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U.S. to force citizens to buy government bonds?

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posted on Jan, 18 2010 @ 04:01 PM
I've heard "chatter" about this recently. Quoted below is one source that contains link and information from other sources (including Businessweek Magazine) to the effect that IRA- and 401(k)-holders will soon be foreced to buy US treasury bonds.

Given that 80% of US treasury issues were purchased by the Fed in 2009,, it seems that the traditional foregin buyers of US debt (i.e., China, Japan, Europe, and the Arab nations) are no longer as willing to play ball as they once were. Now they need a new bottom layer to keep the pyramid scheme growing...

"...Rick Santelli was talking about a potential to effectively force money into the Treasury market.

Where would they get this?

From your 401k and IRA accounts!

From Businessweek:

"The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort."

Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!

Forcing people into Treasuries as an "annuity" is exactly what Social Security allegedly is. Except that Treasury stole the money that was collected in FICA taxes and spent it!

Guess what? They'll do that here too - you're going to "invest" in Treasuries which of course are effectively a CALL option on the future taxing ability of the government.

The problem is that with an aging population and the immigrant problem (illegal immigrants that is), along with offshoring, the aggregate wage base will drop and thus this is the most dangerous investment of all!

What's even worse is that the government has intentionally suppressed Treasury yields during this crisis (and will keep doing so by various means, including manipulating the CPI - the "inflation index" - as they have for the last 30 years) so as to guarantee that you lose over time compared to actual purchasing power..."

401k/IRA Screw Job Coming? - Karl Denninger,, 1/8/10

Given the $12 Trillion plus (and increasing) U.S. national Debt and $70 Trillion plus Total Downstream Unfunded Federal Obligations, concerns that investors (especially China and Japan) will be increasingly reluctant to purchase U.S. Treasury Securities are well-founded

More at source:

posted on Jan, 18 2010 @ 04:24 PM
This should not be confused with a new form of savings by the government.

This would be downright theft. Oh, we are going to give you these worthless pieces of paper for your portfolios of actual value.

I have been reading some snippets of this around the web also.

If this goes through, you can take my million dollar bet this is all on purpose.

Remove everyone's (except the elite) assets completely and crash the economy. I did not buy into that before but everything they are doing just reinforces this theory.

I believe this was planned all along, crash the economy, steal everyone's assets and then move onto the next form of control. I cannot even imagine what that is going to be.

The times are a looking scary.

[edit on 1/18/2010 by endisnighe]

posted on Jan, 18 2010 @ 04:40 PM
reply to post by endisnighe

It seems like everyday this crap is rollining downhill towards us and is gaining speed. Things like this just don't make sense to someone like me. Of course everyone on the other side of coin thinks this is brilliant. I don't like that people arn't getting rowled up about most of the stuff that is going on right now. It's about time people stand up to their government.

posted on Jan, 18 2010 @ 04:55 PM
reply to post by born2BWild

Hey, my sister is in the health care field. She says she may be moving into a hole just like I am. She has always voted Dem and could not understand why I usually voted Repub or Independant. Well, now she knows.

The ball that started out the size of a basketball has ballooned to the size of the moon rolling downhill and picking up speed.

The only reason my head is above water, is I pulled my 401k out early 2008. I took a 20% hit due to the implementation of a federal mandate to hit people like me, that seen this whole thing happening. They taxed me when I pulled it out, where they use to hit you when you filed.

That law passed late 2007 early 2008. That was the straw that broke the back. I knew something had to be happening when they did that.

Everything that keeps happening just reinforces my dread for what is going on. Especially the lies about how our economy is doing.

The "unexpected" downturn in sales-what unexpected?
The "unexpected" rise in unemployment-same
The "unexpected" fall of the US dollar-same

I do not know who expected any of there lies, certainly not the economists I listen to. Maybe if they quit listening to the economists that kept saying everything was fine 2005-2008, something could have been fixed, they should have been listening to the ones I was listening to.

Now I am hearing China is right on the edge of the cliff. Nothing looks up for anyone. Our whole economy this year was a joke. If you infuse trillions into a non existent recovery, by borrowing from yourself, it is basic math to understand you are going to destroy what little recovery was possible.

That is why I think this had to be planned. It just does not make sense any other way.

posted on Jan, 18 2010 @ 05:07 PM

Originally posted by endisnighe
That is why I think this had to be planned. It just does not make sense any other way.

There are certainly plans and manipulations going on, but I'm not so sure its all part of a single "grand design" (although it could be; I don't rule out the possibility). Rather, I think the most likely explanation is that we are seeing the results of an increasingly desperate series of "mini-plans" that are all piecemeal, short-term "bandages" over a sucking chest wound. As the blood seeps through, they just slap another short-term bangage over things and think, "well, we'll come up with something else in X number of months, we always do." The problem is that "X" in this equation is getting shorter and shorter and the plans are getting more and more outrageous as they scramble to patch up the surface rather than tackle the underlying fundamental problems.

[edit on 1/18/10 by silent thunder]

posted on Jan, 18 2010 @ 05:17 PM
Who cares!?!? Anyone smart enought to know better pulled their money long, long ago. I pulled all of mine in 2007 and "reapportioned" it. Anyone still having any faith in 401(k) accounts or IRAs are pure suckers and will get exactly what they deserve - a one-way ticket up the proverbial brown creek without oars!

I remain simply astounded by the simple-mindedness and elevated levels of denial exhibited by the average person. This sytem is long overdue for collapse and the Fed and Treasury are running out of little bandages. I believe the slow-motion collapse that we have been witnessing will begin to pick up the pace this year. Confiscating citizen's wealth to keep the system afloat is the last desperate attempt to keep a dying system afloat. Rest assured, it will fail as all other attempts have. I mean, whose money do you confiscate and spend once all of the 401(k) and IRA money is gone???

posted on Jan, 18 2010 @ 07:34 PM
Similar thread here:

Same article quoted.

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