Thursday, February 04, 2010

Get Your KY Jelly Now.........
It looks like you're gonna need it.

About 3 weeks ago I posted a link to the Market Ticker and Asked Folks to read it and comment.

Well it looks like this is beginning to move.

From the Western Rifle Shooters today comes several links that verify this, soon to be theft of our savings by the government.

"The Department of Labor and the Department of the Treasury (the "Agencies") are currently reviewing the rules under the Employee Retirement Income Security Act (ERISA) and the plan qualification rules under the Internal Revenue Code (Code) to determine whether, and, if so, how, the Agencies could or should enhance, by regulation or otherwise, the retirement security of participants in employer-sponsored retirement plans and in individual retirement arrangements (IRAs) by facilitating access to, and use of, lifetime income or other arrangements designed to provide a lifetime stream of income after retirement. The purpose of this request for information is to solicit views, suggestions and comments from plan participants, employers and other plan sponsors, plan service providers, and members of the financial community, as well as the general public, on this important issue."

You do realize where this is gonna go right?
Your IRA, 401K and most any other retirement account that you have been working on is gonna get nicked and all your gonna be left with is an IOU signed by President Obama.

No kiss.
No reach around.
No Nothing.

The Treasury Is Soliciting Your Feedback Regarding The Proposed Annuitization Of 401(k)
Zero Hedge has the Document posted and you can read it there.

Yes, I know it doesn't come right out and say exactly that are gonna swipe your money. But do you really expect them to say that?
There's always some "For the Children" reason given for what they do so they can convince enough folks to give legs to these kind of things.

It would behoove you to go read the original Market Ticker Article and then start following the links Here.

Now I'm the last guy you want to be getting financial advice from, OK?
But I put these things up here so at least you have a heads up and can start figuring out what you want to do about it.

Because you know damn well these bastards are gonna at least TRY to pull this off.

So plan accordingly and do what suits you. But like GI Joe always says - "Knowing is half the battle".

Gratuitous Picture for a Thursday afternoon-
I have Groupies.
The Girls on their daily visit this morning.



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