Obama salivating over $19.4 trillion in U.S. savings

On the heels of our recent post Pay attention: Cyprus gov’t raids 60% of private accounts, we have even more alarming news much closer to home. There is a concerted effort playing out within the Obama administration to separate Americans from their hard-earned savings

This May 2010 article in Human Events titled Republicans Sound Alarm on Administration Plan to Seize 401(k)s, provides important background, including a letter sent to the secretaries of the U.S. Treasury and the Department of Labor by over a dozen Republican members of Congress, including House Speaker John Boehner, expressing “our strong opposition to any proposal to eliminate or federalize private-sector defined contribution pension plans, such as 401(k)s, or impose burdensome new requirements upon the businesses, large and small, who choose to offer these plans to their employees.”

Author Connie Hair writes, “Now the backdoor bulls-eye is on your 401(k) plan and the trillions of dollars the government would control through seizure, regulation and federal disbursement of mandatory retirement accounts. Boehner and the group are sounding the alarm, warning bureaucrats to keep their hands off of America’s private retirement plans.”

January 2013 even Bloomberg reported that 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.

Government thieves masquerading as nannies are knocking loudly on our doors reminding us of Ronald Reagan’s legendary maxim: “The nine most terrifying words in the English language are, I’m from the government and I’m here to help.”

This article, The Feds Want Your Retirement Accounts, written by John White was published just last month in American Thinker. It begins with these unsettling words, “Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs.”

The world has just witnessed the outrageous actions of the government of Cyprus as it seized the bank accounts of its citizens in order to fund their massive debt.  As we stated yesterday, “Think it can’t happen here? We are seeing the future in Europe. Obama has been laying the groundwork for such a power grab as he demonizes the wealthy and encourages class warfare — while continuing to spend over $11 billion a day and saddling Americans with nearly $17 trillion in debt, with no end in sight.”

We urge you to read the linked articles in Human Events, American Thinker and the Bloomberg report. You owe it to yourself and your family.

Knowledge is power.

H/T Commenter euby

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29 Responses to Obama salivating over $19.4 trillion in U.S. savings

  1. eubykdisop says:

    Thanks for the H/T, SRAZ, and thank you for featuring this story. The information is out there but most people don’t know anything about it because of the Liberal, disingenuous nature of the mainstream media.

    What I find interesting is that you point out in the article that we have almost $17 trillion in debt and that there is about $19.4 trillion in private savings. Are we so naïve that we think that Obama, Democrats and “New World Order” Republicans will keep their hands off of our savings? Not a chance! The ONLY reason why it isn’t already done is that Democrats lost control of the House. Otherwise, it would already be a done deal!

    • Seeing Red AZ says:

      Unfortunately, you are likely correct in your assessment. This is crucial information for the American people, but it appears few are aware of the wide-ranging scope of the seriousness of this situation. Thank you, euby, for the heads up.

      We believe this is among the most important items we have ever posted on Seeing Red AZ. We also agree with Villanova and Dennis O’Brien that we erred in posting it today — on a holiday, when fewer people would see it. Because of that, it will remain our first post for Monday morning.

      • eubykdisop says:

        You are most welcome, SRAZ, and I have infinite appreciation of the service you are performing by helping to make this known. It does, in fact, constitute service to your fellow man.

        This has come to the fore at Easter. Many are the ways in which God and Jesus Christ help us and bless us. We need but the eyes to see it.

  2. LEO IN TSN says:

    The groundwork has long been laid for the seizure of private American money. A stealth provision of the stealth obamaocare bill (“We have to pass it to find out what’s in it”) gave the obamao czardom access to all American bank and financial accounts. By his own executive order, aided by several insane pieces of legislation, obamao has secured the power to seize the financial sector for “national security.”

    Since his first immaculation four years ago, obamao has hired an average of 107 new federal employees every day, seven days a week, 365 days a year (through Nov ’12). With all of his smokescreen about sequester furloughing Border Patrol officers along the border, his federal hiring has accelerated if anything. He is expanding, as rapidly as possible, this huge class of government-dependent dependents, and Congress does nothing. There is a lot of bluster and posturing about “trimming entitlements” but they do nothing about his expansion of government, by funding it for him with the incessant train of Continuing Spending Resolutions. They don’t even acknowledge the hiring, and they do nothing to stop him. He has to pay for all of this, and he has US and our savings in his crosshairs. .

