Long Position on Silver and Gold?

[rbeau30]

Here we go, starting to mess with retirement plans! http://www.msn.com/en-us/money/retir...Aimc?ocid=iehp

Snippet:

I wouldn't be surprized if in the near future they start eyeing 401Ks. That is a big chunk of money that could be very tempting to legislate borrowing from just like Social Security. They cannot legislate away my PMs that I wish I had. LOL

[sellersm]

I wouldn't be surprized if in the near future they start eyeing 401Ks. That is a big chunk of money that could be very tempting to legislate borrowing from just like Social Security. They cannot legislate away my PMs that I wish I had. LOL

Me neither. I think it's already on their radar...


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[Sawin]

Here we go, starting to mess with retirement plans! http://www.msn.com/en-us/money/retir...Aimc?ocid=iehp

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Definitely a hard decision there, but not doing anything just ensures retirees who are funded by the plans that are "in imminent danger of running out of money", will lose all of their income...

"The idea is reluctantly supported by some unions and retirement fund managers who see it as the only way to salvage pensions in plans that are in imminent danger of running out of money."

Are you implying they shouldn't be allowed to do anything to change the structure of these dying pension funds?

[sellersm]

Are you implying they shouldn't be allowed to do anything to change the structure of these dying pension funds?

Not necessarily... I don't believe in "the ends justify the means", but I know there aren't any easy solutions. I'm upset that this mess was allowed to happen in the 1st place. I see this as writing on the wall for what's coming to a retirement plan near you. It's another example of the selfish, greedy, sinful nature of man rearing its ugly head. There's no way this will end well, and that's their plan.

[roberth]

It appears that these pensions were planned on the idea that markets only go up, that employment is constant, that wages only go up...the planners were WAY off base and didn't account for reality.

401Ks are definitely on the radar, they've been going up with all the QE and FedGov wants it's share RIGHT NOW. Unfortunately I cannot find anything to support my position except history - what are one of the things totalitarians do, yes, seizure of assets held by the people.

Cui bono? Welfare rats and 'crats until FedGov stops loading those EBT cards and doing direct deposits.

If you work, if you're a producer, if you're a contributor to society, you're the target. From each according to his ability (that's YOU mister producer), to each according to his need (welfare rats and 'crats).

[rbeau30]

It appears that these pensions were planned on the idea that markets only go up, that employment is constant, that wages only go up...the planners were WAY off base and didn't account for reality.

401Ks are definitely on the radar, they've been going up with all the QE and FedGov wants it's share RIGHT NOW. Unfortunately I cannot find anything to support my position except history - what are one of the things totalitarians do, yes, seizure of assets held by the people.

Cui bono? Welfare rats and 'crats until FedGov stops loading those EBT cards and doing direct deposits.

If you work, if you're a producer, if you're a contributor to society, you're the target. From each according to his ability (that's YOU mister producer), to each according to his need (welfare rats and 'crats).

As soon as the first bill get introduced and get s some attention I'm pulling out of my 401K, penalty or not.

[Sawin]

Not necessarily... I don't believe in "the ends justify the means", but I know there aren't any easy solutions. I'm upset that this mess was allowed to happen in the 1st place. I see this as writing on the wall for what's coming to a retirement plan near you. It's another example of the selfish, greedy, sinful nature of man rearing its ugly head....

I agree with you there... The fact that it happened to begin with is just another symptom of the long-time-running ineptitude in our country and the fact that "you just can't find good help these days"... by and large, folks just don't read between the lines or put themselves in their clients/customers shoes anymore, so they're willfully negligent IMO.

[roberth]

As soon as the first bill get introduced and get s some attention I'm pulling out of my 401K, penalty or not.

Yup, if you cannot stand over it with your AR15 you do not own it.

Calling investments with Wall Street "yours" is the same thing as calling the Denver Broncos "your" team. It ain't your team and it ain't your money because someone else has actual possession of it.

[sellersm]

Yup, if you cannot stand over it with your AR15 you do not own it.

Calling investments with Wall Street "yours" is the same thing as calling the Denver Broncos "your" team. It ain't your team and it ain't your money because someone else has actual possession of it.

It's now that way with the $$ in your bank! We, the depositors, are now considered "unsecured creditors", thanks to the recent G20 summit! Gotta love it... Coffee cans & mattresses look better every day.

One article that explains:http://bilbo.economicoutlook.net/blog/?p=29645

Pertinent quote:

So ordinary depositors will become unsecured creditors (the largest group for a deposit-taking institution) under the new laws enacted in the G20 nations. The resolution process (that is, the bankruptcy procedure) would see deposits confiscated and turned into equity or liquidated to pay off secured debtors.

[roberth]

It's now that way with the $$ in your bank! We, the depositors, are now considered "unsecured creditors", thanks to the recent G20 summit! Gotta love it... Coffee cans & mattresses look better every day.

One article that explains:http://bilbo.economicoutlook.net/blog/?p=29645

Pertinent quote:

Yes! Then the bail-ins start, the government says to the bank, "you may confiscate deposits to make yourself whole" so the bank does it and you wake up with 25% less money than you had yesterday. In Cyprus everyone whose account held X+1 got the haircut, if your account held X-1 you were still whole.

One of the reasons this hasn't happened in these United States is because there are 400 million guns in the hands of 80-100 million people. Hitler, Stalin, and Mao were ahead in that game because the citizens of their countries didn't have the huge gun culture we have in this country.