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The Next Shoe To Drop On Your Retirement Account
Submitted by Simon Black of Sovereign Man blog,
President Obama released his 2015 budget proposal this week… and as expected, it contained even more language about his MyRA initiative.
As we’ve discussed so many times in the past, IRAs are an irresistible kitty for such a bankrupt government.
The US government itself estimates that over $5 trillion is tucked away in American retirement accounts.
They need that money. Your money.
Think about it– the Chinese are starting to dump their US Treasuries in record numbers. The Social Security trust fund is also on track to start dumping Treasuries in order to pay out record numbers of retirees.
The US government is struggling to come up with new funding sources… and retirement accounts are by far the easiest target.
Why? Because the majority of retirement accounts at trapped at big Wall Street banks, which are all de facto agents of the government. All the Treasury Department has to do is make a phone call.
Of course, they’ll claim that it’s for your own good. I suspect they’ll wait until there’s a big stock market crash and then say “We must protect Americans from such risky investments. And that’s why today we are requiring these banks to invest a portion of the retirement accounts they manage in the safety and security of US government Treasuries.”
A few weeks ago in his Sad State of the Union address, President Obama announced this MyRA program– a new initiative that will “help” Americans invest directly in US Treasuries.
Then he looked everyone in the eye and said, “These accounts will never go down in value…”
Naturally. How could loaning money at rates which don’t even keep pace with inflation to a country that has racked up more debt than any other nation in the history of the world possibly pose a risk?
After announcing MyRA, Mr. Obama took to the streets, and his team took to the media… flooding newspapers and airwaves with MyRA propaganda.
Yesterday’s budget announcement constitutes the next phase: automatic enrollment.
And I suspect that, just like Obamacare, there will soon come a time when it will become MANDATORY to have some sort of retirement plan set up, naturally with the government option at people’s fingertips.
This isn’t some far-fetched conspiracy theory. In fact, it’s already happened in so many countries over the last few years– from Argentina to Ireland to Poland.
In fact, even the Treasury Department grabbed government pension funds at least three times since 2011 in order to plug temporary funding gaps.
The Federal Times, a publication for senior government managers, ran a story back in 2011 entitled “Treasury raids your pension – but don’t worry, Geithner says”.
This idea is no longer theory or conjecture. It’s happening, and the conclusions are all supported by the data.
Anyone who thinks ‘that will never happen here’ is really fooling themselves… and playing very dangerous games with their hard-earned savings.
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Upper middle class anarchy, bring it.
If you don't hold it, you don't own it.
MyRA is right. If by my you mean the Gubbmint.
I got My-n-Rat he-uh. It ain't paper, it ain't promises, it ain't nowhere but wit me! and it be real, and it be sumtin you blood-suk-in thieves cain't git!
At trapped at, in bold. Proof read, Simon!
Time for a string of government worker "suicides." The higher up the chain, the better.
Two shot to back of head with long barrel rifle is most common method of government assisted suicide.
MyNRA....bitchez
come and get it, and bring scuba gear, cause my silver dont float
IRA...ther not give to government money thinking is for own retirement but is really for capricious spending in slush fund of political class to buy favor of bankster class.
Boris,
One round of .22LR is sufficient if the shot is good. And if you really want to make a point, put it right between the eyes, so anyone else will know you were able to get in front of him, at your leisure, at any time.
But we at ZH don't condone such things in times of peace, yes?
"LR" = "Long Range"? Yes, is sufficient for government assisting suicide.
Couple of thoughts on the article:
1. I agree the roll-out of such a program would DEFINITELY take place right after the "market" does a half-gainer off the Sears Tower again. Without question, that would be the timing. Handy for the MIC that the "markets" are almost fully controlled by the government and the big banks.
2. Roth IRAs and Roth 401Ks would be the first to take a hit. Watch for government to phase them out or simply begin taxing the withdrawals from them (which are currently tax-free). That's your warning that time is short on all other retirement accounts.
