http://whiskeyandgunpowder.com/401k-as-dangerous-as-the-dollar/
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You’re going to have to pay taxes on those funds eventually anyway, and far better to snatch two-thirds or so of the prize away before it gets dumped into the general fund and is spent on housing for Hamas, the snail darter, uniforms for the Obama Youth, excruciatingly bad modern “art,” or more perquisites for Congress. Even half a loaf will be better than none…if you turn it quickly into objects of intrinsic value, such as gold, silver, diesel oil, and emergency rations.
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Another doomsday prediction about OBH44 with the congresscritters seizing the 401ks. Makes sense since all they have to do is strong arm all “the custodians”. Like Rooosevelt’s “bank holiday” and gold call in, one day you got and the next day you don’t. I’m no so sure that “cashing out” and paying the tax penalties is a smart strategy either. Sigh! One MIGHT consider NOT putting more into the 401ks or IRAs. If it does get seized, it’s going to be catastrophic to the market confidence. So the stock markets will be going south! So maybe cashing out is a good strategy. You lose either way. So maybe commodities that you can put in your “mad money” jar makes sense. 1 to 10% of your portfolio?
Once you decide to do that, I’d go for 1 ounce silver rounds. And, if you’re into the “band aids, beans, and bullets” philosophy, some bricks of 22’s will be a good commodity.
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Reinke Faces Life 