SGM Metals: US Govt. Moving to Seize Private Retirement Accounts to "Protect Them"!

Feb. 11, 2013 - PRLog -- Bloomberg reports: [ The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

“That’s one of the things we’ve been exploring & are interested in in terms of whether & what authority we have” bureau director Richard Cordray said in an interview. He didn’t provide additional details.

The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, “may fall prey to financial scams”, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

The retirement savings business in the U.S. is dominated by a group of companies that handle record-keeping & management of investments in tax-advantaged vehicles like 401(k) plans & individual retirement accounts. The group includes Fidelity Investments, JPMorgan Chase & Co., Charles Schwab Corp., & T. Rowe Price Group Inc. Americans held $19.4 trillion in retirement assets as of Sept. 30, 2012, according to the Investment Company Institute, an industry association; about $3.5 trillion of that was in 401(k) plans.

The Securities & Exchange Commission & the Department of Labor are the main regulators of U.S. retirement savings vehicles & funds. However, the consumer bureau (established by the 2010 Dodd-Frank Act) sees itself as a potential catalyst for promoting a coherent policy across the government, the people said.

With large numbers of Americans heading toward retirement in the coming decade, the CFPB has referred internally to this concept as “the rollover moment,” the people said. “I could imagine the CFPB growing into a role on investment savings if it seems like the SEC is asleep at the wheel,” Calabria said in an interview.

The bureau could claim jurisdiction through its Office for Older Americans, which was established by Dodd-Frank with a mandate to improve financial literacy. It is run by Hubert H. Humphrey III, the former attorney general of Minnesota.]

For 3 years now this blog has been warning of the developing plans by the politicos to attempt to claim jurisdiction over the private retirement accounts of American citizens “during times of economic instability”. There have been no less than 7 different versions of this type of legislation (that I am aware of) that have been drafted with the intention of declaring “imminent domain” over the private investments of citizens in “unstable periods of economic activity”. I must ask the question, if there are such serious economic threats on the horizon that would require a govt who cant manage their own budgets & monetary affairs to step in & seize the lifesavings of every American & manage them from that point forth . . . . . why are we only hearing that the supposed recovery is gaining steam & better days are just around the corner? We are talking about a govt who again can’t come up with a budget for years now & have us at the supposed “fiscal cliff” thanks to their irresponsible management of the allocation of tax dollars for decades. A govt. who has mismanaged the social security fund to the point of bankruptcy & driven medi-care into the ground as well. Why would these people even dream of such an arrogant plan to take control of your retirement plans when they are known failures at financial management unless the alternative is far more dangerous to the American people? And what could that far worse alternative be?

Maybe we should take note of the fact that Q/4, 2012 ended with a negative GDP number (the economy went backwards, not forward) which was followed up within 24 hrs. with an announcement that unemployment has gone up yet again & in light of these two worst case economic indicators, somehow the DOW decided to not only go up but reach a 14,000 pt. record high not seen since Oct of 2007 at the peak of the housing bubble? In this exact same time period of illogical market highs, quietly in the background we discover that the US Mint has managed to sell practically 1/4 of all of 2012 record gold & silver eagle coin sales in the first 17 days of the new year alone . . . . coincidence? Do you really think the DOW can manage record high peak bubble numbers when the economy is going backwards & unemployment is rising again? Or is it more likely that the almost $50 TRILLION worth of new funny money the federal reserve has printed has devalued the purchasing power of the USD by practically 50%, therefor making the asking price for stocks twice what it was when the housing bubble collapsed which acted as the trigger mechanism to begin the money printing campaign to bailout the banks to begin with? Before you dismiss this theory because the nightly news tells you the “officials” say otherwise, consider the purchasing power of the dollar in relation to other items you are forced to acquire such as gas, food, clothing & energy to name a few. Have the prices of these staples not risen at a concerning rate?

Don’t get me wrong, we have not yet experienced the full impact of the total volume of dollars that have been created since the ‘Great Recession Global Currency War w/ China’ (actually the Great Depression 2.0) began, & I truly dread the day that we do, but at some point we have to be able to re-engage the critical thinking part of our brains that we have been trained to disengage as we are mesmerized by scripted product placement laden sitcom garbage which serves as modern day ‘Bread & Circus’ to distract us. If we cant re-engage the critical thinking parts of our brains, can we at least shoot for the common sense parts of our brains to be re-ignited?

Think about how many times you have thought, or said aloud, “If I only knew that was the peak of the housing bubble, I would have sold off my stocks & bonds at the top of the market & made a ton of money, If I only knew”?

Now ask yourself, how many of you will be saying the same thing in a couple months, “If I only knew that with a negative GDP, rising unemployment, rising food stamp dependency, record gold & silver bullion sales, Wall Street firms dumping all of their stocks & buying inflation proof commodities, JP Morgan buying up all the food production inventory, Goldman Sachs buying up 20% of the world’s copper supply & introducing the world’s first Copper ETF in anticipation of the commodity inflation play, the govt. making emergency plans to seize the nations private retirement accounts, a private central bank so desperate to keep their member banks afloat was willing to sidestep the democratic system that defines America & directly hand the banks $85 billion every month to cover up their imploding balance sheets . . . . I might have thought to sell some of my stocks when the market hit the last bubble popping point that sent the global economies into a tailspin, if I only knew”.

{For some reason, corporate insiders have chosen this moment to unload huge amounts of stock.  According to a CNN article, corporate insiders are now selling nine times more of their own shares than they are buying…

   Corporate insiders have one word for investors: SELL. Insiders were nine times more likely to sell shares of their companies than buy new ones last week, according to the Vickers Weekly Insider report by Argus Research.}

The definition of insanity is doing the same thing over & over, expecting a different outcome. Does the word insanity share something in common with your stock market investing strategies? The day of reckoning is coming when the consequences for all the reckless money printing will turn the world on its ear. I can only hope & pray that this blog will have served as a warning to those who have eyes to see & ears to hear. Establish your “Plan B” in physical gold & silver bullion just as every single Wall Street insider is doing as you are reading this.