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"Heartbreaking" Scene Unfolds At Greek Banks As Pensioners Clamor For Cash
1,000 Greek bank branches chanced a stampede in order to open their doors to the country's retirees on Wednesday.
The scene was somewhat chaotic as pensioners formed long lines and the country’s elderly attempted to squeeze through the doors in order to access pension payments.
As Bloomberg reports, payouts were rationed and disbursals were limited according to last name. Here’s more:
It’s a day of fresh indignities for the people of Greece.
About a third of the nation’s depleted banks cracked open their doors after being closed for three days. But all they did was ration pension payments, hours after the country became the first advanced economy to miss a payment to the International Monetary Fund and its bailout program expired.
On the third day of capital controls, a few dozen pensioners lined up by 7 a.m. at a central Athens branch of the National Bank of Greece, an hour before opening time. They were to receive a maximum of 120 euros ($133), compared with the average monthly payment of about 600 euros. Many left with nothing after the manager said only those with last names starting with the letters A through K would get paid.
“Not only will I have to queue for hours at the bank in the hope of getting 120 euros, but I’ll have a two-hour round trip,” said Dimitris Danaos, 77, a retired local government worker who was making the bus journey from his home outside the Greek capital to the suburb of Glyfada.
AFP has more color:
In chaotic scenes, thousands of angry elderly Greeks on Wednesday besieged the nation’s crisis-hit banks, which have reopened to allow them to withdraw vital cash from their state pensions.
“Let them go to hell!” said one pensioner waiting to get his money, after failed talks between Athens and international creditors sparked a week-long banking shutdown.
The Greek government, which closed the banks and imposed strict capital controls after cash machines ran dry, has temporarily reopened almost 1,000 branches to allow pensioners without cards to withdraw 120 euros ($133) to last the rest of the week.
The move has again sparked lengthy queues at banks across Greece — and outrage from many retirees who are regarded as among the most vulnerable in society, exposed to a vicious and lengthy economic downturn.
Under banking restrictions imposed all week, ordinary Greeks can withdraw up to 60 euros a day for each credit or debit card — but many of the elderly population do not have cards.
Another customer, a retired mariner who asked not to be named, told AFP he had no cash to buy crucial medicine for his sick wife.
“I worked for 50 years on the sea and now I am the beggar for 120 euros,” he said.
“I took out 120 euros — but I have no money for medication for my wife, who had an operation and is ill,” he added.
Here’s a look at the scene at National Bank in Athens courtesy of The Telegraph:
As we outlined in detail earlier this morning, the latest polls show a slim majority of Greeks plan to vote "no" in the upcoming referendum (which, as far as we know, will still go on). Many analysts and commentators say a "oxi" vote would likely lead to a euro exit and with it, far more pain for the country's retirees.
Indeed, as we noted on Tuesday in "For Greeks, The Nightmare Is Just Beginning: Here Come The Depositor Haircuts," Goldman has suggested that only once Syriza's "core constituency of pensioners and public sector employees" sees the cash reserves (to which they have heretofore enjoyed first claim on) run dry, will they "face the direct implications of the liquidity squeeze the political impasse between Greece and its creditors has created. And only then will the alignment of domestic political interests within Greece change to allow a way forward."
And so, as sad as it is, the scene that unfolded today in front of the roughly one-third of Greek bank branches which opened their doors to pensioners, may have been preordained by the powers that be in Burssels because as we said yesterday evening, breaking Syriza's voter base may have been necessary in order for the Troika to finally force Tsipras to relent or else risk being driven from office, after capital controls and depositor haircuts force public sector employees to collectively cry "Uncle", beg Europe to take it back, and present Merkel with Tsipras and Varoufakis' heads on a proverbial (and metaphorical, we hope) silver platter.
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The future of all pensioners in the western world...
As long as they keep wanting to remain in the EUR -- literally zero sympathy.
Another reason not to rely on someone else holding your pension monies or any of your money for that matter if at all possible.
"If YOU don't hold it, YOU don't own it."
It's just that simple.
Sadly, this is coming to most Western Nations.
This is what happens to those serving a criminal, corrupt, and illigitimate government. Or, "coming soon to a country near you."
More pain is coming a vote to leave the Euro and a default (fresh start) is their only real option for a better future.
The average "Westerner" has forgotten the concept of saving for a rainy day. That's usually what happens when credit is a way of life (read death).
