Plans To Seize 401ks

[American Patriot]

Yikes!

[Ryan Ruck]

If you like your retirement plan, you can keep your retirement plan.

With us.

Remember how Obamacare was people being forced to buy a product they didn't necessarily want? Here's the next step... They won't seize your 401k, they're just going to force you to convert it into something that benefits them.

Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World

January 28, 2014

Wondering who will take over the mantle of Treasury bond buyer now that the Fed is stepping away? Curious of the government's next steps towards repression and control of wealth? Wait no longer. As the AP reports, President Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement. Of course, this is not the mandatory IRA that remains somewhat inevitable (as the muddle-through fails) but is certainly a step in the direction we alerted readers to a year ago by which the government generously offers to help manage your retirement savings. Two words spring to mind... remember Poland.

Via AP,

Eager not to be limited by legislative gridlock, Obama is also expected to announce executive actions on job training, retirement security and help for the long-term unemployed in finding work.

Among those actions is a new retirement savings plan geared toward workers whose employers don't currently offer such plans.

The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into a traditional IRAs, according to two people who have discussed the proposal with the administration. Those people weren't authorized to discuss it ahead of the announcement and insisted on anonymity.

Of course, this is not what the CFPB suggested a year ago... We're sure the government is just trying to protect your retirement account from terrorists. From Bloomberg:

The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.

The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

But it's getting close.

Though Poland remains the strawman...

[American Patriot]

This motherfucker needs to GO.

He needs to be IMPEACHED and arrested for treason. He has blatantly flaunted whatever powers he THINKS he has, ignored Congress, ignored the people of this country, refused to have his AG try criminals in his OWN administration, allowed Clinton to get away with the deaths of Americans, KILLED Navy Seals.

Those motherfuckers that bitched about Bush - where the FUCK are they NOW?

God Damn them all to HELL

[Ryan Ruck]

Oh don't worry, he won't be impeached. That would require Oompa Loompa Johnny Boehner to put down his pack of cigs and grow a sack.

We'll devolve into a shooting war before impeachment happens.

On FNC I just watched Dems in Congress clap like a bunch of trained seals while Obama stands up there and tells Congress he will usurp them whenever he can. We're fucked...

[American Patriot]

I didnt see any of the speech. We were indisposed last night, more to come on that later, privately.

I'm going to have to go watch it I guess.

[Ryan Ruck]

I didn't watch it or listen to it.

As soon as I heard it coming on Sirius Patriot while I was driving, I flipped over to Octane to listen to some rock instead. Eventually put on Patriot Plus to catch some NRA News too.

I suppose I should put on Rush in a little bit to hear his take on some highlights.

[Malsua]

I didn't watch it or listen to it.

As soon as I heard it coming on Sirius Patriot while I was driving, I flipped over to Octane to listen to some rock instead. Eventually put on Patriot Plus to catch some NRA News too.

I suppose I should put on Rush in a little bit to hear his take on some highlights.

Too bad you don't have XM...O&A are infinitely more entertaining than Howard.

My presets...

1. Opie and Anthony
2. XM Chill
3. Ozzy's Boneyard
4. Hair Nation
5. Lithium
6. Octane
7. 80s on 8
8. Fox
9. Nashville
10. The Highway(I think, it's a country station, mostly for my wife)

[Ryan Ruck]

I don't listen to either Howard or O&A.

My presets...

1. Patriot
2. BB King's Bluesville
3. Octane
4. Ozzy's Boneyard
5. Hair Nation
6. Lithium
7. Fox News
8. Metropolitan Opera
9. Seriously Sinatra
10. Backspin (what can I say, I like to put on the hip-hop from when I was growing up every now and then )

Patriot Plus is only available online so I get it over my phone app or on my laptop which I have one or the other hooked to my aux in.

[Ryan Ruck]

By the way, this discussion of satellite radio reminds me I need to call to threaten to cancel so I can get them to give me the 5 months for $25 deal they offer. Maybe a discounted year subscription if they offer it.

[Malsua]

I would do that except I'd be afraid they'd let me cancel.

I spend 2 hours a day in the car, I'd die without my O&A

[Ryan Ruck]

LOL. I'm in my truck 4-6+ hours so I'm like you.

Just tell them you're looking to trim expenses, considering cancelling, and wondering if they have any promotional prices they can offer. Supposedly it works every time. Only saw one person out of a couple dozen testimonials say they were actually willing to let them cancel.

