Your IRA'S and 401K's ARE STILL At RISK Of Government Confiscation!
The Labor and Treasury department, along with the Obama Administration ARE MOVING FORWARD with The Nationalization-Confiscate IRA's and 401K's.
Why do they Want Your Retirement Accounts?
YOUR equity will be used as collateral; in an attempt to balance the Trillion Dollar U.S. Deficit.
This will be done in an effort to once again make the United States credit worthy to China and other buyers of our debt.
The Most Recent meeting held on September 14th and 15th, between the Labor and Treasury Departments outlined the Course of Action.
The agenda is called "Lifetime Income Options for Retirement Plans".
Under this course of action, the Federal Government will Control an estimated $3.613 Trillion Dollars in IRA's and $2.350 Trillion Dollars in 401ks.
Your equity will be placed in U.S. Treasury Bonds, that will Pay out an estimated 3% annually.
One major clause is that upon retirement, the value of the Your Retirement Account will be placed into Annuities. Once an individual Dies, the Value of the Account will Automatically become property of the Government. The Program will be Structured much like Social Security Accounts (the biggest Ponzi Scheme ever created).
The Only way Government would get away with what will be "The Largest Heist Known To Man" is by Allowing or Creating a Major Financial Market Meltdown!
An aging person who sees his or her Retirement Account Drop 50%-60%in a matter of Days.... Is More willing to take a Conservative Approach... Even if it means "Government-Guaranteed Income".
The move toward Nationalization of IRA's & 401ks will Initially be Offered as an Option. Those who are Unwilling to accept Government Run Retirement Accounts, will be Stripped of their Current Account Tax Benefits...
You'll be Forced to Pay Taxes on your Holdings, Automatically Wiping Out One-Third of your Wealth!
This will Take place After the Stock Market Drops an Estimated 40-60%!
If the Following Indicators are Right... A Stock Market Crash is imminent!
Unsustainable U.S. Debt
Real un-employment continues to Rise
Housing market continues to Drop
Failing Banking System (2-7 Banks Fail Weekly)
Lower Quality of Life (1 in 8 Americans are now on Food Stamps)
A Massive Crisis is Brewing!
Remember The Government Phrase: "Never waste a good crisis"
Must be nice to be able to just post a bunch of nonsensical claims without any sort of proof. What is the name/number of the federal bill, initiative, or whatever that you allege is in the works? Who, other than Obama, is involved in this?
ReplyDeleteRemember the Controversy Lover's Phrase: "Never waste making up a good crisis"
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ReplyDeleteHere are a couple of articles that discuss the possibility of a takeover of IRAs and 401ks.
ReplyDeletehttp://www.dailymarkets.com/economy/2009/03/19/is-obama-going-to-nationalize-401k-plans/
http://www.publicradio.org/columns/marketplace/gettingpersonal/2008/10/nationalizing_401k_assets.html
They are somewhat dated but I note that Argentina apparently has taken this action and the rationale for it seems to be consistent with Obama’s socialist ideas. Such action would be highly objectionable to those who have had the good sense to plan for their retirement years.
It's up to you to judge the credibility of a takeover plan.