Lock and Load
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Posted on 09/14/2010 5:42:35 AM PDT by bestintxas
Is the government making plans to confiscate your retirement money? The Obama administration is certainly exploring the idea.
This question no longer seems far-fetched when the group-thinkers in Washington unabashedly promote a doctrine of wealth redistribution and central planning. These Keynesian socialists know they will need vast new sources of revenues to fund their relentless spending binges to "transform" this nation. A logical next step would be to legitimize the confiscation of private retirement assets; an idea that was contemplated in the recent past by the Clinton administration.
According to the Investment Company Institute, there was $7.835 trillion in IRA, 401K, 457, and 403b accounts in 2009. That is certainly too large a sum to be ignored by the big spending social engineers in Washington. Bureaucrats and politicians have been hard at work formulating a social justice excuse to legislate an historic seizure of private assets. This would not be the first time the statists extorted wealth from US citizens on a massive scale.
The public shakedown always employs a two step tactic to repeatedly dupe the malleable electorate. First, the statists fabricate and incessantly excoriate a contrived crisis of social injustice that is victimizing helpless and unknowing Americans. Next, they "craft"; a term Pelosi uses again and again, insidious legislation disguised as a necessary and compassionate solution that makes participation and universal funding compulsory by force of the law.
It is a simple and effective strategy that continues to trip up even the staunchest conservatives who ultimately succumb to the throng of propagandized constituents demanding
(Excerpt) Read more at americanthinker.com ...
Go ahead. Make my day.
There will be blood spilled if this happens. Democrats are insane to think this will fly.
Everyone’s 401(k) and IRA do not have any CASH in them.
To get any money at all, the SHARES will have to be sold on the OPEN MARKET to be liquidated.
If the government is THAT STUPID, we’re DOOMED.................
DemocRats who support this will be _individually_ targeted for retribution.
It won’t matter how much “security” they have.
they better do it suddenly and/or by stealth, or I predict much of that “$7 trillion” will flow into mattresses
Oh have no fear. They will just transfer ownership. They do no best after all.
No shares have to be sold. The ownership of those shares will be transferred.
Put your hands on my IRA and that is where they are going to stay.
This has been in the air for sometime now. Methinks the hooligans are wanting you to pull out and get hit with the penalties? Who gets that anyway....?
It doesn’t matter if the “transfer ownership”, they still cannot get any money to fund social security, Obamacare, union pensions or anything else unless these shares are sold to someone who will give them cash to sue. China? India? Russia? Zimbabwe?.............
“If the government is THAT STUPID, we’re DOOMED.................”
ummmm..........yea
sue = use.............
Tada! Suckers. The government workers and employees will loot your arses of $$ if they do not get the pay Zero promised them. Right now treasuries which cannot be paid back are the only thing keeping their salaries and some spending in this economy. After this, it’s IRA and gold and gun confiscation... suckers.
If it’s revolution we need, I can’t think of a better way to light the fuse on one than to try and seize people’s 401Ks an/or IRAs. I think that might just be the straw that breaks the camel’s back, because people realize those bonds aren’t fit to wipe one’s arse with and that money would be gone forever as soon as the Gubment gets their mitts on it.
As soon as that plan was announced, that 7 Trillion would evaporate overnight as people pull their money out before it is gone, and damn the penalty. Imagine the effect on the Markets if Premier Hussein triggers a panic run on retirement accounts, and people remove even a relatively small fraction of $7 Trillion from circulation and buy gold with it or just stuff the cash in a mattress.
Besides, can you imagine this crew getting their hands on that much liquid cash??!!
This scheme is a one-way ticket to a 4000 (or lower) Dow Jones Industrial Average, and is indeed one very good way to start us on a quick slide down the drain without even a courtesy lap around the bowl first.
$7 trillion” will flow into mattresses
My % is already in a ‘mattress’ as of Jan 2009.
I saw this scenario back then and warned others.
Wasn't the same said before the passage of 0bamaCare?
Lock and Load
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They have to be sold if the gummi wants the cash.
Its all numbers in a computer. I hear what you’re saying but they will find a way to get their hands on that money and redistribute it.
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