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Takeover on the 401k/IRA

Is anyone up to date on what is happening in this area? They are so good at keeping us diverted with so much to keep up with; I haven't followed it for a few weeks. I'm afraid with their hijacking of our health care this will be next on their agenda. Last I read they were looking at a mandatory retirement savings for all employees and the money put into government annunities. Of course they will more then likely confiscate what any of us already have set aside.



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Karl Denninger

has a good piece about this... just issued last week.

http://networkedblogs.com/1Fiq5

" Single acts of tyranny may be ascribed to the accidental opinion of they day; but a series of oppresssions...pursued unalterably, through every change of ministers, too plainly proove delibrate, systematical plan of reducing us to slavery..."
Tho

SEIU's plan...

http://www.retirement-usa.org/

" Single acts of tyranny may be ascribed to the accidental opinion of they day; but a series of oppresssions...pursued unalterably, through every change of ministers, too plainly proove delibrate, systematical plan of reducing us to slavery..."
Tho

As of now it appears as

As of now it appears as though only public employees will be 'less able' to opt out of the scheme.

It's being billed as a 'voluntary' program right now with state and federal employees being the initial test rats.

Hey it could be a good thing.

If the government/banking crime syndicate ("GINO") wipes out municipal and federal employees' ('tax-feeders') retirement accounts, they may wake-up and join the taxed in revolt. Keep watching for now.

Something like this would be

Something like this would be promoted as being for our own good but in actuality it would be because the gov is unable to find willing buyers for their treasuries.

...

Yes, this is very scary stuff indeed...

Here is the probably scenario...

After the 2010 and/or 2012 elections, the demoncrats will likely lose several seats (maybe even the presidency) and that is when the lame-duck congress will be at its most dangerous.

They might be better called a wounded-bear than a lame-duck and wounded animals are dangerous and unpredictable.

I've also heard af a VAT (National Sales Tax) to be pursued at that time.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

Maximum Return NOT Infaltion Adjusted

I saw a post that clarified one detail in the bill that is currently floating around treasury and congress.

The plan looks on the surface as a inflation protected annuity - but it is not really inflation protected. It has an absolute cap of about 2.5 pct per year. So if inflation is more than 2.5 pct you will get out less than you put in.

The reason for this plan is to have the U.S. people take up the slack of the foriegn govts that are no longer buying our t bills etc.

Overall it goes somethign like this...

We all have a new payroll tax in addition to SS etc. This money goes into our personal account that buys TIPS Treasuries that can be inflation adjusted but they are capped at 2.5 pct. When we retire we get the payments until we die.

With the 2.5 pct cap it will end up being a negative ROI.

thanks for the info

I did read something about them being used for buying treasury garbage, didn't know about that inflation cap.I also saw something to the effect of not being able to take anything until 721/2. Make sure enough old farts die before they can get their hands on any money. With the health care bill in place this works in their favor. What you say about the US people taking up the slack of foreign govts makes total sense because we know they are withdrawing from financing the debt of the govt.
Thats the part that really concerns me as I have read so much about the wealth of these 401k/IRA funds and they have been drolling over the aquisition of these funds. Add that to the fact we have no say in anything that goes on in Congress I'm expecting this to be the next shoe to drop.

chinkadaro

These funds

are the last place to steal Americas' wealth ..The rest of the wealth has already been stolen..They probably shipped our gold to make the new currency..
The Muslim Koran has the last currency as Dinare..
Currency of Babylon. Gold coin