Is it far-fetched to wonder if the government could take control of your retirement savings in 401(k)s and IRAs?
Or is that just a paranoid conspiracy theory?
The fact of the matter is that it’s not far-fetched, or a conspiracy theory. The groundwork has already been laid.
And the government already gave banks the green light to seize your bank accounts.
Read on for the facts – and I urge you NOT to discount the importance and urgency of this issue affecting your hard-earned savings…
The Government Has BIG Plans for Your Retirement Savings
An article in American Thinker titled “The Feds Want Your Retirement Accounts” revealed that, “Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts. Slowly the cat is being let out of the bag.”
And Bloomberg reported that,
The U.S. Consumer Financial Protection Bureau is weighing whether it should take a role in helping Americans manage the $19.4 trillion they’ve put into retirement savings.”
For the last 18 months, the Treasury Department has been testing the “myRA” program – which Obama created through executive order – no Congressional approval needed.
The myRA, which stands for “My Retirement Account” supposedly “guarantees a decent return with no risk of loss.”
And the only investment allowed in this account is a low-yielding Treasury security.
Of course, the Treasury wants to get more people signed up for this program, because it means more funds flowing right back into the U.S. Treasury to help the government meet its voracious borrowing needs. How convenient… [Read more…]