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Posted: 1/28/2014 10:23:54 AM EDT
[Last Edit: 1/28/2014 10:28:59 AM EDT by PikeSlayer]
FBHO

Financial planners, what's your take? My take, the beginning of the end.
Link Posted: 1/28/2014 10:24:43 AM EDT
How long before they "reclaim" the funds in my 401(k)?
Link Posted: 1/28/2014 10:25:27 AM EDT
Awesome. So not only do we not trust people with their own social security investment (Ala GWB) but now we want people to invest solely in .Gov? Really? Lets review how well they've managed the economy... And passed budgets... And oh right...
Link Posted: 1/28/2014 10:25:30 AM EDT
Social Security part 2?
Link Posted: 1/28/2014 10:26:16 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Undefined:
How long before they "reclaim" the funds in my 401(k)?
View Quote


Only a matter of time, my friend. It's or the good of the people, you know.
Link Posted: 1/28/2014 10:26:42 AM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By irishtech:


Social Security part 2?
View Quote




 
Link Posted: 1/28/2014 10:26:47 AM EDT
How long before they are made mandatory for members of the evil 'producing class'?
Link Posted: 1/28/2014 10:27:04 AM EDT
In his defense guys, we can't just keep printing more money
Link Posted: 1/28/2014 10:27:44 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PikeSlayer:


Only a matter of time, my friend. It's or the good of the people, you know.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PikeSlayer:
Originally Posted By Undefined:
How long before they "reclaim" the funds in my 401(k)?


Only a matter of time, my friend. It's or the good of the people, you know.



Yep, it's for the children.

Link Posted: 1/28/2014 10:28:02 AM EDT
[Last Edit: 1/28/2014 10:28:10 AM EDT by AKengineer]
My passport is current. Thank God.

 
Link Posted: 1/28/2014 10:28:28 AM EDT
Ultimate goal of the kleptocracy is seizure of pensions and 401(k)'s.  This is a step in that direction.  The libtards floated the idea of seizing 401(k)'s right after the 2008 meltdown.
Link Posted: 1/28/2014 10:28:44 AM EDT
Wait a minute.   Isn't that like investing in stock of a company you KNOW is heading down the tubes
Link Posted: 1/28/2014 10:28:50 AM EDT
Feds buying fewer bonds...someone has to prop this shitheap up.
Link Posted: 1/28/2014 10:30:11 AM EDT
The trouble is that with Quantitative Easing, no one is buying US Treasuries except the Federal Reserve.  The Chinese slowed down their buying and then sold more than they bought.  I don't think they're buying any at all now and have been divesting themselves of dollar designated assets for tangibles (mineral rights, mines, farms, land, buildings) in their exit of the dollar.  The US government wants to get more buyers and read that federal employees have had their 401Ks diverted to treasury bonds without their consent.  

In short, it's the sh*tz and when the world dumps the petro-dollar, you don't want to be left holding the bag.  Get your 3 B's in order.
Link Posted: 1/28/2014 10:30:39 AM EDT
One of the comments from ZH:

"If you like your retirement account, you can keep your retirement account.  With us."
Link Posted: 1/28/2014 10:30:54 AM EDT
It's one of the safest guaranteed ways to lose money.  The interest rates being paid on T-bonds right now is nowhere near the inflation rate.



http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield
Link Posted: 1/28/2014 10:33:18 AM EDT
Meh- THIS amounts to nothing though I agree that eventually the scheme will be force US savers in the junk T-Bonds that will shortly thereafter be defaulted upon.

The OP's source seems worried that this signals the coming end of QE- IMO QE won't end.  Japan started it 12 years ago...
Link Posted: 1/28/2014 10:34:20 AM EDT
Fbho! Thank bonds are a fucking nightmare to begin with. Wouldn't this mean you not only invest in something that's not going to give you interest, but you wouldn't be able to access in an emergency?

All this is going to be is a back door effort to nationalized 401ks.
Link Posted: 1/28/2014 10:37:16 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By OiRogers:
How long before they are made mandatory for members of the evil 'producing class'?
View Quote


Bingo.  Baby steps, baby steps.
Link Posted: 1/28/2014 10:38:19 AM EDT
[Last Edit: 1/28/2014 10:39:39 AM EDT by HenryReardon]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By rapracing:
Wait a minute.   Isn't that like investing in stock of a company you KNOW is heading down the tubes
View Quote

It isn't like that.  It is that.

Think of it as if you were a GM non-union employee in 2008, and your only 401(k) investment option was...GM stock.
Link Posted: 1/28/2014 10:38:41 AM EDT
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.
View Quote


Then educate the people, not control them!
Link Posted: 1/28/2014 10:38:48 AM EDT
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.


Yes, because so many baby boomers are getting scammed by their Fidelity, Waddell & Reed, or Wells Fargo account reps. It's almost everyday that I read about some American Funds guy making off with $800,000 of some old lady in Syracuse's money.
Link Posted: 1/28/2014 10:39:20 AM EDT
Wondered how they were gonna fund Ocare..

