February 23, 2010

The Honorable Barack H. Obama
President of the United States
The White House CMRR: 7005 1820 0000 3258 0393
1600 Pennsylvania Avenue
Washington, DC 20500

Dear Mr. President:

On page one of the February, 2010 issue of Lee Bellinger’s “Independent Living”, we are treated to the following warning: “A brazen new money grab is gaining steam in Washington: nationalization of 401(k)s and IRAs. Treasury officials and President Barack Obama’s other big spenders are lusting after investors’ retirement assets, talking up schemes to cajole- and ultimately force – Americans to lend their money to the federal government for ‘safe-keeping’”.

In a sales flyer for the Sovereign Society, John Pugsley claims that: “Washington has crippled our country with debt. And now they’re making plans to fill that black hole…by nationalizing your retirement savings!” Mr. Pugsley was warning us about the danger of derivatives long before the recent financial meltdown. His warning about the derivatives and the devastating effect that they would have on our investments was correct. Now, he feels that the government is planning to confiscate what remains of our post-meltdown retirement savings. Could he be correct again?

Government confiscation of our IRAs would be a financial death panel for seniors. It’s bad enough that the value of the dollar is in a downward trend and that Social Security and Medicare are both, like the United States Government, technically bankrupt. For seniors, what is left of our 401(k)s and IRAs represents financial survival for our few remaining years – especially if Social Security and Medicare end up like everything else the government manages.

The money was invested according to government rules to specifically shelter it from the government. Now, based upon the written words of Messrs. Bellinger and Pugsley, the government is planning to take our savings, anyway. It’s not fair.

I realize that honoring commitments is difficult for all of us. It would be a good thing, however, if you could put our minds at ease by issuing a statement in regard to the government’s intentions concerning our retirement savings. Seniors want to be assured that our government will not “cajole – and ultimately force – Americans to lend their money to the federal government”.

If you attempt to confiscate our retirement savings, history will recall you as the Toyota President: imported and dangerous. Please don’t.

Respectfully,





William J. Madden
Useless Eater

Problem is, we'll always have people doing that.

FUCK! My fork doesn't have a warning label either.... who can I get a lawsuit against!?!

Scratch stick fork into electrical outlet... bad. idea. darn