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Tuesday, January 28, 2014

Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World

Look for Them to renew the tax collection assault on your yard sales, internet, coin dealers, pawn shops, and legitimate charities. Any scheme they can think of to get more of what the underlings have they'll impose.

"Pick-up" handy residential repair trades like  plumbing, electrical, home repairs will come under increased regulation with non-compliance fines and fees.  Backyard lot farming strictly out. 

Be imaginative. Think of where else you could stomp and who to fleece if you were a tyrant. Design and create your own board game for fun and frolic with friends and family. The objective will be to get control of your state legislature which has nullification authority to block federal ordinances and save its citizens and municipalities.

Submitted by Tyler Durden on 01/28/2014 13:25 -0500
Wondering who will take over the mantle of Treasury bond buyer now that the Fed is stepping away? Curious of the government's next steps towards repression and control of wealth? Wait no longer. As the AP reports, President Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement

Of course, this is not the mandatory IRA that remains somewhat inevitable (as the muddle-through fails) but is certainly a step in the direction we alerted readers to a year ago by which the government generously offers to help manage your retirement savings. Two words spring to mind... remember Poland.

Eager not to be limited by legislative gridlock, Obama is also expected to announce executive actions on job training, retirement security and help for the long-term unemployed in finding work.

Among those actions is a new retirement savings plan geared toward workers whose employers don't currently offer such plans.

The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into a traditional IRAs, according to two people who have discussed the proposal with the administration. Those people weren't authorized to discuss it ahead of the announcement and insisted on anonymity.
Of course, this is not what the CFPB suggested a year ago... We're sure the government is just trying to protect your retirement account from terrorists. 
From Bloomberg:
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.

The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.
But it's getting close.