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URGENT WARNING: IRAs & 401(k)s are a govt scam!

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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty URGENT WARNING: IRAs & 401(k)s are a govt scam!

Post  Shelby Wed Nov 12, 2008 8:05 am

An urgent warning from Perot, that the US govt is preparing legislation to steal 401(k)s!

http://perotcharts.com/2008/11/save_your_401k/

This just happened in Argentina:

http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE49L5ER20081022?virtualBrandChannel=10338
http://news.google.com/news?hl=en&q=argentina%20retirement%20funds&um=1&ie=UTF-8&sa=N&tab=wn
http://www.google.com/search?hl=en&q=argentina+retirement+funds&aq=2&oq=Argentina+ret



This will give you a clue as to how much of a forward planner and thinker I am.

I wrote this on July 20, 2006:

http://jasonhommelforum.com/forums/showpost.php?p=1147&postcount=1

Shelby wrote:Imho, IRAs & 401(k)s are a govt scam
Even I think the Roth IRA is idiotic.

We've got hyperinflation, huge tax increases, wars, and govt failure coming. Retirement plans lock all your hyperinflated returns (e.g. $4000 will become $40,000 - $400,000 if invested correctly) at least 5 years and to age 59.5 for those of us who you are younger (I am 41). With crazy world coming, one will want to get their dollars out before the dollars become worthless, govt is overthrown, taxes run to 50+%, or any innumerable scenarios coming.

Early withdrawal means not only 10% penalty, but instead of long-term capital gains tax, your dispersement gets taxed at INCOME TAX RATES which could run to 50+% with the baby boomer entitlements and exploding govt deficits.

With capital gains taxes as low as 5% - 15% in 2007-2008, how can the risk of losing everything in a retirement plan compare favorably?

Imho, this is just another plan of the Illuminati to trap us and take our wealth.

Get your $ out by 2008 and into physical precious metals. Get off their system before it is too late.

Shelby wrote:Roth IRA locks you into dollars until age 59.5
http://en.wikipedia.org/wiki/Roth_IR...raditional_IRA

The dollar won't last that long for me, I am only 42 now.

So with Roth IRA, I lock up my astronomical dollar capital gains, unable to get them out of dollars. At some point, you want to hold physical gold & silver, but with a Roth IRA you won't be able to hold these real money free & clear of the govt.

And you can bet your bottom dollar, that the govt is going go steal from those who have wealth, it will be the popular thing to do, because 80 - 90% of people won't have any wealth (will be upside down in net worth, due to debt bubble implosion). The smart money is moving down Exter's pyramid (search forum for "Exter" or "pyramid"). Don't be a lemming.

The cabal promoted these "retirement" (poverty) plans, to keep people locked into dollars. It is a plan to keep the lemmings moving towards the cliff...

...With a Roth IRA early withdrawal, you pay 10% penalty + taxes on capital gains.

So you are paying an extra 10%, plus I expect capital gains taxes to increase i future years, whereas they are historically low right now at 5 - 15%.

So you will actually be paying an extra 10% + the increase in the capital gains taxes.

Not to mention the risk that govt will change the rules on early withdrawals, as 80 - 90% of the population are bankrupt. As a famous bank robber once said when asked why he robs banks, "that is where the money is". When people need wealth, they go where the wealth is to get it...

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Avoiding the ever increasing capital controls

Post  Shelby Thu Feb 12, 2009 3:59 am


Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Re: URGENT WARNING: IRAs & 401(k)s are a govt scam!

Post  Shelby Sun Mar 08, 2009 9:43 pm

http://www.321gold.com/editorials/denninger/denninger030909.html

Tax-deferred accounts will be seized to fund rollovers of Treasury debt at essentially zero coupon (interest). If you have a 401k, or what's left of it, or an IRA, consider it locked up in Treasuries; it's not yours any more. Count on this happening - it is essentially a certainty.

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Start getting out of USA now!

Post  Shelby Sat Mar 28, 2009 12:14 am

http://www.kitcocasey.com/articles/2640/move-your-money-out-of-the-country%E2%80%A6-and-soon/

Money is going to get trapped inside the USA, where it will be nearly useless due to a economy that goes into a terminal socialized malaise, where there won't be anything worth buying, because the govt will overtax and subsidize anything you wanted to buy "cheap". You will be able to sell your gold & silver for things you do not want, which means they will be useless.

