Texas businessman and American Citizen Party 2016 Presidential candidate Bob McNeil is sounding the alarm about the Obama administration’s plans to finance trillion-dollar deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their investment accounts. This plan, first proposed in 2010, was advanced in 2012 anddiscussed further in President Obama’s recent State of the Union address.
According to McNeil, “This proposal has been carefully buried in plans to create what are known as “automatic IRAs”, which require employer groups to enroll all employees in 401(k) or IRAs. This would change America’s voluntary retirement plan into a government-mandated nationalized program. This very concept runs counter to the American principles of personal responsibility and self-determination and will give the government access and control over TRILLIONS of dollars viaevery worker’s retirement savings to confiscate whenever it chooses.”
While the idea of confiscating the retirement savings of workers may seem far-fetched, it is not without precedent. Here are a few examples of what happened to their citizens when these countries nationalized a portion of their private retirement accounts:
Argentina – 2008 – In a dramatic move to raise cash, Argentina forced the country’s privately managed pension funds to invest in government-issued debt. Shortly thereafter, the value of that debt was trading at 29 cents on the dollar, dashing the hopes of the investors that they would have any meaningful value at maturity.
Cyprus – 2013 – As a condition for being bailed out by the international bankers and the International Monetary Fund (IMF), the bankrupt government was ordered to raise 6 billion euros, which it did by confiscating 10% of the amount in ALL bank accounts.
Poland – 2013 – The bankrupt Polish government announced a decision to transfer to the government pension system, known as ZUS, all bond investments in privately owned pension funds within the state-guaranteed system. This move allowed the government to record the bond assets on the state balance sheet to offset public debt, providing a healthier balance sheet than before, which allows Poland to continue to borrow and spend, the very thing that brought them to the brink of disaster in the first place.
“Today, in America, confiscating the retirement savings becomes a more viable option as the Federal Reserve recently announced that it would implement a new policy to taper Quantitative Easing by buying $10 billion a month less in U.S. government debt every month this year until QE goes to zero. The economies of China and Japan, two of the largest purchasers of U.S. debt, are showing signs of weakness, which will eliminate them as potential buyers of debt. In this scenario, in order to finance future deficit spending, the government has to sell the trillions of dollars in Treasury debt that the Obama administration plans to issue, and the most likely place to get that money will be your IRA and 401(k). And, short of impeachment, there will be nothing you can do about it until the 2016 election,” warns McNeil.
American Citizen Party Candidate, 2016
Accountant, Former Internal Auditor and
Self-employed Business Consultant Responsible
for Multimillion Dollar Financial Reviews
U.S. Marine Corps, 1968-1974, Sergeant (E-5)
Proclamation of Freedom 2017
Economic Freedom Act
For More Information:
See Biography below
Bob McNeil BIOGRAPHY IN A LETTER TO AMERICA:
My name is Bob McNeil, founder of the American Citizen Party, and candidate for President of the United States in 2016.
I describe myself as “an ordinary man living an extraordinary life”.
- A professional business consultant with an accounting degree and 35 years of experience auditing multi-billion dollar corporations, here in the United States, and in a number of countries around the world.
- A veteran of the U.S. Marine Corps from 1968 through 1974.
- A father of two daughters.
- A grandfather of three beautiful children.
- A trusted friend to many.
I have been disillusioned with our two-party political system for quite a while now, but, rather than complain about it, I decided to do something about it.
So, using a lifetime of experience, plus the analytical skills I have acquired during my career as a professional auditor, I set out to write a plan that would spark the “21st Century American Revolution”.
Knowing the dangers of that exercise from the people in power, and to ensure its success, I established the following criteria for the plan:
- It must be constitutional;
- It must be peaceful;
- It must transcend race, religion, age, gender, political affiliation, economic status, and all other things that the politicians and the media use to divide us as a nation, and;
- It must restore liberty and prosperity to ALL American citizens.
In 2008, after one year of research and writing, I emerged with the plan. I formed the American Citizen Party in 2009 to serve as the platform from which to implement it, and have talked to millions of Americans about it in person, on the radio and in my blogs since then.
Now, it is time to go nationwide in order to build momentum for the 2014 election and my 2016 Presidential run.
If you yearn for liberty and prosperity like you’ve never before experienced, this is the political party you’ve been searching for.
Get involved. Sign up with your email address to receive my blogs. Contribute money to further the cause of liberty for yourself, your children, and future generations of Americans.
Together, we can, and we will, take back our country and restore it to its greatness.
The only way my plan will fail is if you continue to vote Democrats and Republicans into office, or worse, if you do nothing.
Take charge of your future. If you don’t, someone else will.
To learn more about Bob, click here: All About Bob
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