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catonsville · Aug 13, 2015, 06:47 AM

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.

NeedKarma · Aug 13, 2015, 07:49 AM

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.

ebaines · Aug 13, 2015, 07:54 AM

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.

Oliver2011 · Aug 13, 2015, 07:56 AM

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.

excon · Aug 13, 2015, 08:04 AM

Originally Posted by catonsville

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

catonsville · Aug 13, 2015, 08:12 AM

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.

catonsville · Aug 13, 2015, 08:18 AM

Originally Posted by excon

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?

excon · Aug 13, 2015, 08:21 AM

Originally Posted by catonsville

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

catonsville · Aug 13, 2015, 09:45 AM

Originally Posted by excon

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

smoothy · Aug 13, 2015, 10:16 AM

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.

Oliver2011 · Aug 13, 2015, 10:21 AM

I am not allowed to play with guns in my house. That probably keeps a lot of people safe.

NeedKarma · Aug 13, 2015, 10:24 AM

If they ever impose the radical lefts gun control... which is actually gun confiscation

<yawn>

catonsville · Aug 13, 2015, 10:24 AM

Originally Posted by 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.

I agree, and I doubt that the takers would survive very long.

smoothy · Aug 13, 2015, 10:31 AM

Originally Posted by catonsville

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.

NeedKarma · Aug 13, 2015, 10:36 AM

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.

smoothy · Aug 13, 2015, 10:38 AM

Originally Posted by 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.

Been hitting the bottle today?

Oliver2011 · Aug 13, 2015, 10:40 AM

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.

NeedKarma · Aug 13, 2015, 10:43 AM

Remember the Tea Party "movement"?
The current crop of republican presidential candidates is a little worrisome to say the least.

Oliver2011 · Aug 13, 2015, 10:45 AM

It's too early for me to care. I vote the platform anyway and sometimes the platform could be improved.

NeedKarma · Aug 13, 2015, 10:53 AM

Agreed.