I was reading through post about IRAs etc & then saw this in my inbox & thought some of it might be of interest to some of you. This was addendum to investment letter I receive. And keep in mind this guy is selling something even though it is only $39. and you can cancel in 4 mo. & get $26 of that back. But there are some things could be of interest or worth investigating. If I can post this in a couple installments. fwiw
Why thousands of U.S. citizens
above age 55 are worried about
The U.S. Gov't has begun enforcing a little-known new law. It could affect your retirement income... Your healthcare benefits... Even your ability to travel and purchase gold.
Here's the full story on what this law means for you... And steps you must take now to protect yourself...
Hello. My name is Dr. David Eifrig.
I'm a 52-year-old medical doctor, ex-Wall St. trader, and small-business owner from Minnesota.
I have created this presentation because over the past 12 months I have been tracking the details of a disturbing new U.S. government law.
If you are retired or close to retirement, as I am, this law could have a devastating impact on your health...
Your business, if you have one...
Your retirement income...
Even how and where you travel.
The Wall Street Journal calls it America's "biggest transformation... in decades." The law "reshapes one-sixth of the U.S. economy."
Journalist Mark Steyn, who writes for The Atlantic Monthly and National Review, says:
The law "redefines the relationship between the citizen and the state in fundamental ways... Nobody has ever attempted [something like this] for an advanced society of 300 million people."
You may have seen "experts" discuss parts of this law on TV. You may have read about it in the mainstream press.
But I bet not 1 in 1,000 folks fully understands what it could mean for them.
That's because buried in the law's more than 3,000 pages are little-known provisions that could have a huge impact on your life and mine.
For example... one of the provisions gives the federal government greater ability to dip into the value of any 401(k) or pension benefits you draw over the next 10 years.
One source says you may have to fork over 8.2% per year.
Another provision gives the Feds the authority to potentially control how much you spend on cancer or heart treatment... and what types of drugs you can use.
And this is just a snapshot.
I call these provisions "Capps' Law." I'll explain why in a minute.
Quite simply, "Capps' Law" is a collection of seemingly small but dangerous new retirement provisions.
Lawmakers have snuck some of them into several big, multibillion-dollar bills over the past 3 years.
Almost no one has read these bills fully... Which is why most folks have no clue what's about to hit them.
You see, parts of this law are contained in President Obama's healthcare act.
Other provisions were created by the $787 billion "stimulus bill" passed in 2009... And the $700 billion financial bailout pushed forward by President Bush in 2008.
Put together, these provisions could change your retirement in ways you never planned for.
Unfortunately, a major part of the damage has already been done. Many of these provisions are already law.
Most people didn't challenge it... Because they simply didn't know what was hidden in thousands of pages of 'bureaucratese.'
House Democratic leader Nancy Pelosi summed up the attitude of Washington politicians when she told reporters: "We have to pass the bill so that you can find out what's in it."
The Feds began enforcing some of the provisions in "Capps' Law" starting Jan. 1, 2011. Other provisions go into effect in 2013 and 2014.
But in the next few minutes, I want to show you why it's not too late to protect yourself from some of the effects of this law.
There are some specific steps you should take now... Particularly if you are retired or close to retirement.
But first, let me explain exactly what's happening...
Washington's new agenda
Since the beginning of the financial crisis in 2008, there has been a dangerous trend growing within our nation's capital.
The people who are part of this trend are influential lawmakers, policy wonks, and some of the wealthiest citizens of our country... Republicans and Democrats alike.
In short, these folks have a new agenda for how they think America's economy and the lives of its citizens – our lives – should be run.
Put simply, over the past 3 years, these politicians have snuck in a number of devastating provisions into big multibillion-dollar bills.
For example, one of the provisions (which goes into effect in 2013) allows the government to confiscate nearly $4 out of every $100 of investment income many Americans will make... Including capital gains, dividends, interest, annuities, royalties, or rents.
Keep in mind: This "fee" is on top of all the taxes you already pay.
