gun forcedIn his latest interview, the Golden Jackass discusses the Obama administration’s move to force retirement assets into the MyRA ponzi fund of toxic US Treasury bonds.
Willie states that the MyRA will be a forced government IRA and will include toxic Fannie Mae mortgage bonds, and like SD’s AGXIIK, he states that private pension funds will be targeted next!

 

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  1. The shear evilness of the MYRA is that it will most certainly force the younger generation into another government ponzi scheme while forcing them to continue to pay into the Social Security war chest which is being depleted more quickly than ever expected.  The youngers will get a double whammy of taxes (SS and Medicare) to pay for the older generation, the Obamacare wealth redistribution insurance premiums, and then the MYRA fiasco which will quickly morph into another monstrosity of forced payments into increasing suspect and ultimately worthless government mandated retirement pools filled with toxic bonds. These will be disappeared just like the ‘trust fund’ that was originally set up for retirees.  All private funds will spiral into the cavernous black hole of government insolvency.
    I listen to the interview with Willie tomorrow to get his take on this evolving mess

    • The most evil part about it is that the majority of Americans are getting so damn poor now that they NEED to believe people like Obama … and with Private Banks being hammered so much for corruption, the masses are becoming even more receptive to the idea of GOVERNMENT INSURANCE of EVERYTHING … Yipes!
      Many people who cannot see the Macro Economic reality of this MyRA scheme will think Obama is doing something purely benevolent … Hopium is addictive … but it only leads to pure Communism, but seemingly the American version which is incremental, not the old fashioned Bolshevik Revolution wham-bam method, but a slow steady diet of Hopium injections by trained actors on the Left and false impotent opposition by trained actors on the Right. Washington is quickly outstripping Hollywood as the Drama capitol of the world. Obama should have got an Oscar, not a Peace Prize.

    • I am more optimistic than that, AG.  Just as the young folks are avoiding Obamunist Care in droves, so too will they avoid this MyRA BS.  They also have a secret weapon that they can use against such things as MyRA… they do not have jobs, so cannot contribute to such a boondoggle, to SS, or to taxes in general.  They have been created by the current regime in DC and they will be the regime’s undoing, mark my words.  They will become an intractable pool of demands for benefits with no possible method of contributing to their funding.  The Gov will, of course, fall all over themselves to get “free” money into these kid’s hands but with no hope of ever getting any taxes back from them.  This is somewhat like a snake swallowing a bowling ball… they can’t barf it up, it’s too big to poop out, and it won’t digest, so they are well and truly f**ked.  Good on ‘em, says I.
       
       

    • Ed_B … “The Gov will, of course, fall all over themselves to get “free” money into these kid’s hands but with no hope of ever getting any taxes back from them”
       
      Uh, oh, Ed … you’re forgetting plank number eight!

      Equal liability of all to labor. Establishment of industrial armies, especially for agriculture.”

    • @WillNotBeASlave
      “…The most evil part about it is that the majority of Americans are getting so damn poor now that they NEED to believe people like Obama …”
       
      This is PRECISELY the plan for this country’s collapse.  AND, why we HAVE NOT YET seen the final COLLAPSE.  We aren’t Poor enough and indebted enough yet to be weakened to the point where we are yet willing to give up the Ole U S of A!  The Globalist plan to weaken the US into a final takeover has, as it’s key component, the COMPLETE obliteration and annihilation the the US people and their wealth.  The goal is to weaken We the People to the point where we are desperate and destitute.  QE was to buy up all the private debt from the bankers (which will be sacrificed in the final capitulation) so that the Federal Reserve (Globalists) will end up owning all the People’s property and force foreclosures after a dollar collapse destroys the People’s ability to honor the terms of these loans and they are forced to default.  The Trillions of wealth of the people in pensions and retirements will be STOLEN (Think MYira) and then, finally, the final engineered financial market collapse will leave Americans penniless and hungry.  Of course, with the discrediting of the US government, (think the deliberate outing of the NSA via the Snowden caper, the capitulation in Syria, the blind fool Obozo and his increasingly obvious lying and his acts of (perceived) incompetence in governance, leading the blind minions in government)  which will be blamed for the entire mess, we’ll see the entry of the IMF and the globalists with bailouts and, lo and behold, the solution to ALL our problems… ONE WORLD Governance will take us in and save us…. and the NWO will have it’s fait accompli.

