Thursday, June 24, 2010

40l(k)/IRA Nationalization Or Stealing Your Retirement!

Prior to the election of our “lord-god” Obama, this blog posted several articles that warned, “The Liberals were coming after your retirement funds”!

The Obama regime has now begun to do just that!

According to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, the U.S. Treasury and Labor Departments will ask, maybe as early as next week, for public comment on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts (IRA) into annuities or other steady payment streams. They want people to invest their 401k's and IRA's into annuities, like U.S. T-Bonds.

Why? Because they need to sell $2 Trillion Dollars in bonds this year!

China doesn't want them and other foreign purchasers have also expressed that they have no interest in buying our debt.

The powers which are pushing for this takeover are, the White House, Congressional activists, the Ford Foundation and the Rockefeller Foundation.

They ultimately plan to force all Americans to convert their 40l(k)s and IRAs into government-directed retirement accounts.

The 40l(k)/IRA de-privatization plan is the creation of Teresa Ghilarducci (Schwartz Center for Economic Policy Analysis - SCEPA), who is funded by the Rockefeller Foundation.

If you don’t think that Obama can pull this off, think again! Many of you didn’t think that they could pass Obamacare either. They will use the same ‘extreme’ tactics to enact the “40l(k)/IRA de-privatization Plan”

The monies in your retirement account(s) are desperately needed to cover-up the massive deficit that is being created by Obamacare, Medicare/Medicaid, etc…etc.

As the New York Times reported, "This year, the system will pay out more in benefits than it receives in payroll taxes, this important threshold was not expected to cross until at least 2016, according to the Congressional Budget Office."

Today’s deficit is relatively small. But in couple of years, the deficit will become too massive to handle as 78 million Baby Boomers move from paying into the system to drawing from the system.

In the March 9 edition of Business Week, it was stated, new federal regulations designed to "promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams" would drive cash into government-controlled entities, such as American International Group (AIG).

The 40l(k)/IRA de-privatization plan will guarantee that all Americans have the same risk of retiring with NO savings at all.

How's that for the redistribution misery?
They are going to steal your retirement!!

Welcome to Obama Socialism!

Comments are invited!
Send feedback to: Watch Dog


JDW said...

Buy Gold!

And hurry!

Big Mac said...

The bastards in the regime figured out how to wipe out private retirement accounts.

Now those who planned to retire without depending on Social Security are screwed.

I keep praying that old USSR space junk hits the Oval Office.

Perhaps my prayers have gone unanswer becase the man-child is always out "organizing"

I don't know their names, but I hate 54% of the voters.

Jane4439 said...

What BS!

They steal our retirements and make yet more people dependent on the public tit.

I'm ready to wage war on the Regime!

Let us reclaim our country and restore the Constitution as the most important document in the land.

Equity release mortgage said...

Those individuals that do not prepare for their retirement investments while working find it hard to survive without job. They tend to look for another work even if they are retired just to meet their needs.

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