George Carlin was right, they're coming for youre retirement money

[Sooz]

In Oz, we call this superannuation, USA, 401K, social security you save up for on a compulsory basis.

There are moves here now in Oz, to taking those steps to take it all by stealth and may be coming sooner than you think.

Here is a maverick financial newsletter I receive in Oz. This is just one of the many I've received in the last weeks.

It just doesn't apply to Oz, it's a plan set in motion a long time ago, for every country I the world. It's coming at us at a staggering pace. (For the record I got my paltry amount out a few years ago.)

Here is the newsletter from Fitzroy Press, Melbourne, Australia: (Bold is mine).

Government ‘Super Grab’ Takes Another Turn for the Worse...
Monday, 23 February 2015
Melbourne, Australia
By Kris Sayce

Publisher’s Note: Our friends over at The Daily Reckoning have launched a brand new podcast on iTunes. Already there are six episodes including world famous trend tracker Gerald Celente, controversial forecaster Phillip J Anderson, and Money Morning’s very own Kris Sayce. There are plenty more guests from all over the financial world scheduled, so check it out now. It’s totally independent and FREE.

We wish we were wrong on this. We really do. But it doesn’t seem likely.The more we look, the more we find.And it’s all leading to the same conclusion — if you have a super fund, you’ll never see a single cent of it in retirement…

We’re currently putting together an information pack to help investors prepare for the inevitable. That is, the government making gradual moves towards taking your super fund.
We’ve warned about this for six years. And yet, even as it’s happening there are folks who don’t believe it. They think no government could ever get away with it. Well, think that way if you want. But politicians and bureaucrats are pretty smart. They know how to take money from the private sector.

And of course, they don’t do all the work themselves. Oh no. They get the public to do it for them. Simple. Government pits man against man. Look at the comments section on any article to do with changes to the taxes on super. Around 90% of them are egging the government on to ‘tax the rich’. Most of the comments say how it’s not fair that the working classes and middle classes subsidise tax breaks for the rich.

Of course, what they forget is that the ‘rich’ (the real rich), probably pay 20, 50, or 100 times in tax than most in the middle classes anyway.So the idea that they’re subsidising the rich isn’t quite right.
But that’s not the main point. Those who are urging the government to increase taxes on super don’t realise that those taxes will actually harm the middle classes more than the rich.

They don’t realise that there are maximum contribution amounts for super. They don’t realise that the real rich don’t put their money anywhere near the super system. They have their money locked up in company holdings, family trusts, and other tax effective ways of shielding their wealth from the government.

An attack on super harms only two sets of people — the working class and the middle class. In other words, the same groups who always suffer from taxes.Yet, still they urge the government on, like the bloodthirsty crowd at a gladiator fight.

You will never see your super. There’s no doubt this all plays into the government’s hands. And as you’d expect, the vested interests in the super industry — fund managers — have spotted the opportunity to move in to shore up the fight.

Take this report from the Australian over the weekend:

‘Retail superannuation funds are backing an increase to 65 in the age at which people gain access to their savings while not-for-profit industry funds want tax concessions for multi-millionaires wound back as the nation seeks to ease pressure on the Age Pension.’

No surprises there. We’re sure you can guess why the super industry wants to restrict your access to your own retirement money, right? That’s right. The long you super remains in the accumulation phase, the longer the parasites in the funds management industry can cream off 2% of your money each year.

Make no mistake, it’s a big sum of money. Think of it this way. Once you hit your ‘preservation age’, you can withdraw every last cent from your super fund. That means you don’t have to pay the fund managers a single cent in fees.

You can take the money out, stick it in a bank account, buy shares, and of course begin spending it in retirement. But as long as it stays in super, you can’t do anything with it (unless you have a self-managed super fund). Think of the difference this will have for the funds management industry if they can lock up your cash for five more years.

If you have a modest $500,000 in your super fund, odds are you’re paying about 2% in management fees. That’s a staggering $10,000 per year. If the funds management industry can keep that locked up for another five years, that’s $50,000 in fees they get to swipe. And that’s just from one modest fund.

Multiply that across everyone with a super fund below the age of 60, and you can see how much this will mean for the industry.It’s no wonder that they’re working hand over fist to lobby the government…claiming that you can’t be trusted to look after your own money…that the only safe option is to let the fund managers look after it…in exchange for an extra $50,000 in fees.

Super industry lobbies for $20 billion fee increase. But don’t just take our maths for it. As the Australian article explains:

‘The Financial Services Council told The Weekend Australian it wanted the superannuation preservation age to rise gradually to 65, citing research showing that, for every extra year of work, private superannuation savings increase by $200 billion.

‘Raising the preservation age by five years could produce another $1 trillion in retirement savings.’

The article and the Financial Services Council failed to mention one thing. 2% of $1 trillion is $20 billion in fees. That will head straight for the funds management industry’s coffers.

