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Consumer Protection Bureau Eyeing U.S. Retirement Funds

February 8, 2013 by  

Consumer Protection Bureau Eyeing U.S. Retirement Funds
PHOTOS.COM

The U.S. Consumer Protection Bureau says it is worried that Americans, particularly those from the retiring baby boom generation, are too stupid and gullible to manage their own retirement savings and is exploring whether it has the “authority” to “manage” people’s retirement funds.

There is $19.4 trillion in the pension funds, 401(k)s and individual retirement accounts (IRAs) of Americans. The psychopaths in government have had their eyes on those funds for years. Confiscating that money and exchanging it for more government phony money would stave off collapse for a while longer. While the money is supposedly yours, government has so regulated it that you can’t really have it until you reach a magical age it established.

In reality, the legislation setting up IRAs and other retirement vehicles was designed to prop up a failing stock market and transfer wealth to the bankster mob. Now they want to break into your piggy bank.

“The Securities and Exchange Commission and the Department of Labor are the main regulators of U.S. retirement savings vehicles and funds. However, the consumer bureau — established by the 2010 Dodd-Frank Act — sees itself as a potential catalyst for promoting a coherent policy across the government, three anonymous people briefed on the discussions told Bloomberg.

If you haven’t already, it’s time to consider taking the penalty and removing your money from the hands of the bankster mob and buy real money: gold and silver. But don’t buy funds or promises of gold and silver. Buy the real thing and store it in your possession.

Bob Livingston

is an ultra-conservative American who has been writing a newsletter since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • http://www.facebook.com/bill.roe.750 Bill Roe

    These fascist thieves and thugs will do anything to steal from American workers and retirees. They can’t even manage their own house without going trillions into debt. Leave us the f*** alone!

    • Warrior

      And here I thought “pocahontas” corrected all the “ills” of evil banks and lenders preying on the “common man”. Hmmmm, bank fees down. Check. Credit card rates and penalties down. Check. Yep, all good here.

      BTW, I can tell you from first hand experience, the DOL doesn’t fool around. For reasons “beyond” my control, they have “confiscated” a “sizable” 401K account of mine and I have been unable to get it back under my “control” since last Sept. When and if this gets resolved, I’ll tell you the whole story. These creatures couldn’t give 2 sh$$ts about you and I.. Believe me, they DO want control of our money.

      • http://maddad1966@att.net Peter Wieckhorst

        They need two things for total control: 1. Disarm the people so they can’t fight back. 2. make the people TOTALY dependent on the Government. Best way to do that total control of all the money. Make it worthless or nearly that elsewhere so that the only way the people can get anything is from the government.

      • http://omanuel.wordpress.com/about omanuel

        Warrier,

        Wisdom and patience will be required to prevent prevent a temporary lapse in our inalienable rights – that we received from our Creator – to establish and/or abolish governments in order to secure Life, Liberty and the Pursuit of Happiness.

        http://omanuel.wordpress.com/about/#comment-2339

        With deep regrets,
        - Oliver K. Manuel
        Former NASA Principal
        Investigator for Apollo

      • Charlie

        omanuel,,,
        What is your method of tapping into this “Creator” Power ,you write of?

      • Warrior

        So tell me omanuel, is it true that rockets burn a hole in the ozone layer? Seriously, if true, does the layer repair itself? Is this possibly a reason why the U.S. space program is really shut down? What possible effects does this have on “climate change”?

      • http://omanuel.wordpress.com omanuel

        Warrior and Charlie

        Here’s a brief outline of the truth as I understand it from hundreds of measurements and observations since I started research in 1960 on the “Origin of the solar system and its elements” [1]:

        http://omanuel.wordpress.com/about/#comment-2339

        Every atom [2], every living cell, and every structure in the solar system is connected physically and spiritually to the Sun’s pulsar core [3] – a fountain of energy that:

        _ a.) Made our chemical elements
        _ b.) Birthed the solar system 5 Gyr ago
        _ c.) Sustained the origin and evolution of life from ~3.5 Gyr ago
        _ d.) Endowed mankind with creativity and inalienable rights to self-governance.