    If this Congress doesn’t abandon amnesty for illegals and start taking back the government, we are doomed. (Have you heard anything from the AZ4 lately – or at all?)

    God bless America.

    • eubykdisop says:

      We are never “doomed”, Leo, precisely because God does bless America! Our nation has gone through difficult times in the past and will, no doubt, go through difficult times in the future but because God exists, we are never doomed!

  3. Villanova says:

    This is likely the most important information I’ve read concerning our bleak future under this socialist president. It’s a shame SRAZ chose to run this on a holiday when people are too busy to check blogs. I’m definitely sending this link out to my entire list. I’ve never done such a thing, but I firmly believe this post is that important.

    Barack Hussein Obama is clearly an ardent believer in redistribution of wealth, and can keep spending because he is finding ways to get at the private money citizen investors thought was secure. Wake up, people! We are in for a ride into a buzz saw that will turn all of our lives upside down and shred our futures.

    Here Obama says, “I actually believe in redistribution….at least at a certain level to make sure everybody’s got a shot.”

    Here Obama tells Bill O’Reilly that wealth redistribution is showing “neighborliness.” This guy is frightening.

    • Dennis O'Brien says:

      SRAZ,
      Please consider running this post again when more people will see it. I agree that a holiday weekend was not the best choice for maximum exposure of this serious issue. I just read it and read the three links. My stomach is churning. This is not something to sweep aside as rumor or an issue blown out of proportion. When numerous members of congress address it in a letter of concern to the brass of two cabinet level offices and Michael Bloomberg’s typically leftward skewed news takes on this issue, there is more than smoke. There is obvious evidence of a fast approaching full blown fire. I’m following the lead of Villanova and sending this link out to many friends, family and business associates. In view of what we’re seeing in the EU, this becomes even more urgent.

      I view myself as being well informed, and this has flown completely under my radar. I imagine the same must be true for many other Americans.

      This is the link to include in your emails. Do it today. Tomorrow you’ll be too busy and this is crucial information:
      http://seeingredaz.wordpress.com/2013/03/31/obama-salivating-over-19-4-trillion-in-u-s-savings/

  4. eubykdisop says:

    “Perry, Some Lawmakers Want State’s Gold Back in Texas”

    “by Emily Ramshaw and Aman Batheja
    March 21, 2013″

    “Call it the Rick Perry gold rush: The governor wants to bring the state’s gold reserves back from a New York vault to Texas.”

    “Rather, a depository would give the state a reputation as being more financially secure in the event of a national or international financial crisis.”

    “For us to have our own gold, a lot of the runs on the bank and those types of things, they happen because people are worried that there’s nothing there to back it up,” Capriglione said. “So I think this cures a problem before it can happen.”

    http://www.texastribune.org/2013/03/21/perry-some-lawmakers-want-states-gold-back-texas

    Some Texas legislators clearly know what Obama has up his sleeve and while they don’t want to shout “Fire!”, and shake everyone up, they don’t want to be left without a chair to sit on when the music stops!

    • Pima Pal says:

      I wish Gov. Perry and the Texas legislature the best of luck, but I don’t see success in this venture. There are many who have little faith that there is actually sufficient gold in Fort Knox to back the dollars that the feds keep printing. I have no doubt Obama seeks to bring the USA to its knees. He began the first term of his presidency with an global apology tour, in which he was remorseful for this blessed nation’s successes.

      • eubykdisop says:

        It doesn’t matter, Pima Pal, whether Texas gets their gold or not. The point is that we see yet another manifestation of concern over our national financial future, one in which terms like “runs on the banks” are being used. Where there is smoke, there’s fire!

  5. eubykdisop says:

    “Social Security Checks Will Stop Coming Via Mail March 1″

    “The Huffington Post | By Catherine New”
    “01/09/2013″

    “Your Social Security check will no longer come via snail mail starting March 1.”

    “In less than two months, the government will stop sending paper checks for Social Security, disability and other benefits in an effort to cut costs. Instead, the Treasury Department will distribute funds electronically, either via direct deposit or on a prepaid “Direct Express” card.”

    http://www.huffingtonpost.com/2013/01/09/social-security-checks-mail-march-1_n_2439300.html

    In short, to get your Social Security benefit check, or any other federal benefit payment, you MUST either have an account with a bank OR a “Direct Express” card. What is a “Direct Express” card?

