Obama Introduces MyRA: The "No Risk, Guaranteed Return" Retirement Savings Bond

Zerohedge ^ | 01/28/2014 | Tyler Durden

[Jet Jaguar]

Ping.

[DesertRhino]

Investing in something with no risk. Wow, that’ll bring some solid yields.

[Ghost of SVR4]

That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings

Bush tried this, it was a "risky scheme, SCHEME!!!!!" The Democarats howled at the idea. I guess Obama's is better, it keeps the government in control of the funds, ya sucka's..

[Moonman62]

Will the yields be indexed to inflation?

[rlmorel]

And there are a lot of people who will buy this hook line and sinker.

Damned liberals. When it comes to money, they all believe in perpetual motion machines.

[redlegplanner]

Wait till they mandate that the private equity assets in the “rich peoples” IRAs and 401Ks be swapped for Obamabonds so its “fair” for everyone.

[Viennacon]

This sounds worse than Cash 4 Clunkers!

[Richard from IL]

I thought Congress passed tax laws. Silly me.

[GeronL]

it is, he will also probably want it mandated for all

Those who earn more will see their “contributions” shaved and put into accounts of the poor

[KarlInOhio]

You can already invest in series I savings bonds which defer income taxes up to 30 years and pay at least the inflation rate. And currently they pay a better rate than inflation rate based Treasury Bonds.

[RightGeek]

That’s what I was going to say. Hasn’t Obammy heard of Savings Bonds?

[TomGuy]

A guaranteed rate of return?

Such as what?

Current interest returns are as small as 0.01%. I happen to have an older annuity that is currently returning 4.75% — which is massive in the current low interest period. About 15 years ago, 8% was considered a low-moderate saving rate.

==

This bond sounds like more feel-good-ism that sounds good and looks good on paper, but in reality may not be.

[Lurkina.n.Learnin]

Will they let you put your Social Security here instead of the Ponzi scheme it’s in now?

[Rusty0604]

I think Obama is limiting investments to gov’t bonds.

[Graewoulf]

Myra, - - - Myra - - - . There is a Country song in there somewhere - - - .

[skinkinthegrass]

well..there it goes; all ira/401accounts, 0'B@$t@$d is going to destroy any
tax advantage of these accounts..the IRS (brownshirts) shall be given that duty.

[fhayek]

Lending money to the U.S. government. Maybe I am wrong, but it seems to me to be a huge red flag when a borrower browbeats a credit rating agency not to lower its rating on the borrower’s debt. But what do I know?

[Slyfox]

He gets billions of dollars printed so he has got lots of walking around money for his pals.

He screws around with our health insurance to make it more expensive for everyone.

Then he thinks he can make it all nice by passing out some worthless saving bonds.

What the hell is wrong with this picture?

[woofer2425]

When I was a Registered Investment Advisor....if I offered an investment that I claimed had no risk and a guaranteed return...I would have been in big trouble or could have some jail time.