Skip to comments.Obama Begins Push for New National Retirement System (Occupy Your Savings)
Posted on 11/15/2012 12:47:45 PM PST by Heartlander2
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administrations effort to nationalize the nations pension system and to eliminate private retirement accounts including IRAs and 401k plans, NSC is warning.
(Excerpt) Read more at nationalseniorscouncil.org ...
Is this real, the orignial article?
I went to the website.
No byline, no date.
When was this article written, and when was the meeting held? When I click on the link there is no date on the article and the picture of the magazine shows Nov 2011. Just wondering if this is fairly recent. I know the idea has been tossed around since he was elected.
you and me both....
It will be invested in those overrated junk bonds known as "treasuries."
I hear ya. From an earlier post of mine today.
I will take this time to apologize to any rocks I may have offended in the past. This guy (Obama) isnt intelligent enough to compare to rocks.
Please forgive my insensitivity.
Bubble, actually. The "correct" value of a stock should be the current cash value of all future dividends plus the present cash value of anything that would end up being paid to stockholders if the company is liquidated. Those who sell buy price below that price or sell it above make money; those who buy above that price or sell below it lose money. Of course, without a crystal ball one can't say what the "correct" price is, except in retrospect, but it's important to note that the real value of a stock, if it's affected by the market at all, would only be affected by the extent to which the market affects future dividends. If people go crazy buying stock at $100/share when it's fundamental value is only $20/share, those people who bought at $100/share are either going to end up losing $80/share, or foist their losses on someone else. The fact that they spent more than $20/share won't make the stock worth that.
If 401ks are confiscated. Violence is justified, just as it would be against a stickup man at an ATM. They are playing with fire. People tolerate general attacks on prosperity like more taxes, and bad energy policies.
But an outright theft of savings will result in someone resorting to direct violence against the political perpetrators.
well, if you had employer sponsered, so called gold plated health insurance, they just confiscated that. we’re are too timid, and, as someone said above, they tend to do it incremntally, so we become acclimated.
Maybe all this way preordained...that’s why the hefty penalty for wihdrawal
Its coming, folks!”
So is another civil war.
If this is true, the resident of the U.S. needs to be educated. Nothing makes a people lazier then taking away all their incentive to take care of themselves. What a cruel man, taking what is not his to give, makes him a tyrant.
Wish I hadn’t read any of this.
Doesn’t matter. Rebellion would happen in a different way. As somebody said up-thread, people would cash out their 401(k)s and other IRAs and take the IRS penalty. I know I would, given that Obamao would try to do it by EO if Congress doesn’t comply.
Yes you have Cletus, we both knew that Health Care was never going away. The GOPe has wanted this all along. Look at Alan Simpson's behavior after he retired and revealed himself as the Progressive that he really is.
Most likely, cashing out will do no good. An announcement will be made that US dollars are being phased out. You will receive one North American Dinero for every 10 US dollars you turn in.
I believe you are correct, the article appears to be dated Nov 2011 - a full year ago.
I went to the website, right clicked, selected “View Page Source”, searched for a date, and the only date I found was Nov 2011.
“Playing by the rules is a suckers game.”
Exactly and the more people on our side that learn that and live it, the further we will get.
I yanked out my retirement I had ages ago. Put it into PMs and have them safely “put away”
What is a PM?
Another good place to convert your cash is into rental property if you can stand the “landlord” part.
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