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Old 09-29-2012, 01:47 PM
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Default What happened to my pension fund?



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As long as Wall St continues its business as usual policy, It won't be long before pension funds are a thing of the past

http://business.time.com/2012/09/26/...ors_picks=true
Old 09-29-2012, 02:33 PM
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As long as Wall St continues its business as usual policy, It won't be long before pension funds are a thing of the past
Pensions are a thing of the past, anyway. You think the youth of today, and the 20-somethings that are out there working today, give a rat's a$$ about people in their 30's, 40's, 50's, etc? As those younger generations begin to wake up to what a rip pensions are for them (e.g. they won't get one, but they may currently be paying into a system where someone in those older generations will), the notion of a pension will almost certainly be gone in another decade or so, if not sooner.
Old 09-29-2012, 02:49 PM
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Pensions are a thing of the past, anyway. You think the youth of today, and the 20-somethings that are out there working today, give a rat's a$$ about people in their 30's, 40's, 50's, etc? As those younger generations begin to wake up to what a rip pensions are for them (e.g. they won't get one, but they may currently be paying into a system where someone in those older generations will), the notion of a pension will almost certainly be gone in another decade or so, if not sooner.
I am nearly 34 and this is how I feel about social security. We met with a financial planner to help us get an idea of how much we needed to save to be able to retire in our mid-60s and we asked that the estimates NOT include social security.

My parents are at retirement age - nearly everyone they know who has a pension that they are eligible for has taken a flat sum of money up front and then re-invested that themselves as compared to getting the monthly payments. Fear of the money in the funds running out over time has pushed them in this direction. (well, that and the fact they are old and the money stops the second they die. )
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Old 09-29-2012, 03:04 PM
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I am nearly 34 and this is how I feel about social security. We met with a financial planner to help us get an idea of how much we needed to save to be able to retire in our mid-60s and we asked that the estimates NOT include social security.

My parents are at retirement age - nearly everyone they know who has a pension that they are eligible for has taken a flat sum of money up front and then re-invested that themselves as compared to getting the monthly payments. Fear of the money in the funds running out over time has pushed them in this direction. (well, that and the fact they are old and the money stops the second they die. )
35 here, same thinking with the exception that I no longer contribute to my 401k. I was doing a company match but they've been changing the rules so much lately that I no longer have any faith that this will continue. Couple this with the fact that the Dodd Frank act just keeps making things worse that I no longer want to play in this current system of this scam. I wonder when they will start raiding retirement accounts just like they did social security. I dont want their treasury certificates, a 10 yr is 1.6%? Screw that.

I've set my money in my 401k to be invested where I choose but I now take that money and I buy silver, physical silver and not that paper crap.

I will take control of my own financial future, and not depend on some crooked, greedy, spineless banker to make my decisions for me and my family.

Now that QE3 is in full effect, we'll see inflation follow. Give it a little time, 40 billion dollars a month and that alone is a lot. Don't count out fractional lending. With the low interest rates coupled with the banks lending this out, there is going to be some very major inflation. The fed reserve is out of options, this is their last move. The problem is not having enough currency being available. QE was not needed, but we'll see the effects soon enough. I'd rather park my "savings" into something that can counter inflation and quite honestly, silver fits the role perfectly.



Good luck!
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Old 09-29-2012, 03:26 PM
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There are other things that will stave off inflation these days. I do agree that PM's will hold in the long run, but a plan based solely on PM's will not work like it did in times past.

This world is a different place now. It is in the process of transitioning to third generation technology in full now. Gone are the machines/computers that a person could program, with a large quantity of heavy machinery in the same condition.

To give you some idea of what I meant by that, we transitioned into the first generation in the early to mid fifties. The old timers who could make the tools that made the technology of the day passed into the abyss of time around that frame of reference.

We have passed the point of no return on the second generation.
Those that made the tools for the first generation are dead an gone. Those first generation tools then began the process all over again until now the third generation tools are in progress. Given that there is always a generation that serves as a medium, it means all the above tech and knowledge required to create those second generation tools that are now creating the third, are gone.

Part of that late second and early third generation is a shift in what is considered precious. The third generation is firmly seated in rare earths, exotics, and polymers.

Short of the earth being kicked back to the stone age, any plans on retirement revolving around anything tangible had better have rare earths, exotics, and stock in key polymers in the mix. PM's will be there, but they will be competing with the new kids on the block.
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Old 09-29-2012, 04:05 PM
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There are other things that will stave off inflation these days. I do agree that PM's will hold in the long run, but a plan based solely on PM's will not work like it did in times past.

This world is a different place now. It is in the process of transitioning to third generation technology in full now. Gone are the machines/computers that a person could program, with a large quantity of heavy machinery in the same condition.

To give you some idea of what I meant by that, we transitioned into the first generation in the early to mid fifties. The old timers who could make the tools that made the technology of the day passed into the abyss of time around that frame of reference.

We have passed the point of no return on the second generation.
Those that made the tools for the first generation are dead an gone. Those first generation tools then began the process all over again until now the third generation tools are in progress. Given that there is always a generation that serves as a medium, it means all the above tech and knowledge required to create those second generation tools that are now creating the third, are gone.

Part of that late second and early third generation is a shift in what is considered precious. The third generation is firmly seated in rare earths, exotics, and polymers.

Short of the earth being kicked back to the stone age, any plans on retirement revolving around anything tangible had better have rare earths, exotics, and stock in key polymers in the mix. PM's will be there, but they will be competing with the new kids on the block.
I understand what you are saying but I fully plan on swapping a good chunk of metal into whatever the new currency is. I plan on holding physical for the time being until this whole mess plays out. If the S truly HTF then physical metal is my best, safest bet. It's not really a question about how much but rather when to cash it into the new currency.

