Kiss your pensions goodbye!

[biggie24420]

Here is some wonderful news for ya'll to read and enjoy....bon appetit!
» Fed Court Rules Banksters Can Steal Pensions Alex Jones' Infowars: There's a war on for your mind!

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[Kevatc]

Here is some wonderful news for ya'll to read and enjoy....bon appetit!
» Fed Court Rules Banksters Can Steal Pensions Alex Jones' Infowars: There's a war on for your mind!

I FLUFFED UP... PLEASE MOVE TO APPROPRIATE SPOT....tx.

Alex Jones = tin foil hat.

 

[aaronf]

Alex Jones sells conspiracies for a living and banksters is a silly word

 

[Burt Gummer]

"They are coming for your retirement funds so they can give them to their criminals friends on Wall St; and they'll get them to, because they own this bubbleguming place." - George Carlin RIP

In a nutshell, retirement funds held by a bank are the property of the bank and not yours to take in the event of a partial or full financial collapse. Enjoy your retirement!

The idiotic boob tube watchers and gov worshippers really do deserve what is coming to them. It will be horrendous for some, not so bad for others that saw what is coming.

Our Founding Fathers wore themselves out warning about the fact that banks and lending institutions were the worst real enemies this nation faced and that if they were not held in check they would do more damage than any standing armies. Some people are just too consumed with their day to day BS to recognize that until it is too late.

 

[jbett98]

My retirement plan is a massive heart attack.

 

[jimboshooter]

Burt may be right. Think about a situation where Social Security collapses, the government is so debit ridden that they have to increase taxes over and over and debt service is the majority of government spend, business continues to stall under oppressive taxation and regulation and banks fail again (remember banks are stupid and never learn thier lesson).

The government could seize all retirement funds and under the threat of the guise of "government and retirement is too big to fail" and merge private retirement funds into a social regime. Selling this dispicable move as "we are saving you dumb citizens from yourself and from the rich." Do you think all those people who vote in politicians who service lazy constituents with class warfare and free services are going to vote politicians out who support this? Sometimes it seems like lazy people seem to outnumber self-reliant people. Not say this is a certain future, but not out of the realm of possibility and definately possible in the near term if the right (or really wrong) things happen.

Now to bring this back to forum related: Guns and ammo may be a worth a lot under that situation. This site may well become your retirement planning site, not just your guns, ammo and where do I go shooting site!

 

[pokerace]

some of it's true.Local paper mill is in bankruptcy none of the potential buyers want buy if the have to take on the pensions..

Newberg Graphic --Newberg Or.

Bankruptcy — Workers at SP Newsprint will be retained, but buyer wants to slash millions in pensions
By: Tyler Francke Published: 8/21/2012 1:56:56 PM

SP Newsprint Co. LLC and a number of its subsidiary companies have agreed to sell their assets — including an integrated paper mill in Newberg and the lease on a recycling facility in Clackamas — to their primary creditor in a Chapter 11 case before a U.S. bankruptcy judge in Delaware.
According to Ken Hardwick, Oregon area representative for the Association of Western Pulp and Paper Works (AWPPW), the buyer, General Electric Capital Corp., plans to continue regular operations at the SP News*print mill in Newberg, which he estimated to employ around 240 plant workers and office personnel.
“They want to continue it under the new owner,” he said. “They want to make it a going concern for many decades to come.”
However, Hardwick said that while GE Capital, a financial services subsidiary unit of General Electric, has agreed to retain the plant’s current employees, it does not wish to honor all of the terms of the contract that the mill’s previous owners made with the local AWPPW chapter in 2008.
“The contract had two years left on it,” Hardwick said. “But they said they’re going to honor some of it, and some of it they’re not.”
According to Hardwick, that would mean the elimination of a number of benefits, including pensions and severance pay. He said it also means workers will not be receiving the wage increases they were promised this year by SP Newsprint. That’s unwelcome news for many of the mill’s employees, whom Hardwick said accepted a 15-percent pay cut three years ago and later gave up two contractually stipulated raises to help the plant stay afloat.
According to the court record, the Pension Benefit Guarantee Corporation (PBGC) objected in an Aug. 16 filing to GE’s plan to cut the approximately $76 million owed in employee pensions. GE’s attorneys responded, saying the decision was authorized by U.S. bankruptcy law as a way to entice buyers to maximize their purchase price, thereby enhancing the probability that all creditors will be repaid.
“Quite obviously, if the debtors are unable to sell their assets free and clear of the PBGC’s approximately $76 million pension claim, any purchaser (assuming one could be found) would correspondingly reduce its purchase price by that amount, dramatically slashing the proceeds available for distribution to the debtors’ creditors,” GE’s Delaware, Chicago and New York City-based legal team wrote in its response.

 

[biggie24420]

Alex Jones = tin foil hat.

I would recommend you do some research on Jon Corzine and MF Global.... I can understand how it may be easy for you to just hop on here and make such a comment. If you have a family and or kids, I think you owe it to them to take a few moments and do some research. Even if you don't have family and kids, I think you owe it to yourself to do some research on the above mentioned topic. I'm not here to star fights and to be honest anything you have to say will not hurt my feelings.... keep an open mind because you just might learn something. If we don't study history, we are doomed to repeat it. I don't warship Infowars or Alex Jones.... I just do the research as best as I can and come to my own conclusion.

 

[davemata]

Alex Jones = tin foil hat.

Yeah, that guy is amazing. He gets everything wrong.

 

[Burt Gummer]

This is just the attitude, that those in power wish all the people in the USA had.

98% do, so they can do whatever they please. (Your list is short, there are dozens of examples right up to present day)

That is why it is a lost cause and the middle class is done. Soon there will be the ultra rich and the extremely poor only. Right now most people are in clandestine slavery via debt, but they will get a taste of what in your face real slavery is like when they are begging for a cracker.

Corruption from the inside is always what eventually kills an Empire. We are no different.

When you are living in the first third world industrialized nation know that the apathetic, deluded individual to your left and to your right escorted you there. There has never been a more lemming populace in modern human history. Truly a Matrix so to speak.

I used to try and wake up the drones but it is hopeless. They cling to the false freedom crap via puppet A vs puppet B. They have no clue that there lives are completely directed and that their so called freedoms are an illusion.

Worry about numero uno, use your knowledge for yourself. Stay safe my friend.