        These findings are consistent with science and religion – an experimental and experiential reality that can be realized by experimentation, measurements, observation, meditation, contemplation and prayer.

        For more information, scan About Oliver K. Manuel and the 64 years preceding Climategate http://omanuel.wordpress.com/about/

        References:

        1. O. Manuel, Origin of the Elements in the Solar System: Implications of Post 1957 Observations, (Kluwer Academic/Plenum Publishers, New York, NY, 2000).
        http://www.amazon.com/Origin-Elements-Solar-System-Implications/dp/0306465620

        2. Jere H. Jenkins et. al., “Additional experimental evidence for a solar influence on nuclear decay rates,” Astroparticle physics 37, 81-88 (2012)
        http://www.sciencedirect.com/science/article/pii/S0927650512001442

        3. Oliver K. Manuel, “Neutron repulsion”, The APEIRON Journal 19, 123-150 (2012): http://redshift.vif.com/JournalFiles/V19NO2pdf/V19N2MAN.pdf

      • Alex Frazier

        Good job omanuel. When I saw you give credentials in your first post, I cringed, knowing that the criticisms would be coming. But it looks like you shut them up right quick by citing published works. lol. That was very satisfying.

    • http://www.facebook.com/benjamin.fox.98892 Benjamin Fox

      Just what this world doesn’t need more commies like eddie teddy telling us what is ours is really thier’s, socialist nut jobs who are weak and lazy and think the government is their god, so living in a dark world and hates the light.

  • Linda

    Is the U.S. Consumer Protection Bureau basing their assumption that people who put obama back into office can’t be trusted with anything important?

    • Urnokid

      It’s not the people who have retirement accounts that put Obama back in office. It was the people that mooch off of the people that work and has worked to put that money into retirement accounts that put Obama back in office.

    • http://www.facebook.com/benjamin.fox.98892 Benjamin Fox

      The government couldn’t even run the bunny ranch in Nevada and they want to run our money? They are hitlerish and need to go.

    • lindsay

      yes, and have you all ever wondered what the heck the “Consumer Protection Bureau” does? Whose administration set this tax wasting govt. monster up? Oh wait, it was part of Dodd-Frank power trip. and Elizabeth Warren, that idiot who thinks she’s an American Native… OMG, this apathetic, celebrity-watching nation still doesn’t see their path of destruction and the rest of us “Paul & Paulette Reveres” will have to suffer along with them all. Sickening

  • Jim B

    It’s one threat after another. I’m so sick of this government crap I can hardly control my anger. When, when will this country wake up and kick these bums out of office and maybe out of this country. And they can take their 11 million undocumented citizens with them. I so sick of this sh t!

    • http://budheitman.wordpress.com tiredofcomprimise

      .
      Don’t hold your breath waiting for these bastards to be kicked out of office. Join the aTeaParty patriots, they are trying to replace ‘rats and RINOs with peoples representatives.
      .
      By the way that 1 million figure for illegal aliens is WRONG. That is the figure promoted by the owebomb administration to passify/deceive the public. I heard the other day that the figure is closer to 3 million illegal aliens to be added to our welfare and owebombeuphanasia program to benefit from the owebombs largess..
      .

      • http://budheitman.wordpress.com tiredofcomprimise

        . Correction: The correct number of Illegal aliens in the US covered by the owebombs proprosed amnesty is closer to 23 million than 11 million.

      • Warrior

        Correcto, Mundo! Compromise on what? The “problem” or the “solution”. Obviously, our so called “leaders” are not students of “engineering”! “OBVIOUSLY”!

    • Susie

      Jim,
      I share your concern. I want to stay informed also, and receive daily political emails sharing these stories, but it is almost too much. I get upset over these constant negative stories and then my 18 yr. old children and husband have to listen to me rant about it. Just tell me before the sky falls in so that I can move my money and.preserve it for my children, not the stupid government. The concerned citizens of America need to band together and rise up against our corrupt government. I personally wish there was a way to just stop paying taxes. I think that when the government’s money supply is cut off then they might listen to the people.