Another provision the Feds plan to enforce in the next 18 months could place a new tax on your health...
If you undergo diabetes testing... Joint replacement surgery... MRI and CT scans... Or if you need pacemakers or stents, you could be subject to a new tax.
The government plans to raise $2 BILLION a year through this provision.
On their face, these provisions are supposed to "help" America get back on its feet.
But as I'll show you in the next few minutes... I believe they will have the exact opposite effect. Especially if you are retired or thinking of retiring in the next few years.
I call this collection of provisions "Capps' Law"... After a Democrat lawmaker named Lois Capps, of California's 23rd Congressional District.
Few people know that Congresswoman Capps voted for almost every single one of these new provisions.
The irony is, in 2006, capitol hill staffers voted her the "nicest member of Congress." She is also a member of a Congressional group that describe themselves as "moderate and pro-growth." She supports free trade... energy independence... and women's rights.
In other words, to most people, Capps does not seem to be part of the radical right or the radical left.
But the truth is, every one of these new provisions Rep. Capps voted for could have a shocking impact on your retirement.
Some of these provisions are already in effect. Others could impact you within the next 18 months.
If you don't act now, a small group of politicians in Washington will almost certainly slash your standard of living... Before you even know what's happening.
Just take a look at what I call:
"Capps' Provision 5-I"
You may recall, in February 2009, Congress passed the "Stimulus Bill."
It cost American taxpayers nearly $800 billion. The money was given to various city, state, and federal government projects...
Such as $1.5 million to the city of Shreveport, Louisiana, to spruce up a housing complex... even as they consider tearing it down. (Source: Federal Audit Report)
And thousands of dollars to the National Park Service (NPS) to upgrade Marion Park, a popular dog destination on Capitol Hill in Washington, DC.
My point is, while Congress made a show of doling out billions of dollars in taxpayer funds to supposedly "stimulate" the economy...
...Something else was going on that almost no one paid attention to at the time.
Quite simply, Congresswoman Lois Capps and 304 of her colleagues (301 Democrats and 3 Republicans) created what I call "Capps' Provision 5-I."
In short, this provision gives an arm of the federal government (known as the Federal Reserve) greater ability to dip into the value of your 401(k) or pension fund over the next 10 years.
How much can the Federal Reserve legally take?
The provision doesn't give an exact number... Which I think is frightening.
A Wells Fargo Economic Forecast puts the number at 3.4% in 2012.
But according to Dr. Sanford Pinna, who has written for Barron's and the Financial Times, it could be as much as 8.2%.
I personally think the conservative estimate is more likely.
So let's say you have $100,000 in your 401(k) or pension fund. Here's what your money will look like if just 3.4% of your retirement income is taken from you every year, for the next 10 years...
Right now In 1 Year In 2 Years In 5 Years In 10 Years
$100,000 $96,711 $93,531 $84,605 $71,580
But if the Federal Reserve ends up taking 8% per year, the consequences could be disastrous. Take a look...
Right now In 1 Year In 2 Years In 5 Years In 10 Years
$100,000 $92,593 $85,734 $68,058 $46,319
The value of your retirement savings could be slashed by more than half.
In a CNBC interview, Mohamed El-Erian, co-CEO of PIMCO, the world's largest bond fund, called the government's actions "Financial Repression."
Legendary investor Jim Rogers put it even more bluntly:
"What's happening in Washington now is destroying the class of people who save and invest. Think of all the people who saved their money over the past twenty years, put their money in the bank expecting to live off the interest in their retirement... They are getting wiped out."
The bottom line is, the federal government now has greater Congressional power to control a large chunk of your savings, whenever they need to.
And the bad news is, that's not the only provision Washington politicians have devised to control your retirement...
For example, here's another provision you should know about. It could destroy your health over the next few years (and quite possibly kill you) unless you take precautions now...
"Capps' Provision 148-H"
President Obama signed the healthcare bill into law in March 2010. Democrats cheered. Republicans vowed to repeal it.