If they do and you have an add-on radio (i.e. not factory equipment), I hear you just need to leave it disconnected 3 weeks. After 3 weeks your radio subscription will remain active and unchanged. Reason is they supposedly only broadcast the disconnect signal to your radio for 2 weeks. After that they stop to conserve bandwidth. If your radio never gets the signal, it never disconnects.

At least that is what I had heard a while back. No idea if it still works that way but I wouldn't be surprised if it does.

[vector7]

Saturday, January 25, 2014

Check your 401K and Retirement Plan! Plans being switched to ALL Government Bonds without Approval. Finding out by Retirement End of Year Statements


UPDATE - 1/29/14 - Obama introduced during his State of the Union Address, through Executive Action - MyRA - Retirement Accounts, equality for All! Where have I heard that before?.... Oh Right "Healtcare, Equality for All".

I got an email from Jim Willie, Golden Jackass, with an article and information linked about how people are finding out their 401K retirement plans have been switched to 100% government bonds without approval or notice. In fact they are being switched out from where the individual allocated their retirement money. Jim has been predicting that this would happen for awhile now and it appears his prediction is now becoming reality.

I wrote about retirement plans many times. The latest was how retirement plans are expensive and about Perpetual Assets and what they do. (The video of my interview of Will is on the side, that explains what Perpetual Assets is)

Here is an article from Economic Policy about how the government is coming after everyone's retirement accounts.

Check your statement and find out if your retirement plan is being rolled into government bonds too. Call your financial planner who is in charge of it, ask if your retirement plan can be put into bonds without you being notified.

I have information up on the side about Perpetual Assets. I really hope everyone with a retirement plan seriously considers having your retirement plan money in your OWN hands, where you completely control it!

I sincerely and deeply feel the only way for Freedom from government control of your money is controlling it yourself and holding it without the government getting their hands on it. I only put out information I believe in and I believe will help people.

It is that important!

USA Today published this article last month (December 2013) about how government bonds give you the most money for your retirement plan. The media is of course working with the government and Wall Street to get everyone's money, they are all in it together. They are putting propaganda pieces out ahead of the moves of everyone's money into government bonds.

Here is the original article linked at the top:

I just heard from a friend of mine that who worked for the Social Security Administration for a few years that his entire 401k has been moved from where he allocated it into US treasury bonds.He just received his annual statement that shows all of his funds have been moved, without his permission or even notice!This is what Max Keiser and Jim Sinclair have been predicting for over a year now. As far as I know, thus far this has only been applied to non-active employees, but it looks like the tip of the iceberg,and smacks of desperation.

Here is the statement of how his retirement fund has been switched to all government bonds without his approval or notice it was being done.

It is happening. The government IS in the process of getting the Trillions in retirement accounts and they will come after all of them. They will do what it takes for their Wall Street buddies and puppet masters.

My research on how stocks and bonds are put into a company's name that is owned by the Federal Reserve when you purchase them.

Cyprus and MF Global able to just steal everyone's money. The sanctioning of stealing people's money has already happened here and will happen in a big way with the retirement accounts.

PROTECT YOURSELF! HOLD AND CONTROL YOUR OWN RETIREMENT AND 401K PLANS! DON'T LET THE GOVERNMENT AND WALL STREET GET THEM!

Video about it all:

UPDATE 1/27/14 - Land Patent - Complete Sovereign Rights to your Land, Can never be taken by Government or by a Foreclosure! I investigated this due to a comment below. It is Real! Everyone who owns property needs to claim their Land Patent!


Jim Willie Speaks with me about MyRA - 'Obamaretire' - Government take over of Retirement Accounts

Jim Willie spoke with me this morning about Obama's Announced MyRA - forced government retirement plan.

He said the bonds won't just include U.S. government debt bonds but they will also have the toxic Fannie Mae bonds which is still loaded with FRAUD!

He covers the many angles to forced pension fund conversion to special USTreasury Toxic Bondsdiscusses the AIG and Lehman event a little.

Covers tax angles and the volume of private pension funds targeted next

Covers USGovt debt finance urgent requirements

[American Patriot]

So basically they are taking our IRAs and our investments in the actual market and selling off our shit and buying government bonds?

[Malsua]

I've not seen any such thing and if I did, I'd be livid. The government has no right to manage our 401k. Some people with managed plans may not have the option to change it themselves, and in this case they would be at the mercy of their plan manager, who might indeed do this.

