Lock and Load
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Go ahead. Make my day.
There will be blood spilled if this happens. Democrats are insane to think this will fly.
Everyone’s 401(k) and IRA do not have any CASH in them.
To get any money at all, the SHARES will have to be sold on the OPEN MARKET to be liquidated.
If the government is THAT STUPID, we’re DOOMED.................
Tada! Suckers. The government workers and employees will loot your arses of $$ if they do not get the pay Zero promised them. Right now treasuries which cannot be paid back are the only thing keeping their salaries and some spending in this economy. After this, it’s IRA and gold and gun confiscation... suckers.
If it’s revolution we need, I can’t think of a better way to light the fuse on one than to try and seize people’s 401Ks an/or IRAs. I think that might just be the straw that breaks the camel’s back, because people realize those bonds aren’t fit to wipe one’s arse with and that money would be gone forever as soon as the Gubment gets their mitts on it.
As soon as that plan was announced, that 7 Trillion would evaporate overnight as people pull their money out before it is gone, and damn the penalty. Imagine the effect on the Markets if Premier Hussein triggers a panic run on retirement accounts, and people remove even a relatively small fraction of $7 Trillion from circulation and buy gold with it or just stuff the cash in a mattress.
Besides, can you imagine this crew getting their hands on that much liquid cash??!!
This scheme is a one-way ticket to a 4000 (or lower) Dow Jones Industrial Average, and is indeed one very good way to start us on a quick slide down the drain without even a courtesy lap around the bowl first.
Lock and Load
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The window has pretty much shut on 0 being able to do this. While he had huge majorities in congress....maybe. But after Nov. 2 it won’t be possible unless he makes a move to ram it through the lame duck congress. I don’t see that happening because the groundwork, the massive propaganda camkpaign to justify it, hasn’t been done yet.
How many different ways can these bastards steal from us, before they are removed from the equation?
Like many, I just want to be left alone.
I suppose that the government could just write IOUs to the companies and tell them that they're the new owner, but again, it would destroy the stock market, and the economy along with it. But then, I guess that's the idea here. Make the USA a "workers paradise" like Cambodia or Cuba.
I guess I'm just not educated enough to ignore the probable consequences of these idiotic actions.
Mark
They better hurry up. If they remain in power there will be nothing left to grab.
It would be a bloodbath.
One thing I learned years ago: Do not mess with people’s money.
They will stand still for every manner of insult, but mess with their overtime, their pay, their money in any way, and you have a revolt.
Now, I'm not so sure.
I *do* think that if this comes to pass, that there will be a long line of pols hanging from lampposts.
Also, the balance of said annuity will not be allowed to be willed to your dependents.
You will save all your life, die, and the only beneficiary will be the USG and some crack smoking baby mill whore popping out government dependents for 20 years.
If this happens, there will be blood for sure.
I keep hoping that this is another “slight of hand” that this government is very good at but I have my doubts as they are trapped and trapped Rats react in a nasty manner.
This a move right out of Castro’s and Chavez’s playbook! Do they understand that people WILL be angry, frustrated, scared and stupid enough do do violent acts. People WILL DIE if they try this?
...being necessary for the security of a FREE STATE, the right of the people to keep and bear arms SHALL NOT BE INFRINGED...
They touch my IRA and it's time to invoke the second amendment for its intended purpose.
Maybe this is their October surprise - the civil unrest from such a move would give them cause to cancel the November elections. I think that their ability to legislate in such a situation would be severely compromised.
If you can, put your money in an offshore-bank, and I don’t mean the Swiss. Rather a bank like French Credit Lyonnais or Bank of China in Hong Kong (not China) ie) banks who aren’t afraid to tell the IRS and Treasury to screw themselves.
In reality, this type of action would be so stupid and could very well unleash a chain reaction that could not be stopped. Any whiff of this type of legislation having a serious chance of passing would cause a run on individual pensions and IRAs and cause a market crash that would make 2008 look like a small downturn.
In the end, with a major drop in the aggregate market’s value, there will be substantially less money for the government to steal.
This type of action would also trigger mass civil disobedience with sky-rocketing tax evasion, capital flight, hoarding of commodities and probable currency collapse. The government would have a difficult time functioning with so much lost revenue.
Et apres, le deluge!
There is NO way this will ever be accepted by the American people! It won’t happen.
I see don’t bother you with facts, you have your feelings and you are clinging to them.
If they do that it will be blood in the streets.