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The Government is Now Robbing From Government Pension Funds
The government is already technically over its debt limit and they’re due to vote on Obama’s request to increase the country’s debt limit by over $1.2 trillion on Wednesday.
Meanwhile the Treasury has started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills, according to Reuters.
The Treasury Secretary confirmed all of this in his letter to the Democratic and Republican leaders in Congress.
So first the government robs Social Security that you and I are forced to pay into…yet we may or may not get payment back out of it one day. Then they fund government employee’s pensions only to rob from them too.
So the question remains…what’s next? Or rather, who’s next? Will it be your IRA or 401k? Those are some huge pools of money to tap if the government gets that desperate.
One again, this is why you need some money outside of the U.S. and its dollar.
Also, as it becomes more evident that the U.S. government is getting more and more desperate for cash, it will crush the investor sentiment for the U.S. in general and the greenback.
This is why I love trading currencies. It gives me control over what would normally be “uncontrollable” to me. We can’t stop what our government/central bank does to our dollar…yet we don’t have to let it erode our own wealth if trades are taken in a timely fashion against the buck with fundamentally sound foreign currencies.
That’s what my subscribers and I are doing right now. We’re up over 160 pips as we’ve bought the New Zealand dollar vs. the U.S. dollar (NZD/USD). As the greenback slipped relative to it, we put money in our pockets.
We just entered another trade that we’re already profitable on (just one day later) that doesn’t even involve the U.S. dollar in the equation at all. So there are many ways to profit in the currency market…the important point is to take action and not sit idly by while the government erodes your wealth and takes you into poverty.
Sean Hyman
My E-Book
info@worldcurrencywatch.com
Editor, Currency Cross Trader
Other Posts from the Author
- What's happening in Greece could happen in America if we're not careful! - February 15th, 2012
- Oil Heads Higher as Super Tankers Stop Shipping Iranian Oil! - February 14th, 2012
- Revisiting the Iraqi Dinar Issue Again... - February 13th, 2012
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Tags: bernanke, buck, congress, crisis, currencies, currency, currency cross trader, currency trading, dollar, dollars, escape, Fed, federal reserve, FOMC, foreign currencies, foreign currency, foreign exchange, forex, Freedom, fx, geithner, greenback, Liberty, Obama, pension fund, sean hyman, sovereign investor, sovereign society, spot forex, spot fx, treasury, treasury secretary, USD, world currency watch
Great article. Isn’t this the same thing Corzine did at Joint Global or am I missing something.