From which sea of fairness do the Greeks expect good tides? You can't drown yourself in credit and expect liberty at the same time...
What's on the Eurogroups catering menu today...I hope its fish!
clamoring lead to rioting and rioting leads to defensive-false-flags on the part of the government and thet leads to war.
The problem with Greece is not socialism. Socialism can work very well, if you follow the Scandanavian model and it's managed professionally by smart well meaning politicians. Greece simply needs to hurry up and accept a deal from the EU so that they can get the funds to rebuild their economy and set up a system that works for the people.
Comin soon to pension/IRA/401K near you...
Seriously, what kind of idiot still has funds in a bank with all the drama that's been going on over there for fucking YEARS?
Those sheep actually look angry and surprised about their shearing. WTF?
pensions are for the young
that is, the promise of a pension is what allows an employer to pay a young person less money than their work is worth
without that pay differential, the employer would have little chance at generating profits and forwarding them to shareholders
This will never ever happen in the U.S. In ten years a pensioner will cash his pension check and go buy a cup of coffee at McDonalds for the entir amount.
Just wait until the days come when the Free Shit Army starts getting all their "free" benies cut down, like their EBT funz. No mo' "free" lobster tail, cash, and Mt. Dew, bitchez...
The shit will hit the fan so bad it will give the gov-scum all the impetus they need (and want) to roll out the military and/or UN forces for a full martial law lockdown.
And those who prepared ahead of time by stashing cash, food, water, phyzz, guns, ammo, other essential supplies, etc. will be demonized by this treasonous government. They will be blamed for all the problems of the other 95% who didn't do a fucking thing to prepare for the inevitable collapse that we've been warning about for years now.
And, most frightening of all, the military/UN equipment is ALREADY IN PLACE thanks to Jade Helm (yes it has begun).
The guy in the picture needs a caption that says "I didn't work from the time I was 27 until I retired at age 45 to get fucked over like this! That was 30 hours a week for 18 years of my life and I was promised I would never have to work again!"
I see a group of leeches who have no more blood to suck. My heart is not breaking over this. You cannot steal from the young and the productive forever.
Enjoy your final days in the gutters of Athens you old, pathetic fucks. You were warned.
The Greeks are starting to learn to live according to their means! :-)
This is an educational excercise!!!
Americans are about to backstop MBIA for all of PR's debt, i.e., you're about to take it in the ass just like the Germans and Greeks. And EXACTLY like the Germans and Greeks, Americans will do absolutely NOTHING but bitch about the deadbeat Puerto Ricans, and the PRs will bitch about austerity imposed by the U.S. - it will all turn into Kabuki theater for months on end, maybe even a PR referendum. In the end, both will take it in the ass JUST LIKE the German people and the Greeks.
Nobody deserves to bitch about anything until the first banker goes into the wood-chipper. Until then, STFU, grab your ankles and blame other little people. THAT is the plan. That has ALWAYS been the plan.
Can you change the oil in a wood chipper while its still running?
I wouldn't want to stop it for even a minute. Thats one machine we want to keep fed.
These are tough days. But I could live in a FEMA trailer and spend my days eating canned chili. In fact, that sounds great to me.
"You cannot steal from the young and the productive forever."
WTF? The first 18 years were free. When you gonna pay that back?
Children have no obligations to their parents. You volunteer your personal finances for the 18 year "free ride" (it wasn't really free considering I've had jobs since I was 14) when you choose not to have an abortion performed.
Did you choose to be born?
You're right.
The EBT system taking a dump is going to freak out the Grape Soda crowd in Spades.
+1 for use of "Spades". See Charles Bronson "The Stone Killer" 1972.
You mean Purple Drank?
This used to be such a great site. Now it is full of people with half baked BS about how the world is going down into some post apocalyptic maelstrom. Most of the great commentators are gone and this is now dominated by "gonna get my ammo and phyzz and blast anyone near me" BS. Go live in your cave. Have fun.... Yeah go ahead and junk this. I'm out of here and won't be around to see it. You people have been waiting for the end for over 7 years now... There are plenty of doom and gloom sites on the web and ZH has become just another one. Hey, here is an idea. If you don't like something do something to change it. Or would you rather sit here and complain that everything is crap and you can't do anything about it. I think we know the answer to that..."
Good point sdman...everything is getting better and the skittle-shitting purple ponies will make everything alright.
