Have we been scammed by our own government? By our own banks? By Wall Street?

The dictionary defines to scam as “to swindle, to defraud.” Our government asked for 700 billion dollars to buy toxic assets from banks to supply them with money to loan out so as to get the economy going again. The money was NOT used to buy the toxic mortgages as promised. It was given to the banks who used some of it to lobby congress, and some to pay huge bonuses to employees who foolishly bought derivatives containing toxic mortgages that got the banks into trouble in the first place.

The government now wants the money back at 10% interest and wants to tax the banks for taking the money.

Banks and the American People Feel
Scammed by Our Own Government

The government asked for another $700 billion to stimulate the economy by creating and saving jobs. To date, $159 billion dollars has been spent. The government claims 640,000 jobs have been created or saved. That’s $248,000 per job. 

When you look at the 640,000 jobs, the results are sickening. For instance: $1,359,633 was awarded to a company CH2MWG Idaho, LLC in Washington State to create 2,183 new jobs; that’s $622,827 per job. Brookhaven Science Associates, LLC NY received money to create 25 new jobs at a cost of $10.3 million per job.  85% of all the money went to four government agencies: HHC, Labor, Education, and Social Security. Americans feel scammed by our own government!

Americans Feel Scammed by Our Banks

Not only did banks use our money to lobby Congress, not only did they give huge bonuses, but banks have CUT credit limits for almost every American and CUT billions from loans to small business. Banks have said “we will not loan money to you!...not in credit cards, not to buy houses, not to refinance, not to run small businesses… And “we will charge you between 19 and 30% interest on credit card debt. Americans feel scammed by our banks that WE bailed out!

Americans feel scammed by Wall Street

On March 9, 2009, the Wall Street banks announced that they were making money. The great recovery had started. The banks had made money with smoke & mirrors and something called “trading.” But the great rebound was on. Ignore any information about how the problem in housing was getting worse. Ignore any information about the devastating employment numbers. Ignore the consumer who now was focused on paying off three trillion dollars of credit cards and equity lines of credit AND not spending! Ignore how America was sinking deeper and deeper into debt. Ignore it all and proclaim “All is well!” Stocks soared in value. Wall Street beckoned investors to “jump in, the water’s fine!”

And you worry, “Am I being scammed by Wall Street, too?” “Did I miss the greatest recovery in history?” Did the geniuses of government, banks, and Wall Street really pull it off?” Or “Am I the victim of the greatest scam in American history?

Where should you put your retirement dollars?

We look at three strategies:

1. Buy and Hold
2. Time the Market
3. Build an Individual Pension

Come and discover the facts, then you decide. You may be surprised at what you find out.

In past meetings, we have covered topics most brokerage houses and financial planners won't dare touch. A few months before our debt-driven stock market approached its high on October 9, 2007, we advised our clients to pull out of the market and sell real estate. Those who did, preserved their capital. Did your diversified approach to investing cause you to lose money last year? Did 10 years of savings get wiped out?

If you are concerned about your nest egg lasting you throughout your retirement, you need to attend our workshop. Space is limited. It is FREE. Registration is required, register now for our January 30, 2010 event!

Don’t miss out on this opportunity! Register now before all the spaces are taken!

Individuals who are currently licensed and working in the financial industry are welcome to attend for a nominal training fee.