Government myRA Retirement Accounts – Uh-Oh! – Guest Post by Jack Puglis

The following is a Guest Post by Jack Puglis …


Government myRA Retirement Accounts – Uh-Oh!

I’ve been reading an increasing number of articles about the Obama Administration’s desire to take control of U.S. retirement accounts.  This has already been done in a significant number of other nations, taking various forms from conversion to government-sponsored accounts to partial seizure.


Many people have convinced themselves that it’s not possible.  However, our progressive government’s plan is in process now and each step is very important.


  1. The Obama Administration has Created the myRA Retirement Account


Obama’s myRA retirement accounts are now a reality

January 18, 2015


The article says this (among other things):

But unlike private Roth IRAs, myRAs will be invested solely in government bonds and will be backed by the U.S. government — meaning you can never lose your original investment. Plus, there will be no fees to eat into your annual returns.”


Government bonds?  Really?  China has liquidated more than $200 billion in U.S. Treasury bonds in the past few months.  This has been a contributor to bond prices dropping and corresponding upticks in interest rates.  China has also openly committed to continue divesting themselves of their remaining (approximately) 4.1 trillion in U.S. bonds.


That’s ominous for bondholders.  It means that over the next few years, we will do to bond holders as the value of their bonds drop.


Worse, the Fed has been reluctant to raise the interest rates, which now sit at near zero.  Although they have been making noise that implies that they’re considering a September rate rise, the (true) economy is in worse shape now than it was a year ago.  A rise in interest rates will harm a very fragile economy and increase the Treasury’s interest payouts (debt service) on its bonds.


Yet, the effect of China’s U.S. Treasury-purge program will have the same effect.  In effect, perhaps because of fluke of unfortunate timing, Obama’s myRA is driving people toward Treasury bonds, which will have a dropping value when the interest rates rise from the present absurd zero.  It’s immaterial whether this arises from the Treasury itself (raising rates) or the effect of China (and other nations, companies and individuals*) selling bonds.


  1. Another New IRA?


Why would the government institute the myRA when the present IRA / 401(k) system is working well?  Let’s take a look.


Obama Labor Dept. Sets Stage for Nationalizing Retirement Accounts

August 26, 2015


This article provided these key pieces of information.


  • In 2013, in a little-heralded case, the U.S. Court of Appeals for the Seventh Circuit rejected the Obama Labor Department’s attempt to punish voluntary retirement plan service providers. The DOL, under the direction of thecontroversial, radical leftist Tom Perez, had tried to force providers of 401(k), 403(b), IRA, and related services to adopt a massive new set of regulations known as “fiduciary” responsibilities.



  • Like Obamacare, the idea is to drive small- and mid-size service providers out of the retirement business by ensuring that the costs of complying with regulations are unaffordable.


The internet has dozens of articles on this subject, so it’s easy to research further and fact-find.  Keep in mind that this is true progressivism at work.  Remember that there is a huge difference between socialism and progressivism.  Obama is a progressive.


I recommend that you read both articles, since there’s some good depth in each.  If you doubt the possibility of our government taking control of retirement plans, I invite you to do your own research.


In doing so, however, be aware of the radical progressive news outlets and internet sites, such as the NY Times, the LA Times, the Washington Post,, The Huffington Post and others.  They tend to avoid, distract, dissemble, and soft-soap (propagandize) such information.


*Other nations will become highly motivated to reduce their holdings of their reserves of Treasury bonds, as will major companies, such as mutual fund providers, insurance firms and pension administrators.  Individual bondholders will be driven from the bond market as well.


Jack Puglis


“‘The strongest reason for people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.”

– Thomas Jefferson







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