Pension CRASH Is Coming! – Congress’s Committee To Bail Out Pension Funds

Josh Sigurdson talks with author and economic analyst John Sneisen about the coming pension crash as a new story comes out regarding Congress’s new committee to bail out 200 pension funds!
You know it’s bad when congress is so eagerly expecting the failure of the pension system.
So-called private plans or the 1400 multi-employer plans in question are in a $553 billion short fall.
In the new, big government spending bill, congress snuck in a provision that creates a committee that allows congress to use federal funds to bail out as many as 200 multi-employer pension plans. These are plans where employees and unions jointly provide funds. Of course this is corporatism to the max.

Pensions are dependence. Unfortunately so many have been thrown into that dependence unwillingly. Individuals should save for themselves. All people should be looking to save for their futures. Unfortunately, the government and banks force people into giving part of their earnings to some centralized authority that usually employees know nothing about and are supposed to trust them to correctly manage their savings.
So instead of saving in what one has done due diligence into, some insolvent bank will make the decisions. And they are insolvent.

We recently reported on the cash to deposit ratio at banks and they are completely bankrupt. So to trust them with your money is incredibly risky.

Young people are unlikely to ever get a pension which is why it’s important young people learn about money and savings themselves and look to whatever they come to believe in.

As we approach a massive fiat crash, the likes of which the world has never seen (inevitably), it’s time people start taking real precautions and be financially responsible. There’s hardly anything more important. Self sustainability is the hallmark of freedom and life itself.

Stay tuned as we continue to cover this growing issue.

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson

Graphics by Bryan Foerster and Josh Sigurdson

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2018

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11 Comments

  • Greg ######
    Reply

    Hey Hey , The Donald was FORCED to sign the budget bill by Ivanka… Sign or else she will join the Democratic party..

  • Greg ######
    Reply

    I have it made. I can live of my vintage Enron stock , Toys are us Stock , Circuit City Electronics , Radio Shack Bonds and fully backed Puerto Rican Bonds , party on…

  • Smufter16
    Reply

    For those already retired (in the U.S.), there is no plan B because plan A is just Social Security which itself is on the ropes. A lot of people didn’t make enough to create a large savings and were told their whole lives that they would get SS and some, a pension. It is criminal what has happened. No wonder the Deep State wants our guns.

  • JOE peeer
    Reply

    what a scam,,,the money was never there ,,,,,,try liqudate any fund ,,,they all insolvent ….just paper numbers and ceo paychecks …

  • Laura
    Reply

    John if you are standing with a placard I will gladly join and help you. I keep telling people don’t support the banks , don’t keep money in the banks, don’t take credits, loans, mortgages and I am taken as a crazy person by most of the people. That would be great to stand out with placards, that’s the only way to make the banks broke: don’t support them.

  • Jos Tow
    Reply

    I guess you can save your money in your mattress, cause there is no safe place to put your money. I get robed no matter what.

  • philip ramsey
    Reply

    Here in Canada, tax laws dictate that any and all withdrawals of $10,000 must be reported to the tax department. However, after the 2008-2009 financial crises, the banks adopted a policy restricting withdrawals to $5,000 per day. A few years ago the policy was revised to only $2,500 per day. Also, the client must make an appointment to make the withdrawals and wait up to a week to get their cash.

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