Posted on 12/01/2012 7:11:15 AM PST by Kaslin
My own opinion is that he is trying to spark some serious inflation.
For some reason people don’t get very upset when the value of their money is stolen vs having the actual money stolen.
He won’t need to upset anyone by doing this.
I am thinking of doing that maybe near the end of December.
Good article. Well worth the read.
That would be straight up theft!
Elections have consequences.
Are we so sure they’ve been going after the ‘poor’ filers of bankruptcy—wanting to avoid paying their bills, but keep their assets?
“Private sector 401k and IRA owners are first on the Democrats’ radar and may see their plans taken away soon. House Democrats are planning on eliminating those tax breaks and converting the private plans to government-controlled retirement accounts, where they will be at risk for insolvency.”
Conversion of existing IRA, 401k to government annuities could trigger a series of critical events. The real threat of conversion or confiscation would result in panic withdrawals from these accounts. Government could counter by freezing retirement withdrawals which would then likely result in panic withdrawal of regular bank accounts, stock and bond portfolios and capital flight. Freezing these accounts would essentially shut down commerce and markets. Businesses would fail and those that survived would stop sending in quarterly taxes. As the government was deprived of income, benefits would not be paid and welfare mobs would riot. Then we will have tyranny or anarchy depending on your location.
It doesn’t take much to start a stampede, and once it starts, it is very difficult to stop.
California is about to release over 100,000 prisoners who are incarcerated. “They cannot afford to keep them out of the population who can behave”.
They will be released in 3 batches—the worst will be released last, and include serious felony cases & serious sex offenders-most likely to repeat their offenses.
A Chicago thief in the White House. Good job America. Everybody gets a trophy!
Realize this:
All your 401 money is yours.....
When you die, all the balance can be inherited by your chosen beneficiaries.
When Obama siezes all your 401 money and ‘folds it into a Federal retirement plan”——and you die—there will be not ONE RED CENT left for your family.
Many Americans have had their 401’s and other private pension plans for over 35 years. To set that money aside, under a formula that was told to you up front & then to have the ‘rules changed’ when you are about to use that money is just plain fraud.
But- the Dems are the masters of fraud.
I believe such an action will trigger a revolution and it won’t be pretty for the Libs.
Redneck Kharma
Our savings are insured by the FDIC, so if the federal government takes our savings some of us will simply help ourselves to bank funds to replace what was taken.
They may object to our methods, but hey—six of one, a half dozen of another. What goes around comes around.
Probably true - the fruits of generations of public school education and erasing of any understanding of what built this country and its economy.
Going after assets benefits creditors or the trustee, not the government.
I hope you have some serious support system.
IF you have money in an IRA, etc, you are in for a big shock.
That would be straight up theft!”
Obama doesn’t care.
Neither does Pelosi or Reid, etc.
The prior bank failures have seriously damaged FDIC funds.
On that topic—remember when we always got word of a few bank failures every Sat AM or Mon AM? The failures have not stopped-—but the announcing of those failures has.
Have not heard of any for over a year.
LOL, another 4 years of confiscation and reditribution by the African communist and his “black agenda” administration.
Congratulations, America.
As for me, I have fertile land, well water (and a creek), a big wood stove (with cooktop), acres of ash trees, a big dog, and I’m armed to the teeth. Plus, I’m nowhere near any concentrated Democrat parasite nest (”city”).
Good luck, everybody.
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