[Phil Fiord]

I do not have any IRA's or 401k's. These have long been touted as a safe haven and I never really felt it was true as it seemed too good to be true with tax deferral or taxation at the deposit rate, etc. I mean, why would congress actually legislate a helpful thing? Ideally they would, but in reality I cannot think of much that has been done right or without some catch.

[American Patriot]

Obama Introduces MyRA: The "No Risk, Guaranteed Return" Retirement Savings Bond

Submitted by Tyler Durden on 01/28/2014 22:32 -0500

• Bond
• Quantitative Easing

Earlier today we hinted at what was coming in "Obama To Unveil Treasury IRAs." Well, here it is, and it even has a catchy name. Presenting: the MyRA, and since it offers "guaranteed return and no risk" we now know where all the Fed's bond trades will go to work once QE ends.
From the president:

Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can...

Or put another way - if you like your retirement account you can keep your retirement account.


And just like that, the "automatic" continuity to the Fed's Quantitative Easing is ensured.


One final point: in the aftermath of the demonstration that the market is run by absolute idiots, courtesy of TWTRQ and NEST, we fully expect that tomorrow Myriad Entertainment & Resorts, stock ticker MYRA, trading at a lofty price of $0.00, will soar tomorrow to, what else, Obama's target price of $10.10.



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[Ryan Ruck]

The Countdown To The Nationalization Of Retirement Savings Has Begun

January 5, 2014

Submitted by Nick Giambruno via Casey Research's International Man,

Simply put, the new myRA program put forward by Obama is at best a sucker's deal… or worse, it's a first step toward the nationalization of private retirement savings. (Note: If you haven't yet heard of myRA, I'd strongly suggest you read this excellent overview by my colleague Dan Steinhart.)

Even before the new myRA program was announced, there had been whispers about the need for the US government to assume some risk for US retirement accounts. That's code for forced conversion of private retirement assets into government bonds.

With foreigners not buying as many Treasuries and the Fed tapering, the US government has been searching for new buyers of its unwanted debt. And this is where the new myRA program comes in.

In short, it's ostensibly a new way for people to save for retirement. Of course, you can only invest in government-approved investments—like Treasuries—which probably won't even come close to keeping up with the real rate of inflation. It's like Jim Grant says: "return-free risk."

In reality, a myRA doesn't really provide any significant new benefits over existing options. To me it just looks like a way for the US government to pass the hot potato on to unsuspecting Americans in exchange for their retirement savings.

The net effect is the funneling of more capital to Treasury securities and thus helping the US government finance itself.

You'd be much better off using a precious metals IRA to save for retirement than participating in the government's latest Ponzi scheme.

There are other protective strategies as well, such as internationalizing your retirement savings into assets that are hard, if not impossible, to confiscate on a whim—like foreign real estate and physical gold held abroad. More on that below.

Retirement Savings Are Always Juicy Targets

As bad as it is to deceive naïve Americans into trading their hard-earned retirement savings for garbage (i.e., Treasury securities), the myRA program potentially represents something far worse… the first step toward the nationalization of existing private retirement accounts.

I believe myRA is a way to nudge the American people into gradually becoming more accustomed to government involvement in their private retirement savings.

It's incorrect to assume nationalization couldn't happen in the US or your home country. History shows us that it's standard operating procedure for a government in dire financial straits.

In just the past six years, it's happened in some form in Argentina, Poland, Portugal, Hungary, and numerous other countries.

To me it's self-evident that most Western governments (including the US) have current debt loads and future spending commitments that all but guarantee that eventually—and likely someday soon—they will try to unscrupulously grab as much wealth as they can.

And retirement savings are a juicy target—low-hanging fruit for a desperate government.

Naturally, politicians will try to slickly sell the idea to the public as something "for their own good" or as "protection from market instability." This is how similar programs were sold to skeptical publics in the past.

In reality, governments take these actions not to "reduce the risk" to your retirement savings or whatever propaganda they happen to come up with, but rather to obtain financing—by forcefully dumping their unwanted debt onto seniors and savers.

Below are several ways it has happened or could happen. Of course, there could always be some sort of new, creative proposal that was previously unthinkable. No matter the method, however, the end result is always the same—the siphoning off of purchasing power from your retirement savings.

New Contribution Mandate: The government could mandate, for example, that 50% of new contributions to private retirement accounts must consist of "safe," government-approved investments, like Treasury securities.

Forced Conversions: This is where a government will forcibly convert existing assets held in retirement accounts into so-called "safer" assets, such as government bonds. For example, if the US government forcibly converted 20% of the estimated $20 trillion in retirement assets (401k plans, IRAs, defined benefit and contribution plans, etc.), it would net them $4 trillion. Not a bad score, considering the national debt is north of $17 trillion.

