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Reply With QuoteHopefully we can hold them off for about 6 more months, that will give me time to roll my TSP into my IRA after retirement. :-)Originally Posted by Valkyrie
Your TSP and the so-called debt ceiling
even more reason to stop putting money into TSP account
On Poland and Detroit. Not For the Faint of Heart. | Barnhardt
I read about these plans first during Clinton's first term. since then i have done the 5% matching and that's it, the rest goes to private accounts. Now it looks like it might be time to stop the 5% also.
"As I have written recently, the Obama regime is already using pension money to manipulate the so-called debt ceiling, namely the Thrift Savings Plan money, which is the government 401(k) equivalent for government employees, government retirees and the U.S. military. Yeah, all of these US military officers who are “going along to get along” so they can “make it eight more years until I get my pension” are chasing money that is already gone. Morons. The regime has already taken it, and all that is sitting in those accounts are worthless IOUs issued by neo-Stalinist oligarchs. They’re just too uninformed and deluded to understand this. This is why the national debt figures published by the government have not changed in months and months. They are using the TSP money to fraudulently offset public debt on the balance sheet."
The regime has been fairly open about its plans to “nationalize”, read CONFISCATE, this collateral and implement a system of “mandatory retirement savings accounts”, which will be just another confiscatory redistribution into the hands of the oligarchs and their cronies. This what Poland just did. This is what MF Global was in its essence. This is what Cyprus was, except the Cypriot confiscation was done to demand deposit accounts instead of retirement accounts, which is now termed a “bail-in” – but it is all of the same stripe, namely the utter destruction of the notion of private property and the redistribution of all wealth into the hands of the oligarchs. In Poland, the private pension paradigm has now also been destroyed because no one will want to put money into a private pension after this knowing that it can and will be stolen by the government at any time with zero redress.
"Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798
Re: Your TSP and the so-called debt ceiling
Hopefully we can hold them off for about 6 more months, that will give me time to roll my TSP into my IRA after retirement. :-)
Re: Your TSP and the so-called debt ceiling
I think I should draw my TSP out buy gold and bury it in my backyard in Mason Jars.max.gif
Re: Your TSP and the so-called debt ceiling
Careful now folks...
The 'Private' pension fund in Poland was - apparently - guaranteed by the gubmint. Only your 'G Fund' is 'guaranteed' by our gubmint. Our gubmint can only play with 'G Fund' assets - and they have been. Your pension can - and is - managed by our gubmint. And, it is guaranteed by the gubmint. Thus, they can 'manage' it. I don't trust politicians of any stripe in the management of my assets.
I do not trust the goobers we vote for (all aged lawyers who have no idea of finance) at all. But, we have to know what we are talking about. My best advice is to keep your assets in the private sector as best you can. My thought is that the gubmint will make a land grab - they have already securitized ALL of your 'G Fund' assets. These are the games 'investors' and private sector businesses did just before the Roaring Twenties became The Great Depression. I think our Federal Gubmint will be the entity that gets 'adjusted'. Did anyone see how the general public (the private sector) just demanded - I say demanded - that the sequester be stopped. Folks, nobody cared. And, nobody will care if non-essential gubmint gets shut down. This ain't the 90's...
Regardless, your F/C/S/I assets (including the allocation in the Lifecycle funds) cannot be folded, spindled and mutilated by the mama (dearest) state. Your external assets have the same legal 'protections' as your F/C/S/I assets. No difference, and if sued by some slug maybe a big difference.
If you do not invest in your retirement do not expect me to care about you in your doting old age. I am a GenXer. If you think I will gladly accept (or vote for slimy politicians who want me to shed tears) for higher taxes to cover your decision to live off the gubmint guess again. You may get it, but it will be a fight.
Lookin' up at the 'G Fund'!!!
Re: Your TSP and the so-called debt ceiling
By the way folks...
How funny would it be for us to move all of our 'G Fund' assets - that have been completely securitized by the Treasury - back into F/C/S/I.
That would wipe out the assets they have used as collateral on which to borrow funds.
How funny would that be. Hopefully, the private sector correction we have all been waiting for happens soon and I can do my part. What a smack that would be. We would then see just how liquid those guaranteed G Fund assets really are
Lookin' up at the 'G Fund'!!!
Re: Your TSP and the so-called debt ceiling
By the way, there is a Debt Ceiling...
We just don't know where it is.
But, Portugal, Ireland, Greece, Spain, Italy, France, Cypress, Egypt, and now - apparently - Poland have found it.
We do not want to find it. It is where our gubmint debt is no longer purchased for an interest rate we can afford. And, remember, our FED is buying lots of our debt. Maybe we have reached it and are living blissfully in ignorance. Hope we gubmit employees have valuable skillsets.
Lookin' up at the 'G Fund'!!!
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