      The start of the withdrawal of QE is the beginning of the end as liquidity dries up, the economy will further wither on the vine, and as tax receipts fall, the govco will have justification to steal retirements, and who knows what else isn’t nailed down… the stock market will fall and the economic confidence (what?) will decline precipitously and… Wile will fast approach the canyon floor. A SPLAT is in the future.

    • “Uh, oh, Ed … you’re forgetting plank number eight!”
       
      Indeed so, Pat.  I have tried VERY hard to forget all about that intellectually vacuous crap in the hope of setting an example for others to follow.  ;-)
       
      As to plank #8, it did not save the USSR and it won’t save the USSA.

  2. The banksters are finding new and inventive ways of sloughing off mortgage backed securities and saddling the taxpayer with the financial burden.  Jim Willie has a severe case of the Cassandra complex. Doggone just how much will the sheep let these guys get away with? 

  3. When total tax payment on form 941 is submitted monthly, and including employer matching funds of  Social Security, Social Security amounts to more money than Income Tax, in individuals earning under $50,000.00 per year. Which is a catagory most American`s find themselves in. The medicare payment is far below this.
     
    I think the government spends far more money on Medicare and Medicade, than they do Social Security.
     
    So, I believe that we are approcing a point where Obamacare will replace Medicare, and Medicade, thus saving Social Security, and all in Washington will be hearlded as hero`s. I think they may be orginizing the parade right now.

    • heard today gov is predicting a smaller workforce due to a lot of retirees with obamacare coming out, and due to those on the gov dole but close to thresholds refusing to work more at risk of losing gov benefits… i about drove into the ditch.

    • Yeah, Mike, things like that are difficult to hear when driving.  Something else I heard was a replay of the audio clip where Obama repeats the stupidity that “The Affordable Care Act isn’t having any impact on employment, like a lot of folks said that it would”.  WHAT?  Is he insane?  There are MANY stories coming out weekly if not daily about what this or that company is doing to their employees in order to avoid Obama Care.  These are not just a few stories here and there but a massive and pervasive effort on the part of virtually ALL small and mid-sized business as well as some large businesses.  Only someone who is completely mired in denial would offer such an idiotic statement that is so contrary to the facts.
       
      Something else that Obama did not see coming is that lots of our best Docs, those in their 50s and 60s who have a great deal of medical experience, are now choosing to retire rather than put up with the intrusive B$ that Obama Care requires.  We don’t have enough Docs to treat the 30M additional patients that this misbegotten program was supposed to bring into our health system if ALL of the Doc stay on board.  How are we supposed to handle the patient load if 10-15% of them give up and retire?  I have no idea and suspect that I am not alone in this.  If this continues, we will soon start seeing stories about people dying while they are waiting for their “affordable care”.  Unless they are all hushed up, of course.
       

  4. MYRA is a Sick Debt Serf Stockholm Syndrome Socialist System  set up by a Stasi government,   fiscally, morally and psychologically bankrupt. 
    Our goverment is no different than any that came before it.
    They craft FIAT honey traps for the unwary, start up the  eastward-moving conveyor belt, transfering what little wealth the people accumulated, straight into the belly of the beast. 
    China gets it.  Gold goes east where it’s appreciated Debt goes west.
    There are  ONLY TWO types of governments
    1.  THOSE WHICH ARE REPRESSIVE
    2.  THOSE WHICH ARE BECOMING REPRESSIVE
    Any other else is kiddie school

