ALERT: U.S. Government Just Started Taking Money from Retirement Accounts to Pay the Bills… But Will Americans Be Made Whole?
On March 15, the federal government hit the debt ceiling (again).
But you probably didn’t hear much about it.
That’s because they’ve continued to spend money as if everything is normal… as if the debt ceiling has no impact on the government’s ability to spend.
How are they continuing to spend more money than they’re bringing in – without exceeding the debt limit? Simple…
They’re Taking Money Right Out of Retirement Accounts
This is not a joke. The government is getting around the debt ceiling by taking money directly from retirement accounts. And they’re doing it in 2 ways:
1. They are tapping into the Civil Service Retirement and Disability Fund and suspending investments into it.
2. They are halting daily reinvestment of the government securities G Fund – currently one of the most stable offerings in the Thrift Savings Plan (TSP).
These unilateral actions free up about $215 million in cash, which the government is now using to avoid disruptions in its services.
Of course, they’re obligated by law to repay the money they’re taking. But that can only be done if the debt ceiling is raised in October 2015. And with the federal debt now well past $18 trillion, that hardly seems like a sure thing.
Move Your Retirement Out of Cash by Doing This
The Message Is Clear: Government Services Are More Important than Your Retirement
In early 2014, Obama used an executive order to create MyRA accounts. These retirement plans are administered by the U.S. Treasury. So, by opening a MyRA, you’re actually turning your money over to the government.
In fact, MyRAs were created to mirror the G Fund from TSPs, thereby giving the public the same investment “opportunity” as federal employees.
There you have it… by creating the MyRA, Obama is funneling Americans’ savings into an asset that the government can access whenever it bumps up against the debt ceiling.
This is not speculation. As noted above, the Obama administration is ALREADY using retirement money to fund government spending that exceeds the debt limit.
Discover the Retirement Asset the Gov’t Likely Won’t Get Their Hands On
If the Government Is Raiding Retirement Accounts, Is Retirement Security Even Possible?
These developments are deeply troubling. Just how far will the government go? Right now, they’re raiding federal retirement accounts. Next, they’ve encouraged MORE Americans to put money in the G Fund, all via the MyRA.
Where does it stop?! Will paper assets in 401(k)’s and IRA’s be next?
As Washington dips into these accounts, is retirement security possible?
Well, if you rely on traditional retirement accounts, then maybe not. But there is another option to get back some of the security you want, need and deserve. Simply Open a Gold IRA Account through Birch Gold Group.
LOOK: Whenever the government is running amok… whenever there is financial uncertainty… it’s good to be holding gold. Historically, it is one of the single best ways to hedge your wealth and prevent losses.
Who knows what will happen to the money the government is taking out of retirement accounts? It might be gone forever. But you can act now to protect your wealth when you Get Your FREE Info Kit on Gold Here.
There is ZERO cost and ZERO obligation to you to get this Free Info Kit.
You’ll discover how Gold can protect you during times of uncertainty (like right now). And you’ll learn all about the IRS “Loophole” to legally move your IRA or 401(k) into real hold-in-your-hand precious metals.
This comprehensive, 16-Page “Insider’s” Kit reveals how Gold:
- Safeguards from a falling dollar (and greedy politicians),
- Protects in times of uncertainty, and
- Offers tremendous growth potential