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-   -   Serious Question/Coming Crash/US Government (https://www.askmehelpdesk.com/showthread.php?t=815144)

  • Aug 13, 2015, 06:47 AM
    catonsville
    Serious Question/Coming Crash/US Government
    Throwing this out for some answers. We hear that a Stock Market Crash is about to happen. We also hear that the Government wants to take over our IRA's and give us a IOU in the form of a monthly check. Question would it make any sense to make sure your IRA is mainly invested?

    My thinking is that the Government can more easily take your cash which is in a nice little pile whereas your invested money is in millions of little piles scattered all over the world. What say you? Of course if the country maintains its present heading, they will own everything making my question a moot point.
  • Aug 13, 2015, 07:49 AM
    NeedKarma
    Only the crazy right-wing blogs talk about the gov taking over IRAs, it's not true in the slightest. The stock market issue is one of concern especially considering how your economy is tied to China and its current financial woes.
  • Aug 13, 2015, 07:54 AM
    ebaines
    You say "we hear" that there is going to be a crash? That's like saying "we hear" there is going to be a hurricane - yes, they occur, and it's prudent to be prepared, but that doesn't mean you should go hide in the basement. As for the "government" wanting to take your IRA - just who in the government are you referring to? I have not heard of any such proposals from anyone in Congress. I think you've been trolling too many conspiracy web sites. My advice is concentrate on managing your IRA wisely, with a good diversity of investment types. Creating a bunch of small accounts out of one big account merely introduces unneeded complications, especially when it comes time for required minimum distributions at age 70-1/2.
  • Aug 13, 2015, 07:56 AM
    Oliver2011
    They have been talking about that since Obama first came into office. If seizing our IRAs and 401Ks was likely then it was more likely when the Democrats controlled both sides of Congress. It is highly unlikely, almost impossible to believe the Republicans would ever vote for that. Obama could do another Executive Order that would not hold up in court. The court has not allowed him to legislate with his Executive Order pens. And not to mention the millions of Americans with IRAs and 401Ks that would be enraged with him if he did so. What is more likely to happen and what has been happening is the rules for IRAs and 401ks are changing.

    Bottom line for me is get me back to the time when Reagan said “Government is not the solution to our problem; government is the problem.” Back off Government and let the free economy do its thing. If GM is going to fail, then let it fail, restructure, and come back healthier. It’s when we try to provide solutions that we screw everything up.
  • Aug 13, 2015, 08:04 AM
    excon
    Quote:

    Originally Posted by catonsville View Post
    My thinking is that the Government can more easily take your cash which is in a nice little pile whereas your invested money is in millions of little piles scattered all over the world. What say you? Of course if the country maintains its present heading, they will own everything making my question a moot point.

    Hello c:

    Nahhh... Irrespective of the reasons for a crash, if they can FIND your cash, they can take it.. Simple solution - don't let them find it. That's doable.. Dig a hole, and put it in.. Although, I'd buy gold with my cash and put THAT in the ground instead.

    But, any other paper investment can be tracked and seized no matter where in the world it is.

    excon
  • Aug 13, 2015, 08:12 AM
    catonsville
    Thanks for your responses. I feel much better knowing that it will never happen. LOL
    I also feel that if they were to try to do it, shame on them. As for who in the government could be responsible, for such an action, two come to mind. a guy with a pen and a phone and congress. Sometimes rumors come true, I don't plan to hold my breath waiting.
  • Aug 13, 2015, 08:18 AM
    catonsville
    Quote:

    Originally Posted by excon View Post
    Hello c:

    Nahhh... Irrespective of the reasons for a crash, if they can FIND your cash, they can take it.. Simple solution - don't let them find it. That's doable.. Dig a hole, and put it in.. Although, I'd buy gold with my cash and put THAT in the ground instead.

    But, any other paper investment can be tracked and seized no matter where in the world it is.

    excon

    Can you imagine how large the government would grow in size, to manage such a takeover plan?
  • Aug 13, 2015, 08:21 AM
    excon
    Quote:

    Originally Posted by catonsville View Post
    Can you imagine how large the government would grow in size, to manage such a takeover plan?

    Hello again, c:

    No, I can't imagine the government doing it. What???? Do you think 300 million of us would LET them take it???

    excon
  • Aug 13, 2015, 09:45 AM
    catonsville
    Quote:

    Originally Posted by excon View Post
    Hello again, c:

    No, I can't imagine the government doing it. What???? Do you think 300 million of us would LET them take it???

    excon

    Yep, it could happen when Elephants learn to Fly. LMAO
  • Aug 13, 2015, 10:16 AM
    smoothy
    If they ever impose the radical lefts gun control... which is actually gun confiscation. THEN it could happen... until then there are enough armed Americans to insure any attempt to do that would result in an armed uprising. One of the reasons we have a second amendment in the first place.

