Obama Admin Looks to Nationalize your 401K & Control Americans’ $19.4 Trillion In Retirement Accounts

Try to comment on things you know something about. People are retired and getting payments from 401K right now and have been for a long time.

It’s the “one” retirement system that works and you know why it works? Because the Gooberment have nothing to do with it…for now anyways

People should have money in hard assets than 1's and 0's electronically on some server that can dissappear in a blink of an eye.

He's gonna get to that soon enough.. remember his claimed father believed EVERYTHING belonged to the State..

my work said, why aren't you taking advantage of our 401k.

I said, because it won't be there when I'm ready to retire. I buy silver.

We're sick of this shit and are planning to take it out of the 401K, take the tax hit and purchase gold coins. Back in 2006 a hard lesson was learned when putting 1k in a savings account at 3.4% interest - seven years later that 1K only earned $153 because they kept dropping the interest rate down to eventually .02%. In 2006, could have purchased 2 one-ounce gold coins for $560 apiece and tripled the investment with gold being over $1678.45 now. Savings accounts are a rip-off. Looks like the 401K may be headed down the same rip-off road.

Is there any way in hell you'll stop bumping your own threads?

You got some good stuff, sometimes, and this incessant thread masturbation has got to stop.

Oh, and the gubmint steals.

Yea I remember, seems like there's no way to hide.
One of my coworker's dad buries his gold but im sure they'll want that too once they find out how you're buying food & other necessities.

I was just thinking you can hold your earnings a lil longer if you have em in your possesion than having them taken quicker in a bank/bond/stock/401 ect.

GE pays negative 4 billion in taxes. corporations arent above the law, they are the law.

Will somebody please stop these psychopaths

Just wait...they're going to tax your employer contributions to your health care coverage.

I understand from a thread yesterday that what we've paid for our health care now appears on the W2.
I haven't look at mine yet...

One ounce silver American eagles and one ounce gold vienna (euro) philharmonics are safe.

Well, fuck. That's the only money I have left. Now the fuckers want that too. What, does Mooshell need another fucking vacation or something? Fuck them.

There is a legitimate fear this massive sum of $ could go belly up same as the 2008 crash. Then of course the public sector [government] would be expected to step in and cover losses. This is how our 'capitalist' system works, and it's what makes private financial services industry big $ and allows them to take big risks [gamble] for that big $. Americans can't grasp any emergency situation where the government wouldn't step in and cover financial losses of both private institutions like banks and individual citizens. The business model our 'capitalist' system functions with is based on this premise. But, this is not the case in many other parts of the world, specifically the 2nd and 3rd world, where it is common for 'investors' to not deliver as promised, or just outright steal, and the little investors money isn't backed up and guaranteed by their governments like it is here.

There is a legitimate fear this massive sum of $ could go belly up same as the 2008 crash. Then of course the public sector [government] would be expected to step in and cover losses. This is how our 'capitalist' system works, and it's what makes private financial services industry big $ and allows them to take big risks [gamble] for that big $. Americans can't grasp any emergency situation where the government wouldn't step in and cover financial losses of both private institutions like banks and individual citizens. The business model our 'capitalist' system functions with is based on this premise. But, this is not the case in many other parts of the world, specifically the 2nd and 3rd world, where it is common for 'investors' to not deliver as promised, or just outright steal, and the little investors money isn't backed up and guaranteed by their governments like it is here.

You don't need no stinking 401k's... The Gubberment can use the cash much better AND look after you in your old age...

Each to their ability, each to their needs.

you fail to understand the magnitude of the problem

the evidence is that you believe that something is safe

Slave much?

Um.... I know of a lot of people who have gotten their 401ks. Some became millionaires upon retirement because of their diligent and disciplined saving and investing---- this on a unions wages of around $50-$60k per year!

Obozo is oblivious to American thoughts and opinions (it is painfully obvious he is not American) although as a Communist he is bent on destroying us anyway.

This needs to be openly opposed by the American pubic in as many ways as possible.

Has anyone started a petition yet telling the government to keep their damn thieving hands off our savings? It should NOT be worded nicely either....

Going from sliding into socialism to tumbling head over heels. Guns - property - savings -

Into the bankrupt black hole of the US government.

Maybe thats why the North Korean video is so funny. We're burning thru cash faster than a rocket heading into outer space.

That's for sure! You can use some of today's dollars to invest in tangible items you will need in the forseeable future such as sturdy shoes, tires, OTC meds, replacement parts for whatever. And get things checked out & repaired now, including your body.

Been seeing this balloon floated time and again over the past 4 years. But I've got to question the fundamentals. How much money from these funds is invested in the stock market? It's obvious that the plan has been to inflate a bubble in the market, that's obvious when the market is approaching historic highs and yet the economy has entered another so called recession (4th 1/4 GDP was negative).

If they force retirement accounts to hold treasury bonds, then they take an equivalent amount of liquidity from the stock market and a drop in prices. So, maybe they plan on tanking the DOW permanently and then confiscating the money. But, that $19 trillion would be roughly 1/2 or $9.5 trillion.

Of course when the fed can print up any money I guess it doesn't matter to the morally challenged in charge. They can always sell out at peak prices and invest in hard assets like gold, property, etc. Again, your average person who spends most of their earnings on survival will pay the biggest cost.

.

Yep..you sure got that right!
People should have all their hard assets (including any cash money) in their hands that they Physically Control IMHO!

As for me I'M using some of my, soon to be worthless (Federal Reserve Notes) to buy more tools (aka-hard assets also). In the future if the SHTF (what ever the SHTF case is), I see tools being the future wealth IMHO!
As most of us men who love working with their hands and etc know, tools are very damn valuable!

Soon we will be spending everything we earn. Who will be able to afford a 401k.

Getting the job done right requires the right tool(s).

Very valuable indeed.

$100 says that THIS would start the revolution. lol

they couldn't make a movie this good.

I dumped my 401K a few years ago. Like the Ponzi Social Security system, this investment scheme can and will implode sooner or later. They want this money, they will find a way to take it. Get out now while you can get something out of it.

I embrace old school concepts. I raised my kids to respect their elders and understand the concept of family takes care of each other. Any of them are welcome back in my home should they want/need to come back. And I know that when it's time to retire, yes, they will take care of me too. I've walked the walk by illustrating this to them via how I've dealt with my parents in ensuring they have what they need in their retirement. That how it used to work and it worked fine. If you raised your kids right, there is no need to slave to the system in order to ensure you have a roof over your head and food in your belly in retirement.

Think, too, of how much money goes into maintaining multiple homes within one family. If you have parents and three kids, for instance, reality today is there are five separate homes with all associated expenses in play. Is this necessary? No. Combine resources, pay Comcast once for service rather than five times, have one Verizon cell bill and utilize the family plan so kids are paying 9.99/mo for a phone instead of everyone paying $50-$100 for a phone. Things are going to get very difficult...be prepared to re-integrate the family unit to pool resources.

unfortunately not. 0bama got elected AGAIN, which means we are truly a stupid bunch of morans

I was watching this news story and they said guberment was concerned that retiree's were getting ripped-off by irresponsible financial institutions so guberment should step-in with their expertise. Give me a break! Laughable! Anybody equate gubt. with financial integrity?