2. You can write off the US if this goes down. Steal middle class people's retirement accounts and you will see a loss of wealth that will make the housing crash look tame. AND YOU CAN ONLY DO THIS TRICK ONCE.
401K and IRA withdrawals have been taxed as regular income since their creation. Only the Roth accounts are not taxed.
Isn't that what I said?
They already have a mandatory retirement savings plan, it is called social security and it takes ~16% from everyone's paycheck every day of their life till they hit retirement age, which will be 80 soon.
i'm thinkng fukushima is going to end up fixing social security for us
If Nagasaki and Hiroshima didn't work to solve the Japanese aging problem (Japan is the ultimate inverted age pyramid) why would anyone with the smallest knowledge of radiation physics think Fukashima is going to have any effect on the population? (Hint radiation falls off as the inverse square from its source, as does any sort of radioactive contamination) One individual actually got dosed twice (both Nagasaki and Hiroshima) and lived into his 90s despite major radiation burns.
Correction, in 3-D world of radial dispersion, intensity of RADIation is inverse cube from source.
Boris make is good sense for of total accumulation radiation. Intensity, much howevers, still spherical slice of radial distance from source is be pseudo-surface of 2 dimensions.
It's a good thing radiation doesn't take the form of solid emitters of alpha or beta particles and moves along with liquids flowing in a very non-radiative manner (like rivers or roof-eves, gutters, sewers), radiating energy from those particles as they are moved by fluids.
That was a close one.
Maybe you should also teach us all about global warming hoaxing too.
Very true. But it won't matter.
The real reason why these types of accounts are at risk is because the retirement plan industry doesn't spend even a fraction of what, say, the National Association of Realtors spends on lobbying. You'll see retirement plans looted and plundered LONG before you see any attempt to trim back the motgage interest deduction.
Those are the two big "competitors" for what they call "tax expenditures" in Washington (which are actually only tax DEFERRALS in the case of a traditional retirement account, but a true dead-weight peranent tax loss with mortgage interest deductibility). Politicians don't care and don't want to care. Whoever lobbys with the biggest bucks wins. Period.
AND RIGHT NOW RETIREMENT ACCOUNTS ARE LOSING BIG AND LOSING FAST AGAINST MORTGAGE INTEREST DEDUCTIBILITY IN THE DC TAX-GRAB WORLD.
And that's just the tax side of things. There are some (not just Obama) who would advocate a full government take-over off all retirement accounts TODAY. You probably don't want to know the full horror of the situation.
The stock market is the lobby for the roth IRA and 401K. There is no way they could dump those stocks and buy bonds without crashing the market. That being said thats probably what they will do.....crash the makets.
They are litterally that stupid.
401K and IRA withdrawals have been taxed as regular income since their creation. Only the Roth accounts are not taxed.
Because they WERE taxed BEFORE they were invested in ROTHS.
Boris always say, you can sheer sheep till is old and crusty, but can only skin sheep single occasion.
Yep they must decide if they want lamb chops tonight or a sweater every christmas. Being politicians they do not think about tomorrow. Lamb chops it will probably be.....unless "we the people" have a hanging sooner but with so many sheeple running around there is no way to make it to the tree ("voting booth") in time.
>>> Roth IRAs and Roth 401Ks would be the first to take a hit.
Roths may well be phased out, and soon (as the law now stands, Roths are indeed "too good a deal" for the muppet investoriat.) But I very much doubt that the original contributions to a Roth plan will be taxed; after all, such contributions were fully exposed to income tax before they were even put in the plan.
Surely the US government is not so broke, so stupid and so evil as to break a solemn promise. /irony
Thank you for saying Sears Tower.
I think MyRA is both a 'Bail In' and a 'Bail Out.'
It will move funds over to US Treasuries, creating demand and putting a floor underneath them in a time of urgent need (at some future date). This thereby 'Bails In' the Government Debt market.