      • david

        Susie, I agree, I read this stuff and it ticks me off too. What this nation needs is a good ol’ revolutionary W–. We also need to stop paying tax– and drown our government. get a musk– and powd– because the crap is going to hit the fan soon….America still sleeps. God Bless are sleeping nation!

      • Alex Frazier

        For the record, Susie and david, it’s a federal crime to attempt to convince someone to stop paying taxes. So dream, but be careful how you put it when talking to someone else. Remember, Big Brother is watching and listening, by the authority of the Patriot Act, which nullified the fourth amendment without a Constitutional amendment.

        Gotta love this government of ours.

        But the solution is to stop paying taxes. That’s “the way.” But one person doing it will do nothing. Millions would have to choose to stop paying. And for millions to all decide to do it would require organizing such an effort. And you can’t organize such an effort without telling people not to pay their taxes. That, of course, is why it’s a federal crime. You can’t have a tax rebellion if the people are unable to organize it without going to prison.

        But every method of recourse guaranteed us in the Bill of Rights and the Constitution in general has been made illegal. We have the right to keep and bear arms for the primary purpose of keeping government in check. But it’s illegal to bring a gun into any government building, to have one outside of your home in Washington D.C., or to draw one on anyone in authority for any reason. If you beat up a cop and he shoots you, it’s justified. If a cop beats you up and you shoot him, you’re a murderer and a cop killer. You’ll be prosecuted without mercy. If the government robs you of your money through inflation (which is deliberate), it’s okay. It’s for the good of the nation. If you created one of those programs that stole fractions of a cent that were otherwise discarded, you’d be looking at twenty years. When the government sells weapons to known criminals, it’s okay. When a criminal possesses a weapon, it’s a federal crime.

        It goes on and on. They are the ruling elite, the aristocracy. What they are doing is no different from what governments have always done. And there has only ever been one solution that ever worked. People always preserve it as a last resort, but it has been proven to be the only resort that ever affects change.

        Revolution and/or Civil Disobedience, which is, of course, what you’re talking about. To stop paying taxes is an act of civil disobedience. It would work in the long run, but be prepared to see just how sharp the teeth of this monster really are. Civil disobedience is always met with violence by those in authority. Just look back at the civil rights era.

        Again, there has only ever been one solution. Unfortunately, it’s violence. Governments never listen until they are getting their heads chopped off.

  • Mikey

    We can turn it around, it will take effort on everyone’s part. If you ride motorcycles, you might be interested in a group that I’ve joined:
    http://www.SonsOfLibertyRiders.com

  • COTom

    The 2010 Dodd-Frank Act needs to be repealed. It is a gov program that is chock full of regulations, which under the guise of helping the citizenry, only benefits the government.

  • rendarsmith

    They are right about one thing. Many Americans are too stupid to wisely manage their own money, look at what happened with the housing crisis. People were refinancing their homes and buying ferarris (apparently they forgot that you still have to pay the money back). However, that’s no excuse for the government getting their hands on our money. The government has done an even worse job managing money than a 5 year old who discovered his dad’s credit card.

    • Vicki

      And they still have not passed a budget that I know of. ~4 years now?
      http://www.foxnews.com/politics/2013/01/08/budget-say/

      • MNIce

        The House of Representatives has passed a budget in each of the years the Republicans controlled it. The Democrat-controlled Senate refuse to even consider it. The Republicans in the House should just go ahead and appropriate money according to their budget, and tell the Senate and Mr. Obama that’s all they’re going to get, so sign on or get nothing. There’s a reason the origination power for appropriations was placed with the Representatives, and this situation is exactly why.

      • Vicki

        Yep. We know which party is really blocking the budgets. Democrat.

    • Rock Savage

      Do you think the government would do a better job than the “average” American? The U.S. Postal Service just announced it lost 1.8 billion dollars in the past three months….Social Security, Medicare, and Medicaid are losing money…. Amtrak loses around 400 million dollars a year….and on and on it goes…

      Anyone who believes the government can and will do a better job with other people’s money is either insane, ignorant, or has their head buried in the sand.

