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Keep Both Eyes On Your Retirement Funds As Fiscal Cliff Nears

November 21, 2012 by  

Keep Both Eyes On Your Retirement Funds As Fiscal Cliff Nears

Americans hold about $17.9 trillion in retirement assets. These are found in the form of 401(k)s, individual retirement accounts and pension funds.

That money is not your own. If it were, you would be able to access it without penalty. But that is not the case. Taxes and onerous fees are tacked on if you take the money when you need it as opposed to when your “benevolent” government masters believe you should have it.

Congress established retirement programs like IRAs and 401(k)s in order to prop up the stock markets for the big banksters and make themselves look good. Americans have been fooled into equating a rising stock market with improving economic conditions. But when it’s propped up under false pretenses (by driving money into the market that would ordinarily be used elsewhere or through massive infusions of fiat currency via bailouts), it is like fool’s gold.

And now some are eyeing those funds as a big piggy bank to rob in order to pay off the “national debt.” Never mind that U.S. debt is a world-class delusion, as I have told you many times.

This actually began long ago. I first wrote about it here in 2009. That’s when Congressional Democrats were holding hearings to discuss the possibility that those funds could be confiscated and placed into universal guaranteed retirement accounts managed by the Social Security Administration. Their belief is that if the money is put into Treasuries, it would undo much of the money-printing damage done by the Alan Greenspan/Ben Bernanke Feds.

More hearings on this subject were held in 2010. They were presided over by J. Mark Iwry, senior adviser to the Secretary of the Treasury and deputy assistant secretary for retirement and health policy. Irwy believes 401(k)s and IRAs are unfair because they benefit the rich. But the plan to “nationalize” retirement plans was put on hold following the 2010 election. Unions are big advocates of a nationalized retirement system.

Now the topic is back on the table. As Congress searches for creative ways to feed the ever-growing Federal leviathan, that $17.9 trillion becomes an enticing option. America’s national debt stands at $16.3 trillion. The fiscal cliff, comprised of a huge year-end tax increase and $110 billion in cuts to Federal spending, is dead ahead; and the 1 percent (the sociopaths in government) is looking for ways to avoid the cliff that don’t involve making significant cuts to Federal spending.

There is precedence for government confiscating the retirement funds of its citizens, so keep your eye on upcoming Congressional negotiations. A $17.9 trillion piggy bank plus $16.3 trillion debt equals a marriage that could be consummated in hell — or Congress, which is almost the same thing.

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 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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  • akathesob

    Oh great news…

    • KG

      401K’s are a bunch of horse hockey. If the company you are investing with has a financial difficulty, they can ALREADY confiscate those funds for the preservation of their business. What people should have done is join a Union, and put your retirement funds into a traditional Pension with the Union. That way, your retirement funds would be guaranteed by the Government. That’s what I did. And on top of that, my Union offered an Annuity as well that was totally financed by the Contractors. AND i have a pension with the International Union, so when i turn 65, i’ll get an extra $300 to $400 dollars a month.

      All that, just for paying my Union dues and working my butt off.

      Ain’t America a great country?

      Oh, I’m sorry. All you people believe Regan and became “entremanuers”. You would like to retire, but too bad.

      • fedup

        …as long as your union management doesn’t steal it and donate it to the next democrat who needs $1B to run for office. Being backed by a government that is broke is not necessarily a good thing. Eventually they (the government and the unions) will run out of other people’s money!

      • Elton

        I too was once in a union, but you have to grow up sometime and be dependent only on your own self effort, instead of relying on some one else to be your nanny.

      • hpw3506

        KG is a either a socialist, communist, drank the kool aide or is like most union people who are lazy and depend on someone else to think for themselves.

      • KG

        If the Government goes out of business, aint no one gonna have a retirement.

        Like what Einstein said “I don’t know the weapons that will be used for world war three, but world war four will be fought with sticks and stones.”

      • Paul B.

        So am I reading you right… if the Union goes broke, and spends your pension, the taxpayers have to foot the bill for the deficit? How can that be? Why would the Feds guarantee private pensions? If they do, then there MUST be controls over the funding and spending of those pensions funds? Yes!?!?!

        I know the unions are already screwing their members with healthcare and are looking to push that burden onto the taxpayers by shifting Union healthcare to government healthcare… one big reason they have always supported Democrats.

        WHAT A SCAM!!!! Unions are corrupt, tied to DC Democrats, and get special treatment that other private companies don’t get. How did we get to this point?

