MONEY: Default, hyperinflation, or seizing the IRA/401k money

2010 Is Just Deck Chair Politics on the USS Titanic by Ron Holland

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Confiscation of Large Retirement Fund Accounts – The long-term confiscation and control idea is to eventually force all retirement benefits under the new automatic/mandatory IRA program where everything will be combined with and managed like your Social Security benefits. Wealthy and productive Americans will find their retirement benefits used to support the trillions in underfunded union, state and local government employee plans.

Solution: When possible, move your substantial retirement assets legally offshore to escape a future liquidity crisis when the theft will occur and drawdown your balances by taking withdrawals as soon as you can without an early retirement penalty.

The Risk of Private Gold Confiscation Will Go Up – When the dollar and Treasury market crashes, Washington will enact legislation against gold investors to curtail your profits, add a confiscatory non-productive asset tax or confiscate your gold with some type of fiat currency exchange. In any case, they plan to end up with your gold as this will be the basis of a restored dollar.

Solution: Move most of your gold offshore in a legal and reportable manner but outside the threat of closed or paralyzed banks, US investment firms and desperate politicians.

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He makes it sound pretty bleak. But, I have to say, I don’t see how the Gooferment steers it’s way out of this debacle. They need trillions of “dollars” in wealth to somewhat balance the international books.

That means default, hyperinflation, or seizing the IRA/401k money.

There’s nothing else in the sizes that they need. Of the three options, seizing is the “easiest”. They only have to order a few hundred “custodians” to hand over the loot. Those “custodians” are companies that operate under the thumb of the Gooferment regulation, are beholding to the “bailouts” in one way or another, and are the fat cats who will be well rewarded for betraying the Sheeple.

The only question in my mind is does this bring on a full scale armed revolt. It’ll MIGHT make the tea parties look like a Boy and Girl Scout’s Jamboree. Think storming the Bastile. And, in the words of that often quote but possibly never said famous star-crossed Japanese Admiral: “You cannot invade the mainland United States. There would be a rifle behind every blade of grass.” — apocryphal unsourced quote attributed to Admiral Isoroku Yamamoto

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