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NOW OBAMA WANTS YOUR 401(K)

Home - by - November 29, 2012 - 17:00 America/New_York - 34 Comments

WND

NEW YORK – Two years ago, as WND reported, the Obama administration was proceeding with a novel way to finance trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.

Remarkably, those financial professionals specializing in private retirement savings and the U.S. citizens investing in private retirement plans now face the possibility the Obama administration and its allies on the political left will impose rules and regulations that effectively abolish the private retirement savings and investment markets.

Recent evidence suggests government officials continue to eye the multi-trillion dollar private retirement savings market, including IRAs and 401(k) plans, eyeing the opportunity to redistribute private retirement savings to less affluent Americans and to force the retirement savings out of the private market and into government-controlled programs investing in government-issued debt.

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h/t  RightWingFeather

» 34 Comments

  1. Joe

    November 29th, 2012

    You were warned. Now you all gonna hurt real bad. Four more years for the fools.

    Noteworthy Comment Thumb up +23

     
  2. Bad Brad

    November 29th, 2012

    Ha Ha, Jokes on him, I had to through mine back into my Biz due to his wonderful little economy he’s created.

    Noteworthy Comment Thumb up +15

     
  3. persecutor

    November 29th, 2012

    As if WE’RE suprised?

    Noteworthy Comment Thumb up +11

     
  4. Tim

    November 29th, 2012

    Right out of the Nazi playbook.

    Anybody who didn’t see this coming has no knowledge of history.

    Noteworthy Comment Thumb up +32

     
  5. illustr8r

    November 29th, 2012

    We’ll sell off everything before he’ll get one cent.

    I am in disbelief that this could happen-well, not really- but WTF will the O voters (not the total kool aid drinkers) but the ones who watch the Daily Show and voted for O because he’s cool (and repubs are not)wake the h*ll up NOW?

    Noteworthy Comment Thumb up +18

     
  6. The Dolfer

    November 29th, 2012

    This will be the breaking point. He will not survive, literally, a decision like this. People will take action and off those who are behind the scheme. of course these people will be characterized as racist tea party members, the riots will start, the MSM will throw gasoline on the already raging fire, and the country will be left in ashes, again, literally.

    I don’t like predicting this, and I hope I am wrong. I just don’t think I will be.

    Noteworthy Comment Thumb up +25

     
  7. Ten Megaton

    November 29th, 2012

    Fuck that.

    Noteworthy Comment Thumb up +17

     
  8. chiefillinicake

    November 29th, 2012

    Hey, they already own the banks. It’s not like we have a gold standard or anything.

    Nope, just a keystroke to abscond with your hard-earned funny money through electronic transfer.

    It’s almost worthy of a Bond script.

    Thumb up +8

     
  9. Diann

    November 29th, 2012

    Jesus, Joseph & Mary somebody teach this parasite how to earn his own living.

    Noteworthy Comment Thumb up +23

     
  10. Carlos The Jackal

    November 29th, 2012

    At some point thieves are going to get exactly what thieves deserve; hopefully sooner than later.

    Noteworthy Comment Thumb up +24

     
  11. FreedomCat

    November 29th, 2012

    Knew this was a coming. They just can’t wait to get their greedy little hands all over our money. Thinking about pulling my money out now especially before taxes go up. Cash is king now.

    Noteworthy Comment Thumb up +10

     
  12. joe6pak

    November 29th, 2012

    You can also be sure that there will be some sort of exemption for union pensions. Fundamentally transforming America.

    Noteworthy Comment Thumb up +14

     
  13. Dr. Tar

    November 29th, 2012

    Appalling.

    There has to be some Constitutional violation here forcing citizens to take on government paper involuntarily. I guess they already do it with SS but most people don’t understand the nature of that Ponzi scheme. This would be direct robbery without any confidence game.

    I guess I shouldn’t be surprised this these communist think everything belongs to the state and they just let us delude ourselves that there is private property.

    Noteworthy Comment Thumb up +13

     
  14. Uncle Dirt

    November 29th, 2012

    The (commie) chickens are coming home to roost!

    Thumb up +6

     
  15. Sidekick

    November 29th, 2012

    This guy wants open rebellion.

    Noteworthy Comment Thumb up +23

     
  16. pissedpatriot30

    November 29th, 2012

    Yeah… and then what?

    Thumb up +1

     
  17. pissedpatriot30

    November 29th, 2012

    3 TERMS 3 TERMS 3 TERMS

    Yaaaaaaaaaaaaaahhhhhhhhhhh!

    Thumb up +3

     
  18. msq

    November 29th, 2012

    gunshow down at the state fair grounds in Phoenix tomorrow folks!

    see you there, bring your 401K.

    Noteworthy Comment Thumb up +16

     
  19. AvgDude

    November 29th, 2012

    It’s only going to hurt those who prudently saved for their retirement. The idiots who spend every dime won’t be bothered by this unless they’re required to contribute a certain percentage to their 401k; so it can be ripped off by the democrats and given to scumbags. And after our retirement savings are ripped off, they can just send around goon squads to hold us upside down and drain our pockets.

    And the democrats will stil get re-elected into power because the US is now the land of the grifter scumbag and the lowlife slacker. I will never fly a US flag again, period, because it’s stands for nothing more now than ripping people off.

