren Buffett like to be kept informed. 

Fri, 02/07/2014 - 15:34 | 4412775 Accounting101
Accounting101's picture

This is a perfect example of why the Oligarchs always win. We all get stupid and start rambling about a "government" takeover off our retirement accounts. Well, it's a takeover alright. The same takeover that has been ongoing for the last 40 years. The same takeover that forced you from a defined benefit plan to a defined contribution plan. Your money, your retirement funds, are being funneled upward.

See, these proposed MyRA ( see IRA) accounts will be capped at $15,000 after which, the account holder must roll the money into a Roth IRA. This exposes the account holder to the whims of the stock market and Wall Street criminals. Obama wants private retirement accounts and he is giving Wall Street exactly what they paid for in the 2008 election cycle.

All this stupid ass shit about Obama being a socialist is a colossal joke. He gets up every morning and doggedly works for his masters, the financial services industry and the big banks.

Yes, there has been a takeover of retirement security. Wall Street is your master now.

Fri, 02/07/2014 - 15:47 | 4412847 fiftybagger
fiftybagger's picture

"the financial services industry and the big banks" are socialists.

Sat, 02/08/2014 - 12:11 | 4414976 HardAssets
HardAssets's picture

Accounting101 - IMHO youre right on target.

This is an ancient story - - - socio-path/psycho-paths as parasites living off the rest of the population. (Not only do they live off We The People - - - they actually get some kinda sick sadistic enjoyment from hurting others).

They use whatever instrument they can to achieve their objectives including the money system and 'laws'.

So, there is no solution coming from them and all thats sold as such, - is a fraud.  Thus there was 'social security' which was robbed but promoted as being for 'peoples wellbeing'. Same with 'defense spending' and the war on 'terror' to supposedly 'protect' us. And the same with various IRA 'peoples retirement' schemes and nationalized 'health care'.

When the hell will people stop thinking like children and see that 'they' aren't really their Mommy & Daddy ?

The socio-path/psycho-paths don't give a damned about you & me and our families. As a matter of fact, they despise We The People as being naive & easily manipulated chumps.

(One small example - - - LBJ used to call the people waving & cheering for him 'dumb stupid b*stards' in a lowered voice as his presidential train passed by the crowds.)

 

Sat, 02/08/2014 - 12:14 | 4415011 RaceToTheBottom
RaceToTheBottom's picture

WS and its FED and a disfunctional congress cause all this stuff.  Then the MyRA comes in to save us all.  To be managed and profits taken by the same WS Scum who caused it all. 

Great work if you can get it....

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