Special Taxes: The government could look into levying special taxes on distributions from retirement, especially those deemed to be "excessively large."

In order to be more effective, forced conversations probably wouldn't happen until after official capital controls have been instituted. Once in place, capital controls would make it very difficult, if not impossible, for you to avoid the wealth confiscation that is sure to follow… like a sheep that has just been penned in for a shearing.

Since FATCA and other regulatory burdens already amount to a soft form of capital controls, it's absolutely essential that you start implementing protective measures now.

It's like I have always said: internationalization is your ultimate insurance against the measures of a desperate government. In the case that the government makes a grab for retirement savings, it's much better to be a year or two early rather than a minute too late.



Internationalize Your Retirement Savings

It's much more difficult for the government to convert your retirement assets if they're outside of its immediate reach. If you have a standard IRA from a large US financial institution, it would only take a decree from the US government and Poof!: your dividend-paying stocks and corporate bonds could instantly be transformed into government bonds.


Obviously, this is much harder for the government to do if your retirement assets are sufficiently internationalized.

For example, you can structure your IRA to invest in foreign real estate, open an offshore bank or brokerage account, own certain types of physical gold stored abroad, and invest in other foreign and nontraditional assets.

In my view, owning an apartment in Switzerland and some physical gold coins stored in a safe deposit box in Singapore beats the cookie-cutter mutual funds shoved down your throat by traditional IRA custodians any day.

If and when there's some sort of decree to convert or otherwise confiscate the assets in your retirement account, your internationalized assets ensure that your savings won't vanish at the stroke of a pen.

There are important details and a couple of restrictions that you'll need to be aware of, but they amount to minor issues, especially when weighed against the risk of leaving your retirement savings within the immediate reach of a government desperate for cash.

After placing a juicy steak in front of a salivating German shepherd, it's only a matter of time before he makes a grab for it. The US government with its $17 trillion debt load is the salivating German shepherd, and the $20 trillion in retirement savings is the juicy steak.

Internationalizing your IRA has always been a prudent and pragmatic thing to do. And now that the US government has now officially set its sights on retirement savings, it's truly urgent.

You'll find all the details on how it to get set up, along with trusted professionals who specialize in internationalizing IRAs in our Going Global publication.

[Ryan Ruck]

Europe Considers Wholesale Savings Confiscation, Enforced Redistribution

February 12, 2014

At first we thought Reuters had been punk'd in its article titled "EU executive sees personal savings used to plug long-term financing gap" which disclosed the latest leaked proposal by the European Commission, but after several hours without a retraction, we realized that the story is sadly true. Sadly, because everything that we warned about in "There May Be Only Painful Ways Out Of The Crisis" back in September of 2011, and everything that the depositors and citizens of Cyprus had to live through, seems on the verge of going continental. In a nutshell, and in Reuters' own words, "the savings of the European Union's 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says." What is left unsaid is that the "usage" will be on a purely involuntary basis, at the discretion of the "union", and can thus best be described as confiscation.

The source of this stunner is a document seen be Reuters, which describes how the EU is looking for ways to "wean" the 28-country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other investment. So as Europe finally admits that the ECB has failed to unclog its broken monetary pipelines for the past five years - something we highlight every month (most recently in No Waking From Draghi's Monetary Nightmare: Eurozone Credit Creation Tumbles To New All Time Low), the commissions report finally admits that "the economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment."

The solution? "The Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing", the document said."

Mobilize, once again, is a more palatable word than, say, confiscate.

And yet this is precisely what Europe is contemplating:

Banks have complained they are hindered from lending to the economy by post-crisis rules forcing them to hold much larger safety cushions of capital and liquidity.

The document said the "appropriateness" of the EU capital and liquidity rules for long-term financing will be reviewed over the next two years, a process likely to be scrutinized in the United States and elsewhere to head off any risk of EU banks gaining an unfair advantage.

But wait: there's more!

Inspired by the recently introduced "no risk, guaranteed return" collectivized savings instrument in the US better known as MyRA, Europe will also complete a study by the end of this year on the feasibility of introducing an EU savings account, open to individuals whose funds could be pooled and invested in small companies.

Because when corporations refuse to invest money in Capex, who will invest? Why you, dear Europeans. Whether you like it or not.

But wait, there is still more!

