Empty Out Your 401k
With two months still to go before his inauguration, the Obama camp is already preparing the American public to give up their 401k retirement accounts.
Obama's socialist ally, President Cristina Fernandez de Kirchner of Argentina, just announced that her government would confiscate $30 billion dollars in private retirement funds held by Argentinian citizens.
The Argentinian government has ruined their nations economy with economic policies based upon the redistribution of wealth, government bureaucracy, and strong labor unions. These are also three key points of Barack Obama's economic plans for the United States.
Congressional Democrats are looking at plans drawn up by leftist activist Teresa Ghilarducci to confiscate all money stored by Americans in 401k plans. Ghilarducci's plan would give all of the funds to the federal government, which would then treat the funds as part of the governments nationalized retirement program. In addition, all citizens would be forced to contribute 5% of their income to this new nationalized retirement plan.
This latest move follows Obama advisor Michael Pfleger's statement that white Americans must give up their 401k's. That statement was quickly buried by the mainstream media after video of it was published on YouTube.
Under ordinary circumstances it would be enough for thousands of Americans to contact their Congressmen and tell them to stop this legalized theft. Unfortunately, the new Democratic majority in Congress is intent on using their new power to grow the federal bureaucracy. They are unlikely to care about the views of their powerless constituents.
Instead, the only safe path left for ordinary Americans is for us to empty out our 401k retirement accounts. We can then invest the money into objects of real value, such as real estate and precious metals. With inflation rates set to double or triple in the next two years, we must be careful not to hold portions of our financial assets in cash or cash equivalents.
The next few years will be extremely challenging for all Americans. Only by acting now can we protect our retirements and our childrens futures.
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Jamal Washington is a writer for Liberty, Restore Habeas Corpus, and People's Democracy..
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