But most folks failed to notice an outrageous retirement provision Congress quietly snuck into the bill.
In short, what I call "Capps' Provision 148-H" mandates the creation of a 15-member Commission.
The purpose of this Commission?
To help regulate how many doctors we need... How much they should earn... Where they should work... And what kinds of treatment they should or should not give you.
Many of my fellow physicians and I agree: This new Commission is an outrage.
Dr. Jason Fodeman, a Connecticut internist and former fellow at the Heritage Foundation, put it this way: This change is "bad for doctors, awful for patients."
Let me show you why by telling you a story from England, where a similar Commission already exists...
Linda O'Boyle was 64 when she discovered she had colon cancer.
Like most cancer patients, she was determined to fight it. She wanted to live longer to see her four grandchildren grow up.
She went through six weeks of chemotherapy. But when the cancer spread to her stomach lining, there was only one drug that could extend her life.
It cost $6,000 a month. The Commission denied payment. It was not "cost effective."
Mrs. O'Boyle decided to pay out of pocket.
"When she heard there was something that could extend her life, of course my wife jumped at it," her husband Brian said. "We were quite happy to pay for the drug..."
But the Commission wouldn't allow it.
Because the Commission believes in giving "equal" treatment to everyone. And since most people cannot afford $6,000 cancer drugs, Mrs. O'Boyle couldn't take advantage of it either.
Without the drug, Linda O'Boyle didn't survive long.
This is a true story. The UK Daily Mail reported on it.
You see, Britain has a health commission similar to what Lois Capps and her colleagues created in America.
Ironically enough, it's called NICE. It stands for the National Institute for Health and Clinical Excellence.
The bureaucrats at NICE determine what types of treatment doctors should provide... And at what cost.
To do this, they use a complicated mathematical formula called "quality adjusted life year." According to a Galen Institute report, with this formula, the maximum doctors are allowed to spend to prolong your life by six months is around $22,000.
And if certain drugs – like the cancer drug Linda O'Boyle needed – are too expensive... they simply ban them from being used.
In other words, in this system, you don't decide what's best for you. It's decided by a government committee.
I believe if you are retired, you could see the same kind of rationing over the next few years, thanks to "Capps' Provision 148-H."
Why do I say that?
Quite simply, President Obama has just appointed a man named Dr. Donald Berwick to run Medicare.
Here's what Dr. Berwick had to say about NICE:
In a 2009 interview with journal Biotechnology Health Care, he said NICE has "developed very good and very disciplined, scientifically grounded [models] from which we ought to learn."
In other words, the top man looking out for your health thinks rationing is 'scientifically grounded.'
And if rationed care weren't bad enough... With these new regulations, more and more doctors are opting out of the government-controlled health system.
A 2009 Investor's Business Daily poll found that 4 out every 9 doctors "would consider leaving their practice or taking an early retirement" under the new law.
In other words, seniors will not only have to deal with rationed care... but also fewer doctors to give you care.
As Thomas Saving and John Goodman for the Wall Street Journal recently reported:
"[The new law] almost certainly means that seniors will have difficulty finding doctors who will see them and hospitals who will admit them."
As a result, be prepared for long waiting times at doctors' offices.
My brother, a practicing physician, tells me he's already seeing 20% more patients in a day than he used to. And he's not the only one.
The bad news is, this healthcare provision is already in effect. The 15-member Commission has been appointed by the President.
President Obama, Nancy Pelosi, Lois Capps, and their colleagues in power must truly believe controlling your healthcare spending and retirement savings will help ease America's economic problems.
According to their way of thinking, the State knows best how to manage your resources... Because unlike individuals in a free marketplace, the government is unaffected by "rampant greed."
But this is nonsense. The way I see it, "Capps' Law" erodes the most important freedom we enjoy in America: The freedom of choice.
I can tell you right now, not 1 in 1,000 Americans fully understands the various sneaky provisions that are part of "Capps' Law."
