Reports out of Washington indicate that new government retirement annuities may be promoted by Obama aides. The question every successful American with substantial retirement assets must ask is “what will you do if our retirement funds are forced to become the buyer of last resort for US treasury obligations?” Unless you believe Congress and Washington bureaucrats will do a fair job of allocating and distributing your personal retirement assets between yourself and others, you must begin now to protect your assets.

This plan is first and foremost a government revenue generator, but second a bailout of underfunded, mismanaged and corrupt union retirement plans.

Washington is on a desperate search for more revenue and a solution to the future financing of the trillions in national debt obligations currently held by foreign central banks and investors. Economists, politicians and smart investors know the dollar’s days as the world reserve currency are numbered, as is our ability to finance the national debt. Although the historical government solution to unsustainable government debt loads has always been the destruction of the debts by currency depreciation and eventual hyperinflation, there is always an intermediate step used to buy more time for the politicians in power. This action, usually side-stepped and downplayed by the establishment historians paid to hide the real facts of history, is wealth confiscation. Napoleon had it right when he stated, “History is a state of lies agreed upon.”

The largest source of liquid private wealth remaining in the United States is the $15 trillion in private retirement funds. The ultimate ownership, control and future of these funds has already been compromised and exchanged for the favorable tax treatment of private retirement plans. Congress writes the laws, so they can tax, penalize, hold your funds hostage and, although they’d never use the word “confiscate,” use your assets at their discretion. Make no mistake, the government need for current revenue and their frenzied search for liquidity to monetize their debt obligations is an unspoken quest of both political parties. The establishments of both political parties will do whatever it takes to stay in power, including the raiding and pillaging of your retirement funds.

The threat receded somewhat with the Bush Administration, but it is now back with a vengeance and the revenue needs of Washington will eventually trump any government promises and guarantees. You will be forced into another Social Security-like scheme with the proposed mandatory Government Guaranteed Retirement Annuity, with 5% of your salary confiscated into the program. You will also eventually find your existing retirement funds forced into the government program and you will lose your ability to invest and protect your retirement funds outside of the dollar, government bonds, and the US investment markets at some time in the future. The only questions are when and what the final details of this, the greatest potential wealth confiscation in the history of the world, will be. Conventional retirement “experts” and most Wall Street investment advisor types will not mention such a plan because they want to retain control of the fees and the commissions from your retirement accounts.  Washington always recommends what is in their best interest, as do most bankers and investment firms who just received billions in bailouts.

Can you appreciate the irony and hypocrisy of financial institutions like Merrill Lynch or the Bank of America, just to mention a few, who have so little respect for the American public that they can still advertise to manage your investments or even handle your day-to-day banking needs when both went technically bankrupt? They pay themselves outlandish bonuses, yet they only survive in business at all because of the billions in bailouts and guarantees paid for by you, the American taxpayers, and forced on you through the lobbyists they used to buy the bailout votes in Congress.

Bob Tonachio, CEO of Robert James & Associates, Inc. may be contacted. At 1-800-530-5700 His firm charges no fees for advice and consultations are always confidential and free of charge. www.robertjames.us