As Americans read about Europe seizing the personal retirement accounts of its citizens, they tend to think, surely that can’t happen in America! But the fact is, such a move has already been considered.
The countries in Europe who have begun at least partially seizing retirement accounts have either asked for an EU bailout or they may be doing so in the future. In Greece, pensions were frozen and there were cuts to vacation time demanded from the EU as part of the exchange for their bailout. In Ireland, www.foxnews.com reported back in November that Ireland’s federal government would confiscate 17.5 billion euros from pension reserves, transferring that wealth, or “transferunion” as many Europeans call it, to “help fill the gap in its government finances.”
More recently, on Monday www.csmonitor.com named off several other countries that are making such moves: Belgium, Poland, Hungry and France. It also reported that some European governments are confiscating personal savings.
It was back in January when this Examiner mentioned that since America’s primary lender, China, is getting nervous about the future of the US dollar, Washington is searching frantically for a way to show them the money. And the private retirement accounts of “We the People” are looking pretty convincing. According to a www.wnd.com article, The Labor and Treasury Departments have been working toward drafting federal regulations which “would ‘promote’ the conversion of 401(k) and IRA accounts to annuities. Make no mistake here: Obama is after your retirement money. The ‘annuities’ will ‘invest’ not in the familiar packages of bond and stock mutual funds, but in the Treasury debt!”
In a nutshell, each 401(k) and IRA would be confiscated (wealth transfer, or transferunion) to pay down the national debt. And yes, if there’s anything left when those who own the accounts finally retire, it will still be taxed again. Basically, double taxation. So when will Washington start leading by example and surrendering their retirement accounts, stop taking pay raises while the rest of us either take pay cuts or get laid off, and start living on the same income amount as middle America and redistributing the remaining wealth which they got from the taxes of “We the People” in the first place?
To make matters even more interesting, the Fox article also noted that, EU officials say they have also agreed on a permanent mechanism that would allow a country to restructure its debts after 2013 once it has been deemed insolvent” (emphasis added). A brief reminder here that 2013 is when the Wall Street Reform legislation is supposed to kick in for America as Congress debates whether or not to raise the debt ceiling in order to cover just over 14 trillion of national debt.
Meanwhile, www.wsj.com reported on Monday that Governors in 26 states are warning of more economic turmoil and a week job market as they begin to take office and figure out how to deal with major budget deficits, as www.rasmussenreports.com stated on Tuesday that it has found that 87 percent of Americans are very concerned about the economy. Not only has this hit the number one spot in a list of top 10 concerns for 2011, but it’s the highest percentage expressing such deep concern about the economy in two years.
Something such as a major earthquake (or a series of them) along the New Madrid and Nemaha fault lines has the potential to be just the convenient crisis needed to further devastate the dollar, which is presently a main component standing in the way of a one world monetary system which will be part of the New World Order / One World system mentioned in Bible prophecy.
It’s been interesting to note that there were more bird deaths – this time in the Paducah, Kentucky area. Kentucky has several fault lines, and the New Madrid is a major one that runs through the area according to an article at www.uky.edu. Other U.S. areas that have experienced the plague of dead birds or fish include Pointe Coupee Parish, Louisiana and Chesapeake Bay, Maryland. Though these are not particularly close to the New Madrid or Nemaha fault lines, when the major earthquake along the New Madrid struck in the early 1800s, there were areas as much as about 300 miles away that felt the shaking.
