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Everyone with a 401k or IRA should read this article. Excellent information!

Just by chance I yanked my 401k money in 2008 and I looked like a genius but my reasons for cashing it in were unrelated to any "wisdom" on my part. So, I no longer have a 401k but the article below is a gold mine for those of you wondering what to do. Some of the suggestions surprised me but make sense. I highly reccommend anyone with a retirement account to take the time to read the article below.

Today the twin fake memes of a "Fiscal Cliff" and "Austerity" are combining to create a contrived excuse to tax and steal far more of your wealth and income, including your retirement benefits. The press is filled with articles and editorials like one recently at CNBC entitled "Amid Tax Talks, a cry of 'Save My 401(k)'."

Many retirement, offshore and political experts including Jeff Berwick, Larry Grossman and others are now warning how government revenue needs and austerity measures by the Obama Administration today threaten the private retirement system and benefits of millions of successful Americans. Back on January 28, 2010 I wrote a report entitled "The Coming Obama Retirement Trap Has Started," published at LewRockwell.com, republished in its entirety below, for your review.

Over the last few weeks I've been inundated with emails similar to this one:


In early 2010 you wrote an article called "Are you ready for the coming Obama retirement trap?"

Now, I find an article from National Seniors Council that there was a recent hearing sponsored by the Treasury and the Labor Department that marked the beginning of the Obama Administration's effort to nationalize the nation's pension system and to eliminate private retirement accounts including IRA's and 401k plans.

What is your thinking on this? Should one, even with a large IRA, consider cashing it in or doing something to keep it out of harm's way? Your response is appreciated.

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Wow - Fedup...thats some kick a$$ information

Everyone should read that post too! I copied it to a word document and will be emailing it to several of my friends...a few who are "day traders"

I sure wish I knew 5-10 years ago what I have learned over the past several years, educating MYSELF online. I graduated from The University of South Carolina in 1989. I got a bachelors degree in Business Admin-Computer Science but I was taught NOTHING about REAL history, Money and Banking, The FED, The Orgins of Govt. NOTHING really about anything that matters. I mostly drank a lot and chased skirts. I wouldn't have gone to college at all if my Dad had not INSISTED that I get a freaking degree...and he paid for it so I just wasted 4 years being young. (it was actually a good time but just a waste)

Its ironic that I'm probably better off having essentially learned nothing in college (other than what I absolutely had to in order to maintain a C average) than I would be if I had studied and "learned" all the crap they were "teaching" us :0

Yea....BS in Accounting...

Summa Cum Laude and a massive waste of 4 years. But because I'm white, and attended the predominately black Morgan State University, it was all free...in fact I made about $1,500.00 a semester and went windsurfing in Aruba a few times!

Wha? .....hey....who stole my country?

So John Boehner is conspiring w/ Obama to steal your retirement

Now it all makes sense.

Now this is why they can NOT tolerate any true conservatives on these committees.

Giant holdings companies (corporations) and their media arms are conspiring with establishment Republicans and Democrats to use their worker's retirement funds to bailout the giant Fascist (public private partnership) bankruptcy that they have been raping America with over the last decades.


For some time now I've

For some time now I've believed that retirement accounts are simply presenting your life's savings to the government on a platter so they can steal it with impunity whenever they find it necessary. Rest assured my life savings do not sit in a retirement account.

Like I said...

A differing view of the same conclusion...note the downturn two days later...


Wha? .....hey....who stole my country?

Good info - thanks for posting!


"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix