It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Obama Begins Push to Confiscate IRA’s & 401k’s

page: 1
9

log in

join
share:

posted on Jan, 30 2014 @ 04:28 AM
link   
Morning,

Yet another spectre of the coming collapse has arrived, very much like the final spirit in A Christmas Carol.
MyRA is here.
What exactly is MyRA?
It's termed as a “No Risk, Guaranteed Return” retirement savings bond program but this is a pretty blatant push by the elites at another round of wealth confiscation.
And who can blame them.
How many people have caught on to the ACA?
No one stood up to stop it.
They know the public is ripe for fleecing.
The state of the union address was supposedly responsible for the lowest ratings since 2000.
Well hold onto your hats because this ride is about to get a lot worse.
This new program is nothing more than the beginning of retirement savings raiding by the establishment to be used for T-bills...confiscated by forced allocation into treasury investment vehicles.
It is a crime against the people.
The government has declared war against it's own citizens.
Now, sounds like a good time to get your savings out. The prudent advice is to withdraw your funds (regardless of the tax hit) from private retirement accounts before they are forced into long term T-bonds and gambled away.

Exerpt from article:

National Seniors Council Director Robert Crone warns: “This whole issue is moving forward very quickly. Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.”

The writing is on the wall but as always, you should decide for yourselves...

www.silverdoctors.com...

-Peace-




posted on Jan, 30 2014 @ 04:50 AM
link   
Thing I don't get is why does the government have to steal my retirement funds? Dont they just print or electronically create money on demand?



posted on Jan, 30 2014 @ 05:04 AM
link   

caterpillage
Dont they just print or electronically create money on demand?


The government doesn't print money.
The Federal Reserve does that and they aren't Federal at all.

-Peace-
edit on 30-1-2014 by Eryiedes because: Fixed



posted on Jan, 30 2014 @ 05:12 AM
link   
reply to post by caterpillage
 





Thing I don't get is why does the government have to steal my retirement funds? Dont they just print or electronically create money on demand?



Because you having money is not in their best interest. Without money,
you must now depend on something else.
Thanks OP
I'll be watching this thread.
SnF

I wonder what this means for our tax returns?
edit on 30-1-2014 by randyvs because: (no reason given)



posted on Jan, 30 2014 @ 05:29 AM
link   
reply to post by Eryiedes
 


Will myRA replace Social Security or augment it? Of course, many of us think that there will be no more funds in the Social Security program before to long.

What the Gov't did with SS and Veterans benifits, they will also do with myRA. I guarentee it.



posted on Jan, 30 2014 @ 05:41 AM
link   
reply to post by Eryiedes
 


MyRA is a re-branding of what is more commonly called a savings account. Many of the nation's underprivileged have no cultural exposure even to the concept of savings. You may view it as a cynical attempt to take credit for enabling the poor to do something positive for themselves they should have been educated to from the beginning, but do not attempt to turn it into creeping fascism. Remember, your source for this claim is a website that wants to sell you silver, a highly volatile commodity, as an investment!



posted on Jan, 30 2014 @ 05:55 AM
link   

DJW001
reply to post by Eryiedes
 

You may view it as a cynical attempt to take credit for enabling the poor to do something positive for themselves they should have been educated to from the beginning, but do not attempt to turn it into creeping fascism. t!



Really? wow... ignorance is even far too big on this site.



posted on Jan, 30 2014 @ 06:03 AM
link   

Antipathy17

DJW001
reply to post by Eryiedes
 

You may view it as a cynical attempt to take credit for enabling the poor to do something positive for themselves they should have been educated to from the beginning, but do not attempt to turn it into creeping fascism. t!



Really? wow... ignorance is even far too big on this site.


Please explain. MyRAs are essentially tax sheltered savings accounts for the poor. They are no different than 401 ks that invest in government bonds. What is your issue? Do you believe the poor should be denied the same tax breaks as the rich, or what?



posted on Jan, 30 2014 @ 07:21 AM
link   

DJW001

Please explain. MyRAs are essentially tax sheltered savings accounts for the poor. They are no different than 401 ks that invest in government bonds. What is your issue? Do you believe the poor should be denied the same tax breaks as the rich, or what?


