Many retirement, offshore and political experts including Jeff Berwick, Larry Grossman and others are now warning how government revenue needs and austerity measures by the Obama Administration today threaten the private retirement system and benefits of millions of successful Americans. Back on January 28, 2010 I wrote a report entitled "The Coming Obama Retirement Trap Has Started," published at LewRockwell.com, republished in its entirety below, for your review.
Over the last few weeks I've been inundated with emails similar to this one:
In early 2010 you wrote an article called "Are you ready for the coming Obama retirement trap?"
Now, I find an article from National Seniors Council that there was a recent hearing sponsored by the Treasury and the Labor Department that marked the beginning of the Obama Administration's effort to nationalize the nation's pension system and to eliminate private retirement accounts including IRA's and 401k plans.
What is your thinking on this? Should one, even with a large IRA, consider cashing it in or doing something to keep it out of harm's way? Your response is appreciated.