This page has been archived and commenting is disabled.
Treasury Resumes Pillaging Retirement Accounts To Fund Deficit Spending Until Debt Ceiling Raised
Back on January 5, when we first broke the news that the US debt ceiling has been reached, and breached, yet again, we said "And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase." Sure enough, operation rape and pillage is a go.
- U.S. SUSPENDS PAYMENTS TO PENSION FUND TO AVOID DEBT CAP BREACH
- GEITHNER INFORMS CONGRESS ON SUSPENSION OF PAYMENTS TO FUND
- GEITHNER SAYS `G' FUND PARTICIPANTS `UNAFFECTED' BY SUSPENSION
- GEITHNER SAYS `G' FUND TO BE MADE WHOLE AFTER DEBT LIMIT RAISED
- GEITHNER: DEBT LIMIT WILL BE INCREASED JAN. 27 UNLESS BLOCKED
In other words: Congress better pass the debt ceiling prontt, or else it will have to explain to government retirees the tens of billions in deficit funds, i.e., marketable debt, already issued will permanently offset the level in G-fund holdings.
Lastly, any comparison to similar acts of commingling performed by other insolvent entities in recent months is purely coincidental and no Obama handlers were thrown in jail as a result of this post.
»
- 12383 reads
- Printer-friendly version
- Send to friend
- advertisements -
Theres a reason they haven't already taken the money from the 401K and IRA accounts....
....the 2nd Amendment. If the politicians ever try THAT, you'll going to see open season on sleazy politicians, and there won't be a bag limit. [at least one can hope ;) ]
Wabbit season...Duck season...Wabbit season...Duck season... it's BANKSTER season...POLITICIAN season...
Phwewey! This duck almost ready to bug-out for a moment there.
I wish I had read this before I wrote the "War Of The Money Worlds" Update, yesterday. The boys could have asked Bernanke who his retirement planner is.
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
Pensions and Retirement Plans are all bunk anyway. Just pay workers up front for their labor and let them do as they will with it. If they don't plan ahead properly, then fuck 'em. Let 'em beg in the street or get second jobs as speed bumps.
Off to the FEMA-Re-education camps with all of you! Camp Gitmo! Remember that one liner?
Fuck! I am going to have some more vodka while I fondle my AK47. Bitchez!
Hey Tylers...check your copyright notice. It is 2012 here on most of planet Urth...;-)
I'm amused that intelligent people, like you, think the gummint is ripping us off!
Do you know what FICA stands for?
Federal Insurance Contribution Act
It's NOT a Pension plan, it's NOT a savings plan.
It's a government sponsored plan to induce oldsters to give up their jobs so that younger people can begin paying into the plan. c.1933?
Stop pissing in the wind!
Let's focus on making some money in this very fractious time?
So... you've been signed up for nearly two years, yet this is only your third post, with the first occurring in November?
Sorry, but until evidenced otherwise, I'm going to have to put you on my sock-puppet list.
So, you agree with everything that I wrote!
Thanks for your timely response.
Is there any wonder why a record number of Americans are renouncing their citizenship, leaving the country, cutting their loses, and taking their taxes, assets, and retirement nest eggs with them? It's a no brainer.
If you wish to reduce your taxes, start converting 401k's and IRA's into a Roth-IRA. The 6,000 income limit does not apply to conversions. You and your spouse can do this, in parallel!
IF your conversion is consumed by annual deductions, you don't have to abandon your grand-children and local friends.
In 10 years you could be sitting on useful amounts of tax-free income.
Whadd'ya think?
Best Regards!
ps. where's the income to come from?
Consider the ETF's that have Inverses. When the LONG side declines, the SHORT side is increasing.
Charts with Bollinger bands should make what I'm doing quite visible.
Financial surfing. Take a look at ERX vs ERY and FAS vs FAX
Roths can be left in your estate & don't have mandatory withdrawals at age 70.5
I think you need to stop taking investment advice from Suze Orman.
The government has changed the rules and will certainly do so when they need the revenue with the Roth IRAs. Why do you think everyone on here is buying PMs?
Conservatives are morons.
Their inability to frame this, and similar debates, in the media has chapped my hide for a generation.
With all the evidence in their favor, they still manage to lose the argument.
Until they grow some stones, they'll continue to lose.
Lots of money for wars. Deficits are a farce; they do not matter:
http://www.marketskeptics.com/2011/06/the-esf-and-its-history.html