They're different in that they're a waste of 30 years of investing.

Savings Bonds return about 2%. 3% at best.

The same $25 down followed by $5 a week for 30 years or to a maximum of $15,000 (the limits of the myRA) in a no minimum, no fees Vanguard fund for example, could return anywhere from 8% to 20%.

All the same perks apply if opened as a Roth, no fee withdrawals and tax free income.

Putting the same money into the myRA rather than any number of no-fee no-minimum funds out there will cost you tens of thousands of dollars.

It's better than nothing, sure, but if you can afford to contribute to this you can afford to contribute to something better.

There is a serious lack of personal finance education in this country and what little there is it's at a time when people can't grasp how important it is. I remember in grade school going over compound interest and returns. Meant absolutely nothing to me or anyone in my class at the time. The math might be simple for third or fourth graders but the value of the lesson is lost to an audience of that age.

myRA: $25 down, $5 a week for 30 years at 3% = $11,478.78

typical RothIRA: $1000 down, same $5 a week for 25 years at a low side 8% = $24,393.90.

So even if you wait a couple of years to save enough to buy into an IRA with $1,000 down (very common miminum though $0 downs are available) you'll still come out ahead over the myRA.

Fees for us poor folk are pretty much extinct. Simply opting out of paper mailings is often enough to get rid of management fees.
edit on 30-1-2014 by thisguyrighthere because: (no reason given)



posted on Jan, 30 2014 @ 09:07 AM
link   
reply to post by Eryiedes
 


Anyone remember the "Social Security Trust Fund"?

It seemed fine until it was used as a "petty cash" drawer and ended up with a bunch of IOU's stuck in it!

How is this going to be any different?

Also, do the "Bankers" get the money to play with, OR does the government just end up with another piggy bank to rob??

Either way, this scheme makes Bernie Madhoff, look like an idiot.......



posted on Jan, 30 2014 @ 09:12 AM
link   

caterpillage
Thing I don't get is why does the government have to steal my retirement funds? Dont they just print or electronically create money on demand?


Because it is unfair that you have saved up for your retirement and others haven't. It's unfair that you had the good sense and forethought to prepare for your future instead of partying and wasting your money on frivolities. It's unfair that you have a savings account and other people (surprisingly enough democrat voters) do not, so the government is going to take over your savings to make it fair.

That's their thought process, at least.



posted on Jan, 30 2014 @ 09:16 AM
link   

NavyDoc

caterpillage
Thing I don't get is why does the government have to steal my retirement funds? Dont they just print or electronically create money on demand?


Because it is unfair that you have saved up for your retirement and others haven't. It's unfair that you had the good sense and forethought to prepare for your future instead of partying and wasting your money on frivolities. It's unfair that you have a savings account and other people (surprisingly enough democrat voters) do not, so the government is going to take over your savings to make it fair.

That's their thought process, at least.


Here is the one thought (idea) that has never failed me.

Proper planning prevents piss poor performance. (The 6 "P"s)

People that fail to prepare, for anything and everything, usually fail at anything and everything. Whodathunk?
edit on 30-1-2014 by TDawgRex because: Just a ETA



posted on Jan, 30 2014 @ 09:21 AM
link   
Hmmm, a web site that sells Silver
saying our retirement accounts will be stolen by the government...



posted on Jan, 30 2014 @ 09:27 AM
link   

Lil Drummerboy
Hmmm, a web site that sells Silver
saying our retirement accounts will be stolen by the government...


I don't buy the fear...

But I can see it happening. They've done it before and are still doing it. A newfangled program will just net them more money down the road.



posted on Jan, 30 2014 @ 09:30 AM
link   
Existing thread here:
www.abovetopsecret.com...


Please add further comments to the ongoing discussion.
Thank you







-thread closed-



new topics

top topics



 
9

log in

join