IRA's and 401k's : The New Target for Confiscation
First of all, let me say that I would not have been made aware of this upcoming effort by the Federal Government to tap your IRA and 401k retirement accounts without the timely assistance of Pat Heller, the General Manager of Liberty Coin Service in East Lansing , MI. He publishes a monthly newsletter called "Liberty's Outlook" which provided both data and pointers for the following article. Thanks Pat..
Tomorrow, check in with www.dol.gov/ebsa at 9AM EDST. EBSA, if you've never heard of it, stands for Employee Benefits Security Administration (whoever the Hell they are) and check the web page.
Also download the PDF testimony of Ms. Teresa Ghilarducci who testified at yet another hearing back in 2008 which started this whole thing.
To make a very long convoluted story very short, These Dept. of Labor hearings are to look into ways in which the U.S. Federal Government can confiscate your IRA and 401k retirement accounts in the name of "Lifetime Retirement Accounts", in which the Federal Government will, in the name of "safe keeping your retirement" forcibly take your IRA and 401k retirement funds and invest them into worthless Treasury debt instruments so the IRA's and 401k's will be just like Social Security: Full of nothing but Treasury debt (i.e. garbage).
There is about $6 trillion dollars currently invested in individual IRA's and 401k retirement plans, every dime consisting of real money.
This spells "sugar candy" to the Federal Government which desperately needs funds to cover its profligate spending, borrowing and theft programs. IRA's and 401k's are huge, ripe, easily picked goodies that will force the citizens of this country to further finance the Ponzi game the Fed's have been playing for decades and are now unable to continue without fresh real (savings) money to continue the game of feeding off the public to fill the troughs that banks and the public employees are currently gorging themselves on.
The hearings at the Dept. of Labor today (9/14) and tomorrow (9/15) are the first steps in figuring out how to pick the carcass of the body public clean by stripping real value from their retirement plans and replacing it with toilet paper Treasury debt.
If this doesn't anger you - those of you who have done everything right, worked hard, paid your taxes and saved for your retirement, then nothing ever will. If the American public allows this to happen, then all is lost for the Federal Government has already blown away our children's future and now they want to make sure that no one survives.
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