Get your metal and assets out the country asap, or at least diversify.

Any one who needs help with vaulting gold and silver secretly outside the USA, email me only if you are willing to pay me about 5% of the investment and 1% per year to manage it. And you will pay a few percent premium over the spot price, and no way to lock in until your money is received. And the vault location is a secret as well. I do not think any of you will be interested, but that is the way it must work. You can look at other options mentioned in the above linked article.

My email: antithesis@coolpage.com

Financial strength of developing markets:

http://www.moneyshow.com/video/video.asp?wid=3435&t=3&scode=013824

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty re: Start getting out of USA now!

Post  Shelby Sun Mar 29, 2009 10:30 pm

http://www.kitco.com/ind/nadler/mar272009A.html

...A small footnote on Mr. Geithner's tour de force in front of cameras. We detected more than a hint of possible capital flow controls in the making. Just a hint...

Shelby
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Post  jack Mon Mar 30, 2009 4:00 am

I had seen that, and in true annoying fashion of Nadler with his stupid wanna be prose.

Capitol Controls, is either a symptom or a control.

I think perhaps would be one of the dumbest moves in history right now for any repair. I can only see further contraction from such a policy.
This would only put fear into the hearts of anyone who has any supply of money. Would send all markets into a frenzy and complete disorganization.

Would cuase a siezure of commerce!!!

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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty not right now

Post  Shelby Mon Mar 30, 2009 11:08 am

Agreed that capital controls will be used when the PTB are ready to slaughter the world economy and/or dehitch the developing world from the west. Will send gold&silver skyrocketing finally, and the americans won't be able to profit from it (as was by design). But I do expect the USA economy to completely fall apart this summer and into Q3. And so by end of year it is a possibility imho.

Vast majority of Americans have yet to feel any real pain. The pain has to come to get them to agree to be "saved" by the new world order.

Let me take a slight difference with you on one nuance. Seems to me that you think the USA is still contributing something necessary to the world economy. I think that is a mirage. USA is actually a parasite and the world economy will do better with it cast off.

Remember the pain is on a daily basis here in 3rd world. Been so for decades. This place can only go up. Philippines is booming. Just took a drive through the provinces. Booming. I don't see any real crisis here. Only the people who have relatives in USA are not getting perhaps but 60% of what they used to, but they are the lazy ones any way. The real economy here is booming.


Synopsis, the PTB are going to screw America really good.


Oh and for a little preview of the way the Chinese will run America, on the drive home from mall yesterday, I saw two recently executed by gunshot to head young men laying along curbside of local subdivision. Deal drugs, use drugs, or do petty theft and that is what happens to you here. The Chinese run Davao City, which is why it is most crime free of any city in Philippines. They don't mess around with the court system. Many Americans will welcome their new Chinese masters with open arms. They will rejoice at the end of criminality (3% of USA adult male population is incarcerated) and other improvements to regulation and social order.

I am not saying I agree. It is 666 direction, red dragon is appealing at first.

US Citizenship used to be the best to have, but remember US Citizens are taxed even if they leave the country (unlike Europeans and other countries), and mark my word, that you will wish one day you had a 2nd citizenship so that you can abbrogate your US citizenship and not without a passport and place to reside:

http://www.gold-eagle.com/gold_digest_08/chapman032709.html

The emperors seemed never to hesitate to deplete their treasury for wars, maintenance of the empire and the lavish way of life of the Roman elite. When money ran out the emperors resorted to taxation to raise the funds necessary to continue. Taxation and monetary debasement kept up the illusion that all was well. Taxes became so onerous, especially to landowners, that small landowners and free men actually sold themselves into slavery to escape taxes. Slaves did not pay taxes. This became such a significant problem that in AD368 the Emperor Valens declared it illegal to sell oneself into slavery. Thus was born the feudal serf.

http://financialsense.com/fsu/editorials/andros/2009/0327.html

...So the size of government is set to INCREASE in the United States by 88% in one year. This is capital destruction and misallocation of resources on an epic scale such as NOAH’S Ark.

These government agencies will descend like locusts on their respective parts of the private sector and the result will be the same: barren fields and destroyed economic harvests.

As former President Ronald Reagan once quipped “The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'” We are all about to get a lesson in the meaning of his comment...

