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The Feds Want Your
Retirement Accounts

American Thinker, by John White

Original Article

Posted By:KarenJ1, 2/22/2013 7:20:14 AM

Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag. Last January 18th, in a little noticed interview of Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency´s first foray into consumer investments." That thought generates some skepticism,

Comments:
This is absolutely outrageous. The Consumer Financial Protection Bureau is not controlled by congress. It´s another nightmare created in a law that was shoved through. It´s just indescribably horrific.

      


Post Reply  

Reply 1 - Posted by: Keekng, 2/22/2013 7:28:50 AM     (No. 9190249)

If the gub´mint wants to see an all out rebellion this will cause one. After being frugal my entire working life they have no right to attack my savings. No wonder they want all guns confiscated.

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Reply 2 - Posted by: seamusm, 2/22/2013 8:07:42 AM     (No. 9190302)

1.2 billion bullets won´t be near enough if they try to steal - ´manage´ - my savings.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: suedotsue, 2/22/2013 8:22:22 AM     (No. 9190335)

The problem is there is only one political party in Washington. The GOP made it clear a long time ago that Democrats can do whatever they want.

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Reply 4 - Posted by: slipstik, 2/22/2013 8:23:16 AM     (No. 9190339)

LBJ stole the social security trust fund just as I was starting my adult working life. Now the democrats are going to try to steal the funds I worked my butt off to save in spite of them. They´ve been trying to do this for quite a long time. Sooner or later, they will succeed. Welkome to Amerikastan. Folks, when the heck are you gonna wake up?????????

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Reply 5 - Posted by: lil dotty, 2/22/2013 8:24:21 AM     (No. 9190341)

What ever ´Lola´ wants, ´Lola´ gets and little man, Lola wants you! ...Damn Yankees

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Reply 6 - Posted by: lonestarm3, 2/22/2013 8:46:02 AM     (No. 9190383)

This not a new idea.

Argentina started it a few years ago.

The notion that government can confiscate personal wealth to buy votes from the poor is the core of the progressive agenda.

Obama, the democrats and a large segment of the republican "old" leadership all agree on the concept. The only disagreement is over their rationalizations of the theft.

But it isn´t their fault -- it is the fault of the fools who elect them. As Pogo said " We has met the enemy and he is us."

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Reply 7 - Posted by: geoguy, 2/22/2013 8:46:37 AM     (No. 9190386)

I have done without my whole life to save for retirement. Now the criminals that is our government want to steal it so they can keep their power. I have been considering cashing out my IRA for a year, it looks like I will have to very soon.

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Reply 8 - Posted by: lala, 2/22/2013 9:03:48 AM     (No. 9190417)

I keep thinking I should cash out my IRA and buy enough land to grow some veg and raise some chickens so I have someplace to live and something to eat when the collapse comes. Richard Cordray is just as evil as his boss for even contemplating this. Another example of the elite ruling class who thinks he knows better how you should live your life that you do.

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Reply 9 - Posted by: Bobn.T, 2/22/2013 9:04:35 AM     (No. 9190421)

One more reason for the coming revolution.
When will the scale be tipped?

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Reply 10 - Posted by: Namma, 2/22/2013 9:04:55 AM     (No. 9190422)

wonder how the obama lowinfovoters feel about this..a litle redistribution of the wealth....

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Reply 11 - Posted by: The Architect, 2/22/2013 9:07:20 AM     (No. 9190428)

Well, thats a relief to hear. I wonder if they´ll run this as efficiently as they are currently running the economy? s/o

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Reply 12 - Posted by: VAPMAN, 2/22/2013 9:11:09 AM     (No. 9190438)

If they do this I will take Biden´s advice and get a shotgun. I have a counter proposal. Make a one time payment of say $600 to all government retirees and people with tax funded pensions and that is it for their lifetime pension. Think of the trillions that could be saved in current and future government expenditures.

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Reply 13 - Posted by: MattMusson, 2/22/2013 9:11:19 AM     (No. 9190439)

They won´t Confiscate. They will Mandate.

They will mandate a certain portion be invested in Government Bonds.


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Reply 14 - Posted by: melman, 2/22/2013 9:14:42 AM     (No. 9190450)

I keep telling people Obama will be after this pool of money next, most shake thier heads and don´t beleive he can do it. By hook or crook he will do it, with the complicity of this useless Congress.

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Reply 15 - Posted by: jerseytomato, 2/22/2013 9:20:19 AM     (No. 9190470)

During Obama´s first term, Nancy Pelosi sat in front of a room of illegal immigrants telling them how they deserve a better life while being here.

She went on to say how everyone is going to have to ´chip in´ to make that happen, including those with ´retirement accounts.´ Specifically, ´IRA´s.´

There´s a video on youtube that backs this up.

This communist regime planned all of this - long ago.

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Reply 16 - Posted by: nosillod, 2/22/2013 9:23:52 AM     (No. 9190478)

Talk about playing with fire. If you ask me, guns and our retirement funds are major tipping points. They are doing the slow boil on us with health care, (and may still pay a heavy price for that) but take our retirement or guns and those in Washington better have a quick plane ticket out of the country.

