Is This the Next Step in a Government Takeover?

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.

 
 

  • AlbanyMediator

    I don’t think so. Fiduciary liability has been a key issue under ERISA ever since it was signed into law on Labor Day, 1974. This was in line with prior precedent.

  • l2a3

    That was before “banking in” and it is not what the law says but what the writers intended. On the other hand where do you think the money will come form to bail out the next failed bank? From the Government???? Not in your lifetime.

  • http://www.arizonamilitia.com/ ArizonaMilitiaDotCom

    I was employed six and a half years ago by an employer who began putting a percentage of each of my paychecks into a 401(k) plan without my being aware of it. When I found out, about a year later, I immediately put an end to all future contributions.

    By then, the fund had nearly a thousand dollars in it, and there was no way for me to get it out before I turned 60, so I left it there. The only purpose that it serves now is as a barometer, a “canary in the coal mine” as it were. When it gets taken over by the Obamunists, I will know that it is time to pull all of my money out of the bank and put it into more gold and silver. That will never amount to much, since we live from paycheck to paycheck, but there was never any intent of the Obamunists to allow us to keep that money for “retirement”.

    That money that was no longer going into my 401(k) has instead been invested in gold and silver, as well as the other “precious metals”; brass, lead, copper, and steel.

    Buy More Λmmo. Doing so is the only viable treatment for ODDD (Obamunist Douchebag Distrust Disorder). Doing so is also the only remaining path to Liberty. Support your local Militia and/or your local Oath Keepers. This won’t end pretty, Λmerica.

  • Tracy Jones

    THIS IS GOVERNMENT WAY OVER REACH!!!!!!!!!!!!!!!!!!!!!!!!

  • ddcannady

    Lots of programs are designed to transfer authority from individuals to the state. Some of them are supported by both sides. The War on Poverty, the War on Drugs, the Dept of Education and EPA, just to name some of the most prominent, are all designed to give politicians and bureaucrats greater security in their positions and greater power over our lives. Respect for individual freedom has nearly disappeared and been replaced with collectivist ideas of “the greater good” and “the soul of the nation”. We are paying the price for abandoning freedom.

    • carl inWis

      …. and we are paying for abandoning control of education and the media!!!

  • TyRockwell

    This has surely got to be illegal.

    • Town Crier

      Since when did THAT make any difference to King Obummer?

  • Bruce Wayne

    GESTAPO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • Bruce Wayne

    Get your money out of IRA’s and 401k’s and buy the ORIGINAL hard currency,
    gold and or silver

  • Jan

    First they need to get our guns – then they will go after our money.