I received a document from Paychex today which is the administrator of one of my 401K accounts… and they informed me that they are going to move all cash in NON-government ‘Federated CASH Obligation’ money market accounts to ‘Federated Government Obligations‘…
We know that there is precedent for Mega-Bank “Bail-ins” (i.e. confiscation) of Depository Accounts (cf. Cyprus and Poland) and Super-priority payments to Mega-Banks, (cf. MFGlobal) in the event of another Financial Crisis.
And now we hear, in the SOTU no less, that Americans are invited to stash their wealth (such as they have left) in MYRAs, which presumably will hold Treasury Securities.
Securities which depreciate as inflation increases.
And Investors have to cope with other “incoming” as well including Real Inflation of about 9%, & Real Unemployment of 23%.
And also we have suppression of P.M. prices. But there is a strategy for Surmounting all this Incoming and Profiting. At best American Holders of MYRA are likely to Suffer loss from inflation, and at worse loss of principal.
But arguably the more serious Incoming Threat is the Ongoing Destruction of the Purchasing Power of the $US by the private for-profit US Fed’s policies.
In this interview with Finance & Liberty’s Elijah Johnson, Ranting Andy Hoffman discusses why gold would currently be trading at $20,000/oz in a real market, why gold manipulation will not be able to continue much longer, and states that President Obama is coming for your IRA!
Hoffman states that the world is starting to understand the reality of the physical and paper gold markets, and that the cartel will not be able to maintain the facade that gold (paper) is falling very much longer.
Ranting Andy’s full interview is below:
They will take our retirement accounts. They will take our 401k’s. They will say ‘you’ve all been having such hard times earning money in your 401k’s is we’re going to save you with 30 year gov’t bonds which are guaranteed at 3%, and you give us your retirement assets in return.’
In the 1930’s they took gold, this time I don’t think they will take bank accounts, but I would be very worried about having an IRA or a pension plan in the United States. -Jim Rogers
They will do what they think is necessary and they’ll use force, intimidation, and guns, because you can’t challenge the state’s so called right to control the money. They will confiscate retirement funds if they need to do it. Eventually if you have private fund, the people I know in Washington, they’re quite capable of saying, You’ve got to save the country, you can buy Treasury bills from now on! -Ron Paul
In the words of The Sovereign Man: This is happening.
Ron Paul & Jim Rogers’ MUST WATCH prophetic warning on Obama’s MyRA & gov’t confiscation of retirement funds is below:
In his latest interview, the Golden Jackass discusses the Obama administration’s move to force retirement assets into the MyRA ponzi fund of toxic US Treasury bonds.
Willie states that the MyRA will be a forced government IRA and will include toxic Fannie Mae mortgage bonds, and like SD’s AGXIIK, he states that private pension funds will be targeted next!
Harvey Organ joins the SD Weekly Metals & Markets Wrap this week to warn of a possible February COMEX Gold Default:
- Continued decline in “registered” gold inventory at the COMEX- 2o tons of gold “kilo bars” withdrawn from JPM vaults headed to Hong Kong!
- 2014 will mark the year where physical forces deep “managed retreat” in the least
- Geopolitical and Global Macro review: From MyRA & pension fund confiscation to Ukraine & Emerging Markets
- Fed Taper Review- Eric believes the Fed will overshoot tapering to $50 billion/month, while Harvey believes Wednesday’s taper will be the last
- Harvey discusses why February may very well see strains to the point of the long anticipated COMEX default in gold!
The SD Weekly Metals & Markets with Harvey Organ is below:
With last night’s announcement by President Obama of his new MyRA, the “No Risk, Guaranteed Return” Retirement Savings Bond Program, we thought it apropos to bring back AGXIIK’s November 2012 warning that President Obama had begun a push to confiscate Americans’ IRA’s & 401k’s, and force retirement assets into treasury bonds.
While many have scoffed, we have long warned at SD that Americans’ retirement plans are the last remaining bastions of wealth for the criminal banksters to pilfer, and that they will ultimately be confiscated via forced allocation into treasury investment vehicles.
With President Obama’s State of the Union speech on 1/28/2014, the process has officially begun.
As AGXIIK warned, Please realize that this is 100% about funding $1.5 TRILLION annual deficits using Americans’ retirement funds, as there is simply no other remaining pool of wealth able to soak up $1.5 Trillion in T-bills annually.
AGXIIK’s Full MUST READ 2012 Warning on Obama’s Plans to Confiscate 401k’s & IRA’s is below: