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Silver Wheaton Corp. Message Board

  • irisbaranski irisbaranski Oct 12, 2010 8:28 PM Flag

    Heads up for anyone who has a 401(k) or IRA....

    The hearing was a platform for advocates of Guaranteed Retirement Accounts (GRAs), a program authored by Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York. Back in November 2008, Ghilarducci testified to Congress that 401(k)s and IRAs should be confiscated and converted into universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration.

    “You don’t hold hearings on something you don’t intend to do,” points out the Market Ticker blog. “I hate it when I’m right. I hate it even more when tens of millions of Americans are going to get reamed to pay for the crimes of the handful on Wall Street, and their crony enablers in Washington DC.”

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    • A much more subtle way of stealing the savings and retirement funds is already happening. Why would they bother with this?

    • Not going to happen as that be the start of

      2nd american revolution dude. So dude think of

      something else besides reading something that

      crazy. Dj.

    • 401K's and IRA's provide more than half the stock market.

      Seizure by the government would topple the entire market system.

      Govt has meetings on the lunatic fringe all the time.

      • 2 Replies to yourdeadmeat69
      • YDM: "401K's and IRA's provide more than half the stock market. Seizure by the government would topple the entire market system.Govt has meetings on the lunatic fringe all the time."

        The socialist-marxist-democrat progressives are pushing this confiscation of wealth. They are no longer the lunatic fringe when it comes to power and influence in Washington DC and many state capitols. Soros and the progressives brag that the have bought and paid for the democratic party and many of the current progressive republicans as well. They have already cloaked it as a guaranteed retirement account (GRA) with a 3% return in U.S. Treasury Bonds on your money.

        They know this proposed seizure would never fly with the majority of the American public so the GRA will get passed as a voluntary option (part or all) for IRA and 401K holders. Then the government will gobble it all. Slowly with republicans in power, more quickly with democrats but never-the-less it will progress until the $6T is all consumed.

      • yourdeadmea, You better wake up fellow, and quit sticking your head in the sand.....The Gov will do anything anytime to take your hard erned savings....So, protect youself....Please..!

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