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| Europe |
| Europe Considers Wholesale Savings Confiscation, Enforced Redistribution |
| 2014-02-14 |
| [ZEROHEDGE] |
| Posted by:Fred |
| #18 they already floated a plan to "borrow" the money in your volatile 401K for a Gubbamint guaranteed return |
| Posted by: Frank G 2014-02-14 21:14 |
| #17 Nope - I think the next step is to create a 'Financial Crisis' which can be blamed on Wall Street. Then comes 'ObamaInvest' much like 'ObamaCare' but for investments and all IRA, 401K's and Pensions must now meet stringent guidelines which boil down to 'invest only in Government managed investments or pay a substantial If you like your IRA, 401k, or Pension - you can keep it. It just won't be there when you need it. |
| Posted by: CrazyFool 2014-02-14 17:24 |
| #16 Step 1: create an retirement vehicle that only invests in the GIVERnment. This was proposed by Obama in the state of the union. Step 2: tell all brokerage firms to divest IRA and 401k into new retirement vehicle. Penalties for early withdraw will be 100% tax. Retroactive to January 1, 2014. Half way there. |
| Posted by: Airandee 2014-02-14 16:39 |
| #15 Looting = Marxism * Time |
| Posted by: Bright Pebbles 2014-02-14 13:26 |
| #14 You can do this once. It is literally killing the golden goose. You will feast for a night, then starve. As such, it is nothing more or less than an admission of failure of the welfare state. It is a primitive and ultimately ineffective parasite which kills its host. |
| Posted by: Iblis 2014-02-14 13:23 |
| #13 The problem OE is that Free Market Capitalism is not conducive to atocratic control. The terminology is screwed up now-a-days. The market is far from free. Cronyism, rent seeking, corporate welfare and unbounded power grabbing are not a Free Market. TBTF means that the gov't has to take over. Privatize profits and socialize risk, THAT'S now the American way. |
| Posted by: AlanC 2014-02-14 12:21 |
| #12 Bottom line, socialism is a failure. Capitalism and Free Enterprise is where miracles happen if you work. Read here that American GDP is twice or more than other parts of the world because Americans are more productive. Genuine capitalism requires being productive. Or you starve or go on socialist welfare which is always little or nothing in comparison to being or working for a Capitalist. |
| Posted by: Omavising Ebbemp9815 2014-02-14 11:39 |
| #11 In the 1930's there was very little work. Folks walked along the railroad tracks picking up discarded spikes and plates in the 1930's to sell as scrap iron. Any guesses as to where much of that iron eventually turned up ? Japanese Battleships. - ten prewar Battleships Name Tons Comm Guns Sunk By Where Kongo 32,250 1913 4x2-14" 21Nov44 SS-315 off Formosa Hiei 32,250 1914 4x2-14" 13Nov42 TG 67.4;Air Guadalcanal Kirishima 32,250 1915 4x2-14" 15Nov42 BB-56 Guadalcanal Haruna 32,250 1915 4x2-14" 28July45 CV TF-38 Kure Fuso 35,900 1915 6x2-14" 25Oct44 BB TF-77 Surigao Sea, Leyte, P.I. Yamashiro 35,900 1917 6x2-14" 25Oct44 DD, PT Surigao Sea, Leyte, P.I. Ise (BBV) 36,500 1917/43 (6)4x2-14' 28July45 CV TF-38 Kure Hyuga(BBV) 36,500 1918/43 (6)4x2-14" 24July45 CV TF-38 Kure Nagato 38,500 1920 4x2-16" 18July45 CV TF-37,TF-38 Yokosuka Mutsu 38,500 1921 4x2-16" 08June43 magazine explosion Hiroshima Yamato 64,000 Dec 1941 3x3-18" 07Apr45 CV TF-58 Suicide mission to Okinawa Musashi 64,000 Aug 1942 3x3-18" 24Oct44 CV TF-38 Sibuyan Sea, Leyte, P.I. |
| Posted by: Besoeker 2014-02-14 09:57 |
| #10 Back in the 1930's the US government essentially seized private holdings of gold, and this seizure was ratified by the US Supreme Court. Is there anyway to cash in my IRA funds and get them to a safe place? And the family laughed at grandfather hiding money in the mattress or old mason jars. |
| Posted by: Procopius2k 2014-02-14 09:42 |
| #9 Interestingly, civil disobedience seems to be active with Connecticut gun registration law. Here. and here. |
