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Feds planing to seize all 401(k) funds???

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posted on Aug, 24 2012 @ 11:44 PM
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Col Craig Roberts (ret'd) explains how the Feds are planning to seize al the 401k funds and blame it on the Federal Budget Crisis - replacing the funds with Federal "instruments" so they can say "hey - we're just borrowing them...k!"

It's a long interview (50 min) - the bit about this is at the 25 minute mark - it's called Operation Blackstar.





posted on Aug, 24 2012 @ 11:46 PM
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If ANYONE knows what the feds are up to its Alex Jones.



posted on Aug, 24 2012 @ 11:51 PM
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reply to post by Aloysius the Gaul
 


Mmm... Don't see how that would help the government in the slightest. The government has zero way to pay for the retirements of 300 million people. It would basically mean commit suicide when you stop working for all Americans.

Besides you could confiscate every single dollar in circulation in the US and it only equates to about 5 trillion.... lol we blow threw that in like 4 years...



posted on Aug, 24 2012 @ 11:51 PM
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Originally posted by Aloysius the Gaul
Col Craig Roberts (ret'd) explains how the Feds are planning to seize al the 401k funds and blame it on the Federal Budget Crisis - replacing the funds with Federal "instruments" so they can say "hey - we're just borrowing them...k!"

It's a long interview (50 min) - the bit about this is at the 25 minute mark - it's called Operation Blackstar.


if any thing would start a revolution, that would.
people will take a lot of sh@@
but don't mess with their money.
edit on 24-8-2012 by hounddoghowlie because: (no reason given)



posted on Aug, 24 2012 @ 11:55 PM
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I honestly do not know what took Uncle Scam so long. Im surprised this didnt happen long ago. I wonder, what will be the rate of interest on these "loans"?



posted on Aug, 25 2012 @ 12:15 AM
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reply to post by hounddoghowlie
 





if any thing would start a revolution, that would. people will take a lot of sh@@ but don't mess with their money.


Considering most average working people hand over at least 30 % of their money in taxes freely, for much of it to be spent on nonsense they have no say in, I would say that your statement is wrong.



posted on Aug, 25 2012 @ 12:33 AM
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Interestingly enough... the numbers would work. For a short time anyway..... It would erase the national debt, by the look of things. At least, for another year or two. After that, even retirement taken 100% and wiped to the last penny wouldn't do it. Until then though...Well, here are the numbers I have handy to share from budget bookmarks.


Washington, DC, June 28, 2012 -

Total U.S. retirement assets were $18.9 trillion as of March 31, 2012, up 6.3 percent from $17.8 trillion recorded on December 31, 2011. The increase in retirement assets was driven in part by the rise in corporate equity values—for example, the S&P 500 Total Return Index grew by 12.6 percent in the first quarter. Retirement savings accounted for 36 percent of all household financial assets in the United States at the end of the first quarter of 2012.


The problem is...it would take ALL retirement to do it.


Retirement Assets by Type

Assets in individual retirement accounts (IRAs) totaled $5.2 trillion at the end of the first quarter of 2012, an increase of 7.3 percent from the end of the fourth quarter. Defined contribution (DC) plan assets rose 7.1 percent in the first quarter to $4.8 trillion. Government pension plans—including federal, state, and local government plans—held $4.7 trillion in assets as of the end of March, a 5.5 percent increase from the end of December. Private-sector defined benefit plans held $2.5 trillion in assets at the end of the first quarter of 2012, and annuity reserves outside of retirement accounts accounted for another $1.7 trillion.


401k alone, isn't even enough to cover 2 years of federal budgets. Maybe 18 months... Maybe.


Defined Contribution Plans (401k)

Americans held $4.8 trillion in all employer-based DC retirement plans on March 31, 2012, of which $3.4 trillion was held in 401(k) plans. Those figures are up from $4.5 trillion and $3.1 trillion, respectively, as of December 31, 2011. Mutual funds managed $2.8 trillion of assets held in 401(k), 403(b), and other DC plans at the end of March, up from $2.5 trillion at the end of December. Mutual funds managed 58 percent of DC plan assets at the end of the first quarter.
Source

The source link has a bit more for category data and colorful charts to show it that way.

They COULD do this...and it WOULD solve the Nation's financial problems in the short term. It would utterly destroy a fair % of the population in the process though, and the Social Security everyone would then be 100% totally dependent on just to live past the working years can't begin to supply a decent living.

I think this would represent the ultimate 1 trick pony...and could start true civil unrest in the process. Not even worth joking about in my personal opinion. I hope they drop the crazy talk.
edit on 25-8-2012 by Wrabbit2000 because: (no reason given)



posted on Aug, 25 2012 @ 12:33 AM
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reply to post by WhisperingWinds
 


that is income tax, which most people grudgingly pay.
401k are taxed to if taken out early. people grudgingly pay that too.
but to out right take your money and give you a worthless iou. people ain't gonna take to that real easy.

it would more than likely have some bs regulation that says you have to qualify, to get your money back.
you know just like social security that you can only make so much. with out paying tax.

edit on 25-8-2012 by hounddoghowlie because: (no reason given)



posted on Aug, 25 2012 @ 08:02 AM
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i suppose it's one way to force people to give up their money in a debt based society. if people aren't buying goods and begin to save their money, as they should be, our debt based economy goes down the #ter. tptb need people to go into debt on a regular basis in order to sustain their wealth and power.

i think this is plausible but i'm unsure of how or when they may attempt something like this. no doubt it would be buried in a large bill with a fancy name attached to it so most people wont realize whats going on until it's too late to do anything about it.

our current ponzi scheme system has no choice but to come to an end very soon. there are only so many sitting at the card table to rip off and some have begun to see this trick as the rip off that it is. question is how will it unfold......

many people talk of mysterious things that could happen in 2012, pole shifts, planet niburu or whatever it's called, earth quakes, and so on but many people fail to see whats right in front of them that's very real and very eminent, shame really, but we can only hope more people become aware and begin to work together to fix what we have before us.





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