Old Project Avalon Forum (ARCHIVE) - View Single Post - Insider-Bank Of America-Next Bank That Will Fail ~ BOB CHAPMAN

peaceandlove · 11-02-2009, 06:12 PM

Good Banks Fed Toxic Waste And Turned Into Zombies

Posted: October 31 2009
BOB CHAPMAN

Punishing you for going into your 401k early, Flight destinations curtailed, more powers for IRS, toxic waste fed to banks, mortgage dollars are going delinquent faster than mortgage dollars are being create, interconnectedness of markets threatens banks around the world, Fed involved in more moral hazard,

We were afraid something like this might happen, if this legislation is passed the next step will probably be something even more onerous. As you know congress has heard testimony about rolling retirement plans into Social Security. Although we don’t know that that will happen but what the Senate is doing could be a first step in that direction. We know that most of you cannot get out of your 401k without losing your job. So you don’t have much choice. Those who have 401k’s that are self directed, because they left or were forced from their employer they might consider paying the taxes and penalty if applicable. This is not a good development.]

Continues: http://www.theinternationalforecaste...d_Into_Zombies

11-02-2009, 06:12 PM	#2
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: Insider-Bank Of America-Next Bank That Will Fail ~ BOB CHAPMAN Good Banks Fed Toxic Waste And Turned Into Zombies Posted: October 31 2009 BOB CHAPMAN Punishing you for going into your 401k early, Flight destinations curtailed, more powers for IRS, toxic waste fed to banks, mortgage dollars are going delinquent faster than mortgage dollars are being create, interconnectedness of markets threatens banks around the world, Fed involved in more moral hazard, We were afraid something like this might happen, if this legislation is passed the next step will probably be something even more onerous. As you know congress has heard testimony about rolling retirement plans into Social Security. Although we don’t know that that will happen but what the Senate is doing could be a first step in that direction. We know that most of you cannot get out of your 401k without losing your job. So you don’t have much choice. Those who have 401k’s that are self directed, because they left or were forced from their employer they might consider paying the taxes and penalty if applicable. This is not a good development.] Continues: http://www.theinternationalforecaste...d_Into_Zombies