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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