The Train is already in Motion!
On May 18, 2011, senators Herb Kohl (D-WI) and Mike Enzi (R-WY) introduced S1020: “Saving Enhancement by Alleviating Leakage in 401k saving Accounts”, AKA: Seal 401k savings accounts.
First comes Restriction, then Outright Control! This bill will Restrict you from accessing Your money; you wouldn`t even be able to borrow from it.
On February 23, 2012 California congressman Kevin De Leon introduced SB1234, it`s known as: “Golden State Retirement Trust”. This Bill is based on GRA`s
On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. SCEPA is the very same Institution where Teresa Ghularducci originated the GRA concept. Of course, this Connecticut Bill is also based on GRA`s.
Other states such as, Massachusetts, Florida and Ohio have made or are actively conducting moves such as GRA’s.
As Reported in [Vol. 7.1] of the South CAROLINA JOURNAL OF INTERNATIONAL LAW AND BUSINESS:
The Social Security Administration would administer the GRAs in addition to existing Social Security benefits. Without a tax incentive, 401(k) plans would likely cease to exist, making Social Security and GRAs the principal retirement investment vehicles for many Americans. However, Congressional borrowing from the Social Security Trust Fund for non-Social Security spending`s has resulted in a Treasury debt to the Trust Fund in excess of $2.6 billion. Implementation of GRAs would provide the federal government with an entirely new source of capital to raid to meet current spending needs. In essence, taxpayers would be nudged out of Section 401(k) plans and into a government held and government-managed retirement system that the Treasury could borrow against. These measures comprise a network of capital controls that use regulation, incentives, taxes, and the threat of civil and/or criminal penalties to incentivize taxpayers into directing their investments where the U.S. government has more disclosure, control, and access to the capital.
Can an Entire Country be “Persuaded” to Give-up Their Money?
Countries such as Belgium, Poland, Hungary, France, Argentina, Bolivia and Ireland have already Seized Private Retirement Accounts. They convinced their citizens through newly formed legislation and of course ….. Tax implications.
Did the Supreme Court`s Ruling, open Pandora`s Box?
FoxNews commentator, Judge Napolitano said: “The supreme court ruling on ObamaCare, gives the federal government `power on a platter` to tax everything under the sun.”
If you have read Goldworth Financial`s previous reporting on the de-privatization of retirement accounts, yet are waiting for the official government announcement: “To protect you and for the good of our country, we are nationalizing private retirement accounts”. By then, it will be too late! It’s the old “Frog in a Boiling Pot of Water”, they turn up the heat, in stages.
If the Supreme Court`s ruling on ObamaCare didn’t wake you, it should. The Ruling will simply be use as Case Law when Government “herds” everyone into Nationalized Retirement Accounts.
You have worked Long and Hard for your money, taxes will take a portion, inflation will take a portion… Don’t allow Government to Take the Rest! Government money is Only a Note, a government promise; tangible Gold & Silver are constitutional money.
Much like Imminent Domain, most assets can be “taken-over” by the government.
Certain Gold categories have been Exempt from Previous Federal Recalls.
Courtest Of Goldworth Financial