Has anyone heard that, from what have heard, that ALL 50 states have laws on the books now where if an intermediary (i.e. Fidelity, Merrill Lynch, etc.) and they have issues, that our stocks, bonds, IRAs, 401ks can be used to settle their debts with banks. The banks are the first to be paid.
South Dakota is working on passing a law to make our investments OURS, not the banks.
Link to HB1199: https://legiscan.com/SD/text/HB1199/id/2905524/South_Dakota-2024-HB1199-Introduced.pdf
How do we fix this in the rest of the states. Especially, those of us in retarded Blue states.
They will be able to do this as YOU do NOT OWN your stocks if they are held at Fidelity, Merrill Lynch etc. They are held at DTCC and owned by the DTCC. Our shares work much like IOU's in those institutions. They have the right to cancel your trades and shares. If you have shares of any company that you like, you need to direct transfer shares in your name. Those shares will then be taken out of circulation and out of the DTCC and into your transfer agent account. A quick google search will tell you which transfer agent a company uses. The process is quite simple, say at fidelity you can DRS your shares through virtual chat and a few days later they will be moved out of say Fidelity and into your new account with such transfer agent. This can be donw with IRA's as well but I believe comes with penalties, but could be wrong here.
Edit: Check out this doc from a couple decades ago, it was banned for a long time. The Wall Street conspiracy. These people are fucking neferious
https://www.youtube.com/watch?v=26_IcexvePA
I was always under the understanding that my 401k, which I pay into for retirement, which get then pays into various Mutual Funds that I have chosen, was mine for retirement. We only have a few stocks, our main thing is 401k. Thank you for the YT link. Will watch it.
I borrowed from my 401k and bought silver.
You do you,but I enjoy the security of the deal.
It's a free loan to corporations until you retire. Retirement savings is a joke. You're far better putting that money to use pursuing an interest that will allow you to generate income, which is your real biggest asset. Stay out of debt and live well within your means.
Went to college to be a financial advisor. Realized they're just mutual fund salesmen. The stock market is a casino, not a place to put your life savings.
Silver.......in hand.
Silver ✅ Food ✅ CoH ✅ Alt Currency ✅
Silver and lead
I heard about this got the first time in a podcast last week. Crazy. I really want to get my house paid off
Theres some guy doing the rounds that talks of the great taking. That your house, car anything you owe on. And the things you mention retirement, stocks if theyre being held.
David Rogers Webb has deep experience with investigation and analysis within challenging and deceptive environments, including the mergers and acquisitions boom of the 80’s, venture investing, and the public financial markets. He is the author of ‘The Great Taking’ which outlines the taking of collateral (all of it), the end game of the current globally synchronous debt accumulation super cycle. This scheme is being executed by long-planned, intelligent design, the audacity and scope of which is difficult for the mind to encompass.
Worth a listen 🎧: https://delingpole.podbean.com/e/david-rogers-webb/
https://thegreattaking.com/the-documentary
Everyone should watch this documentary. Webb recently did a good interview with Greg Hunter. You can find that interview on Rumble.
The Great Taking book .pdf is free to download at the author, David Rogers Webb’s website, here: https://thegreattaking.com/read-online-or-download
Called a bail-in... It is the reason I got out of banks and investment companies. I now bank exclusively in a military credit union and buy physical assets for investment.
Didn't Argentina do this? From the economic populist in 2008..... House discusses 401k/IRA confiscation Submitted by midtowng on November 7, 2008 - 4:04pm
This shouldn't surprise anyone who watched what happened to Argentina in 2001. Eventually the government is going to do this. Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.
Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly.
...
GRAs would guarantee a fixed 3 percent annual rate of return, although later in her article Ghilarducci explained that participants would not “earn a 3% real return in perpetuity.” In place of tax breaks workers now receive for contributions and thus a lower tax rate, workers would receive $600 annually from the government, inflation-adjusted. For low-income workers whose annual contributions are less than $600, the government would deposit whatever amount it would take to equal the minimum $600 for all participants.
In a radio interview with Kirby Wilbur in Seattle on Oct. 27, 2008, Ghilarducci explained that her proposal doesn’t eliminate the tax breaks, rather, “I’m just rearranging the tax breaks that are available now for 401(k)s and spreading — spreading the wealth.”
All workers would have 5 percent of their annual pay deducted from their paychecks and deposited to the GRA. They would still be paying Social Security and Medicare taxes, as would the employers. The GRA contribution would be shared equally by the worker and the employee. Employers no longer would be able to write off their contributions. Any capital gains would be taxable year-on-year.
Analysts point to another disturbing part of the plan. With a GRA, workers could bequeath only half of their account balances to their heirs, unlike full balances from existing 401(k) and IRA accounts. For workers who die after retiring, they could bequeath just their own contributions plus the interest but minus any benefits received and minus the employer contributions.
Another justification for Ghilarducci’s plan is to eliminate investment risk. In her testimony, Ghilarducci said, “humans often lack the foresight, discipline, and investing skills required to sustain a savings plan.” She cited the 2004 HSBC global survey on the Future of Retirement, in which she claimed that “a third of Americans wanted the government to force them to save more for retirement.”
Yeah the few I have I've written off. I put no more money in them. I buy gold and silver. Even if I'm thrown in prison they'll never get their hands on it.