And how dare people express their concerns and opinion.
Sorry to disturb your vacation planning Mr. Big Exec-Man.
Put down your Starbucks, remove your Abercrombie & Fitch sweater and wake the fuck up.
Good point sdman...everything is getting better and the skittle-shitting purple ponies will make everything alright.
Most 'things' (life expectancy, quality of life etc. globally) are getting much better. The real headwinds in the foreseeable future are voldemort on this website.
These financial fiascos i.e. rich fucking the poor - affecting greece etc. - are not exactly a new phenomenon & fundamentally small fries. If that all goes to pot - for the best.
You don't seem to understand.
If banks go under, the people bail them out.
If banks want new regulation, the politicians throw the weight on the people.
If shit goes down the tubes, banks, bankers, politicians, and rich people are NOT going to be on the receiving end. YOU ARE.
But I know how you feel. I'm partial to skittle shitting ponies myself.
If banks go under, the people bail them out.
No, money is printed to bail the banks out.
If shit goes down the tubes, banks, bankers, politicians, and rich people are NOT going to be on the receiving end. YOU ARE.
If you were to compare the average Americans existence now to the average American in the 1910s, there is no metric where 1910s joe blow comes out on top. When charles dickens visited the country in the 1840s he found it to be such a shithole that he lost faith in humanity. Dickens!
Find one metric where quality of life pre-1914 comes out better. Yet, there have been countless bank bailouts since then.
What BS.
What fcking universe you living on.
The rich globalists is THE MAIN MEAL....they fck us every which way.....what about a 60 yr old dude who worked all his life to end up begging for money - a scene to be played out universally - is small fries? The dude is fcked and just went extremely poor quality.
what about a 60 yr old dude who worked all his life to end up begging for money - a scene to be played out universally - is small fries?
You reference this as if it's something new.
Poverty rates:
http://www.ssa.gov/policy/docs/ssb/v66n1/v66n1p1c4.gif
Oh yeh, lets just go all the way back to Roman times to compare. ...fck me. Theres an epic storm coming and you're more conerned with historical arguments.
Let us know how your history preaching works out for you when SHTF and ppl are trying to rape ur wife and steal your food.
1960s ~ Roman times.
But you are right, why bother looking at history? That shit is useless.
Ironic. Instead of complaining about low quality comments on ZH, why not try to do your part to make it a better place?
LOL omg. Are you wishing it was 1995 again? So are we dude bro.
UNcle Sam and Sandiegoman wants you to BTFD... lulz
OR...
the good commenters are sick of Greece threads.
maybe but quite a few interesting commenters seem to have vanished from every thread in recent times ....maybe some got bored and have lives to live but I do miss them...I seem to get fewer links, etc from ZH that are great for learning and informing oneself.
sdman, please go take a nice swim in the Pacific, then go wash off the radionuclides in your California King shower. Whats that? Water no worky? Ho Le Fuk, Sum Ting Wong?
Oooohhhhh, thats what those assholes on ZH are talking about....
Well .... bye
later!
Funny you criticize people for being prepared when looking at pictures of Greek people begging for a little money just to buy food.
:-(
the american dream
Yep turned our TV on the other day and I can't remember the show, something like NCIS, it was packed with memes and one of them was crazy preppers in the woods
"The shit will hit the fan so bad it will give the gov-scum all the impetus they need (and want) to roll out the military and/or UN forces for a full martial law lockdown."
This won't happen. Nation-wide martial law is unfeesable and the UN will soon be defunct. The Fed Gov goon squads will simply withdraw to a smaller area which they can control. They will outright abondon much of what is now known as the USA along with many of their overseas mil bases. The American Empire will be reduced in size, so that it is more managable. Like every other empire before it.
No preppers will be persecuted or demonized. You might get attacked for your things by gov't pensioners, but you won't be blamed for anything. I've noticed that preppers have this wierd savior complex. It's like they all want to be a Jesus (Geezus, not Hayzoos).
I've thought about this, given the water issues in California. It kinda seems like they might just walk away and leave them on their own. Which I'm perfectly fine with.
Don't worry about CA, they still have the celebrities to use as political leaders, a nearly untapped, unlimited resource
Just wait until these scenes reach the US and the warm fuzzies of multi-culturalism will be on display for all the world to see.
No need to wait...already here in the form of Puerto Rico.
We don't see it because this is slamming into Wall Street speculators right now...but certainly Governments with huge un-payable pension obligations take note.
