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

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...

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.

...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...

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.

...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...

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

...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...

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.