MyRA is Obama's new government controlled honey trap Roth IRA plan. Essentially, you pay taxes on the savings now and then don't pay taxes on the earnings you won't make because of the coming market crash. The limits are pushed up from $6500 to $15000. Yep, the old 401k scam is running out of steam because boomers are retiring and drawing cash out of the markets, NOT putting more cash in. Nobody wants to put more money into a government controlled trap!
The minute you go to collect it you will find all sorts of what are essentially capital controls. They will change the rules with the stroke of a pen so that you will have to wait until 71 until you can start getting your own money back. And there is always the real threat that the funds will be nationalized "for your own good in volatile markets". In other words, the markets will crash and then government will mandate that a certain portion be placed into "safe" (HA!!) government debt. This is how they plan to steal from the people, just like other governments are doing in 3rd world nations today.
Smart people will not fall for it. Smart people will reject any Trojan horse that government offers. When government was pushing all young women to have to take a cervical cancer vaccine under threat of law, I was telling family and friends to push back with all their strength because nothing the government gives you is worth having.
Now, it seems, the individuals who created of that vaccine are coming clean. In short, the risks of taking it are higher than the threat that it was supposed to be directed towards and everyone involved knew it. In addition, the risk of catching HPV was very low to start with. So it was all a big money making scam game between big pharma and big government. Well, you know that big government would not do this without big bribes and other compensation. So get the notion out of your head that ANYTHING the government says is honest and you will do just fine. And that includes Obama's new honey trap for his soon to be collapsing stock markets. Your best friend for long term retirement saving was, is and always will be to buy physical bullion coins of large denomination (1 ozt) and hold them yourself.
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The Fed wants to taper its government debt buying program, AKA QE. But since the Fed has been practically the only buyer of government debt for the last couple of years, the government needs to find new patsies, ahem, investors in government debt, as the major foreign buyers have decreased their interest in such scam, ahem, investment and are unlikely to make up for the Fed.
Since America hasn't been a republic for the last century, it's up to its anointed president to relieve his banking masters by resorting to what all kings have done for centuries: send the bill to the populace.
The myRa is going to be backed by government debt. Every remaining worker will be automatically registered and relieved of $25 per period unless he declines it, what most misinformed voters, ahem, laborers will fail to do, thereby becoming unwilling suckers, ahem, investors in government debt. Never mind that the principal of and the interest on such debt will be paid by the taxpayer himself.
So, here we have it: America is no different from a 3rd world country. Alas, neither are the UK and France, years ahead of the US forcing their peoples to finance their profligacy.
I wager that mandatory contributions to myRA will become a reality by 2017. It'll be rushed through with bipartisan support and the SCOTUS will deem it the bee's knees, much like Obamacare.
I dare any American claim to have never seen this coming, for the Founding Fathers left plenty of warnings against the usurpation of power.
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