    There are ways to make money untouchable to the USA short of physically hording it someplace or burying it. But accessing it would be a pain. Just that they aren't available to most people. And its not just to the rich. I haven't done it much because its riskier than leaving it here. (However gold in smaller measures is a good idea because a currency can collapse..but gold will remain valuable) . Just don't expect to earn high returns on it. Its not a great investment for returns but it will never be worth zero or anywhere near it.
  • Aug 13, 2015, 10:21 AM
    Oliver2011
    I am not allowed to play with guns in my house. That probably keeps a lot of people safe.
  • Aug 13, 2015, 10:24 AM
    NeedKarma
    Quote:

    If they ever impose the radical lefts gun control... which is actually gun confiscation
    <yawn>
  • Aug 13, 2015, 10:24 AM
    catonsville
    Quote:

    Originally Posted by smoothy View Post
    If they ever impose the radical lefts gun control... which is actually gun confiscation. THEN it could happen... until then there are enough armed Americans to insure any attempt to do that would result in an armed uprising. One of the reasons we have a second amendment in the first place.

    I agree, and I doubt that the takers would survive very long.
  • Aug 13, 2015, 10:31 AM
    smoothy
    Quote:

    Originally Posted by catonsville View Post
    I agree, and I doubt that the takers would survive very long.

    Since a lot of Cops.. and Military would be getting screwed... anyone that attempted to impose that would likely find few people protecting them from the angry masses.

    Can't say it could never happen, just that its unlikely to ever happen in our lifetimes as a result. Not without a lot of other events happening to pave the way first.
  • Aug 13, 2015, 10:36 AM
    NeedKarma
    Also you must be wary of the radical right's wish to impose a theocracy. I can't say it will happen but it could.
  • Aug 13, 2015, 10:38 AM
    smoothy
    Quote:

    Originally Posted by NeedKarma View Post
    Also you must be wary of the radical right's wish to impose a theocracy. I can't say it will happen but it could.

    Been hitting the bottle today?
  • Aug 13, 2015, 10:40 AM
    Oliver2011
    The radical right is a very small group anymore. Which of the 15,094 Republican candidates would you call very conservative? They all have to move that way to through the primaries and then they will move back to the center where they all are basically from, save Governor Huckabee.
  • Aug 13, 2015, 10:43 AM
    NeedKarma
    Remember the Tea Party "movement"?
    The current crop of republican presidential candidates is a little worrisome to say the least.
  • Aug 13, 2015, 10:45 AM
    Oliver2011
    It's too early for me to care. I vote the platform anyway and sometimes the platform could be improved.
  • Aug 13, 2015, 10:53 AM
    NeedKarma
    Agreed.
  • Aug 13, 2015, 10:55 AM
    catonsville
    Quote:

    Originally Posted by NeedKarma View Post
    Remember the Tea Party "movement"?
    The current crop of republican presidential candidates is a little worrisome to say the least.

    The Tea Party could be waiting to pounce. Just being quiet.
  • Aug 13, 2015, 11:16 AM
    NeedKarma
    I think that's a worse case scenario.
  • Aug 13, 2015, 11:28 AM
    smoothy
    No.. worst case scenario is Hillary somehow stealing the election.
  • Aug 13, 2015, 11:31 AM
    Oliver2011
    Bite your tongue.

    I don't know if it's the pants suit, the lies or the voice that is more bothersome. And of course 100% of her policies and generally speaking 100% bad.
  • Aug 13, 2015, 12:11 PM
    NeedKarma
    I've entered the conservative circle-jerk.. eek!
  • Aug 13, 2015, 03:04 PM
    smoothy
    Quote:

    Originally Posted by NeedKarma View Post
    I've entered the conservative circle-jerk.. eek!

    Just be careful where you point yours.
  • Aug 13, 2015, 03:57 PM
    tickle
    Catonsville can u please get your facts straight before you go off posting like this!
  • Aug 13, 2015, 04:24 PM
    catonsville
    Quote:

    Originally Posted by tickle View Post
    Catonsville can u please get your facts straight before you go off posting like this!