  5. My take on Jim’s dissertation and MYRA
    The MYRA holder, invested into 3% treasuries, forced or voluntary, with an 8% inflation world,  is an investment killer—plain and simple. A desperate furtherance of the Empire of Debt that started hundreds of years ago.
    We are DNA-enabled to believe in and obey our governments. That’s a genetic flaw that leads to death and despair.
    MYRA tax burden is 50%.
    MYRA is a FIAT-based false currency, created in debt, invested in debt with no end in sight.
    This is the Federal Reserve equivalent of a Chinese laundry
    Lather rinse and repeat
    Throw in CEDE&CO and sooner or later you have ‘No tickee, No Treasury’
    Ask any person holding a pension or pension bonds in Spain, Hungary and Poland how that worked out.
    Einstein said the most powerful force in the universe is compound interest. 
    The MYRA is a fraudulently coerced and created wealth redistribution retirement plan. It is the ideal corrolary to Einstein’s statement
    Create currency at interest at its source. 
    Distribute it through wages.
      Extract 50% in taxes. 
    Extract MYRA funds, whether voluntary or via NDRP.
    Invest in the same debt that created the same currency that forces compulsory MYRAs
    Tax income from the MYRA at 50%. 
    At death the MYRA rotates to the government to extinguish the MYRA and its attached debt. 
    3% interest at source. 50% taxeson wages. 50% taxes on MYRA returns. 
    The MYRA interest is paid by more MYRA funding of UST debt.
    Lather rinse and repeat
    When things get serious, start lying.  When things get really serious, start stealing
    Things are getting really serious
    When the government announces something like the MYRA, this is the tipping point.
    Come into my parlor said the spider to the fly.
    The poop is going to hit the fan soon.  But not before the MYRA is fully in place
    The government is in desperate need of our money. 
    MYRA is like a 1 trillion card version of 3 Card Monte.
    Nope, nothing under that card.
    Here’s another trillion cards. (Y)our money is somewhere in that pile.
     

    • @AGXIIK
       
      “The government is in desperate need of our money.”
       
      They are?  Now, why would those with a printing press need OUR money?  If I had a printing press, I would not need a centavo from ANYONE else.  Ever.  Just roll the presses when needed.  Instant money… well, currency, anyway.
       
       

    • @Ed_B
      “…Now, why would those with a printing press need OUR money?”
       
      1.)  They need the sheeple to feel increasingly helpless and destitute…   (See above reply near the start of the comments here)
      2.)  The printing press creation has to show up as an offsetting liability on their books while money taken from the people directly is, essentially free and without the corresponding liability on this ledger.   It’s why Bernanke’s helicopter couldn’t just fly over neighborhoods and drop FRN’s in the people’s yards.  That money had to go into the banking system reserve maw… and, of course, the banks were bankrupt too, which offered a further inducement to forego making the people’s lawns just a little greener!
       

    • @Sovereign Economist
       
      “1.)  They need the sheeple to feel increasingly helpless and destitute…  “
       
      Yes, there IS that… taxation primarily as a control mechanism.  It is noteworthy that almost all of the VERY wealthy families in the US became rich in the years BEFORE an income tax was applied.  Yes, a few have done so since then too but they are few and far between.  Virtually everything governments do involves exerting control.  Unlike them, I am aware of the fact that “control” is an elusive fiction… a fantasy that is pursued by those who simply do not know any better.
       
      “2.)  The printing press creation has to show up as an offsetting liability on their books while money taken from the people directly is, essentially free and without the corresponding liability on this ledger.”
       
      I figure that as handy as these people are with “creative accounting”, they can make the books show virtually anything they want them to show.  Fiat currency isn’t real money, after all, so they feel free to play all manner of games with it that they could never do with hard money.  Until a Star Trek style replicator comes along, no one can print gold.
       

    • @Ed_B
      “…It is noteworthy that almost all of the VERY wealthy families in the US became rich in the years BEFORE an income tax was applied.”
      That’s how the game was rigged at the time… when they implemented the graduated income tax. the elites forced their competitors to raise competing capital with the added burden of an income tax to hold them back while these elites created the Tax-free Foundations,  The Rockefeller, Carnegie, Ford and a few other foundations were all set up as tax dodges right as the income tax was passed to allow the crony-capitalist elites to scotch their profits away into these foundations tax-free and keep their competitors from ever being able to raise money on a par with them….

