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WARNING.......must read....401k's ...IRA...Gold...Silver

 
Shaodw
User ID: 130476
Canada
08/13/2006 11:27 AM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
From your (glp) link...

>Silver is being moved on to the exchange that belongs to someone else just to boost total inventory. The amount that is available for trading continues to shrink.<

Wow.
paladin  (OP)

User ID: 130483
United States
08/13/2006 11:35 AM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
this is a good read..

paladin

(snip)
Volatility and Value

So far, this spring and summer has been volatile for stock markets globally. Hong Kong was down 10%, Germany down 9% and Singapore down 18% in May and June. The Indian stock market lost 10% in one single day. Commodities, precious metals and mining stocks had large sell offs and swings. The US stock market had four days with over 200 point swings in the Dow (compared to only five such days the previous five months). The major cause of this global volatility was that the Bank of Japan had lent out hundreds of billions of dollars to domestic banks and this money was lent to large international hedge funds over a two year period. The Bank of Japan then abruptly called in these loans. Don Coxe, the extraordinary and brilliant strategist at the Bank of Montreal, called this "unprecedented in the history of modern central banking." A global liquidation took place as these funds were forced to sell everything in sight to raise cash. The few hundred billion was significantly leveraged so somewhere between $750 billion and $1.5 trillion of global financial assets had to be liquidated in a very short time period….gold and gold shares were part of this liquidation.



[link to cometgold.com]
Lester
User ID: 129981
United States
08/13/2006 11:40 AM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
Paladin,

You've missed the point: IF you are one who responds to the carrot, by all means, get yer 401k, Roth-IRA, and all the other tax-deferral deals you can find.

IF you are concerned with return on your Principal rather than return of your Principal.

Templeton? You feel good about Templeton Funds??? You are Exactly the mid-level guy I was writing about.


To the young dweeb with no reference point: Before the ERTA (Economic Recovery Tax Act) of 1981, the most signiificant income tax reform in American history; marginal tax rates were 70% on lower incomes. If you can't do the math, about double what they are today.

That Is The Point!

Are you willing to GAMBLE with your money?

You gamble that:
1) You will get your Principal returned to you,
2) Taxes will be the same when you receive control of your 401 monies,
3) Your investment choices and your decisionmaking, timing, entry/exits are better in your 401 than with net after-tax funds.

Maybe your employer pays all fees of the plan? Do they also pay all mgmt fees inside the Funds?

Do your funds have ancillary funds tacked onto them because employer has chosen to have the staff pay the way for the 401?
======================================


If you are one who packs a Bug-Out bag, are you reconciled to abandoning your 401 monies?

Maybe you think in the looming currency crisis Economic Debacle that you will stay one step ahead, move to Treasury Bills and preserve your capital?

Maybe you think owning shares in a goldmining co. is a sure thing?


The only "sure thing" is what you can hold in your hand, transport, or watchover with a gun.

Banks, brokerages and all non-public sector businesses are "non-essential". In a Martial Law or Emergency scenario, they will not be open to serve those who have money at stake. Now the rest of the world markets will be open. The "operators" will getcha from there.

But, hey!
At least it's not After-tax dollars you'll be losing in your 401k account. That'll cushion the blow.


Seems like I recall some Keogh Plans that would allow holding gold coins. If you were the managing partner or principal that was Fiduciary, then you could "hold" your own coins. That would at least make some sense.

If you are caught holding the bag when the baloon goes up, I just hope your bag has something valuable in it. Something more than a statement showing what you had.

Better to have than to have had, when it comes to wealth.
Anonymous Coward
User ID: 130476
Canada
08/13/2006 11:53 AM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
somewhere between $750 billion and $1.5 trillion of global financial assets had to be liquidated in a very short time period….gold and gold shares were part of this liquidation.
 Quoting: paladin


This got me curious about hedge funds.

snip
>So an increasing amount of ordinary people's money is available for use at the global gambling table. But how much could be at risk? We just don't know - and that means there is scope for any number of nasty surprises.<

[link to www.newstatesman.com]

People better freakin wake up to what the corporatocracy is doing.
paladin  (OP)

User ID: 130483
United States
08/13/2006 12:11 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
lester...

(snip)
Are you willing to GAMBLE with your money?.....