    Noteworthy Comment Thumb up +21

     
  20. Edith McCrotch

    November 29th, 2012

    If that happens, somebody will end up with a bullit to the head…I guarantee that.

    Noteworthy Comment Thumb up +14

     
  21. Edith McCrotch

    November 29th, 2012

    bullet…heh heh.

    Thumb up +4

     
  22. Doc

    November 29th, 2012

    I long for the day when I turn on the morning news to hear some distraught obamabot snapped an capped his ass at one of his rallies. That would put a big ass smile on my face. I put him in the same catagory as an arab terrorist.

    Noteworthy Comment Thumb up +15

     
  23. Blink

    November 29th, 2012

    What is the difference between the actions of organized crime, aka mafia-like criminals, and the actions of government?

    The government makes their crimes legal.

    However, they can not make their crimes moral or ethical.

    Noteworthy Comment Thumb up +10

     
  24. Xavier

    November 29th, 2012

    Sooner or later, even libtards are going to realize that government exists only to steal from the citizens and promote it’s own growth.

    Modern government has no redeeming qualities – defense, education, and infrastructure are all done to protect the revenue producing flock and boost the amount of money that can be extracted from the populace.

    They’re walking a very fine line between maximizing revenue and inviting insurrection. Were the MSM not complicit in the takeover, we’d be in a rebellion already. If the MSM turned on the government or another force made people aware of their subjugation, history might take a sharp and sudden turn toward freedom again.

    Noteworthy Comment Thumb up +10

     
  25. Rick

    November 29th, 2012

    FreedomCat, get out now while the gettin’s good. I punched out right after the peak in mid-late September. Now, I’m gonna sit back and laugh.

    Dr. Tar, the precedent was set when FDR forced Americans to give up their gold for government paper. (Fuck you Franklin!) How much tougher you think it’s gonna be to force people to trade their good-right-now paper for good-(maybe)-in twenty-years paper?

    Xavier, I figure the MSM “journalists” will get taken out in the second wave.

    Thumb up +8

     
  26. Precious metals, Baby.

    November 29th, 2012

    This is news??
    Anybody who has done any serious reading knows they’ve been salivating over those accounts since 2004. But, it’s “delicate”…one must tread slowly.

    This would be a two-pronged bonanza for the state. They would just LOVE to get their hands on all that cash (and there’s a SHITLOAD of it).
    And, by robbing the people of their savings, they would also be robbing them of their autonomy, their future, and most importantly, their life choices, including the choice to leave the shithole their country is becoming.

    Liquidate.

    Noteworthy Comment Thumb up +10

     
  27. Billy Fuster

    November 29th, 2012

    Everyone that’s played by the “legal” rules is now going to get “legally” screwed.

    Noteworthy Comment Thumb up +11

     
  28. bitterclinger

    November 29th, 2012

    This kind of action is on par with a terrorist attack. If we don’t stand up to this, we’ll be laying down as serfs for the rest of our lives.

    Noteworthy Comment Thumb up +12

     
  29. FreeMan & Sarah Intend to Defend

    November 29th, 2012

    That is called theft brother.

    Replace your cash with a freaking JUNK BOND, no freaking way.

    I am cashing out now, and for silver, not reserve notes.

    Thumb up +9

     
  30. Wraith

    November 30th, 2012

    @ Dr Tar: Dude, if you think the Constitution is in any way relevant any more, then you really haven’t been paying any attention.

    All you folks who think you can cash out, you’d better check the terms of your 401K. I can’t have what’s supposed to be MY money unless I lose my job.

    Nice, huh? >:(

    Thumb up +3

     
  31. spymyeyes

    November 30th, 2012

    @wraith,

    There are a shitload more rules more onerous than that one!

    Once you lose your “job” you will have access to all that “ill gotten gain” called a 401k,….BUT….

    If you try to physically posess “ANY” of “your” money, you will face a list of fines, fees, & penalties, longer than your arm that will take about 1/3 to 1/2 of your total amount of bennie-bucks, and that is just at the FEDERAL LEVEL.

    then you have to deal with state & local fees & fines, and then you have to deal with the individual plans fees, fines, and penalties for early withdrawl.

    Once you have paid-off the parasites whatever you have left is considered INCOME and it will bump you into the next higher tax bracket for the year you take it out, so your income tax will double or triple for that year.

    SO EITHER WAY THE GUBBERMINT WILL GET HUGE INFLUXES OF COLD HARD CASH BECAUSE THE GAME IS RIGGED IN THEIR FAVOR.

    Thumb up 0

     
  32. Dadof3

    November 30th, 2012

    I gots no IRA and such.

    I do NOT recomend my strategy even though I have enough money to last the rest of my life.

    Provided I die by 4pm this Saturday.

    Thumb up 0

     
  33. Dadof3

    November 30th, 2012

    If bullets do start flying, wouldn’t the MSM be the most effective targets to start with?

    The propaganda machine must be taken down and/or taken over.

    Thumb up +1

     
  34. Dadof3

    November 30th, 2012

    I think my lefty friends should live and suffer as much as possible before they give up the ghost.

    None of them are prepared for the really hard times of RWOL.

    So they are little physical threat and likely to expire from lack of food or the crime that will come their way when desperate people come looking for whatever they may have that’s desirable.

    Thumb up 0