AGXIIK: Federal Takeover of Retirement Plans is Coming!

gold MSM MopeI’m going to clear the air on this matter.  For over 2 years I’ve been writing about the impending federal takeovers of pension plans.
10 countries in the Europe and South America have engaged in pension theft, conversion or expropriation to fund government operations. 
It is quite likely that we will see more of this theft in 2014, and before the financial crisis is over, probably from the TSP.
The brokerages will be completely compliant with these actions just like the Bail-in provisions signed by the FDIC, FED Bank of Canada and BOE, as was reported here on Silver Doctors in 2013.
Like Detroit with its complete expropriation of the $11,000,000,000 in pension plan funds, the Feds will use the $1.6 trillion in the TSP as they see fit.  They are patterning this on Poland and the NDRP.  Poland recently confiscated 28 billion in Euros to reduce their country debt to 56%  of the GDP.
The government simply took the funds from the private and government pension plans WITHOUT ANY COMPENSATION. 
Surely that could never happen here!

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By SD Contributor AGXIIK:

The TSP with an asset base of about $1.6 trillion was about 25% invested in US bonds and notes.  During the sequester the Treasury raided the fund for another $300,000,000,000.  Those funds, along with some funds from the GNMA and other government honey pots, were raided to the tune of about $350,000,000,000 to pay the bills until the sequester was resolved.  The US debt went up nearly $1 trillion within 3 months.  $350 billion was taken to replace the TSP and other funds used during the sequester.

I’ve been yapping for 18 months about this, noted in prior AGXIIK posts.  I previously wrote several articles about the Ghillarduci nuclear option which was passed by the Pelosi House and then approved by the Senate.  That bill provides for the option to expropriate private pensions, worth on the order of $19 trillion, should the government deem it necessary to take these pensions funds and ‘invest’ the funds into the GRA, aka Guaranteed Retirement Annuities. These accounts remove the funds from the normal brokerage accounts that hold our pension plans, whether company or individual.

The brokerages are completely compliant with these actions just like the Bail-in provisions signed by the FDIC, FED Bank of Canada and BOE, as was reported here on Silver Doctors in 2013.

These GRA accounts might pay a very modest 2-3% and are no longer your money. They will pay you an annuity that would probably be less than the funds you’d received from Social Security.  Upon your death half these funds would escheat to the government, expropriated by the government.  The other half would be given to your heirs minus the estate or inheritance taxes.

The TSP is now being used to fund the federal deficit, sequesters, debt cliffs and most likely the $4-5 trillion in roll over debt the US Treasury expects this year.
The TSP is being raided systematically and methodically because these are government funded pensions.  This is a test of the willingness of the pensioners and retirees as to whether they will ‘go to war’ over this.

Like Detroit with its complete expropriation of the $11,000,000,000 in pension plan funds, the Feds will use this $1.6 trillion as they see fit.  They are patterning this on Poland and the NDRP.  Poland recently confiscated 28 billion in Euros to reduce their country debt to 56%  of the GDP.  This debt to GDP level was mandated by their Constitution.  Thus the government took the funds from the private and government pension plans WITHOUT ANY COMPENSATION.   AND…. IT’S GONE!!!

10 countries in the Europe and South America have engaged in pension theft, conversion or expropriation to fund government operations.  It is quite likely that we will see more of this theft in 2014 and probably taken from the TSP. Once those funds have been converted to US treasuries and bonds, the retirement fund holders will have no say in this.  To protest would probably cost them their pension or job.

The private pension plans held by we, the people, are in line for confiscation either under the GRA act or NDRP.
In 2012 I took our 2 IRAs and set up a Self Directed IRA.  We invested 100% of the  funds into gold and silver and hold these two pensions plans personally and in full compliance with the IRA.

Two words for pension plan confiscation:
Rule # 1
If you don’t hold it, you don’t own
Rule #2
If you hold it, MOLON LABE!

I have posted relentlessly remorselessly and without letting up.
You can heed my words that have been exhaustively researched, or not.  If you can’t remove your pension without quitting your job, that may be the only reason not to get your IRA or 401K into your own hands.

 

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