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

are all my eggs in one basket....no..

am I ready to bug out today and live in a cave.....NO..

do I have gold/silver in my hands.....YES.....

do I have a BUG out plan......YES

can I walk away from my 401K's.....YES

I have not missed the point......

paladin
paladin  (OP)

User ID: 130483
United States
08/13/2006 12:28 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
It look likes some here on GLP think I am not a GOLD/SILVER BUG..... lmao


[link to godlikeproductions.com]


I will play the game until the end..


Lester brings up a great point...

can you walk away from your 401K's today...
paladin  (OP)

User ID: 130483
United States
08/13/2006 12:50 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
hey all..

I found this....it is a great read..

paladin

(snip)
THE VALLEY OF THE SHADOW OF DEBT



By Carolyn Baker, Ph.D.

Never before have political leaders urged such large-scale indebtedness on American consumers to rally the economy.



[link to goldismoney.info]
Anonymous Coward
User ID: 130519
United States
08/13/2006 12:57 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
My take is when the walking starts, it will be at least a slow trot, and a dash if you're able. The thing will resolve to the running, not the looking back.
Shadow
User ID: 130476
Canada
08/13/2006 12:59 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
OMFG. That's just scary.

>A typical credit card purchase is 12-18% more than if cash was used (as of 2004)<



Property taxes in New Jersey:

[link to www.usatoday.com]

snip
>her property taxes have climbed 56% since 2000 to a knee-buckling $14,000 a year...<

stars

It's going to collapse and I can only think 'the sooner the better'.
Lester
User ID: 129981
United States
08/13/2006 01:10 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
Seems pretty ignorant to leave money on the table; by walking away from it.

Got a house in the innercity or suburbs; likely you will die there or walk away from it too.

Probably a good time to do a max-loan and buy PMs with whatever proceeds you can scrape together. You already borrowed against your plan didn't you?



Truthfully, I think the guys/gals who know so very well how to play the game now, will be caught flat-footed when the baloon goes up and the "rules" change. These are people who have studied the system which is/was artificially maintained. Few will know what to do without a "game" to direct them and "win" at.

In a slow falling apart, Physical metals and essentials will simply no longer be available. Some things will just no longer be for sale. The "Gamers" won't see that one coming. They are conditioned to think that they can get anything with enough dough.

If you worship money, it is your raison de etre, your all consuming drive and goal.

Like the "gurus" who always shill about "get out of debt first, then put aside some food and supplies". Like after a collapse, the debt collectors will be coming by to repo your CC purchases.


Interestingly, I seem to recall reading that an Executive Order was written up allowing Govt to seize Qualified Plan money in an "Emergency". Pretty much like they already do with Soc Sec funds. Oh, you'd get a bond or Govt IOU; but they take your money.

At the end, "the game" gets going so fast no players can keep up.

When that manipulated plunge comes with 5 mins to go in the trading session, nobody gets execution but the insider black-box traders. Gamers are scammed day-in/day-out, yet it is addicting to play the action.

Somebody will rewrite the lyrics to Goodtime Charlie's Got The Blues....
"Fooled around and lost his house, bank accounts, and wife;
Play too long, you'll lose your life.
Some gotta win, some gotta lose....."


Hope none of you stand to lose much.

You are playing a real high-wire game by continuing to be an employee in some city, but expecting to bug-out "in time".

Kinda like trying to decide at 3.55 if 40 points down suddenly starting at 3:50 can pyramide to 200 down in the last 5 minutes?

Maybe you have an hour to get clear of the outer-loop of your city before it gets shut-down tight? How will you know "this is it, the time is now!"

What a rush if you are right in your gamesmanship; you played right to the brink! Yet, after the big game is over, and your money is frozen forever; someday you will realize all your risk-taking was for nothing!

The Qualified Plan gives, the tax code taketh away. Will you collect benefits, or will your benefit plan lapse w/o value?

Given all the nuclear posturing and looming fiat money defaults, the case is very strong for opting out rather than participation.
Shadow
User ID: 130476
Canada
08/13/2006 01:15 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
Well said Lester. Greed is what's driving people, driving dot.com, driving housing and now, on a global scale driving the coming crude bubble. You'd think they would've looked more carefully into what drove Japan down mid 90s, or maybe they did and figured if it didn't work for anyone but the top percentile, it was a good game to play?

1dunno1
paladin  (OP)

User ID: 130483
United States
08/13/2006 01:20 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
LESTER..


are you saying to bug out now...


lester
(snip)
Maybe you have an hour to get clear of the outer-loop of your city before it gets shut-down tight? How will you know "this is it, the time is now!"


the time is now!"

the time is now!"


the time is now!"

the time is now!"

this is what you said....
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<


if it is time to bug out now......what are the signs...

how do you get your 401K's out with less tax to be payed.......just in case it is not time to bug out...
Anonymous Coward
User ID: 76936
United States
08/13/2006 01:22 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
Sorry to be dense, Lester, but what is a PM?


"Probably a good time to do a max-loan and buy PMs with whatever proceeds you can scrape together. You already borrowed against your plan didn't you?"
Shadow
User ID: 130476
Canada
08/13/2006 01:23 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
I think Lester was saying no body can know for sure until it's too late (staying in the game until it's too late). I 'bugged out' last October.
paladin  (OP)

User ID: 130483
United States
08/13/2006 01:50 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
I think Lester was saying no body can know for sure until it's too late (staying in the game until it's too late). I 'bugged out' last October.
 Quoting: Shadow 130476





hey....Shadow...

you bugged out already..

you max-loaned everything to buy precious metals (PM) gold/silver

from the post here at GLP on the gold threads is the game will play out untill 2010...2012..

I have read this on other gold sites as well..

maybe not.....if you look at the UK....over the last few years they have changed the laws to help the people to get out of debt.....here in the USA.....Bush went the other way


smile_kiss
Shadow
User ID: 130476
Canada
08/13/2006 01:54 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
Lol Paladin, didn't max loan anything. I sold the yuppyville house. bought a small farm with absolute self-sufficiency and 'pocketed' the difference.
Lester
User ID: 129981
United States
08/13/2006 02:44 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
A max loan is whatever the max your 401 (if it allows loans) will allow. You pay interest to yourself; a nice carrot.

PMs are precious metals.


Maybe you have time to sell you house, move your family to a smalltown or country farm, and get an apt or use a motorhome/camper for your workweek residence?

Anybody who thinks we have years before The Fall is dreaming.

You can homeschool your children easily and cheaply. Plant a garden, settle in. Maybe do consulting with clients you've already got a work relationship with?
Anonymous Coward
User ID: 837
United States
08/13/2006 07:13 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
...


Lester brings up a great point...

can you walk away from your 401K's today...
 Quoting: paladin


Hmmm...
Anonymous Coward
User ID: 130672
United States
08/13/2006 08:07 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
paladin,

I am fortunate enough to have the Schwab Personal Choice Retirement Account offered through my 401(k). The PCRA gives me the equivalent of a regular brokerage account, with the caveat of only basic options trading available (a legal requirement for IRA's and other self-directed plans). So I can trade all the "paper-based" PM stuff (GLD and SLV ETFs, resource mutual funds, etc.) whenever it is appealing.

I think this Mr. Petillo is blowing smoke. Several links on his site point to ISP-provided placeholder pages...

You can read the official Technical Explanation of this bill (H.R. 4) here: [link to www.house.gov] . The section that explains the new provision allowing "investment advice" begins on Page 127 of the original document (see the numbers at the bottom of each page). If you read this section you will see that there is NO provision for anyone forcing any participant to take any advice. What this does do however is allow plan custodians to recommend investments that could potentially benefit the custodians at the expense of the participants. As always, "CAVEAT EMPTOR".

The new bill does allow employers to automatically enroll new employees in a 401(k) plan. And I suppose that coupled with the investment advice, this could be a bad thing. But I don't think there is anything in this bill that *forces* an employer to auto-enroll an employee, or that prevents such an employee from later opting out. (I haven't finished reading this 367 page document yet so I may be wrong.)

More choices and less taxes is always a good thing in my book. But people that need babysitting usually aren't ready to make intelligent choices.

book
Anonymous Coward
User ID: 130672
United States
08/13/2006 08:12 PM
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Re: WARNING.......must read....401k's ...IRA...Gold...Silver
I vote Crap on this post. Not against you paladin (as I seem to have the same views as yours re: PMs and FRNs); but against the feeble review of the bill by Mr. Petillo. IMO he's stirring shite without really digging into the substance of the bill.

poop





GLP