Posted on 10/18/2013 7:39:48 AM PDT by Rusty0604
Another of history’s many lessons is that governments under pressure become thieves. And today’s governments are under a lot of pressure. Before we look at the coming wave of asset confiscations, let’s stroll through some notable episodes of the past, just to make the point that government theft of private wealth is actually pretty common...
Will more countries introduce capital controls or asset confiscations in the next few years? Duh, of course. Debt levels are unmanageable, so they have to be lowered. And there are only three ways to do it: deflationary collapse that wipes out the debt through default, inflation that wipes out the debt by destroying the world’s major currencies, or stealing enough private sector wealth to reset the clock. Option one – depression – is political poison so will be avoided at all costs. Option two is being tried and is failing because the deflationary effect of trillions of dollars of bad debt more or less equals the inflationary impact of trillions of dollars of new currency.
That just leaves door number three, demonize the successful and take what they’ve accumulated. Recall from the historical list that opened this post that governments like to pick on members of society who 1) have lots of money and 2) have lots of enemies or can easily be framed for crimes. This time around it will be “the rich” who are living well at the expense of the rest of us. The trick will be to define “rich” down far enough to make possible the confiscation of middle-class IRAs and 401(K)s, since that’s where the real money is.
(Excerpt) Read more at dollarcollapse.com ...
My wife and kids have taken that approach... I am trying to figure out how to spend down to $0 the day I die I just cannot find a value for the “D” variable.
Property ownership has always been a facade because of the tax burden associated with it. There is nothing that you can truly own outright the government has proven that.
Savings? What’s that?
Absolutely true.
Spend it on canned goods.
Time to borrow every dime you can on your 401k and invest it in food, real estate, physical PM. Something they cannot get their hands on.
And now, I thank the Good Lord I do not. I will not be infuriated by the 401k rape.
So, they don’t “do this” by going after your savings directly,
but they inflate the currency to the point of worthlessness and steal it anyway...
Yep and no later than 2015. They will probably pass amnesty, a/k/a, Immigration reform first and then work on the savings. At one time I thought that the Democrats would wait until they regained control of the House, and that was probably the Democrats’ train of thought also. However, both I and they, seeing how easy, even for them, the Republicans are to roll, said to themselves, “why wait”? They now know that they can do what they please and when they please with the Republicans. So anyone with any savings that they do not want the Government to confiscate, take a fool’s advice and liquidate it. At least now you will be able to use it for your pleasure. I gave the same advice to my brother. He considered it, saw how things were shaking out and said, “You are right, I will.”
A bit easier to justify shooting a thief when you can see them stealing your stuff.
Your right, but it would help them kick the can down the road a little longer.
I’m spending mine as fast as I can now!
Yes indeed.
That’s why libs have the State steal your stuff to give to other people instead of, as I have challenged a few to do, “walk across the room and take it from me”.
Yeah... That doesn’t work for me. I think I want them to stop doing that.
Just a few days ago, Russia seized close to $8 billion in private pension monies (just “temporarily” — for a year — in order to “carry out inspections”): http://on.wsj.com/17x65s1
Folks need to be ready for the first sign that this is happening. There would be no warning from the PTB until AFTER they pulled their resources.
Oh, they’re coming. It’s just a matter of when.
Yellen, the new Fed chief, also believes in NEGATIVE interest rates. That is charging to ‘hold’ your money for you.
Don’t think they won’t be coming for your mattrees money either, especially hundred dollar bills.
Under the guise of eliminating bills that are too easy to counterfeit, all hundred dollar bills except the new bills will be deemed invalid.
Owners of old hundred dollar bills can replace these bills at any bank with a ten percent charge for each bill.
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do you have a link for this statement?
Is it time for “Atlas Shrugged,” 21st century version? Just stop working 9or work under the table) and collect as many benefits as possible. Many folks do it, and manage to have flat screen TVs, nice cars and trips to Disneyworld. They just lie, and have no self-respect.
Maybe one can renounce one’s citizenship and become an illegal alien as well. Citizenship is so second-class to the Beltway crowd.
yes, I’m being tongue-in-cheek. for now . . .
The jokes on them, Because of these commie shiites I am living paycheck to paycheck and the only savings i have are empty water bottles.
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