It will also 'Bail Out' the FED who will gladly sell said securities in order to get them off their books.
My crazy theory of the day. Plausible?
(What am I saying, this is CRAZY............ the US Gov. would never try to fleece it's own citizen's like this. Forget I even mentioned it. Now get back to your regular programming).
P.S. If they do pull this off it would easily one up the whole TARP 'gun to the head' extorsion scheme (which oddly enough worked flawlessly).
Does anyone care?
It is not money but fiat currency... SO you cant lose ;-)...
Purchasing power will be nill when you withdraw/maturity... I saved 40 years to blow it all on McDonalds food like products for one meal... -.-
Very astute post;-never looked at it that way. I think you may have hit a bulls-eye. Congrats. Milestones
MyRA is right. If by my you mean the Gubbmint.
= What's yours is mine and what's mine's my own.
True. That being said I cannot think of anything more likely than to turn the average fat, content, bathrobe sporting McMansion dweller (those who the rotten system desperately needs to contiinue functioning) against the whole damn #VichyDC cherade than a move on retirement savings.
It would be #VichyDC's Marshall Applewhite moment, bathrobe anarchy. One can dream.
Special Retirement Account:
22 Billion Dollars found: Photos of a Mexican drug lord's home after being raided
The money and valuables found in this one house alone, would be enough to pay for health insurance for every man woman and child in the USA for 12 years!
All photos here:
http://homment.com/drug-lord-home
Basic arithmetic ... really isn't your strongest suit, is it?
That's $5.88 per person per year. What's the problem?
Try $57.89 per person assuming a population of 380 million.
If that $57.89 per person is used for a prescription cyanide tablet, no more money need be alloted for healthcare
22e9/312e6/12 = 5.876
@bonin006,
You originally said "per year", which would be $70.51 per person ($22 B / 312 MM people). You twice quoted $5.88, which is per month.
read the original claim:
The money and valuables found in this one house alone, would be enough to pay for health insurance for every man woman and child in the USA for 12 years!
The 12 in my calculation is the 12 years claimed in the article, It has nothing to do with 12 month per year.
Data may lack certain skills related to human emotional behaviour, but you should not think you are any match for logic, mathematics, or reading comprehension.
A lot of tards here like to downvote math & evidence. +1 for you
Sad.
Global warming is real, math isn't an opinion & abortion isn't murder because a woman who is pregnant is one life, not two.
Facts. Math. Evidence. Reality.
It grinds you like a kick to the balls with sandpaper, hey -1 trolls?
The quote is from the link. FYI.
The quote stated that 22B in CASH + other valuables / property value, etc, would be enough. It did not say 22B alone would be enough. But you guys may still be right, it might still not be adequate for even 1 year.
Nice story from 2007
Words from the prophet George Carlin from years ago......
https://www.youtube.com/watch?v=sJeFrqBJF6E
"They're coming for your fucking retirement money.....It's a BIG CLUB...and YOU AIN'T IN IT ! "
"If you like your IRA, you can keep your IRA ....
Lemme guess. I should put my paper in a more stable overseas bank...
Well played.
Take the penalty now. Only a few sheep will be allowed to leave the heard.
I strongly suspect that if they see money leaving....boom...up goes the electric fence...and the rest of the sheep are penned.
its already gone, only the accounting remains to be done.
You can bet when things go bad that they will try to take this money from Pensions and retirement accounts....a drowning rat has no morales
Neither do 320 Million hungry people. Quess who ultimately has the ace of trumps? How does 200 million guns sound? Milestones
When they take your pension, don't worry they won't let you starve. They will also take your gun as things are more civilized that way.
Why don't they just print more money, instead? It's working so well, after all.
What retirement account?
Wow! You lost your retirement account in a tragic boating accident? Me too!
Didnt I read somewhere that you could convert your retirement savings to physical?