"Americanss go where Government least and private hiring most."
There's no one left with funds in a bank in Greece. These people are trying to get their weekly paycheck or monthly pension allowance out. These people are also business owners trying to make payroll or pay payables.
MDB are you for real?
You remind me of some very uneducated friends of mine!
No, I am not real...
I didn't write this...I wasn't here...
Carry on...
MDB where is your sarc/ tag?
Don't need no sarc / tag...
You are now talking to BOGUS, not BONUS.
I don't think they're the same dude.
Retard. Your sarcasm isn't funny when witnessing real people clamor for their personal property. Bankers have ruined capitalism and sound money.
And if the bullshit posts by you are not sarcasm then you're really a retard.
Everyone should learn from those pictures above. You need to be your own central bank. The financial systems many of us have gotten used to are disintergrating. The people in charge of it are losing control. The debt levels are ever increasing and cannot be paid back. Your ass will be toast if your not preparing for the Great Reset...and even if you are, there are no guarentees that you will make it. Your only going to increase your chances by preparing. It sounds like doom porn, but it´s just flat out FACT.
I wish my grandmother was still around. She grew up through the depression, and her war stories could sober up a drunkard in no time flat. Things got fucking ugly back then. Alas, most have forgotten that past lesson. We will be schooled once again....brutally.
[MDB post] --> s/
.
Socialism is a system of distribution of wealth, and as usual in such systems there are a way more people willing to distribute wealth rather that generate it. Would you imagine Hitlery Clinton raising pigs on a farm? No, she much rather would take a chunk of wealth from a pig farmer pretending that she is doing something useful for society. Therefore, socialism will not work even in Sweden where I heard they have negative rates in their banks already. If so, that is a perfect example of wealth redistribution.
If the Scandinavian model works so well, why is the average mortgage term in Sweden over 200 years?
200 years? Sounds OK to me. Interest only at near 0% interest.
Wow. It's really hard for me to put those two thoughts together. How much of Scandanavia is in the EU?
MDB, could you by chance offer up the names of some American leaders who are smart wel meaning politicians.
MDB, could you by chance offer up the names of some American leaders who are smart wel meaning politicians.
Anything would work if the participants weren't corruptible assholes.
Gotta love that whole "intergenerational solidarity" thing !
Why do you think the FED's issued a terror warning here in the US for the upcomig Holiday. If this things blows they the FED will need to do the dirty deed, aka false FLAG time!
What Greece has is not socialism. The Greek people recieved NOTHING from their government over the last 20 years and have been listening intently to those who warned them about where they were headed. This is FASCISM, pure and simple.
Sorry MDB, but fascism IS socialism. Too many people think they are opposites because of our "model" which describes such things as "left" and "right".
It is the centralization of power and the elimination of individual choice and responsibility. All of the "isms" are just the marketing of centralization. Nobody is talking of free markets because free markets will not adequately benefit the few who want to rule us all. Its just too damned messy and unpredictable in outcome. Every casino in the world knows exactly what they will earn per dollar bet, long before they break ground or sign a lease. Free markets are not nearly predictable enough to run a ponzi scam off of. Manipulation works best in a "collectivised" environment as that is what corruption is.
What's on the Eurogroups catering menu today...Mutton.
The people who benefit when you take on debt have been controlling the narative for so long. They have completely gotten rid of the old time advice to save for a rainy day. People want to believe that money & debt really have changed. They believe that we really can live on debt & there will always be a safety net (government supplied). And the masses vote for whomever promises the most freebies, the easiest life, no matter how unbelievable the promises.
My parents were born in the early 1920's. One was homeless & hungry for most of her adolescent life. The other was from a farming family - not hungry but dirt poor. How quickly we have forgotten how bad it can be when those rainy days come.
got it Scooby..
they will begin to...."face the direct implications of the liquidity squeeze the political impasse between Greece and its creditors has created. And only then will the alignment of domestic political interests within Greece change to allow a way forward."
what they are facing the implications of is over spending and borrowing and can kicking. As I said earlier, I'd pay for a 'no' vote this weekend, but Greece is the poster child for government over spending and borrowing....a scene to repeated around the world in the coming decade. Sorry you had to go first Greece.
One cannot spend above their means without credit, and who gave them the credit? Too much credit, Greedy abankers!
