As the crisis goes on and one, deeper into the black pit money hole, the government will be tapping Pensions. That is first stop. Next stop is 401ks and other retirement funds. They will probably do this by raising the amount of taxes you pay when you cash out. Just saying. You're better off cashing out your 401ks and buying phyzz silver at these bargain prices of 35.
Just my opinion. Time will tell.
=====
Treasury Confirms Debt Ceiling To Be Breached Today; Will Tap Pension Funds
http://www.zerohedge.com/article/treasury-confirms-debt-ceiling-be-breached-today-will-tap-pension-funds
It's official: the US credit card has officially been maxed out, just as we predicted on Wednesday, and througout Q1 and Q2. The United States is expected to reach the legal limit on its debt later on Monday and will start dipping into federal retirement funds to give the country more room to borrow, a Treasury official said. As Reuters reports further, The U.S. Treasury will settle $72 billion in maturing bonds on Monday, which will push the country right up against its $14.294 trillion borrowing cap, the official said. To all those who thought only the insolvent government of Ireland will plunder pension funds, our condolences.
======
z
No comments:
Post a Comment