"No one saw this coming!...." the Sheeples cried out.
da people: Hu couldanode!
Mr. Hu: No really guys, I di'n No!
Ms. No: oh no, nuh-uh, you're not putting it on me this time.
Then he looked everyone in the eye and said, “These accounts will never go down in value…”
How can this be claimed. Am I missing something here?
Same way the douche bag said "If you like your current plan, you can keep it". IT'S A LIE!!!
Daz rayciss.
VALUE is used in this sense as a relative term. your MYra is an accounting ledger credit that has a low rate of interest added to it, so the value never goes down, UNLESS you compare your 1% rate of return to the inflation rate, which means your purchasing poer value is constantly dropping.
Then he looked everyone in the eye and said, “These accounts will never go down in value…”
How can this be claimed. Am I missing something here?
... just your retirement account.... but then, you didn't save that.
Sort of depends how you define "value." If "value" means dollars, then the claim is true. Invest in the debt of the federal government of the United States and the federal government of the United States can guarantee the debt instruments (bonds) will be paid at full value in U.S. dollars. However, if "value" means "what can I buy with the dollar payment on those instruments" then the claim is a forward looking statement within the meaning of the Private Securites Litigation Reform Act of 1995, which are usually accompanied with the disclaimer: "Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management's belief as well as assumptions made by and information currently available to management." No one puts the "zero" in "zero hedge" like the federal government of the United States.
Mygov =myira,myobamacare,myssi,mymedicare.....myass!
These accounts will never go down in value, but the cost of living will increase exponentially bitchez. And by exponentially I mean you're totally fucked........
Anyone want to bet when they will the announce that Jon Corzine is going to be appointed as the MyRA czar?
That's the HONORABLE Jon Corzine........
When is Madoff slated to get out of Club Fed?
hurry!!!! listen to simon and buy gold coins and bars in 15 different countries and store it in their banks, in their sovereign territory, because its safe everywhere except the u.s........
'zactly!
Simon Black is a no-nothing, Mr Hair on Fire, alarmist douchebag
Bank of Moldova, here I come!
How many deposit boxes can I get in France and Spain?
Nigeria? What?! For just 99.99 more a month I can have my gold right next to the same gold as a Nigerian Prince?
SIIiiiiiign me up!
The chinese are dumping treasuries in record numbers....
tough to believe anything this guy says after he blatantly lies.
Blatantly lying is the new normal, Fonzie.
Do you know who blatantly tells the truth? Toddlers and the mentally challenged. Only relatively intelligent adults have the need to bullshit. Interesting, eh?
Re: Only relatively intelligent adults have the need to bullshit. Interesting, eh?
Bullshit is how you know you're dealing with an adult or child. Adults succeed by manipulating children with bullshit and creating bullshit for themselves about why it's perfectly moral to do so - this self-bullshit is commonly called duplicity.
The semi-austistic don't "get" bullshit either. Which is why so many semi-austistics are Libertarians and Socialist (in various flavors).
You must be a toddler. Kid, fuck school...you ain't gonna learn squat.
Semi-autistic? Man, and here I was stumbling around, working under the notion that a person is either a fucking retard or they're not!
This is great news. Per Hollywood, it means that the rate of incidence of Miracles! has just gone up astronomically. Now, granted that full blown miracles are rare but that simply correlates to the number of magic retards found in the world.
So you see, if semi-retards can produce smaller, yet more numerous miracle effects, we might actually see an increase in the volume of miracles performed. We just need to energize and engage these semi-retards to full capacity.
Shit, we might even top the Ingalls family record with firepower like this, and those fuckers were bogarting a miracle a week.
I don't think that word means what you think it means.
Being overly focused to the internal, trouble communicating, sometimes stuck in repetitive motions & definitely needs a routine to the second to follow - that's what you can expect with autism.
Magical powers like Rainman (actually Kim Peeks in real life) are rare indeed.