Nor are they prepared for its consequences.
But if you are at all concerned about Washington's interference in your life, there are some simple steps you can take right now to protect yourself.
You don't have to let the do-gooders in Washington take control of your retirement or your health. You have a choice... If you act now.
In a minute, I'll explain what I believe you should do right now to avoid some of the effects of "Capps' Law."
But first, let me tell you a bit more about myself... And explain exactly why I put together this presentation...
America is broken
As I mentioned earlier, my name is Dr. David Eifrig.
The reason I have spent a lot of time studying recent legislation and its effects on American retirees is because... well... I've actually "retired" twice already.
I grew up in a middle-class home in Minnesota.
I thought I wanted a career in the financial world. So I spent six years at the nation's top business school and then went to work on WallStreet. I worked for several big financial firms, like Goldman Sachs and Chase Manhattan.
But after a decade of learning how Wall Street really works, I became disillusioned by the hypocrisy and greed.
So when I was in my 30s, I left the Street to become a doctor... An eye surgeon to be precise.
I busted my tail to get through medical school... And spent more than a decade in this field as well.
But once again, I ran into a stifling system, filled with special-interest groups and wasteful bureaucracy.
Over the years, I've also been an owner in several small businesses... Including a tiny biotech firm that just got bought out... A wine shop... And a coffee house.
And although I made millions of dollars as a Wall Street trader, as a surgeon, and as a business owner...
I felt frustrated and angry with what I saw happening around me.
I saw increasing government rules and regulations without proper accountability... Cronyism at every level... And a sense of entitlement that didn't exist when I was young.
Today, this broken-down system is legitimized by Congress and those in power. Being dependent on the government has become the norm.
The old America – known for its free markets, rugged individualism, and entrepreneurship – is broken.
And in the next two years, I believe those who are retired or close to retirement will be devastated by these changes.
That's why I put together this presentation...
To warn you about what I have learned... And to show you several ways you can live a rich retirement – a millionaire's retirement – no matter what happens.
The truth is, if you act now... you could avoid the effects of many of the dangerous provisions that are about to hit millions of retirees.
But before I give you the full details on these simple steps, there's something else I think you should know about immediately...
"Capps' Provision 105-G"
If you're not careful, "Capps' Law" could not only slash your retirement savings and ruin your health... It could also land you in prison.
Here's what I mean...
Part of the agenda in Washington involves restrictions on your freedom to travel overseas with gold.
Quite simply, if you currently leave or enter the United States with more than six and a half (6.5) ounces of gold, you must BY LAW report it to the authorities.
If you do not, the provision states:
The Financial Crimes Enforcement Network (a division of the U.S. Treasury) can slap "a fine of not more than $500,000 and imprisonment of not more than ten years... In addition, [your gold] may be subject to seizure and forfeiture."
The message is clear: Don't try to get your gold out of the country. The Feds are watching your every move.
And please keep in mind: This provision is already in effect right now, and has been for a while.
Maybe you think if you never leave the country with your gold, you are safe.
But "Capps' Law" could affect you even if you simply store your gold in a bank safety deposit box.
"Capps' Provision 56-B"
Remember the "Patriot Act"?
That was the series of rules and regulations passed by President Bush and Congress after 9/11.
The new rules were supposedly put in place to fight terrorists.
Keep in mind: These powers were recently renewed under the Obama Administration.
But what most people didn't notice... and what the press failed to publicize... is a leaked memo from the Department of Homeland Security (DHS).
According to this document circulating on the Internet, the Patriot Act gives the DHS unprecedented powers over your bank holdings.
In short, what I call "Provision 56-B" gives the government the right to seize, without any warrant, your bank accounts... And to make "periodic and unannounced" visits to any bank to open and inspect the contents of "selected safe deposit boxes."
The leaked memo goes on to state, the DHS can seize any of the following items:
"bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records..."
We searched the DHS website. We scanned the archives of news organizations like the New York Times and Wall Street Journal. But we could not verify the authenticity of this memo.
