Submitted by Simon Black of Sovereign Man
It's Another Assault On Retirement Accounts
When we was a kid, it was a large treat when the postman came around. He was an critical human carrying critical papers from far divided lands that we could usually mental condition about... and any time he pulled up there was a short sparkle of anxiety, wondering what astonishing astonishment he might be delivering that day.
At the time, we recollect postage stamps for initial category letter costing about 20 cents. If you're a bit comparison than me, you may recollect them being sufficient cheaper than that.
In fact, previous to President Nixon receiving the US dollar off the bullion typical in 1971, stamps cost 6 cents. In the 40 years given then, the price of a initial category letter has been lifted 20 times, scarcely 8-fold aloft than before.
To put things in perspective, the price of a stamp in 1863 was 3 cents... so we're conversing about a 100% enlarge in 108-years, followed by a 733% enlarge over the next 40-years. And yet, notwithstanding such prevalent price inflation, the US Postal Service is hemorrhage money and impending failure.
In mercantile year 2010, the Postal Service suffered a $8.5 billion net loss, the ultimate in a sequence direc! tion of widening losses. The usually way the Postal Service keeps flourishing is from the goodwill of US taxpayers and Chinese bondholders who feet the bill for its continuance.
The Postal Service has scarcely 600,000 employees; it's incomparable than the active part of the United States Army, in fact, and, identical to how the Army is far-flung all over the world in places where it has no business operating, the Postal Service has offices opposite parochial America where there is no luck of profit.
There are over 3,000 post offices opposite the nation that produce reduction than $27,500 in annual revenue. It's hardly probable to pay lease and keep the lights on with that type of revenue, let alone sinecure a staff, sustain smoothness vehicles, or pay for fuel.
An group with such a dear make up is cursed to fail, and if it weren't a supervision agency, it would have vanished bust a long time ago. By the government's own admission, the US Postal Service can't vie with in isolatin bearer services, nonetheless politicians demand on gripping it alive in the usually way they know how" burglary and deceit.
Senator Tom Carper not long ago introduced a bill called the Postal Operations Sustainability and Transformation (P-O-S-T... obtain it? See how intelligent they are?!?) Act of 2011.
The bill is filled with oodles of radiant expertise like, "The United States Postal Service shall rise a outline is to enlargement of sell alternatives to post offices, such as... the Internet."
It literally takes an Act of Congress is to Post Office to soak up the Internet in to its business model... and this is what passes for a turnaround business outline in Washington.
More importantly, a full 50% of the legislation provides for all sorts of accounting tricks that the Postal Service can use to falsify its mercantile condition, together with supplies to rob from sovereign allowance and healthcare funds.
Last month, in fact, the Pos! tal Serv ice stopped creation payments in to the Federal Employee Retirement System to be able to preserve cash... and this is apropos a bigger and bigger thesis opposite government.
Retirement supports have turn the ultimate fudgemaking apparatus of hurtful mercantile process around the world. Treasury Secretary Tim Geither has been robbing sovereign pensions is to final a few months in the no show of a debt deal, and a few governments abroad have moreover stolen from retirees to be able to go on financing their largess.
Bottom line- if these broke governments and agencies owe to early retirement funds, they'll end profitable when it suits them. If they have access to rob from the early retirement funds, they'll steal.
We've seen a few examples of this over the final two years, and we're saying more all the time. This is one of the problems that concerns me the many because we know how many people are entirely confused for this eventuality.
Even in isolation early etirement accounts are satisfactory diversion in the diplomatic calculus... and it's a elementary matter of arithmetic.
When a broke supervision has to advance up with at least $1 trillion annually to block its bill gap, and a few trillion dollars value of early retirement accounts are developed for pillaging with few other options available, the selection is clear.
I've been a outspoken promoter of internationalization. With the correct type of structure, it's probable to safely and legitimately liner your properties abroad to a place where your money cannot be plundered by broke politicians.