      To add insult to injury, these bastards billed these foundations as charitable foundations good for the community in their grand spirit of giving…. to the causes that would help build the globalist one-world government momentum for the next 100 years! Bastards… but ‘clever’ bastards at that!

    • @Sovereign Economist
       
      Interesting point on how the income tax was used as a competitive weapon against others, SE.  I hadn’t thought of it from that angle.  I knew about the family foundations and how great wealth had been hidden in them.  The family members control the foundation, dole out a little for charity, and have FULL control of that wealth and how it is distributed.  They distribute a lot of it to themselves, of course, and no doubt there are MANY tax breaks all along the way.  The HUGE tax break of hiding the family money in the foundation / trust was only the beginning of that gig.  These are the American version of royal dynasties.
       
      “Bastards… but ‘clever’ bastards at that!”
       
      Indeed.  We all know that most of these people are SOBs but stupid SOBs they are not.  Underestimating them in any way would be a very foolish move on our part.

    • @Wendy
       
      Indeed there are, Wendy, and more of them come into the world daily.  It is unfortunate that one can still qualify to vote in spite of one’s foolishness.
       

  6. EdB I have a sense that the younger generation is sensible to a certain degree.  But they are trapped in glue of personal debt, low wages, more government costs like Obamacare which will impose fines for non compliance.  35% of youngsters are still living with parents.  50-75% are doing jobs that don’t require a degree.  If they see the trap and avoid it good for them. If they have no discretionary income they won’t buy into MYRA and Obamacare.   The payroll deductions that are extracted from all workers and business owners is dropping, as noted by Jim Willie.  The revolution that will occur and must be prevented or delayed, when SS and SSI goes broke due to an insufficient number of plantation tax gulag slaves to support it, makes the MYRA just another government confection that will cover up the disgrace of SS system. 
    Another Ponzi MYRA retirement funding scheme to paper over the last retirement Ponzi scheme. 
    Unlimited Printing is a great way to continue the paradigm so long as there is a conveyor belt of fresh young warm bodies to feed it. IMO that is one of the Matrix system that faces us.   There are many ways a young person can get trapped in this Brea tar Pit of taxes.  Owed or imputed taxes, fines, regulations, student loans, subprime auto loans, subprime mortgages being waved around to trap the unwary via the Fed’s purchase of the CCC- mortgage trances, are all ways to get the younger generation further trapped in the mesh of government control. The system must survive at the cost of the younger generation. Old vampires need fresh blood.

    Legal marijuana is a growing trend that bodes well for the youth.  A soporific that reduced motivation while the state extracts 25% tax rate on the MJ is a perfect example of this doping of the citizenry, making them more compliant while social media is worked behind the scenes by malevolent government agencies who can data sift every on-line account to judge and evaluate the individual thoughts, needs, desires and requirements of the younger generation. 
    This is a massive plan of control of a generation that should be rioting in the streets, throwing off the traces of government control  Our youth used to engage in civil disobedience, rioting and protests to turn the course of the country.   That can no longer be permitted. So the education system over the last 40 years was ramped up to thought control, rote indoctrination, big pharma drugs forced on kids, poor food choices, government debt, impoverishment of the parents, self serving teachers union, fol big city schools, student debt, the lure of big ticket jobs that never materialize and the crushing of the spirit by non-delivery of promises made to the kids by the entire establishment. 
    The young people in other countries are taking to the streets by the tens and hundreds of thousands, protesting violently against a system that has crushed the economy with debt and goverment control. Youth unemployment is 50-60% in other countries. It’s maybe 50% here.
    The kids in this country are sitting by placidly, believing the promises of their slick talking’leaders’ that all will be good. Social Media dulls the senses and rides the theme of thought control, promising the younger generation will be freer by way of their electronic toys when those same toys are just another means to control their thoughts with mind control porn, vapid entertainment and the systematic processing of preferences through Angry Birds.   Slavery is Freedom, or so the saying goes.
    I think the government will soon see that the young people are not buying into MYRA. The mathematically challenged will not have the money to invest. The Illiterate will not buy into it because they can’t read. The thoughtful ones will shun it for the fiscal tar pit that it is. Thus it will become forced extractions, like Obamacare. It will be coupled with the payroll taxes, creating further financial penury of the youth. Their future is grim if this system continues

