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Thread: OBAMA STEP CLOSER TO SEIZING RETIREMENT ACCOUNTS Proposes in SOTU address W/WND POLL

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    OBAMA STEP CLOSER TO SEIZING RETIREMENT ACCOUNTS Proposes in SOTU address W/WND POLL

    Obama 1 step closer to seizing retirement accounts

    Barack Obama has just announced a startling step toward seizing your hard-earned retirement accounts.

    You have to read this stunning story to finally open your eyes to the devious scheme ...
    WND EXCLUSIVE

    OBAMA STEP CLOSER TO SEIZING RETIREMENT ACCOUNTS

    Proposes in SOTU address T-bills for IRA, 401(k)


    Published: 8 hours ago

    JEROME R. CORSI

    NEW YORK – When you hear, “Hello, I’m from the federal government and I want to help you manage your retirement savings,” the best advice is to run away, as fast as you can.

    In November 2012, WND reported the Obama administration was exploring a creative way to finance continuing trillion-dollar annual federal budget deficits through forcing private citizens holding IRA and 401(k) accounts to purchase Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.
    Two years ago, WND reported the U.S. Department of Labor and the Treasury Department held joint hearings on whether government lifetime annuity options funded by U.S. Treasury debt should be required for private retirement accounts, including IRAs and 401(k) plans.
    It looks like that day is getting closer.
    Packaged as a new retirement-savers plan designed for workers whose employers do not offer IRAs or 401(k), President Obama announced in his State of the Union address Tuesday an initiative that allows first-time savers to start building up their savings in Treasury bonds that could eventually be converted into traditional IRAs or 401(k) plans.
    While it is not as onerous as an Obama administration directive demanding a certain percentage of individual retirement savings must be invested in U.S. Treasury bonds, it is a first step in that direction.
    With the Obama administration having run federal budget deficits in the range of $1 trillion every year in office since 2009, and with the Federal Reserve announcing a new policy to “taper” Quantitative Easing by buying $10 billion a month less in U.S. government debt every month this year until QE hits zero, somebody has to buy all the Treasury debt the Obama administration plans to issue.
    In January 2013, the U.S. Consumer Financial Protection Bureau suggested it should play a role in helping Americans manage the $19.4 trillion they have put into retirement savings.
    “That’s one of the things we’ve been exploring and are interested in terms of whether and what authority we have,” bureau director Richard Cordray told Bloomberg in an interview.
    Under the direction of the Obama White House, the Treasury and Labor departments have increasingly pushed the investment theory that because government bonds carry a sovereign guarantee against default, any IRA or 401(k) funds placed in a Treasury R-Bond would constitute, in effect, a government annuity that would pay the retiree a lifetime income, regardless how stock and bond markets might independently perform.
    The government’s argument is that IRA and 401(k) investors lost principal from their retirement savings accounts when the housing bubble burst and the Dow Jones Industrial Average fell from a closing high of 14,164.53 on Oct. 9, 2007, to a closing low of 6,547.05 on March 9, 2009.
    Fidelity Investments estimated the average 401(k) fund balances on the approximately 11 million accounts Fidelity manages dropped 31 percent to $47,500 at the end of March 2009, from $69,200 at the end of 2007.
    Yet, with the stock-market rally that began in March 2009, Fidelity noted 401(k) account balances increased 128 percent, from a low at the end of the first quarter 2009 of $47,500 to an average of $60,700 by the end of the third quarter 2009.
    With the Dow going over 16,000 in the extended rally since 2009, most IRA and 401(k) investors have registered substantial gains, but that could change.
    WND has reported that should the stock-market rally turn into yet another financial bubble that bursts, retirement savers with IRA and 401(k) money invested in the stock market could again take serious losses that may take years of patience to regain.

    U.S. to follow path of Argentina?

