Pension Fund Scam

Discussion in 'Money, Investing & Precious Metals' started by wallstwench, Feb 4, 2011.

  1. wallstwench

    wallstwench Active Member

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    I'm probably the only person on Wall St willing to tell anyone the truth about how we've been stealing from you since the market's inception. I am a stock broker with 17 years experience and I just woke up 6 months ago to how the industry I have loved so much was robbing people blind. I am now advising everyone I know to cash out.

    Several people have requested, after reading my intro thread, that I share my knowledge with everyone. It's going to take me some time to send out all the extensive research I've done in the past 6 months. I'm going to send out some of the emails I sent my loved ones, so do note the date I wrote some of them.

    Sent 11/22/10:
    Guys,

    Here's an article talking about how the Europe's Pensions are in trouble. I find it very peculiar that they refer to a pension as a "scheme" but maybe that was the plan all along. After you read the first article, I want you to read the next one that talks about Argentina nationalizing their pension funds following a bankruptcy. As I noted a few weeks ago, every entity in the market is stuffed to the gills with T-bills making the US citizens and our companies the largest holder of US debt. We own 66% of the $14.7 trillion. If treasuries go bust, they will take our retirement funds with them. Remember China just downgraded our credit rating siting "it's deteriorating debt repayment capability and drastic decline of the government's INTENTION of debt repayment."

    There is a book titled "The Creature of Jekyll Island." The guy that wrote this 10 years ago didn't do it to expose any conspiracy. He did it as a matter of digging up factual historical events, how the Federal Reserve came to be, and who exactly created it. 10 years ago he wrote "Beware of the Bailouts." Pull up one of his lectures on Youtube. The guy doesn't point the finger at anyone. He doesn't get angry. He calmly directs you to the truth. The Fed is not a government entity. It's officials are not elected by the citizens. They have never been audited. They don't pay taxes. They are in charge of our money, and responsible for a global currency, and they are not accountable to a single soul.

    WE ARE BEING SET UP!

    "Is Wall St Rigged?"- this was the title of a panel discussion on CNBC a few hours ago. I started joking about it on the trading floor and I was told by my boss that I needed to stop. It's my job to know what's going on in the market and I was told that if I didn't stop talking soon I would be "taken away by men in black suits." So, at the advice of close friends, I will refrain from speaking my mind at work, but I won't stop talking to my friends and family until everyone I know and love has their money away from the people behind this "Scheme." So if I'm willing to risk my job to wake you guys up, you have to believe that what I'm saying is true, and I need you guys to spread the word. Don't stop talking about it until your friends and family have made some safer choices.

    Article publshed 11/18/10 in a paid subscription of mine called "Risk.net", so unless you pay, you won't be able to find it:

    Large pension funds a threat to financial stability – European Commission
    European Commission says pension funds should also be classed as “too big to fail”
    Pension funds are just as able to go bankrupt as banks and insurers and therefore the largest organisations are a threat to financial stability and need to be added to the list of entities deemed to be "too big to fail", according to the head of the European Commission's (EC) financial institution and financial stability unit.
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    Speaking at a conference in Frankfurt, Benjamin Angel said in countries such as Norway, the Netherlands, the UK and Ireland, where pension scheme assets represent as much as 120% of gross domestic product, pension schemes enjoy an implicit state guarantee.
    "It is impossible to imagine that if a large pension fund went bankrupt the government would step back and do nothing, if so there is the potential for social unrest", he said.
    He also pointed to the fact that across Europe pension funds account for about 30% of total government bond holdings, thereby making the sector extremely vulnerable to any sovereign default. According to Angel, this scenario is more likely to occur due to pension-related issues – he highlighted the increasing funding gap in pay-as-you-go pensions systems.
    But Angel's views were rejected by Loek Sibbing, managing director of Rotterdam-based Unilever Pension Fund, who pointed that in contrast to the banking and insurance sector no pension scheme required a government bailout in the recent financial crisis.
    "If a pension fund is facing problems it has the option to increase contributions or reduce the benefits it pays – I just don't understand how you can say pension funds can go bankrupt in the same way as banks and insurers," he said.
    Speaking on the sidelines of the conference, other pension practitioners expressed bemusement at the characterisation of pension funds as too big to fail and potential subjects of bankruptcy.
    But Karel van Hulle, head of the insurance and pensions unit in the EC's financial institutions division, was trenchant in his support of Angel, expressing "surprise" at Sibbing's views. "I can't see why a pension fund can't go bankrupt – if an employer can't give money to a pension fund someone has to pay or it goes insolvent. It's quite simple."
    However, professor Eduard Ponds, head of research and innovation at Amsterdam's APG's All Pension Group, said large pension funds provided stability by acting as a "big brother" to their smaller peers. "Small pension funds are protected by the existence of larger schemes – because the same rules apply to all and the government can't push around large funds."


    Private pension funds nationalization shocks Argentina
    Private pension funds nationalization shocks Argentina — MercoPress

    Next is what German Banks propose. I'm attaching the link just in case anyone wishes to verify my craziness, but you don't need to read it unless you want to. Here's the gist of it:

    Hedge Registry, Swap Trading, ?Rascals': Compliance - BusinessWeek
    German lenders including Deutsche Bank AG support proposals by the country's government to make private investors share the risk of holding euro-area bonds.
    Investors getting higher returns from riskier debt shouldn't be able to count on bailouts, Deutsche Bank management board member Juergen Fitschen said at a conference in Frankfurt Nov. 19, describing the situation as “moral hazard at its best.”

    Germany, Europe's largest economy, is proposing a permanent crisis-resolution mechanism that would make private investors participate in bailouts, including haircuts, on sovereign debt after 2013. The proposal comes as the European Union discusses support for Ireland and its banks, trying to contain the debtcrisis from spreading to other countries in the euro area.

    I want to throw up. That's as much as I can stomache for today. Don't wait until it's too late everyone.

    Jackie
     
    Last edited by a moderator: Feb 5, 2011
  2. piglett

    piglett Well-Known Member

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    Rome fell from within,so will we....sad but true
    when a tree is rotten on the inside but looks fine on the outside
    it is know as "hollow hearted" the US is just like that
    the tree looks ok on the outside but one big windstorm & it all crashes to the ground


    piglett
     

  3. jungatheart

    jungatheart Beginner's Mind

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    They say some companies are too big to fail but I guess there isn't anything too big to steal from.