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The talk of the town

Townhall: It Begins: Confiscation of Private Funds by Government Desperate for Cash

Investor's Business Daily:

Already Congressional Democrats are plotting the expropriation of Americans' private 401(k) and IRA retirement savings accounts in favor of "a guaranteed income." If bank accounts can be casually expropriated in Cyprus to pay for big-spending governments and bailouts, there is no reason a nice slice of the $19 trillion in retirement accounts can't get the same treatment.

If it happens, it will signal the end of individual freedom and the return of feudalism.

First, They Came For The Cypriots...

If an asset is not FULLY liquid and available to you, then it isn't really yours at all

On 401ks

Posted by Ann Barnhardt - August 3, AD 2012 7:26 PM MST

 

401k plan of attack: 
 
1. STOP MAKING CONTRIBUTIONS if you haven't already.

2. Liquidate it. Pay the "penalty". Would you rather pay a penalty or have it all stolen? Or possibly replaced with a "government savings account" comprised of Treasury paper which will probably default or be confiscated long before you are ever allowed to "tap it", and will NOT be able to be passed to your heirs should you croak, but will instead be resorbed back into the collective? Oh, and don't bother whining to me about the "tax consequences". Paying income taxes to this satanic baby-killing Christ-hating government is now, absolutely MORTAL SIN. Why, why, why would you pay taxes?

3. If you can't liquidate it, take out a loan on the balance. Take out the maximum possible loan, and then set up the repayment schedule on the longest possible term.

Now, let's talk about all of you out there who are not permitted by your employer to liquidate your 401k. That decision rests with the PLAN ADMINISTRATOR, who is your employer, be it an individual or a board.

What kind soulless, psychopathic monster would refuse to let their own employees have access to their own money? What POSSIBLE reason could there be for a business owner or a board to refuse to fill out a few forms, sign at a few documents and just let people have their own money?

If your employer will not let you out of your 401k, you need to sit down and think long and hard about who you are working for, and why you are working for them, because they are, by definition, bad people.
Finally, what lesson can we learn from this? How about this: If you don't have access to something, if you cannot take physical possession of it, if all you have is someone telling you that they are taking care of your money, which you cannot touch or have access to - THEN IT ISN'T YOUR MONEY, AND IT NEVER WAS. In short, you have been conned.

If your employer won't let you liquidate your 401k, that means that your employer has CONNED YOU by telling you that they were paying you a wage of X, when in reality it was less than X by the amount of your 401k contribution amount. Go sit down and figure it out. Back out your 401K contributions off the top of your pay as if they never existed. THAT is your actual wage, if your employer refuses to let you out. Would you have ever agreed to work for that wage?

For those of you who come out on the other side of this collapse and war, you must always remember that if an asset is not FULLY liquid and available to you, then it isn't really yours at all, and you have to assume that all such arrangements are nefarious and must be rejected.

Spend or Save? – The Great Question of Our Time

by Dick McDonald
www.riseupeconomy.com
www.dickmcdonald.blogspot.com

You have two economic alternatives in life no matter who you are – “spend” your income and/or wealth or “save” your income and/or your wealth. There are no other options. However, buried in that question is the solution to man’s most pressing problems – poverty, hunger, starvation as well as slavery and man’s inhumanity to man. When the rules were made by tyrants there was no reason to concern yourselves with these problems – individuals were involuntarily trapped in the feudal system. With the advent of individual freedom and the creation of the Western World in the mid to late 2nd Millennium “saving” became possible and it has freed a considerable chunk of humanity from oppression. They were free to save and spend as they wished and created some really successful economies by not spending everything but saving and thereby “investing” a portion of what they earned in their future.

No economy on Earth can compare to the success of the United States of America – their free market capitalism allows each individual to successfully negotiate his own success by economies of saving or spending. Allowing that the USA is the best, it still falls short of providing the world with enough capital to eliminate poverty, hunger, starvation; it still lacks the resolve, strength and confidence to stop genocide and the modern slavery of totalitarianism. The USA allows its media to blame others for their misfortune – its leaders to cower behind the cover of appeasement and containment to avoid the stark reality that America is still too weak economically to effectively affect the course of history. It doesn’t need to be so. It is all tied up in the question of saving and spending.

