The Politicians Want Your Money

As recently as Jan 25, 2010 the Obama Administration proposed Mandatory Retirement Plans. This is the first step towards nationalization and the forced investment of your retirement benefits. Though you may have heard little about these mandatory plans, they will force you to invest in government controlled retirement accounts to support the treasury debt market. As reported in BusinessWeek, these plans will draw opposition.

Why should you be concerned about the Mandatory IRA? By taking control of your retirement plan assets, the government is in essence confiscating your hard earned savings! Your retirement savings could be used to fulfill U.S. Treasury obligations. Unless you believe that Washington Politicians can manage your assets better than you, then now is the time to take control and protect your assets.

While government was meant to protect our nation, think of them as a parasite that feeds off of the people. This is the best description that I can give to describe their thirst for our tax dollars. Like a blood sucking mosquito, they pierce the skin almost unnoticed and then drain the life from us to support themselves.

Cleverly disguised as plans to help Americans save, these forced retirement plans will cause havoc on business and thrust our country into a financial meltdown. From hyperinflation to tax increases to tyranny, the risks involved are HUGE!

This is not an attempt to scare you. It is a fair warning from a concerned citizen. My intentions are to create awareness and motivate you to take action towards taking control of your personal assets. As a financial consultant it is my job and responsibility. I fear the control of U.S. retirement plans will ultimately lead to the confiscation of trillions of dollars in privately held assets.

More Warnings

On January 8, 2010, CNBC’s Rick Santelli, blew the horn about the possible nationalization and forced investment into treasuries. Bloomberg reported that the proposed plan may not be able to support itself. And on January 26, 2010, Fox Business News reported that the National Small Business Association (NSBA) stated that they are “opposed to any mandates that create a new and significant burden on small business.”

As far back as 1981, Ron Paul warned that language had been inserted into the 1981 Economic Recovery Act, Section 314(b) that ruled “collectibles” as not in the “public interest” and therefore prohibited from future retirement plan investments.

Hypocrisy At Its Finest

When our government takes billions in taxpayer money to “bailout” financial institutions like Merrill Lynch and Bank of America, are you not the least bit suspicious? And, when these same institutions advertise that you should invest with them, though they are technically bankrupt, does something seem wrong? They pay themselves outrageous bonuses, yet your account balances have lost billions.

Now that health care reform has been placed on the back burner, Washington Politicians have now focused their attention on more economic stimulus plans supposedly to boost employment. When will Americans learn that government cannot create jobs? Any so-called job creation by the government is only at the expense of private business. The net result is a loss of jobs as workers are pulled from one industry to another and businesses are forced to close.

How Mandatory Retirement Plans Will Work

You will be forced into another scheme, similar to Social Security, consisting of what is now being called a Guaranteed Retirement Account/Annuity (GRA). These plans will be funded by a proposed 5% of your salary. Eventually your existing retirement funds will be pushed into the government program. All of the details will be worked out along the way.

Currently, over $15 Trillion is invested in qualified retirement plans. Retirement savings make up more than 35% of all private assets and Congress has their eyes on this money. When you retire, taxes must be paid on withdrawals from these accounts. Politicians would like nothing more than to have access to these accounts now.

Teresa Ghilarducci is the author of the “Agenda for Shared Prosperity”. She became the Director of the Schwartz Center for Economic Policy at the New School for Social Research. Her plan is to confiscate the assets of the wealthiest Americans and redistribute them through government plans.

As outlined in the proposal, the government will make a contribution into every citizen’s account of approximately $600 annually, covering the unemployed and underemployed. The 5% contribution by “successful” Americans will go into a “guaranteed account” managed by the government, the same people managing Social Security.

The concern is that following the implementation of the GRA program, Congress would create future legislation to end tax deductions and tax benefits of all retirement plans therefore forcing the funds in these plans into the “professionally” managed GRA program. The other concern is that beneficiaries would be cheated out of any benefits left in IRA’s after the death of the participants. Ghilarducci’s plan calls for 50% of all balances remaining at death to be reverted to the federal government, not the beneficiaries.

What to Do

Since this is only a proposal at the time, it could be years before these changes take effect. However, since Congress already controls the rules for private retirement plans they can change the rules, just as they’ve done in the past. The good news is, you have time to protect your assets before this assault. But, don’t wait. Why would you put another dime into a qualified plan? Take an honest inventory of your assets and sit down to talk with your advisor soon. It’s your money, guard your wallet!

