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| GWashingtonFan... |
 Posted: Sun Aug 23, 2009 7:52 pm |
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Breaking News — Fed to Steal State Pension Funds
By Nancy Matthis
Saturday, August 22nd, 2009
(see breaking August 23rd update below)
Congress may confiscate every state pension fund into the bankrupt
social security system. Indications that this strategy is being
discussed in Washington have come in to us from several sources over
the last few days.
Tonight, a correspondent who has just come home from a Tea Party
Townhall Meeting in Salado, Texas with US Representative John Carter
(R-Round Rock) issued the warning. She said, “Representative Carter
informed the crowd that talk has been bandied about Congress to
appropriate every state’s pension plans into the bankrupt Social
Security System.” She is absolutely 100% sure that she understood him
correctly.
Dear readers, please understand that we are bloggers, and not
professional journalists. Our information comes from ordinary folk who
do the best they can to understand the political scene. Ordinarily,
this would seem so outrageous that we would wait to share the news
until we could get more clarification. But the current administration
has moved with such breathtaking swiftness to federalize private assets
and plunge our country into socialism, that we feel the need to sound
the alarm, just in case.
We’ll keep updating this post as we find out more.
It’s Not a New Idea
From the Friday, January 29, 1993 issue of the Washington Post we have
this article (archived by the Seattle Times) — Budget Cuts Vs. Social
Security — Tap Pension Funds Worth $4 Trillion, Panel Tells Clinton —
Employers Sense Danger ‘Once They Get Taste Of This’:
A bipartisan government commission yesterday recommended to the Clinton
administration that it launch an aggressive effort to tap the
retirement funds of millions of Americans to help pay for rebuilding
the nation’s roads, bridges and highways and give the economy a lift.
President Clinton has indicated past support for the concept, which
would represent an unprecedented effort by the federal government to
deal with its budget woes by turning to the more than $4 trillion in
cash, stocks and other investments held by pension funds.
Some opponents in the pension industry, who worry about protecting
retirees, said they fear Congress might revoke the generous tax
treatment afforded pensions if they actively oppose the initiative.
The recommendations by the congressionally chartered Infrastructure
Investment Commission, which has had the strong support of Senate
Finance Committee Chairman Daniel Patrick Moynihan, D-N.Y., include
establishing the National Infrastructure Corp. It would be a new
government-sponsored corporation that would encourage at least $30
billion in investment by pension funds. Several billion dollars in seed
money for the new corporation would come from a new energy tax now
under consideration.
Energy tax. Sound familiar?
And two people who watched the Democratic convention in 1996 said:
I was absolutely horrified to hear the Democrats propose at their
convention that the government should take money out of private pension
funds to sink into yet more federal programs.
The Democrats have already raided the Social Security fund to pay for
their unending government spending. We do not need them ruining our
pension funds the same way!
This is another Democrat scheme to take even more of our money without
having to face public opposition to tax increases. We already have to
work over four months a year just to pay the taxes on our wages - we
should not have to sacrifice our pensions, too!
Vote against the Democrats and Clinton while you still have money in
your pension fund, or you may not have any pension fund left when you
retire.
The Argentine government seized control of the private pension funds in
that country last fall. At that time the Telegraph considered the
possibility that other countries would follow suit — Argentina seizes
pension funds to pay debts. Who’s next?, October 21st, 2008:
Here is a warning to us all. The Argentine state is taking control of
the country’s privately-managed pension funds in a drastic move to
raise cash.
Should we worry about our pensions?
It is a foretaste of what may happen across the world as governments
discover that tax revenue, and discover that the bond markets are
unwilling to plug the gap. The G7 states are already acquiring an
unhealthy taste for the arbitrary seizure of private property….
