Reports over the last couple years have suggested that the U.S. government would move to seize traditional 401k and IRA retirement accounts by rolling them into a government managed Guaranteed Retirement Account, or GRA. For the most part, save in alternative media circles, the reports have been dismissed as nothing more than an “idea” floating around.
But the bill has reportedly already been written and last Thursday, October 7, 2010, Congress held a recess hearing on the matter. The push to bailout union pensions and give more control of individual wealth to the U.S. government is underway.
via WHAT REALLY HAPPENED
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