Nationalized retirement accounts: The coming confiscation of the retirement savings of the middle class

Having spent the last ten years, minimally, spending without conscience or concern, the federal
government has hit the wall; no one wants to buy our Treasury bonds used to finance the national
debt. As one bill after another comes out of congress giving the government and its corporate
buddies control of everything from our water and land to our food and health, it comes as
no surprise that the final act of redistribution of wealth to the already wealthy, is, the forced
conversion of private retirement investments into nationalized retirement accounts which are
nothing less than the confiscation of wealth from the middle class to pay the debt run up by one
congress and president after another.

Obama Administration begins the “grab” for retirement accounts

S 3760, introduced August 5 by Jeff Bingaman (D-N.M.) and John Kerry (D-Mass.) would
require that employers of workers currently not covered by any retirement program pay
3% of compensation into mandatory, automatic IRA accounts. That would also have the
effect of increasing the assets that the US government could then seize.

This is the Republican privatization of Social Security scheme trotted out during the Bush years,
retooled and now focused on the private savings of the middle class. Now, instead of forcing
you to invest any portion of your Social Security retirement in the stock market, a move which
would have seen one of the greatest thefts of wealth and its redistribution to the crooks and
thieves on Wall Street had they been successful, the Democrat faction has taken up the cause of
confiscating private investment accounts to fund the rampant overspending of government using
retirement savings of those who were able to contribute to 401(k) and IRA accounts and who
have savings in private pension funds.

In lieu of the massive budget deficits and the continuance of uncontrolled spending over the
last ten years by both political partys, an equally massive supply of Treasury Bonds, used
to finance the debt has been floated. Unfortunately, the debt of the nation is so massive, so
incomprehensible, there are no longer any willing buyers for these bonds in the number and
amount needed to sustain the debt. No one in their right mind buys bad debt.

Congress intends to confiscate the estimated 11 trillion sitting in 401(k’s) IRA, and other private
pension and retirement accounts, by creating a “nationalized retirement account” system, forcing
the conversion of the savings and investments of American workers into a slush fund to be used
to collateralize the national debt. These 401 (k) and IRA and pension accounts will be converted
to Treasury bonds and sold to anyone who will buy them.

These bonds will in effect be “certificates of confiscation”.

Creating fictional accounting terms: Quantitative Easing = Theft

Quantitative easing is a tool of monetary policy and simply put is, the Federal Reserve
intentionally destroys the value of our money by artificially expanding the supply in circulation

(Monetizing). The effect is an increase in the circulating supply of fiat currency; of currency
without regard to maintaining or recognizing its quality i.e, its actual or real value.

Quantitative easing is a fictional theory used to hide the conversion of debt into debt currency.

You are now under contract … Bond futures contracts, that is.

Are you aware that all the money borrowed and squandered on wars, needless corporate agency
expansions and creations, foreign aid, bailouts and stimulus packages, and whatever else the
federal government decides to blow money it doesn’t have, on; every dime will be paid back by
you, your children and grandchildren.. YOU have now become subject to “bond contract” which
is indenture. Indenture is an agreement containing the terms under which money is borrowed.

The full faith and credit of the United States is YOU. Any debt issued by the US government,
your state, county or local government is predicated upon wrenching the repayment of the debt,
out of you. You have been contracted into slavery.

Bloomberg reported in early 2009, that the Federal Reserve announced the intent to purchase

$300B of longer-term Treasuries. In essence, the Federal Reserve is buying our debt with a
valueless fiat currency created by debt, and holding it longer. This will increase the amount of
debt owed compounded by the added interest and fees. In the interim, the Federal Reserve is
buying up taxpayer owned infrastructure and assets, with a fiat currency valued at O.

Currently, government is looking for buyers for an approximate 2 trillion in treasuries sales.

Marti Oakley (c)copyright 2010 All Rights Reserved