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Replies: 56 / Views: 6,370 |
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Pillar of the Community
 United States
4008 Posts |
Quote: I have read that some people have cashed in IRA or 401k money to buy! I haven't done so but they believe the penalty and tax are worth it. Yes, Angel, I have read that as well. Wow! That IS a HUGE step, IMHO. But who knows? They might be right about doing that. Then again, they might not be and will have taken a HUGE tax hit for nothing. I'm not sure that I could go "all in" like that on one type of investment, no matter how much I thought it was the greatest place to put my money. Experience has taught me to be cautious and to have a mixture of investments. Doing this kind of flies in the face of that experience. Only problem with experience is that it isn't helpful when the game changes completely. We're seeing some of that in the investment world now but not so much that none of what we've learned can be used to guide us. About the only thing that would encourage me to cash in my IRAs would be if the government started messing with them, requiring certain investments, grabbing some of the money, etc.
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Pillar of the Community
United States
2168 Posts |
Yes I feel the same. Only thing is it could be s sudden decision since they would want to have the cash before everyone withdrew. It is such a shame the MF Global issue. There are many farmers that had invest$emts there and cannot buy seed and other itmes necessary. They felt it safer than their banks for large amts of money. Terrible mess
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Valued Member
United States
306 Posts |
Must have been fun opening that bag! Thanks for posting!
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Pillar of the Community
 United States
4008 Posts |
Quote: Only thing is it could be s sudden decision since they would want to have the cash before everyone withdrew. Yes, changes like that could very well come very quickly. The thing that gives me some hope here is that this would be an absolutely horrendous political step. There are millions of Americans who have their life savings in these retirement plans, so anyone messing with that had been realize that this would enrage about 1/2 of the US population like few other issues would. Unlike most of the world's population, American citizens are well armed. We have a history as riflemen and as strong proponents of liberty. There is just no way that we would put up with an attempt to grab our retirement money. Obviously, we would use political force as our first attempt to correct a hideous error of this type. If that failed, however, look out! The gloves would definitely be off then. Quote: Must have been fun opening that bag! Thanks for posting! Yes, it was. A little unnerving, though. The bag had a plastic tie around the neck as a closure. I've never bought a bag of coins before, so did not know if I should leave it on to show that the bag was still sealed or whether I should open it to check the coins to make sure that they were all there and all silver. I finally decided that I needed to check the coins, so I opened the bag. When I first opened the shipping box, I thought that the coins in the bag were loose and that I would have to count them into plastic tubes for storage. Once I picked up the bag, though, I could tell that the dimes were already in plastic tubes. Most of the tubes were round but a few were the square tubes I prefer. Most of the tubes were in good shape as well but a few were cracked. I will replace the cracked tubes with new ones. That will look better and it will protect the coins a bit better during their years of storage. Quote: Thanks for posting! You're very welcome for the post and the pic. I have gotten a lot from the great people who visit this web site and I very much appreciate the site too, so anytime I can repay the members and the moderators a little I am more than happy to do so. 
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Pillar of the Community
United States
2168 Posts |
Yes well armed but we are slowing being conditioned to accept many freedoms being taken away or limited. Look at airline travel now. Would you ever beliebe 2ven a year and a half ago we would be searched like they are now. Look at the big push for flu shots condition all they can before forced
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Pillar of the Community
 United States
4008 Posts |
Because of the groping that the TSA does these days, my wife and I have opted not to fly anymore. We can easily afford to fly but simply choose not to because of the intrusive nature of the searches in airports these days. Fortunately, we are finding that we enjoy driving trips much more than flying. The view may not be as grand but the detail we can see is unbeatable!  As to conditioning people to give up their liberty, I am reminded of Ben Franklin's famous quote on that: "Those who would give up essential liberty to gain a little security deserve neither liberty nor security". I am not prepared to give up ANY of the liberties due to each and every American citizen. Too many Americans have sacrificed too much to cheapen and dishonor what they fought, bled, and died for by simply giving it away.
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Pillar of the Community
United States
2168 Posts |
Yes we are on the same page. I will not fly with those terrible conditions. I would fly on a plane were no one had the new enhanced version of something that doesn't make anyine safe. I have used the Franklin quote as well to state my feelings on this. I hope that new crazy law that passed the senate doesn't get signed. Only 7 senators voted against it. Scary in my mind
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Pillar of the Community
 United States
4008 Posts |
I keep hearing a lot about the Senate signing off on the 2012 military appropriation bill but not a peep about whether or not the House has also signed off on it. It seems that they haven't, else it would be on the president's desk for signature. I have not heard that it is, so am wondering. The House will be a much tougher crowd to slip things past than is the Senate, IMO. We'll see. I don't like the idea of the US military having the power to arrest, detain, hold without warrant for an indefinite period of time, or aggressively question US citizens within US borders. That would be a police matter and one wherein the rights of all US citizens must be protected. Seems to me that the Revolutionary War was all about these very issues. If we did not like a British tyrant doing them, what makes anyone think that we will like it any better when an American tyrant does it? If they are looking for a tool to use against American citizens who are fighting against US troops on the battlefield, then that is another matter entirely. So far, though, this does not sound like it.
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Pillar of the Community
United States
2168 Posts |
I believe there is a house and senate version passed. Not on the news much. I saw the numbers vote from the senate on the scroll for Fox news. Its against terrorists and it designates US soil as a battle ground. I just recall the broad span of people that the word terrorist fits. Hope you are right.
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Pillar of the Community
 United States
4008 Posts |
Quote: I just recall the broad span of people that the word terrorist fits. If they will just broaden the definition a little more, we will ALL fit into that category. 
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Pillar of the Community
United States
2168 Posts |
exactly! pretty frightening.
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Replies: 56 / Views: 6,370 |