    “About the Direct Express® Card”

    “The Direct Express® Debit MasterCard® card – issued by Comerica Bank as the Treasury Department’s financial agent – is a prepaid debit card and electronic payment option for federal benefits. The card is a Treasury-recommended, safe, convenient alternative to paper checks.”

    So, what’s the game here?

    By law, Obama has to pay out Social Security and other federal government benefits. He can’t get around that. Any change would have to come from Congress. BUT, he CAN issue an executive order regarding what happens to your money once it has technically been paid to you!

    So, for example, your benefits go to the bank… and THEN Obama takes the funds in your bank account just as was done in Cyprus! Get it? You don’t have a check you can cash. You have a deposit directly into a bank account, an account which Obama can seize!

    As regards the “Direct Express” card, the money gets credited to your “Direct Express” card account, You have technically been paid in full. But THEN Obama can seize as much as he wants from your account once you have technically been paid!

  6. patriotmom says:

    I don’t doubt that Nobama will try something like this- and I don’t doubt the response from Americans. No wonder Napolitano is loading up on bullets. Cyprians might sit still for this, Americans never will. Watch Hollyweird have a complete meltdown over a trick like this.

    Let the clown try- it will be the permanent end of the Democratic Party in this country.

    • eubykdisop says:

      If Obama does this, patriotmom, there won’t be any political parties in this country!

    • Capt. Marvel says:

      As to such action signaling the permanent end of the Democrat Party, I say from your lips to God’s ears, patriotmom. Still I believe the Hollyweird (great description!) crowd is so bonded to Obama, they will find a way to justify his power grabs. I imagine few of them are vested in 401(k) or IRA plans, so this confiscation won’t touch them. Liberals can justify any egregious acts by their political darlings, especially if it affects someone other than them.

      They’ll figure the “little people’ will need distractions from their desperate situations and will still go to the movies. During the Great Depression in the 1930‘s, the motion picture industry was one of the few to thrive. People flocked to films in search of escape from their difficult and seemingly hopeless lives. Musicals and comedies did especially well, but so did dramas that focused the viewer’s attention elsewhere for a couple of hours. Movie tickets were very cheap and no one had televisions.

      • patriotmom says:

        Don’t forget that, during the 30’s and 40’s, Hollyweird was conservative and patriotic. That has all changed. There are so many other outlets for entertainment other than movies and people will not support any group that is identified with a power grab of such magnitude.

  7. eubykdisop says:

    You can take your money out of the bank BUT it isn’t going to be easy and Obama will immediately know what you are doing!

    “Reports”

    “If you withdraw more than $10,000 of cash from your account within a 24-hour period, a bank employee must complete a Large Currency Transaction Report. It can take several minutes to complete the report, and you must provide personal information such as your Social Security number and basic information about the purpose of the withdrawal. The bank has to send the completed report to the Internal Revenue Service. The IRS uses these reports to help monitor terrorism and money-laundering activities. If you refuse to answer the banker’s questions, then you cannot complete the withdrawal.”

    http://www.ehow.com/info_8567183_rules-cash-amounts-personal-account.html

    “Following passage of the Bank Secrecy Act (BSA) of 1970, banks are required by law, to report transactions exceeding $10,000 to the IRS and sometimes other government agencies or law enforcement.”

    Like maybe Napolitano’s DHS which has purchased over 2 BILLION rounds of hollow point ammunition and whose agencies are NOT subject to the limitations imposed on the military with regards to operations within U. S. borders?

    Furthermore, a bank can delay giving you your money for seven days!

    “The bank is required by law to complete a Currency Transaction Report, and if this is an interest bearing account you are making the withdrawal from, your bank can actually require a 7-day advance notice of withdrawal. This was disclosed in your original documentation/contract. It is rarely enforced, but is required by law to be in your agreement.”

    http://www.bankingquestions.com/savingsaccounts/q_cashlimits.html

    This has been planned out and carefully thought out for decades. If enough people begin to move their money, and Obama will know about that immediately because of the reporting requirements, he’ll simply move up the agenda and issue one of his executive orders right away to keep people from escaping the net! With the bank able to delay giving you your money for seven days, on many accounts, he’ll have up to a week to assess and make his decision.

  8. eubykdisop says:

    It is practical for the mind to divide things into discrete issues so that we can focus on them individually. However, nothing in this world or in this universe exists in isolation. The truth is that everything is interconnected.