But I thought we already had a manditory IRA ...it's called social Security ,and it's in a lock box Al Gore said so !
…disguised as a worn-out copy of the “Count of Monte Cristo”
I hid mine in an old issue of JUGGS. Anyone tries to open it they'll just think the pages are "cemented" together.
The social security lockbox is stuffed with IOU's. The cash was long ago spent on welfare.
ooh, look at this one...its for a lamborghini - better hang on to that one!
A sure a sign as any that MyRA will be different. As we all know, it's always different this time!
the majority of retirement accounts at trapped at big Wall Street banks, which the government is the de facto agent of.
Fixed it.
Exactly what I wanted to correct. It drives me insane whenever I hear how Gov is forcing the banks to do shit, when it's so obviously the other way around.
Oh bullshit, no one other then the State is sticking a gun in anyones face AND has the absolute power of force except the State. Now if you want to talk about bribing the guys that you elect as temporary agents of your government looking the other way that is another story but there is only one absolute entity that has the power to initiate force and that is the state.
abadoned
Like Blackwater / Academi / Xi?
Who operate globally and by "operate" I mean MURDER?
I have a federal job, and part of the retirement is the Thrift Savings Plan. there is the G Fund, which invests in USTs. I can easily see the time when we will be required to have at least XX percent invested in this fund (among other funds).
But there is no fund directly linked to precious metals, and what some people have done is to borrow against the fund (at no penalty and an interest rate of 0.375% per year) you can get a cash loan (presumably to by a house or a car) and by PMs. For me it was a no-brainer.
Re: I have a federal job
You might a popped a few tiny-brain circuits with this post.
Federal Workers are considered "those people" here. But, you bought gold... Wow.
This could be a reality-tv show "tribal council" moment! News for tribal council
How much did you buy and what is your address? Nevermind, I have a friend at the NSA. See you soon.
As long as the top 10% are kept happy AND as long as the trash-class thinks "those people" got their money there won't be a revolution; just pissed off trash-classers on welfare creating bullshit about how their own welfare isn't welfare.
It's the perfect system.
A MyRA that never loses value and its mandatory? Sign me UP!
Fuck it I'll one up you .gov, how about I got withdraw all of my money in the bank and put it in a fucking bucket and light it on fire? Or, just a theory here, but I start using that money as toilet paper...don't worry I'll save it to return it back to it's rightful owners after I'm done.
Lump sum will not be available.
A lump in the head will, however, be available.
Nice not to be a debt slave. Anyone keeping any "assets" in the system are the real risk takers. Dropping out freaks out the elite...black market is the best!
Blather...
It's a Myracle!
this will make perfect sense after another 2008-like meltdown.
is there a scheduled time for the meltdown - or would it occur after the midterm elections?
please inform - thank you
your guess is as good as any MC... it's ripe and anything could set it off at any moment IMO with or without QE...
Can't wait to see the Hank Paulson clone tell us that the world as we know it will end; unless we give his criminal banking friends $7 trillion (more).
Obama is lying. Well, since he is so devoid of economic education, it is possible he believes what he says.
Assume every politican lies all the time.
I'll bet many people will be surprised at the number of sheeple that will have no problem wth the gubmints fat fingers in there IRA's. Perhaps a little whining, but no real push back. Wait and see.
there = their
..
Actually, MyRas have to be rolled into other Roth accounts when they hit 15K if I understand it right. I do not think the MyRA is the "big grab", but I agree that one day, that is coming. Some of your retirement should be invested in lead and gold.
They certainly will not telegraph the full extent of the fucking at the onset. Right now, .gov is just showing us the lube.
Incrementalism, bitchez!
Ok, so what that accomplishes is tax on the money when it's rolled over into a Roth. It would take, what, maybe two or three years to reach that. And, I'll bet that you are still not allowed to change the investment type, must still remain in USTs. So, your money is theirs when converted to UST's, then you have to pay tax on it when transferred to a Roth, AND I'm betting you won't be allowed to cash in the T's to pay the taxes (and there will be a penalty for early withdrawal if all the Roth rules haven't been met at that point).
