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Obama Begins Push to Confiscate IRAs & 401ks
Silver Doctors ^ | November 16, 2012 | The Doc

Posted on 11/16/2012 11:45:13 PM PST by rocksandbroncs

It may be time to take the tax hit and withdraw funds from private retirement accounts before they are forced into long term T-bonds.

The Obama administration is reportedly quickly moving on plans to nationalize private 401k and IRA retirement accounts, and replace them with government sponsored annuities(aka Treasury bonds that the Treasury currently can’t sell to anyone but the Fed).

National Seniors Council Director Robert Crone warns: “This whole issue is moving forward very quickly. Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.“

(Excerpt) Read more at silverdoctors.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 401k; confiscate; ira; nationalize; savings
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To: rocksandbroncs

Should have to take rifles out of our hands first here.


21 posted on 11/17/2012 1:02:51 AM PST by Freedom of Speech Wins
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To: fella

Executive orders are subject to judicial review and can be declared unconstitutional. The caveat being that someone has to bring suit in order for that review to occur.


22 posted on 11/17/2012 1:34:05 AM PST by A.A. Cunningham (Barry Soetoro is a Kenyan communist)
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To: rocksandbroncs

Reporter: “Why do you rob banks?”

Willie Sutton: “That’s where the money is.”

Attacking Savings in any of its forms seems a natural to this Administration. Gotta have more to spread around.


23 posted on 11/17/2012 2:07:17 AM PST by Makana
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To: greeneyes

Your words have iron in them.


24 posted on 11/17/2012 2:13:36 AM PST by onona (Don't mean nothin)
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To: CCGuy

but my initial response is this has to be fake or exaggerated.....They’ve been trotting this out since the ‘80’s. Was Jesse Jackson’s baby for years. I think you’d have heard a lot more of this if it is imminent.


25 posted on 11/17/2012 2:14:25 AM PST by Safetgiver ( Islam makes barbarism look genteel.)
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To: eclectic

Your 401K consists of a series of 1s and 0s on a computer backed up by your legal system.

After MF Global it’s evident that your legal system doesn’t give a damn about assets if they don’t belong to the right people.

Sell your 401K. Buy physical gold and silver and stand over them with a gun.


26 posted on 11/17/2012 2:28:46 AM PST by agere_contra ("Government creates nothing" - Romney, 2012)
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To: greeneyes
How is it fair for someone to work 16 hour days, and have the government take that money for politicians to give out to buy votes?

It isn't. I told a subcontractor to bill me more to cut profits. I'd rather it went there than to Obama.

27 posted on 11/17/2012 2:40:02 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: rocksandbroncs

REVENGE
28 posted on 11/17/2012 2:42:39 AM PST by LibWhacker
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To: Kickass Conservative
"In January 2015 when the Democrats retake control of the House, it won’t be a problem."

If we continue with Boehner's leadership, you are probably correct. Boehner is going to huff and puff over Fiscal Cliff negotiations and then fold and allow higher taxes. He will lose and throw away conservative support and then the Democrats will win.

29 posted on 11/17/2012 2:47:32 AM PST by Truth29
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To: rocksandbroncs
It seems anything in print can be posted here. The result is a lot of wasted time and energy
30 posted on 11/17/2012 3:02:52 AM PST by paul51 (11 September 2001 - Never forget)
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To: eclectic
More fearmongering from bullion peddlers?
Bingo!
31 posted on 11/17/2012 3:10:30 AM PST by MN Doc
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To: agere_contra
Sell your 401K. Buy physical gold and silver and stand over them with a gun.

Great advice! If one lives in a high tax state, cashing in the 401K is probably going to cost one close to 50% in taxes and penalties. That will require gold to double from current levels to break even on paper. If PM's drop by 50%, one will be out 75%..

32 posted on 11/17/2012 3:36:56 AM PST by EVO X
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To: Obama_Is_Sabotaging_America

If it were still America it would have to pass the House.


You are absolutely right! This is not the America I grew up in and the Constitution is now a “living Constitution” based upon any changes the Fabian socialists wish to make to advance their cause.


33 posted on 11/17/2012 3:51:14 AM PST by DH (Once the tainted finger of government touches anything the rot begins)
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To: rocksandbroncs

401k/IRA investments


The minute they came up with this idea I knew that some day the government would come back to “reap the harvest” just like they did when they raided Social Security.

I never fell for the bait and simply saved money in my own accounts.

All of you have to keep in mind......if a plan is even mentioned in government circles, no matter what.....IT WILL EVENTUALLY BECOME LAW.


34 posted on 11/17/2012 3:57:46 AM PST by DH (Once the tainted finger of government touches anything the rot begins)
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To: A.A. Cunningham

Executive orders are subject to judicial review and can be declared unconstitutional.


What a naive thought.

Have you looked at the “stacked” Supreme Court lately? Are these the judges you are speaking of?

What part of “the president has the power of kings” don’t you understand?


35 posted on 11/17/2012 4:03:28 AM PST by DH (Once the tainted finger of government touches anything the rot begins)
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To: CatOwner

The percentage of “the people” who have significant private retirement savings is relatively small. We are the Kulaks. The who plan of the Marxist-Alinskys is to isolate us middle-class savers and small business owners and destroy us.

“The People” who will rise up will not be a large enough number to stop this. All that “rising up” will accomplish is to identify the kulaks and counter-revolutionaries so that their heads can roll.


36 posted on 11/17/2012 4:04:33 AM PST by Houghton M.
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To: rocksandbroncs

It has been mentioned even before Bush was Prez - I still haven’t felt the need to liquidate my IRAs so I get a double benefit of having my cash and dining on government “cake”.


37 posted on 11/17/2012 4:04:42 AM PST by trebb (Allies no longer trust us. Enemies no longer fear us.)
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To: Houghton M.

the “whole plan” not “who plan”


38 posted on 11/17/2012 4:05:02 AM PST by Houghton M.
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To: EVO X

PMs will only drop when there is someplace BETTER to put the resource. There won’t be until Zero andhis minions are gone. He can rig elections but he can’t rig reality. Or “Money talks bullcrap walks”.


39 posted on 11/17/2012 4:05:52 AM PST by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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To: Nebr FAL owner

Exactly! Not confiscation. They are merely “guaranteeing” your retirement account. By making you put it all into T bills that the Fed buys...


40 posted on 11/17/2012 4:07:20 AM PST by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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