Legislation would effectively eliminate 401(k) plans ;

And create
a second quasi-Social Security system
in which the government would take control
of [seize] the retirement plan savings of
millions of Americans. . . .

A House subcommittee
is considering the advancement
of legislation that would ELIMINATE
401(k) plans and create as an alternative
a 'Guaranteed Retirement Account' for
every worker in the United States.

Under the plan,
Americans' existing 401(k) accounts
would be transferred into the 'Guaranteed
Retirement Account' and would grow at an
average yield of around 3%. . . .

In addition,
the GRA's would require
a mandatory 5% contribution
(tax) by all US workers.

"Like the current Social Security System,
which is failing and is expected to collapse
unless massive reforms are instituted, the
401(k) replacement program would give
no assurance of the protection of funds.

(The "Guaranteed Retirement Account"
would have no actual "guarantee".)

"The government,
just as with Social Security,
could essentially strip the plan
of assets and use those assets
within the general fund. . . .

This would be the largest loss
of wealth and seizure of public
assets in world history."

This plan-
first publicized two years ago-
is still moving forward.

Implications?

1. Governments at the local,
state and federal levels are going
bankrupt-and they know it.

2. Gov-co will do anything it can
to avoid admitting it's bankrupt.

3. "Anything" can include
causing hyper-inflation to reduce
existing debts and pension obligations,
tax increases, mass employee lays-offs,
pay reductions, seizing 401(k) and IRA
pension funds, and-eventually-
pension-plan defaults.
http://adask.wordpress.com/2010/09/12/ethical-questions-and-pension-wars/

A currency war is being waged ;

It's not new.
It's been going on for several generations.

That war is ultimately between
the forces of big government and
individual liberty.

All of us are caught in that war.
The primary weapon of big government
is fiat currency.

The primary weapons for liberty is are
1) the Bible and 2) gold or silver coin.

I'm not arguing that gold or silver will
make you free, but those specie-based
moneys will severely restrict the ability of
government to grow so large as to
place you in bondage.

Each of us,
whether we know it or not,
are soldiers in the currency war-
but soldiers for which side?

Insofar as you have confidence
in the fiat currencies and paper debt
instruments, you're a "soldier" fighting
for big government.

Insofar as you trust in God
and seek to store your wealth in gold,
you're a "soldier" for individual Liberty.

Choose you weapons wisely.

En garde!
http://adask.wordpress.com/2010/09/12/currency-wars-part-ii/