The Usual Suspects For The Week
Bye, Bye, Bullpen
It looks like the word ‘bullpen‘ is inappropriate … to someone at least.
Just when you think it couldn’t get any more stupid … it all goes to the next level.
Jerimiah Babe may have the right attitude.
With so many unprepared and focused on the wrong things (like the name of a baseball warm-up area), when the bottom drops out, there’re going to be once in a lifetime investment opportunities.
Gold To Soar … Yet Again
Looks like the boys (and girls) at Kitco are back at it again. Gold is going up for sure this time … honest.
At time stamp 15:08, the female interviewer really puts the screws to her guest.
She does not believe a word he’s saying … so, there’s that.
Meanwhile, back at the ranch, the confiscators may be gearing up for another 1930s style Executive Order.
It probably won’t matter either way.
If you have to show your ‘papers’ to sell gold at the local bullion dealer, what’s the point of owning it?
Escape From New York
Come this Monday, we’re going to see what happens when approximately 25% of a major city’s police, fire and healthcare employees don’t show up for work.
Time to take notes.
Drinking Beer Outside The Liquor Store
Looks likes it’s just a normal thing if you’re in the Ukraine (time stamp 15:08)
In a Knife Fight … No Rules !!!
There are no rules anymore. Bullet item No. 6, below shows the confiscation plans are moving forward.
As a caveat, the financial services industry. i.e. ‘wealth management’, is operating with a paradigm that no longer exists.
One of the objectives of this site, is to offer an alternative to the group-think of wealth managers.
Certification presents itself as an authority figure … just like Fox News presents itself as the alternative.
In fact, those in control own both sides of the narrative.
Does anyone really think FINRA (Financial Industry Regulatory Authority) is going to allow a wealth manager to make his clients overtly wealthy?
Even if that manager knew what to do, he’s hamstrung by regulations like ‘Fiduciary Responsibility‘; effectively guaranteeing the person with the least amount of knowledge (i.e., the client) is in control.
Confiscate The IRA/401K
A topic that has been discussed literally for years by my firm, is confiscation of retirement accounts.
The following is a cut-and-paste from this link which is password protected:
Note the date.
Written over two years ago.
Government To Confiscate IRAs? It’s Easy.
There has been enough time for the American working (and saving) public to take the lessons of the 2007- 2009 meltdown and act accordingly.
One of those lessons would have been to realize just how close they came to having their IRAs confiscated.
Personally, I’m surprised that any of the following links below are still active. Well, who’s looking at this stuff anyway? Certainly, not the general public:
Confiscation of Private Retirement
Even in the Wall St. Journal: Targeting your 401K
After reading several of these reports in 2009 and later, it did not take long for me to set the plan in motion to cash out … completely. I took the 10% penalty, while it’s still 10% and liquidated my accounts (not advice, not a recommendation).
The rest of the population? Not so much.
I think it was Prechter who laid out just how easy it is for the government to seize IRA accounts. It’s basically a two step process.
The market drops 50% to 70%. Remember, the drop from 2007 to the bottom in 2009 was 58%.
Declare a state of emergency (executive order) for the working population and move in to “save” the IRA accounts from more devastation.
The result would involve a stiff withdrawal penalty (say 50%) and to “protect” the accounts from further losses, IRAs can only invest in U.S. Treasuries or Bonds.
End of cut-and-paste
The scenario may not happen exactly as detailed above. The Stew Peters link (repeated here) shows there are several ways to access the IRA accounts (not advice, not a recommendation).
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279