The Obama Administration plans to steal your 401(k)!
Obama's secret plan to nationalize your 401(k) and IRA
Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!
Forcing people into Treasuries as an "annuity" is exactly what Social Security allegedly is. Except that Treasury stole the money that was collected in FICA taxes and spent it!
Guess what? They'll do that here too - you're going to "invest" in Treasuries which of course are effectively a CALL option on the future taxing ability of the government.
What's even worse is that the government has intentionally suppressed Treasury yields during this crisis (and will keep doing so by various means, including manipulating the CPI - the "inflation index" - as they have for the last 30 years) so as to guarantee that you lose over time compared to actual purchasing power.
Obama isn't content with just nationalizing a few key industries, or dictating to bankers and Wall Street tycoons, or even controlling our health care. He wants to make every single person completely dependent on the federal government.
Confiscation of IRAs and 401 (k)s
“Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration.” So reads a press account.
Congress already mandates Social Security and Medicare. It already restricts financial freedom with all the rules and taxes on investments and IRAs. Seizure of pension and IRA assets is a logical extension of its power, which it will pursue as far as it can. And if enough people gain from this seizure and the patsies (victims) are powerless to stop it, it will happen.
In the limit, Congress owns us and we are slaves. The sooner that this is widely recognized for the tyranny that it is, the sooner that the slaves can find ways to separate from the Union and leave the parasitical government to the parasites who support it.
Your lives are belong to Washington.
UPDATE:
Thanks for the link!