  • http://gekruckeberg.com gekruckeberg

    Deja vu. In 1965, Jphnson raped the Social Security trust fund and “invested” the funds in non-negotiable non-interest bearing gvernment bonds (IOUs). The Social Security fund is currently worth 2.2 trillion dollars — all in useless government paper. Over the past 50 years, the gpvernment has continued to embezle money from all the retirement funds entrusted to their care totalling today to $80 trillion in defunded liabilities! 80 trillion dofars over 50 years is a rate of theft of $50,735 PER SECOND!!

    gekruckeberg.com.

  • johno

    My daughter works for the railroad. She called the other day all excited because the gov’t. is going after the R.R. retirement fund. I told her to get used to the real world. The gov. has been doing that to the rest of us for years. If there’s a pot of money out there they won’t rest until they control it.

  • Randy131

    “…worried that Americans, particularly those from the retiring baby boom generation, are too stupid and gullible to manage their own retirement savings…” Hey, what’s wrong with that? We don’t want those who retire to spend all their money before they die, for then the government won’t get their cut. If the government can mete out their money to them, let’s say to keep them barely above the poverty level, then when they die there will be plenty for the government to take. That’s just smart planning by the government, because someone has to pay for Obama’s out-of-control spending, so why not the retired people? (I hope people can recognize and understand a ‘Sarcasm’ when they read it)

    • alpha-lemming

      Sadly no….. someone needs to create a sarcasm font.

    • ed

      reirees are no longer contributing taxable earnings. so why not take their money

      • Vicki

        Said like a true thief.

      • Rock Savage

        ed,

        Lets not stop with your suggestion to take their money. Why not force them to take a blue pill so they aren’t a leach sucking blood from the Social Security and Medicare systems. Hell, lets save a lot of money by forcing every person who is getting more than they’re contributing to take a blue pill. Surely that would solve all of our financial problems.

      • MNIce

        Rock Savage, you wouldn’t have stock in a mortuary chain or casket maker would you? It sounds like you’re trying to pump up a boom in the mortuary industry. Don’t bother, Obamacare will make the dividends roll in soon enough.

      • Vicki

        MNIce says to Rock Savage:
        “It sounds like you’re trying to pump up a boom in the mortuary industry.”

        It’s called sarcasm. Rock was being sarcastic.

  • Ben Gardner

    I had a gut feeling 10 years ago and transferred my 401(k) to an RSP (Canadian Equivalent) invested in the TSX (Canadian Stock Exchange) through TD (Canadian Trust – Toronto Dominion) bank where the U.S. Government can’t touch it. At that time, the Canadian dollar was worth $.85 U.S. Canada’s economy did not crash in 2008 like America’s and the Canadian dollar is now more valuable than the American to the point where I have made over 50% in dividends alone during that time. The U.S. Government is really going to be pissed when they try to come for my money.

    • Bill

      Good for you, Ben
      This is the future for all americans, to try and keep your money out of the hands of the greedy polititians who will piss it away to their own special interests.

      Asset protection now includes protection from the government. This has created a new cottage industry.

    • Guest

      Any advice how to do that now?
      Can it still be done?
      BTW what is an RSP?
      THANKS

      • Ben Gardner

        An RSP is their equivalent of an IRA. When I first did this, I got an instant 15% ROI. Today the Canadian dollar is worth more than the American dollar, so you would end up loosing money, where I gained instantly. The TSX as performed a bit better than the Dow Jones over the years, so that is a bonus. The unemployment figures just came out this morning and they are below 7%. Keep in mind that Canada is a manufacturing and exporting country…they make money in their businesses, except housing. The U.S. sent all their manufacturing to Asia and imports 80% of the goods consumed. Unfortunately, you have missed the prime opportunity to profit from the U.S. problems of leadership, but you could still probably still hold even and keep the democrats from claiming whatever you have.

