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Tuesday, July 30, 2013

IRA & 401k Theft Plotted by US Government



January 14, 2010 by · Leave a Comment 

By Jason Hommel, SilverSeek

(Now’s the time to cash out your retirement for real silver, and gold.)

Silver Stock Report

The State of America is not good.  Criminals rule, and the righteous are in prison.

I’ve warned in the past that the US government is more likely to confiscate your IRA and 401k than your silver or gold.  Why?  Because that’s where the money is!

Personally speaking, I cashed out my own IRA over the last few years, after reading the handwriting on the wall, because the government began discussing confiscating IRA accounts.  Well, they are at it again.  Read the article in Businessweek, from Jan 8th:

http://www.businessweek.com/news/2010-01-08/americans-oppose-initiatives-limiting-401-k-choices-ici-says.html

4th paragraph down reads:

“The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.”

They want to ”get” people to invest their 401k’s and IRA’s into annuities, or likely into bonds, which are in the biggest overvalued bubble the world has ever seen.

They are doing this probably because they will have $2 Trillion in bonds to sell this year, and foreign buying is drying up.  They will steal the assets in IRA accounts, and force conversions into bonds, and keep the real investments for themselves, no doubt about it.

If you are unsure about what to do, because of taking the “penalty for early withdrawl” and that “tax hit”, consider one of the main features of money.

MONEY IS DIVISIBLE.  Thus, if you have “too much money” in an IRA or 401k, then the beauty of the nature of money, naturally being divisible, is that you can take out a portion of your money, “just in case”, to protect just a part of it, only the part you think you might need, or want, later.

Don’t ask me to give you personal advice.  If you can’t think for yourself, you don’t deserve your money anyway.  And none of those asking ever provide me with enough information anyway, such as the total financial picture, including all assets, all income, all expenses, etc., that would be needed for me to provide half way decent advice in the first place, and I don’t really have the time to go over all of that in the first place.  And the whole point of “communism and totalitarian government will collapse” is that “top down” rule does not work, because it’s too impossible for one person to guide the economy of everyone in the first place.  So, anyone who asks me for personal financial advice, shows that you don’t get it.  Just get a variety of silver and gold.  How much, is up to you.  If you are nervous about the amount, then convert less into silver and gold per transaction, and buy more later, when you understand more.

What the government gives, it takes away.  IRA accounts are a government benefit.

Naturally keeping your own compounded gains in silver and gold is a natural benefit that cannot be easily stolen–they actually have to physically come to your house to take them, and that takes work, and involves much risk that they would rather avoid.

If they force people’s IRA’s and 401k’s into annuities, they will literally give over all the assets in the accounts to the insurance/brokerage industry, and they will give you only a “set dollar” payment until you die; it’s called “fixed income”.  Fixed income, of course, will inflate to nothing in the coming hyperinflation, and you will lose your power to decide how to invest your money.

In actual fact, most of all of your stocks are already owned by one corporation, the DTCC. http://www.dtcc.com/

This, and other reasons, are why I have exited the stock advisory business.  You need to follow me out, into silver and gold only, at this point.  I saw this coming a bit early, I was early, but it’s getting rather late now, the darkness is clearly coming, and most investors will be wiped out by these coming “rule changes” where they will allow themselves to take everything you have in your retirement accounts.

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There is a saying:  “Don’t steal.  The government doesn’t like competition.”

Apparently, the saying needs to be revised to:  “Don’t invest.  The government doesn’t like competition.”

There are over 180,000 “branches” of government in the USA, including national, state, county and city governments, each with many divisions that have their own pension plans for their employees.  These investments are sometimes huge, as I have highlighted before, especially with calPERS, the California public employees’ retirement program, at http://www.calpers.ca.gov/

The total value of the CalPERS investment pool has slipped to just under $200 billion, as of Oct., 2009. http://www.calpers.ca.gov/eip-docs/about/facts/investme.pdf

Again, there are over 180,000 of these public retirement funds, as compiled and exposed athttp://cafr1.com/

They are saying California is bankrupt?  How?  They have nearly $200 billion in savings for 1.3 million public workers!  Answer?  They lie.

CAFR1 is saying that public policy is being directed based on the investments made by these many government funds.  If the biggest and most profitable investments in these government funds are in Pharmacy, Banking, Military Industrial, then we will end up getting government paid prescriptions, bailouts for bankers, and wars.

It’s the greatest conflict of interest in history.  Or more accurately, the government is pursuing its own monetary interests, and not the interests of the people.

The Bible says that the king should not multiply gold and silver for themselves; but that’s exactly what government today has done at all levels.

They are just like the wealthy Pharisees and Levites back in the days of Jesus.

And people say I’m biased because I’m a bullion dealer.  Funny.  I advocated truth for 10 years, and in the last year I was pulled into bullion dealing because the national bullion supply chain broke down.

The only “non-investment” that the government cannot see, and cannot track, and therefore, cannot confiscate, is silver and gold bullion.

Read more….

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