Government and Pension Funds
US Government RAIDING Pension fundsFeb 15, 2012
When a government runs out of money they start to do irrational things. We've seen it happen in Greece and in other parts of the world, but it is now hitting home. With the debt ceiling being breeched again, Tim Geithner last Tuesday dipped into the Federal Employees Pension Fund. Why? Because the US Government has run out of money. Will they pay it back? NO!!!! Why? Because they have run out of money. This is a serious event, which calls for an immediate response.
US government taking over our private pension plans?Jul 28, 2011
Bob Chapman's website is: theinternationalforecaster.com News articles about US government wanting to take over private pension plans. jessescrossroadscafe.blogspot.com sovereignsociety.com www.wnd.com My SilverSaver site: silversaver.com
THE GREAT PENSION FUND HOAX - Corporation Nation 2Feb 20, 2012
***I posted this on July 14, 2011 - 7 days ago. On day 1, the hit counter went to 301 views in about two hours and stayed there for 6 days. Today, at 400 views, I know what it feels like to be censored. I've no idea how many have actually seen this. Talk about frustration... This 4 hour presentation is part 2 of the Corporation Nation series. While a shorter, condensed version will be released soon, The Great Pension Fund Hoax is presented as documentary evidence of corruption and greed within our government and as a reference work. This is not for entertainment. Understanding this information about the Comprehensive Annual Financial Report (CAFR) system of accounting in government will answer the question that has eluded you for so long, just as it did me... Why? Why do corporations get away with murder? Why does government allow this to happen by passing laws and regulations, and deregulating the very framework that these corporations operate within, both nationally and internationally? Why are We, the People suffering at the hands of this oligarchical government, while our taxpayer dollars are being used against us? And why does there seem to be no difference between the private sector and the public one? Answer: Because government owns it all!!! Note... I am mad as heck that after hours of self-editing, and two full days to process this final version, I had one misspelling at the worst possible spot. Please don't tear me apart for this, it is of no benefit to anyone ...
Cot-Side Chat: Chaffetz Opposes Bailout of State/Local Government Employee Pension FundsJan 14, 2011
The PSERS Crisis - Pennsylvania's Public School Employees Retirement System (aka the Pension Fund)Aug 27, 2010
Friday, December 11, 2009 began what may be a catastrophic era for Pennsylvania taxpayers. The Board of Trustees of the Pennsylvania School Employees Retirement System (PSERS) voted to increase the employer contribution rate to 8.22% of payroll for 2010-11, a 72% increase from this years rate. Those percentages will continue to climb, reaching a projected rate of near 30% of payroll by 2012-13 and are estimated to remain above 20% for nearly two decades. How much will school property tax bills increase in order to fund this projected spike and ensuing plateau? How could it harm our childrens education, our childrens school environment and other community programs? PSERS is a governmental, mandatory, multi-employer, defined benefit pension plan for Pennsylvania school employees. It was established in 1917, and is one of the oldest public pension plans in the United States. There are currently 739 school employers enrolled in PSERS, serving more than 547000 members, including those who are active, retired, vested and inactive. A number of factors have led the system to the precarious fund balance position it currently holds. Government intervention, declining investment returns and the continued sluggish economy have all contributed to the dilemma. PSERS is funded from three sources: employee (member) contributions, employer (school district and state government) contributions and investment earnings. (The "employer" share is, of course, the taxpayer portion of the cost ...
Veronique de Rugy on the Truth About the State Pension Crisis on BloombergFeb 10, 2012
We can argue endlessly over precisely when unfunded state and local pension plans will run out of money. But there is one issue where there is no room for debate. Once the pension plans run out of money, the payments will have to come out of general funds, meaning out of the pockets of taxpayers. If the states want to avoid this, they must push through reforms as soon as possible. In her weekly appearance on Bloomberg TV, Reason columnist Veronique de Rugy explains the truth about the state pension crisis by separating economic myth from economic fact. Myth 1: Unfunded state pensions do not represent an immediate threat and are therefore not in crisis. Fact 1: In the best case scenario, some state pension funds will run out as soon as 2017. And the longer the states wait to fully fund their pensions, the more drastic the financial consequences will be. Myth 2: State debt accurately reflects state liabilities. And state default is not a concern because the federal government will bail the states out before they reach that point. Fact 2: Many government pension liabilities are kept off the books, so most states and cities underestimate their actual debt. Myth 3: State and local workers are not overpaid. And even if they are, changing their compensation won't make a difference. Fact 3: While this is a complex issue, the total compensation package for state workers does tend to exceed that of their private-sector counterparts. Myth 4: The financial crisis, which caused a ...
