Monday, February 1, 2010

Are you prepared to see the Government take over your IRA and 401Ks?

In the past few weeks both Market Ticker and Zerohedge have said that in an attempt to force us to buy up more government debt and fund the spending in Washington, there will be a move to force us to do this with our IRAs/401Ks. Consider the implications of this? 3-4% yields in Treasuries while Treasury prints $$$$ via Quantitative Easing and thereby undercuts the value of the US Dollar. It equates to a slow theft with the appearance of a helping hand.

Here it is at ZH with a link to the proposal at Treasury:
http://www.zerohedge.com/article/treasury-soliciting-your-feedback-regarding-proposed-annuitization-401k

Karl Denninger discusses this at length in his weekly podcast radio show about halfway into the playback:
http://www.blogtalkradio.com/marketticker/2010/02/01/paulson-barney-frank-budgets-and-more

Another link:
http://moneymorning.com/2010/01/27/retirement-plans/

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