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View Full Version : Pensions in BIG Trouble Now




freelance
05-01-2008, 12:40 PM
From Jim Sinclair:

Dear CIGAs,

I received a very important call from a steel worker who just received a DEFICIENCY NOTICE from his pension plan. I understand that the Teamsters Union has sent out the same notice to its members.

I would like to add another item that needs to be attended to. Those of you that have the ability to withdraw from your pension plans do so immediately, hopefully at the last stated value as many of these entities are up to their nose in SIVs and multiple other forms of derivatives.

What a mess. Nothing has changed.

This type of a situation will help to increase the Federal Budget Deficit, putting more weight on the US dollar. What happens to the US dollar happens to gold inversely.

http://www.jsmineset.com/

wirenut
05-01-2008, 03:59 PM
http://www.youtube.com/watch?v=Q0LyskhbcHA&eurl=http://www.tickerforum.org/cgi-ticker/akcs-www?post=42805

Zippyjuan
05-01-2008, 07:48 PM
If it is a pension plan, you can withdraw- as in agree not to take any money out when you retire, but you cannot take out any benefits you have qualified for ahead of time. They are not like a 401k that you can transfer somewhere else.