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Reply 17 - Posted by: Chuzzles, 2/22/2013 9:25:28 AM     (No. 9190483)

This was done by the Argentinians a number of years ago because their ruling party is like Obama lite. I imagine the handrubbing glee mixed with envy when Obama & co. found out the Agentines successfully pulled it off. This has been coming for a while folks so you better start looking at your finances toot sweet. It ain´t going to be purty as they say.

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R_DBL_B
  


 
Reply 18 - Posted by: Susannah, 2/22/2013 9:36:22 AM     (No. 9190512)

#10, those people don´t have IRAs. They will, however, be very happy to take yours and mine.

The Obama administration has been hinting about doing this for the past four years. They´ll take your money and distribute it to you as they see fit.

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Reply 19 - Posted by: lifelonghuman, 2/22/2013 9:48:05 AM     (No. 9190533)

It can´t be stopped unless you cash out. And if you cash out you´ll be taxed to death. And those Roth accounts are equally tantalizing. This is as good a reason as any for the government to buy over a billion bullets.

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Reply 20 - Posted by: Rolfnader, 2/22/2013 9:50:31 AM     (No. 9190537)

As I am rapidly approaching retirement, I have to agree with #8. When you find out that this board is buried deeply and safely inside the Fed ( Rush reported the other day that QE is propping up the stock market to the tune of $85b/month) it certainly does put some immediacy into what may need to be done.

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Reply 21 - Posted by: veritas, 2/22/2013 10:11:48 AM     (No. 9190593)

As posters have noted: a. elected crooks started with Social Security Trust Fund; b. groundwork has been being laid for years; c. the very term "private property" is a joke to them.

But no, no, no. There´s no connection with the concurrent, and also long-running, policy and program to disarm the ordinary citizen. Nope. None. Not any.

#13: A distinction without a difference, as the saying has it.

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Reply 22 - Posted by: craige, 2/22/2013 10:15:45 AM     (No. 9190605)

Don´t suppose this has anything to do with the confiscation of civilian firearms?

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Reply 23 - Posted by: AltaD, 2/22/2013 10:58:01 AM     (No. 9190719)

I´d cash out early but they´d get a huge chunk of MY money via penalty taxes. It just doesn´t pay to play by the rules.

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Reply 24 - Posted by: ScarletPimpernel, 2/22/2013 11:52:33 AM     (No. 9190833)

If you´ve never heard Mark Levin´s conversation with Prof. Teresa Ghilarducci (mentioned in the article), here it is. He originally had her on his show in 2008 and recently replayed it. Do listen to it.

http://www.youtube.com/watch?v=7TTsHel-qbc

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Reply 25 - Posted by: marthaville, 2/23/2013 11:22:10 AM     (No. 9192444)

#4 you are dead wrong. LBJ presented a unified budget, but the Social Security Trust Fund is separate from the general fund. Social Security is off budget. It started that way with the Social Security Act of 1935 and remains that way. Get your facts straight. Excess funds in the Social Security Trust Fund, since day one, can only be invested in United States Treasury securities. Read loan to the general fund. Nothing has changed.

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Reply 26 - Posted by: marthaville, 2/23/2013 11:26:50 AM     (No. 9192447)

Taking your IRA and 401(k) accounts will be the first step. The second will be to limit your Social Security benefits based on your pension income.

Note that there has been no mention of taking regular pension accounts. This would have to include union pension funds, and the Democrats will never do that. Ditto with Federal Employees Retirement.

If you retired from one job, took a lump sum and rolled it over into an IRA, watch out. Obama and the Democrats think they can pay off the Public Debt with your IRA and 401(k) accounts. Remember, the Democrats just want what is fair.

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Reply 27 - Posted by: Bad Dog, 2/23/2013 11:29:40 AM     (No. 9192449)

If you´ve paid attention to Betsy McCaughey at all this past 3-4 years, you would have known this already. They want everything all of us have.

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Reply 28 - Posted by: NYbob, 2/23/2013 11:45:01 AM     (No. 9192463)

Go for it. All that money just sitting there is too much temptation. The big tell will be when they start talking about trusts. THAT is the giant loophole for all of them so I imagine it will be some kind of new fee on trusts, except for members of congress.

#8, good plan, but don´t be too isolated or you will have to stand watch 24 hrs. Also realize even an off the grid, independent, debt free, estate is only going to get you extended relief if this thing goes ALL the way down. Think Cuba.

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lands in China for week-long trip with
her daughters and mother... while
President admits he´s lonely at home

28 replie(s)
Daily Mail [UK], by Sara Malm, David Martosko    Original Article
Posted By: Attercliffe- 3/20/2014 12:28:11 PM     Post Reply
Michelle Obama arrived in China on Thursday for a weeklong visit that will steer clear of politics and instead focusing on education and community. [Snip] On Friday, she is to spend the day with Peng Liyuan, the wife of Chinese President Xi Jinping, something which diplomats hope will build bridges between the two countries. ´I think this is a very good opportunity to improve the China-U.S. relations, as the first lady can represent the soft side of diplomacy,´ said Wang Dong, a political scientist at Peking University´s School of International Studies. ´Michelle Obama herself has been accomplished in areas such as


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