The IRA laws require the "independent" aspects, meaning the owner is the only one allowed to direct the investments. Of course, laws never stop this prez, so they are little help. What I see is a more egregious intent. It will be the METHOD of withdrawal. We will not be allowed to simply take out what money we want to take out of our IRA's, but will be "allowed" a certain amount every year, an amount the govt deems sufficient for us to live.
Knew this would be coming and put everything into Roths the DAY they were conceived. No guarantee the govt won't get to them, but I can, at least, take EVERY PENNY out without penalty or tax in a matter of three days if I see it coming.
If you have retirement accounts with a broker, make sure you opt out of any bank that brokerage may own outright. This eliminates a bank as the administrator of your IRA. Might be a teensy protection if the planned scam is to be run out of banks.
Well then, you're all set. When the $15,000 value of your MyRA account is converted into that Roth IRA, Wall Street will have all of your money.
Well played sir.
hahaha payments can only be made in bitcoin and taxes on that income will be more than zero and payable only in dollars! hahahahaahaha
They already did it. It's caled Scial Secuity
BOHICA.
The confiscation of 401K's and IRA's will be accompanied with a honey laden weaving of .gov speak and provisos:
"For the safety of your savings the Treasury Department has converted them into Freedom Bonds which will earn a consistent rate of interest1 and never lose value2. Your savings will be safe from stock market risks, and backed by the full faith and credit of the United States Government. Freedom Bonds be there for you when you need them3."*
1. Rate to be set by Treasury, adjusted for inflation using chained CPI.
2. Yield on the bonds may be affected by total balance of Freedom Bonds and level of national debt.
3. Withdrawals made before age 75 subject to 25% early withdrawal penalty.
Re: Freedom Bonds
I'm likin' it.
Throw in a few slow-motion eagles and flags for the "patriots" and it's a sure winner!
Have your people call my people, let's manipulate some dumbasses.
I'm waiting for the new series WAR BONDS and that's where I'm putting my entire life savings.
4. Repayment amounts will be deducted from your social security payment as a forms of mean-testing.
5. If you die and therefore are eligible for no further social security payments, you also are ineligible for any further dispursements from your MyIRA.
ebworthen
3. Withdrawals made before age 75 subject to 25% early withdrawal penalty
You forgot #4. ALL funds remaining will NOT be dispersed to children as an inheritance.The left over funds go straight to the Gov't coffers.
So Solllllllllllly.
4. Except for withdrawals prior to age 65 which will be subject to 80% penalty.
Obama can dream the fuck on about me handing him money for 'safe keeping'
Not a huge fan of Mr. Black, but would give him credit for not suggesting the conclusion that gold/silver will rally when the market crashes under this scenairo.
Bring on the MyRA already.
@ShrNfr
The 15K limit is subject to change at the whim of the dicktater.
Wait. So we can't count on Social Security???
What's this world coming to?
Me thinks this would bring some marching on Washington DC... Sure crosses my red line...
Red lines are subject to change without prior notice. I know that cause Obama told me so.
Who actually buys that crap (US Treasuries)? Other than organizations that are effectively legislated to?
Re: Other than organizations that are effectively legislated to?
I don't know, but there's a guy who posts on here about once a day asking the same question in a different way with lots of numbers.
Does it really matter? Debt = Money = Faith.
It's faith base economy.
And just call it a tax and John Roberts will love it.
Heh. yeah. Somebody done GOT to that motherfucker.
They will take the money and even surround it with the glow of idealism and patriotism. All they have to do is arrange a big enough war.
Will I be able to use my EBT/SNAP card to contribute to my " Mandatory Retirement Account" when the time comes?
hahhaaha that IS your retirement account!