Argentina Seizes Pension FundsNov 05, 2011
STORY: From the floor of Argentina's stock exchange, traders watched as the country's benchmark index continued its plunge on news that private pension funds could be nationalized. President Christina Fernandez signed a controversial bill on Tuesday that would allow a government takeover of some $30 billion in pension funds. [Christina Fernandez, Argentine President]: "We are, sincerely I believe, at the end of an era at the world level, and I believe that what we are doing here today is a strategic decision in this international framework." The announcement drew applause - and drumbeats - from some who said the nationalization would guarantee pensions at a time of global market turmoil. But critics see the plan as a money grab for a tight budget year as a drop in commodities hits one of the world's top exporters of grain. Some workers took to the streets of Buenos Aires in protest. [Aida Bergerot, Protester]: "We are 11 thousand employees with families, and no one is giving us any explanation." Argentina suffered the largest ever government default in 2001. Its debt obligations are expected to reach $12 billion in 2009. The country has a history of raiding pension funds, leading to doubts the government would protect retirement money. The bill must still clear the nation's Congress, where it faces a bumpy ride.
Government Dipping into Pension Funds, Pushing US Closer to a DefaultJan 27, 2012
Capital Gold Group is a BBB Accredited Business. Listeners are welcome to receive a free precious metals guide by going towww.startwithgold.com or call 1(800)510-9594. If you'd like to listen to the rest of the show, visit StartWithGold.com to subscribe to the podcast. Washington reports that treasury started dipping into federal pension funds to get more credit for Obama administration more credit to pay bills. As a result, some analysts predict that this will be the worse economic downturn since 2008 crisis. This borrowing, coupled with the European crisis, are making people head towards Gold for security and stability.
ARGENTINA SEIZES PENSION FUNDS TO PAY DEBTS. THE US IS NEXT...Jan 18, 2012
Failing to seize the OFF-Balance sheets of banks holding bad OTC Derivative debt will force your Government to act this way. Here is a warning to us all. The Argentine state is taking control of the countrys privately-managed pension funds in a drastic move to raise cash. It is a foretaste of what may happen across the world as governments discover that tax revenue, and discover that the bond markets are unwilling to plug the gap. The G7 states are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice.
CalPERS Aristocracy - Public Pension Reform ParodyDec 16, 2011
Thousands of retired government employees are getting pensions of over $100,00 per year, and us taxpayers have to pay for them. See how it happened. And see how they live. This a paroday in the spirit of those "Downfall" parodies where I got the original idea. Thanks to GodzillaPERS for giving me advice about editing and uploading this video. Check it out at www.youtube.com
Ros Altmann on Bank of England stealing from pension funds via QE (09Feb12)Feb 13, 2012
The director general of Saga, Ros Altmann, comments on the disastrous state of the UK's private sector pensions, as the government and Bank of England continue their deliberate rape of savers cash, to bailout feckless borrowers, and make the bankers and politicians even richer. YOU will stay in the poor house forever, while the bankers and politicians got rich in the biggest financial crime in the history of planet Earth. Sorry Ms Ros, the Bank of England knows VERY WELL what it is doing with Quantitative Easing, it is making bankers and politicians rich beyond dreams, they DON'T CARE about you little people. Recorded from BBC Breakfast, 09 February 2012.
Fletcher Plan for Wisconsin - "Audit the State Pension Fund"Sep 14, 2010
The Fletcher Plan for Wisconsin to keep the Badger State "Moving Forward". 7. Our State Employee Pension Fund currently has $87 billion in the fund. We are the 20th largest state, but the fund is the 9th largest in the country and the 24th largest public or private pension fund in the world. The fund includes $6 billion under the management of a board appointed by the governor at the cost of $30 million a year. This board (of five people) needs to be dissolved and the funds added back to the pension trust fund (State 2009/11 budget pg. 289). The state pension fund must be audited to insure solvency and to ensure it is not over funded. Taxpayer savings of $30 million per year at this time. The audit will increase these savings upon its completion.
Max Keiser - $140 Billion for Bank Bonuses Come Directly from Pension FundsJul 20, 2011
RT.com AND http Max Keiser describes how that by keeping the interest rates low, the retirement savers are victimized by the speculators who coerce the government into keeping them at low rates than get bailed out by the public when they fail with their risk taking.
Top 15 Holders of US Public DEBT - Whom does the US owe?Feb 18, 2012
Top 15 Holders of US Public Debt - Top Creditors From whom does the US borrow money to fund its programs and services? © The Economist www.cnbc.com 1. The Federal Reserve 2. China 3. Other Investors/ Savings bonds 4. Japan 5. Pension Funds 6. Mutual Funds 7. State and Local Governments 8. United Kingdom 9. Depository Institutions 10. Insurance Companies 11. Major Oil Exporters 12. Brazil 13. Caribbean Banking Centers 14. Taiwan 15. Switzerland
GovGuam Retirement Fund Joins US Based Pension Funds To InJul 06, 2010
The Government of Guam Retirement Fund is one of three US based pension funds filing a complaint against the Lehman Brothers Holding Inc. In this case the leading plaintiff, The Northern Ireland Fund is seeking to recover damages for its investors, Guam being one of them. Joe T. San Agustin chair of the GovGuam Retirement Fund says shares lost are minimal, but every penny counts. San Agustin adds the status of the case is ongoing, and the retirement fund isn't in jeopardy.
