Pensions and Other Retirement Accounts to be Forcefed into Derivatives Blackhole

[Makalakumu]

I wanted to take a little break from the Study, but I keep coming across things that I feel I at least to put out there for the community. Many of you have retirement accounts of some kind and you are depending on these accounts to form some kind of nest egg for you at some later date. In the US, we have about 2 trillion dollars locked up in private accounts alone. This number is far larger if we look at public retirement accounts that aren't related to Social Security. Well, I found this article from Bloomberg.

http://www.bloomberg.com/apps/news?pid=20601014&sid=aaBSS5oKjb80

March 8 (Bloomberg) -- The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.

If the government throws the money at the derivatives, you will lose it. There is no way that even several trillion dollars can bail them out because the total obligation is 1.14 quadrillion. People have already been tricked into putting retirement accounts into these things. The rating agencies conspired with the banks to give them triple A ratings steal the money by replacing real value with bullocks.

Now, it looks like the government is getting into the games and could very well force fund managers to cram any remaining money into this gaping maw. The result will be the same, the gigantic banks keep the value for that investment and you will be left with the so called "toxic-assets" that they purposefully created.

IMO, this is a form of robbery in which the thieves can steal trillions of dollars from millions of people. And, because the banks control the government, they are going to force the looting until there is nothing left, it seems. Our society is in big trouble, the corruption has reached a point where the powerful are looting everything in sight. Something like this could destroy the middle class.

Please take note and discuss.

 

[Deaf Smith]

What are you griping about, maunakumu?

That's just 'Hope and Change' for you. You put money in derivatives and hope you get change from it.

Argentina nationalized all their retirements and lost everything.

But don't worry. Obamacare will get rid of the old people (death panels) and get rid of deformed/handicapped children through abortions.

So you see, no need for retirements or extended healthcare!

That's 'Hope and Change'

Deaf

 

[David43515]

This is why you manage your IRA yourself. You either put it in an "index fund"* if you don`t want to take the time to look into investments on your own, or you take two monthes to read a few books (I like anything by The Motley Fool) and devote say two weeks a year to making investments that you can let sit for x# of years. If you`re really ambitious you do what the banks and creditcard companies themselves do, namely look into investing in property tax leins.**

* an index fund is like a mutual fund except that instead of investing in 5 or 10 stocks, it invests the same percent of it`s money in every stock listed in a particular stock index. Like all the stocks listed on the Nikei for example. For people who think they don`t know enough to invest, there`s literally no other more diverse and safe investment. The return is usually between 8-12% anually.

** about 2/3 of the states auction off the proerty tax leins they have against properties each year. Basically you pay the tax or a percentage of it, and you`ve bought the lein from the state. Then by law the property can`t be sold or reposessed until your lein is payed off. Your lein also takes legal priority ahead of all other private debts. So if a bank wants to forclose on the $200,000 mortgage they first have to pay off your $12,000 lein and all the interest that the lein has collected. It varies from state to state, but the interest rate is usually between 8 and 15% annaually and it`s protected by law. Someone has to pay you usually within three years or you can sell the land to collect your debt.

 

[Makalakumu]

This is why you manage your IRA yourself. You either put it in an "index fund"* if you don`t want to take the time to look into investments on your own, or you take two monthes to read a few books (I like anything by The Motley Fool) and devote say two weeks a year to making investments that you can let sit for x# of years. If you`re really ambitious you do what the banks and creditcard companies themselves do, namely look into investing in property tax leins.**

* an index fund is like a mutual fund except that instead of investing in 5 or 10 stocks, it invests the same percent of it`s money in every stock listed in a particular stock index. Like all the stocks listed on the Nikei for example. For people who think they don`t know enough to invest, there`s literally no other more diverse and safe investment. The return is usually between 8-12% anually.

** about 2/3 of the states auction off the proerty tax leins they have against properties each year. Basically you pay the tax or a percentage of it, and you`ve bought the lein from the state. Then by law the property can`t be sold or reposessed until your lein is payed off. Your lein also takes legal priority ahead of all other private debts. So if a bank wants to forclose on the $200,000 mortgage they first have to pay off your $12,000 lein and all the interest that the lein has collected. It varies from state to state, but the interest rate is usually between 8 and 15% annaually and it`s protected by law. Someone has to pay you usually within three years or you can sell the land to collect your debt.

All good points, and I just want to say, once you learn some of the jargon, it's not that hard in this economy. Any paper wealth is destined to be destroyed. You need to focus on things of real value, because I really see all currencies getting washed into the toilet bowl in the near future. In five years, we'll basically have a high tech barter economy. Serfs will use paper and real wealth will be transferred in commodities and eventually real estate when that bubble finally deflates.

 

[Makalakumu]

What are you griping about, maunakumu?

That's just 'Hope and Change' for you. You put money in derivatives and hope you get change from it.

