Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By John Rolls (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Now Obama Wants Your 401(k) - Treasury, Labor On Path To Nationalize Retirement

% of readers think this story is Fact. Add your two cents.


Jerome R. Corsi * WND

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.

“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explained National Seniors Council National Director Robert Crone, describing a recent Treasury-Labor hearing held in the Labor Department’s main auditorium.

“However it is clear that his is just the first step toward a government takeover. It feels like the beginning of the debate over health care and we all know how that ended up.”



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Humic & Fulvic Liquid Trace Mineral Complex

HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.



Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...


It’s OXYGENATED

It Always Tests at 9.5+ pH

Preservative and Chemical Free

Allergen Free

Comes From a Pure, Unpolluted, Organic Source

Is an Excellent Source for Trace Minerals

Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents

Highly Conductive/Full of Extra Electrons

Is a Full Spectrum Complex


Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.


Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Total 7 comments
    • NeoIsolationist

      They definitely want the money, but I think enough people are aware of their true intentions that their excuse (to help people save more) will be understood to be a ruse. I don’t think they will be successful, if only because it seems like the financial system will go down before any legislation has any hope of passing.

      Furthermore, any effort to add rules/regulations that require people to put more money into treasuries will probably generate a run on the banks. I know I’ve pulled every dime out of 401k and IRAs over the past two years, as has my wife.

      • Estrella

        Neoisolationist,

        Your comment ” I don’t think they will be successful…” underestimates the enemy. Always risky.

        As to your comment “I’ve pulled every dime out of 401k and IRAs over the past two years, as has my wife.” Good man. Time will tell.

    • Anonymous

      We have a communist administration. Hussein was raised in the communist idealogy. Confiscation of wealth is one tenent of their laws. Restrict freedom and gov’t control of education, energy and healthcare. So many uneducated people out there!

      • patricks-bushcraft

        It’s communism for us at the bottom, and facism for the top.

    • James Smith

      The last great communist infiltrated theft and the only money left to steal in America. When they came for the Jews I said I wasn’t Jewish, then they came for dissenters, I wasn’t a dissenter but when they came for me their was no one left to help defend me, ring a bell? or two? Everyone in the know already expected this last financial theft and the pensions are how they take the money pay your fair share of illegal immigrants or your prejudice. Government healthcare plan with gun laws in it and it’s mainly about deathcare that’s no care at all.

    • DaveB

      401k has already been lost, it was invested in European debt. They literally lent the money to countries that will never be able to repay the debt.

      • Old Harry

        This is only a thought. ” If your 401′s are held by the bank, and he bank goes bankrupt via a economic collapse, and the government come in and saves the day by making your lost dollars good again by making it a part of the Social Security program thus guaranteeing your savings – can that happen?” Just a thought …

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.