Don’t be naïve about this. This has nothing to do with helping you prepare for retirement. It has everything to do with the government getting its hands on your super savings. And the funds management industry is helping them do it.

Warning issued. We’ll have details on practical ways to avoid this outcome soon.

PS: If you think we’re over-reacting on the blatant attacks on super, check out this quote we came across just this morning. It’s from Professionalplanner.com.au: ‘Superannuation tax breaks for the rich is the “worst piece of public policy since white Australia”, Garry Weaven pioneer of industry funds said at Conexus Financial’s 18th annual Investment Administration Conference, held last week.’ Got that? It now seems that if you have the temerity to save you’re a racist! They’re coming for you super. You better believe it.

[Sooz]

And here is more of nuts and bolts here: (Bold is mine).

The Biggest Threat to Your Superannuation Savings in Six Years
Written on 16 February 2015 by Kris Sayce


We’re talking about a potential threat of the government nationalising your <a href="http://www.moneymorning.com.au/category/super-retirement-wealth" title="More on superannuation and retirement wealth"><strong>superannuation savings</strong></a>. Your super fund is ripe for nationalisation.
There are two ways a government can rob you.

One is through the ‘back door’.

The other is through the ‘front door’.

The ‘back door’ is inflation.

It’s quiet. You barely notice it. In fact, most of the time you don’t notice it…until it’s much too late.

Inflation is a threat to you right now. But maybe it isn’t the biggest threat. The biggest threat is coming at you from the front.

And like inflation, the race is on to avoid this threat before it’s too late…

For the past six years — probably longer — we’ve warned Aussie investors about a major threat.

It’s something that will have a big impact on the average Aussie’s plans for retirement.

When we first sounded the warning on this, folks thought we were crazy. That said we were a kook and a lunatic.

Some even questioned whether we were fit to be a financial advisor.

A lot has changed over those six years. What we warned of at the time has gradually come to pass. But it’s not over. Not by a long shot.

There’s one more act to play out in this drama, and it could happen as soon as May this year.

We’re talking about a potential threat of the government nationalising your superannuation savings.

Your super fund is ripe for nationalisation

In case you’re not familiar with the term. When the government nationalises something, it takes it out of private ownership and places it in public ownership.

In doing so, the government either won’t compensate the private owners, or they’ll have threatened nationalisation for so long that it will have already driven all value out of the business anyway.

In this case, when the government nationalises super, you’ll get nothing. Nothing that is, except a promise to pay you a pension once you reach retirement age.However, the government (whether Labor or Liberal) is too smart to do this in one step.

It will come in stages. The first stage will be the voluntary relinquishment of your superannuation. The government will make an enticing offer to convince you to hand over your super savings to the State.

The government will say that you shouldn’t have to worry about stock market volatility…and that wouldn’t it be much better if you could just enjoy your retirement without worrying about stock prices?

As we say, for many near-retirees, it will be an offer too good to refuse.

The second stage won’t be, well, as voluntary. This will be where the government invokes the need to protect a ‘national asset’, or where it demonises the middle class as ‘wealth hoarders’.The only way to rectify that is to take private super savings by force.

Of course, folks will still call us an alarmist. They’ll still say that we aren’t fit to be a fully qualified financial advisor.

But we’ll make a simple point: after everything that has happened to the world economy over the past six years, can you really put your hand on your heart and say it will never happen?

We thought not. And besides, this won’t be the first time over the past six years that an Aussie government has nationalised private savings. That’s right, they’ve done it before and they’ll do it again…

It can happen here too.

When most folks think of governments nationalising private wealth, they think of tinpot South American countries, or former Eastern European nations.What they don’t think of is Australia.

And yet, Australia has been one of the most prolific and brazen of nations to nationalise private wealth.

The biggest swipe came in 2009, when the government told the Australian Taxation Office to tax at a rate of 100% the super funds of all foreign temporary workers who had left Australia.That’s right, a 100% tax.

Now, you may think, so what, they wouldn’t want it anyway. Well, emboldened by the lack of negative reaction in the mainstream, the government went one step further.

That’s when it changed the rules on ‘lost’ super. Until that fateful day in 2012 when the government changed the law, super was only considered ‘lost’ if the balance was below $200 and the super fund couldn’t contact the member for five years.

From 2012 that changed. Now super is lost if there is a balance of up to $2,000 and the super fund can’t contact the member for one year.
In 2013, this ‘super swipe’ resulted in a $700 million windfall for the Aussie government.

Even if you were inclined to believe that an Aussie government wouldn’t take your super, based on this evidence we bet you’re starting to waver.

Make no mistake, your retirement savings are at threat. The government has a $352 billion debt pile, and a budget deficit that continues to grow. You better believe that the $1.8 trillion currently sitting in Aussie super funds is ripe for the taking.