10:19PM Full Metal Patriot — Congress is planning to raid EVERY
state’s pension funds to prop up Social Security. This blogger has done
some background research, and reminds us of earlier attempts to
“redirect” retirement assets:
This rumor definitely caught my attention. After doing a little
investigation, it looks like it’s entirely true. Last year, House
Democrats were contemplating abolishing 401(k) tax breaks and
redirecting those funds into a new system of government-controlled
retirement accounts to which all workers would be forced to contribute.
And more information about the Democrats’ immoral plans to ransack
every American’s personal retirement has been reported on CNN, The Wall
Street Journal, and Carolina Journal. Now that they control both houses
of Congress and have a big-government socialist in the White House, it
looks as though Democrats are ramping up their machinations.
Update August 23, 9:13AM: A reader sends this link, possible reason
for the federal government to get into a fight with the states; from
the Financial Times — Pension funds back buy-out fight over bank deals:
A coalition of large US state pension funds has backed the private
equity industry’s opposition to new rules on takeovers of troubled
lenders, saying the plan would have a “chilling effect” on attempts to
revive the country’s banking system.
The warning by funds from states including New York, New Jersey and
Oregon, which manage billions of dollars on behalf of public workers
and are big investors in private equity, will strengthen the buy-out
industry’s lobbying against the proposed measures….
http://frontpage.americandaughter.com/index.php
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What Would America's Founders Say?
The two enemies of the people are criminals and government, so
let us tie the second down with the chains of the Constitution so
the second will not become the legalized version of the first.
-- Thomas Jefferson
Those who hammer their guns into plows will plow for those who do not.
--Thomas Jefferson
It does not take a majority to prevail ... but rather an irate,
tireless minority, keen on setting brushfires of freedom in the
minds of men.
--Samuel Adams
The strongest reason for the people to retain the right to
keep and bear arms is, as a last resort, to protect themselves
against tyranny in government.
-- Thomas Jefferson
A free people ought not only to be armed and disciplined, but
they should have sufficient arms and ammunition to maintain a
status of independence from any who might attempt to abuse them,
which would include their own government."
-- George Washington
No free man shall ever be debarred the use of arms.
-- Thomas Jefferson
If the freedom of speech is taken away then dumb and
silent we may be led, like sheep, to the slaughter.
-- George Washington
When governments fear the people there is liberty.
When the people fear the government there is tyranny.
-- Thomas Jefferson
Oppressors can tyrannize only when they achieve a
standing army, an enslaved press, and a disarmed
populace.
-- James Madison
If the representatives of the people betray their constituents,
there is then no resource left but in the exertion of that
original right of self-defense which is paramount to all positive
forms of government ... The citizens must rush tumultuously to
arms, without concert, without system, without resource;
except in their courage and despair ...
The natural strength of the people in a large community, in
proportion to the artificial strength of the government, is greater
than in a small ... the people, without exaggeration, may be said
to be entirely the masters of their own fate.
-- Alexander Hamilton
We in America do not have government by the majority.
We have government by the majority who participate.
-- Thomas Jefferson
All tyranny needs to gain a foothold is for people of good
conscience to remain silent.
-- Thomas Jefferson
Every government degenerates when trusted to the rulers of
the people alone. The people themselves are its only safe
depositories.
-- Thomas Jefferson
As our enemies have found we can reason like men, so now
let us show them we can fight like men also.
-- Thomas Jefferson
Do you want to know who you are? Don't ask. Act! Action will
delineate and define you.
-- Thomas Jefferson
Merchants have no country. The mere spot they stand on
does not constitute so strong an attachment as that from which
they draw their gains.
-- Thomas Jefferson
I hope we shall crush in its birth the aristocracy of our monied
corporations which dare already to challenge our government to
a trial by strength, and bid defiance to the laws of our country.
-- Thomas Jefferson
I believe that banking institutions are more dangerous to our
liberties than standing armies.
-- Thomas Jefferson
Experience hath shewn, that even under the best forms of government
those entrusted with power have, in time, and by slow operations,
perverted it into tyranny.
-- Thomas Jefferson
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