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President Obama Explains The "Changes" He'd Like To Make To Retirement Accounts - Live Feed
Speaking at AARP headqusrters in Washington, President Obama will announce orders to the Labor Department to write new rules for financial managers who handle retirement accounts for working Americans. As USA Today reports, The White House says the goal is to end "hidden fees that hurt consumers and back-door payments that help Wall Street brokers," deals that costs retirees billions of dollars in savings. White House officials said they want new fiduciary standards that would require financial advisers to put clients' interests ahead of their own... and "buy our bonds."
We wonder how long before there will be an official asset allocation by dictat...
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LOL!!!
What a fucking idiot.
Simple:
MyRA will become TheirRA...
Funny... I just browsed through the constitution and I can't find a darned thing about the Federal Govornment being responsible for managing retirement accounts...
Did you read the fine print on the back? No, you did not.
If govt is trying to help us then we are undoubtedly getting screwed.
put clients first, hahahahahahahaha, comedic gold
I'd like to shoot every person who voted for that Munky in the genitals, so theycould never breed again
A dollar that Wall Street skims in hidden fees, is a dollar that the government doesn't get to take in bond proceeds and spend. But it reminds me of that article where the Chinese government was supposedly going to clamp down on Jack Ma for IP violations on his ecommerce site and we all thought, Yeah right, that's just the government bureacrats wanting their cut of Alibaba. The fat cats will contribute money to get Hillary elected, and will be allowed to keep skimming some other hidden way.
just tryin' to help out some folks . . . .
Obama gonna hire WuTang Financial to diversify yo' bonds
Do government bonds even give you a return? Between inflation and the tax you have to pay on the interest, is it worth it? BTW, the tax you have to pay to the government on the interest gained from a loan you gave to the government is the funniest part of the whole thing. Also, what kind of person willingly gives a loan to the government?
as I tell everyone and have been telling them for several years now:
GET YOUR FUCKING FUNDS OUTTA THE BANKING SYSTEM NOW, BITCHEZ!
Get it out now...sooner the better. They're tightening the noose around everyone who is too lazy or scared to extricate everything they've got from their system.
Just fucking do it now. I don't care if you have to pull a million dollars out. Fucking do it. You may have to do it 5000 dollars at a time until it's all out, but who cares...just fucking get it done now.
They've already written in the new bankster laws legalizing total theft of all funds on deposit by you in their system. By law you have given up rights and ownership of any funds when you deposit it with them. You are now considered a "creditor" to the bank and you have loaned every dollar you have deposited to them and they are not obligated to give it back.
When the banks fail and close down they will close you out and give you worthless bank stocks in return worth pennies on the dollar. You are at the back of the line when it comes to getting paid back by these mother fuckers.
It's all been written in...all western countries have adopted these new laws. There's no fucking reason to keep any money in their system. Are they paying you interest??? Thought so...nada!
And they're certainly not keeping it safe or "insured", are they? Fuck no. FDIC is a total fucking joke and couldn't even insure 10% of the money in the system...and they won't either. It's all a big fucking scam.
Get the fuck out now. Stash the cash away...buy a nice chunk of phyzz precious metals, especially silver. Buy a fucking safe, and guns and hide it away. It's certainly cheaper and smarter to do that than it is to leave it in their criminal system.
"All your retirement are belong to us now"
The greatest threat to our retirement is not hidden fees it is brazen government.
I was hoping he was going to admonish AARP which is merely one huge marketing company imo. Their "discounts" don't even come close to some other organizations like AAA or COSTCO in my experience. My Dad realized that after one month enrollment however they NEVER take your name/address off their mailing list. You will be hounded forever!
Hey Obozo, speaking of American's retirement/savings funds...
Why isn't Jon Corzine in jail?
Wall St = Federal government already, so it doesn't matter where the dollars go. Just that they don't go to you...
Wall St = Federal government already, so it doesn't matter where the dollars go. Just that they don't go to you...
