Quantcast

Future Clinton Treasury Secretary Announces Plan To Privatize Americans’ Retirement Savings

tresure-clinton

Tony James, Clinton’s top pick for Treasury Secretary and billionaire hedge fund manager, is promoting a plan to hand over Americans’ retirement savings to Wall Street. In other countries, similar plans have dramatically increased poverty and homelessness among the elderly.

By now, most Americans are aware of Hillary Clinton’s strong allegiance to Wall Street. However, many still remain unaware or unsure of how the financial industry’s influence would manifest in a potential Clinton administration. Look no further than the man named as Clinton’s most likely pick for Treasury Secretary, Tony James. James, whodeclined a position in Obama’s cabinet, is the President of the Blackstone Group, a multinational hedge fund and the largest alternative investment firm in the world, as well as a longtime Clinton donor and billionaire. Though James’ Wall Street background should be enough to concern a majority of Americans, it’s his plans for Americans’ retirement savings that should scare them.

James revealed his plan to “help millions of aging Americans” at a recent talk to the Center for American Progress, a liberal think-tank founded by none other than Clinton Campaign Chair John Podesta. The plan calls for hundreds of billions of dollars of retirement savings to be given to financial firms and hedge funds, such as Blackstone, who would pool the savings together and “invest” them in “higher, returning asset classes.” In other words, Americans’ retirement savings would be lumped together under Wall Street control, allowing them to gamble with the massive sum and make a killing from the bets. However, any “misplaced” bets would be the problem of everyday Americans invested in the system, not the hedge funds who made those bad bets.

tonyjamesblackstone

Tony James is a longtime Clinton donor and one of her biggest fundraisers. Here is pictured attending a conference on the Clinton Global Initiative. Credit – Bloomberg

When James was asked by Bloomberg news about the obvious conflict of interest he has in proposing the plan, he responded: “If this gets enacted, there are going to be thousands and thousands and thousands of asset managers that will benefit I suppose because more savings and more investment benefits all asset managers of every stripe.” The plan, in its current form, would generate roughly $300 billion a year for Wall Street firms in management fees alone. Though Clinton’s campaign has refused to comment on James’ plan, James himself has said that a Clinton win in November would make his plan a reality, whether or not he is chosen to serve as Treasury Secretary, as it has received “warm signals” from both top Democrats and Republicans.

Though US politicians can talk all they want about how many aging Americans will benefit from James’ plan, the verdict is already in as this plan has already been “tested” in another country. When the US backed a bloody coup in Chile, they ushered in one of South America’s most vicious dictatorships ever. However, the coup had another goal – neo-liberal economic experiments. Pinochet, at the US’ urging, employed American Economist Milton Friedman to personally train his economic team. This group of US-educated economists became known in Chile as the “Chicago Boys.” The Chicago Boys were given free reign to experiment with Friedman’s free-market economic philosophies on an unprecedented scale.

One of those experiments created the AFP, a privatized pension system, which continues today despite being extremely unpopular. The AFP system involves six private pension funds, which is run largely by foreign investment firms, including many Wall Street banks. Though the system originally promised to “help” aging Chileans, offering them pensions of 70% their wages upon retirement, the actual total now received by the average Chilean is more like 12-15%, a total significantly less than the minimum wage – around $236 per month. This has consigned many of Chile’s elderly to panhandling and homelessness while enriching those who manage the AFP pension funds. All of Chile’s AFP fund managers are multi-millionaires. Millions of Chileans have protested for years to end the corrupt system, which has contributed to the country’s record inequality, but have been unsuccessful. With Hillary Clinton at the helm, Americans will be able to look forward to similar future.

What are your thoughts? Please comment below and share this news!


