Go Back   Old Project Avalon Forum (ARCHIVE) > Project Avalon Forum > Project Avalon > Economy and Currency

Notices

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
Old 01-13-2010, 06:28 AM   #1
peaceandlove
Avalon Senior Member
 
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Thumbs down IRA’s and 401K's to be used to provide capital to the US Treasury market?

401k/IRA Screw Job Coming?

Friday, January 8. 2010
Posted by Karl Denninger

Now this is a guaranteed rape job.

In a short conversation this noontime that CNBC apparently has omitted from their archives (Why's that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.

Where would they get this?

From your 401k and IRA accounts!

From Businessweek: http://www.businessweek.com/news/201...-ici-says.html
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort
.

Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!

Continues: http://market-ticker.denninger.net/a...ob-Coming.html
peaceandlove is offline   Reply With Quote
 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 08:08 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Project Avalon