US government will soon seize your retirement account (original title)

[ktlight]

When it comes to your retirement account, you probably keep an eye on Wall Street and the financial markets because when they lose value, your account loses value. Little did you know you are going to have to keep an eye on Uncle Sam as well, because he's eyeing your retirement too, and he could soon take what he will claim is his fair share of it.

If you think that sounds absurd, think again. In fact, it's a concept that is already being used by some governments, the most recent of which is Ireland.

In a bid to finance a "jobs" program, the Irish government, which is heavily in debt, is set to impose a new levy - read "tax" - on private retirement accounts. The accounts of government workers will be exempt.

source
http://www.naturalnews.com/032406_retirement_accounts_federal_government.html

[crosby]

they will do whatever they want to do. i have seen this action firsthand. it is truly sad that all of your hard earned savings will be in the end, for the thieves. in some countries they cut off the hand that steals, in this country, well..........
regards, corson

[Humble Janitor]

When it comes to your retirement account, you probably keep an eye on Wall Street and the financial markets because when they lose value, your account loses value. Little did you know you are going to have to keep an eye on Uncle Sam as well, because he's eyeing your retirement too, and he could soon take what he will claim is his fair share of it.

If you think that sounds absurd, think again. In fact, it's a concept that is already being used by some governments, the most recent of which is Ireland.

In a bid to finance a "jobs" program, the Irish government, which is heavily in debt, is set to impose a new levy - read "tax" - on private retirement accounts. The accounts of government workers will be exempt.

source
http://www.naturalnews.com/032406_retirement_accounts_federal_government.html

Please edit your title. This is a fearmongering title that has no truth to it.

[crosby]

Humble Janitor, i have heard this very report from some of the alex jones interviews. why do you consider it not to be true? admittedly, at the moment, i don't have anything in front of me for support but i trust that such things would not be speculated upon if there wasn't something too it. i will go and dig up some of the info., that i have read and heard and see what we have in the end. deal?
regards, corson

give me a couple of days though, my computer is being such a brat. having trouble watching vids again, and pulling links in. bear with me.

http://www.prisonplanet.com/government-prepares-to-seize-private-pensions.html

http://forum.prisonplanet.com/index.php?topic=68785.0;wap2

http://forum.prisonplanet.com/index.php?topic=197063.0

okay, so my linking worked. these are acceptable articles from acceptable people who have nothing to gain by fear-mongering. i am inclined to believe that any government is capable of doing anything at this point in time. however, only time will tell.

[ThePythonicCow]

Please edit your title. This is a fearmongering title that has no truth to it.
I changed the title of this thread, by adding the parenthetical "(original title)" to it.

The title of this thread came from the article of the Mike Adams (NaturalNews.com) article that ktlight was posting here. In my view, Mike has, shall we say, a flare for writing attention getting headlines.

I have read Mike's articles many times, and I have read widely on matters of economics and financials. But I have seldom read Mike for his economic or financial insights. In my view, that is not his strength.

[ThePythonicCow]

Humble Janitor, i have heard this very report from some of the alex jones interviews. why do you consider it not to be true?
The U.S. Dollar has been King since the end of World War II. All historical examples in that time frame, such as Argentina, of retirement fund confiscation are examples of -other- (not the U.S.) nations being manipulated and controlled by the U.S. (well, by TPTB that also control the U.S.), in order to steal that nations wealth, property and future production.

Dollars are zero cost items to TPTB. The debt and tax obligations that are exchanged for those Dollars are means to the end ... control and ownership.

TPTB don't need Dollars. They use Dollars, to further their ends.

The primary danger I am concerned about with my retirement funds is not confiscation or taxation, though some of that may come. The primary danger I am concerned with is the loss of purchasing power of the U.S. Dollar.

There are two kinds of retirement funds held by Americans (such as myself.) Those funds backed by the full faith and credit of the United States government, and those not so backed. The second kind includes the pension plans of state and local governments and of private firms.

If I was expecting payments from that second kind of fund (not U.S. government) I would be worried that I might simply not receive those payments, as the U.S. federal government continues to take an ever larger role. One of the many ways that the U.S. federal government has to obtain more control is through the collapse of under funded pension plans.

It happens instead that my "pension" is Social Security, a U.S. government funded plan. I expect that the foreign purchasing power of the U.S. Dollar will decline dramatically over the next couple of years (give or take.) As has been happening the last few years, the so called Cost of Living increases in Social Security payments will not keep pace with the actual decline in the Dollars purchasing power. Indeed, these last two years, those increases have been exactly zero. I seriously doubt that inflation (the decline in the Dollars purchasing power) was exactly zero these last two years.

These scare stories of the government stealing pension funds may well apply, at certain times and places, depending on what serves TPTB. But, I say again, TPTB have zero need for U.S. Dollars. A low level clerk can make trillions more of those at any instant, just pressing the Zero key a few more times. TPTB use U.S. Dollars, as a means for control and confiscation. It can be a convenient phase of this theft to get people scared that the government needs more Dollars, so will have to steal a pension fund. There is some stealing going on alright, but not quite like that. Such scare stories become smoke screens for the real heist.

