They needn't bother stealing your 401k. Printing -- or creating -- money amounts to much the same thing.
Posted on 12/05/2013 4:34:37 AM PST by bestintxas
In his first term, Obama managed to get his paws on health care, banking, energy, student loans, the auto business, and more. Now he has his sights set on your 401(k).
The left has had its eye on retirement savings for years, but so far takeover attempts have been rebuffed. One egregious attempt was the proposal, following the 2010 financial crisis, to "safeguard" retirement savings by requiring that they be rolled over into Treasury bonds. Had this legislation succeeded, it would have appropriated all or part of the retirement savings of millions of Americans. The funds would have been used to finance further expansion of government. In return, savers would have received a promissory note from the federal government similar that issued by the Social Security Trust Fund.
Needless to say, most investors were not keen to convert their savings into Treasury obligations -- or, to be more precise, into an unsecured note promising a return approximating that of Treasury bonds. That is because, as with every other endeavor, government's management of retirement savings (aka Social Security) has been a disaster.
Those who believe that Social Security has done a good job of investing their savings are greatly mistaken. Over the past 200 years, the real, inflation-adjusted return of the U.S. stock market has been 7%. Had one invested $100,000 in the U.S. market in 1802, one's total return after inflation (or that of oneself and one's descendants) would have been more than $100 billion. By comparison, investment in government Treasury bills would have yielded approximately $50 million.
(Excerpt) Read more at americanthinker.com ...
Good point. In fact — better point!
This is certainly a stock market primed for crashing. Reminds me of Christmas inflatables uglifying yards across America.
Haha!! Jokes on him! I have no retirement account left.
Canard or not. I used my year end SS worksheet and if, since 1966, my $5.00, $25 or $2000 had been invested in the S&P I would have over twelve million to spend at my leisure today.Instead, I have $2000 a month. What a rip-off.
At age 68 now, at least I will have gotten back some of what I paid in, before they start the "means testing b.s."
2010 financial crisis???
The author lost me there.
I recently became eligible for 401k at work, but I’ve chosen to forgo it and just keep the money. Tangible assets are the best investment right now; even if the government wasn’t scheming to get a hold of 401k accounts, inflation alone will make all that money disappear overnight.
I have another eight letter word.
Why does this conspiracy keep rearing it’s stupid head?
I recall some of the stuff out regarding the 2010 discussions about a 401K take over where one of the speakers at a meeting said it was unfair to the poor that they do not have a retirement income, or whatever socialist crap they came up with.
We worked our asses off, sometimes 3 jobs to pay for our medical, home, cars and retirement. Just why, why should those that have worked hard their entire lives have to give it to some worthless crud waste of human flesh that sat on their asses their whole lives?
I just did a pre-2013 income tax run through tax software to discover just about all my social security is being taxed. If my memory is correct, this was tax free until Al Gore came along. What I am basically doing by paying taxes on my SS is subsidizing some worthless scum to sit on their butts. In other words, the worthless able bodied too lazy to work are robbing from the retired that worked their whole lives to have security. It just pisses me off.
Bookmark! Great info.
“There’s nothing in my plan that will cause anyone to lose one dime of their 401K plans. Period.”
“Those were substandard 401K plans offered by bad-apple investment firms. Our new plans offer ‘great value’”
“The Republicans aren’t offering any alternative to our 401K-treasury plan, just a return to the status quo...”
If you are paying attention, you would know that Congress no longer has a role in Amerikan policy or regulation. DaWon could easily invoke some emergency Executive Order commanding the Treasury to confiscate all IRA assets, and the Rebuttlickin “leadership” in congress would do nothing. Nothing.
It will be up to the general public, especially those in possession of sporting devices, to solve the problem.
Not to mention that stocks are grossly inflated.
The basic idea in being part owner of a business is to make money from your share of the profits. In the stock market, the idea is to guess which stock will experience a run of people wanting it so the price gets bid up.
So, I agree wholeheartedly with your post. Tangible assets that depreciate very little and/or have value or income potential in their own right is the way to go.
Tip O’neill: “He wants to send your kid to Nicaragua to die.”
Charlie Rangle: “We should reinstitute the draft”-both shocking lies.
Who will say “he’s coming after your 401k.”
They needn't bother stealing your 401k. Printing -- or creating -- money amounts to much the same thing.
And oh does it piss me off to see the handouts go to the bad planners. How come I didn't get a break on my mortgage? Oh, yes, I was responsible and bought a smaller house than they were willing to sell me. So I was able to keep paying even when things got tight.
And oh does it piss me off to see the handouts go to the bad planners. How come I didn't get a break on my mortgage? Oh, yes, I was responsible and bought a smaller house than they were willing to sell me. So I was able to keep paying even when things got tight.
As I tweeted over a month ago, when Obama gives a teleprompter reading and says “if you like your 401/IRA/Life savings, Gold, Silver, you will be able to keep them with my NEW PLAN!” Bitcoin will ascend to its real market value.
At this point of Globalist Bankster/Socialist Mafia theft, Bitcoin and the its value will be VERY clear.
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