Additionally, Europe is seeking to restore the primary reason why Europe's banks are as insolvent as they are: securitizations, which the persuasive salesmen and sexy saleswomen of Goldman et al sold to idiot European bankers, who in turn invested the money or widows and orphans only to see all of it disappear.

It is also seeking to revive the securitization market, which pools loans like mortgages into bonds that banks can sell to raise funding for themselves or companies. The market was tarnished by the financial crisis when bonds linked to U.S. home loans began defaulting in 2007, sparking the broader global markets meltdown over the ensuing two years.

The document says the Commission will "take into account possible future increases in the liquidity of a number of securitization products" when it comes to finalizing a new rule on what assets banks can place in their new liquidity buffers. This signals a possible loosening of the definition of eligible assets from the bloc's banking watchdog.

Because there is nothing quite like securitizing feta cheese-backed securities and selling it to a whole new batch of widows and orphans.

And topping it all off is a proposal to address a global change in accounting principles that will make sure that an accurate representation of any bank's balance sheet becomes a distant memory:

More controversially, the Commission will consider whether the use of fair value or pricing assets at the going rate in a new globally agreed accounting rule "is appropriate, in particular regarding long-term investing business models".

To summarize: forced savings "mobilization", the introduction of a collective and involuntary CapEx funding "savings" account, the return and expansion of securitization, and finally, tying it all together, is a change to accounting rules that will make the entire inevitable catastrophe smells like roses until it all comes crashing down.

So, aside from all this, Europe is "fixed."

The only remaining question is: why leak this now? Perhaps it's simply because the reallocation of "cash on the savings account sidelines" in the aftermath of the Cyprus deposit confiscation, into risk assets was not foreceful enough? What better way to give it a much needed boost than to leak that everyone's cash savings are suddenly fair game in Europe's next great wealth redistribution strategy.

[American Patriot]

Following the American Model?

[Ryan Ruck]

California Liberals Want Your IRA–Automatically

January 20, 2016

Covered California has been such a success at driving up healthcare premiums and blowing through $1 billion in federal subsidies that the state legislature’s liberal Democrats are poised to launch “Secure Choice” in an effort to take over Californian’s individual retirement accounts (IRAs).

With little fanfare, Sacramento passed the “California Secure Choice Retirement Savings Program” in 2012 to provide an “Automatic IRA” deduction out of the paycheck of every California worker in a company with 5 or more employees.

With the State Treasurer and a nine-member board appointed by liberal Democrats as trustees, the plan promises to offer workers the type of low cost and sophisticated institutional management that the state uses to manage its own pensions.

But as Breitbart News has reported, the California Public Employees’ Retirement System, which manages state pensions, is embroiled in scandal for paying 20 percent hedge fund management fees. Moreover, its former CEO is in prison for bribery, and CalPERS recently admitted that the pension plan was only 52 percent funded–the worst of any state in the nation.

Despite all of this sordid drama, liberals claim that the State of California, as the world’s largest pension fund manager will enjoy access to better investment deals and will produce higher returns than individuals can find. The latest investment report by CalPERS for the year ending June 30, 2015, shows a return of only 2.4 percent. That performance was far below the CalPERS target return of 7.5 percent.

Secure Choice claims the “Automatic IRA” is not mandatory, because there is an opt-out clause. But poor employees that need money the most are probably not sophisticated enough to understand how to fill out the paperwork to opt out. Their employers will not want to give any instructions, for fear of being sued for giving investment advice.

Secure Choice will offer two investment choices. One plan option has no protection against investment losses; the other option will supposedly create a reserve from good annual performances to cushion losses in bad years.

Liberals are spinning Secure Choice as an opportunity for workers to have a more secure future. But that is the same argument liberals made for Covered California. With healthcare premiums spiking much faster than inflation and co-pays jumping, every Californian with insurance knows California’s Obamacare initiative has hurt workers.

What few taxpayers understand is that Covered California would have caused healthcare rates to spike even higher, except that the state in 2013 received $1.06 billion in federal dollars to subsidize the program’s administrative costs. But due to massive cost overruns, that money is already gone, and healthcare premiums are expected to spike even higher next year.

The question on taxpayers’ minds regarding Secure Choice should be: what happens if the stock market tanks or the state’s supposedly sophisticated money managers make investments that are big losers? Lawsuits will start flying, and then the liberal California legislature will undoubtedly want to bail out their liberal friends running Secure Choice.

After 2.5 years of spending money in planning, the Secure Choice board sent it investment proposal to the liberal-dominated California legislature last week. The “Automatic IRA” is plan is expected to get final approval at a March 23 meeting.