Federal Confiscation of Private Pensions

I have been saying for 4 years that with so much money in private pension accounts it is a matter of time before the federal government under this administration will begin taking it in order to shore-up the federal debt. It has actually been under consideration since 2008's financial plummet. There is entirely too much money out there that is not available to the government and not subject to their income redistribution scheme. It is a "low-hanging fruit" that is too enticing not to pick.

The US Supreme Court recently ruled that employers are responsible for protecting employees pension funds from bad investment practices by their fund management companies. Since the federal government will determine that the employers and their fund managers are negligent, they will have no chose but to confiscate the pension money to protect it for the employees. Like Social Security, they will skim 5-6% of your money off the top in order to administer the accounts. This is the same government that has spent all the funds from our Social Security "lock box". (I discuss that in my book.) Once again (or should I say "still") the federal government is taking from the makers to give to the takers. Taxpayers take another hit from the Obama administration. I closed all my pension accounts in 2011 and 2012. I took a big hit but the money is now in my control, not the federal government's.

On top of all of this, it is a matter of time before the feds stop making hard currency. All financial transactions will be done electronically, making it easier for them to monitor and control all aspects of the financial world. Money will move only when the government allows it. It will be like taking guns away from the law abiding citizens: only the criminals will have guns. The criminal underworld and black market will still need a hard currency exchange system so if you don't want to participate in the electronic financial world of the federal government, you will have to become a criminal, which will be necessary when they outlaw money. Don't think for a second that precious metals won't also be illegal to possess. Don't think for a minute that the value of precious metals won't shy-rocket as a result. Even the federal government can't take away man's love and adoration for gold! All they will accomplish is to make it worth more. Since the wealthiest among us possess more precious metals, it will also increase the income gap. The rich will get richer because they have the where-with-all to hide it.

Some other ignored consequences of this massive pension take over will not  be kind to the world financial market. Taking discretionary, invest-able American money out of the market will have  far-reaching consequences. The most devastating to the US economy will be the lose of the dollar as the international trading currency. The only thing propping up the dollar now is the fact that it is the dominant trading currency around the world. That allows the Fed to print it at will. Lose the trading status and it's value will plummet overnight. Massive inflation will hit the US (and most of the rest of the world) and Obama's dream of reducing the US to a third world country will be realized. He still has a year and a half to pull it off. I hope after 6 1/2 years under Obama's leadership that no one doubts that is his ultimate goal for us international thieves and bullies.

God Bless America!!!

God help America!!!