Bob Chapman: Towards an Inflationary Depression in AmericaSubmitted by legalizeliberty on Sun, 10/03/2010 - 08:45
There is no question that those who control our government from behind the scenes are bound and determined to take over the $6 trillion in private pension plans. Whether they’ll be successful remains to be seen. The Department of Labor wants to force all IRA’s and 401k’s into the arms of a corporate fascist government, that knows better what is good for you, than you do. You would exchange your hard earned investments for a guaranteed, government annuity that is not worth the paper it is written on.
We have been writing about this for more than a year, but as usual few are listening. People say the government won’t and can’t do that. Government can do anything it wants.
Small amounts would go into R-bonds, government retirement bonds and larger amounts would be managed by the anointed few. They would be JPMorgan Chase, Goldman Sachs, Citigroup, etc. This would give them total control of the stock and bond markets. These investments would act as collateral for the government against which they’d issue R-bonds. Shades of the 1930’s German monopoly control of markets. That is what this is about as well as the control and subjugation of worldwide investments. A total hold on the control of all investments.
When this will happen and if it will happen, we do not know but this is what government bureaucrats are up too if they can get away with it. Very often Argentina is a testing ground for new fascist ideas. That is what their bankruptcy and default was in part about in the late 1990s and early 2000s. It was a trial run on default. For the past two years they have been in the process of discussing how to capture private pensions. We cannot accurately predict the future, but we do know the powers that be want your assets and to ignore that fact is stupidity. We have advised our subscribers to seriously consider removing their retirement from the clutches of the government. Do not forget you will have to pay taxes on your contributions and gains sooner or later. You have three months left this year to phase out, whether in part or in total. The choice is yours; we are out in total.