IRA and 401(K)seizure

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=521423

exactly like in argentina as the US inexorably slips to 2nd or 3rd world status.

 

Earth shattering.

Nationalize retirement accounts to fuel this ponzi economy for another 2-3 years, max? Then what?

Monetize. So the 401K dollars we "Borrowed" are paid back in toilet paper.

This is a watershed moment.

10 years ago, an Argentinian-style nationalization was unthinkable. Now, they're planning it.

 

i guess the lack of interest in this thread indicates that few traders have these kind of plans or are unwilling to contemplate their seizure by the US gov't..

 

It's so unfathomable I can't even imagine how I could plan for this.
Pull it all out and pay the penalty and tax? Sounds pretty radical.

 

redirecting (IRA and 401k) tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute," as reported by InvestmentNews.com.

How is this different from SS/FICA?

 

the government will give you aspecific return in devalued dollars.

 

Here's an experiment for the libs: try taking the money from their best supporters first, the entertainment industry.

Confiscate the likes of Streisand and Penn's money and promise them an annuity. Take Buffet's while you're at it. Use their reaction as a test.

 

Typical scaremongering. Cheney Death Panels anyone?

 

You'll need to take Penn's brass knuckles too

 

In my opinion, any serious attempt at this would result in one of two things:

1- A complete decimation of the Democratic party.

or

2- A full-fledged revolution and a new political system.