The news almost slipped out today so let's see if this gets legs. If this is real, it must be done in 2010 before the November elections.
Because the US government is now insolvent --> +$70Trillion in debt and growing. Fewer want to lend it money.
The Federal Reserve was propping up the US debt auctions but its owners (remember the Federal Reserve is a privately owned institution) don't want to keep buying US debt either.
The only way to keep the game going (at least for a few more years) is for the government to confiscate every one's pension fund, 401K and IRA replacing it with a guaranteed annuity funded with (you guessed it) treasury bills.
This is probably unconstitutional due to the 4th Amendment's protection from unreasonable search and seizure. However, you will happily give all your savings to the government after they cause the next market crash. That is-- government debt will be the only thing that seems safe.
Of course it won't be because the US government has no intention of paying on this sovereign debt. Which is why no one, including the Fed, wants to buy the debt anymore.
Now, if you didn't save for your retirement or you have one of those government pensions that over promised and underfunded, don't worry. You will get to use the retirement funds of everyone else.
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