  • http://budheitman.wordpress.com tiredofcomprimise

    .
    Now let me see if I understand this correctly. A bunch of dumas azels that have gotten this country so far into debt it is constantly on the edge of the “cliff” is trying to tell me that they know better how to handle the life savings of someone who instead of creating enormous debt has actually managed to squirrel a little of thier earnings away in anticipation of their old age.
    .
    Have I got that correct?
    .
    I think the real problem here is that the powers that be are infuriated that average joe or jane, using establishment rules, has managed to circumvent thier conficatory practices and established his/her own security. AND they are PISSED

  • enuf

    Just waiting for the first shot to be fired and the civil war will begin

    • http://midcontent ridge runner

      enuf,One of 3 things will light the rage for this to happen, the unelected paper pushing book trained regulators get too hard handed, because the mulim marxist is pushing for total control of everyone and everything. Or ending out the 100s of IRS agents to fine, arrest or just plain screw with any body they don’t like. Again the muslim marxist and his fkg facist/communist party try to confiscate all lawful citizens guns, and keep letting the black and latino gang bangers keep their stolen firearms of any type, because all are convicted felons. Of course these lawless pervs are one of voting blocks. I agree with you, but remember has said he could declare marshal law and fast track him to a dictoral marxist. Also another plan of this short tailed marxist will do is take away all oersonal oroperty and the rights of ownership, nationalize all businesses, and try to have everyone under government control,housing, medical care, food production, with his democraps, throw out and destroy the Constitution.Once the jug eared marxist thinks he can sign another 50 executive orders and everyone will bow down on the mandate prayer rugs, it woll get just like Grump Michele and Hag Hillary rolled in to one, and it will not pretty.

      • Vicki

        “Or ending out the 100s of IRS agents to fine, arrest or just plain screw with any body they don’t like.”

        Hmmm…. Where have I read something similar? Ah yes,
        “He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.”

        One of the reasons listed in the Declaration of Independence.
        http://www.archives.gov/exhibits/charters/declaration_transcript.html

      • Jeff

        There’s plenty of thuggery in local governments as well, for example, Mayor Bloomberg who thinks he’s King also.

  • rick

    in the end, all involved in our ILLEGAL gov’t, will HANG, but, stupid & gullible is right on the nose. if that was NOT a fact, someone would need to explain, why is a “lifelong communist, lifelong muslim, kenyan born indonesian citizen and undocumented illegal alien foreign exchange student, OUR POTUS”???? then, besides that, dude has NO RESUME for the job. oh yea, allow me to point out, that same illegal, is still POTUS, after 5 yrs of crimes against his oath and your constitution, IN YOUR FACE CRIMES!!! lucky for him, his propagandists deal directly with the stupid & gullible. civil war will make retirement worries, fade fairly fast. homeland security, lol, just got 12.5 million more rounds of ammo, ya think their gonna take over for our gutted military? like unnatural gay’s being the new natural, stupid and gullible is the new standard for the new american citizen.

  • http://midcontent ridge runner

    From Axelweed, to Onumnutts, and all the demorat Party for decades,they all have been facists, registered communist, and marxist, dictator loving pukes, can n’t call them slugs, because slugs move really slow, and the dems and the muslim are on a fire race, the race to destroy USA.

    • http://PLD john ware

      Onumbnuts! Made me crack up. I just might have to start using that moniker instead of Maobama and O-arewefuk’d-bama……

  • http://yahoo.com BillT

    I’ve heard of this happening in other countries, I believe one was Brazil, I don’t know about the other country(s). I’ve heard for a while now that the US Government wants to do the same. They say that we are just to stupid. I have a 401 that has, at the present, a rate of return of just over 9% since inception (just over 20 years). If I could have kept the money I paid into social security, I would have a hell of a lot more than I expect to get returned to me when I start collecting. I have just over a year before I turn 59 1/2. When the time comes, even though I’ll have a large tax bill, I’m taking my money. whether I put it under my matress, bury it in the back yard, or reinvest it in something the government can’t crontrol, I don’t know – but I do know if They try to take it – I won’t need it anymore since I’ll be rotting in prison.

    • Vicki

      Just remember to convert it from (fiat) paper to real “hard” money. Stores better than paper too.

