How and why Gov't is going to come for your 401k's, page 1

the gov't is running toward a date when they can no longer service there debts.....when they can no longer kick the can down the road....and they don't like it.


so what they will try.....sure as the sun rises in the morning.......(well not that sure) but worth WATCHING for as they have more and more difficulty funding their deficits and debt with low interest rates is a plan that will be framed to come after citizens retirement accounts.

moneymorning.com... (read this article about the how and why's and what it may be "marketed as"

They are salivating looking a the trillions sitting in these coffers.....they are armed with a complacent lap dog media that has shown they can decieve and "market" or "frame" issues from what ever perspective that suits them (gov't) for desired public opionion.....this gives them confidence.......coupled with the urgency stated here www.safehaven.com...

and here

www.nytimes.com...


needing more money to service the debt that they

1. need to keep GROWING to avoid a debt deflation (depression) of monumental proportions....

but 2..the money to pay down this growing debt is just not there....the marginal productivity of new debt added has gone NEGATIVE and the deficit is negative so

they need to pull a rabit out of a hat..and find some $ ..or go the way that more and more country's like GREECE are headed ...soverign defaults......

the first link shows how they will do it....how it maybe framed and so forth .....

when the SHTF and the bond market tanks wether in 2 years or 6 (if they get our savings) phsyical tangible commodities should shine.....instead of paper....which is seen as worth much less when currency tanks via bond market explosions.....gold and silver should be bought and held....with physical delivery.

i was one who was sounding the alarm in 2007-2008 leading up to the financial crisis and it is time to sound it again for the 2011-2012 period.....the fed gov't effectively removed the debt noose from around the financial sector's neck and onto their (and are) own....this bought them time and money.........

hopefully if you are reading this you are employed and in a pretty job safe profession should the economic SHTF.....war may likely accompany the large number of gov't debt defaults that are set to occur over the next decade.....starting now with greece buckle the F UP

[edit on 9-4-2010 by cpdaman]

reply to post by cpdaman

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I lost more than half of my 401(b), just due to stocks.

In the past several months as the market has floundered in what I think is a false recovery, it has built nearly back to the balance it was, but I really do not consider I will ever see dime one. If I do, I am sure I will lose more than half the value in taxes, due to the need to pay off this horrendous national debt.

Will the government steal my money? I think so.

I have a seperate account now, in savings, and some investments in gemstones that I will count on. I kind of leave the 401 there to see what happens, but I know I will lose it.

If I see another crash coming, I will make every attempt to cash out before I lose that much again, and probably still come out better than I did the first go round.

I would rather get something back out of it than to lose it all to them.

reply to post by cpdaman

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I want to build a bit more before I make a move, really. I am paying only minimally into it, but I like the matched rewards, it is just enough to counter off the taxes in a cash off, I think.

I will only cash out at this point, if I see an imminent crash, I just hope I am awake and able to get to a phone if/when it happens. Basically, I am riding the wave a bit longer.

After seeing gold go through this twice in my lifetime, and watching it drop to 300$ an ounce, I am surely not dropping 1k or more an ounce for it now. That's why I chose gemstones, instead. Gold just feels a bit too risky to me, and it is hard to verify purity without destroying the face value of coins and such.

I can verify the quality of a gem, as I have invested time and money into education and equipment. Gems seem to have a better chance at growing in value, especially some of the rarer ones. That's if you get lucky enough to get in on the bottom, like the 300$ an ounce gold.

If I see any firm government move towards 401's, I will also cash in that instant, no questions. That is why I appreciate your posting, as it is a stark reminder they are gunning for it.

I like having several options going at once, the 401, the savings, and the gem investments. I don't want to have all my eggs in one basket, so to speak.

The 401 could almost instantly become unrecoverable. The savings account, as well if my bank decides to freeze withdrawals duing a "run", but them gems are in my possession and safe, steadilly acruing value.

I am, however, considering silver buillion, not on paper or in some elses "storage", but delivered to my door. It's affordable, and in the end I can make jewelry out of it and use my gems and sell them if need be. I will probably recoup far more than I invested. There is a bold transition into silver jewelry now as gold becomes more and more out of reach for most people.

I do not have a large amount of disposable income, so I have to buy in increments that I can handle, which leaves silver as a wonderful option, and shows real value in the jewelry market.


ETA - I also forgot to mention the stories coming out about how the gold reserves are not really in the banks selling gold, but in reality are based on assumed gold yet to even be mined. Forgot where I read this, but another reason I don't trust gold atm.




[edit on 9-4-2010 by Libertygal]

reply to post by cpdaman

---

tell me more...


is the term "401k" meant to include IRAs and ROTH accounts??

i hear 401k all the time, but there are trillion$ locked up in IRAs /ROTHs
as well.
i have a self directed IRA as one entity, comprised of 13 seperate DRIP accounts (taking the place of a single, registered 'custodian')
and a DWS account (as custodian) ROTH account, specializing in PMs

Am i under a false illusion that these IRAs/ROTHs will be technically immune from government seizure, because of their legal standing which is different than the 'traveling' 401k which is always transferable & follows one through their employment history.



~~~~~~~~~~~~


oh, and Libertygal thanks for the info,
but i've heard that an eventual Gov't seizure of the 401k's ...they would be instantly transformed into a type of 'annuity' product, rather than the snarled mess you explained to a degree.

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