Once I would have laughed at the suggestion that the federal government wants to take control of the individual's retirement funds. But no longer. In November of last year we heard one progressive economist suggest that the government seize all 401ks
and IRA's and put them into Social Security
. Yeah, it was a Democratic controlled Congress, but still a Republican White House then. But it was not a new idea, but a variation on one proposed by Alicia Munnell during the Clinton administration.
Today, it almost seems the White House and the progressive socialists
in Congress are in a race to see who can propose the most anti-man and anti-individual laws on behalf of their common good or "collective good" as they like to say now-a-days. With the recent story, "Retiree Annuities May Be Promoted by Obama Aides" the bottom line is that once again that money you thought you controlled and planned for may be seized and taken from you. Not in America you say? Once upon a time in America perhaps, but look around. Is there a bill pending that will put you in jail or fine you if you don't buy mandated insurance? Remember Kelo vs New London
? I rest my case.
I have an old friend who is converting his life time savings into gold, silver, ammunition, booze and other non-perishable staples for what he believes is the inevitable "economic crunch." I hope he is wrong that it is imminent, but at least now he can rest easy knowing that the government can't get to his nest egg, and based upon the recent price of ammunition and gold/silver it is appreciating nicely.
and IRA's and put them into Social Security. Yeah, it was a Democratic controlled Congress, but still a Republican White House then. But it was not a new idea, but a variation on one proposed by Alicia Munnell during the Clinton administration. Today, it almost seems the White House and the progressive socialists
in Congress are in a race to see who can propose the most anti-man and anti-individual laws on behalf of their common good or "collective good" as they like to say now-a-days. With the recent story, "Retiree Annuities May Be Promoted by Obama Aides" the bottom line is that once again that money you thought you controlled and planned for may be seized and taken from you. Not in America you say? Once upon a time in America perhaps, but look around. Is there a bill pending that will put you in jail or fine you if you don't buy mandated insurance? Remember Kelo vs New London? I rest my case.I have an old friend who is converting his life time savings into gold, silver, ammunition, booze and other non-perishable staples for what he believes is the inevitable "economic crunch." I hope he is wrong that it is imminent, but at least now he can rest easy knowing that the government can't get to his nest egg, and based upon the recent price of ammunition and gold/silver it is appreciating nicely.
Hmm. The same folks running health care and retirement, who save money on both when people die early.
ReplyDeleteWhat could possibly go wrong.
I would add to the list of staples: cigarettes. Even stale ones will bring top-dollar on an open (free) market.
ReplyDelete