Check your 401K goodbye? - 08/27/15
Re: Check your 401K goodbye? - 08/27/15
Cool...good old fashion fascism with a progressive twist.
"THE GOAL: FINANCIAL REPRESSION
One of the first steps the Obama administration took to signal its direction was to unveil its wildly unsuccessful “MyRA” program. This takes participants’ funds and invests them in “ultra-safe”, government-issued debt.
You can be sure that the future of the retirement services business will be to extend “fiduciary” responsibilities to require advisors to leverage federal debt instruments in their clients’ portfolios.
This is called “financial repression”, and it is the hallmark of a government on its way to bankruptcy. Essentially, a failing government forces investors to purchase its debt because it knows damn well that the instruments will ultimately never be repaid.
Argentina and other failed countries have embarked upon this strategy prior to a full-blown currency collapse."
Read more at http://joemiller.us/2015/08/if-you-...retirement-accounts/#LCk8izGlqVElW0e2.99
"THE GOAL: FINANCIAL REPRESSION
One of the first steps the Obama administration took to signal its direction was to unveil its wildly unsuccessful “MyRA” program. This takes participants’ funds and invests them in “ultra-safe”, government-issued debt.
You can be sure that the future of the retirement services business will be to extend “fiduciary” responsibilities to require advisors to leverage federal debt instruments in their clients’ portfolios.
This is called “financial repression”, and it is the hallmark of a government on its way to bankruptcy. Essentially, a failing government forces investors to purchase its debt because it knows damn well that the instruments will ultimately never be repaid.
Argentina and other failed countries have embarked upon this strategy prior to a full-blown currency collapse."
Read more at http://joemiller.us/2015/08/if-you-...
Re: Check your 401K goodbye? - 08/28/15
My "401K" rests in my safes at home.. 