    It will do us little good to focus on economics while ignoring things like abortion and the preservation of marriage. Why? Because morality is not made of discrete segments, it is a unified whole. What affects one aspect affects all aspects.

    This is why the “social values” aspect of Conservatism is so important to preserve. Is it rational to expect prosperity in the midst of moral apathy or immorality? No, it is not!

    All forms of abundance have their origins in God. If we hope to have the blessings of material prosperity than we need to be supportive of the Supreme Will across the board, in all aspects. Failure to attend to “social values” issues will invariably lead to a lack of material abundance. It cannot be otherwise.

  9. LEO IN TSN says:

    Obamao has his plans solidly in place for his financial takeover. Obamao, by executive order and with the help of several insane pieces of legislation, has given himself the power to take over the country (martial law). He is well prepared to take over the financial community and simultaneously stifle any dissent. He has created a huge loyal dependent following in his federal hiring and his welfare giveaways to big city police departments and lemmings. All he need do is throw the switch.

    When he shuts down the power grids, our water will stop flowing, our lights and AC units will go off, the gas pumps that fill our vehicles will stop. When he shuts down the refineries, transportation stops. The grocery store shelves will be empty in a day. TSA and the rest of the Obamao civilian police will be manning armored checkpoints on the highways to stop rebels, and armored tanks to keep the city streets clear. When he shuts off the airwaves, civilian communication stops. He has these powers, thanks to a complicit apathetic Congress, and he has been choreographing his plans (45 Czars – 2.2 Billion rounds of ammo – 7000 military-grade assault rifles – 2,700 tanks) since his first immaculation. Where is Congress?? Ask our AZ4 – burn up their telephones. We can not just continue to wait.

    What we need now are patriots within the infrastructure who will keep the lights on, the gas pumps working, the airwaves open and the water flowing while being defended by the patriots with guns & ammo. Talk to everyone you know about our need to keep the Country up and running, and be mindful of the need to mobilize in defense of our freedoms. A well-armed patriot crouched in his dry & darkened home will be effective for about 4 days. An effective Minute Man Militia MUST be able to maintain the delivery of goods and services to all citizens in defense of our Country.

    God bless America.

    • Matt DeGennaro says:

      These are terrifying possibilities that appear increasingly likely. Leo. I have never been a “doom and gloomer,” but under the current circumstances, not taking steps regarding preparedness is reckless. Costco and other warehouse stores are doing a booming business selling canisters of emergency foods and generators for a reason. People are arming themselves and purchasing gold and silver since the dollar becomes more valueless with each passing day.

  10. Kent says:

    It’s April 1st, April Fools Day, a day set aside for foolishness, jokes and slick trickery. I can only assume that’s what this Rasmussen Report is dealing in when its latest polling shows that 66% of Americans oppose Cyprus bailout plan to tax its citizen’s bank deposits, which the officials have seized and raided. The only conclusion to be drawn from that absurdity is that 34% of Americans approve of this confiscation of savings???

    We are in for a world of hurt when American citizens are this ignorant.

    http://www.rasmussenreports.com/public_content/business/general_business/march_2013/66_oppose_cyprus_bailout_plan_to_tax_bank_deposits

    • eubykdisop says:

      “Number of Americans with No Savings is Growing”

      “The survey revealed that of the 2,151 Americans surveyed in November 2010, 34 percent have no retirement savings and 27 percent are without personal savings.”

      http://www.gobankingrates.com/retirement/one-third-americans-no-retirement-personal-savings/

      Isn’t it interesting, Kent, that 34% of Americans have no retirement savings and 34% of Americans, according to your post, approve of the confiscation of savings!

      Those who have nothing have nothing to lose, and everything to gain, in a confiscation scheme. That is what the redistribution of wealth is all about; take from the haves and give to the have nots!

      It’s Socialism, if not outright Communism. The idea behind Capitalism, get what you earn, is eradicated. The government becomes the breast at which we suckle, providing us with the milk of life depending upon how well we remain in line with the official ideology.

  11. Westnash says:

    With the recent Bankruptcy of Stockton as well as other California cities I think we will now see many more say “no way” to the huge amount of debt dangling over their head and the unrealistic pay and benefit packages made to their current and former employees. It is a tragedy that so many Americans did not save enough for retirement but that those who were on the public dole for so long are coming out better than the others and continuing to see theirs increase.

    What Elected official will have the guts to come out and say “no more, no way?”