    I may not present facts up to your standard but it would be nice if some of you
    "Know it Alls" would please not respond, if you wish. Your participation is not mandatory. Thank you. I can go elsewhere to make you happy.
  • Aug 13, 2015, 04:26 PM
    smoothy
    I think he's got a valid concern... based on the last 7 years of lawlessness in the White house and justice dept. And I do believe if the current administration thought they could get away with it... they would try it. Just that even they realize there would be 300+ million guns pointed at them if they tried.
  • Aug 14, 2015, 01:16 AM
    tickle
    Quote:

    Originally Posted by catonsville View Post
    I may not present facts up to your standard but it would be nice if some of you
    "Know it Alls" would please not respond, if you wish. Your participation is not mandatory. Thank you. I can go elsewhere to make you happy.

    You don't get to say who answers or doesn't answer Catonsville. My concern is you not checking your facts and making sure your question is plausible.
  • Aug 14, 2015, 01:21 AM
    tickle
    Quote:

    Originally Posted by catonsville View Post
    I may not present facts up to your standard but it would be nice if some of you
    "Know it Alls" would please not respond, if you wish. Your participation is not mandatory. Thank you. I can go elsewhere to make you happy.

    You don't get to say who answers and who doesn't Catonsville. Where did you actually READ there was going to be a stock market crash in the U.S. The only incident I have read lately is the Chinese yen being devalued. So can you provide a link where you read this?
  • Aug 14, 2015, 05:25 AM
    tickle
    Stock market crashes happen in the blink of an eye. Why do you think so many people with investments get ruined at that moment, it is because they don't have any Immediate warning and lose their shirts
  • Aug 14, 2015, 05:31 AM
    Oliver2011
    Isn't the yen Japanese? I have no clue what the Chinese currency is.
  • Aug 14, 2015, 06:08 AM
    excon
    Hello again,

    What I like about gold is, it's MONEY... It's ALWAYS been money, it ALWAYS will be money, and EVERYBODY knows it's money. Besides, it's BEAUTIFUL. It NEVER tarnishes. It comes up from the sea floor as BEAUTIFUL as it was when it went down.

    When/and if your paper investments (currency, stocks, bonds, 401 K's, bank accounts, etc.) go kaput, your gold just might buy your family some dinner.

    excon
  • Aug 14, 2015, 06:59 AM
    catonsville
    Quote:

    Originally Posted by tickle View Post
    You don't get to say who answers and who doesn't Catonsville. Where did you actually READ there was going to be a stock market crash in the U.S. The only incident I have read lately is the Chinese yen being devalued. So can you provide a link where you read this?

    You are correct anyone is free to respond to a post. On the other hand you are not required to respond. If you have anything in the stock market, surely you are aware of the internet and might want to Google "Market Crash 2015" I believe you will see someone whom you have heard of for one: "Senator Ron Paul". Not sure if you are in the USA and follow what is going on here. Minor point it is not the Chinese "yen" it is the Chinese "Yuan" of which you speak.

    Also, maybe you have done some research on the possibility of the US losing its Currency Reserve Status and what the devaluing of the Yuan by the Chinese may do to the US Stock Market?

    PS I am not Donald Trump so snippy is unnecessary
  • Aug 14, 2015, 07:19 AM
    smoothy
    Quote:

    Originally Posted by Oliver2011 View Post
    Isn't the yen Japanese? I have no clue what the Chinese currency is.

    The Yuan is the Chinese Currency... right now one is worth about $0.16 US. And according to the news..the Chinese Government is devaluing it.
  • Aug 14, 2015, 10:27 AM
    tickle
    Quote:

    Originally Posted by Oliver2011 View Post
    Isn't the yen Japanese? I have no clue what the Chinese currency is.

    Chinese currency is 'yuan'' and is worth 20 cents CDN
  • Aug 14, 2015, 10:37 AM
    tickle
    Quote:

    Originally Posted by catonsville View Post
    You are correct anyone is free to respond to a post. On the other hand you are not required to respond. If you have anything in the stock market, surely you are aware of the internet and might want to Google "Market Crash 2015" I believe you will see someone whom you have heard of for one: "Senator Ron Paul". Not sure if you are in the USA and follow what is going on here. Minor point it is not the Chinese "yen" it is the Chinese "Yuan" of which you speak.

    Also, maybe you have done some research on the possibility of the US losing its Currency Reserve Status and what the devaluing of the Yuan by the Chinese may do to the US Stock Market?

    PS I am not Donald Trump so snippy is unnecessary

    I am Canadian and follow the news every day. I haven't heard about a US stock market crash, nor read anything similar to this.

    Like I said, there will be no warning of a crash, until then, everything else is heresay.

    I AM required to respond.

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