    Unfortunately, retirement savers in other nations with high debt that have demanded retirement savings be placed into government debt have fared badly, taking huge losses as debt crises deepened and bond markets began selling the debt at serious discounts.
    Writing in the Telegraph of London in October 2008, business and economics editor Ambrose Evans-Pritchard warned that G7 nations, including the United States, may begin following the path of Argentina in forcing privately managed pension funds to be invested in government-issued debt.
    In 2008, Argentine sovereign debt was trading at 29 cents on the dollar, reflecting the devalued state of the Argentine peso, with the result that private pensioners holding government debt in their retirement accounts could not be assured those bonds would have any meaningful value at maturity.
    “Here is a warning to us all,” Evans-Pritchard wrote. “The Argentine state is taking control of the country’s privately managed pension funds in a dramatic move to raise cash.”
    He warned the same could happen in the U.S. and Europe, writing the G7 states “are already acquiring an unhealthy taste for the arbitrary seizure of private property, I notice.”
    “It is a foretaste of what might happen across the world as governments discover that tax revenue,” he said.
    With the Treasury needing in fiscal year 2010 another $1.4-$1.5 trillion in debt to finance the anticipated federal budget deficit, the Obama administration is obviously scrambling to find new ways to sell government debt cheaply, without having to raise interest rates.
    As WND reported last September, Poland confiscated one-half of all its citizens’ private pensions in a move to cut the nation’s debt crisis.
    Reuters reported Sept. 4, 2013, Polish Prime Minister Donald Tusk announced a government decision to transfer to ZUS, the government pension system, all bond investments in privately owned pension funds within the state-guaranteed system.
    For the time being, the Polish government continued to allow private citizens to keep equity investments that in the Polish state-guaranteed pension system tend to be approximately half of all private pension investments.
    Polish Finance Minister Jacek Rostowski said the change will reduce Polish national debt about 8 percent of Polish Gross Domestic Product, or GDP. The move allows the Polish government to resume another round of aggressive debt creation by borrowing in international markets, as reported by ZeroHedge.com.
    By confiscating, or otherwise “nationalizing” the bonds held in Polish citizen private retirement accounts, the Polish government, with public debt currently standing at approximately 52.7 percent of GDP, circumvents two threshold restrictions that deter the government from allowing debt to rise to over 50 percent of GDP. A second deterrence kicks in when Polish national debt hits 55 percent of GDP.
    Reuters pointed out that by shifting bonds held in private retirement accounts into ZUS, the government can book the assets on the state balance sheet to offset public debt, giving the government more scope to borrow and spend.
    As is the case with other nations in the European Union, Poland faced with slowing economic growth, a grim job situation, and declining tax revenues, has been forced to borrow to maintain the nation’s large social welfare system without imposing austerity measures.
    The international reaction among private investment advisers was one of shock and dismay.
    Poland’s move follows a similar move taken by the Mediterranean island of Cyprus earlier this year. The Cyprus government confiscated 10 percent of the amount in all bank accounts in a move calculated to raise 6 billion euros to meet a condition set by international bankers, including the International Monetary Fond, as a condition of finalizing a proposed Eurozone bailout.


    WHAT'S YOUR REACTION TO STATE OF THE UNION ADDRESS?


    • He gave me hope, again
    • I'm more excited about this administration than ever before
    • I was never more proud to be an American
    • Three more years and this nation will be the promised land
    • I didn't watch
    • I couldn't bear to watch another one
    • 5 years later and he's still blaming others
    • How does this guy continue fooling anyone?
    • I don't know whether America can take much more of this
    • Obama is God's judgment on an America that has lost its soul
    • It's now confirmed. Obama is 'the Destroyer'
    • ​Other

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    WHAT'S YOUR REACTION TO STATE OF THE UNION ADDRESS?


    • It's now confirmed. Obama is 'the Destroyer' (28%, 103 Votes)
    • Obama is God's judgment on an America that has lost its soul (19%, 70 Votes)
    • I didn't watch (18%, 67 Votes)
    • How does this guy continue fooling anyone? (12%, 45 Votes)
    • I couldn't bear to watch another one (10%, 38 Votes)
    • I don't know whether America can take much more of this (10%, 35 Votes)
    • 5 years later and he's still blaming others (1%, 4 Votes)
    • Other (less than 1%, 2 Votes)
    • I'm more excited about this administration than ever before (less than 1%, 1 Votes)
    • Three more years and this nation will be the promised land (0%, 0 Votes)
    • I was never more proud to be an American (0%, 0 Votes)
    • He gave me hope, again (0%, 0 Votes)