        This is really bad for “the rest of us” who don’t have political connections and have bought our way into the DC bankroll. Anything we can do to change any of this?

      • KG

        Get you head out of the 50′s. The Unions invest their funds in everything that everybody else invests in – Stocks, Bonds, Real Estate. So the funds fluctuate just like everyone else. The difference is that since Roosevelt, it was assumed that most workers would join a union. So the Department of Labor was organized around the assumption that most workers would be Union members. However, Regan was the one who turned all of that around.

        Our Healthcare costs rose 25% in 2005, in less than a year. Then we were hit with another 25% increase. So, the impetus for a national healthcare program was really pushed forward. You cannot exist when costs are rising 25% a year.

        Why do we support Democrats? Because most of the Republicans left us in the 80′s. They were the ‘freemarketers’ and the “globalist” who scoured the earth for profits at the cost of American jobs. Just listen to “My Hometown” by Bruce Springsteen and you will understand.

        Don’t say “you guys make too much.” You aught to say ‘I don’t make enough.”
        Go down and join the Brotherhood.

      • Capitalist at Birth

        Just out of curiosity, what level of education did you achieve. I learned in the first grade that Government or Union control of your assets is more dangerous than private control.. The companies I worked for had no control over the funds in my account. What have you been smoking?

      • Buster the Anatolian

        “The companies I worked for had no control over the funds in my account.”

        You got that right Capitalist, The companies I have worked for had NO cpontrol over my 401 either and in fact the traditional retirement was set up in such a way they had no control over their contributions to it once they were made.

        ” What have you been smoking?”

        Don’t know what he has been smoking but it has turned him into a parrot of eddie.

      • DaveR

        Your comment does not match my father’s experience. He paid into the Teamster’s retirement program for over 20 years and got zero at retirement!

        I worked for two multi-national corporations [the first of British origin, the second of USA origin and no longer in existence due to merger into another USA corporation], each of which offered a 401(k) program in which I participated. After retirement a few years ago, I converted those 401(k) plans into an IRA, and so far, other than the destruction of the value of the US dollar itself being orchestrated by our federal government together with the Federal Reserve, those 401(k) retirement savings plans have enabled me to enjoy my retirement.

      • TIME

        Dear KG,

        Wow ~ you really are a math wiz…..

        The FDIC, insurance you speak of, I am just so glad you think its so special, here’s how it work’s,

        A Fund of say $17 Trillon dollars based on a single deposit ~ is coverd by the wild and crazy amount of insurance coverage of ~~ {{ Now wait,}} ~~ this answer is going to be a tad hard to handle even for the mindless sheep out on the land,

        But that special pay out ~ if the $17 Trillion dollars is lost ~~~ is just $100,000.00 yes indeed ~~ as its noted as just one single fund ~~~ not a { per unit fund } of the mass’s of people in the noted fund.

        Well I sure hope you enjoy your .0000000000000000000000000000000000000000000000000000000000000000000000000000000000000001 – percent pay out,
        But hey ~ now don’t you go and spend it all in one place.

        Peace and Love even to the mindless sheep who are still eating cow pies.

      • Tom

        You’re kidding right? Join a union? Put my money in the hands of Obama loving union leaders? This is crazier than the fed stealing my money. Unions are interested in only one thing. Unions, and their preservation. Most union members have been brainwashed for years, and don’t see how their union dues (and the companies portion of the money grabbing) are just keeping union leaders in high cotton while members are getting screwed on a daily basis. Unions are in as much, if not more, trouble than the states when it comes to funding for promised retirement benefits. Too many promises, too little money. Nope, I’d NEVER again be a member of a labor union. EVER.

      • DaveH

        Oh sure, let’s take our investment advice from self-interested Unionists who have no moral qualms about coercing Companies, their customers, and their replacement workers, so they can extort a higher than market price for their labor. Never mind that the rest of us pay higher prices for those products and services so the Unionists can get what they want. And never mind that the Union Leaders put much of their money into payoffs for the Politicians of their choice to screw the rest of us with Expensive Economy Dwindling hurdles (regulations) and taxes.
        What KG can’t process with his Nit Wit is that if everybody joined a Union there would no longer be a pay advantage because Union Wages are a zero-sum game. For every winner (union worker) the rest of us must lose an equivalent amount of wages or purchasing power. Economics 101. There is no Free Lunch.

