U.S. Government had Hearings Yesterday and Today for Taking People's IRAs and 401Ks to be Govt. Controlled

U.S. Government had Hearings for taking everyone's IRAs and 401Ks to be Government Controlled *GRAS*

 

They have brought this up over and over.  The govt. wants control of Everyone's IRA and 401Ks - they call it *GRA*  Guaranteed Retirement Account.   The govt.  had hearings on it, yesterday and today. 

 

You need to be aware of what the government is considering doing.  They want the 6 trillion in IRAs and 401K's for U.S. bonds.  It is not like anyone is clamoring to buy the bonds anymore.  They will spin this to be "good for the people" as guaranteed retirement income as the govt is calling it GRA. 

 

FYI - Spain last month took IRAs for their bonds and of course Argentina did it, when they were having a financial crisis. 

 

Be aware of what the government is talking about doing - and they obviously are getting closer to doing it, since they had hearings on it. 

 

Also, would it be surprising for a lame duck Congress after the elections pass some outrageous bills?

 

From Above Link:

 

Washington — To day the U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) released the agenda for the upcoming joint hearing with the Department of the Treasury on lifetime income options for retirement plans. Accompanying the agenda are copies of the witnesses’ requests to testify and testimony outlines. The hearing begins at 9:00 a.m. (EST) on September 14 and 15, 2010. The hearing will be held in the Labor Department’s main auditorium, 200 Constitution Avenue, NW in Washington, D.C.