    • eubykdisop says:

      ROFL! Trying to sound “Conservative” again, Westnash? Sorry, but your comments prove you to be a Liberal DEMOCRAT, LOL!

      Westnash on gun control:

      “Westnash says:
      January 8, 2013 at 8:00 am
      There will be some changes in gun regulations at some point in 2013 and the Republicans who only tow the NRA line of “no” will lose. Wouldn’t you rather outsmart your opponent than trying unsuccessfully in throwing up a wall, that is crumbling down around you.”

      “Westnash says:
      December 23, 2012 at 12:39 pm
      LaPierre’s interview on Meet the Press today just shows a lack of political awareness on his part. Every hunting shotgun has a limit on shells…there is no place for large clips and no place for Gun Shows to sell on terms different than a retail gun shop.”

      Westnash on military spending:

      “Westnash says:
      February 14, 2013 at 10:17 am
      I would propose an immediate 10% cut in all military expenditures including salaries. All of us can get by on 9 out of 10…..the govt. can as well…it is nothing but would make a huge dent in the problem.”

      Westnash on border security:

      “Westnash says:
      February 18, 2013 at 3:35 pm
      What I worry that the Secure Our Borders bunch really wants is to spend Billions more in hiring and fences which do nothing but increase the size of Govt.”

      Westnash on Sheriff Joe Arpaio:

      “Westnash says:
      March 1, 2013 at 9:06 am
      Interesting that when you have someone like Joe who continues to hang on…you have a real vacuum behind them. Their ego just wont let them develop a successor. Joe should retire soon and develop a strong successor…but I am afraid hubris has set in long ago.”

      Westnash on education:

      “Westnash says:
      March 12, 2013 at 8:36 am
      I would be in favor of Arizona requiring Spanish (for legal students of course).”

      Liberal DEMOCRAT positions across the board!

      Guess what, Westy, that makes you a Liberal DEMOCRAT!

      Have a nice day, Westy!

      • Westnash says:

        Euby posting on the poster and not the thread, once again.

      • eubykdisop says:

        You are a Liberal DEMOCRAT attempting to pass yourself off as a Conservative in a Conservative blog, Westnash, for the express purposes of disseminating Liberal DEMOCRAT propaganda and sowing seeds of dissension among Conservatives. Exposing you for what you are, through verbatim quotes of your stated positions, is quite legitimate in a Conservative blog. SRAZ is not about facilitating deception.

  12. Westnash says:

    Term Limits for all elected officials!

    • eubykdisop says:

      Being a Liberal DEMOCRAT, of course you support term limits, Westnash, LOL! The 2000 DEMOCRAT vice presidential nominee supports term limits so, naturally, you support term limits!

      “Lieberman urges term limits for senators in exit interview”

      “By Justin Sink – 12/17/12″

      “Retiring Sen. Joe Lieberman (I-Conn.) said in an interview that aired Sunday he favored both term limits for senators and replacing the Electoral College with a national popular vote.”

      “Lieberman, who was the Democratic vice presidential nominee in 2000, also said he would like to see the Electoral College eliminated. In that race, he and former Vice President Al Gore won the popular vote, but George W. Bush captured more electoral votes.”

      http://thehill.com/video/senate/273197-lieberman-urges-term-limits-for-senators-in-exit-interview

      Have a nice day, Westy! :-)

  13. BPaluch777@aol.com says:

    So, what to do? bernard

    • Attila The Hunny says:

      Bernard,
      I would never presume to give financial advice, since that’s not my area of expertise. I can tell you what I’m doing. I’ve bought some gold in the past, but its currently priced too high for my tastes. I’ve converted to buying bag silver — dimes and quarters that are 90% silver. If the dollar loses purchasing power, smaller currency that holds its value is always a good bet. We might need to trade for food and other basics. Money is drawing very little interest and the seizure of personal bank accounts in Cyprus should give us all reason to reevaluate. Invest in a good safe. In our household we keep plenty of bottled water on hand, along with canned goods. We continually rotate, using while replacing with new, dating all of the products. A minimum of 4 weeks supply of food and water per person is just being prudent. We’ve done this for years. Keep batteries and matches. If you need specific medications, ask your doctor to add some extra doses to your usual prescription quantity. Keep extra large packs of toilet paper, Band-Aids, peroxide, and Neosporin antiseptic ointment on hand.

      These are just a few tips. You’ll think of others that are more specific to your needs. Best of luck, Bernard! We’re all in this together.

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