People on all sides of the political spectrum agree on one thing: the group that controls the money controls everyone else. Which makes a recent Supreme Court decision scary for those of us who support freedom.
A recent court case, Tribble v. Edison, found that employers must protect their employees’ 401(k) plans from mutual funds that perform “poorly.” And Martin Armstrong, an economist who predicted (correctly) the Black Monday crash in 1987 and the Russian financial collapse in 1998, said,
“Between the court ruling and the Obama administration’s push for stronger fiduciary rules[…], [a] strong message that government can much easier seize the pension fund management industry of course to ‘protect the consumer’ [has been sent]. He also says that the ruling, “sets the stage to JUSTIFY government seizure of private pension funds to protect pensioners.”
Now, it doesn’t take a genius to realize that, if the Federal government takes control of pension plans, including 401(k)s, then they will effectively control the Baby Boomers, the largest active voting block in the country and, through fear and intimidation, ram through whatever legislation that they desire.
This sets up a dangerous possibility as the Feds continue to do things “for the people.” Funny, I seem to remember that Mao Tse Tung and Stalin committed the atrocities that they did to help the people.
What do you think? Is this another step in a government power grab? Comment below.