This article (Future Clinton Treasury Secretary Announces Plan To Privatize Americans’ Retirement Savings) is free and open source. You have permission to republish this article under a Creative Commons license with attribution to the author and TrueActivist.com

Disclaimer: All information, data and material contained, presented, or provided on EyeOpening.info is for educational purposes only. It is not to be construed or intended as providing medical or legal advice. Decisions you make about your family's healthcare are important and should be made in consultation with a competent medical professional. We are not physicians and do not claim to be. Any views expressed here-in are not necessarily those held by EyeOpening.info

Advertisement

  • olde reb

    Congratulations,

    Your website has
    made the ProporNot top 200 list. I am envious of your acknowledged
    media influence of an action that is unacceptable to TPTB. Please
    accept this invitation to review a nefarious scheme that may have
    been overlooked.

    The unlawful acts
    of the TBTF banks and the IMF are becoming everyday occurrences. I
    believe the Federal Reserve has a role in thus matter that has been
    covered up for 100 years – as a source of funds embezzled from the
    US government. The embezzled funds are theorized to fund economic
    oppression of the third world. That trend is now moving up to
    Greece and Europe. Ref. GLOBALISM OF POVERTY by Michel Chossudovsky.
    Brazil, Argentina, and Philippines are being
    raped by Wall Street and are resisting. Ref.
    http://www.informationclearinghouse.info/article45783.htm
    The trend toward poverty has been documented to
    be an agenda promoted by Wall Street that utilizes government
    assistance. Ref. CONFESSIONS OF ECONOMIC HIT MAN by John Perkins.
    Wall Street funded the development of the CIA to thwart government
    actions. Ref. DEVIL’S CHESSBOARD by David Talbot.

    The rape of
    Greece using nefarious means by Wall Street financiers backed by
    United States muscle is beyond parallel. Ref.
    http://www.paulcraigroberts.org/2016/05/25/we-have-entered-the-looting-stage-of-capitalism-paul-craig-roberts/.
    The ultimate objective of collecting on
    the US $19 trillion debt has been discovered
    on internal memos according to Greg Palast.
    Ref.
    http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/.
    A lengthy
    history of the CIA altering
    government / presidential courses of action has
    been documented. Ref.
    https://www.scribd.com/doc/49566880/CIA-ROGUE-AGENCY-RUN-AMUCK

    The scheme has
    been analyzed and I pass it on to you for your consideration and
    comments. If you know of someone that would be interested in the
    writing, feel free to forward it.

    *******************

    CAN THE FEDERAL
    RESERVE CLAIM SOVEREIGN IMMUNITY ?

    The
    twelve Federal Reserve Banks have been adjudicated to be privately
    owned corporations and are not government entities—they can sue and
    be sued. They have additionally been identified as franchisees of the
    Federal Reserve with administrative and regulatory authority vested
    in the Board of Governors of the Federal Reserve (BOG). Commercial
    banks purchase non-transferable shares of regional FR Banks for the
    privilege of benefits received from the system. The BOG can terminate
    any director of any FR bank without cause and without recourse. The
    FR banks are, with the exception of the FR Bank of New York, not
    relevant to this article.

    The
    Board of Governors touts itself as a government agency. It is created
    by Title 12, sections 241 to 252 and makes a pretense of complying
    with FOIA requests. Some employees receive pay checks from the US
    Treasury while other employees receive paychecks drawn on the Federal
    Reserve system.

    The
    Supreme Court has identified parameters of a government agency. An
    agency is subject to
    Congressional oversight into the daily
    operation of an agency. The “absen(ce of) extensive, detailed, and
    virtually day-to-day supervision” is not compatible with agency
    status. Ref. Forsham v Harris, 445 US 169, 180 (1980). The alternate
    status is that of a government contractor which does not carry
    sovereign immunity.

    In
    addition, agencies are created for the purpose of initiating and
    organizing a service to the public. The creation of a body for the
    fiscal profit of its creators is a perversion of agency status.

    Has
    the Federal Reserve been created with an ulterior motive, of perhaps
    hidden profit, that is not readily visible to an observer ? Let us
    make a review how the Federal Reserve and the government create book
    entry money.

