NEW YORK – Two years ago, as WND reported, the Obama administration was proceeding with a novel way to finance trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.
Remarkably, those financial professionals specializing in private retirement savings and the U.S. citizens investing in private retirement plans now face the possibility the Obama administration and its allies on the political left will impose rules and regulations that effectively abolish the private retirement savings and investment markets.
Recent evidence suggests government officials continue to eye the multi-trillion dollar private retirement savings market, including IRAs and 401(k) plans, eyeing the opportunity to redistribute private retirement savings to less affluent Americans and to force the retirement savings out of the private market and into government-controlled programs investing in government-issued debt.
Government takeover?
An Investment Company Institute study published this month found that U.S. retirement assets totaled $18.5 trillion at the end of the second quarter 2012, of which 3.5 trillion was in IRAs and $5.1 trillion was in 401(k) plans.
Since 2010, the U.S. Treasury Department and the Department of Labor have been holding combined hearings on various plans designed to introduce government-mandated retirement plans and investment options, including government annuities invested primarily in U.S. Treasury debt, into the private retirement savings market.
Read More at WND . By Jerome R. Corsi.
Please share this post with your friends and comment below. If you haven’t already, take a moment to sign up for our free newsletter above and friend us on Twitter and Facebook to get real time updates.
Follow @WestJournalism
Loading ...
HIS DAYS ARE NUMBERED…………………CONGRESS AND AMERICA WILL ONLY STAND FOR SO MUCH !
I WISH YOU WERE CORRECT, BUT HE HAS CONGRESS TIED UP IN KNOTS AND WILL SIDE STEP THEM LIKE IT ALREADY HAS!!! I GOING TO BE UP TO WE THE PEOPLE TO GET RID OF THIS FILTHY, NO GOOD, ROTTEN BASS TURD!!
Just another retirement program to steal from as far as they are concerned!
His days are NOT numbered bedcause he has the media to protect him….and his army of czars. Welcome to *1984* (George Orwell)
Obama was chosen….and he (and Soros) will fight to the end to destroy America. There is absolutely nothing anyone can…or will do. We are ALL slaves….and WE the PEOPLE are SO F***ED
Government Bonds are worthless. And anyone with them will be screwed out of their money because the governmenr can`t buy them back or pay the interest on them.
Buy pure silver coins or gold. They are the only sure things that if the -hit hits the fan and are easily exchangable.
Go ahead Obamass and try and take my 401K and anything else I own away from me and see what happens. I will defend it against any and all takers including YOU!
This administration is always looking for sources of money where they could steal and make it appear as beneficial to the country. Just don’t screw our 401 k or you’ll see the wrath of the American people.
http://www.youtube.com/watch?v=Zxqys-0MDO0
You got to have a plan B..
http://www.profitablesunrise.com/?upline=nationals
I absolutely believe Owe-Bama will do anything he can to steal $$$ from citizens of this country to pay the debt he has racked up while in office. He is the *Epitome of Evil*.Anyone who DOESN’T believe this, is not living in the real world.
Is this the guy who laughed at a vouchers program for medicaid? He really want people to be forced to invest in an economy that is over burden with bad and rising debt?? In addition, to wanting to limit IRA’s and other retirement plans to 3 million? (He says 3 million is to much!!! So is the cost of medical!!!!!) Mr President please wake up!!! Retirement plan is for one’s tomorrow, one’s golden and more costly years. If YOU limit their saving WILL YOU HELP THEM IN THERE GOLDEN YEARS???? GET OUT OF OUR POCKETS!!!!