(Newswire.net — December 20, 2013) Portland, OR — Currently the plan is for the government to nationalize retirement accounts like IRAs, 401Ks, pensions, 403Bs, etc. in order to force you to use a portion of your retirement wealth to purchase U.S. government debt – debt that will ultimately default, as it is not possible to sustain our astronomical debt nor the deficits that create it.
US Bill “HB5337” is where you will find the plan to nationalize retirement wealth.
On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. This 401(k)/IRA de-privatization is the brainchild of Teresa Ghilarducci, whom through funding from the White House and the Ford & Rockefeller Foundations engineered a new “Regulatory & Tax Incentive.” The purpose is to force Americans to convert their Retirement Accounts into Government Managed accounts.
This plan to nationalize private 401K and IRA retirement accounts is being publicized as the government protecting the public against business failings or state bankruptcies.
However is nationalizing the retirement plans of American citizens and put them under control of the Federal Government really “protection”.
In February of 2012 The U.S. Senate, under the leadership of Democratic Senator Harry Reid, held hearings that resulted in the Conclusion that privately managed 401K’s and IRA accounts should be converted to Government managed accounts.
In fact the Obama Administration has included moves in the general direction of taking control of Americans Retirement plans in their 2013 budget proposal. They want to force us to use our retirement money to fund their irresponsible spending.
Your cash, your retirement funds, your bank deposits and your investments are at huge risk of being confiscated by the government through some contrived reason or another.
Sources:
http://www.bubblews.com/news/1301628-us-bill-hb5337quot-intended-to-give-federal-government-access-and-control-over-our-retirement-money
http://www.wholesaledirectmetals.com/index.php/gold-blog/590-the-governments-plan-to-confiscate-your-money/?cid=WNDdedicated