Government wants to urge you to loan them your 401(k): "There literally isn’t enough money in the world to float the T-notes the Treasury must issue in order to prop up our unsustainable spending path. There are, however, about $3.6 trillion in funds just sitting in 401(k) accounts. If the government can urge–or force–you to convert your 401(k) into T-note funded annuities, the Treasury can continue to issue those notes to float the government’s deficit. Essentially, you’ll be converting your retirement funds into an IOU from the government…just like your social security account has already done.
This will allow the Treasury to keep borrowing money–from your retirement–in order to keep issuing more debt that they may or may not be able to pay back to you."
Guarenteed Retirement Account Bailout (G.R.A.B.)
Click Here to see the updated 2.0 version of the report.
Tuesday, January 19, 2010
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