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Obama nation (abomination)

Post  Shelby Mon Mar 30, 2009 8:50 pm

Listen to the "killing tax havens at G20 meeting" from 2 min point forward:

http://www.ft.com/cms/s/0/a0af6234-1c95-11de-977c-00144feabdc0.html?nclick_check=1

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty capital controls coming...

Post  Shelby Mon May 04, 2009 3:07 pm

Another sign:

http://news.yahoo.com/s/nm/20090504/pl_nm/us_obama_economy_taxes

...The plan also would make it harder for individuals to stash money in overseas accounts to avoid taxation...

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Frozen 401(k)s

Post  Shelby Sat May 09, 2009 1:08 am

http://financialsense.com/fsu/editorials/deepcaster/2009/0508.html

...One of many negative consequences of these developments is that investors have not only suffered losses of up to 50% of the value of their portfolios, but also some have not been able to withdraw their funds from their 401(k) retirement plans. Even those who have been laid off have had difficulty. Some unemployed workers have been unable to withdrawal their (401(k)s) funds for many months, as in the article “401(k)s Hit by Withdrawal Freezes: Investors Cry Foul as Some Funds Close Exits; Perils of Distressed Markets” - Eleanor Laise (http://online.wsj.com/article/SB124148012581385199.html).

Deepcaster’s article “Opportunities to Escape Paper ‘Wealth’ ” (11/07/2008) sets forth detailed Guidelines designed to help avoid the 401(k) depletion or freeze up problems. It can be found in the ‘Articles by Deepcaster’ cache at www.deepcaster.com...

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty IRA strategy

Post  Shelby Sat Oct 24, 2009 11:46 am

I see Hommel is just getting around to writing about what I wrote 3+ years ago on July 20, 2006:

https://goldwetrust.forumotion.com/economics-f4/urgent-warning-iras-401ks-are-a-govt-scam-t39.htm#337

Hommel followed up with an excellent strategy from one of his readers!

http://silverstockreport.com/2009/greenspan-misapplied.html

IRA FREEDOM?

I was alerted by more than one reader about:
http://www.checkbookira.com/

Apparently, you can spend your IRA money, and be the custodian yourself, of gold bullion, which you can keep in your own vault!

That's info your current IRA custodian probably does not want you to know!

There might still be risks associated with this plan, if the US government forces IRA holdings to invest in sinking T-Bills, as they have talked about.

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Pensions

Post  Jim Wed Apr 14, 2010 10:37 pm

From www.jsmineset.com:

Argentina seizes pension funds to pay debts. Who’s next?
By Ambrose Evans-Pritchard
Last updated: October 21st, 2008

Here is a warning to us all. The Argentine state is taking control of the country’s privately-managed pension funds in a drastic move to raise cash.

Should we worry about our pensions?

It is a foretaste of what may happen across the world as governments discover that tax revenue, and discover that the bond markets are unwilling to plug the gap. The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice.

Here is a link from La Nacion and another from El Pais for Spanish speakers:

So, over $29bn of Argentine civic savings are to be used as a funding kitty for the populist antics of President Cristina Kirchner. This has been dressed up as an anti-corruption and efficiency move. Aren’t they always?

More…

Jim

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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Roth IRA

Post  Shelby Sat Jul 31, 2010 12:23 pm

Contrary to what I had written in past, there is one exception where we should be using the Roth IRA, and that is if you are close to or older than age 59.5:

http://financialsense.com/contributors/terry-coxen/the-year-of-the-roth

Best to lock in lower taxes now in 2010. The only downside for me is that I am only 45, so if I make withdrawals before 59.5, then add 10% tax. However, that 10% may still be better for me, given I am currently in very low tax bracket (no income lately, just sitting on metal).

However, the govt could confiscate these, but again we could try to anticipate and make withdrawals before they do.

Also I am not sure if we can put metal in a Roth IRA?

Also the amount is pretty small, at $5000 per year. Really doesn't help me enough to justify the effort. If I had realized this 3 years ago, it would have been slightly worthwhile.

Shelby
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URGENT WARNING: IRAs & 401(k)s are a govt scam! Empty Roth IRA

Post  lindalyc Sat Nov 13, 2010 10:12 pm

anybody try http://www.checkbookira.com ?

will it really work?


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