Argentina nationalized all their retirements and lost everything.

But don't worry. Obamacare will get rid of the old people (death panels) and get rid of deformed/handicapped children through abortions.

So you see, no need for retirements or extended healthcare!

That's 'Hope and Change'

Deaf

Yeah, this is what happens when all governments reach a certain threshold of corruption. The criminals loot every pot of money they can find until the whole edifice falls in on itself. Obama is a joke. He plays his job like a day trader and mafia boss. When he makes a decision, he checks the stocks and if its up, its a good one. When he wants someone to do something, he asks and then puts them on Guido's list to break some knee caps if they balk in any way.

You can bet that any of these retirement accounts that are approached will have attack dog regulatory agencies and IRS breathing down their neck if they don't buy up the Banks' toxic assets. Obama isn't really even in charge of this. The teleprompter reading slickster is basically following marching orders just like Bush.

Anyway, I felt that people needed to know about this so they could take action now. If your pension is fed into the derivatives black hole you will lose it, so take control of it now. Or contact your state representatives and educate them about these things. At the very least, you can bail yourself out, but remember, we're going to reach a critical mass with this thing and when enough people lose everything the crooks who own the media are going to point the finger at anyone who still has anything. Then it's Mob Rule time and the thieves get away while everyone is at each others throats.

Talk to people and get the word out.

 

[Makalakumu]

Ha, look at this, Hawaii's Governor was caught red handed at this shell game!

http://www.honoluluadvertiser.com/a...329/Audit-raises-legitimate-management-issues

Well, the audit is now public. It is a dense document dealing with a complex, highly technical subject. And it contains plenty of facts, including these:

• The state invested $1 billion — nearly 30 percent of its entire portfolio — in a single, risky investment product known as auction rate securities.
• The state doubled its stake in fiscal year 2008, shortly before the auction-rate market froze, making it difficult to draw from the investment at a profit.
• The Financial Administration Division administrator said neither he nor budget director Georgina Kawamura authorized this increased stake before it happened, a finding Kawamura disputes.


If it sounds like someone wasn't minding the store, Lingle and Kawamura offer this feeble defense: It was legal.

This is pretty what Obama wants to do on a national level and the results will be the same. Yeah, you might be able to find a lawyer to say it's legal, but when the details of this come out, not only are people going to be pissed, people are probably going to jail.



Look at the article and look at how Gov. Lingle tries to demonize the auditor and make this seem like it's partisan. Well, Mrs. Governor, I can point to raft of Dems on the Federal level who are trying to do the same thing, but on a larger scale.


Here was my comment in the paper...

The creation of these toxic financial products have allowed multinational financiers to steal the value of investments by trading it for falsely rated toxic waste. If Lingle was involved in this in any way, then we are dealing an arm of the thieving leviathan that has stolen 70 trillion dollars from the world economy. Her administration should be held accountable and people need to put this into perspective. The hyperbole on her part, shows the public that the jig is up. People are starting to put the evidence together and understand what this scheme actually was designed to do. For all of the partisan hacks reading this, don't worry, plenty of Democrats including Obama have been doing the same damn thing. We have a raft of criminals who control the government and they are looting every pot of money they can before the system crashes. Nero fiddles while Rome burns.

Crazy. This thieving shell game is for real, bi-partisan, and ubiquitous. It uncovers a mind-numbing level of corruption.

 

[dancingalone]

This is why you manage your IRA yourself. You either put it in an "index fund"* if you don`t want to take the time to look into investments on your own, or you take two monthes to read a few books (I like anything by The Motley Fool) and devote say two weeks a year to making investments that you can let sit for x# of years. If you`re really ambitious you do what the banks and creditcard companies themselves do, namely look into investing in property tax leins.**

* an index fund is like a mutual fund except that instead of investing in 5 or 10 stocks, it invests the same percent of it`s money in every stock listed in a particular stock index. Like all the stocks listed on the Nikei for example. For people who think they don`t know enough to invest, there`s literally no other more diverse and safe investment. The return is usually between 8-12% anually.

** about 2/3 of the states auction off the proerty tax leins they have against properties each year. Basically you pay the tax or a percentage of it, and you`ve bought the lein from the state. Then by law the property can`t be sold or reposessed until your lein is payed off. Your lein also takes legal priority ahead of all other private debts. So if a bank wants to forclose on the $200,000 mortgage they first have to pay off your $12,000 lein and all the interest that the lein has collected. It varies from state to state, but the interest rate is usually between 8 and 15% annaually and it`s protected by law. Someone has to pay you usually within three years or you can sell the land to collect your debt.

Anyone want to speculate on the chances that the federal government will be eventually 'forced' to seize 401(k) and IRA assets in order to keep Social Security running? Sounds unlikely right? Well, I understand this has been an idea being floated around at some progressive think tanks.