coolhand's Account Talk

[burrocrat]

"warren buffet toilet paper"

and

"Americans Anonymous"

hello, my name is china.

Is there a way to buy futures on the Amero?

 

[coolhand]

http://www.guardian.co.uk/commentisfree/2010/jan/12/disdain-democracy-bankers-bonuses-theft

 

[coolhand]

http://www.traders-talk.com/mb2/index.php?showtopic=114991

 

[coolhand]

http://www.reuters.com/article/idUSN1322681620100114?type=marketsNews

 

[CountryBoy]

I agree. For now we have to keep an eye on it. Annuities tend to be very expensive vehicles though. I'd advise looking very carefully at that option.

http://www.behindbluelines.com/2010...ce=subscriber&utm_medium=rss&utm_campaign=rss

The Feds Hungrily Eye Your 401(k)
by Moody on January 9, 2010, 9:03 am


This morning I read a very disturbing news item by Theo Francis in Bloomberg. The essence of the article is that the Obama Administration is proposing to force retirees to purchase annuities via conversion of their 401(k) accounts. Now, the article does not fully define what “annuity” would qualify, but my guess is that federal debt securities will be at the top of the list. The federal government has already been monetizing the debt with the Federal Reserve printing money and then buying federal debt. So why not a little wealth confiscation on top of that?

In fact, its already happened in other countries. Most recently Argentina nationalized their 401(k) equivalent and forced their owners to buy–you guessed it, government debt.

Overall, I find none of this surprising. 401(k) have been under assault for years by forces that believe that Americans should not be trusted with their own money. Now they are using the financial crisis as “proof” that 401(k)s are failing Americans. Never mind that the financial crisis was “made in D.C.”

This ain't over by a long shot. It falls right into obama's plan to control as much of our lives as possible. America is asleep at the switch.

 

[Show-me]

We talked about this a few years ago before we even knew about BHO. As I remember it was started with the budget short falls and the .gov dipping into the G fund.

This is ugly and serious. This is a sign of desperation that they can not keep their hand off of a pool of money even if it is not theirs to touch. They are watering at the mouths like a pack of hungry wild dogs. Be afraid.

We need a thread dedicated to organizing and protecting our money. As Phil would put it a "mob action", I mean Democracy.

 

[nasa1974]

We talked about this a few years ago before we even knew about BHO. As I remember it was started with the budget short falls and the .gov dipping into the G fund.

This is ugly and serious. This is a sign of desperation that they can not keep their hand off of a pool of money even if it is not theirs to touch. They are watering at the mouths like a pack of hungry wild dogs. Be afraid.

We need a thread dedicated to organizing and protecting our money. As Phil would put it a "mob action", I mean Democracy.

It's called the Supreme Court. The union heads need to start circling the wagons and get the information together for a lawsuit to stop any action against our TSP.

 

[CountryBoy]

We talked about this a few years ago before we even knew about BHO. As I remember it was started with the budget short falls and the .gov dipping into the G fund.

This is ugly and serious. This is a sign of desperation that they can not keep their hand off of a pool of money even if it is not theirs to touch. They are watering at the mouths like a pack of hungry wild dogs. Be afraid.

We need a thread dedicated to organizing and protecting our money. As Phil would put it a "mob action", I mean Democracy.

Your right Show-me,

I remember that now and at the time the consensus, if IIRC, was that the feds always paid it back. But this time it may be different, with our massive debt and the obvious leanings of our gov't and their outright refusal to pay any attention to the public.

I agree on a seperate thread for those of us that want to hear different options on how to protect our money. Then we won't monopolize Cool's house.

In the link I posted, there was another link on what one guy was doing, paying off ALL debts and folks commenting about how they are investing to protect their money. I beleive in being proactive, because being reactive in this case, will be to late.

CB

 

[Show-me]

Socialism at its best. Big pool of money, people worked hard to earn it and save it...................lets redistribute it. Lets pay some company to tell us who gets what and when.