That is the beauty of silver, its very very liquid into any currency I want. When it comes time to retire, my eggs won't be in one basket, but as long as the federal reserve continues to print currency then metals will just keep going up. The system is broke and I see that soon it will fall apart. Im just biding my time with something that will stave off inflation for right now, any future decisions depend on how bad these clowns screw up the financial world.
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Old 09-29-2012, 05:10 PM
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It's not really a question about how much but rather when to cash it into the new currency.
Let me start by saying that I totally agree.

However, I think most people fail to realize that if/when it gets to that point, make no mistake about it, you will be considered a felon should you continue to possess said PMs when and after a new currency is introduced. Don't think for one second you'll be able to waltz right in to your nearest bank, credit union, or coin dealer and drop a stack of PMs on the desk and be handed back said new currency. Heck no! More like, wait one second sir while I go to the back and get your cash--when it reality, they'll be calling the Feds or local law enforcement.

I fully expect 99% of the sheep to comply and willfully turn in their PMs when the government says so--just like in the 30's.

That being said, for now, what other alternative do we have? None that I can see, aside from land and other hard and tangible non-PM assets.
Old 09-29-2012, 05:58 PM
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There are other things that will stave off inflation these days. I do agree that PM's will hold in the long run, but a plan based solely on PM's will not work like it did in times past. . . .

PM's will be there, but they will be competing with the new kids on the block.
No way I'm putting my money into these guys . . . no frigging way.

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Old 09-29-2012, 06:06 PM
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Let me start by saying that I totally agree.

However, I think most people fail to realize that if/when it gets to that point, make no mistake about it, you will be considered a felon should you continue to possess said PMs when and after a new currency is introduced. Don't think for one second you'll be able to waltz right in to your nearest bank, credit union, or coin dealer and drop a stack of PMs on the desk and be handed back said new currency. Heck no! More like, wait one second sir while I go to the back and get your cash--when it reality, they'll be calling the Feds or local law enforcement.

I fully expect 99% of the sheep to comply and willfully turn in their PMs when the government says so--just like in the 30's.

That being said, for now, what other alternative do we have? None that I can see, aside from land and other hard and tangible non-PM assets.
Not everyone turned in their gold back then. I think even less would today being more educated in these matters of government theft, corruption, and tyranny. As for land being a hedge, without money, you can't pay the soon to be out of control property taxes and it will be taken from their owners.

Like you said, what other alternative do we have? When government becomes the head thief, all bets are off . . . all of them.
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Old 09-29-2012, 06:11 PM
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Well I certainly don't care what they label me, they're not getting so much as one silver dime. I was taking all my silver across the lake when the cherry from my cigarette blew into the back of the boat and started a fire. I had just enough time to get a life jacket on and the boat was gone. GPS went down too, I have no idea where I was on that lake.

Im taking a long position on shovels now..
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Old 09-29-2012, 06:14 PM
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Just so you know, they'll have a special FEMA camp for everyone who lost their PMs in a terrible boating accident.

Buy PMs with cash off the books and bury them if you want to carry your savings forward to a new currency.
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Old 09-29-2012, 06:17 PM
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Just so you know, they'll have a special FEMA camp for everyone who lost their PMs in a terrible boating accident.

Buy PMs with cash off the books and bury them if you want to carry them over to a new currency.
This is why I would take a long position on shovels.
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Old 09-29-2012, 06:40 PM
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My parents are at retirement age - nearly everyone they know who has a pension that they are eligible for has taken a flat sum of money up front and then re-invested that themselves as compared to getting the monthly payments. Fear of the money in the funds running out over time has pushed them in this direction.
That is exactly what my parents did as they saw the Euro crisis as a warning that their retirement money was in jeopardy. They are still eligible for the pension, and will in fact now get a little more each fortnight because their money went into their house and a new car - and some silver, but don't tell the government.
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Old 09-29-2012, 07:27 PM
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Originally Posted by Silverivalist View Post
As long as Wall St continues its business as usual policy, It won't be long before pension funds are a thing of the past

http://business.time.com/2012/09/26/...ors_picks=true
Where did your pension go??


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Old 09-29-2012, 07:54 PM
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Where did your pension go??
Obama healthcare vs. Corporate welfare, what's the difference?

Both parties want to give away your tax dollars.
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Old 09-29-2012, 08:37 PM
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Obama healthcare vs. Corporate welfare, what's the difference?

Both parties want to give away your tax dollars.
Two sides of the same coin.

And that coin is clad.

On a side note, I'm watching "The Book of Eli" on TNT. . . and the 2 old cannibals are eyeballing them. Good times.
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Old 09-29-2012, 08:39 PM
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All paper wealth is suspect anyway. This is why I do not agree with pensions or Social Security. It assumes the wheels will always be turning and does not give the individual the ability to invest in hard assets.
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Old 09-29-2012, 08:53 PM
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Just so you know, they'll have a special FEMA camp for everyone who lost their PMs in a terrible boating accident.
in goes stackers, out goes soylent green.
Old 09-29-2012, 11:09 PM
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After 12 years of paying into my company so called retirement fund. they discontinued. When i got my check after uncle sam took his cut, I lost $5200. I could have put it in a savings account and done better.
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Old 09-30-2012, 12:16 AM
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I fully expect 99% of the sheep to comply and willfully turn in their PMs when the government says so--just like in the 30's.
It ain't the 1930s anymore. Beyond collectors, anyone who is actually holding gold and silver bullion these days can hardly be called a "sheep". Compliance will be minimal at best.
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