Monday, August 2, 2010

Why the Government Wants to Hijack Your 401(k)


According to widespread media reports, both the U.S. Treasury Department and the Department of Labor plan are planning to stage a public-comment period before implementing regulations that would require U.S. savers to invest portions of their 401(k) savings plans and Individual Retirement Accounts (IRAs) into annuities or other "steady" payment streams backed by U.S. government bonds.

Folks, there's only one reason these agencies would do such a thing - the nation's creditors think that U.S. government bonds are a bad bet and don't want to buy them anymore. So like a grifter who's down to his last dollar, the administration is hoping to get its hands on our hard-earned savings before the American people realize they've had the wool pulled over their eyes ... once again.

It's easy to understand why.

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Another plan is for the federal government to give you a flat 3% return on your investments and they keep all earnings above the 3%. Great deal huh? The federal government is corrupt and will not think twice about stealing from you. They have had lots of practice...this is just the next step in making you a subservient citizen and a slave to the new Marxist regime.

Comments anyone? Have you had enough? Are you willing to take anymore chances with these commies?

What are you going to do?

1 comment:

  1. The chances of a financial meltdown are increasing. A year ago, there were 400 banks on the FDIC's risky bank list. Today there are 900 banks on that list.

    The assets used to back money market funds (401k's and IRA's) are as risky, if not more risky, than the risky banks. Banks and corporations are not stable in this current environment.

    If the companies collapse, your money market fund, as it is currently invested, will depreciate in value proportionately to the amount which was invested in those insolvent companies.

    Treasury bills are more stable. T-bills are backed by the full faith and credit of the federal government.

    Any differentiation in interest paid on money market funds would most likely result from the fees and expenses charged by an individual investment company (Fidelity, Vanguard, etc.). Some companies charge more than others.

    In today's environment, I would take safety over risk.

    ReplyDelete

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