Obama's SOTU speech was emblematic of the Texas saying (coined, no doubt, for LBJ), all hat and no cattle.  Every word - well, maybe not every word because AFA couldn't watch it all the way through - was pure PR, trying to resurrect tired ideas that never could work.  Ridiculous progressive rhetoric squared!

One of the more preposterous of many proposals was his all new, bright and shiny MyRA plan.  This is designed to be IRAs for Dummies but aimed at those making $19K a year and under.  Of course, no mention of the fact that these people have the same access to standard IRAs and ROTH IRAs as anyone else, so it doesn't take a genius to figure out what this is really about.  But, guessing that people in this income range have little, if any, income to save after the bills are paid,

MyRAs are designed to invest ONLY in US Treasury Bonds.  Yeah, that's a great idea!  Let's invest in a country that keeps running up debt they can't pay.  This is extortion of the highest order.  It puts the burden on companies to sign on to this scam, eh, scheme, to help Uncle Fingers to create yet more debt.  Those bonds are being sold to foreign interests in return for a piece of America!

But, putting emotion aside, let's use some judgement and think this through.

1.  Obama's government has done an outstanding job running healthcare so far, which turns out to be nothing so much as a hi-jacking of the health insurance of every American and putting it in the hands of a hapless HHS.

2.  Federal Reserve, a private company reported (unconfirmed) to have been sold to the Chinese, has no legal ties to the United States but controls the national currency, reports one month that they will start to raise interest rates causing massive inflation in this country. The next month, they are warning about massive deflation in Europe whose currency is tightly dependent on U.S. currency.  The gang who can't shoot straight?

“Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”

– The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s" - Read more on Global Research

 

3.  The banking industry.  Corruption.  Control by the feds and foreign interests.  Soros.  Reported to be on the verge of collapse, bringing down the stock market with it. The Feds doing what they do best.  See Global Research link above.

4.  Investing in solar companies that went belly up.  'Nough said.

5.  Social Security.  Now here is the perfect model for MyRA.  FDR started this ponzi scheme, forced employers to extract mandatory contributions from workers that went into the Social Security Fund, was spent to make America's balance sheet look less horrible than it was and now going broke.  And still in effect.  And now they call it "entitlements."  Let's see: recipients forced to pay into this and now, when they start to get a "return" on their investment, they are accused of thinking they are entitled.  Ask most actuaries and they will likely tell you that your money would have grown faster in your own systematic savings plan and it would not have been siphoned off by the government.

5.  Let's see.  What could possibly go wrong with MyRA?

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Replies to This Discussion

Lest we forget Medicare. Another required entitlement that is going broke.

The Federal Reserve is a private entity that should respond to the governments requirement. QE is not a government program.

SEE -  http://en.wikipedia.org/wiki/Jekyll_Island

Wikipedia is written by the asshole that wants his or her idea published more.

Marc,

I would suggest you read "The Creature From Jeckyl Island".

Afterwards compare it to Wiki's understanding and then ask yourself if you misspoke.

I am not saying everything Wikipedia espounds is factual, just they hit it right on the FED.

The Creature From Jeckyl Island gives us the background how the FED was formed in 1908 with bankers, politicians, and Executives from major corporations meeting on Jeckyl Island, Ga to establish a policy and priorities that is now the FED. It could not be instilled into our currency procedures until a progressive such as Woodrow Wilson was elected in 1912.

In two years, the FED will be 100 years old.

where did you hear about China buying FED?

thanks

this is what I heard on Coast 2 Coast http://www.youtube.com/watch?v=PAcD6O5ynYg&list=UUEoHFIWIyMhbmJ...

do we know JC Collins?

so the Mass Media has not told us about the FED and US Treasury parting? what a surprise.  I like the part about MyRA. One has to listen closely to the boring propaganda from Obama. He in fact knows what is going on, just cannot say directly.

http://gulagbound.com/ had a story years ago about US stealing from Japanese(?) ship in the early 1930 a couple years ago  something about it was in building 7 before 9/11. Do you know anything about that? and how it fits into things.

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