MyRa – Infinite Unknown

In 2013 The Fed Bought 150% More Treasurys Than All Foreigners Combined

February 19, 2014 by Infinite

– In 2013 The Fed Bought 150% More Treasurys Than All Foreigners Combined (ZeroHedge, Feb 20, 2014):

Now that we have the full history of foreign Treasury purchases in 2013, we know the following: in December 2012 total US paper held by foreigners was $5,573.8 billion; one year later it rose to $5.794.9 billion or a $221 billion increase. So how does this look in the context of QE? In the past year, courtesy of the Fed’s $1 trillion in TSY and MBS purchases, Ben Bernanke purchases some $552 billion in Treasurys, or about 150% more than all foreigners combined! Suddenly the need for MyRA is becoming all too clear…

And as a bonus chart, here are the top holders of US paper as of December 31, 2013.

Read moreIn 2013 The Fed Bought 150% More Treasurys Than All Foreigners Combined

The MyRA Propaganda Begins: ‘A Start To A Secure Retirement’ Promises Treasury Secretary

January 30, 2014 by Infinite

“By the skillful and sustained use of propaganda, one can make a people see even heaven as hell or an extremely wretched life as paradise.”
– Adolf Hitler

Related info:

– IRA Confiscation: It’s Happening

– Obama Introduces MyRA: The ‘No Risk, Guaranteed Return’ Retirement Savings Bond

– The MyRA Propaganda Begins: “A Start To A Secure Retirement” Promises Treasury Secretary (ZeroeHedge, Jan 30, 2014):

You didn’t think the US could at first slowly, and then all of a sudden, expropriate retirement accounts and invest them in the “no risk, guaranteed return” MyRA Ponzi scheme introduced by Obama during the State of the Union address without lots of behavior-modifying indoctrination in the “friendly press” first now did you? Sure enough, here is the first major propaganda salvo, coming from none other than the US Treasury Secretary, Jack Lew, which will be published tomorrow across the McClatchy media empire.

Read moreThe MyRA Propaganda Begins: ‘A Start To A Secure Retirement’ Promises Treasury Secretary

IRA Confiscation: It’s Happening

January 30, 2014 by Infinite

– IRA confiscation: it’s happening (Sovereign Man, Jan 29, 2014):

I have an old acquaintance named Sam who has a hell of a deal for you.

Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately… but he’s trying to make a comeback. And Sam is prepared to float you a really great investment opportunity.

Here’s the deal he’s offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return.

Granted, the rate of return he’s promising doesn’t quite keep up with inflation. So you will be losing some money. But don’t dwell on that too much.

Read moreIRA Confiscation: It’s Happening

Obama Introduces MyRA: The ‘No Risk, Guaranteed Return’ Retirement Savings Bond

January 29, 2014 by Infinite

– Obama Introduces MyRA: The “No Risk, Guaranteed Return” Retirement Savings Bond (ZeroHedge, Jan 29, 2014):

Earlier today we hinted at what was coming in “Obama To Unveil Treasury IRAs.” Well, here it is, and it even has a catchy name. Presenting: the MyRA, and since it offers “guaranteed return and no risk” we now know where all the Fed’s bond trades will go to work once QE ends.

From the president:

Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can…

Or put another way – if you like your retirement account you can keep your retirement account.

And just like that, the “automatic” continuity to the Fed’s Quantitative Easing is ensured.

Read moreObama Introduces MyRA: The ‘No Risk, Guaranteed Return’ Retirement Savings Bond