What we do know, however, is this: State authorities in California, Idaho, and Delaware have already used their powers to seize safe deposit boxes, calling them "unclaimed property."
A recent ABC News investigation shed light on this dangerous trend:
"[We] found some states aggressively seize property that isn't really unclaimed and then use the money – your money – to balance their budgets."
For example, recently, San Francisco resident Carla Ruff's safe-deposit box was drilled, seized, and turned over to the State. It was marked "owner unknown," even though the documents in the box clearly stated her name and address.
"I was appalled," Ruff said. "I felt violated... They are zealously uncovering accounts that are not unclaimed."
My point is, state governments are already going this far... How long before the Feds use their authority to confiscate your gold?
I know it sounds crazy right now...
But remember: It has happened before in this country. In 1933. Under the orders of President Franklin D. Roosevelt.
The reality is, Washington's agenda doesn't take you or your retirement choices into account.
Congresswoman Capps and her colleagues believe they know best what to do with your money.
And gold is the only type of money they CANNOT control... Which is why they want to make it as hard for you as possible to buy, hold, and transport it across borders.
Like I said, you don't have to accept any of this.
Don't let the politicians in Washington control how you choose to live your retirement.
The fact is, there are five (5) simple steps you can take right now to protect yourself... and live a richer retirement than you ever imagined.
In the next few minutes, I'd like to give you access to these five opportunities for FREE.
Let me explain...
A Plan to liberate yourself
As I see it, retirement in America has reached a tipping point...
Our great country has been taken over by a group of politicians with an agenda that's dangerous for retirees:
They believe in confiscating your savings... Restricting how much money you can get out of the country... Controlling where you store your gold... Regulating what kind of medical treatment you should get... And even how you should die.
All for "your own good" of course.
And while you fork over more and more of your savings to the Feds... And part with more and more of your freedoms...
The men and women in Congress simply get richer and more powerful.
For example, did you know that while she voted to slash your savings and ration your healthcare... Lois Capps will benefit from a Congressional pension for the rest of her life... Not to mention taxpayer-subsidized health benefits?
As USA Today reports:
"Members of Congress occasionally lose elections, but they never lose retirement and health benefits that most Americans can only envy."
Or take Capps's colleague from California, Nancy Pelosi. While most Americans were struggling in a bad economy... Pelosi grew her net worth by 62% last year, according to government records!
My point is, we're faced with a new socialism in America.
We now live in a country where the government justifies controlling almost every major aspect of your life for the "greater good"...
A country where your freedoms are taken away from you so gradually, you don't even realize it...
And where the only people who get rich are those running the government... and the corporate cronies who are in their pay.
Well, I don't know about you... But I refuse to give in to the new agenda of Capps, Pelosi, and their colleagues in power.
I believe it is my duty and my right as an American to do everything I legally can to protect myself and my family... To preserve my freedoms... And to live a rich and dignified retirement.
Thanks to my three decades of experience in the financial, medical, and business worlds... I am in a unique position to show you how to do the same.
You see, I have come up with a plan to help get everything you need for retirement... money, housing, vacations, healthcare and more... by legally turning the tables on the government and its cronies on Wall Street.
It's a plan that takes advantage of little-known "loopholes" in the fabric of our financial and medical systems.
For example, in the next few minutes, I'll show you how to convert your savings into a "currency" the government cannot control...
How to get $250,000 or more from a "loophole" in the insurance industry...
How to get tens of thousands of dollars per year by simply staying in your existing house (whether you have a mortgage or not)... And much, much more.
I've devoted my life to this ideology I call: "Retirement Millionaire."
The point of Retirement Millionaire is to stop relying on the government and big corporations to take care of you.
Instead, it encourages you to take off the blinders of institutional thinking... And start taking advantage of a world of opportunities that could liberate you from the clutches of the "Nanny State."
Here's the first thing I recommend you do to protect yourself from Washington's new agenda...