    Total Voters: 365

    Vote



    http://www.wnd.com/2014/01/obama-ste...ment-accounts/
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    Everything going on right now is Grand Theft Auto Deluxe Edition. No matter what this man says; follow the money and it leads to the scene of the crime spree. The Mafia never had it so easy.
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    Rep. Weber: Obama Is A Socialistic Dictator

    Infowars.com
    January 28, 2014

    Prior to President Obama’s State of the Union address, U.S. House Rep. Randy Weber (R-Tx.) tweeted that Obama is a “socialistic dictator.”

    Randy Weber ✔ @TXRandy14
    Follow

    On floor of house waitin on "Kommandant-In-Chef"... the Socialistic dictator who's been feeding US a line or is it "A-Lying?"

    8:09 PM - 28 Jan 2014

    Weber succeeded Ron Paul as the representative of Texas’ 14th congressional district in 2013.
    Earlier, Sen. Ted Cruz (R-Tx.) wrote a op/ed published by the Wall Street Journal in which he called Obama out for his imperial presidency.
    “The president’s taste for unilateral action to circumvent Congress should concern every citizen, regardless of party or ideology,” he wrote. “The great 18th-century political philosopher Montesquieu observed: ‘There can be no liberty where the legislative and executive powers are united in the same person, or body of magistrates.’”
    “America’s Founding Fathers took this warning to heart, and we should too.”

    This article was posted: Tuesday, January 28, 2014 at 7:50 pm

    http://www.infowars.com/rep-weber-ob...stic-dictator/
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    Alarming Gov't Plan to Confiscate Your Savings

    Written by Damon Geller

    Governments have been confiscating citizens’ savings for decades through deficits, inflation and outright theft, and it's about to get worse. Bankrupt governments will do whatever is necessary to survive and feed the welfare state, and they have never been more bankrupt than they are right now. Look no further than Poland confiscating half of citizen pensions. If you knew the government was going to steal your savings from you, would you do anything differently to protect your savings now? It’s an important question to think about now, because they ARE coming for your money, and some newly-discovered facts prove it.

    “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process.” -- Alan Greenspan

    The Fatter the Government, The Skinnier the People


    The U.S. Debt, not including unfunded liabilities, is over $17 trillion dollars. The sociopaths who are driving the titanic will be arguing over raising the debt ceiling again. If we look back to September of 2011, which was the last loud debt-ceiling argument, gold rose 21% in a period of three months while politicians caused a major corrosion of confidence in our leaders. When governments are broke, everything is fair game.Government officials are parasites; they don’t produce anything. They only feed off of those who do. As one person said, the fatter the government, the skinner the people. And when government officials cannot meet their obligations or fulfill the promises they made to the public, they’ll figure out ways to appropriate the public’s money to fund their projects. Government officials don’t produce wealth; they only redistribute your wealth. Desperate government officials will always resort to expropriation, which is outright confiscation.If the Federal Reserve is currently buying 90% of the U.S. Treasury market and they are going insolvent, who do you think the government will lean on to pick up the slack? The answer is YOU.Ten thousand Baby Boomers will turn 65 years-old every day until 2030. And while the government has a debt problem of $17 trillion, not so coincidentally, our country's IRAs, 401Ks and retirement accounts amount to that same number: $17 trillion. What a convenient resource for the Federal Government.So here's the plan: The government will nationalize retirement accounts like IRAs, 401Ks, pensions, 403Bs, etc. so that you will be forced to use a portion of your retirement wealth to purchase U.S. government debt – debt that will ultimately default, as it is not possible to sustain our astronomical debt nor the deficits that create it.

