France has Now Grabbed Their People's Pension Funds to Give to Banks and Their Debt - Joining Hungary and Ireland -

Seems all over the world countries are grabbing their People's Pension and Retirement accounts, they pass the laws very fast and spring the surprise on their people.  France has just joined the fray of taking their people's retirement accounts to give to the banks and buy the countries bonds.  They have taken 36 Billion of people's Pension and retirement accounts.

portion from above link:

Asset managers will have the chance to get billions of euros in mandates in the next few months for the €36bn Fonds de Réserve pour les Retraites (FRR), the French reserve pension fund, after the French parliament last week passed a law to use its assets to pay off the debts of France’s welfare system.

I had posted last week about Hungary taking their people's pension funds.

Ireland too is talking about taking their people's pensions and giving it to the banks.

Portion from above link:

Fine Gael, Labour and Sinn Féin attacked the intention to use the National Pension Reserve Fund to help provide a further €10 billion in further capital for the banks. In total, the banks could end up getting another €35 billion if their losses are bigger than expected.


So, does everyone see what is happening around the world?

The banks come before the people!  The people's money of which they saved and worked all their lives for is being grabbed by the leaders of countries to give to the banks.  Besides people having to pay more in taxes and get less in wages.  In Ireland the people have to take a cut in the minimum wage for their "bailout".

I have no doubt there will be demonstrations in the European countries regarding what the governments are doing there.  

But I will say again, it is simply a matter of time before the U.S. government passes a bill that allows them to take everyone's Private IRA/Pension and 401Ks.  They have had committee meetings on it already, it has been discussed many times.  Remember Federal and State Government Pension funds all over the U.S., are under water right now.  If you think the government will not over reach their powers by stealing everyone's private retirement accounts, then you have not been paying attention to what has been happening with crazy laws being passed or about to be voted on.  


I am including the S 510 "Safe Food Bill" which has enough support to pass the Senate and House - which then effectively makes growing your own vegetables illegal and forget being able to purchase food/vegetables at a farmers market - as those will be wiped out and made illegal also.  Completely Crazy and Outrageous.   But it seems they are intent on passing the bill, even though people have been calling their elected officials, saying "don't pass it" they are standing by the bill.   This will then give Monsanto control of all of our food and seeds.  In fact under the S 510 bill, it will be illegal to save your own seeds.  


We are living in bizarre times and as you think it can't get more outrageous, it does.  


So, look around, pay attention and if you want to be assured you have your own retirement account to use as you want, I would advise talking to an accountant, find out all the penalties of liquidating your Private IRA/pension/401K and do what makes sense to you.  Is it better to take a "tax" hit now and save your retirement money or leave it where it is and let the government possibly grab it for debt and the banks?  When they do/if make the grab, it will be fast with no fore warning, IMO, just as the other countries have done.  People have not had the time to get their money out, once the decisions have been made around the world to take the Pension funds.  So you make the decision to what feels right to yourself, just pay attention and wake up to the desperation of countries.  


When/if it does happen in the U.S. - it will be... one moment, you have your own private retirement account to invest as you want and the next it will be under government control for the banks and debt due to giving Trillions to the banks.  


Ask the French now, Hungarians, Irish, Argentinians, if they expected this to happen to them - in that their government swooped in and took their retirement accounts for their banks and debt of the countries.   I would bet it came as a complete surprise.  


An Idea ..... for the December 7th - bank run - it should also be a Private retirement account run too and put the money into metals - which has been the best investment of the year so far anyway.  The tax of liquidating retirement funds, compared to the increase of metals for the year so far..... which is more?.......  considering silver is up over 46% for the year.... you make that decision!

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.