Mike Krieger
Liberty Blitzkrieg
February 3, 2013
Many people, including myself, have discussed this threat over the past several years. The obvious concept is that when the government runs out of money, or they face a drying up in interest for its debt, they will come for the $19.4 trillion in American’s retirement accounts. It seems that day may be finally drawing near.
I stopped contributing to my 401k back when I worked at Bernstein, and I will probably now have to give more serious consideration whether I want to take the penalty and move the funds out of my retirement account entirely. I haven’t made any decisions, but will be watching closely.
I’m sure the government is just trying to protect your retirement account from terrorists.
From Bloomberg:
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
“That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,†bureau director Richard Cordray said in an interview. He didn’t provide additional details.
The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.
http://www.infowars.com/its-coming-the-government-wants-to-help-manage-retirement-accounts/
Are we going to let these thievs steal this, they want even more control of your money, soon as we near a cashless society, it gives them even more control over your money and not allow you to have it when they choose.
When one steps back and look at it, this is not hard to do. Look at some parents who haven't paid child support, once they find out where that father is, they can freeze their entire account and you have no access what so ever to that money until you pay up. They don't care what amount it is. It is almost like an electrical blackout. Debit card wont work etc.
If the people vote for this and or support this means even more trouble. Hell look what they have done to social security, Millions have worked hard, slaving away only to be told there won't be any social security, there are still millions who are in their 30's and 40's and 50's who aren't going to see that money. Yet the Feds still take out chunks of your money even more so now. The work hours have slashed, so has good jobs for the PHD's.
40's hours doesn't exist for most not any more. Many have laid people off already, many businesses are closing down becuase they can't afford to pay obamacare.
The idiot has totally dismantled this country and he's going through the middle class, and will be hitting the poor too.
I would never support this if my life depending.
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Comments: 10
OK; This is my advice to that. DO IT! I am a Financial Investment and Loan Mngr. at a small Community Bank. My advice to you is invest the 401K into an IRA take the loss and penalty. The interest on a IRA and or a CD in a small community bank is higher than a 401k. In ten years you will find that this was the best investment decision you could of ever made.
A small community bank is much more stabil than a Coorporate Bank as they do not take the Loan and Investment risks that your Corporate banks take like we seen in the latest 2008 Housing Hedge Fund Fiasco.
Furthermore you are One of the few that is in the KNOW concerning what is headed our way in America and across The Western World.
As far as Soc. Sec. do not believe the lie's. ast count there was 27 Trillion Dolars Accessable. But it isn't promising that there will be any Federal Assistance Programs in the Future due To The New World Order and Agenda 21.
A Memo Head came across my desk last week concerning the story you are talking about. Small Community Banks WILL NOT ALLOW THE GOVT. to dip their little fingers into your IRA's or CD accounts let alone Savings or Checking.
What concerns the Investment World right now is the coming Super Inflation and whether the Dollar can survive. It doesn't look too promising. There is a tingent of concern among Financvial Investors concerning big ticket Buyingh and Investing right now. The economy has stalled at this point and unemployment is showing signs again of increasing.
Your right about businesses closing. Retail Giants such as J.C. Penny, Radio Shack, Sears, and Old Navy are again going to do a wide sweep shut down of Department Stores in America. Some Small businesses are dwindling away as well. And it is exactly why you have said.
As far as PObama is concerned He is just an answer man for The "Shadow Govt." Its a Do it or die situation for Obama. The Elites behind the scenes are working fast and furious Towards The New World Order & Agenda 21. I suggest all to read Orwells Book "1984".
Just an inside tip.