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Thread: 401k's

  1. #1
    Conspiracy Fool knightmare's Avatar
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    401k's

    Keep an eye on them, borrow half if you can before the next major correction hits........

    Crazy talk from Knightmare eh?


    Consider the "Triffin Paradox", and the fact the "Hindenburg Omen" has occurred twice in 1 month this year.

    I am not one of the gloom/doom, total economic collapse believers. But something looms on the horizon.
    ď"A wise man can learn more from a foolish question than a fool can learn from a wise answer."Ē

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  2. #2
    SG Enthusiast Easto's Avatar
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    Personally I'm a buy and hold kinda guy.

  3. #3
    HS's Proctologist triniwasp's Avatar
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    Buy low, sell high.
    Feelings about religion: I believe in a dogma-free personal Prime Mover.

  4. #4
    R.I.P. 2018-07-16 RoundEye's Avatar
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    Random Fact:

    Looking up some things on wiki to try and understand this thread better, I ran across this. Under the Bretton Woods system, Japanese Yen has changed drastically. In August 1946, 15 Yen equaled one dollar, in December 2008 one dollar equaled 92,499 Yen. Wow, thatís quite a significant change.
    Sliding down the banister of life ..........................

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  6. #6
    HS's Proctologist triniwasp's Avatar
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    Quote Originally Posted by RoundEye View Post
    Random Fact:

    Looking up some things on wiki to try and understand this thread better, I ran across this. Under the Bretton Woods system, Japanese Yen has changed drastically. In August 1946, 15 Yen equaled one dollar, in December 2008 one dollar equaled 92,499 Yen. Wow, thatís quite a significant change.
    Major inflation as opposed to the slight deflation that is occurring at the moment. Another example I heard while listening to TOTN the other day, after adjusting for inflation the price of homes between 1890 and 1990 had remained relatively the same.
    Feelings about religion: I believe in a dogma-free personal Prime Mover.

  7. #7
    R.I.P. 2013-11-22 blebs's Avatar
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    Quote Originally Posted by knightmare View Post
    I am not one of the gloom/doom, total economic collapse believers. But something looms on the horizon.
    I think you'd be best to re-analyze your thoughts on this. Impending doom is going to happen and soon. Printing money with nothing to back it up cannot possible lead to a good ending.
    Success is a lousy teacher. It seduces people into thinking they can't lose. -Bill Gates

  8. #8
    Second Most EVIL YARDofSTUF's Avatar
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    How would borrowing against your 401k help anything, it has to be paid back, right?

  9. #9
    Moderator YeOldeStonecat's Avatar
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    Quote Originally Posted by YARDofSTUF View Post
    How would borrowing against your 401k help anything, it has to be paid back, right?
    You can just take cash out, you take a tax penalty hit, but you can take out and not give back.
    MORNING WOOD Lumber Company
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  10. #10
    Certified SG Addict
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    You know government's going to just seize retirement accounts in the future.

    John brings up an important point. Water is now seen as a commodity. For example, billionaire oilman T. Boone Pickens has been buying up water rights in the Texas panhandle like mad; that ought to scare the hell out of people. A small group of rich people owning something absolutely vital to life?

  11. #11
    Assistant Admin Ken's Avatar
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    Quote Originally Posted by Burke View Post
    You know government's going to just seize retirement accounts in the future.

    John brings up an important point. Water is now seen as a commodity. For example, billionaire oilman T. Boone Pickens has been buying up water rights in the Texas panhandle like mad; that ought to scare the hell out of people. A small group of rich people owning something absolutely vital to life?
    I haven't had the 2 hours to listen to it, however someone sent me a link to C-Span where they are supposedly talking about doing just that, seizing individual retirement accounts...
    I know that a quick google of "Private retirement funds in jeopardy" did lend some interesting results...
    I did scan over this...
    http://www.globalresearch.ca/index.p...t=va&aid=19761

    Perhaps some of you have time to investigate further...
    The email:

    Private retirement funds in jeopardy

    Democrats in Washington held a recess hearing Oct 7, 2010, seeking to seize the money you have in 401K, IRA and private pension plans.. It was recorded on C-SPAN
    Following is from text summary linked below:

    " Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.

    Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci.

    In a nutshell, under the GRA system government would seize private 401(k) accounts, setting up an additional 5% mandatory payroll tax to dole out a "fair" pension to everyone using that confiscated money coupled with the mandated contributions. This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending. "

    Always check and verify Information.
    If the links Below do not function please copy and paste to view.

    Democrat's Senate Oct 7 2010 recess hearing caught on C-SPAN:
    http://cspan.org/Watch/Media/2010/10...+Security.aspx

    Text of hearing summary from Human Events,com
    http://www.humanevents.com/article.php?id=39336&s=rcmp

    Interview "Guaranteed Retirement Account" (GRA) author Professor Theresa Guilarducci by radio talk show host Mark Levin in 2007
    http://www.marklevinshow.com/Article...416&spid=32364

  12. #12
    Maneater JawZ's Avatar
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    And now this...from today...

    http://money.cnn.com/2010/10/19/mark...dex.htm?hpt=T2

    Worst day in 2 months. It's important to read why.

    ...formerly the omnipotent UOD

  13. #13
    Assistant Admin Ken's Avatar
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    Thanks for the link Uoddy. Some of the examples are quite interesting...
    Goldman Sachs (GS, Fortune 500) reported a 40% plunge in profit to $1.9 billion for the third quarter, citing "challenging" market conditions. But it still managed to beat Wall Street's lowered estimates. The financial firm reported revenue of $8.9 billion, a mild increase from the year-earlier quarter. Shares rose 2%.

    Johnson and Johnson (JNJ, Fortune 500) reported earnings per share of $1.23 on revenue of $14.98 billion. The stock sank 0.9% after company beat on profit but missed on sales.
    hehehehehe we are played as fools... 1.9 BILLION Dollars PROFIT for the 3rd quarter... That is the PROFIT for 3 months, that is a mere $633,333,333.00 PROFIT for 1 month... And that is a "PLUNGE" in profit...

    J&J is on it! Profits up on less sales! Usually one must increase sales to increase profit...

    I hope that you peeps see where to put your money...

  14. #14
    A+, Security+, Mobility+ Shinobi's Avatar
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    If you guys can recommend what I should do with my shares that I have in Vanguard prime money market I'll take a look. I've got both a traditional IRA and a 401k, I've checked other mutual funds options on both but when I look around.. seems like "none" is great to invest in, and I just keep staying where I am at now with the Vanguard prime money market.

    Any suggestions are welcomed at this point..
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  15. #15
    A+, Security+, Mobility+ Shinobi's Avatar
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    Quote Originally Posted by John View Post
    If it's a Roth, you can take the principle out whenever you like penalty and tax free.
    I thought that was after a certain age...
    _______________________________________________
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  16. #16
    Resident Atheist Dan's Avatar
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    Quote Originally Posted by nicenice View Post
    What age do u mean?
    what u do you mean ?

  17. #17
    Quote Originally Posted by triniwasp View Post
    Buy low, sell high.
    4cast

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