Same problem in all western countries!
duplicate post
Those who have become totally dependent on the system are like drug addicts. They made some wrong choices and are now in a situation largely out of their control. Taking the drugs away guarantees a great deal of pain or even death.
Those who became addicted to the largese of the state through entitlements or employment must hold some responsibility for the initial choices they made. What about those peddling the drugs?
The "addicts" I refer to would not exist were it not for the financial sector and it's main product...debt. Our standard of living has been greatly diminished because of credit based currency and it's corollary, taxation. The financial sector has stolen our wealth and the governments that sector owns has made that theft a matter of law.
Those of us who never became addicts and lived our lives in a financial responsible manner should not be smug about this. Though we are financially successful, the fact is we are enjoying only a portion of the wealth we have created. Success has come to us in spite of the financial sector. Any small business man or woman would know exactly what I am talking about.
The point I am trying to make here is that those facing austerity measures are victims that were created by system rooted in fraud. The financial sector and it's main product is a vast parasite sucking the life away from every human on the planet.
Other than gold and silver, exactly where does one put excess money to earn interest?
Tons of gravel. You can pan it for gold in your spare time.
Gold and Silver should only be used/viewed as a hedge against currency devaluations (a comporable stable, but less liquid currency). Its not an interest investment.
As to where to put it? Dont know. Even the great Paulson went chasing ROI in Greek bonds, and now hes rolling around on the floor en fuego.
A question many ask with no clear answer. If we use the "if you don't hold it if you don't own it" premise above then there ain't much. I think part of the quandary is one is going by the assumption that our savings can somehow be protected from an economiv meltdown. It can't. Cash under the mattress is good short term but assuming the worst it will just be paper in a short period. Put it into long term food stocks and spend any excess on hookers and blow. The memories will keep you warm on those cold winter nights when the electrical grid is down. A few million noveau prosperous Chinese today would advise against the markets. I say when you have enough AU/AG start putting it into good weed, hard liquor and bulk tobacco. The black market will be doing big business after the fall. Rum running worked out well for the Kennedy clan.
I am interested in others ideas on the subject. I'll start.
- Roll it over in to your business, assuming you have one.
- Buy some land that will be of use after. The city McMansion you reside in may not be such a good choice to remain in.
- Invest in some life skills like growing food, raising goats, electrical/plumbing/etc.
- Buy an old pre computerized truck. A restored 40s/50s pickup can be nice appreciating investment. It will also run when we get EMP'ed.
The very idea of earning interest while doing nothing is a part of the problem. Invest money in a local business, or help fund some young person to start their own business if it is a sound model and likely for success. It all has to be done outside the banking system though or you run the risk of losing everything when this happens in your area.
Buy farm land and lease it out to experienced farmers, buy homes or other property that can generate income. Things like that are the only way I can see money (outside of your savings) being put to productive use and generating income.
don't be a parasite -- if you have money be a capitalist by investing in the means for production--be an owner that generates wealth not a stockholder that gives proxy to malignant management to bleed companys till the means of prodution is destroyed. Or worse yet making a profit with usery. Shame on you.
Why should anyone save when the value of their savings is devalued by the constant printing of fiat money?
Saving your surplus production has always been a very wise financial decision. Notice I never said anything about what form your physical savings was in. Gold, Silver, bitcoin, anything tangible you can hold yourself and that won't be taken / devalued by psychopathic criminals works.
You cant save money anymore. The avg FAMILY makes 55k in America. Rent, food, education, healthcare proba costs around 30k per year. Add in taxes, your car that you need to get to work, your phone that you also need for work, internet, cable, and pray tell me, Skateboarder, where in the hell can you 'save' money?
You clearly haven't lived at the bottom of the totem pole and your assisine remarks are a slap in tha face to those that have.
"You need to save money"...That's exactly what the rich say to the poor (newsflash: the rich dont save any moeny either)
yup......I'm afraid that the "cleansing" of the malinvestments will not be the euphoric feeling we all expect
all
Woe to them that make wicked laws: and when they write, write injustice:
2 To oppress the poor in judgment, and do violence to the cause of the humble of my people: that widows might be their prey, and that they might rob the fatherless.
3 What will you do in the day of visitation, and of the calamity which cometh from afar? to whom will ye flee for help? and where will ye leave your glory?
Isaiah 10:1-3
"Laws" that cannot be enforced, like "taxes" that cannot be collected are irrelevant. greece is a perfect example of both, as is Ukraine. I wonder why the IMF/EU is willing to keep throwing money at Ukraine and not Greece....?
