Tuesday, January 28, 2014

Is Obama's MyRA A Scheme To Confiscate Your Retirement Savings?

When we heard Barack Obama mention MyRA's in his State of the Union Address, it raised some eyebrows...


According to a study by the National Center For Disaster Preparedness the coming crisis will be far worse than initially predicted... Watch This Video

(WND) Packaged as a new retirement-savers plan designed for workers whose employers do not offer IRAs or 401(k), President Obama announced in his State of the Union address Tuesday an initiative that allows first-time savers to start building up their savings in Treasury bonds that could eventually be converted into traditional IRAs or 401(k) plans.

While it is not as onerous as an Obama administration directive demanding a certain percentage of individual retirement savings must be invested in U.S. Treasury bonds, it is a first step in that direction.

With the Obama administration having run federal budget deficits in the range of $1 trillion every year in office since 2009, and with the Federal Reserve announcing a new policy to “taper” Quantitative Easing by buying $10 billion a month less in U.S. government debt every month this year until QE hits zero, somebody has to buy all the Treasury debt the Obama administration plans to issue.

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12 comments:

  1. A Country Founded by Geniuses but Run by Idiots!


    If you can get arrested for hunting or fishing without a license, but 
not for entering and remaining in the country illegally — you might 
live in a nation that was founded by geniuses but is run by idiots.


    If you have to get your parents’ permission to go on a field trip or 
to take an aspirin in school, but not to get an abortion — you might 
live in a nation that was founded by geniuses but is run by idiots.


    If you MUST show your identification to board an airplane, cash a 
check, buy liquor, or check out a library book and rent a video, but not 
to vote for who runs the government — you might live in a nation that 
was founded by geniuses but is run by idiots.


    If the government wants to prevent stable, law-abiding citizens from 
owning gun magazines that hold more than ten rounds, but gives twenty 
F-16 fighter jets to the crazy new leaders in Egypt — you might live in a 
nation that was founded by geniuses but is run by idiots.


    If, in the nation’s largest city, you can buy two 16-ounce sodas, but 
not one 24-ounce soda, because 24-ounces of a sugary drink might make 
you fat — you might live in a nation that was founded by geniuses but is 
run by idiots.


    If an 80-year-old woman or a three-year-old girl who is confined to a 
wheelchair can be strip-searched by the TSA at the airport, but a woman 
in a burka or a hijab is only subject to having her neck and head 
searched — you might live in a nation that was founded by geniuses but 
is run by idiots.

    If your government believes that the best way to eradicate trillions 
of dollars of debt is to spend trillions more — you might live in a 
nation that was founded by geniuses but is run by idiots.


    If a seven-year-old boy can be thrown out of school for saying his 
teacher is “cute,” but hosting a sexual exploration or diversity class 
in grade school is perfectly acceptable — you might live in a nation 
that was founded by geniuses but is run by idiots.


    If hard work and success are met with higher taxes and more 
government regulation and intrusion, while not working is rewarded with 
Food Stamps, WIC checks, Medicaid benefits, subsidized housing, and free 
cell phones — you might live in a nation that was founded by geniuses 
but is run by idiots.

    If the government’s plan for getting people back to work is to 
provide incentives for not working, by granting 99 weeks of unemployment 
checks, without any requirement to prove that gainful employment was 
diligently sought, but couldn’t be found — you might live in a nation 
that was founded by geniuses but is run by idiots.


    If you pay your mortgage faithfully, denying yourself the newest 
big-screen TV, while your neighbor buys iPhones, time shares, a 
wall-sized do-it-all plasma screen TV and new cars, and the government 
forgives his debt when he defaults on his mortgage — you might live in a
nation that was founded by geniuses but is run by idiots.


    If being stripped of your Constitutional right to defend yourself 
makes you more “safe” according to the government — you might live in a 
nation that was founded by geniuses but is run by idiots.

    If the media panders to your openly socialist leader while the IRS targets groups with dissenting views— you might live in a nation that was founded by geniuses but is run by idiots.


    If your government 'cracks down' on legal gun sales to law abiding citizens while secretly supplying illegal guns to Mexican drug cartels— you might live in a nation that was founded by geniuses but is run by idiots.


    If your local government (Chicago) outlawed gun ownership for 'the safety of its citizens' and now boasts the worst murder rate in the country — you might live in a nation that was founded by geniuses but is run by idiots.


    What a country!


    How about we give God a reason to continue blessing America?

    This was borrowed from another blog, please spread it far and wide! Add your own and have fun!

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    Replies
    1. Exactly what does your rambling comment have to do with the article?

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    2. Love your dead right don't pay any attention to the idiot above they know not what they do.

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  2. Scary, but all true - I'm sure our Founders are turning over in their graves at what has happened to our country.

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  3. Considering that schemes for the government to confiscate individual retirement accounts have been floated in Congress, I would never voluntarily put my individual retirement savings under the control of this government by contributing to a My RA. Why doesn't Obama ask his wealthy friends to contribute to the U.S. Treasury in the form of My RA's? The wealthy could afford to lose money to the spiraling national debt, but ordinary people can't take that risk.

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    Replies
    1. You are one paranoid nut case.

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    2. And you are one stupid idiot heading for the cliff

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    3. In addition to possibly being a "stupid idiot heading for the cliff," the early Neanderthal who called me a "paranoid nut case" could possibly be an employee of the Obama administration or one of Obama's minions. His response is focused on attacking me rather than supporting his opinion, which presumably inspired the name-calling. A bit of elaboration of opinion aside from designating me as a nut case would be most enlightening. However, it may be futile to expect enlightenment or even rationality from an early Neanderthal type of homo sapiens.

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  4. he needs that 4 trillion in iras to keep barrycare floating

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  5. F. Brown is exactly right about what is happening. Read The Creature from Jekyll Island. We voted for these idiots we deserve what's coming...be very afraid and get prepared!! We are the PIGS nations already. My father sacrificed everything to immigrate to this great nation and he is probably now rolling in his grave! Socialists bastards.....

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  6. This My RA could be the first step in a plan to dupe seniors into contributing their hard-earned retirement money to the American Treasury as a ruse for replacing Social Security, 401K's, pensions, and other retirement funds with this socialistic system of spreading the wealth around and paying down the outrageous national debt with senior funding. The concept of eliminating Social Security and replacing it with a national retirement system in this way has been kicked around for some time, but this My RA plan is the first tangible attempt to dupe seniors into paying off the monstrous national debt. Beware!

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  7. A few questions: --Is a 1 to 2 percent return really going to attract savers? --Will we get numbers on how successful this program is after a year or so? Or will it simply whither on the vine, unnoticed? --Who administers the plan? i.e. linking Treasury to employers. Can we expect an O-care like fiasco? No bid contracts? -- What is the incentive for small employers to endure the paperwork to offer the plans? -- Why the clunky name? MyRA? Reminds me of my elderly aunt, Aunt Myra. -- Do we really need another federally-sponsored retirement program? We already have SS, 401Ks, IRA, Roths.
    - Tom from LifeAnt.com

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Posted By: Chris Carmouche