Supreme Court ruling sets the stage for "economic totalitarianism"
Economist Martin Armstrong warns that a Supreme Court ruling last week has set the stage for the federal government to begin seizing private pension funds.
According to Armstrong, the outcome of Tibble v. Edison, which found that employers have a duty to protect their workers’ 401(k) plans from mutual funds that perform poorly, will grease the skids for the feds to seize private funds and prosecute companies who manage mutual funds badly.
“Between the court ruling and the Obama administration’s push for stronger fiduciary rules,” the developments send a, “strong message that government can much easier seize the pension fund management industry of course to “protect the consumer,” writes Armstrong, warning that the ruling, “sets the stage to JUSTIFY government seizure of private pension funds to protect pensioners,” when the economy gets “messy”.
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3 comments:
ARMED agents of our government took SIX BILLION (!!) dollars worth of money and property from American citizens (!!) last year alone.
Without charges or trial. Six billion. No charges, no trial.
Read that again.
Now, someone is upset that they may take THEIR 401(k) money??? Why don't you start telling us (again) how "if you're not doing anything wrong, don't worry"???
When your "leaders" and their army took things from OTHER PEOPLE, your stocks and investments looked great and you didn't worry about anyone's "rights" --- they probably got what they "deserved", in your
opinion. Now, however, it's YOUR turn to get some things "taken".
Too late to cry and whine now.
Why don't you tell them you weren't doing anything wrong? Show 'em your swastika and torch. Tell them you've always been a supporter!!
Keep cheering!
i'm sure the government will look after our 401k's with the same fidelity that they do with our social security. so what's the problem?
The plan is coming together. Couple this with TPP and the call to outlaw cash and you'll see the future.
Leaked chapters of TPP reveal totally absurd banking revisions that fall right into the goosestep of these SC rulings.
Guns, gold & ammo.
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