  • Guest

    This has been my one over=riding fear for the last three years since I first read about this so-called Professor Ghilarducci who says we are TOO STUPID? to manage our own affairs.
    I have saved and slaved for years to build my nest egg and have also managed it very well, MYSELF thank you and am looking for ways to preserve this. IT IS MINE and MINE alone. In fact, without it I could NOT pay my rent! How dare they say they can do better!
    Half would go to more bureaucrats to handle this and what would we get back? A pittance.
    It is frightening as if we withdraw everything right now the rotten govt. would still win as they would get a tax windfall which I CANNOT AFFORD TO GIVE THEM. WHAT THEN?
    Where could i go to live when the rent cannot be paid.
    Of course, these ‘persons’ do not care at all as today we are no longer considered ‘persons’ but ‘units’ to be thrown around as they command.
    Never did I believe that in the US this could happen.
    A THIRD WORLD COUNTRY INDEED!
    CAN WE FIGHT USING THE EHCR—-Human Rights Act?

  • Terry Bateman

    Bob: Gold has been confiscated by the U.S. Federal government before, hasn’t it?
    IRA, 401-K money withdrawn with penalties could be confiscated anyway if
    exchanged for gold, the U.S. goes back to the gold standard and needs all the
    gold it can get. The only way to keep your retirement money for yourself is
    to spend it, buy U.S. debt, or buy bonds and stocks.

    • http://www.boblivingstonletter.com/ Bob Livingston

      Dear Terry Bateman,

      You write: “Gold has been confiscated by the U.S. Federal government before, hasn’t it?” Yes.

      You write: “IRA, 401-K money withdrawn with penalties could be confiscated anyway if exchanged for gold, the U.S. goes back to the gold standard and needs all the gold it can get.” First, I do not believe the government will try that again. The amount of privately-held gold stockpiled in the U.S. is valued too low (approx. $500 billion) when compared to the total U.S. money supply. That would not make a dent in the debt. Plus, I doubt citizens now owning gold will comply with such an order. Second, the threat that government can confiscate gold is the reason I recommend you keep it in your possession, hidden and secret. Third, that is also why I strongly recommend pre-1965 U.S. “junk” silver coins as part of diversification. Those coins remain legal tender and are in familiar sizes and face amounts for people to accept them. But their value is in their silver content.

      You write: “The only way to keep your retirement money for yourself is to spend it, buy U.S. debt, or buy bonds and stocks.” That is foolish advice.

      Best wishes,
      Bob

      • Vicki

        I read about that executive order. I am (now) amazed that anyone bothered to listen. Executive orders only have power over the people who work in the administration. If obama wrote an executive order saying for us to turn in “x” I know that he was not talking to me since I am not an employee of his administration.

        When I was younger I did think that executive orders had power over the people. It was silly but that is the nature of “public” education.

        However. The way executive orders (seem to) have power over the people is by ordering something done by the executive branch that Congress has passed a law about. All the “rules” by the EPA are one such example. Most any of the agencies will do for examples.

        One possible solution to this problem would be to have millions of us write to Congress and demand that THEY write the laws. That THEY stop delegating that task to executive branch underlings who make “rules”. We can do that by going to downsizeDC and this campaign
        https://secure.downsizedc.org/etp/write-the-laws/

        “Congress claims it needs experts to write the rules. We agree that they lack expertise. They can seek whatever advice they need. But Congress still has an obligation to . . .

        Write all the rules
        Read all the rules
        Debate all the rules
        And vote into law all of the rules that you are required to obey”

        Just look at the federal register sometime and imagine how much less damage could be done by Congress if they really had to debate each of those rules. :)

      • Rock Savage

        Bob, I realize this is your opinion. However, there are reliable sources that either support a “new” gold confiscation movement or are concerned that it will happen. Rod Paul, as well as the GATA, have made many inquiries and comments about the possibility of a “near-future” gold confiscation.

        Also, various federal governmental individuals (like Sean M. Thornton who is the chief counsel for the department’s Office of Foreign Assets Control) also support that position.

        Take a look at http://www.gata.org/node/5606 where the U.S. Treasury openly (and flagrantly) claim it has the right to seize not only a citizens’s gold and silver but any other valuables.

        For many reasons, my belief is similar to the few who believe our gold will be taken in the near future. And, my belief has been strengthened by Germany’s request to take back a large amount of their gold being stored in the USA.