No shit, Sherlock. We get at least 6 mailings per month hawking their life ins, medical ins/Medicare part XYZ, and their magazine are filled with reader repsonse cards up the ass. Pisses me off to no end. Wish I had joined AMAC instead. What a damn farce, and besides, they are shills for Obamacare. Worthless.
Dang, fat fingered and got a double hit.
aww, come on, the music is still playing.
"Do government bonds even give you a return?"
CUSIP 912810RJ9
Security Type Bond
Security Term 29-Year 10-Month
Auction Date 1/14/2015
Issue Date 1/15/2015
Maturity Date 11/15/2044
Price per $100 112.041418
We conned some folks...
But he did such a wonderful job "community organizing" everyones health insurance!
This won't hurt a bit! ;-)
We conned some folks™
There, fixed it :)
" Cons-R-Us "
Nice Chapelle reference.....upvote times 100 please
LOL! Whatever, but I don't think you understand precisely how war bonds work (which is what this will really end up being about).
It's all Obamas fault, we would be so much better off with a republican sucking bankster cock.
Tweedle dee, tweedle dum. And the suckers keep on voting.
Don't vote it only encourages them
There is an admition of voting for the clown if there ever was one, now the question is; was he was dumb enough to do it twice.
Actually no, were you dumb enough to vote for McCain or Romney and think it would make a fucking difference??
But that's not going to keep them from voting for Hitlery next...
I'm moving to Russia if that happens.
"I'd like to shoot every person who voted for that Munky in the genitals, so theycould never breed again"
I had to read that twice. At first, I was shocked to read your description of Obama's genitals.
yeah,databee d'junkshoot, jus like ovah at d'Chicago crime stistacs page ova dey at da http://heyjackass.com
I would hereby like to ask for the specific definition of what is being referred to as "clients."
"White House officials said they want new fiduciary standards that would require financial advisers to put clients' interests ahead of their own"
LOOOOOLLLLL.....can they apply any standards to the Social Security TRUST Fund!! lol
They have standards:
- Each new retiree will receive 30% of what they put in over the years
- All war operations will have free access to the pool of Treasuries held in the SS ponzi scheme
I think these are pretty consistent and would constitute as standards according to .gov.
Well when you consider inflation over the past 30 - 40 years.......
Let's apply these fiduciary standards first to the government. Then we can make sure that we get the desired results first.
One word: "Lockbox." (sarc, already)
For some reason this reminds me of the "Clinton Global Initiative", which is a touchie feelie, warm, nice sounding name for "Let's us Clintons see how much money we can shake down the entire Globe for as quick as we can".
it ain't for the benefit of us Kiddies, "Folks"
#extortionbriberyandinfluencepeddalingdeluxe
How about a little people stimulus? Have a government savings instrument that pays little people 12% interest on their savings? In the '80s, we called them treasuries.
My daughter got her 1099 from her bank - her checking account earned her $17 in interest.
I told her when I was a kid I got 5.25% on my savings account - those days are gone.
Do the math to understand why rates will not go up.
$18,000,000,000,000 X 12% =
You all are missing out on those "High Yield Savings" accounts that offer 0.02% instead of the measly 0.01% minus fees.
I missed it! Awww, well I was listening to Prison Song, so I get the jist.
General, stop with that antiquated view on life. Here, try the steak. ;)
In terms of the Constitution, I always get a kick out of it when people speak about Army Generals willing to do the right thing and uphold the Constitution.
Too bad a standing Army was not permitted. Nor a central bank, a fiat currency, or public welfare.
pods
It's in the "Good and Plenty" clause. Duh.
"Provide for the common defense, and provide Good and Plenty to all citizens in retirement." Right there in black and white.
But surely you found the expansive Section that outlines the Federal Reserve.
One of our dearly beloved founders signed into law the very first Central Bank... The First Bank of the United States... just a couple of years after the constitution ratification.
Surely they would know????
Owned by the ancestors of the same cocksuckers who own the fed now. Hmm wonder how that happened?
