posted on Sep, 22 2011 @ 12:39 PM
Any financial institution such as pension and retirement funds that is backed by the US government, you can trust. The US gov had often depended on
loans to finance its operations since the 30s, instead of depending on earnings and building up its nest egg. Thanks to the bankers for that,
rightfully, or wrongfully.
You can trust the US gov on finances simply because US is not Greece or Xanadu. It is a huge landmass, with intelligent and creative human capital,
resources both on surface and below that wont be expiring anytime soon, with more to come as our tech advances to mine them or to create them. It is
the a rich nation, if not the richest. Australia is the only continent that could come close to US.
Thus it has the ability to feed and fund itself alone, as it did after Independence till WW2 where it had to help the rest of the world and defended
itself against attack, which it won amazingly in TWO theatres of war. No other nation could come close as winners.
The world still have needs to be meet, and US could assist those nations and earn financial revenues through such assistance, such as trade, military
defense, aid, etc. With its revenues, it will be able to fund social expenditure and progress the nation even further in terms of education and
healthcare, and uplifting of lives. (squabbles by polititicians is expected, afterall it is a free democracy, but at the end, you can trust them to do
the right thing, cos even after falling down, they have the ability to stand up again to correct errors.)
Therefore, your pensions and funds are safe, if backed by US gov. They had TIME, in terms of centuries as a nation, and WEALTH, in terms of GDP, that
private enterprise do not have.
For pension investments with other private banks, you'll have to keep your fingers crossed and live on a prayer in these times.
For those holding gold, I wish you all good luck. Too bad you cant eat gold or buy an egg with gold. You will have to change for paper cash. But when
that happens, billion others too will be changing gold into cash too at the same time, and guess what happens next? Commodities do fall frightening
fast - hundreds of points within minutes.