      • Carol J

        My 401 was not started by any business. I started it with my money at Charles Schwab. When advised, I converted it to a Roth IRA. No business ever put any money into it. It’s alive and well.

      • wheels

        Just pray to GOD that your union big wigs don’t decide they need to retire to the Caymans with the entire fund like mine did! And pretty much the help from the government boiled down to, “Sorry, but go suck eggs.” So quit drinking the union kool-aide and stand on YOUR OWN two feet and become a real man.

      • http://Personallibertydigest Roland

        Ya dummy. I retired from the teamsters, & they cut my pension the last 4 yrs., so they could pi_ _ it away to the dumb-o-rats! You’ll be lucky if you have a retirement left when you retire. Save now, cause you’ll need it, if it’ll be worth anything. Wake up you union minions!

      • Mikey

        Dave H is absolutely right.
        The unions have their minions well deceived and programmed. Meanwhile those of us middle class, work-our-ass-off-for-what-little-we-have, tax-burdened, private company workers get lumped into the same category as the “rich” and get robbed again and again by the liberal liars.

        Screw that, I’ll pull my 401K and pay the penalties if necessary. This corrupt, parasite-feeding government won’t get my retirement money, I worked too damn hard for it!

      • Right Brain Thinker

        I am forced to abandon my “ignore DAveH the attention seeker” policy briefly to point something out. Dave says:

        “What KG can’t process with his Nit Wit is that if everybody joined a Union there would no longer be a pay advantage because Union Wages are a zero-sum game. For every winner (union worker) the rest of us must lose an equivalent amount of wages or purchasing power. Economics 101. There is no Free Lunch”.

        Sounds better than Dave’s usual horsepucky but is not true by a long shot If everyone joined a union, they could fight for better wages and benefits and see their incomes rise rather than decline as they are doing today. The era referred to as the “Golden Age of the Middle Class” did see a higher level of shared prosperity than today and there is a direct correlation between that fact and the fact that union membership was three times higher then than it is today. There is a well-documented correlation between union membership and income inequality—almost like a see-saw—one goes up, the other goes down. Dave is right in saying that there is no Free Lunch and that there is only so much “money” out there to be shared but that oversimplifies.

        What we have right now is a system dominated by the plutocracy and the corporations. A system that directs an ever increasing proportion of the wealth created BY THE WORKERS into the pockets of the corporate shareholders and executives and the vaults of the greedy rich. The only way ALL OF THE 99% (not just union workers) will again prosper is to restore fairness to our tax system by taking the steps needed to reduce income inequality and reward those who really produce the wealth. ( and Grover won’t like it)

      • Gordon in Texas

        Have a Twinkie, KG. Oh, that’s right. The union forced the company to close. The parasite killed the host. Dumb parasite.

    • TeaParty Patriot (TPP)

      http://www.wnd.com/2012/11/how-obama-can-be-stopped-in-electoral-college/

      How Obama can be stopped in Electoral College

      Just like the “rats did in Wisconsin and the “rats did in Texas when they left the state to deny the RINOs a state quorum. DENY the electoral college a quorum by refusing to show up at the college . . . Read more

      Exclusive: Judson Phillips offers constitutional means to put Romney in office Jan. 21
      Published: 16 hours ago

      by Judson PhillipsEmail | Archive
      Judson Phillips is the founder of Tea Party Nation. Follow him on Twitter at @judsonphillips or @teapartynation.

      We have one last, final chance to save America. We have one last, final chance to stop Barack Obama. One final chance.
      What is this final chance? Will the Republicans step up to the plate and do what is necessary?