It's part of the lost second page that turned up missing back in 1861 ya know.
I'm sure it's written right there in the Constitution, did you look under the sh!t shmear where Obama wiped his ass?
... the fudgepaker gotta luv hisself sum of dem der azz burgers...
They (IRS, Banks, etc) created the taxes, therefor the exemptions. Pension is an exemption until it isn't.
"Funny... I just browsed through the constitution and I can't find a darned thing about the Federal Govornment being responsible for managing retirement accounts..."
If you look in the secret annex, vol. 2, appendix D, paragraph 912.F.15.A, it's plain as day.
Turns out we not only have a fiat currency but fiat laws. Strange days indeed.
Pool - It does not have to happen - My wife and I just closed our IRA accout in January 2015 - None of our money will be confiscated by the #1 BIG "O" Socialist /Marxist and his WH cabal. Consider doing the same.
It sounds like he wants to help me.....
(should I be worried?)
SOme bullshit that "they" are going to do something for the common folk.
"Throw us a bone, please."
You want a bone, huh? We been throwing y'all bones. Big and hard, aimed for ur butt crack.
I'm hoping they can spin so much bullshit, they bury themselves in it.
....fer chrisf*knsake, can't this divisive incompetent corrupt arrogant narcissitic illegal indonesian alien muslim sociopathic pathological liar in chief fudgepacker for one time just keep its lying flapping mouth closed and leave well enough alone.... if he who governs best by governing least, then the fudgepacker in chief takes the nobel peace prize honors for being the absolute worst f*kn president in the entire history of mankind.... how much more relentless damage can the thing do to our country, our constitution, to all our tax paying US middle class citizens... wake the f*k up sheeple, wake the f*k up...
If Øsurper is doing something it hurts the US.
Forget not, ØbamaTax will make Ins affordable & rates will drop.
The idiots are the (dolts) lemmings that believe what he says as stated.
If you like your retirment account, you will get to keep your retirement account...
MyRAs soon to be classified as the only investment that fits the fiduciary standard.
Who?
Here it comes. Now it's the overt theft of Social Security.
We're going to just put some folks money in this safer account with no back doors to help those evil bankers....and it's gone.
Al's Lock Box, where your savings go to die.
Pretty sure we all know what changes he'd like to make. He'd like to put it all in his and his Wall St. friends' pockets. What's it going to take? Will Americans ever wake up, ever? I mean, in theory, there's no reason things can't get exactly as bad as North Korea if the government isn't stopped.
I'd like to think that when the sheeple start getting hungry things will change, but a lot are too damn fat to do anything.
I have a feeling that at some point in the near future, the language will change to:
"We wonder how long before there will be an official asset allocation by dictat..."
You won't have long to wait. Corp-sponsored retirement plans will be going the way of corp-sponsored health care plans in a few years.
You'll just get pushed into the government TSP (Thrift Savings Plan) where you can choose from 5 index funds, with the "G" fund being the default investment (Government Bonds). And, of course, it won't matter what you choose because they'll just steal the money out of it like they did the SS "trust fund".
Funny how for Americans, events from the past -- like the 'Reign of Terror' in France -- which seemed awfully extreme suddenly starts to make sense.
I'm fairly convinced that history doesn't repeat because people aren't mindful of the past, but because it's being run by the same groups of elites who have the damned cycle running on their own schedule.
the fourth turning?
The "Reign of Terror" did not make any rational sense to the poor schlub minding his own business but who's name ended up on the list because some disgruntled arrogant Jacobin asshole pointed at him in a crowd.
Yes, not funny for those innocents caught in the whirlwind.
Exactly. Pulled my G fund as the first to pull makes out the best. And if you don't hold it you don't own it.
"hidden fees that hurt consumers and back-door payments that help Wall Street brokers,"
Don't get me wrong, it's not that I'm speaking in defence of Wall Street here, but: is it just me or is he really edging closer to Maduro's rhetoric of evil producers holding the powerless consumers hostage with their outrageous prices? Is he taking things to the next level?