[nearing]

I do not plan on retiring. Those of us born after the BB-boomers, oughtn't think of retiring.

[TigaHawk]

Ahhhh got to love Tax.

I worked each day of the easter holiday's over here in Aus. My normal pay packet is around 2.2 a fortnight. Looked at the payslip today for this pay (which included the extra pay for working the public holiday's) And i was realy happy!

Gross Income 3,451.27


Untill i looked two lines down:

TAX 1,078.00

Net Income 2,277.12


......................


What is the point? Honestly...



I should have been one of the people the local new's stations were trying their best to intimidate/fighten into working those days beacuse they know other people realise that there is no point at all to working those days as every cent goes to the govt as Tax.


And now they want to stick their hands into our Retirement funds?

The elderly here whom get money from the government barely have enough to pay rent and feed themselves.


They recently announced they were spending a few billion to give all Pensioner's a Digital TV Set top Box, valued at allmost $400 a pop.

It's be cause of stupid decisions like this that they allways blow their budget. Then come taking it out on the public with self-righteous speeches about how we NEED to comply for the Good of the Nation, or how we NEED to do things.

Let me tell you, The entire populace of Australia, bar the people making the decisions, have very, very , VERY different views on what we "Need"

God help us.

[crosby]

nearing, i believe it was Alistair Cooke who said "In tomorrow's long lived generation, retirement will be replaced by redirection." i believe he was correct in this assumption. redirection will keep people toiling away, until they die.

Paul, i realize that the loss of purchasing power can be devastating to the dollar, it is evident at this very moment, and you are correct, the ptw do not need our funds, but without them, they lose control. that is something that the general public hasn't figured out yet. the "fear" factor will keep people in constant motion, confused, not paying attention. there really is no rhyme or reason, in my opinion, to why they exist in the first place, except to rule over others. what ever means are necessary to do this will be used. taking a person's pension plan or retirement account puts that person in an extremely dependent and insecure position, makes them angry..... if you make enough people angry, insecure at one time, insurgency abounds. remember, most are still sleeping, they aren't aware that anyone from the government would ever confiscate their funds. it is their way of re-iterating "I Rule."
regards, corson

[Lord Sidious]

Humble Janitor, i have heard this very report from some of the alex jones interviews. why do you consider it not to be true?
The U.S. Dollar has been King since the end of World War II. All historical examples in that time frame, such as Argentina, of retirement fund confiscation are examples of -other- (not the U.S.) nations being manipulated and controlled by the U.S. (well, by TPTB that also control the U.S.), in order to steal that nations wealth, property and future production.

Dollars are zero cost items to TPTB. The debt and tax obligations that are exchanged for those Dollars are means to the end ... control and ownership.

TPTB don't need Dollars. They use Dollars, to further their ends.

The primary danger I am concerned about with my retirement funds is not confiscation or taxation, though some of that may come. The primary danger I am concerned with is the loss of purchasing power of the U.S. Dollar.

There are two kinds of retirement funds held by Americans (such as myself.) Those funds backed by the full faith and credit of the United States government, and those not so backed. The second kind includes the pension plans of state and local governments and of private firms.

If I was expecting payments from that second kind of fund (not U.S. government) I would be worried that I might simply not receive those payments, as the U.S. federal government continues to take an ever larger role. One of the many ways that the U.S. federal government has to obtain more control is through the collapse of under funded pension plans.

It happens instead that my "pension" is Social Security, a U.S. government funded plan. I expect that the foreign purchasing power of the U.S. Dollar will decline dramatically over the next couple of years (give or take.) As has been happening the last few years, the so called Cost of Living increases in Social Security payments will not keep pace with the actual decline in the Dollars purchasing power. Indeed, these last two years, those increases have been exactly zero. I seriously doubt that inflation (the decline in the Dollars purchasing power) was exactly zero these last two years.

These scare stories of the government stealing pension funds may well apply, at certain times and places, depending on what serves TPTB. But, I say again, TPTB have zero need for U.S. Dollars. A low level clerk can make trillions more of those at any instant, just pressing the Zero key a few more times. TPTB use U.S. Dollars, as a means for control and confiscation. It can be a convenient phase of this theft to get people scared that the government needs more Dollars, so will have to steal a pension fund. There is some stealing going on alright, but not quite like that. Such scare stories become smoke screens for the real heist.

Excellent post nugget.
The thing is, most people don't comprehend money, what it is and how it works.

[crosby]

after contemplating this thread overnight, and re-reading Paul's response, i felt that i needed to add some additional information regarding the devaluation of the dollar. a lot of people may not realize that the global economy on all levels, should work on the 'laissez faire' principle. purchasing power is and should be regulated by 'supply and demand'. this is not the case now, and hasn't been for a very long time. why is that? the ptw have been strangling the economy on purpose for their own purposes. so yes, they do not need our money, but they are taking it. why is that? so regarding this "fearmongering", i say, something needs to wake up the masses, and if this particular "fearmongering" doesn't work, nothing much else will. so is it really "fearmongering?" perhaps, but people better get up off their butts and find a new way to provide for their futures and their retirements. the 'price gauging' is going to continue and desperation will indeed transpire.
thanks for making me think a little deeper on this subject.
warmest, corson