        Just my 2 cents worth…

      • Ben Gardner

        One of the factors that makes the probability of gold confiscation is the fact that the United States has been the major repository of gold for the world for many years. In fact, the basement of the WTC was one area where the FED stored the metal deposited by several dozen countries. Several months ago, a half dozen countries began withdrawing their gold from the U.S. for storage in Germany and elsewhere. Guess who has been using the gold deposits as their private piggy bank…

        We no longer have the physical gold to cover the deposits if (when) there is a run on these gold accounts. The only place the government can recover any of the missing gold that was deposited by other countries is to confiscate it from the citizens.

        Guess who is holding the short end of the stick…

  • northbrook

    The american public would really be stupid to allow the government to manage their money in their IRA’s and 401K’s. Look at how well they did with social security. They raided the funds as soon as they felt they could justify it now Social security is looking at not being able to meet their obligation in th next decade. It is already being funded from the general funds. Tell your representative that you are smarter than the American government and you have your self interest driving you to do well. No to allowing the government take over of any retirement funds.

    • http://midcontent ridge runner

      Any thing and programs have always been snafus at best. This muslim marxist and his facist/communist demorats will do what every Their moron leaderbtells them to, no wonder unions are democrat shulbs,and dems and unions, both don’t like secret votes.

    • ibcamn

      When Obama say’s we need to invest,he really means,i’m taking your money and giving it to someone else,in what i think i(Obama) should invest in and where i(Obama)want to,and i(Obama)have vested interest in,and where i(Obama)have promised to give money back to those who gave me campaign donations,and i(Obama)want to invest in oil drilling in Brazil with my friends,that is what he is doing,he fancies himself a investor of great skill!..and he has(and will continue)grab land from Americans,with the help of EPA,and he has done so unmolested,under law,he can take your land if it’s needed for good ol uncle sam!and you can’t stop it!owning land now day’s is almost a joke,you pay for it,make it yours,pay your taxes yearly,insure it,build on it(taxes go up)just to pay more,if you sell it,you pay taxes on the money from sale,if you die and give it to your kids,they pay high taxes on it(the new death tax),it’s like a money making scam for uncle sam!it’s and illusion!

    • http://www.facebook.com/william.johnson.37201901 William Johnson

      Unfortunately, the US Government has already confiscated control of General Motors, Chrysler, All investment Banking, The Medical and Pharmaceutical industries, Student financing. Not a word about bad effects in our “mainstream ” media. Most people just shrugged their shoulders and said, “the gov’t couldn’t do a worse job than the evil CEOs”. Ford refused to play their game and look who’s on top of the recovery. Amazing, bad old capitalism and freedom kicks the gov’t control azz. I pulled my money from my IRA the same month it was mentioned as a gov’t takeover. By investing prudently, I have lost NO money and even made a small profit. And, they don’t have control over my investments yet.

  • Beatrice D. Pyle

    This President needs to be impeached, the sooner, the better. We should then get rid of all of the Communists in his administration.

    • david

      We need to throw them all in prison,

    • GDaly

      How is that going to be done? Seriously….seems no one is doing anything but complaining. How can we accomplish it if the Congress isn’t moving on it?

    • MNIce

      Biden for President In 2013!

  • http://midcontent ridge runner

    Anything, wheather precious metals, stocks, bonds, or anything government officals have their s–t hooks in can be nullified.Land is stll the best investment, you can grow your food, and have your shelter, if the mulim marxist and his democraps try and grab all private land or nationalize private businesses, I’ll bet on the average citizen to do some serious romping and stomping. A dime to the hole under the dog’s tailthe demorats will try this move inthe next few years. The present attitude of these facist/communists and the muslim marxist leading the brain dead voters, will sit on their thumbs, sucking on the other one, for orders.

  • Wumingren

    I’m turning 62 this month, and I’m going to retire early. Actually, I haven’t been employed for a while, because I’m “overqualified” (read: “too old”) for the jobs I’ve sought. I’m going to clean out my Roth IRA to prevent the socialists from nationalizing it. I will likely lose some of it in penalties, but 75% of my savings is better than 0%. Besides, I see that it is about time to go back overseas and live the life of the expatriate. I have no doubt that currency controls will be implemented, such that I would not be able to receive monthly retirement payments sent out of the U.S. to me.

