We have lost almost everything INT2024

I was sitting on my front porch trying to figure out what I could do to protect my retirement and family's assets.

Backstory:

One week ago the President had gotten on the news and television broadcast to announce the USA was 33 trillion in debt and the interest payment on that amount of debt was unsustainable. Therefore all retirement and savings accounts were as of now frozen while a 90% tax was figured on each account.

IMO a tax is just a nice way of saying we are stealing from you especially in this instance.

As if the debt was not enough the Russians and the Chinese had called in the debt owed to them and there was only one way to pay the debt off; that was if all Americans and account holders in the USA helped pay off this debt with the money they had been saving and hording. Considering how the Congress approves and funds the finances and workings of the government if it were me I would start with the people who had been in office for a short time yet on a government salary were now multimillionaires!

“Oh I forget nothing to see there !”

I had been retired now for a little over 20 years and while not rich we lived comfortably. Our house was paid for and we owed nothing to anyone (except for the yearly State and Federal taxes for living and breathing) we paid cash for 'whatever' or did not buy anything..

The president had said Social Security would be increased by 10% to help offset the retirement funds that were being taxed out of existence and furthermore all money would now be digital.

“Big whoopty doo !”


Sitting in silence and waiting for a moment of lucidity to my dilemma was evidently not working and I was all out of fortune telling crystal balls.


The only good news was we were out in the country because according to the news, the riots and clashes of the people against the current government enforcers was going full blown mayhem and chaos ! The banks were being broken into and even set on fire when people could not get “THEIR” money back from “THEIR” accounts. Protest were popping up everywhere and so were the armed enforcers .


The modern world is so interwoven with the accumulation of wealth or cash on hand that once the wealth pillar is remover from society it is like one of the legs of a three legged stool is violently removed.


I am afraid this really is THE END

a reply to: 727Sky

and I was all out of fortune telling crystal balls

... but then you remembered you still had a ...

Magic 8 Ball



Cheers

a reply to: 727Sky
Come ON! Get real!
This section is supposed to be fictional, maybe either something unimaginable!

a reply to: 727Sky

A sad story. I wish it was completely fictional but unfortunately it isn't.

This is what happened on Cyprus in 2013 during the financial crisis, albeit it wasn't so drastic. I don't remember the details but finally the uninsured deposits over 100 000 euros were wiped out. The EU officials forcing the bail in thought they were hitting Russian oligarchs but 100 000 euros isn't all that much if you're a business owner, even a small one. It was mainly more affluent Cyprus citizens that lost a considerable sum of their money.

The government doesn't have to literally take your money. Big financial recessions are largely unpredictable and even without it banks can go bankrupt.

Not so long ago, one of the biggest banks here fell down. It didn't go bankrupt because the central bank and the government intervened on time and restructured it. The deposits up to 100 000 euros were rescued but many of the bank clients lost their money which they invested in bank bonds. The bonds and shares weren't guaranteed so the money simply evaporated. The bank owner's story is almost biblical. The guy built one of the highest skyscrapers in Poland called the Sky Tower before his financial empire crumbled down dragging thousands of the people who trusted him down to the bottom.

God spoke again.

a reply to: twistedpuppy

What was particularly vile was how the EU suddenly decided that Cyprus Euros were not worth as much as other Euros (like German Euros).

I am amazed at how many times the EU has displayed ruthless behavior, and yet, all national establishments carry on as if everything is perfectly fine.

Cheers

a reply to: 727Sky

That's a terrifying prospect, 727Sky, albeit, real as other members have stated.

a reply to: 727Sky

Touched me as I am in that predicament. Have to sell the retirement farm and find another alternative lifestyle. Not easy at my age.

Kind regards,

Bally)