Nah, I'm probably just being just paranoid
Yet another step towards the goal of seizing all private retirement accounts.
I'd take the word "retirement" out of that sentence. Otherwise, yeah, basically that.
"Because...gosh darn it...interest rates aren't low enough. Nor are prices high enough!
You will be learned 'merica! The Government is here to...
Here to...
Here to...
Well of course there has never been a socialist government in existence that at some point was not forced to seize private retirement accounts in order save its own over-promising under-funded public retirement programs.
So does this mean no more HFT skimming? crickets,
Hey Mr. Talley man, Tally me Banana
Daylight come an me wan go home.
AARP...The biggest lobby behind Obozo un-care.
Sadly their member/supporters are 100% blind sheep followers. So they will be all for big nanny gubmint in control of whatever they want. They never see anyting for what it really is, and obviously don't care. I guess they also think that they are "sticking it to the man".
I loath how AARP operates, but that puts me in the minority.
"I loath how AARP operates, but that puts me in the minority." Nope there are many with the same feelings
count me among those who despise everything AARP represents
NEVER give those scum at AARP a dime... They lie to Grandmothers as a business strategy worst org out there..
AARP can suck a fat cock.
...with their teeth out.
My Dad was a big proponent of AARP until they backed Obamacare. Hasn't been a member since and never will again. Same thing with my Mother-in-law, and she's a life-long Democrat.
Lots of people hate AARP. Just another propoganda arm of the Feral Government.
They absolutely lost me in W's era with that Medicare prescriptions crap.
Hadn't retired but was getting close. What a scam.
only good advisors for inwestments will be Official Advisors.
basically there should be Govt Agency to decide where money for retirement goes. I bet,
This guy is such a pathetic crook. Why would anyone EVER contemplate believing or trusting ANYTHING this criminal says? Sheesh...
The Labor Department? Since when do they regulate advisors.
FINRA is the only regulatory body that actually enforces its own rules and is in advisors' faces consistently.
You want to protect investors puppet master in chief? End the FED, bring back Glass Steagle and ban HFT.
it is pretty clear to me, that based on all of the past successes of this administration, that this is another step forward into a golden age, a utopia, that one day we shall look back upon with tears in our eyes.
praise obama for the great man that he is. and his servants at the SEC who have done such a sterling job in watching over wall street actions over these past few decades.
I am especially inspired by the work done with wells fargo, hbsc, bank of american, and not least of all.....Em. Effu GLobal.
The words are the same, but you're just not as convincing (sly) as MDB.
Sad part is most sheeple will agree with this cocksucker.
He schooled us on "compound intrest".
I cant fucking believe what he s saying now
Let me be perfectly clear.
If you like your money, you can keep your money.
Elizabeth Fucking Fauxcohantas Warren.......you know right there its all about MOAR FUCKING GOVERNMENT to fix the problem TOO MUCH FUCKING GOVERMNMENT created.
for fucks sake.
If you like your IRA, you can keep...
nevermind
What does this dumb fuck know about finance? trust me folks get as much of YOUR money out of the system as possible.
Translation: "With the Zionist banksters running out of countries for us to loot, we now turn further inward in search of any, and everything, not nailed down, and even then, if we can hammer it loose, to plunder. And we also desire your gun-toting age children as well."
The banksters need to repay us.
"War is a racket." Zion is the racketeer.
Here comes the Retirmement Czar to make sure your money is safe. I'm sure Corzine would jump at the opprotunity.
Corzine: "It's still yours, but we don't have it anymore."
The banksters need to repay us.
noticed that too. This speech sounded very much like Jon and/or Timmah prepped him.
Vaporized or as they say inthe hood..... disiniggerated.
How about we just have real money and price discovery in interest rates?
Duplicate post every single time
Try decaf.
Oh fuck yea, from the Dork in charge who would fuck up a lemonade stand.
I used to be angry, no more, now I'm just amused.
I used to be angry, now I'm ready.