    Plan to Nationalize Private 401K and IRA Retirement Accounts
    If you do some research on US Bill “HB5337,” you will find the plan to nationalize retirement wealth. On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. This 401(k)/IRA de-privatization is the brainchild of Teresa Ghilarducci, whom through funding from the White House and the Ford & Rockefeller Foundations engineered a new “Regulatory & Tax Incentive.” The purpose is to force Americans to convert their Retirement Accounts into Government Managed accounts.This plan to nationalize private 401K and IRA retirement accounts is being deceptively publicized as the government protecting the public against business failings or state bankruptcies. Your cash, your retirement funds, your bank deposits and your investments are at huge risk of being confiscated by the government through some contrived reason or another.
    The IRS Greases the Wheels of Confiscation
    The IRS is refusing to issue tax ID numbers for single-member LLCs that are owned by an IRA, which is the specific structure that U.S. taxpayers create in order to ship their retirement savings overseas. Of course, the IRS simply decided using its sole discretion to stop allowing Americans to create this structure, and hence, force them to keep their retirement savings in the U.S. Without getting into too much detail on these structures, the bottom line is that the methods by which you could manage your own IRA and keep it out of the hands of the too-big-to-fail banks, and thus away from the grabbing hands of government, are being blocked in an effort to keep all that wealth accessible to the government.

    Many People Have Been Robbed Already
    Detroit’s bankruptcy destroyed many people’s pensions. In Cyprus, the government raided people’s savings accounts in an example of outright theft. And right here at home our too-big-to-fail banks, like BofA, Citigroup, HSBC, Goldman, Wells Fargo, JP Morgan Chase, Goldman Sachs and several others, are right now being investigated for robbing pensions via the rigging of interest benchmarks, among other investigations of fraud. JP Morgan Chase, in the last two years, has paid $7 billion dollars in fines for fraud.Yet these parasites remain in power, have had no further regulation placed upon them, and continue the same (or worse) risk tactics that led to the financial implosion of 2008 and subsequent taxpayer-funded bailouts. These criminal organizations look more like organized crime syndicates than legitimate businesses. Yes, these are the same folks who are in charge and in possession of your wealth. Whether you have your retirement funds in a money market, the stock market or the bond (debt) market, a bank or bank holding company hold and controls your wealth. This means that when Wall Street, which relies on an incestuous relationship with the U.S. government, is asked to hand over access to your money, it’ll be a simple as a keystroke.

    The Greatest Heist in Human History
    In 1966, before Alan Greenspan became the Federal Reserve Chairman, he wrote an essay called “Gold and Economic Freedom.” In this essay, Greenspan explains, the gold standard limited government spending to the amount of gold held in reserve. However, The gold standard was also unprofitable to the international bankers and the crooked government they collude with. So the central bankers, in collusion with devious government officials, embarked on the greatest heist in human history, to repeal the gold standard. Stopping at nothing, they attacked and crucified anyone who opposed them. Eventually, the gold standard was repealed, the citizens' gold was confiscated, and a debt-based economy was born.All the subsequent government deficit-spending and money-printing that followed the abandonment of the gold standard led to the Great Wealth Confiscator: Inflation. Inflation raises the cost of goods, while reducing purchasing power. And massive money-printing always ends in hyper-inflation, which typically causes the price of gold and silver to grow exponentially.

    http://www.wholesaledirectmetals.com...id=CCdedicated
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    President Obama: If You Like Your Retirement Plan, You Can Keep It - Live Feed


    Submitted by Tyler Durden on 01/29/2014 14:09 -0500

    This should be good - President Obama sets out to explain how his new "MyRA" plan is for your own good...

    As we highlighted last night:

    Presenting: the MyRA, and since it offers "guaranteed return and no risk" we now know where all the Fed's bond trades will go to work once QE ends.

    From the president:

    Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can...

    Or put another way - if you like your retirement account you can keep your retirement account.

    And just like that, the "automatic" continuity to the Fed's Quantitative Easing is ensured.

    http://www.zerohedge.com/?page=1&des...bQ&op=Log%20in
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    Obama Introduces MyRA: The "No Risk, Guaranteed Return" Retirement Savings Bond

    Submitted by Tyler Durden on 01/28/2014 22:32 -0500


    Earlier today we hinted at what was coming in "Obama To Unveil Treasury IRAs." Well, here it is, and it even has a catchy name. Presenting: the MyRA, and since it offers "guaranteed return and no risk" we now know where all the Fed's bond trades will go to work once QE ends.

