I believe the evildoers spent all 401k’s already and that’s why they have taxes on them just to keep our money from us. Of course they tax us because they want more money. Sometimes I want the whole system to go the hell so we see these evil cartel burn down.
“Blackstone has struck a partnership with Vanguard, while Apollo and Partners Group are among firms that will offer investments to Empower, a large 401k plan sponsor. BlackRock has already begun working with Great Gray Trust, a third-party manger of retirement savings plans,” stated Financial Times.
The trouble with bitcoin and other crytos is that they aren't really assets, in the normal sense. The current cost of bitcoin is CLEARLY due to the same phenomenon as the famous tulip bulb investment bubble of the 1600s. At least with the tulip bubble, there was an actual "thing" of value. With crypto, it's PURELY speculative; there is no basis for the value other than people buying it because it keeps going up. At least gold, which is going through a similar but less drastic rise in price, is an actual "thing" of value.
Bitcoin originally was valuable because it was a useful means of exchange, but that's not what it is anymore. When people were able to use it to buy and sell things without intermediaries and with negligible fees, it gained value because people actually used it.
Then it went to shit because the narrative caught on that all you had to do was buy and hold to reap the rewards. It became speculative, and people stopped using it and just started viewing it like a stock.
It's value derives from its utility as a means of exchange. Without people using it, the "store of value" narrative has nothing behind it other than people's belief that it will just always go up in terms of dollars.
To me, thos sounds like a backup route for the inevitable collapse of the dollar. This way retirement plans will continue to gain in value even without the federal reserve note in it.
Depending on how popular these alternatives are, it very well could spell the end of the Fed's stock market superbubble.
401ks are overwhelmingly pumped into Blackrock, Vanguard, etc ETF products, which they then use to megapump the stock market with dumb unmanaged money. Turning off the flow of dumb money means companies actually have to provide returns versus the pyramid scheme of endless inflating stock prices. Hard to do for normal companies, much less the ones hooked on the opiate of easy Blackrock ESG money.
Now, I will fully admit that I have only had direct exposure to some 4 401k plans, and thus can't speak for all offerings, but from what I've seen asides from the "Retirement 20XX" products like you've alluded to, there was always the option for more granular control to invest along the lines of S&P 500 or Russell 2000, along side more granular control with bonds in so far as muni, corp, etc. I therefore do not think it unreasonable that while bundled, yes, that Blackrock and ilk will still provide more general crypto and PM products.
As far as the current GLD and Grayscale BTC offerings go, you have to keep in mind they were never set up to actually cope with the underlying assets price moving upward with any real pace. Those products are meant to suppress prices through future contract shenanigans, and if they explode in price, that's actually stressing the price suppression mechanisms that they operate as, and will lead to the underlying actually pricing more realistically as a result.
Lastly, I am of the opinion that this is likely a move to attempt to break people's mental reliance on the stock market as the end all be all of retirement, and try and get people to be more comfortable with less traditional assets as retirement money. At the end of the day, if the stock market is due for a true, revert to pre-Greenspan style bailout correction (which it is by far), having at least a slim chance that people might have a lifeboat left in their 401k by way of gold or bitcoin is a good thing, even if they don't break out of the mental cage of the 401k as a whole.
My employer's retirement fund manager allows us to run a self directed brokerage account. It wasn't freely advertised, I only found it in one of the drop down menus when I was checking my retirement balance. I quickly made a separate account and diversified maybe 40% funds away from the evil companies that Blackrock, State Street and Vanguard like to circle-jerk.
According to Grok:
Approximately 40% of investment firms managing 401(k) retirement accounts offer a self-directed brokerage account option, based on data from Aon Hewitt indicating that 40% of companies provided this feature in their 401(k) plans as of 2023. This figure is corroborated by other sources, such as Alight Solutions, which notes that about half of large plans include a self-directed brokerage window, with prevalence growing. However, the exact percentage can vary depending on the size and type of plan, as smaller plans may be less likely to offer this option.
Can bitcoin still be bought “under the table” using an encryption wallet dealio where nobody can get it or knows you have it? Problem with the stock market is the control of stock numbers and all the inventing and loaning shares that don’t exist.
My friends during the Ron Paul movement were always trying to get us to buy this “crazy bitcoin scheme” at 3 dollars each but you had to create a “wallet”
End Income Tax
Then people can do whatever they want with their money and there won't be any reason to have 401ks
This is the adult solution.
Good point. The whole "tax-deductible retirement account" thing is just bullshit.
It's not Tax deductible, it is tax deferred. You pay tax when you pull the money out.
Good point.
Exactly
Opening Americans retirement accounts to private equity vultures...
