Friday, January 8, 2010

IRA's, 401K's, 403b, 457 etc will be used to buy Treasuries ???!!!

"A possible scenario ...

1. BHO gets on the TeeVee and tells everyone to put their retirement funds in Treasuries because it's in the interest of the nation (ala Savings Bonds or War Bonds). Suzie Orman is prominent in ads that promote this move.

2. After a respectible period of time, the market crashes.

3. J6P kicks him/herself and says, "Gee, I should have listened to BHO."

4. From that point on, everyone listens to BHO and does exactly what he tells them to do.

(A replay of March of 2009).

See how easy it is to take over a country?"

"The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort."

Obama Administration Wants to Annuitize 401k's and IRA's - Mandatory "R Bonds"

"...this looks to me like a raw admission that Treasury knows it will not be able to sell its debt in the open market - so they will effectively tax you by forcing your "retirement" money to buy them!...This 'proposal' can only mean one thing - Treasury smells smoke.  Maybe you should pay attention to what they're huffing!" 

Obama to meddle with your retirement account? Administration considers forcing investors into Treasury debt

Here comes the screw job

Americans Oppose Proposals to Limit 401(k)s, ICI Says

Market Insiders - CNBC Video

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