Good argument for the Government to use 401 K's to back the treasuries when they can't get funding (Obama, companies)
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“Help America Retirement Treasury Bond Program”— possible name to get your retirement money into the treasury progarm to help fund the 100 billion a week that the government is spending.
The flaw with your argument, (or the one in your link) is that they assume there are only 2 options
1) indefinite continuation of QE
2) requisition of private retirement accounts.
Sorry but my investment funds I earn far greater than the federal reserve is willing to pay, and much of that is indeed invested with the government.
Doing so would be very harmful to the market, limit investment capital, reduce the ability for companies to invest, reduce the number of employees in america, severly decrease bond investments, and I'll be damned if you talk me into putting all of my investments into one basket, even if it is the US Government..
Now that China, Japan and the other nations have no confidence that our government can pay it's massive debt without simply reducing the value of the dollars borrowed to zero, and American bond managers like PIMCO are also realizing they'd better get out NOW, I guess our government has only one choice: confiscate the retirement money of the American people.
The U.S. government stealing our 401k money would be one of the few things it could do to break us from our reality TV stupor and result in a call up of the National Guard.
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