They Want Your IRA (White House pushes investors toward government accounts)

WSJ ^

[Red in Blue PA]

President Obama’s regulators aren’t slowing down, alas. And on Wednesday they unveiled another part of their plan to push Americans out of private investment accounts and into government-run plans.

[Red in Blue PA]

The Department of Labor says its so-called fiduciary rule will make financial advisers act in the best interests of clients.

What Labor doesn’t say is that the rule carries such enormous potential legal liability and demands such a high standard of care that many advisers will shun non-affluent accounts.

Middle-income investors may be forced to look elsewhere for financial advice even as Team Obama is enabling a raft of new government-run competitors for retirement savings.

This is no coincidence.

Labor’s new rule will start biting in January as the President is leaving office.

[CincyRichieRich]

This was posted last night or this morning; very scary.

Ted?

Trump?

Crickets??

[llevrok]

Once the camel sticks it’s nose into the tent, the whole tent gets fleas.

[eyeamok]

This has been going on for over 10 years, the Money Changers have no choice. The Math is catching up quickly and we need another scheme to keep the game going.

[Lurkinanloomin]

Quickest route to real rebellion.

[johniegrad]

This was posted last night or this morning; very scary.

This story gets recycled at least once a year on FR since the date I signed up.

[DIRTYSECRET]

It will happen because we will let them. No fight on our side. The idea shouldn’t even be brought up but ur opponents are not afraid.

Combine the issue with a reintroduction of the Draft will get people to pay attention.

[SkyPilot]

This has been in the works for years:

Watch Out: Your 401(k) Is Being Targeted

What really got the ball rolling was the 2015 US Supreme Court unanimous decision in Tibble v. Edison.

Martin Armstrong Warns "Kiss Your Pension Fund Goodbye"

Obama's "My IRA" programs is nothing but a camel's nose under the tent.

Most retirement funds are married to the Stock Market, which is tremendously bloated and over valued due to years of QE, ZIRP, and manipulation.

During the next crash, we should watch carefully. I think that is when the powers that be could make their move.

[eyeamok]

It is ALL Intertwined, and necessary to keep the illusion going.

We live in a Country today that is built entirely upon CREDIT and Credit Money. All Federal Reserve Notes and Credits were LOANED in to society with Interest Attached. This in and of itself requires a Mathematical THEFT OF VALUE(inflation) on an Ever Increasing Basis just to stay even. ANd if you want Growth, the math grows exponentially. There is NO Way out of an Economy built entirely on CREDIT.

We need these Trade Deals to help MASK the Real effects of a Pure Fiat Currency using fractional reserve banking. Otherwise the whole thing would have collapsed a long time ago.

[djpg]

Will this have the effect of lowering the stock market becaus people would be putting money into government plans rather than stocks? If so, I can see why he waited until his term was about up before putting it in. Congress could probably do something about this bit won’t make any serious effort.

[aMorePerfectUnion]

Quickest route to real rebellion.

When they do it, they will give a Gov't guarantee in the midst of a crisis, when people are afraid and wanting to be rescued.

They will welcome their rescuer with open arms - though it will be mandatory.

Mine is already moved in anticipation of the event.

[virgil]

Another govt swindle. And Americans will quietly tolerate it too.

[DIRTYSECRET]

Here’s my plan: Every millennial under age 35 gets OUT of the Social Security plan. Leave it in place for those over age 55. In 30 years most of those people will be dead and so will the program. Those between 35 and 55 can be bought off with a wealth tax Mr. Trump envisioned. Throw the millennial a bone such asa $1-4k HSA.

[SkyPilot]

We should be careful to watch for the next crisis.

Full-Blown Panic Mode At The Fed?

Someone seems to have hit the emergency button at the Fed, as even though the central bank said that everything was just fine with the American economy just a few weeks and months ago, the situation has currently escalated into a full-blown panic mode. On Thursday, the Board of Governors of the Federal Reserve has called an ‘emergency’ meeting for Monday, April 11. That by itself is already very surprising, but a lot can be explained after looking at the most recent publication of the Atlanta Fed. The results of the forecasted GDP of the Atlanta Fed, should push a lot of people and investors into a depression. Just eight weeks ago, the Atlanta Fed forecasted GDP growth of approximately 2.5%, which would’ve been a very healthy growth rate, and even on March 11, the Fed was still expecting the GDP to grow by 2.3%.

[eyeamok]

I have a link on laptop at home showing BAILIN LAW already On the Books, DEPOSITORS will LOSE EVERYTHING to PAY BANK LOSSES.

[grania]

I could envision a day when the only tax-deferred retirement accounts are government annuities. What's wrong with that is that with an annuity when the person dies the annuity holder keeps the money. It's a great way to further destroy the middle class, by leaving less money for descendants.

Seems to me the best way to leave money to descendants is with an insurance policy. Let the kids pay the premiums when they're earning an income.

[dp0622]

good. then it can be reversed in January.

[SkyPilot]

When they do it, they will give a Gov't guarantee in the midst of a crisis, when people are afraid and wanting to be rescued. They will welcome their rescuer with open arms - though it will be mandatory.

That is EXACTLY the plan.

[SkyPilot]

Your Life Savings Could Be Wiped Out In A Massive Derivatives Collapse