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alstry (34.88)

When Will The Government Be FORCED To Confiscate IRAs/401Ks?

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June 13, 2011 – Comments (9)

Most of you Fools are not attorneys.  And most attorneys have little training in the law of money.

What many are not prepared for is that the DEBT of our Government incurred by our elected officials is the JOINT and SEVERAL liability of the citizens.

And right now the Federal Government is draining the pensions of Federal Workers to keep government operating. 

http://www.newser.com/story/118667/facing-debt-limit-treasury-secretary-timothy-geithner-taps-federal-pensions.html

This money runs out in about a month....guess what's next?  You guessed it....private pensions, IRAs, and 401Ks....

Alstry warned you about this a few years ago....as you kept watching the ticker.....but relax, it is not the end of the world, simply the end of a world as you knew it.....and the beginning of an Udder World.

9 Comments – Post Your Own

#1) On June 13, 2011 at 5:21 PM, L0RDZ (84.12) wrote:

AL have you ever heard of  vast billions  in slush funds kept separately and   hidden away from most persons knowledge ?

Warned and done nothing, your like  that  Regent in the Return of the KING  lords of the ring movie.  I  take that back your like the Steward  of  GONDOR : John Noble as Denethor: Steward of Gondor and father to Faramir, as well as the slain Boromir. Due to grief over Boromir's death, and despair over Mordor's superior numbers, he falls into madness during the Siege of Gondor.

 

I believe he lights himself on fire and runs off a cliff :)

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#2) On June 13, 2011 at 5:26 PM, alstry (34.88) wrote:

Those slush funds are in your IRA, 401K, and Savings/Investment Accounts.  Havn't you ever heard of OPM? 

Other People's Money.....

That is exactly what your elected officials have been spending...and why your investments have done so well...

and now its time to pay up......as you always have to pay in the end.

Did you really think we could borrow our way to prosperity without someone paying?

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#3) On June 13, 2011 at 5:38 PM, chk999 (99.98) wrote:

Given that the US debt is denominated in dollars, and we can print them at will, we can always pay it. If we do so, the value of the dollar will fall, but that is a different issue.

Can you point to any statues (in the usual citation form) that say that the citizens are jointly and serverably liable for federal government debt? I've found nothing that points to any.

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#4) On June 13, 2011 at 6:05 PM, alstry (34.88) wrote:

If we can print them all we want.....

1.  Why are we taking them out of Federal Employees pension plans....

2.  Why are we not bailing out citizens......

3.  Why are we not bailing out private businesses.....

4.  Why are we not giving free health care and college education to everyone....

5.  Why Why Why......

Maybe because if we do.....essentially money becomes worthless.....and you don't need a statute to figure that one out....

and when our politicians elect to go to war.....so do we....and our kids get drafted.....and many get killed.....in this case, we are only taking your money

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#5) On June 13, 2011 at 6:16 PM, alstry (34.88) wrote:

I have been saying for years that the U.S. is in worse shape than Greece.....and only today Gross comes out and says it.....

please....and get ready to pay up as you were too busy staring at the ticker.....

http://www.cnbc.com/id/43378973

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#6) On June 14, 2011 at 2:01 AM, lquadland10 (< 20) wrote:

Ok first things first. 1. Bring back exc. order 11110. http://www.john-f-kennedy.net/executiveorder11110.htm

We will not back fannie and Freddie.

They fail. 

We will not back the banks. 

They fail. 

We will not back GM or GE. 

They fail. 

We will not fall for the to Big to Fail. 

New Money sitting on the side lines will come in and start New Banks. 

The markets will go wild accross the world. 

Let them. 

That will be the death throws of the New World Order. 

IMHO

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#7) On June 14, 2011 at 8:57 AM, TSIF (99.96) wrote:

#4....Were you sleeping during QE1, QE2, the bailouts of the banks, the bailout of the auto industry, Fannie, Freddie, etc.  We're printing money just as fast as we possibly can.

Why don't we give even more of it away?? Did you miss the part about inflation?? There also has to be some semblence of faith in our intent.  Overall, yes, we can print money.  We don't need to mess with private funds.  We're "borrowing" the pension funds to "play the game" that we have with the Feds and Congress.

If we print too much money, we drive inflation and we make our pension/401k plans so weak that we can't use them to retire...but rest assured the government doesn't need to take them.

Nice headline though.  You do an amazing job of getting click throughs after all these years of the sky is falling.

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#8) On June 14, 2011 at 9:11 AM, FoolSolo (70.68) wrote:

No need to raid the funds directly, by simply printing more money it effectively does the same thing. The oddly funny thing is much of Europe seems to be doing as we do, rather than what we tell them to do, so that leaves just Brazil, Russia, India and China... who will become the next economic super powers, and then in about 50-100 years they will falter and move all their manufacturing back to the USA, and round and round we go.

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#9) On June 14, 2011 at 4:29 PM, L0RDZ (84.12) wrote:

AL  i've only known  about  OPP  :-)

Ya you know me... who's down with OPP  :)

All the ladies ;)

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