    • Guest

      I am thinking of doing the same thing with my Roth, but there should not be any penalty.
      it IS supposed to be taxfree after all as we already paid all taxes before. BUT, after seeing what has happened to 401Ks with extra taxes added for his Ob ruincare no one knows what the o’s putrid spirit will come up with.
      The IRA is another kettle of fish. It would add a huge tax bill for me if removing all of it. Is an annuity the answer using part of it? i do not know? And, what about all the companies who actually are the holders? (Fidelity, Vanguard, Schwab etc) of these funds? Are they going to allow the O to steal what is also income for them? Managing our funds? They do not seem to have any answers for us either?

  • http://www.facebook.com/steven.evers.52 Steven Evers

    Our greedy government is out of money and is eyeballing any money grabs that they can find to help keep the ridiculous promises that have been made. I’d love to see some journalist do the math and calculate just how long it takes the combined government presses to print a billion dollars.

    I think the public would shocked to hear that the reality is that all the presses in the world couldn’t printed fast enough at the rate we are spending it. That’s why an electronic cashless society is inevitable.

  • Gary L

    The US government is not interested in protecting citizens’ money. They are only interested in collecting citizens’ money.

  • Harry Kaufman

    The consumer protection pain in the A** better worry about the baby boomers running their short pointless jobs and keep their nose out of baby boomers business were a hell of a lot smarter then morons that dream at their job, ill match my phd in economics over any ONE in the business… VINI VIDI VICI…

  • ibcamn

    Hello!,this is the exact reason Obama thinks we don’t have a spending problem,ha has said all along,we have the availability to cover these cost and the people didn’t understand what he meant!now you know!
    he’s been taking money from here and there right under our noses,putting laws and regulations in place right where they need to be for future use,Dodd-Frank act-so when the time is right,he can say,we will do it under the law!!a law they(progressives)put into place.the gold and silver investors saw this coming a long time ago!they have been promoting this(buy gold)for a long time now.
    Obama has taken money from military vets,from the military itself(under the disguise of cutting funds and joining bases together to save money)and he has taken 105 million(stolen)from one fund and just put it in the healthcare bill(which when it was found to be stolen,Obama simply said,”it’s not illegal,it a law now”and got away with it)he’s been putting his hand in the cookie jar the entire time he’s been in office,yet nothing,not a thing has been said or done,till now,because it’s your money for later in life.wake up or your gonna be too late to stop it(if your not already)he’s gonna pull all the stops out to get to this money,under his NWO,he believes it should be shared,and share he will,those of us who are retired(pension) or on social security and such,will get a big cut and those of you who are going to retire are in for the long haul in the work force,going to have to take at least a part time job!i think maybe Obama and his henchmen want us to work till you die or if you can’t work,they will assist you to pass away with dignity!(early even)only they know what’s up their sleeves!whatever it is,it ain’t good.

  • jt

    Bob, the CPB and its focus on these so-called protected funds is just the latest addition to the dizzying array of threats to American citizens posed by their own government. People have largely forgotten that this government was never intended to govern the people (their employers), but rather to govern the business of the state, within the limits of the U.S. Constitution. When those limits are ignored, the game changes. Given the USDOJ’s refusal to prosecute the main perpetrators of the financial collapse, we now have unprecedented clarity regarding the collusion of government and the uber-wealthy, despite the extreme disinterest of the msm.

    I would however, add one point regarding a diversified investment strategy: When investing in metals, do not overlook the value of steel, lead, copper, and brass. These can be had in various configurations and combinations which make them infinitely more valuable (in certain situations) than gold, silver or platinum. In fact, while possession of precious metals may indeed make one a target in “certain circumstances”, the possession of those other metals in proper configurations will have the opposite effect.

    Just my $2 ($.02 corrected for inflation)…

  • Guy Waukcinebar

    It is just incredible that the people who took a potentially good government program, Social Security, and raped and pillaged it until it is technically bankrupt, now think WE don’t know how to handle OUR money!

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