Back during the 2008 Credit Crisis, one of the first things they did was to freeze money market accounts in the wake of bank failures and a liquidity collapse. For most people, the money market arena is a playing field that only their brokers deal with, but it is important to retirees who have 401K's, IRA's, and mutual funds because this is where your money goes when you are temporarily out of stocks, bonds, or other paper assets.
Back on June 30, an interesting announcement was made to one sector of the retirement industry as Paychex, a third party company that provides HR, business, and financial services to thousands of companies, reported that they were no longer using money markets as a conduit for individuals and businesses to hold their cash in between payments made towards a worker's chosen retirement account, and similarly, when a worker/customer moves out of equities and into cash within their accounts. And in this policy change, where is Paychex now going to move money to store on a temporary basis?
U.S. government bonds.
I received a document from Paychex today which is the administrator of one of my 401K accounts… and they informed me that they are going to move all cash in NON-government ‘Federated CASH Obligation’ money market accounts to ‘Federated Government Obligations‘…
Since my 401K money is invested in three different precious metals funds this announcement does not affect me, however it will impact many other unsuspecting would-be retirees who falsely believe that their money is “safe” and “liquid” in a money market account. This is the slippery slope into government forcing account holders to invest in government debt (Treasuries), and it’s exactly what we’ve been warning about. As for me, I’m going to roll that particular account over and away from the control of Paychex. - Silver Doctors via SGT Report
The Federal government has been planning to try to confiscate Americans retirement accounts for some time now, and move them directly into U.S. Treasuries similar to what they did to the Social Security Trust Fund. And this has already taken place in the pensions of Federal employees, which are secured by government debt (Treasuries), and in the Obama created program known as MyRA.
For over a decade, and in particular since the financial system nearly collapsed back in 2008, many in the alternative financial media have been trying to warn people of the coming death of their established retirement system, and the moves being made to cut promised benefits due to the insolvencies now being seen at the Federal and State levels. And in 2016, where the U.S. Treasury is at its lowest yield in history, and much of the rest of the world languishes in negative interest rates, the window is closing for Americans to be able to make a choice... and that choice is whether to see your retirement accounts liquidated to fund U.S. government debt, or to take the proactive position and move into gold and silver before the price of each becomes unaffordable.