Peak hyprocrisy...
What does it cost the IMF to conjure and send to Greece/Ukraine? They want CONTROL. The rest is e-digits and maybe a little ink'n'paper.
You could PhotoShop this image with an advertisement for APMEX. THIS...is why you buy Morgan dollars.
Fate the Magnificent
"Push the Button, Max"
This Greek stuff has been 5 years in the making so what the f**k were they thinking still useing banks. Just wai untill the bail-ins in America it will be the same shit.
When it comes home at last,
Predictable remarks, sans hacker/terrizz propaganda:
"Never saw it coming."
"Didn't ever think this could happen to us."
"Where did we do wrong!?"
Expect remarks, given likely terrizz propaganda:
"OMG - those evil hacker/terrizz took down the world financial system. Must give up more freedumb so they are brung to just(j)izz."
Just setting realistic expectations...
These are government pensioners...try getting your social security money in the US with out using a bank! You can't and either can they.
Long Soylent Green
You write, "As long as they keep wanting to remain in the EUR -- literally zero sympathy." ON THIS PAGE
And then you write, "Sadly, this is coming to most Western Nations."
Well I will propose that as long as ANY NATION wants to remain in the European Union, the IMF, the Federal Reserve System, or ANY WESTERN BANKING SYSTEM then they deserve no sympathy.
At least I am CONSISTENT as I do not play upon Nationalism.
Yet YOUR HYPOCRISY is EXPOSED CLEARLY with you two statements.
And what is really very sad is that over 100 Zerohead readers LACKED the READING COMPREHENSION to EXPOSE YOU FOR THE FRAUD THAT YOU ARE Haus-Targaryen.
And YOU DO DESERVE YOUR COLLAPSE. Nothing will give me a greater joy than to watch your civilization fall into utter chaos as YOU have MISPLACED YOUR FAITH, TRUST, and CONFIDENCE into outright CRIMINALS.
Looking forward to watching Europe BURN.
And the Derivatives Meltdown, as a result of this, and other CRIMINAL ACTIVITIES done in Brussels, London and New York City, has ENSURED THAT OUTCOME.
Laughing out loud.
What a fucking HYPOCRITE.
"Ownership" is a mute point, some say an outright lie, this is really about the control of real assets and resources. Power and control, period.
same as it ever was.
Yeah. Remember all that "Ownership Society" bullshit right around 2004 or 2005? LOL.
All by design and, as you note above, engineered to spread worldwide . . .
http://www.paulcraigroberts.org/2015/06/04/ukrainians-dispossessed-ameri...
The IMF wants their own private archipelago of Greek Islands and purchase it with money from thin air. Come to think of it, if I could create $$ from thin air, I'd like to own my own Greek Island as well.
We have granted the Banksters WAY too much power and control in the world.
At least they can't take it when cash is stuffed under your mattress.
Oh I forgot. Now they want to outlaw cash.
Can always burn it to warm yourself unless the Smog Police nab you.
Handful of Dust and others. A serious question. Since retirement accounts are all tax advantaged in some way, shape or form, how can one "hold it"? I understand the sentiment; but how can one hold their retirement account when it has to be in a government approved institution of some kind to prevent you from, you know, taking responsibility for your own money? Even if I hold physical gold in a retirement portfolio, doesn't someone that government approved have to actually have possession of it?
Unless I'm missing something - I guess what these guys are saying is that in this day and age you may be better served not participating in any tax advantaged accounts - whether a 401k with your employer ((which also means losing any match they might provide) or even holding an IRA for that matter.
How one expects to save any kind of money not taking advantage of these incentives I have no idea. Something I've been pondering. I recently stopped contributing to my 401k and will instead start putting some of that money into a Roth IRA with the thought that at least I can withdraw principle (supposedly).
Beyond stacking and putting some cash under the mattress I don't know what else to do and am open to any suggestions.
You have to put your money into physical assets. Land, tradeable goods and food stores. Even those can be taken from you but that requires a bit more work than just locking a door
These pensioners have been living a lie and counting on tax payer theft to finance their retirements for years. Not one ounce of sympathy for them.
