Posted on 03/12/2015 12:01:39 PM PDT by tcrlaf
Having previously hinted that they might 'dip' into public pensions funds for some short-term cash to payback The IMF, and then confirming that the plan is to repo that cash from pension cash reserves (raising concerns about how they will unwind the repo - i.e. pay it back); the Greek government finally signed the bill today that enables them to plunder the Greek people's pension funds (for their own good).
The massive irony of this bill is the bill enables greek deposits to be fully invested in Greek sovereign bonds... which Tsipras and Varoufakis both admitted today is "unsustainable" and "will never be repaid."
(Excerpt) Read more at zerohedge.com ...
I could certainly see President Warren implementing that via Executive Order.
The BIG POT OF MONEY in the US is 401k’s.
Expect them to be RAIDED once people realize that there is NO WAY that we can pay back our debt, or even pay it down a bit.
What makes you think that they won’t crash financial system? One has to destroy a system if one wants to create a new system, targeting a redistribution of wealth. That is exactly what has been done in every Totalitarian system, and could be done by the current regime overnight. Just sayin’-pray that it doesn’t happen..
since I have no defined pension and what I save is what I have, taking any of my retirement money would be devastating....but what to do....they’ll tax you if you pull it all out and then what do you do with it....
Coming soon to America.
Have been proclaiming it here for some time now.
They want to register as many Mexican squatters as possible (round up style). If they can.
Should be interesting to see the roping in plans, and what carrot snares they hold out for them to sign-up and stamp with a soc security Work Camp number.
IF THE GREEKS DON’T VIOLENTLY RIOT......THIS WILL SPREAD LIKE GREEK YOUGURT HERE IN THE USA.
The Banks are testing these ideas in Greece and Europe....If they work there....
That’s right. Cash out (including the inflated stock prices), to a 30K priced 3K vehicle, or a 500K priced 25K house, plus an add on “tax” plus a body mortgage-care “tax”.
Yes, good post, the Judas banks and their equity/negative bond holders staying undercover all the time of the asset raid.
I took all mine out and paid the tax on retirement. I knew one of 2 things would happen, and the annuity company proved it to me. The market would again crash on its 10 year cycle of crashes OR the government would find a way to get their hands on it(less likely). The annuity company, when doing their calculations came back with what I considered a very low number given that I can do future value calculations the same as they can. They had to have been factoring in that amount being reduced by quite a bit....such as cyclical market crashes as we’ve seen the last few decades.
I used it to pay off outstanding debt, invested in my own place, and am now totally clear, so that all I receive now is fully mine and accumulating far faster than that annuity amount they had suggested.
In the long run, and if a person were to have money for it, I’d recommend any additional money be put into property. Some like gold, but I’d only buy it when I was sure it was at its likely lowest point. It’s getting close again. It’s 1155 yesterday. I’m thinking $950 - 1000 will be the low. Caution will not allow it to go south of there.
Same here. I'd pay a 50% penalty, because I know that I would be getting less than 50 cents on the dollar back after our inept government starts administering it, and making income adjusted annunites.
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