We’ll have more to say on this throughout the week.Cheers,
Port Philip Publishing, Australia

[Sooz]

Exit plan from Superannuation.

I won't ramble on, except to say this video is not Australian-Centric, it applies globally, however the legality of exiting may only pertain to Australia. It's legal for now.

Half an hour long but well worth the time. They are coming to put the screws on us big time. Anyone who has a sizable chunk of their hard-earned money in compulsory superannuation (retirement savings), get ready.

All laid out here. And before anyone starts stomping on me, yes the company concerned asks for a $49 cost of a subscription newsletter - which you can look at for 30 days and if you're not interested, you get refunded. I can vouch for this because I signed up for a newsletter, wasn't for me, and they refunded the cost, no questions asked. Even if you do ask for a refund, the Exit plan is yours to keep. I have no financial affiliations with this company, except I receive their newsletters.

These people speak our language. Financial mavericks! I love them.

Please watch the video to the end. You may regret it if you don't. Things are moving very fast now.

http://pro.portphillippublishing.com...=MC&g=0&h=true

Sooz

Mods if you don't feel this is appropriate despite my explanation/disclaimer above, please feel free to delete.

PS: This plan doesn't apply to me, I got mine out a few years ago, because I could see it coming. But I'm warning everyone else, you may only have a small window of opportunity.

[Sooz]

Forgot to mention, Channel 7, a mainstream TV station in Oz came knocking on the presenter's door yesterday. Did an interview with him. The presenter is pretty sure it won't go to air, because it's so explosive. I mean, he basically blows the whole thing apart, with proof. You need to watch it.

Will be interesting to see what happens, if it goes to air or not. Hope he's got a pack of good guard dogs.

[Sooz]

The late, great George Carlin on the government coming for your retirement money.

Warning: Profanity.

Source: https://www.youtube.com/watch?v=ALlzClE67os

[NANUXII]

if you havent reduced your banking interest by now then your a sitting duck


quack !


N

[Tribe]

if you havent reduced your banking interest by now then your a sitting duck


quack !


N

so what do you suggest we do then NanuxII ? x

[NANUXII]

Glad you asked my dear

First thing you want to do is get an ABN and register a business name

Open a business account at a decent bank with good products.

Close all of your other accounts. DO NOT HAVE A PERSONAL ACCOUNT !! Business account only

Do not have ANY credit cards , you can do most of what a CC can do via paypal

Use only a key card that doe snot have tap and go , ie no chip

Then Write to your super people , tell them you are in financial hard ship and get your money out.

Invest that money in things that are useful like building equipment ,m mobile refrigeration, repair tools etc , what you want to do is convert your fiat currency to tangible commodities.

money is pretty much just paper .. it will yeild more for you as an asset. EG if you buy a mobile refrigerator for say 5000 and you onlly hire it out once a month for 1000 you will have paid off your asset and then doubled your money in 1 year , thats 100 % interest .. where will you get that from a bank ? because your busness earned less than 18 k per annum that money is alll yours !

no taxes... In oz that is

obviously anything over you MUST report to the ATO ... ; 0)


this is merely one example of being industrious and making easy money and staying off the grid.

N

[NANUXII]

Firther into this concept you can negate about 10 K pA by bartering services for food.

you eliminate money , like we used to do it in the good ole days.

EG : i have selected 3 or 4 ladies i train in self defence who are very good nutritional cooks , instead of paying me with money , i ask for donations of food. Its roughly the equivalent oif my time and in this transaction all is needed is time which is free , time cannot be taxed because it is a theoretical entity not a tangible item. I save about 200 of fiat paper per week , thats about 10 K PA !

Needless to say they feel great about this transfer and so does my tummy !

i have been doing this for years and save thousands and allows me to stay in natural law of my family as opposed to alternate law of ... umm well you get my meaning.

there is more to add , ill do that as soon as i remember

N

[norman]

.....Open a business account.....

A warning to all who don't know how this affects other matters................

If you start a registered business you become self employed.

If you become self employed, you snuff out a whole bunch of state "entitlements".

I'm not saying, for a moment, that you shouldn't do it, I'm saying do it with your eyes wide open.

[Sooz]

Glad you asked my dear

First thing you want to do is get an ABN and register a business name

Open a business account at a decent bank with good products.

Close all of your other accounts. DO NOT HAVE A PERSONAL ACCOUNT !! Business account only

Do not have ANY credit cards , you can do most of what a CC can do via paypal

Use only a key card that doe snot have tap and go , ie no chip

Then Write to your super people , tell them you are in financial hard ship and get your money out.