 

[nnuut]

I think I'll cash in my TSP and buy a plot of land to plant a garden!
View attachment 7961

 

[Bullitt]

Re: Gov't dipping into our 401K's

This is why I believe we will soon see a Roth IRA option in TSP. If the makers can get us to put more fun tickets into retirement accounts, it's more money in the coffers for pork, err I mean stimulus. Actually, I think its called 'Job Creation Programs' now.

 

[Silverbird]

For those of you who think this is China, there are no pension plans in China. That's one of the reasons their savings rate is so high. In the days of the iron rice bowl, everyone was equally poor in retirement (so don't call the system good then either). Now you just drop off the map, or drop by on your kid (yes, one, due to the single child program).

 

[alevin]

For those of you who think this is China, there are no pension plans in China. That's one of the reasons their savings rate is so high. In the days of the iron rice bowl, everyone was equally poor in retirement (so don't call the system good then either). Now you just drop off the map, or drop by on your kid (yes, one, due to the single child program).

And along about 2020, when all those single-(male) children come to maturity and can't find a mate (cause the single-child policy combined with culture resulted in a generation weighted heavily to male gender and not equally balanced).....the potential is they go overseas to find spouses, or import spouses from poorer countries, or they go to war and bring home war brides. Hmm.

 

[Frixxxx]

And along about 2020, when all those single-(male) children come to maturity and can't find a mate (cause the single-child policy combined with culture resulted in a generation weighted heavily to male gender and not equally balanced).....the potential is they go overseas to find spouses, or import spouses from poorer countries, or they go to war and bring home war brides. Hmm.

Gives whole new meaning to the food pyramid.

2 parents support and feed 1 kid.

1 kid support and feed 2 parents.

Not the future they were hoping for.....but based on that, doesn't that mean their population will dwindle significantly?

We could see a ton of savings going to fewer people and creating a, dare I mention it, middle class, in a Socialist Society?:blink:

 

[coolhand]

As we can see this market is beginning to pick up the volatility making entry/exits more challenging for those who have been sitting on the sidelines.

Quite honestly, I'm not sure I'm going to find a good entry point in the near term with this market being overbought. I may end up waiting for the next sell/buy cycle from the Seven Sentinels.

 

[lindalyc]

have you even thought about reducing TSP contribution down to bare 5%, giving that Gov't will look into our TSPs? I used to contri. to maximum.

 

[coolhand]

have you even thought about reducing TSP contribution down to bare 5%, giving that Gov't will look into our TSPs? I used to contri. to maximum.

I think it's a good idea to consider. As long as the money is funding a retirement vehicle somewhere it could reduce any perceived negative future events related to TSP.

 

[mdszj]

I think it's a good idea to consider. As long as the money is funding a retirement vehicle somewhere it could reduce any perceived negative future events related to TSP.

I wonder if it would be a good idea to use a Roth IRA, with the assumption that they cant get to it since you have already paid any taxes required. But not sure how valid this assumption is.

 

[Nordic]

I wonder if it would be a good idea to use a Roth IRA, with the assumption that they cant get to it since you have already paid any taxes required. But not sure how valid this assumption is.

Good question mdszj, I've been starting to think about the same thing recently.

 

[CountryBoy]

Hey Guys,

Show-me moved some of our earlier comments over to the link below, seperate thread, so we could keep all our ideas, concerns, latest info and questions in one thread, because of the interest it may generate.

http://www.tsptalk.com/mb/showthread.php?t=7988

Regarding ROTH's, the general consensus among most of us here on the MB, was to get the 5% matching TSP funds, then max out our ROTH's annually and then if ya had any remaining $$, put in TSP or whatever.

But now some of us are rethinking that philosphy, in the light of the Feds possibly mandating our retirement money be used to purchase Treasuries, so they can pocket that money to cover all their spending.

Hope this helps.

GL,
CB