Dup- sorry
You cannot trust the system. They want people to think the Roth 401k is safer by paying your 'tax' up front. About 2 years ago Australia changed their version of a Roth with 0% hit when you redeem to 15% overnight! And they all took it on the chin. Don't think that won't happen here when uncle sam starts tapping into the trillions in pension funds. The U.S. Is about a decade behind most commonwealth countries when it comes to capital and social controls.
Bay Area - If you do not hold it, you do not own it. It is that simple. If you fall victim to the siren song of tax-advantaged this and that, you are at the mercy of 1) the IRS and its rule-making authority; and 2) fate, as so rarely do things go as planned.
I get into with some tax and estate attorneys about Health Savings Accounts and retirement assets. DId you know that you can invest your HSA funds into a mutual fund? Tax free growth baby! Plus, you are eventually going to need to pay for medical expenses, so why not benefit from the pre-tax structure! I tell them that they sound like annuity salespeople.
The amount of things that must go right in order to make these things worthwhile should make everyone pause.
The IRS has already determined what the premium is on having complete control over and instant access to your earned income. It's about 28%. And I am okay with that.
A disciplined person should just save their own shit irrespective of possibly illusory government benefits.
And when that 28% premium is no longer optimal, it will be applied to the back end and reversed, at double that rate.
A simple stroke of tax legislation could impose a 50-60-? % Tax on all IRA redemptions, under the guise of "fairness" for those unable or unwilling to contribute.
Going along with any .gov scheme is consent to be double crossed.
,,, to add, in the next rout, even the buck will be broken in the MM Funds. How could anyone believe their IRA is somehow sacrosanct?
"If YOU don't hold it, YOU don't own it."
Correct, but these people never held "it" because "it" is a promise to take from someone else and give to them.
It's actually not that simple.
Many jobs with integrated pensions do not allow you to have any access or say with regard to your pension until you retire and even then there are often restrictions beyond your control.
Exactly, NONE. After that G-20 meeting last year that put the final legal rubber stamp on depositor bail ins, If you are leaving your entire life savings in a bank in ANY bankrupt western nation you deserve what you have to endure.
The greeks want their cake and eat it to. They want to stay in the very organization that has ruined their country but dont want to pay the bill and can kick.
Let them eat cake- Christine LaGarde.
Let them eat the hot potato.
- Christine Lagarde's cunt passing it on.
This is just how the bankers want us; fearful and needy, clamoring for anyone to give us what we need this week.
No self-determination, no autonomy, no liberty or independence. And yes, the U.S. is Greece, just on a longer rope.
Correct. This "fear" is what allows their false flags and propaganda to work driving the populace towards war. Making ordinary people believe their troubles are caused by some made up villain when the real causes work on K street and wall street. Hang the bankers. Reinstate Glass Steagall. Repeal the 16th amendment. Abolish the Federal Reserve abd return to the gold standard.
Ok, now picture the old man in the picture as a 30-something .gov employee, walking around with a union sign telling people to pay their fair share of his pension, voting a better retirement for himself at the expense of the producers in society, and calling anyone who tells him "no" a capitalist pig who hates working families. He'd vote for Obama if he could. An old useless eater was once a young useless eater.
Fuck him.
What we're about to see is leeches battling leeches. It's the best thing for the host.
Fuck them all.
Fuck you, Bernanke.
"Ok, now picture the old man in the picture as a 30-something .gov employee, walking around with a union sign...Fuck him."
OK, now picture yourself not being perfect. Picture yourself making mistakes and falling for con games put on by expert grifters. Then fuck yourself.
I have never expected somebody else to pay my way.
Fuck him.
You're going to have very few allies if TSHTF. While you're screaming at everyone that they deserve to die I'll be busy assessing the talents of various individuals and working with them to build a better life.
The wages of sin are DEATH.
They do deserve DEATH for their COMPLICITY in the THEFT.
Are you COMPLICIT?
Do you benefit from ill gotten gains?
My talents, and they actually are rather scarce, will be used to bring about that which is deserved to the deserving when the Shit Hits the Fan...both positive...and negative.
So you're ready to let every SS recipient including your grandma die if TSHTF because the old bat deserves it?