Kicking the can is an art form in D.C.
Link Posted: 1/28/2014 10:39:20 AM EDT
It's like the people who worked for Enron, whose livelihoods depended on Enron remaining solvent and in business, investing all of their retirement money in..... Enron.
Link Posted: 1/28/2014 10:41:24 AM EDT
This is a BAD sign..
Link Posted: 1/28/2014 10:41:32 AM EDT
While forced loans to governments have a long history, I wouldn't worry too much.

Many people who are wealthy, important and powerful make a lot of money managing the assets in retirement funds.
If the government were to try and cut off their access to that income, or even reduce that access, they would be unhappy.

Politicians do not risk making wealthy, important and powerful people unhappy.
Link Posted: 1/28/2014 10:41:47 AM EDT
Who DIDN'T see this coming?

Show of hands please.

Yeah, I thought so...fucking bastards.



Nick
Link Posted: 1/28/2014 10:42:20 AM EDT
Another thing just occurred to me. What happens if the GOV determines you owe them a bunch of money in back taxes, some violation of some law, or something? Oh, no more account for you.
Link Posted: 1/28/2014 10:43:07 AM EDT


Next step: MANDATORY buying of T-bonds.



And if you don't buy them - they will TAKE your traditional holdings in IRAs, 401(k)'s and pensions and give you T-bonds in their place.



Just like mandatory health insurance was sold on the idea that "everyone is gonna need health care at some point" - this one will be sold on the idea that "everyone is gonna need retirement/savings at some point".





ALL wealth belongs to the gov't.
       
 
Link Posted: 1/28/2014 10:43:26 AM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By jchewie1:


One of the comments from ZH:



"If you like your retirement account, you can keep your retirement account.  With us."
View Quote


Exactly.



 
Link Posted: 1/28/2014 10:45:30 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By POLYTHENEPAM:
While forced loans to governments have a long history, I wouldn't worry too much.

Many people who are wealthy, important and powerful make a lot of money managing the assets in retirement funds.
If the government were to try and cut off their access to that income, or even reduce that access, they would be unhappy.

Politicians do not risk making wealthy, important and powerful people unhappy.
View Quote



LOL, like insurance CEOs??

The managers will be "assured"  a guaranteed income stream , just like the insurance fucktards who champion Husseincare.

They will be all for it
Link Posted: 1/28/2014 10:46:08 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By POLYTHENEPAM:
While forced loans to governments have a long history, I wouldn't worry too much.

Many people who are wealthy, important and powerful make a lot of money managing the assets in retirement funds.
If the government were to try and cut off their access to that income, or even reduce that access, they would be unhappy.

Politicians do not risk making wealthy, important and powerful people unhappy.
View Quote

Not forever.  Study what happened in Nazi Germany.  At first, the Nazis worked with the large industrialists.  Once they grew powerful enough that they didn't need the captains of industry, they discarded them, too.

Much like the health insurance industry was hoodwinked and co-opted to pass Obamacare, the financial services industry will be taken in with promises of continued fees.  Anyone who gets in bed with a tyrant deserves to get screwed.
Link Posted: 1/28/2014 10:47:05 AM EDT
[Last Edit: 1/28/2014 10:47:25 AM EDT by HenryReardon]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By The_Macallan:

Next step: MANDATORY buying of T-bonds.

And if you don't buy them - they will TAKE your traditional holdings in IRAs, 401(k)'s and pensions and give you T-bonds in their place.

Just like mandatory health insurance was sold on the idea that "everyone is gonna need health care at some point" - this one will be sold on the idea that "everyone is gonna need retirement/savings at some point".


ALL wealth belongs to the gov't.
View Quote

Bingo.
Link Posted: 1/28/2014 10:47:49 AM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PikeSlayer:


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.





Yes, because so many baby boomers are getting scammed by their Fidelity, Waddell & Reed, or Wells Fargo account reps. It's almost everyday that I read about some American Funds guy making off with $800,000 of some old lady in Syracuse's money.
View Quote




 
I know.  
Link Posted: 1/28/2014 10:49:17 AM EDT
Oh my God!  People buying Treasury Bonds!  The horror!

Link Posted: 1/28/2014 10:49:29 AM EDT
What will be printed on it? No faith and bad credit?
Link Posted: 1/28/2014 10:49:44 AM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PikeSlayer:


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.





Yes, because so many baby boomers are getting scammed by their Fidelity, Waddell & Reed, or Wells Fargo account reps. It's almost everyday that I read about some American Funds guy making off with $800,000 of some old lady in Syracuse's money.
View Quote


For some reason, I don't believe that is their actual goal.



 
Link Posted: 1/28/2014 10:50:06 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By HenryReardon:

Not forever.  Study what happened in Nazi Germany.  At first, the Nazis worked with the large industrialists.  Once they grew powerful enough that they didn't need the captains of industry, they discarded them, too.

