Mandatory IRAs

There is an estimated $15 trillion worth of private retirement plans in the United States; $4 trillion in IRAs alone; this constitutes 35% percent of all private assets in America. That is what Obama government is eyeing to help plug the multi-trillion dollar deficit in his big spending budget.


In October 2008, Peronista president Cristina Kirchner of Argentina (right) confiscated US$30 billion worth in that country's ten privately managed pension funds. This was presented as an emergency measure to meet her faltering government's financing costs. The Argentine congress went along with this radical property grab of individual retirement accounts, 401Ks and the like.

Could this happen in America?

Mandatory IRAs just proposed by Obama Administration on 1/25/10 is the 1st step in stealth nationalization & forced investment of our retirement benefits to support the treasury debt market! Read the veiled report in Business Week below:



http://www.businessweek.com/news/2010-01-25/mandatory-iras-may-burden-small-employers-business-group-says.html