http://market-ticker.denninger.net/archives/1830-401kIRA-Screw-Job-Coming.html
A spade is a spade,
It's time to ask what they can take and enforce next.
Because that is the only probability that can happen, until there are no more probabilities to engage in, because they've all been used up and we as a nation have been leveraged for everything we're worth?
And the question is what state will our nation be in then?
How much is a future worth if your putting it up for Hock?
Now this is a guaranteed rape job.
In a short conversation this noontime that CNBC apparently has omitted from their archives (Why's that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.
Where would they get this?
From your 401k and IRA accounts!
From Businessweek:
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.
Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!