Tyrants spent and consumed all their serfs produced in the feudal world. Modern “free-world” tyrants “tax and spend” as much as their people will tolerate. Unfortunately taxes represent the conversion of that which could be saved and invested into sums that will be currently spent and consumed. Therein lies the rub. There are groups, political parties, entire peoples and countries deluded by the concept that consuming is not deleterious to wealth creation. They ignore the fact that their people could all be wealthy if they just could save some of their income – or more precisely if they could invest some of their income in the future.

The people of the United States of America have bought into a delusion and fiction – they spent 1 ½ % more than they made in 2006. They became consumption-dependents – starved by severe taxation – they spend all they make and more and have become a drag on wealth creation in America.

So you rightly ask “What’s the big deal?” “So we spend too much, we are doing fine economically.” And my answer is you probably are right in your own myopia. Unfortunately 4.5 billion people will go to bed in the dark tonight and 18,000 children will starve to death tomorrow - 1.1 million Darfurians await their extermination at the hands of Islam’s radical administration in the Sudan. But why should you care? You didn’t care when that same administration killed 2 million Christians in the 90’s, so why start now? That is their problem. You “people” that think that way, don’t stand for the “common good” so quit your propaganda and the lies you tell your mirror – you condone murder and genocide and live in a selfless, myopic stupor when it would be so easy to right that ship.

What? Right that ship? Yeah, that’s right. It is all tied up in the “spend or save” equation. I have run some figures. You can get them right here. If just Americans “saved” 15% of their income and invested it for forty years, Americans would multiply their market assets 120 times over and begin to have the kind of capital it will take to pacify the world – to build the institutions and infrastructure that peace demands.

Right now the majority of humanity live in squalor, immobilized by lack of roads and infrastructure, depressed by lack of opportunity and oppressed by totalitarian regimes bent on keeping them enslaved. Something akin to the tax and spenders here – the ones dedicated to keeping the poor poor by encouraging dependency on our semi-totalitarian political class who are anti-individual, pro government types bent on isolating power to control the country in the hands of a few wealthy elites using the anti-corporate card to deceive the people and the “spending-consumption fraud” as their most lethal tool. I have devised the Rise Up Theory of Economics to help us solve the save and spend dilemma. You can read about it here.

Wanted: Book Publisher

I know someone who actually CAN provide the solutions presented below and he has a completed manuscript to prove it (along with a VERY distinguished background). There's no doubt he will find a publisher for this just-completed manuscript, but if you are (or know someone) who is interested in publishing his book, you'll be at the head of the line--just leave a comment below.

• Make the poor rich
  
  
• Deliver the American Dream to even those that can’t compete
  
  
• Honor the capitalist system by using it to solve these many problems
  
  
• Create Personal Accounts for everyone
  
  
• Provide retirement checks that allow retirees to live affluently
  
  
• Force a 15% Savings on citizens at no new cost to them
  
  
• Create wealth by compounding
  
  
• Reduce the National budget by one-half
  
  
• Eliminate $65 Trillion of potential entitlement liabilities
  
  
• Deliver the biggest tax cut in history
  
  
• Give the disadvantaged a reason to live and care about their life
  
  
• Reduce crime, victimization, and dependence on government
  
  
• Reduce stress caused by crime and financial difficulties
  
  
• Eliminate the need of the private sector to finance retirement
  
  
• Make business more competitive by eliminating costs their competitors don’t have
  
  
• Eliminate the union’s need to bargain for retirement funding
  
  
• Solve State and municipal pension concerns and unfunded obligations
  
  
• Energize the economy with an immense injection of capital
  
  
• Teach 50% of Americans about capitalism and stock investing
  
  
• Infect America with the optimism this plan can effect
  
  
• Reduce ethnic and racial tensions by making everyone wealthy
  
  
• An air-tight way to eventually deliver the American dream to everyone
  
  
• Bring back the market to areas convoluted by government intervention
  
  
• Make America the shining light it once was before this dissonance surfaced
  
  
• Get everyone on the same page pulling in the same direction
  
  
• Infect the population with a desire to win and increase stock values
  
  
• Restore America’s confidence in her politicians