    ONE:
    The FRBNY will establish a line of credit for the government (book
    entry money) when they receive a deficit Treasury security in the
    amount of the line of credit.

    TWO:
    The deficit security is sold as a declared small percentage (about
    ten percent) on the auctioned roll-over securities (bills, bonds, or
    notes). The FRBNY handles all of the accounts and disbursements. Ref.
    31 CFR 375.3. The accounts are client accounts (not operational
    accounts) and have never been audited. Audits of the FR are conducted
    according to guidelines established by the BOG and these accounts are
    excluded.

    THREE:
    Funds from auctioning the deficit security issues (currently $1 to 2
    trillion annually; up to $6 billion daily) cannot go to the
    government. If they did, they would have to buy the securities just
    issued since securities in the market have not been purchased. Under
    those circumstances, there would be no increase in the money in
    circulation (inflation) nor would there be any increase in the
    national debt. The money from the auction must go somewhere but it
    cannot go to the government.

    FOUR:
    The only feasible destination for the funds is to members of the
    Primary Dealers who are tasked with collecting called and redeemed
    Treasury securities. As hidden owners of the corporate Board of
    Governors, they can receive deficit spending profit along with funds
    for the roll-over security work. Privately owned corporations are not
    required to file records with the SEC. The structure of the BOG
    readily lends itself to a corporate structure; the FR system does
    not.

    The
    owners have put up no consideration for receiving $3
    to $6 billion
    daily, even though it is touted as a loan. (If the non-existing loan
    was being paid off by the hidden money, it would then result is
    eliminating any increase in the National Debt. In addition, who, or
    what, is the source of the putative loan is never mentioned, and it
    is obvious the Fed does not have the value in advance of receiving
    the security.

    FIVE:
    Profit of the Federal Reserve is stipulated in its charter to legally
    belong to the government. Hiding money that belongs to the government
    is a crime.

    It
    is a fallacy to suggest the Treasury Department handles the auctions
    of Treasury securities. The FRBNY has exclusive handling of the
    approximate $10 trillion annual disbursements of the accounts and
    that authority is expanded by implementation in all possible manners.
    Ref 31 USC 375.3. The Treasury has a mere cameo role.

    Additional
    misleading and deliberately confusing diatribe on how the government
    “borrows” from the Fed has been disseminated by Dan
    Sanchez. Nowhere does he identify where the
    illusionary “borrowed” funds existed before they were created.
    Nor is there any logic of the Federal Reserve purchasing Washingtons
    and Franklins for pennies each from the Treasury and then loaning (?)
    them to the government. It should be noted Dan is a frequent writer
    for the Federal Reserve Bank of Philadelphia; i.e., he works for the
    wizard behind the curtain.

    Conclusion:
    It is the conclusion of this writer that the Federal Reserve
    Board of Governors is a privately held corporation owned by select
    Primary Dealers operating as government contractors without sovereign
    immunity. The PD/owners receive the value of government deficit
    spending through the FRBNY’s exclusive control of the auction
    accounts of Treasury securities. The concealed money constitutes
    profit of the Fed that legally belongs to the government. These funds
    are received in addition to the $8-9 trillion annually received from
    their task of handling redeemed securities. Embezzlement and hiding
    money from the government are only two of the applicable crimes.

    Additional reading:

    A
    mathematical analysis of the Feds Ponzi scheme revealing the inherent
    systems collapse,
    http://www.scribd.com/doc/48194264/rip-off-by-the-Federal-Reserve-revised.

    Projected
    use of the embezzled funds.
    https://www.scribd.com/document/115919607/FUNDING-THE-NEW-WORLD-ORDER.

    The
    CIA was created with funding from Wall Street to thwart unacceptable
    government actions. Ref. DEVILS CHESSBOARD by David Talbot.
    Successful use to that end is limitless. Ref.
    https://www.scribd.com/doc/49566880/CIA-ROGUE-AGENCY-RUN-AMUCK

    .

    Feel
    free to distribute to any interested parties.