Wednesday, February 05, 2014

MyRA - Capitalism is Long Dead, Long Live Socialism

These things never start out as overt take overs, at least those in charge would never tell you as much up front, but they always end up the same.
Simply put, the new myRA program put forward by Obama is at best a sucker's deal… or worse, it's a first step toward the nationalization of private retirement savings. (Note: If you haven't yet heard of myRA, I'd strongly suggest you read this excellent overview by my colleague Dan Steinhart.)
Even before the new myRA program was announced, there had been whispers about the need for the US government to assume some risk for US retirement accounts. That's code for forced conversion of private retirement assets into government bonds.
Why do we understand where this is going? Simple, it's math. 2 + 2 = 4....always. Sure there will always be some fool who will inform you that 'This time it's different!'. However, they are precisely that, fools. You see, if I have 2 dollars and I spend 2 dollars, I will have zero dollars. Period.

As stated  a long time ago (Sept 2008) here -
The long and short is they are bleeding the real assets out of the United States and passing them into foreign control. Make no mistake, they will bleed this country dry. Savings, checking, 401K, gold, assets, they want it all and will not stop until they get it.
How do we know this? Once again...math. Or more precisely, human behavior. If Joe Tyrant has no money to cover his debts, he will claim that your money is needed to pay his debts.After all, he's a tyrant, that's what tyrants do. It doesn't not matter one iota who Joe Tyrant's real identity is, all that matters is that he's a true believer. So if he's red, blue, purple, left, right, as long as he subscribes to the concept that 'The banksters have a right to their rate of return', we will always have a Joe Tyrant making a grab at your assets to "guarantee" his.

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