      Barack Obama has not yet been re-elected president.
      Yes, the election is over – but remember, a presidential election in America is not by popular vote. We vote for the candidate, but what we are really doing is voting for the electors who will meet on the Monday after the second Wednesday in December.
      That is when the actual re-election of the president occurs.
      Is there a way to stop this?
      Yes, there is.
      And the best part – this is totally constitutional.
      The 12th Amendment of the Constitution as well as Article II of the Constitution govern the Electoral College.
      According to the 12th Amendment, for the Electoral College to be able to select the president, it must have a quorum of two-thirds of the states voting. If enough states refuse to participate, the Electoral College will not have a quorum. If the Electoral College does not have a quorum or otherwise cannot vote or decide, then the responsibility for selecting the president and vice president devolves to the Congress.
      The House of Representatives selects the president and the Senate selects the vice president.
      Since the Republicans hold a majority in the House, presumably they would vote for Mitt Romney, and the Democrats in the Senate would vote for Joe Biden for vice president.
      Can this work?
      Sure it can.
      Democrats have actually set this precedent of refusing to participate to deny Republicans a quorum. They did this in Wisconsin and in Texas. Why can’t we do this with the Electoral College?
      Mitt Romney was a terrible candidate, and he will not be a great president. But he will be infinitely better than Barack Obama.
      So how do we do this?
      Mitt Romney carried 24 states. We need to have conservative activists from all over the nation contact the electors, the Republican Party and the secretary of state in all of these states and tell them not to participate in the Electoral College when it meets on Dec. 17.
      If we can get 17 of those states (just over one-third) to refuse to participate, the Electoral College will have no quorum. Then, as the Constitution directs, the election goes to the House of Representatives.
      That is how we can still pull this election out and make Mitt Romney president in January.
      We need this concept shared with every tea party, liberty and patriotic group throughout the country. We have time to act, but we must pressure Republicans to do the right thing.
      It does not matter who gets credit for this. The credit is not important. Using our last chance to defeat Barack Obama is important.
      Far too often the Republican Party seems more interested in losing gracefully than winning and governing.
      This is our last chance. We the people must contact the electors, party officials and secretaries of state from every red state and insist that they refuse to participate in the Electoral College.
      We can still save America and use the Constitution to do it. But this truly is our last chance.

      • Marty S.

        Patriot

        You are onto something here. Bob Livingston what are your thoughts on this?

      • Right Brain Thinker

        TPP,
        Why do you keep posting this comment on every thread? Don’t you remember Einstein’s definition of insanity? To paraphrase a bit—-”Repeating the same insanity over and over again doesn’t make it any less insane”.

        And what does Bob L think? He may come back with a “RBT doesn’t speak for me”, but I will presume to do so and say: “He likes it”—insane posts keeps the visit count up too—-keeps that $$$ rolling in so he can squirrel it away in the vault (gold and silver coins only, of course).

        Of course, the fact that TPP has probably visited every site in the universe to post this means that everyone’s “hits” have gone up in lockstep. PLD has quite a few threads going, so maybe Bob will come out ahead. Bob, would you care to give us the details of how this all works? How one makes $$$ with websites?

  • scared

    This has already been done in countries like Argentina and I believe some european countries as well. What to do?

    • TIME

      Dear Scared,

      Now go and ask the folks from Europe about their alledged Gold thats being held for them from their accounts.
      Oddly it seems that the special folks from the ~ IMF ~ refuse to show them their gold.
      Thus ~ One is left asking why is that again?

      Peace and Love

  • Boyd Retra

    Can one still take out a certain amount from the IRA at the end of this year 2012 to pay taxes and HOA dues for example- without being taxed for the withdrawal?

    • NativeBlood

      The IRS has very strict rules when it comes to drawing a distribution from an IRA account. A lot will depend on your age and who your account is managed through. You will have to check with them for information on how to obtain funds through tehm as each case would be unique. Had you mentioned a 401k, then you could possibly get a loan through your investment company and your fund manager. Even then strict rules do apply. Good luck and I am so sorry that your situation is so dire that you need to draw from your retirement to pay taxes. Many regards,
      Allen

      • Capitalist at Birth

        10 % up front penalty, and then you must show the total amount as income. It may be worth it to take some of it this year.

    • kathy c

      Payments into IRAs were sheltered from taxes. Same for emplorer matched portions and interest. When you start collecting the money, you pay tax on it. So, if you sheltered it at a 28% income rate and draw it out at a 40% rate, you lose.

    • ChuckS

      I think you can take a regular payout. Something like if you’re expected to live 30 years, you can take out 1/30 each year. Check IRS pub 8606 and/or 590 and/or other pubs at http://www.irs.gov

  • http://www.cindynel.co.za peter

    Money is the root of ALL evil! I cannot but believe that in the old end mankind has consumed himself to death and outwitted himself in the process. Sticks and stones here we come and never mind the rich, their money won’t matter anymore. We are headed for very interesting times ahead. Make sure the gun is oiled and you know how to survive, without fancy cars, jewellery, jacuzzis etc. That excludes the rich – they won’t manage anyway.

    • Opal the Gem

      peter……………it is “The love of money is the root of all evil”.

  • Bob

    “The love of money ” is the root of all evil…not the money itself.

  • Larry

    You said “the 1 percent (the sociopaths in government)”. Were you just making a joke or do you actually realize how accurate that statement really is?

