Obama Has a New 401(k) – Yours

Thomas Paine, the firebrand penman of the American Revolution, protesting taxation without representation, wrote: “Beware the greedy hand of government, thrusting itself into every corner and crevice…”

That battle cry of freedom applies with equally appropriate force to Americans’ current battle against the restrictions of modern government and its war on wealth.

Now consider this, the total value of U.S. private pensions stands around $18 trillion, more than 25% of that in IRAs — no coincidence that figure is not far from the fast-growing U.S national debt, currently at $16.8 trillion.

As our nation’s debt is projected to skyrocket to a mind-boggling $35 trillion by 2025, you can bet Washington politicians are eyeballing this mountain of pension cash.

The fact is the greedy hand of government is now poised to grab your retirement savings. This is a warning I have voiced now for several years.

If you don’t think the government will steal your pension — think again!

You may have never heard about it, but what is happening now is not new. Bipartisan tax and budget negotiations between Congress and the White House encompass radical changes in tax-deferred contributions to retirement plans like 401(k)s and IRAs — and not in a good way.

The history of these radical retirement plan proposals goes back to 2008, when the Democrats had a firm majority in both the U.S. Senate and House. It was then that a plan first emerged for the creation of so-called “Guaranteed Retirement Accounts” (GRAs) to be imposed on all U.S. employees.

Under this proposed plan, every American would be forced into a Social Security-like retirement scheme with an individual mandatory “Guaranteed Retirement Annuity” that would require investing in U.S. Treasury debt!

Put that insane plan together with President Obama’s big spending plans, his trillion dollar budget deficits and his need for trillions more in cash to buy political support… and you can easily see the greedy eyes looking straight at your retirement plans.

Jim Rogers Warning

Last year, I interviewed one of America’s most respected investment gurus, Jim Rogers. This is a self-made man who worked his way up in Wall Street and, in 1973, founded the Quantum Fund with the legendary George Soros, before retiring in 1980, a multi-millionaire at the age of 37.

Jim told me then “that things are going to be bad in 2013 and 2014 no matter what Congress does…” And in an April 5th interview with Tekoa Da Silva of Bull Market Thinking, Rogers, discussing the Cyprus banking collapse, made some dire predictions: “It’s been condoned [now] by the IMF, the European Union… that a government in need can take assets.”

Rogers added: “401k plans, IRAs, and pensions plans the government knows about [may be next]… [They’re] rationale would be, ‘Well most people haven’t been doing well in their IRAs and pension plans for the past several years, so we’re going to help you. We’re going to take your pension plan and give you government bonds so that you have a guaranteed return.”

Move Your IRA Offshore Now

One way to protect your IRA or other retirement plans is to move your plan out of the jurisdiction of the United States and locate your assets and their management offshore, or start a new plan offshore.

You may be thinking that’s a lot easier said than done. But the truth is, if you wish to protect yourself and your retirement from a tyrannical government, there are plausible plans you can adopt. One option is to move your assets and money offshore to safer places with the highest yields available.

To accomplish this, here are the steps you need to take:

1. The process begins with your Individual Retirement Account, which must be established with a financial institution that offers these tax-advantage savings plans.
2. Any plan is required by law to have a U.S.-based custodian; however the cash and assets within the account can be located outside the U.S. in another jurisdiction.
3. Finally, once your funds are transferred, you have multiple options, whether you wish to self-direct the account or have a professional oversee it, it’s your choice.

If this interests you – shielding yourself from a government that is hell-bent on dictating the way we live our lives – I recommend learning more now.

Faithfully yours,

Bob Bauman, JD
Chairman, Freedom Alliance