Barry Page, RFC is a Registered Financial Consultant and Licensed Insurance Agent. He is an advocate for families and small business, and publishes this blog and to promote financial intelligence.

Americans Reject Keynesian Economics

What is it that politician’s don’t understand? They seem to think that “we”, the taxpayers that pay their salary, don’t have a say in government. Well, it’s become abundantly clear that American’s are fed up with overspending.

In case you aren’t familiar with Keynesian Economics, created by John Maynard Keynes, the premise is basically “spend more” and “grow government” to improve the economy. On the contrary, at the time of Keynes, there was also Andrew Jackson’s philosophy of Laissez Faire Economics which complemented the Constitution and promoted smaller government.

Another popular economic theory is Austrian Economics, made popular by economist Ludwig von Mises, which focuses on free enterprise. Former U.S. Presidential Candidate, Ron Paul, also embraces Austrian Economics. Paul compares Keynesian Economics and Austrian Economics

More and more American’s are waking up to the abuse of power by politicians, and they are speaking up. TEA Parties and the 9/12 Project have helped everyday people to get involved and the movements are gaining popularity.

This report displays the distrust that Americans are feeling towards BIG Government:
Americans Reject Keynesian Economics

Stand Up for Your Rights!
Barry Page, RFC

Barry Page is a Registered Financial Consultant that studies economics and its’ impact on families and business. He is an advocate of free enterprise and teaches families how to control their finances and think independently. He publishes and this blog to promote financial intelligence.


Learn How To Create Your Own Family Banking System Using the Infinite Banking Concept™

Imagine recapturing all the money you normally pay for your car, and recapturing all the interest you paid if you financed it.  Imagine making the same profits as the banking institution that financed it.

Picture your “bank” expanding as you create a system for finance for your family.  See your branch banks growing as your family grows.

Infinite Banking teaches the process of using your current cash flow for finances versus traditional consumption of money methods.  By integrating protection and wealth accumulation one can enhance their assets without creating additional liabilities.

How does it work? Think of it this way, if you had your own grocery store would you buy groceries from a competitor’s store? If you owned your own bank, would you borrow money from a competitor’s bank? Most people agree that if you own a business, it makes sense to fully utilize that business and all its assets for not only your business but also for your personal needs. Yet that is not generally what happens especially when we make significant purchases such as cars, equipment, and homes.

By following some simple steps you can use available savings and cash flow to build your own “bank”. You can fnance things you buy through your own “bank” with loans from your “bank” to you. You then repay your “bank” exactly the same way as you would repay the financial institution you would use otherwise.  Building a system of banks increases your personal wealth.

Consider this, “we finance evetything that we buy.” We either pay interest or we give up earning interest.

Here’s the problem, the average American pays 34.5 cents of every disposable dollar to interest! And, we are not saving enough money. Currently the American savings rate is near its’ lowest in history, comparable to what it was during the Great Depression. Yet, most people are more concerned about earning interest than paying interest. Even if we were saving 10% of our income (the U.S. average is less than 3%), that would mean that our ratio of paying interest to saving is 3 to 1. Rather than fighting a head wind, wouldn’t it make more sense to create our own perpetual tailwind?

You can using the Infinite Banking Concept™. Though this concept has been around as long as the process of arbitrage, Nelson Nash was the first to explain in it in an easy to read book,
Becoming Your Own Banker™. The book details how anyone can create their own banking system using ordinary, dividend paying, whole-life insurance.

While the book has it’s skeptics, and some naysayers have even called it a scam, the process is undeniable. You will need a coach, preferrably a qualified life insurance agent that practices the Infinite Banking Concept™ themselves. Don’t expect to buy life insurance direct from the company, or ask the home office how the process works, they won’t know.

So, if you are tired of paying your hard earned money to the banks and financial institutions, and you want to recapture this interest and deposit it into your own bank, then read the book. You’ll learn the basics, see lots of examples of how you can use the concept, and understand what it means to be an “honest banker.”

You can purchase the book Becoming Your Own Banker™ here:

Stop Paying Interest and Start Earning Interest Now! The possibilities are infinite…
Until next time,
Barry Page, RFC

Barry Page is a Registered Financial Consultant and Infinite Banking Coach. He is a licensed life insurance agent and principal agent at Legacy Insurance Agency, PLLC. He publishes and