They squeeze all the life out of legacy American businesses to the point of bankruptcy.
What could go wrong?
"What could go wrong?"
...doggy winks...
I believe the evildoers spent all 401k’s already and that’s why they have taxes on them just to keep our money from us. Of course they tax us because they want more money. Sometimes I want the whole system to go the hell so we see these evil cartel burn down.
Incredibly bullish news for metals and crypto.
u/#ummwhat
Now how about let us use our own money without penalty
How nice of the government to decide on retirement investment vehicles for us.
The trouble with bitcoin and other crytos is that they aren't really assets, in the normal sense. The current cost of bitcoin is CLEARLY due to the same phenomenon as the famous tulip bulb investment bubble of the 1600s. At least with the tulip bubble, there was an actual "thing" of value. With crypto, it's PURELY speculative; there is no basis for the value other than people buying it because it keeps going up. At least gold, which is going through a similar but less drastic rise in price, is an actual "thing" of value.
Bitcoin originally was valuable because it was a useful means of exchange, but that's not what it is anymore. When people were able to use it to buy and sell things without intermediaries and with negligible fees, it gained value because people actually used it.
Then it went to shit because the narrative caught on that all you had to do was buy and hold to reap the rewards. It became speculative, and people stopped using it and just started viewing it like a stock.
It's value derives from its utility as a means of exchange. Without people using it, the "store of value" narrative has nothing behind it other than people's belief that it will just always go up in terms of dollars.
It is definitely on course for a huge crash.
Wonder if (you know who) was involved in making that Tulip Mana go wild. That could be one of the first "Pump & Dumps" in modern history.
To me, thos sounds like a backup route for the inevitable collapse of the dollar. This way retirement plans will continue to gain in value even without the federal reserve note in it.
" To me, thos sounds like a backup route for the inevitable collapse of the dollar. "
...filed under " Distinct Possibilities"...
Best news.
Be better if IRAs were mentioned.
You can buy crypto and gold IRA.
Gold I knew , I thought only Crypto ETF .
Used to be Crypto ETF, I think that has changed already but I cannot be sure. I just do my own crypto.
Aren't they already kinda? with ETFs? You can do self directed too.
That is actually a genius move to corner the Fed.
How will affect the markets? If money is pulled out of some investments won't that affect other parts of the markets.
Depending on how popular these alternatives are, it very well could spell the end of the Fed's stock market superbubble.
401ks are overwhelmingly pumped into Blackrock, Vanguard, etc ETF products, which they then use to megapump the stock market with dumb unmanaged money. Turning off the flow of dumb money means companies actually have to provide returns versus the pyramid scheme of endless inflating stock prices. Hard to do for normal companies, much less the ones hooked on the opiate of easy Blackrock ESG money.
Now, I will fully admit that I have only had direct exposure to some 4 401k plans, and thus can't speak for all offerings, but from what I've seen asides from the "Retirement 20XX" products like you've alluded to, there was always the option for more granular control to invest along the lines of S&P 500 or Russell 2000, along side more granular control with bonds in so far as muni, corp, etc. I therefore do not think it unreasonable that while bundled, yes, that Blackrock and ilk will still provide more general crypto and PM products.
As far as the current GLD and Grayscale BTC offerings go, you have to keep in mind they were never set up to actually cope with the underlying assets price moving upward with any real pace. Those products are meant to suppress prices through future contract shenanigans, and if they explode in price, that's actually stressing the price suppression mechanisms that they operate as, and will lead to the underlying actually pricing more realistically as a result.
Lastly, I am of the opinion that this is likely a move to attempt to break people's mental reliance on the stock market as the end all be all of retirement, and try and get people to be more comfortable with less traditional assets as retirement money. At the end of the day, if the stock market is due for a true, revert to pre-Greenspan style bailout correction (which it is by far), having at least a slim chance that people might have a lifeboat left in their 401k by way of gold or bitcoin is a good thing, even if they don't break out of the mental cage of the 401k as a whole.
My employer's retirement fund manager allows us to run a self directed brokerage account. It wasn't freely advertised, I only found it in one of the drop down menus when I was checking my retirement balance. I quickly made a separate account and diversified maybe 40% funds away from the evil companies that Blackrock, State Street and Vanguard like to circle-jerk.
According to Grok:
This will ironically pump BTC to 1mm
Can bitcoin still be bought “under the table” using an encryption wallet dealio where nobody can get it or knows you have it? Problem with the stock market is the control of stock numbers and all the inventing and loaning shares that don’t exist.
My friends during the Ron Paul movement were always trying to get us to buy this “crazy bitcoin scheme” at 3 dollars each but you had to create a “wallet”