Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
The Demise of Cash
>
Reply to Thread
Message:
<p>[QUOTE="Blaubart, post: 1560332, member: 37498"]Indeed, but I believe the government could care less about tracking what most people spend their money on. They want control.</p><p><br /></p><p>Take Individual Retirement Accounts (IRA) as an example. You invest money in a special account for your retirement. You get tax breaks for investing your money in such an account - either up front (traditional IRA), or on the earnings (Roth IRA). Sounds great, and they are. But, they also give a great deal of leverage to the government. There are only a few qualifying reasons to withdraw your money early from an IRA, and if you do, you get hit with some pretty severe penalties. Once you hit retirement age, I believe you can only withdraw your money on an annunity schedule. I don't think you can take a lump sum payment and take all your retirement money to another country. You can invest your IRA money into precious metals, but it still boils down to dollars in - dollars out. So, as an American with an IRA, the continued success of the country, our government, and the dollar is in my best interest.</p><p><br /></p><p>If things get worse than they already are, as a veteran and a person that values our constitution, I could see myself being one of those people participating in a revolution. But, my first priority in life is the well being of my family. I would have to consider the pros and cons of the situation and the money my wife and I have in our IRAs would weigh heavily on our decision. Basically, life would have to get pretty bad before there would even be a chance of our coming out ahead in any sort of revolution...[/QUOTE]</p><p><br /></p>
[QUOTE="Blaubart, post: 1560332, member: 37498"]Indeed, but I believe the government could care less about tracking what most people spend their money on. They want control. Take Individual Retirement Accounts (IRA) as an example. You invest money in a special account for your retirement. You get tax breaks for investing your money in such an account - either up front (traditional IRA), or on the earnings (Roth IRA). Sounds great, and they are. But, they also give a great deal of leverage to the government. There are only a few qualifying reasons to withdraw your money early from an IRA, and if you do, you get hit with some pretty severe penalties. Once you hit retirement age, I believe you can only withdraw your money on an annunity schedule. I don't think you can take a lump sum payment and take all your retirement money to another country. You can invest your IRA money into precious metals, but it still boils down to dollars in - dollars out. So, as an American with an IRA, the continued success of the country, our government, and the dollar is in my best interest. If things get worse than they already are, as a veteran and a person that values our constitution, I could see myself being one of those people participating in a revolution. But, my first priority in life is the well being of my family. I would have to consider the pros and cons of the situation and the money my wife and I have in our IRAs would weigh heavily on our decision. Basically, life would have to get pretty bad before there would even be a chance of our coming out ahead in any sort of revolution...[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
The Demise of Cash
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...