A retiree
on mah ee bee teee
A retiree
on mah ee bee teee!
What's a "retirement account"? (What's "retirement"?)
Why didn't he just call it "the affordable retirement plan?"
He could use a slogan such as "If you like your IRA, you can keep your IRA!"
Or, "if I like your IRA I can Keep Your IRA"!
You do know that the MyRA must be converted into a Roth IRA when it reaches $15,000 in value, right?
So I guess you are correct. "If you like your MyRA, you can keep your Roth IRA." Wall Street will love you for it.
.
Someone have a problem with myRA ??? Just get John Roberts on the case. Problems solved.
MyRA is for Patriots, everything else is for ter'ists!
Baling out the Fed in one stroke to remove all the QE off its balance sheet and into pensions is so obviously the ONLY way the Fed can escpape the trap it has made for itself. The Treasuries it owns can never be sold without crashing the bond market. Easy way out. Dump them in pension funds.
By the way, the UK (where I am from) has also just announced a mandatory pension saving scheme with automatic enrolement. It is run by employers and is not yet mandated to buy UK T Bills and Gilts but is is certain to happen. You can opt out. I have.
The clothes have no emperor.
There is a basic solution to all this government overreach, whether it be surveillance, heavy regulation, endless government benefits or these cypto-wealth confiscation schemes.
Pass a law that requires each and every one of these government programs to be first fully implemented upon our so-called representatives, their immediate families and of course the legions of federal bureaucrats and their families as well, then on to the military, etc.
You think the IRC would be the evil freak show that it is if every Fed and Congressman's family had to comply with an annual audit? There is a great first step.
The shrieking hypocrisy of the Amerikan broken government is traced directly to a political class that does not abide by the very laws they create.
The DC gun grabbers that get free armed security and the random concealed carry permit for them and their daughter, all the while they pander to national registration and confiscation.
Obamacare for everyone; except big companies, campaign contributors, staffs, etc.
Until people in federal SERVICE and all the wonks on Congressional staffs and the judicial and executive - Deep Government - is met full-on by their own poison and barbs, there won't be any change.
These parasites WILL kill the host in time.
There is a simple solution: sokkomb.
Roll tha muthafuckin guillotines.
Well, the Government is a defacto arm of the Wall Street Banks. Other than that being backwards, this all makes sense.
I suppose the endgame here is that only by future investing in a MYRA can you get a tax deductible account or a ROTH (to be renamed BIDEN) MYRA.
So if most people have their money in the stock market then what will they do ? Start selling stocks which means they end up with less money to buy T bills.And let's not forget about that pesky little jobs problem.
i knew it. right from the next morning after his speck in jan. the next morning becuase theres no way im stying up to listen to such crap.
But whats scary is if they are turning the ukrain thing into the reason to telling cnn to start making those beautiful people tell everyone that this is the word from god and knell down and offer yourself to the all mighty usa
No mention of the feds going after the money in pension funds. Wonder why not? Is there some subtle difference I don't get between an IRA and a Pension Fund?
While we're at it, why wouldn't the government take the equity in all FHA financed homes and "give it back" in the form of "secure" treasury notes that would be held for you until you reach, oh, say, 85 or 90. You know, to keep you from foolishly wasting those assets you'll need for your golden years.
Oh, and why shouldn't the government take 100% of your salary, decide how much you need to live on - the essentials, you know - load up a little card for you with that amount each month, and 'invest' the rest for you in - wait for it - rock solid 30 year US Treasuries. No early withdrawal, naturally. Gotta protect you against wasting your money on non-essentials.
I'm feeling all warm and fuzzy and safe.
Your excellent ideas will be immediately considered, citizen #15613273179. Thank you for helping uhMurrika.
Sincerely, Jack "Loopy" Lew & the Free Jon Corzine Foundation.
I suspect they’ll wait until there’s engineer a big stock market crash and then say “We must protect Americans from such risky investments.
fixed it for ya..