July 25, 2014

Government Confiscation of Private Retirement Accounts: 401K & IRA

Does a Government takeover of your 401K & IRA retirement accounts sound crazy?  Well, that idea has been around Washington for quite a while and it is starting to gain traction.

The Department of Labor recently released this update:

U.S. Department of Labor publishes agenda for September 14-15 joint hearing on lifetime income options for retirement plans

Washington Today the U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) released the agenda for the upcoming joint hearing with the Department of the Treasury on lifetime income options for retirement plans.

Here is the direct link: http://www.dol.gov/ebsa/newsroom/2010/ebsa082610.html

At first glance, the “Lifetime Income Options” for retirement plans sounds innocent enough and doesn’t raise any red flags.  After all, everyone wants their retirement income to last a lifetime.  Don’t be fooled. This is another step in the process of a Government takeover and confiscation of private individuals’ 401K and IRAs.  This is not a new idea and is something that I have been talking about to my close friends and family.  Sometimes I get some strange looks and I am called a conspiracy theorist, but it makes perfect sense if you look at the situation from the Government’s point of view.

The reality is, the United States is bankrupt.  Our debt is starting to cause us real problems and we are at or near the end of the ability to borrow money at cheap rates.  We are already monetizing the debt by allowing the Federal Reserve to buy Government bonds, but the United States needs more money while there are trillions socked away in private 401K & IRAs.  It is way too tempting for a desperate Government leave such a big stock pile of cash just laying there while they are in such “need”.  After all, why should the slaves have money when the master is in such need?

I will write much more on this subject, but for now I would like to refer you to an article written by Patrick Heller.  It does a nice job of explaining some of the logic.  Here it is: http://bit.ly/bLtmrn

This is a perfect example of what I call “a more elegant form of enslavement”.  We don’t see the physical shackles and chains, but we are in bondage and most of the people in the United States don’t even know it.

If you haven’t gotten your financial house in order, it is time (way past time) for you to get started.  Please pass this on to your friends.  It is critically important.

Breaking the Chains that Bind,

New Wave Slave

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  1. Ginger says:

    Well, the government has spent all of the social security money that Americans have given them for investment and was to be put in “trust”. They “blew it” and we are l4.5 trillion dollars in debt !!
    NOW, the government wants the hard earned pension and IRA money from “we the people” !! Fool us once, shame on you – FOOL US TWICE, shame on us !!!!!!!!!!!! The government wants a revolution if OBAMA thinks he will now get our pension/IRA money !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


  2. Heather says:

    Is this true? Is the government really going to confiscate our 401ks, IRAs and any other forms of private money that we have invested? If so when is this going to happen? What will the government do when people begin taking their money out of investments to keep to them selves and just taking the penalties for early withdrawl? I myself will be withdrawing everything we’ve put into our 401k if the goverment attempts this.

    • Dean says:

      When the bastards in Washington decide to steal your 401k they will do it behind closed doors and lock you out of any access to your money. *******THAT IS THE WAY THESE THEIVING COWARDS WORK**********. That is the way our government has worked for many years. “My opinion only” You take a good look at the governments track record and form your own opinion. We have been forced to give up savings in the form of SSI and the government could not manage that. After I have been a responsible citizen and saved some money, they want to steal that too. Should I be bitter. YES_YES_YES!!!!!!!!!!!!!!!!!!!!!!!!! and you should be too. The solution………………….. BOOT ALL THE LYING THEIVING BASTARDS that even talk in favor of such an act of treason agenst their honest and responsible citizens

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