Feds Eyeing Private Money, but for what?


Inquiring minds are looking at how the Feds are eyeing private money for financing the debt. From what seems like a scene in a movie where the US Fiscal policy appears headed toward policy like Argentina’s:

The federal government is refusing to confirm it wants to create new “Retirement Bonds” to be purchased — mandatorily — with the assets in private Individual Retirement Account and 401(k) programs, but it appears to be moving that direction.

Treasury officials declined to rule out the possibility of creating R-Bonds as they confirmed a joint hearing scheduled with Treasury Department and Department of Labor officials in September will explore the “lifetime income option” for Americans using their retirement accounts.

WND reported last week that the U.S. Department of Labor released an agenda for a joint hearing Sept. 14-15 on whether government life-time annuity options funded by U.S. Treasury debt should be required for private retirement accounts including IRAs and 401(k) plans.

This is getting rather serious, don’t you think?

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