    From the president:

    Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can...

    Or put another way - if you like your retirement account you can keep your retirement account.

    And just like that, the "automatic" continuity to the Fed's Quantitative Easing is ensured.

    One final point: in the aftermath of the demonstration that the market is run by absolute idiots, courtesy of TWTRQ and NEST, we fully expect that tomorrow Myriad Entertainment & Resorts, stock ticker MYRA, trading at a lofty price of $0.00, will soar tomorrow to, what else, Obama's target price of $10.10.




    http://www.zerohedge.com/news/2014-0...t-savings-bond

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    The Final Swindle Of Private American Wealth Has Begun

    February 4, 2014 by Brandon Smith

    I began writing analysis on the macro-economic situation of the American financial structure back in 2006, and in the eight years since, I have seen an undeniably steady trend of fiscal decline.
    I have never had any doubt that the U.S. economy was headed for total and catastrophic collapse, the only question was when, exactly, the final trigger event would occur. As I have pointed out in the past, economic implosion is a process. It grows over time, like the ice shelf on a mountain developing into a potential avalanche. It is easy to shrug off the danger because the visible destruction is not immediate; but when the avalanche finally begins, it is far too late for most people to escape…
    If you view the progressive financial breakdown in America as some kind of “comedy of errors” or a trial of unlucky coincidences, then there is not much I can do to educate you on the reasons behind the carnage. If, however, you understand that there is a deliberate motivation behind American collapse, then what I have to say here will not fall on biased ears.
    The financial crash of 2008, the same crash which has been ongoing for years, is NOT an accident. It is a concerted and engineered crisis meant to position the U.S. for currency disintegration and the institution of a global basket currency controlled by an unaccountable supranational governing body like the International Monetary Fund (IMF). The American populace is being conditioned through economic fear to accept the institutionalization of global financial control and the loss of sovereignty.
    Anyone skeptical of this conclusion is welcome to study my numerous past examinations on the issue of globalization; I don’t have the time within this article to re-explain, and frankly, with so much information on dollar destruction available to the public today I’ve grown tired of anyone with a lack of awareness.
    If you continue to believe that the Fed actually exists to “help” stabilize our economy or our currency, then you will never find the logic behind what they do. If you understand that the goal of the Fed and the globalists is to dismantle the dollar and the U.S. economic system to make way for something “new”, then certain recent events and policy initiatives do start to make sense.
    The year of 2014 has been looming as a serious concern for me since the final quarter of 2013, and you can read about those concerns in my article Expect Devastating Global Economic Changes In 2014.
    At the end of 2013 we saw at least three major events that could have sent America spiraling into total collapse. The first was the announcement of possible taper measures by the Fed, which have now begun. The second was the possible invasion of Syria which the Obama Administration is still desperate for despite successful efforts by the liberty movement to deny him public support for war. And the third event was the last debt ceiling debate (or debt ceiling theater depending on how you look at it), which placed the U.S. squarely on the edge of fiscal default.
    As we begin 2014, these same threatening issues remain, only at greater levels and with more prominence. New developments reinforce my original position that this year will be remembered by historians as the year in which the final breakdown of the U.S. monetary dynamic culminated. Here are some of those developments explained…