Fuck you Meat Head
You never offer anything on this site accept fucking arrogance
I never expect somebody else to pay my way but i am emrolled in a system that I have to contribute by law
Why should I not get something back to what I by law had to pay into................even though I realised long ago i will get nothing
You are and comments are fucking useless and contribute nothing to this site
You should rename to MEAT HEAD
Fuck you Meat Head
You never offer anything on this site accept fucking arrogance
I never expect somebody else to pay my way but i am emrolled in a system that I have to contribute by law
Why should I not get something back to what I by law had to pay into................even though I realised long ago i will get nothing
You are and comments are fucking useless and contribute nothing to this site
You should rename to MEAT HEAD
Fuck you Meat Head
You never offer anything on this site accept fucking arrogance
I never expect somebody else to pay my way but i am emrolled in a system that I have to contribute by law
Why should I not get something back to what I by law had to pay into................even though I realised long ago i will get nothing
You are and comments are fucking useless and contribute nothing to this site
You should rename to MEAT HEAD
Fuck you Meat Head
You never offer anything on this site accept fucking arrogance
I never expect somebody else to pay my way but i am emrolled in a system that I have to contribute by law
Why should I not get something back to what I by law had to pay into................even though I realised long ago i will get nothing
You are and comments are fucking useless and contribute nothing to this site
You should rename to MEAT HEAD
Fuck you Meat Head
You never offer anything on this site accept fucking arrogance
I never expect somebody else to pay my way but i am emrolled in a system that I have to contribute by law
Why should I not get something back to what I by law had to pay into................even though I realised long ago i will get nothing
You are and comments are fucking useless and contribute nothing to this site
You should rename to MEAT HEAD
Fuck you Meat Head
You never offer anything on this site accept fucking arrogance
I never expect somebody else to pay my way but i am emrolled in a system that I have to contribute by law
Why should I not get something back to what I by law had to pay into................even though I realised long ago i will get nothing
You are and comments are fucking useless and contribute nothing to this site
You should rename to MEAT HEAD
"I have never expected somebody else to pay my way."
Your parents paid your way for the first 18 years. Are you supporting them now, or are they on government pensions?
Hauns, will you be able to say exactly the same thing if it happens to you? I understand that you would have done your due of not making the same mistakes.
This is like the superbowl for the elites... i can picture them now watching the chaos and laughing their asses off
The elites are more likely sitting around on the settee saying, "No more buttered scones for me, Mater, I'm off to play the grand piano."
https://www.youtube.com/watch?v=S_CGIWYT8PQ
"As long as they keep wanting to remain in the EUR -- literally zero sympathy"
You're trapped in the political paradigm in which there are no individuals only a "public." This paradigm was created so that the elites can hurt individuals while claiming to do so for the "public" good. As the "public good" is a fantasy there's no reason to feel sympathy for the Greek public but can't you muster up some sympathy for the individuals who have been conned and coerced into this difficult situation?
Yup - we all worry about the 'young' and their ability to find jobs while deeply in debt. But the reality of any economic re-set is that the government can no longer keep its promises to the poor and elderly (even though the reason for the economic re-set is that the government promised them too much!)
Nature needs to thin the heard. That is her job. The old wildabeast does not remain old for long.
The Rothschilds are thinning the herd and there's nothing natural about that,
If I was forced to fight someone in a "no holes barred" fight to the death and my choices were a fit 60 year old man (and all his resources and knowledge) versus a 18 year old man (and all his resources and knowledge), I would choose the latter.
If I was about to lose.....which I likely wood under both scenarios....I would wait until the 60 year old to get a bit older and then kick the shit out of him. That is how it works in the natural world.
Really? Is man not part of the "natural world"? Tell me, how many 18 year olds are in Congress? In CEO positions? Those are the people kicking the shit out of everyone else right now. What is their average age?
Sure I'd love to see that change, but yet, here we are...
It's amazing how long an elite old fart can live when he has access to the organs of lower class individuals.
But the human world is different. It is about adaptability. While the elderly might be weak and frail, they probably have more skills on how to grow your own food or skin an animal than the millennials who are only good at texting and playing computer games.
In an episode of Jericho one young fellow says he doesn't see a problem with the post Apocalyptic world because if they could just get Amazon back up an running there would be plenty for everyone.
And Obama will pay everybody's bills.
He was misunderstood. He didn't say he was going to pay our bills he said he was going to pad our bills.
https://www.youtube.com/watch?v=CNSZ62xiD4M
Why wait? Just join the local version of the Gestapo. They give you a badge and a sidearm. Then you can just take what you want from anybody. If they resist, shoot 'em.
What about fat, weak 60 year old man versus apathetic, ignorant, fit 18 year old? Because that's more likely...