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Posted on 07/08/2011 7:05:54 AM PDT by george76
the Treasury has plundered about $206 billion from the two primary retirement accounts: the G-Fund and the Civil Service Retirement and Disability Fund...
there is about $62 billion in available debt ceiling stretching options. In other words, Tim Geithner has burned through 75% of his dry powder just 50 days into the debt ceiling breach. What happens in the next few days ...Treasury would need to use about $37 billion of that $62 billion in July, and would exhaust the rest with the settlement of auctions on August 1.
(Excerpt) Read more at zerohedge.com ...
IOUs are not cash.
ht comments
So, they’ve run out of other people’s money. Now what? Fat cat Federal retirees going to swarm DC? The flights from FL and the nice suburbs of VA will be extremely full!
As Lady Thatcher so accurately said, “The problem with liberalism is that sooner or later you run out of other peoples’ money.”..................
Get ready
After they have plundered the government employees retirement funds, they’ll come after the 401ks, IRAs and Keoghs............
Nice video. Someone better wake up soon! We are teetering on ground they’ve never planned for. Or maybe they have...
FDR sent in federal agents to check safe deposit boxes at banks for gold.
No telling how much loot FDR found.
Plus the Argentina government raid on personal accounts
Play ball with these goobers and they'll shove the bat up your arse.
The Great Beast is insatiable.
sensibly speaking, these funds being “borrowed” to fund the govt are the contributory retirement accounts of many many lower grade govt workers
we are watching a repeat of the looting of the so-called social security trust fund (lockbox) only in fast forward
when they run out of money from our 401Ks, they will come after yours
I am confused. The Thrift Savings Plan is a non governmental agency. The money in thrift is about 66 percent employee funded and about 34 percent government matching funds. Once the money is in the Thrift Savings Plan it is the plan holders money to invest as he sees fit.
Please elucidate on this topic.
I can't make heads or tails of it.
Most of these comments are horse malarky, written by people who know nothing of the federal employees’ retirement system. Take it from me, a retired fed: federal retiree funds are safe.
Thanks.
The way I interpet this is that Thrift can no longer invest any new monies in the G Fund due to the fact that the Treasury has no G Fund securites to sell due to the debt ceiling.
I think I have this right?
HAHAHAHAHAHAHAHAHA.....HOHOHOHOHOHOHOHOHOHOHOHOHOHO.....
HAHAHAHAHAHAHAHAHAHAAHA.....stop it....you're killing me!
The only thing anyone needs to know about the Federal system is that it's Federal. They can yank it from you any damn time they want to and you won't be able to do jack sh** about it.
L
You forget, Lurker, that unlike state governments, the federal government can simply print more money if necessary to meet its pension obligations.
You have no idea just how badly I hope they do exactly that to people like you. None whatsoever.
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