Posted on 10/19/2016 11:32:02 AM PDT by AC Beach Patrol
While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.
(Excerpt) Read more at ibtimes.com ...
For Wall Street and the money shifters, it'll be QE ^ oo
She gets in they will be taking away peoples bank accounts at some point.
Bye bye, 401(k)s
Why are we even worrying about stuff like this? You don’t have the faith in God that Trump is going to be our next POTUS??? Shame on you...
and IRA’a and Keogh’s!
When they take away the gold and silver, I plan to toss in the lead.
A socialists dream obviously
My thunder has been spoiled! I was going to post: Bye Bye 401K.
“spoiled” should be “stolen”
too much coffee today...
He says that 401Ks don’t invest in alternative investments like hedge funds, real estate, etc. But what he doesn’t say is the reason they don’t is that they are not allowed to by regulations.
The politicians and money guys have been itching to take away more of people’s money this way for a long time. Does anyone believe that they won’t spend their money and it won’t be there when they need it?
http://www.nytimes.com/2008/10/22/business/worldbusiness/22argentina.html
It’s why I cashed out ALL of my 401K’s and everything else they can touch. I’m a firm believer in 50% of something is better than 100% of nothing.
And truth be told, I really didn’t take much of a hit. Last time, I yanked EVERYTHING out of the stock market. Everything. Call it dumb luck or call it the Lord watching out for me, but it was just before it came crashing down.
But I’ve not gone back in, nor will I.
You don’t think your 401k is managed by “Wall Street” already?
When they take away the gold and silver, I plan to toss in the lead.
We’ve inched a long ways in that direction already, but to be clear, once that happens, the government will have gone into full USSR mode. At that point I invoke the money quote from the Declaration of Independence.
The deficit is eighteen trillion dollars, and there are sixteen trillion dollars in retirement accounts with that governmental string attached to them. It must tempt Congress to the point of salivation. It’s much easier to just steal the money from citizens than do the actual work of cutting budgets!
The next financial crisis will be the catalyst for putting this into place. “Hey, Joe and Jane Citizen, the market is just soooo risky and you’re soooo stupid, so we’ll take over control of your retirement accounts and dole them back to you in amounts and time frames that we determine.”
"managed"? LOL
We're talking about it being taken away from you! Gone! No longer there! Not yours anymore! Balance in the account $0!
So what have you invested in?
Thanks
This proposal is very similar to W. Bush’s personal accounts proposal for a sliver of peoples’ Social Security contributions. Dems opposed it then, will oppose it now.
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