| Posted by: JohnQC 2014-02-14 08:09 |
| #8 Look for someone to try to pull that off here in the U.S. |
| Posted by: JohnQC 2014-02-14 07:59 |
| #7 Is there anyway to cash in my IRA funds and get them to a safe place? I figure that my hard earned funds won't be there when I need them in a year or so. If the gov't steals all savings it's time for us to make use of the 2nd. |
| Posted by: AlanC 2014-02-14 07:28 |
| #6 I'm betting this doesn't apply to the Rothchilds, Soros, et al. |
| Posted by: ed in texas 2014-02-14 07:23 |
| #5 The public sector work force, much of the law profession, grant and subsidy recipients - all of them will do literally anything to keep the gravy train of magic checks coming. By that, I mean ANYTHING. Confiscating saved wealth of private citizens is just the beginning. The next step will be herding private citizens off to be tortured to death in concentration camps, if they feel they can get away with it. All these years of focusing on welfare recipients got us off the trail of the real problem. Yes, the bloated welfare class is a bad thing. But the far greater danger is the government apparatus that maintains people in that state in order to "justify" an income doing something unproductive where they don't have to work very hard and can retire early. A similar dynamic has occurred with the regulatory environment. The regulations are bad, true, but the people in that industry are the real danger. How much money actually goes to the end user and how much stays in the pockets of toes who populate the government infrastructure of the welfare state? All of the people forming that infrastructure would send private citizens to the Ted Kennedy Memorial Reeducation Kamp to die of slave labor if in the process nobody touched their precious government funded income stream. Your local community college professor, the mousy public librarian who lives on your street, the local 911 dispatcher, the shovel-leaning public works guy, the paper shuffling mid level bureaucrat at NMFS or HUD or NASA, all of them and more, would literally kill you to live in comfort off of wealth stolen from you that you worked so hard to produce. If you believe otherwise you are fool of the highest order. The fact that it hasn't happened (yet) here doesn't mean that it never can. Confiscating the money you have saved is only the first step. |
| Posted by: no mo uro 2014-02-14 05:47 |
| #4 Champ's so-called "income inequality" theme and his new Obamacare and MyRA investment schemes finds their roots in a parallel effort of redistribution. It's not about healthcare or individual investment, it's about seizure. They've already herded everyone out of the banks and into the stock market through low or essentially no interest disincentives. These leftist, give-away governments are all flat broke. Their desperation and willingness to do anything [wars, crisis, foreign meddling, fabricated ecological disasters] to divert attention and remain in power is quite obvious. I fear them, both their pen and their phone. |
| Posted by: Besoeker 2014-02-14 04:53 |
| #3 First they came for private saving --- but I didn't care because I've no savings. |
| Posted by: g(r)omgoru 2014-02-14 04:39 |
| #2 Back in the 1930's the US government essentially seized private holdings of gold, and this seizure was ratified by the US Supreme Court. |
| Posted by: Anguper Hupomosing9418 2014-02-14 00:34 |
| #1 Communism/Organized Crime, what ever you want to call the desperation of government spending, out of control, trying and trying to create a Utopia that for some reason is always just out of reach. And the people just roll over. Europeans have always laid their throats bare to such leftist governments. This is the very sad state so called progressives are dragging America towards, also. |
| Posted by: Omavising Ebbemp9815 2014-02-14 00:23 |