[Patriot Babe]

I already cashed out my 401K since I need it due to being unemployment. In my next job I will not open a 401K there is no denying that the Democraps are salivating to watch what is happening in Cyprus. Cyprus is small just wait until they get to the bigger countries. I believe this may be a trial performance to see what happens. We know Democraps are good in stealing other people’s money so don’t think it CAN’T happen here.

[Vigilanteman]

How would you feel if you woke up someday and 40% of all your money had been taken out of your bank accounts?

Not to excuse what the banksters did in Cyprus, but they effectively got away with the same theft in the crash they engineered in September 2008. Only the target was money in stocks, mutual funds, IRAs and 401Ks. The sheeple responded by electing their boy BO POTUS. Not once but twice.

[cherry]

perhaps the whole idea is to panic people into taking money out of their 401's...its fully taxed and for many a penalty would be owing...

but I wonder the wisdom of keeping money in any bank....we don't have much but since its not getting any meaningful interest anyway, should we just take it all out?.....

[lacrew]

This has already been beta tested with pensions in Ireland - 0.6% of your pension annually for 4 years.

http://www.businessinsider.com/irish-bombshell-government-raids-private-pensions-to-pay-for-jobs-program-2011-5