The banksters need to repay us.
Maintaining the arsenal, stacking, erecting Liberty Poles, and building guillotines are therapeutic.
Years ago I was an angry young man
I'd pretend
That I was a billboard
Standing tall
By the side of the road
I fell in love
With a beautiful highway
This used to be real estate
Now it's only fields and trees
Where, where is the town
Now, it's nothing but flowers
The highways and cars
Were sacrificed for agriculture
I thought that we'd start over
But I guess I was wrong
Talking Heads circa 1986 - "Nothing But Flowers"
Not sure why I posted that. It seemed like the thing to do. Perhaps the first and only anti-environmentalist, anti-global warming song. I think it was anti-banker as well, but it is a reach.
Great Song, (I of my favorite) But it's about Peak Oil and the end of Cheap Energy and what will result....
From the age of the dinosaurs
There was a factoryCars have run on gasoline
Where, where have they gone?
Now, it's nothing but flowers
Now there are mountains and rivers
you got it, you got it We caught a rattlesnake
Now we got something for dinner
we got it, we got it There was a shopping mall
Now it's all covered with flowers
you've got it, you've got it If this is paradise
I wish I had a lawnmower
you've got it, you've got it <SNIP> Don't leave me stranded here
I can't get used to this lifestyle
Hmmmmm.
I see your point. It's just that I thought it was being against Al Gore before there was Al Gore. You know....we got rid of all of those nasty Pizza Huts and highways so we could go back to nature. I am sooooooo excited and gratified that I was able to catch a rattlesnake for dinner - because I haven't eaten for three days because we all gave up our cars....and guns....and private property.....and IRAs....and our own doctors.
Is a great song. Cracks me up every time.
Don't worry you stupid sheep, soon your only option will be a MyRa yielding 1%. A more realistic name would be SSI 2.0.
The start of more confiscation.
Obama is just such a fool - as are the sheeple.
I am in the process of writing my congressman, Chris van Hollen - aka Nancy Pelosi's bitch. The thought process goes like this:
1) My aunt is 91 - can't work anymore;
2) She is getting zero/negative returns on her savings - because of ZIRP/QE/Alan/Ben/Janet/Jamie/Lloyd/God's Work;
3) price of everything she needs (medicine, food, in house nursing assistance) is going up because the demand for all that is constant or growing - sorry the Prius Hybrid stomach has yet to be invented although I know tht Solyndra is working on it;
4) Sooooo....like....she is looking at spending her last years in a urine soaked hell hole;
5) All so that the big banks wouldn't be made to pay for their premeditated sins, and the retirement fund managers who wouldn't call them to account in '02, their sins of omission, got to keep their jobs, and those 50-65 years of age got to keep the illusion that their retirement accounts - so stuffed with stocks and bonds pending implosion - were actually worth something.
So having said that.....like Mr. President Dude....ummmm....like....Barry Baby. I see you man. You and Elizabeth Warren are giving it to my aunt the same time you are publically telling her how you are trying to save her, and you are taking it up the a*& from LLoyd and Jamie while publically stating that it is you who are giving it to them. Like.......I see you Dude. OBTW: Rudi was wrong. It isn't that you don't love America. It is that you hate America. You are one devious MFer. And yes. Gruber is correct. J6P hasn't a clue what you are up to. But I see you.
"I am in the process of writing my congressman, Chris van Hollen - aka Nancy Pelosi's bitch. The thought process goes like this:"
The best way to get the attention of your CONgresswhore is to personally do your part to increase gun purchases. Writing to them only moves you up the FEMA "relocation" list.
The banksters need to repay us.
Right on (albeit a little potty-mouthed, but understandably so).
The ONLY answer is for BHO to direct his puppet at The Fed to put interest rates at real MARKET rates, so people like your grandmother (and mine) can get CDs and live the life they were promised in retirement, instead of being forced into risky assets.
But, with Debt-to-GDP at 200%, that will never, never, EVER happen.
