Obama To Unveil Treasury IRAs, Or Planning For A Post-Monetization World

[flowers]

http://www.zerohedge.com/news/2014-01-28/obama-unveil-treasury-ira-plans-or-planning-post-monetization-world

Wondering who will take over the mantle of Treasury bond buyer now that the Fed is stepping away? Curious of the government's next steps towards repression and control of wealth? Wait no longer. As the AP reports, President Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement. Of course, this is not the mandatory IRA that remains somewhat inevitable (as the muddle-through fails) but is certainly a step in the direction we alerted readers to a year ago by which the government generously offers to help manage your retirement savings. Two words spring to mind... remember Poland.

 

Via AP,

    Eager not to be limited by legislative gridlock, Obama is also expected to announce executive actions on job training, retirement security and help for the long-term unemployed in finding work.

     

    Among those actions is a new retirement savings plan geared toward workers whose employers don't currently offer such plans.

     

    The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into a traditional IRAs, according to two people who have discussed the proposal with the administration. Those people weren't authorized to discuss it ahead of the announcement and insisted on anonymity.

Of course, this is not what the CFPB suggested a year ago... We're sure the government is just trying to protect your retirement account from terrorists. From Bloomberg:

    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 and are interested in in terms of whether and 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,

I didn't know where to post business? Politics? so i posted here please move if need be. Thanks

[Chieftain]

As always, the devil is in the details and Obama is notorious for not providing any details for the "ideas" he puts forth.  He lies so much there is no reason to take this seriously either.

And the last entity my wife and I want managing our IRA is the US Gubment....