    At least 4% of the population (1 in every 25 people) is a sociopath. (The Sociopath Next Door, by Martha Stout Ph.D.)

    A sociopath is a person without a conscience, and feels no guilt or remorse for what he/she has done, although they learn at an early age that it is to their advantage to pretend to have a conscience in order to fit in with 96% of the population. It is not a treatable condition, and if it was the typical sociopath would not want to be cured. They tend to be quite happy with their “problem” and consider the rest of us handicapped compared to them in reaching our goals.

    Sociopaths tend to gravitate to certain fields that fit their individual personalities and desires. Some of the occupations they tend to go into:

    Power & wealth = Politics
    Just wealth = Finance, Banking, Lawyer
    Bully = Law Enforcement, Teacher, Criminal
    Ambitionless = a sponge/parasite on their family/country

    When you realize just how few political jobs there are compared to the population, it’s easy to understand how the vast majority of politiicians could actually be sociopaths, and it’s also much easier to understand why they continue to do some of the things they do.

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

      Dear Larry,

      You write: “Were you just making a joke or do you actually realize how accurate that statement really is?” What I write, I write on purpose. Look for more on sociopaths in Monday’s column.

      Best wishes,
      Bob

      • Right Brain Thinker

        Bob says:

        “Dear Larry, You write: “Were you just making a joke or do you actually realize how accurate that statement really is?” What I write, I write on purpose. Look for more on sociopaths in Monday’s column”.

        This is going to be fun. Bob, is this article going to be saying anything more significant than the “Statist Thugs” article? Is the prose going to be as purple? I may camp out in front of my computer tonight so that I can be one of the first in line to read it.

        And are you saying “the 1%” because you believe that there are only 1/4 the number of sociopaths in government than the cited book says would be typical? Sounds like our “government” is way above average if that’s true.

      • Right Brain Thinker

        Bob,

        I’ve looked around a bit on the web and have found that that there’s really not much going on with regard to universal guaranteed retirement accounts (not that there ever was). Certainly no laws are being contemplated at present (and weren’t back then).

        The Democrats did nothing but hold some hearings way back when. They did nothing when they had control between 2008 and 2010 except hold a hearing or two, and could have brought forth legislation if they were serious about it. They didn’t. And using Hungary as an example of a precedent is quite a huge bit of overreach. And there doesn’t seem to be any logical connection to the fiscal cliff (that you tie UGRA to in the title of the article, no less). Why do you bring UGRA up now without making any such connection?

        So, I have this tingle in my crap detectors (I’ve got good ones, honed in 20+ years of school administration). As a right brain thinker who is good at looking at things from all angles and seeing patterns (as RBT’s tend to do), I said VIOLA! when I saw what “tune” you were playing. So, let me ask:

        Would it be unfair of me to suggest that this whole loosely stitched together article is designed to stir up the paranoia of the masses so that they will buy gold, buy survival kits, subscribe to newsletters—all things that are touted on your site? Is it intended keep the paranoid coming back to PLD for “truth” and upping your “hits” numbers? Designed to accomplish all those things that lead back to more $$$ flowing into your vaults where you can swim in them? (and gold and silver coins only, of course)

        Would it be unfair of me to suggest that you are fear-mongering and seeking power and wealth with this article? Is that being a bit of a sociopath? Are you one of the 4%, Bob.

        Best wishes,
        Right Brain Thinker

    • DaveR

      Have you just described Obama? Consider the personal stories of the family members who met Obama at the return to USA of the bodies of those killed in the Bengazhi attacks. No real emotion or empathy was displayed by Obama.

    • Right Brain Thinker

      Yes, that’s a great book, Larry. A good read. Many who visit PLD should read it to increase their level of self-awareness (at least for that brief period before they throw the book in the fire because it’s “not talking about them”)

      I do think you both overreach and misinform a bit when you state “When you realize just how few political jobs there are compared to the population, it’s easy to understand how the vast majority of politicians could actually be sociopaths”. I speak mainly of the use of VAST (overeach) and the fact that you didn’t put CONSERVATIVE in front of politicians (misinform, as in leaving out a crucial adjective)..

  • Shorty

    I will bet that the next target in their sights is any idle savings you have will be taxed just for sitting their and not being spent. Imagine if you have $10,000 sitting in a savings account, and they come and tax you 10% each year just for having it. They have already proposed a “financial transaction tax”, which would implement a tax on every financial transaction, such as writing a check, depositing money into an account, moving money from one account to another, etc. Luckily this proposal died, but it will probably reappear in the next couple of years.

