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A Friend Named Sam
#1
Quote:I have an old acquaintance named Sam who has a hell of a deal for you.

Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately… but he’s trying to make a comeback. And Sam is prepared to float you a really great investment opportunity.

Here’s the deal he’s offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return.

Granted, the rate of return he’s promising doesn’t quite keep up with inflation. So you will be losing some money. But don’t dwell on that too much.

And, rather than invest your funds in productive assets, Sam is going to blow it all on new cars and flat screen TVs. So when it comes time to make interest payments, Sam won’t have any money left.

But don’t worry, he still has that good ole’ credibility. So even though his financial situation gets worse by the year, Sam will just go back out there and borrow more money from other people to pay you back.

Of course, he will be able to keep doing this forever without any consequences whatsoever.

I know what you’re thinking– “where do I sign??” I know, right? It’s the deal of the lifetime.

This is basically the offer that the President of the United States floated last night.

And like an unctuously overgeled used car salesman, he actually pitched Americans on loaning their retirement savings to the US government with a straight face, guaranteeing “a decent return with no risk of losing what you put in. . .”

This is his new “MyRA” program. And the aim is simple– dupe unwitting Americans to plow their retirement savings into the US government’s shrinking coffers.

We’ve been talking about this for years. I have personally written since 2009 that the US government would one day push US citizens into the ‘safety and security’ of US Treasuries.

Here’s the thing: according to the IRS, there is well over $5 trillion in US individual retirement accounts.

For a government as bankrupt as Uncle Sam is, $5 trillion is irresistible.

They need that money.

They need YOUR money.

And this MyRA program is the critical first step to corralling your hard earned retirement funds.


http://www.sovereignman.com/trends/ira-c...ing-13434/
It's the "BILL OF RIGHTS" not the bill of "needs"
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#2
It may even be worse than that, but that's bad enough.
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#3
Quote:From the Speech:

Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension.

A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks.

That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in.

And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans.

Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can...

Or put another way - if you like your retirement account you can keep your retirement account.


http://www.zerohedge.com/news/2014-01-28...vings-bond
It's the "BILL OF RIGHTS" not the bill of "needs"
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#4
Call it what it really is

ObamaCitizensRetirementAccountProgram

ObamaCRAP
The Second Amendment does not GIVE us the right. It tells the gov they can not infringe our right.
[Image: s2b0iw.jpg]
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#5
kadar;133282 Wrote:Call it what it really is

ObamaCitizensRetirementAccountProgram

ObamaCRAP

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It's the "BILL OF RIGHTS" not the bill of "needs"
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