Comments on: Will the commercial paper facility work? Just google “pushing on a string.” http://sovereignspeculator.com/2008/10/07/will-the-commercial-paper-facility-work-just-google-pushing-on-a-string/ Thoughts on the markets and the decline of the west Tue, 15 Nov 2011 23:03:04 +0000 http://wordpress.org/?v=2.6 By: Mike http://sovereignspeculator.com/2008/10/07/will-the-commercial-paper-facility-work-just-google-pushing-on-a-string/#comment-610 Mike Tue, 21 Oct 2008 22:43:26 +0000 http://sovereignspeculator.com/?p=1642#comment-610 Yup. I thought the same thing when I saw that. Yup. I thought the same thing when I saw that.

]]> By: Brian http://sovereignspeculator.com/2008/10/07/will-the-commercial-paper-facility-work-just-google-pushing-on-a-string/#comment-608 Brian Tue, 21 Oct 2008 21:41:59 +0000 http://sovereignspeculator.com/?p=1642#comment-608 RE: the long-term security of IRA's, etc: If you read RGE Monitor, you might notice that today they had a bullet-point list of various articles and commentary on the government of Argentina's potential plans to take over private pension funds and roll them over into the national "Pay-as-you-go" pension scheme. Seems like a likely scenario here too. Good old Uncle Sam (or rather, the vermin who are basically animating his corpse for their own profit) would seize pension funds, IRAs, 401-Ks, Keoghs, etc - roll their assets into Social Security - and of course just burn through the actual assets and replace them (as they've essentially done with the funds that are supposed to be in the social security system) with a big post-it note with "IOU $$$$$$$$$$$$$" written on it". Kind regards, Brian RE: the long-term security of IRA’s, etc:

If you read RGE Monitor, you might notice that today they had a bullet-point list of various articles and commentary on the government of Argentina’s potential plans to take over private pension funds and roll them over into the national “Pay-as-you-go” pension scheme. Seems like a likely scenario here too. Good old Uncle Sam (or rather, the vermin who are basically animating his corpse for their own profit) would seize pension funds, IRAs, 401-Ks, Keoghs, etc - roll their assets into Social Security - and of course just burn through the actual assets and replace them (as they’ve essentially done with the funds that are supposed to be in the social security system) with a big post-it note with “IOU $$$$$$$$$$$$$” written on it”.

Kind regards,

Brian

]]> By: Mike http://sovereignspeculator.com/2008/10/07/will-the-commercial-paper-facility-work-just-google-pushing-on-a-string/#comment-342 Mike Wed, 08 Oct 2008 03:18:08 +0000 http://sovereignspeculator.com/?p=1642#comment-342 Brian -- You're ahead of the curve. Who knows what new confiscatory schemes and post-hoc rule changes they will come up with? These tax-free accounts will probably be compromised at some point, possibly starting with the mandate that some or all of the assets be invested in Treasury debt, just as that market starts to tank. Or how about PC asset allocation schemes: 20% must go to green energy, or no investing in Chinese companies? Personally, I decided to take the tax hit and cash out. Brian — You’re ahead of the curve. Who knows what new confiscatory schemes and post-hoc rule changes they will come up with? These tax-free accounts will probably be compromised at some point, possibly starting with the mandate that some or all of the assets be invested in Treasury debt, just as that market starts to tank. Or how about PC asset allocation schemes: 20% must go to green energy, or no investing in Chinese companies?

Personally, I decided to take the tax hit and cash out.

]]> By: Brian http://sovereignspeculator.com/2008/10/07/will-the-commercial-paper-facility-work-just-google-pushing-on-a-string/#comment-341 Brian Tue, 07 Oct 2008 20:53:30 +0000 http://sovereignspeculator.com/?p=1642#comment-341 Expanding on the theme of the government taxing and spending what little wealth and savings are left: I've been contemplating something that I've yet to see anyone comment on or suggest: How long will it be before the government starts to tax IRAs, 401-Ks, and Keogh plans, etc? For some time, sensible, thrifty, and hardworking Americans have been ferreting away fairly sizeable sums of money into these tax-exempt or tax-deferred vehicles. I would imagine that as the state drains the blood out of every other potential source of revenue, these pools of wealth will begin to look more and more appealing. And I imagine it would be a simple affair to actually convince the boader public (i.e. all of the spendthrifts and layabouts who have not made use of these retirement instruments) that the people who have are somehow greedy, uncaring SOBs who refuse to contribute their fair share to the common cause. Thoughts? Kind regards, Brian Expanding on the theme of the government taxing and spending what little wealth and savings are left: I’ve been contemplating something that I’ve yet to see anyone comment on or suggest: How long will it be before the government starts to tax IRAs, 401-Ks, and Keogh plans, etc? For some time, sensible, thrifty, and hardworking Americans have been ferreting away fairly sizeable sums of money into these tax-exempt or tax-deferred vehicles. I would imagine that as the state drains the blood out of every other potential source of revenue, these pools of wealth will begin to look more and more appealing. And I imagine it would be a simple affair to actually convince the boader public (i.e. all of the spendthrifts and layabouts who have not made use of these retirement instruments) that the people who have are somehow greedy, uncaring SOBs who refuse to contribute their fair share to the common cause. Thoughts?

Kind regards,

Brian

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