Re: Obama quietly nationalizes IRAs & 401Ks

Thanks for sharing this JSM......

 

 

On Thu, Feb 10, 2011 at 6:21 PM, JSM <ekrubmeg@gmail.com> wrote:

Nationalized IRAs & 401(k)s

"Government Guaranteed Retirement Income"

Do you Believe Government Run IRAs and 401(k)s are Coming?...

Would You believe it if President Obama announced it, In Front of 45 Million people?

He Quietly Did!.. You're about to see the Video for yourself.

But, first!.. You must Understand who's behind it AND why Our government says we need it.

Who's Behind It?

The Obama Administration and a powerful network of Congressional activists, along with
the highly-influential Ford and Rockefeller Foundations.

The 40l(k)/IRA de-privatization plan is the brain-child of Teresa Ghilarducci of the Schwartz Center for Economic Policy Analysis - (SCEPA), who is funded by the Rockefeller Foundation.

Are There Any Government Documents To Prove It?

• In Chapter 3 of the Annual Report on the Middle Class released in February by Vice President Biden and the White House Task Force on the Middle Class, the Obama administration calls for enhancing the "retirement options" The plan, as sketched in the 43-page document, calls for the creation of something called "Guaranteed Retirement Accounts" (GRAs).
• U. S. Federal Register; -"annuitization" of Individual 401(k)s. set forth in a set of "Proposed Rules" published on February 2, 2010.
• Government Printing Office-(GOP) a picture can be seen below.

What Government Agencies Are Involved?

Department of Labor and Treasury... among others. The last meeting took place September 14th and 15th 2010, where they laid out the Course of Action. The agenda is now called "Lifetime Income Options for Retirement Plans"

Why Do They Want Our IRAs & 401(k)s AND What Will They Do With Them?

The Treasury Department has (worthless) Bonds to Sell... and Foreign demand is drying up.
China no longer wants our Debt.. Do You?

This will be Done in an attempt to balance the U.S. Deficit and Once Again make the U.S. Credit Worthy to China and Other Buyers of our Debt.

The Federal Government will Manage and Control an estimated $3.613 Trillion Dollars in IRAs and $2.350 Trillion Dollars in 401(k)s.

The Equity will be placed in U.S. Treasury Bonds that will Pay out an estimated 3%. One major clause is that upon retirement, the value of the Individual's Account will be placed into Annuities. Once the individual Dies, the Value of the Account will automatically become property of the Government. The Program will be structured much like Social Security Accounts (the biggest Ponzi Scheme ever created).

The video?  It is called the "State of the Union" speech. 

--
When fascism comes to America, it will be wrapped in the flag and carrying the cross.

Sinclair Lewis

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