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Obama To Nationalize & Confiscate Nations 401ks & Retirement Accounts

Friday, July 5, 2013 13:26
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Obama to Nationalize & Confiscate Nation’s 401ks & Retirement Accounts
The plan to confiscate your 401k & pension gains steam and momentum as Obama’s Media preaches the need for government to seize all retirement accounts and redistribute them.
Some of us saw this coming awhile ago. My friend John Galt Fl saw this clearly back in 2007 and warned about it. Some poo-poohed that notion and told him that doing so would create a civil uprising and that such an idea would never happen. John laughed at the ignorance and continued warning the inevitability of the government being unable to resist the urge to steal billions of dollars just sitting in the hands of private citizens as the government behemoth goes broke.

It’s not that John was prophetic, he just understands tyrannical government and market manipulation when he gets a whiff of it. He writes about the steamrolling juggernaut movement being ranted about in Obama’s media, the first salvo to soften the beachhead of public opinion for the landing of government action to confiscate your retirement accounts.

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Total 19 comments
  • syd vaughan

    in Britain our pensions funds have been plundered several times and there hasn’t been a brick thrown or one demonstration its like weve given up and are so tired of all the political cheats thieves and crooks, weve just gone in a closed the front dooe waiting for someone else to do our dirty work.

    • Anonymous

      The result of gun confiscation…a toothless society of subservient subjects.

    • usathoughts

      As “Anonymous” said, the result of gun confiscation. You might think bullets against tanks is not a good idea. Your right, but consider what the VC did to the French, and then to the Americans.

      “With tongue in cheek”. Get a group together, call yourself Muslim Sunnis terrorist, will find yourself buried in military weapons. Obama will fall all over himself to help. Even your own government may step up to the plate, through the backdoor of course. Don’t forget the Saudis and the Muslim Brotherhood as they will be at your beck and call. Might even use ‘government’ in your name. Then the IMF and the EU may come to your aid.

    • Village-idiot

      “Fool me once, shame on you. Fool me twice, shame on me.”

      How could they be able to do this more than once? Only in a nation of complete idiots could they do it!
      You’ve got yourselves to blame the second and third times. You get no sympathy from me.

    • fatman45

      Tragic to see what has become of a once-proud nation. I really feel for you Brits! But I fear that we are being led down the same path here “across the pond” – the path to slaughter!

  • ExLibris

    “Retirement USA” is mentioned in the top 20:46 long video as being the creators of the proposal. What she doesn’t tell you is that (according to mutliple web searches) Retirement USA is a child of ACORN. Remember them?

  • Thane36425

    Other nations have already done this and Harry Reid and others have hinted at it. I have little doubt that it will happen. It will be done in the name of fairness because, as Obama said not long ago, some people have unfairly saved too much money for retirement. So, government is going to take all in excess of what it deems fair and “invest” it in Social Security and pay back a fair amount. Dollars to doughnuts that amount will keep being lowered to gobble up more money, just like the definition of rich keeps being lowered.

  • lugger

    of course he’s gonna do it.has already happened in Cyprus. too bad one of them Africans didn’t cook him up and eat him when he was there. would have gave everyone indigestion though.

  • AJjj100

    Everyone should draw there money out of there 401K now.
    Want to down size the government? Stop buying lottery tickets. Take the money away from the government and you in fact take power away from government. Want the government our fore fathers gave us, back? is a great organization to join if you want your freedoms back. wethepeopleofny has some of the best lawyers in this country and are working to setup a watch dog organization to hold the U.S. government and all state and local governments accountable when they violate the U.S. and states constitutions. If the people would only join them so they can get setup in every state they will stop the corruption in law and government. I am a member and will be as long as I can.
    Let freedom ring! United we stand, divided we fall!

    • Thane36425

      Lottery tickets are only a small part of it. Not taking any more debt and paying off what you have would have far greater effect. This is due to the fractional reserve system of banking which effectively prints free money for the government. Rather than go into that here, there are some good videos about it on Youtube. Why do you think the government is a panic over people not borrowing money? Without that extra imaginary money being minted in bank computers tax revenues are falling. This is also why government didn’t bother to seriously warn and certainly take no action as the mortgage crisis was building: too much free money being printed by all that borrowing.

      If everyone started paying off credit cards, mortgages and such, the government would freak out.

      • Michael Carrigan

        Work, save, pay down debt, do not borrow, invest wisely…and protect the constitution. Every household and our government needs to do this.

  • usathoughts

    Sure do know of ACORN. Home grown terrorist; crime, prostitution using young girls, slavery, etc. Obama’s kind of operation. HE must love it as he gave up his Law License over them.

  • W. Willow

    Classic case of taking from the slaves [who do the work] to give to the rich and powerful godlike in-breds who then beneficently bestow the goods upon the entitled [who do no work].

    The slaves are obviously not equal enough to be in on the *fair* part. Their feelings about their labor don’t factor in with what is needed to keep the more clever compassion machine running full tilt.

    So … the slaves, being obvious failures for trusting the R&PGIs to steward their hard-earned savings, merely made themselves easy-pickin’s.

    Therefore it is the slaves’ fault what happens to them for not sharing with the entitled in the first place.

    Brazen deduction on the R&PIs part. :shock:

    However, having already calculated that the slaves would come after them with their pitchforks, so the R&PGIs got themselves some mercenaries . . . .

  • keysrat46

    What does this LADY think we are currently doing with our employee/employer contributions to Social Security. Where the hell does she think EITC (Earned Income Tax Credit) come from ~ it’s a credit for the amount of you and your employers contribution to your SS, if you are a low income family. This is at a rate of 6.2% each for a total of 12.8% up to $109,000. After that you can’t contribute. So if rich people want to be rich when they retire, they needed something else like 401K or defined benefit plan.
    What this country needs to is get the Federal government’s hand out of OUR SS Trust Fund and have professionals management it. Retiree that do not have another source of income or assets by the time they are retired are retirees that have not worked. They a the sieves that take, take and take and expect us to give give give. They need to get off their ass and work and save and build some assets like a home.

  • Anonymous

    is that gal stupid—canada has this and it is totally tapped out there will be no retirement—this is a wealth grab —they new back in the day when people were putting in for a tax deffered savings that the pot would eventually go into the billions and would have no way to honour this especially after borrowing money to fight senseless wars over seas—which none of us had no buisness being there in the first place —tapping the welath of the country right down to it’s prosperity—-brain childs of a hybrid alien/demon thinking —and now the gov’t wants to tap out all the resources because now China needs money for it’s expansion—
    would not have believed this 30 years ago but today—america and canada have become like prostitutes taking in baubles and putting out —-AND GETTING NOTHING BUT Empty

    • Village-idiot

      The Canada Pension Plan is doing just fine. It’s kept at arm’s length from the grasping hands of the government. It is run VERY conservatively and gets a consistent 6% interest each year (the CPP does all of their estimates assuming 4% / year). With Canadian demographics as they are, they estimate it’s good for about 75 years (without dropping benefit levels).

  • doggy do

    Youse nutskis slay me

  • Jay

    Why would any young person contribute to a 401k after they confiscate their parent accounts. The system would tank, People would remove the money in the 401k accounts every couple of years and buy hard assets or lifestyle purchases. Maybe that what they are after?

  • romelucky

    I’m all for discovering and exposing what the government and governments’ around the world are doing especially if it directly or indirectly will affect my liberties and rights as written by our founding fathers. However, in researching this topic I have concluded that it misinterprets and misleads honest hearted BIN readers. Shame on you BIN. Here is the real story behind this Obama rumor by an independent organization with no political conflict of interest:

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