    Taper Of QE3

    When I first suggested that a Fed taper was not only possible but probable months ago, I was met with a lot of criticism from some in the alternative economic world. You can read my taper articles here and here.
    This was understandable. The Fed uses multiple stimulus outlets besides QE in order to manipulate U.S. markets. Artificially lowering interest rates is very much a form of stimulus in itself, for instance.
    However, I think a dangerous blindness to threats beyond money printing has developed within our community of analysts and this must be remedied. People need to realize first that the Fed does NOT care about the continued health of our economy, and they may not care about presenting a facade of health for much longer either. Alternative analysts also need to come to grips with the reality that overt money printing is not the only method at the disposal of globalists when destroying the greenback. A debt default is just as likely to cause loss of world reserve status and devaluation, no printing press required. Blame goes to government and political gridlock while the banks slither away in the midst of the chaos.
    The taper of QE3 is not a “head fake”, it is very real, but there are many hidden motivations behind such cuts.
    Currently, $20 billion has been cut from the $85 billion per month program, and we are already beginning to see what appear to be market effects, including a flight from emerging market currencies from Argentina to Turkey. A couple of years ago investors viewed these markets as among the few places they could make a positive return, or in other words, one of the few places they could successfully gamble. The Fed taper, though, seems to be shifting the flow of capital away from emerging markets.
    The mainstream argument is that stimulus was flowing into emerging markets, giving them liquidity support, and the taper is drying up that liquidity. Whether this is actually true is hard to say, given that without a full audit we have no idea how much fiat the Federal Reserve has actually created and how much of it they send out into foreign markets.
    I stand more on the position that the Fed taper was begun in preparation for a slowdown in global markets. In fact, I believe central bankers have been well aware that a decline in every sector was coming, and are moving to insulate themselves.
    Look at it this way: The taper program distances the bankers from responsibility for any dramatic changes in our financial framework, at least in the eyes of the general public. If a market crisis takes place WHILE stimulus measures are still at full speed, this makes the banks look rather guilty, or at least incompetent. People would begin to question the validity of central bank methods, and they might even question the validity of the central bank’s existence. The Fed is creating space between itself and the economy because they know that a trigger event is coming. They want to ensure that they are not blamed and that stimulus itself is not seen as ineffective.
    We all know that the claims of recovery are utter nonsense. One need only look at true unemployment numbers, dismal sales reports from last quarter, and the all time low household savings of the average American to see this. The taper is not in response to an improving economic environment. Rather, the taper is a signal for the next stage of collapse.
    The exodus from emerging market currencies and stocks was coming regardless of the Fed taper because of a global slowdown in demand. This slowdown is clearly visible in the Baltic Dry Index, which has lost around 50 percent of its value in the past three weeks.
    Stocks are beginning to plummet around the world and all mainstream pundits are pointing fingers at the reduction in stimulus. What is the message? That we “can’t live” without the aid of the central banks. The truth is, the effectiveness of stimulus manipulation has a shelf life, and that shelf life is over for the Federal Reserve. I suspect they will continue cutting QE every month for the next year as stocks decline.

    Government Controlled Investment
    Last month, just as taper measures were being implemented, the White House launched an investment program called MyRA; a retirement IRA program in which middle class and low wage Americans can invest part of their paycheck in government bonds.
    That’s right, if you wanted to know where the money was going to come from to support U.S. debt if the Fed cuts QE, guess what, the money is going to come from YOU.
    For a decade or so China was the primary buyer and crutch for U.S. debt spending. After the derivatives crash of 2008, the Federal Reserve became the largest purchaser of Treasury bonds. With the decline of foreign interest in long term U.S. debt, and the taper in full effect, it only makes sense that the government would seek out an alternative source of capital to continue the debt cycle. The MyRA program turns the general American public into a new cash stream, but there’s more going on here than meets the eye…
    I find it rather suspicious that a government-controlled retirement program is suddenly introduced just as the Fed has begun to taper, as stocks are beginning to fall, and as questions arise over the U.S. debt ceiling. I have three major concerns:
    First, is it possible that like the Fed, the government is also aware that a crash in stocks is coming? And, are they offering the MyRA program as an easy outlet (or trap) for people to pour in what little savings they have as panic over declining equities accelerates?
    Second, the program is currently voluntary, but what if the plan is to make it mandatory? Obama has already signed mandatory health insurance “taxation” into law, which is meant to steal a portion of every paycheck. Why not steal an even larger portion from every paycheck in order to support U.S. debt? It’s for the “greater good,” after all.
    Third, is this a deliberate strategy to corral the last vestiges of private American wealth into the corner of U.S. bonds, so that this wealth can be confiscated or annihilated? What happens if there is indeed an eventual debt default, as I believe there will be? Will Americans be herded into bonds by a crisis in stocks only to have bonds implode as well? Will they be conned into bond investment out of a “patriotic duty” to save the nation from default? Or, will the government just take their money through legislative wrangling, as was done in Cyprus not long ago?