Invest that money in things that are useful like building equipment ,m mobile refrigeration, repair tools etc , what you want to do is convert your fiat currency to tangible commodities.

money is pretty much just paper .. it will yeild more for you as an asset. EG if you buy a mobile refrigerator for say 5000 and you onlly hire it out once a month for 1000 you will have paid off your asset and then doubled your money in 1 year , thats 100 % interest .. where will you get that from a bank ? because your busness earned less than 18 k per annum that money is alll yours !

no taxes... In oz that is

obviously anything over you MUST report to the ATO ... ; 0)


this is merely one example of being industrious and making easy money and staying off the grid.

N

Hi Nanu, I'm self employed, a sole trader, have an ABN (Australian Business Number), however I don't have a 'business' name, it's just my name. My name is my business name. So I have a personal account with no problems. With regard to claiming financial hardship to get your super out, it's not that easy to do. You virtually have to be almost on the street. It's a very complicated process, I tried that over 20 years ago. I got mine out when I reached 'preservation age' at 55 - there are stringent rules for that also. You must prove that you work 10 hours or less per week (semi-retirement) in your yearly tax return. However you can return to full time employment at a later date.

And Norman that may be the case in the UK, here in Oz, I can still obtain some certain entitlements. But you are right, check it out thoroughly, good point - dot your i's and cross your t's.
I'm guessing for everything is different around the world.



Sooz

[NANUXII]

A warning to all who don't know how this affects other matters................

If you start a registered business you become self employed.

If you become self employed, you snuff out a whole bunch of state "entitlements".

I'm not saying, for a moment, that you shouldn't do it, I'm saying do it with your eyes wide open.

can you list them and in which jursidiction because thats not the case here.

N

[NANUXII]

Hi Nanu, I'm self employed, a sole trader, have an ABN (Australian Business Number), however I don't have a 'business' name, it's just my name. My name is my business name. So I have a personal account with no problems. With regard to claiming financial hardship to get your super out, it's not that easy to do. You virtually have to be almost on the street. It's a very complicated process, I tried that over 20 years ago. I got mine out when I reached 'preservation age' at 55 - there are stringent rules for that also. You must prove that you work 10 hours or less per week (semi-retirement) in your yearly tax return. However you can return to full time employment at a later date.

And Norman that may be the case in the UK, here in Oz, I can still obtain some certain entitlements. But you are right, check it out thoroughly, good point - dot your i's and cross your t's.
I'm guessing for everything is different around the world.



Sooz

There is a long and drawn out explanation why you should not have a personal account , if you want to trust me then please do so however Personal accounts come under different tax laws and are easier to steal from if they want to put theoir hands on yo0ur funds.

A business account is just that , the money is not personal , the money ius for business and is taxable under that charter. When you get into any legal problems with money , and i hope you don t, you will get pulled yup on that.

Regarding rules and regulations , there is no law that is in mercantile commerce that is legally binding other than contracting and admiralty laws ( which are made up as they go along ) . So really each case is a case by case if you punch it hard enough. eventually you can get your way , you just have to have a bit og guts and tenacity.



N

[Sooz]

There is a long and drawn out explanation why you should not have a personal account , if you want to trust me then please do so however Personal accounts come under different tax laws and are easier to steal from if they want to put theoir hands on yo0ur funds.

A business account is just that , the money is not personal , the money ius for business and is taxable under that charter. When you get into any legal problems with money , and i hope you don t, you will get pulled yup on that.

N

OK, well you seem confident in what you are saying. I will check it out further with my accountant. Thanks Nanu!

Never knew about this. Something new to learn every day eh?

[Sooz]

Today I received a 'Get Up' petition. An Australian group. I've always been leery of them and who exactly is behind them. Jackovesk on PA provided an excellent expose of them some years ago. Can't find it now.

Point being, the petition in question was to sign against the government drastically reducing the old age pension in years to come. And I mean, drastically. Who would not want to sign the petition? So I did.

Next thing pops up, another linked petition to sign FOR the taxing and looting by the government on Aussies superannuation savings! Talk about wolves in sheep's clothing. You've really got to be on your toes with these snakes.

If you don't know what I'm talking about you need to read back over this thread and watch the video Genesis 47.

Point being, 'Get Up' and the mainstream media are manipulating people. Next thing, the gubbermint will point to the petition where it was linked with the second one, to say millions of people supported the taxing and looting of ordinary, hard-working people's superannuation accounts.

They must have Edward Bernays books on all their desks.

PS: One thing I know for certain, my son who has just started an apprenticeship, will never see his earned income (deferred income already earned, put into compulsory superannuation),
in his lifetime. It will all be swiped. I think it's 12% of your income at present. Who knows how much it will be in 10/20 years - 25%? - 50%? On top of increased taxes as well?

They really want us poor and preferably dead. And they will try to make vaccines mandatory - you will die of something in the shot, but not before they leech the rest of your hard earned retirement money on big pharma, so you can't leave the little money you have left, to your kids.