As soon as Zyklon-B is FDA-approved, your aunt will b able to receive the cutting edge of compassionate care.
FDA approvals are no longer needed. The decider and chief will simply give an executive nod for its implementation. Instead of Zyklon-B, it will be called "Fucking Happy Gas" where you will spend your retirement in fantasy of paradise as created by government promises. In other words it will be the last thing you hallucinate before you die.
Now that's a retirement plan to die for!
"OBTW: Rudi was wrong. It isn't that you don't love America. It is that you hate America..."
That's because he's a fucking Muslim.
Remember this Freudian slip? "My Muslim Faith".
https://www.youtube.com/watch?v=bMUgNg7aD8M
Uh, I object to the term "urine soaked hell hole" when you could have said "pee pee soaked heck hole".
Awwwweeeee he wants to help us with our money. It's all about chasing the assets then what's left of cash flow. Jesus christ what lying crooks
Just fire evey private broker already and then repost the positions as government jobs...TSA employees can cross-train into these jobs if they want. Outside applications from community organizers will also be accepted. Then pass new laws that only "gains" (via US Bonds) will be allowed with these new gubermit managed retirement accounts. We'll all be rich, bitch.
Ahhh The Kenyan monkey speaks. This sock puppet is following the script to a tee. FYI folks. There aint gonna be any retirement. SS is under water. Tax deffered savings can be taxed at 100%. Your ENTIRE paycheck (witholding) can be subject to an excise that equals 100% of what you earn and then diverted to bonds or whatever boondoggle your so called representatives decide. Confiscate, default, and reset. But the public must be conditioned to accept it. What will be the method of diversion???
On a separate note, I wonder if the Mall of America is being set up for the next false flag.
On a separate note, I wonder if the Mall of America is being set up for the next false flag.
Seems like the logical choice given the name, the size, and the 'vibrant' muslim population in Minneapolis.
Just hang bacon around all the entrances.
Problem solved.
Don't forget the washrooms...
http://www.meatsoap.com/Home_files/meatsoap_flyer.jpg
The only way out for the FED is to dump all bonds in retiriment accounts at negative interest rates.
Sounds like a good idea to me. Why should those thieves skim off of the top of retirement accounts? Those with the negative Obama reactions probably didn't even bother to read past the headline.
Because the results make no difference, the government's "intentions" is the only thing that matters. Right?
If O says he intends to give everyone free money, but actually redirects tax funds to cronies and Wall St. Fat Cats, we should just give him a pass... RIGHT?
money managers take bribes just like congress and owebomba
How about putting the taxpayers interest first before making EVERY OTHER FUCKING GOV'T DECISION??
Obama is a piece of human garbage
How does this con man sell this nonsense especially when markets are at all time highs? Is he going to tell everyone that the stock market is an economic illusion at this point? Nope? So how does this make any sense in his timing of this regulation?
What He needs is a market crash to get people to buy his Myra foolishness and that's counter productive isn't it mr con man?
Yes. What he needs is a market crash in 3...2...1...
A guy who was essentially a community organizer and nothing more before entering politics is now the nations financial advisor. You can't help but laugh at the gullible public. If this even remotely looks like a possible outcome financial advisors may just as well close up shop because any semblance of a free market in stocks and or bonds will be dead in the US. They will feel the need to control everything or it will all collapse and they know it.
Don't forget, he's also a constitutional lawyer
Let me get this straight, I give the guys on Walls Street my money and I get a tax break and they make money for me?
LOL..... who ever believed they were going to break even.
They're gonna need a bigger Renunciation of Citizenship fee.
Translation: The Ponzi is dying and we need your retirement.
We MyRA some folks.
+500
White House officials said they want new fiduciary standards that would require financial advisers to put clients' interests ahead of their own... and "buy our bonds."
I was waiting for the punch line, as only ZH could deliver.
Sonmething like 95% of Japan's debt is held domestically by its citizens.
What makes you think TPTB can't pull off something similiar in The US by decree?
And so it shall be wriiten, so it shall be done.