  • TeaParty Patriot (TPP)

    http://www.wnd.com/2012/11/how-obama-can-be-stopped-in-electoral-college/

    How Obama can be stopped in Electoral College

    Just like the “rats did in Wisconsin and the “rats did in Texas when they left the state to deny the RINOs a state quorum. DENY the electoral college a quorum by refusing to show up at the college . . . Read more

    Exclusive: Judson Phillips offers constitutional means to put Romney in office Jan. 21
    Published: 16 hours ago

    by Judson PhillipsEmail | Archive
    Judson Phillips is the founder of Tea Party Nation. Follow him on Twitter at @judsonphillips or @teapartynation.

    We have one last, final chance to save America. We have one last, final chance to stop Barack Obama. One final chance.
    What is this final chance? Will the Republicans step up to the plate and do what is necessary?

    Barack Obama has not yet been re-elected president.
    Yes, the election is over – but remember, a presidential election in America is not by popular vote. We vote for the candidate, but what we are really doing is voting for the electors who will meet on the Monday after the second Wednesday in December.
    That is when the actual re-election of the president occurs.
    Is there a way to stop this?
    Yes, there is.
    And the best part – this is totally constitutional.
    The 12th Amendment of the Constitution as well as Article II of the Constitution govern the Electoral College.
    According to the 12th Amendment, for the Electoral College to be able to select the president, it must have a quorum of two-thirds of the states voting. If enough states refuse to participate, the Electoral College will not have a quorum. If the Electoral College does not have a quorum or otherwise cannot vote or decide, then the responsibility for selecting the president and vice president devolves to the Congress.
    The House of Representatives selects the president and the Senate selects the vice president.
    Since the Republicans hold a majority in the House, presumably they would vote for Mitt Romney, and the Democrats in the Senate would vote for Joe Biden for vice president.
    Can this work?
    Sure it can.
    Democrats have actually set this precedent of refusing to participate to deny Republicans a quorum. They did this in Wisconsin and in Texas. Why can’t we do this with the Electoral College?
    Mitt Romney was a terrible candidate, and he will not be a great president. But he will be infinitely better than Barack Obama.
    So how do we do this?
    Mitt Romney carried 24 states. We need to have conservative activists from all over the nation contact the electors, the Republican Party and the secretary of state in all of these states and tell them not to participate in the Electoral College when it meets on Dec. 17.
    If we can get 17 of those states (just over one-third) to refuse to participate, the Electoral College will have no quorum. Then, as the Constitution directs, the election goes to the House of Representatives.
    That is how we can still pull this election out and make Mitt Romney president in January.
    We need this concept shared with every tea party, liberty and patriotic group throughout the country. We have time to act, but we must pressure Republicans to do the right thing.
    It does not matter who gets credit for this. The credit is not important. Using our last chance to defeat Barack Obama is important.
    Far too often the Republican Party seems more interested in losing gracefully than winning and governing.
    This is our last chance. We the people must contact the electors, party officials and secretaries of state from every red state and insist that they refuse to participate in the Electoral College.
    We can still save America and use the Constitution to do it. But this truly is our last chance.

    • http://google David

      I’m in !!!

    • Right Brain Thinker

      Why are we reading this for a second time?

  • http://google David

    Buy and take possession of gold before U.S . creditors decline worthless dollars. This is the only way to survive Madman-Obama.

  • sean murry

    if any of you goverment thugs try to take my retirement fund i will break your arm.

    • Mikey

      Sean, I agree with you, but how do you propose to do that? The government just takes you friggin money from the bank or investment firm, then tells you about it after. There are no “arms” to break. And, if you scream too loud, they lock you up.
      If this crap gets any traction, I’m closing my 401K and paying the penalties. It’s better than loosing it all to the corrupt parasite-feeding government.

  • Dee

    Our retirement funds belong to US, NOT the government. If they start taking our money, this is STEALING.

  • Cynthia

    Dee-
    do you really believe that our government is opposed to stealing? you are assuming that they share your moral values. The government believes that THEY define what moral values are. They steal from us every day, so moving on to retirement accounts would not appear on THEIR radars, but we need to raise a clamor. Most of us have been paying into these accounts for years, & it is OUR money, & we need to make sure that the gov’t understands that raiding personal accounts is NOT OK.

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