Posted on 02/02/2013 7:29:39 PM PST by Perdogg
Via Michael Krieger of Liberty Blitzkrieg blog,
[ZH: We have discussed this threat over the past several years (must read).] The obvious concept is that when the government runs out of money, or they face a drying up in interest for its debt, they will come for the $19.4 trillion in American’s retirement accounts. It seems that day may be finally drawing near.
I stopped contributing to my 401k back when I worked at Bernstein, and I will probably now have to give more serious consideration whether I want to take the penalty and move the funds out of my retirement account entirely. I haven’t made any decisions, but will be watching closely.
I’m sure the government is just trying to protect your retirement account from terrorists.
From Bloomberg:
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.
The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.
The Securities and Exchange Commission and the Department of Labor are the main regulators of U.S. retirement savings vehicles and funds. However, the consumer bureau — established by the 2010 Dodd-Frank Act — sees itself as a potential catalyst for promoting a coherent policy across the government, the people said.
Why pay the premium? It assumes there'll be someone around later on with the capital and the interest to repay the premium you paid. Bullion coins would be better -- "junk" silver for small considerations, and a range of bullion-coin weights from small to large.
British sovereigns struck by Good Queen Vickie and her heirs don't have numismatic premiums attached and trade at the same sort of spread as K-rand and Maple Leaves; they're a little larger than a U.S. half-eagle, and weigh a little more than a quarter-ounce bullion coin. Without parsing values closely, that'd be the range of coin sizes that would be most useful in future, assuming somebody cancelled the future.
</gloom and doom>
Guns, ammo, lead.
If you were starving,which would you rather have in your hand-a gold coin or a couple cans of roast beef?If things go all to hell,gold will be worthless.Only those things that will help sustain life will be valuable.
They’re concerned that you might spend or move it before they can get their filthy socialist hands on it.
What all this boils down to is this: Unless you can hold it in your hand, you don’t own it. That goes for money, gold, silver, whatever you have “paper” on. If you have a certificate saying you own X amount of silver, it is worth exactly what the paper is worth. To get the full value of the silver you have to go to court to get a judgement. I don’t know about you but if the economy collapses I think the rest of civilization will be on shaky legs too, especially the courts. Hell, they’re already bought and paid for by the banks. The only possible exception is land. If you have a deed and you’re living on the land, you’ll get to stay there until someone comes along and runs you off. At that point you have the option of contesting their action... but you’d better have a good gun.
And don’t tell me it can’t happen here. The Germans said the same thing, as did the Ukranians, as did the Turkish Armenians, as did the Hutus, as did the... It CAN happen here.
As for the wine: It’s decent stuff - not fifty dollars a bottle, but decent. Even if it turns bad, someone will drink it. I remember some of the crap we made in college that was so bad we had to hold our noses to get it past our lips. But we drank it and other people will be just as bad off when TSHTF as we were then.
Are you kidding me?
They’ve had the law already written since before 2008. They’ve been sitting on it for just the right time. At one point it even had a bill number until folks got wind of the scheme. Doesn’t mean it has gone away just because it has been scrubbed...
“If they really want CW-II, they can try that.”
We are not yet positioned in our states to wage a civil war.
* We have yet to control most of the State leglsators with Constitutionalist.
* we have yet to Purge Most of the State militia of Washington’s imperial soldures.
* We have yet to down size and render impudent the Federal army & navy.
* We have yet educate, polarize, & patriotize our State populations.
All theses things take time, political will, and painstaking attention to detail. It will be at least 10 years before they are done we can do them at all. Only then will we be even capable of fighting for our rights in the way our forefathers did.
“If they really want CW-II, they can try that.”
We are not yet positioned in our states to wage a civil war.
* We have yet to control most of the State leglsators with Constitutionalist.
* we have yet to Purge Most of the State militia of Washington’s imperial soldures.
* We have yet to down size and render impudent the Federal army, air-force, & navy.
* We have yet educate, polarize, & patriotize our State populations.
All theses things take time, political will, and painstaking attention to detail. It will be at least 10 years before they are done we can do them at all. Only then will we be even capable of fighting for our rights in the way our forefathers did.
Land, hard assets, survival knowledge if you don’t have any...
“Not able”? They sure as hell are able. All they have to do is pass a law. These idiots are capable of anything.
It would mean CW2.
I guess the big difference being the victim of governmental scams tend to be the Tax payers. Whereas all other scams victims tend to be the individuals who fell for the scam.
In short there is nothing you can do to avoid falling victim to a government scam but there is plenty you can do to avoid falling victim to a private scam.
“It would mean CW2.”
Once again we are not yet positioned in our States to wage a civil war even if we had to.
There are at least 4 major changes that have to be made:
* We have yet to control most of the State legislators with Constitutionalist.
* We have yet to purge our State militia’s(national guard) of Washington’s Officer drones.
* We have yet to down size and render impudent the Federal army, air-force, & navy.
* We have yet educate, polarize, & patriotize our State populations.
All theses things take time, political will, and painstaking attention to detail. It will be at least 10 years before they are done we can do them at all. Only then will we be even capable of fighting for our rights in the way our forefathers did.
Yeah, I see how good the government is at managing money. < /sarc>
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Let us not forget that Skeeter & Co. are also planning to limit when and how much of your money and/or assets in your 401K and IRA can be taken out by you -
- Skeeter wants to be able to freeze your moneyand/or assets at any time they desire “to protect the economy” and then require that you get permission from them to withdraw any money and/or assets from them -
- Another sneaky stealth scam is that they will require you to pay a 1% penalty on any money and/or assets that they do allow you to withdraw -
- !% fee on your mandatory distributions -
- Penalized if you do not take your minimimum mandatory distributions -
- Penalized if you do take your minimimum mandatory distributions -
- Skeeter has you by the
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My problem with a barrel of good whiskey is that I would make a special effort to see that it didn’t go bad:)
But the threat of that happening is not imminent. Seems rather silly to me to take huge tax losses. If society breaks down, no asset class is safe..
It’s our money, your life and your choice. Good luck.
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