    The Final Swindle

    The next debt ceiling debate is coming at the end of this month. If the government decides to kick the can down the road for another quarter, I believe this will be the last time. The most recent actions of the Fed and the government signal preparations for a stock implosion and ultimate debt calamity. Default would have immediate effects in foreign markets, but the appearance of U.S. stability could drag on for a time, giving the globalists ample opportunity to siphon every ounce of financial blood from the public.
    It is difficult to say how the next year will play out, but one thing is certain; something very strange and dangerous is afoot. The goal of globalists is to engineer desperation. To create a catastrophe and then force the masses to beg for help. How many hands of “friendship” will be offered in the wake of a U.S. wealth and currency crisis? What offers for “aid” will come from the IMF? How much of our country and how many of our people will be collateralized to secure that aid? And, how many Americans will go along with the swindle because they were not prepared in advance?

    -Brandon Smith


    Filed Under: Asset and Wealth Protection, Conservative Politics, Freedom Concerns, Government, Investing,Personal Liberty Digest™, Wealth

    http://personalliberty.com/2014/02/0...lth-has-begun/
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  10. #10
    Senior Member AirborneSapper7's Avatar
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    The MyRA Scam

    February 5, 2014 by Bob Livingston

    PHOTOS.COM

    Don’t fall for the President’s MyRA scam. You’d be better off putting that money under your mattress. It will still lose value because of inflation, but at least the government won’t know where it is so it can steal it.
    The President announced MyRA (though he pronounced it like he was reading for the first time) during his State of the Union address Jan. 28. If you didn’t smell boondoggle right off, you should have.
    According to the plan as announced, savers can begin with an initial deposit of $25 and contribute as little as $5 per payday. The money is invested in a Treasury security.
    The U.S. government is currently living off quantitative easing. I have described it in the past as pouring water into milk. But here’s a better analogy I heard over the weekend:
    A couple is short of money but has some bills they must pay. They have some old items they need to get rid of so they decide to hold a garage sale. On the day of the sale, the husband helps the wife set the items in the yard, then trots off to work.
    When he comes home that afternoon, all the items are gone. He’s ecstatic, the sale was a success and they have the money they need to pay the bills. The husband congratulates the wife on her entrepreneurship. She proudly proclaims they now have the money to pay the bills.
    When the husband looks into the garage he sees that all the items that were in the yard have been stored. He turns to his wife and says, “I thought you sold everything.”
    “I did. When nobody came to buy anything I just wrote a check and sold it to us.”
    That’s what the government is doing with Treasuries through quantitative easing to infinity. When the government goes bankrupt — and it will — those Treasuries will be worthless. And now the government is encouraging you to buy them.
    MyRAs will earn the same interest as the Thrift Savings Plan (TSP) Government Securities Investment Fund that is available to Federal employees. The TSP’s own paperwork says this about its interest rate: “The G Fund is subject to inflation risk, or the possibility that your G Fund investment will not grow enough to offset the reduction in purchasing power that results from inflation.”
    All your savings will be visible to government and available for confiscation — the same government that is already eyeing $19 trillion in pension funds, individual retirement accounts and 401(k) plans. Don’t think this will happen? Governments across the globe have already done so.
    If you want to “invest” in the U.S. government, there is currently a provision to do so. The MyRA plan mimics it. Just open an account with Treasury to buy U.S. savings bonds. The difference is that MyRA will be run by a crony Wall Street firm.
    President Barack Obama claimed the MyRA plan is a “starter savings account” to help people on low incomes and without employer-sponsored 401(k) plans save for retirement. But those on low incomes have no discretionary income for putting into a retirement account. In fact, according to the Corporation for Enterprise Development, nearly half of all Americans are currently living paycheck to paycheck. Many Americans have depleted their retirement savings to survive the current depression.
    The MyRA plan is a scam and a sham and another Ponzi scheme and should be avoided at all costs. Any discretionary income should go to pay off debt and/or buy silver or gold and store food and water, guns and ammunition, not prop up the government’s house of cards.

    Filed Under: Asset and Wealth Protection, Conservative Politics, Freedom Watch, Hot Topics

    http://personalliberty.com/2014/02/05/the-myra-scam/
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