    • @AGXIIK
       
      “The system must survive at the cost of the younger generation.  
       
      Does it?  If the system didn’t suck warthog hiney it would not be in the terrible fix it is now in.  It has to be saved?  WHY?  What is there about it that is so good that it MUST be saved?  A bullet to its forehead would be far more merciful, IMO.
       
      “Old vampires need fresh blood.”
       
      That they do and the best way to starve the b@st@rds is to not comply.  They cannot tax someone who does not work. The idiotic policies of the current regime in DC is making this not only desirable but EASY.
       
      “The kids in this country are sitting by placidly…”
       
      Just drop their comfort level a few notches and you will see all the rampaging you want.
       
      “Thus it will become forced extractions, like Obamacare.”
       
      Good.  I hope that will be the case because if it is, that will be a terrific sign that it is dying and flailing about wildly in an effort to revive itself from its death throes.  Obamunist Care is not a done deal.  To know it is to hate it and people are learning more about it on a daily basis.  As I have said before, the American people can be led but they cannot be pushed.  We hate being pushed and it isn’t long before we push back.  Hard.  Obamunist Care will survive Obama but not by much.  I expect the same for MyRA… yet another lib fantasy that isn’t worth warm spit on a hot day in the real world.  Yes, like market fundamentals, reality eventually expresses itself no matter how many people are ignoring it.
       
       

  7. EdB  I forgot the response to your comment about why a government that can print to infinity would want our money
    With this government there is never enough FIAT.  Their wants and needs are unlimited
      WIth some of the highest tax rates in the last 30 years including state, local and federal extractions it’s never enough.
    With $1 trillion in fresh new debt it’s never enough
    With $200 trillion due in the next 30 years, all debt financed, it’s never enough
    Printing AND debt is the way of this government and has been since 1970.

    • @AGXIIK
       
      “Their wants and needs are unlimited”
       
      Herein lies the crux of the issue, IMO… wants vs. needs.  At some point, these idiots will come to understand that their fantasy world wants and the real world needs are diametrically opposed.  One of them HAS to end and it won’t be reality.
       
      “WIth some of the highest tax rates in the last 30 years including state, local and federal extractions it’s never enough.”
       
      No, it isn’t.  In fact, it has been shown mathematically that if the Fed Gov confiscated 100% of the wealth in this country, it STILL would not be enough.  How long will it be before these idiots recognize the obvious?  That spending is VASTLY beyond what can, let alone should, be done?  They are stuck in a mode that says, “If we can conceive a need, it MUST be filled!”.  This is not part of reality and it never can be part of it.  But that’s the thing about those who are not rational.  They do not recognize reality when it confronts them.  Instead, they continue to try to subvert it with their politics and their policies when reality doesn’t give a flaming damn about their fantasies.
       
      “Printing AND debt is the way of this government and has been since 1970.”
       
      Indeed… and it will likely be its end as well.  Government has reached a toxic level in the US these days.  This is why the economy is so sick.  We can afford to create EITHER a massive economy OR a massive government and we have chosen poorly.  So, given that, let’s not waste any time moaning about it.  Instead, it is time to roll up the sleeves and prepare for its collapse.  The good news is that we will very likely end up with a MUCH better system once all of the current nonsense is swept away and some real economics is finally learned.  The bad news is that sweeping changes like this tend to be long, bloody, and painful.
       

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