Much like the health insurance industry was hoodwinked and co-opted to pass Obamacare, the financial services industry will be taken in with promises of continued fees.  Anyone who gets in bed with a tyrant deserves to get screwed.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By HenryReardon:
Originally Posted By POLYTHENEPAM:
While forced loans to governments have a long history, I wouldn't worry too much.

Many people who are wealthy, important and powerful make a lot of money managing the assets in retirement funds.
If the government were to try and cut off their access to that income, or even reduce that access, they would be unhappy.

Politicians do not risk making wealthy, important and powerful people unhappy.

Not forever.  Study what happened in Nazi Germany.  At first, the Nazis worked with the large industrialists.  Once they grew powerful enough that they didn't need the captains of industry, they discarded them, too.

Much like the health insurance industry was hoodwinked and co-opted to pass Obamacare, the financial services industry will be taken in with promises of continued fees.  Anyone who gets in bed with a tyrant deserves to get screwed.



The big wigs at the insurance companies are NOT , repeat NOT going to get screwed.

Oh the company they work for may well go out of business, the workers will get the shaft , but rest assured, the crony capitalists will be just fine.
Link Posted: 1/28/2014 10:50:26 AM EDT
[Last Edit: 1/28/2014 10:50:49 AM EDT by sq40]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By The_Macallan:

Next step: MANDATORY buying of T-bonds.

And if you don't buy them - they will TAKE your traditional holdings in IRAs, 401(k)'s and pensions and give you T-bonds in their place.

Just like mandatory health insurance was sold on the idea that "everyone is gonna need health care at some point" - this one will be sold on the idea that "everyone is gonna need retirement/savings at some point".


ALL wealth belongs to the gov't.




         
View Quote


Technically you belong to them too..If you are born here, you are a citizen and they "own" you to some extent..  Kinda counter to that "free person" thing.. but you really aren't.
Link Posted: 1/28/2014 10:51:13 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By The_Macallan:

Next step: MANDATORY buying of T-bonds.

And if you don't buy them - they will TAKE your traditional holdings in IRAs, 401(k)'s and pensions and give you T-bonds in their place.

Just like mandatory health insurance was sold on the idea that "everyone is gonna need health care at some point" - this one will be sold on the idea that "everyone is gonna need retirement/savings at some point".


ALL wealth belongs to the gov't.
View Quote

Poverty for everyone (except politicians)!!  Forward comrades!!!
Link Posted: 1/28/2014 10:52:57 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By irishtech:
Social Security part 2?
View Quote


Soon to be the only retirement investment allowed.

.gov IRA's when you want the best!
Link Posted: 1/28/2014 10:53:34 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By TacticalHeater:
In his defense guys, we can't just keep printing more money
View Quote

In your defense, you're a liberal troll. OOPS, you probably should get a different lawyer.
Link Posted: 1/28/2014 10:53:50 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Lomshek:


Soon to be the only retirement investment allowed.

.gov IRA's when you want the best!
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Lomshek:
Originally Posted By irishtech:
Social Security part 2?


Soon to be the only retirement investment allowed.

.gov IRA's when you want the best!


We aren't too far away from cash going the way of the dodo.  Most people under 30 would be all for it too.
Link Posted: 1/28/2014 10:55:32 AM EDT
BHO will simply issue an executive order, like the worthless tin horn dictator wannabe he is.  The Constitution means nothing to him, like raising the minimum wage.  He does not have the power to spend money, only Congress, but why let a piece of paper get in the way.
Link Posted: 1/28/2014 10:56:54 AM EDT
[Last Edit: 1/28/2014 10:59:41 AM EDT by WildApple]
If Obama had a Ponzi Scheme
 
Link Posted: 1/28/2014 10:57:14 AM EDT
well. do we sell out and get our money from our investments or ??????????

answers here. enough questions and hypotheticals. what do we do???????  
Link Posted: 1/28/2014 11:00:36 AM EDT
I never heard about the Poland funds confiscation that occurred.
Link Posted: 1/28/2014 11:00:48 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By iwouldntknow:

In your defense, you're a liberal troll. OOPS, you probably should get a different lawyer.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By iwouldntknow:
Originally Posted By TacticalHeater:
In his defense guys, we can't just keep printing more money

In your defense, you're a liberal troll. OOPS, you probably should get a different lawyer.



I was wondering the same thing.

Hey, I have a novel idea.


How about we only spend what we take in, just like my house.

If you don't have the money, you leave the item in the store.

And, I guess if you don't want to work, I guess you starve to death.
Link Posted: 1/28/2014 11:02:05 AM EDT
I love this.  

They are going to offer companies huge incentives to to offer this to employees.    They are going to do everything they can to further the ponzi scheme.  When it all comes crashing down oh hey, just like SS, Medicare, etc, etc, everyone is on the hook for the stupid decisions made by crooks.
Link Posted: 1/28/2014 11:04:08 AM EDT
Invest in lead and steel

/end thread

Link Posted: 1/28/2014 11:04:42 AM EDT
Is it really that hard to see that something is wrong, or immoral... and just not do it?
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