http://www.peakprosperity.com/podcast/85207/jim-rickards-coming-crisis-bigger-fed
"A long time ago back in 1995 I quit making contributions to my 401k. Here is why: 1-No trust in government to fairly tax such accounts by 2030. 2-Fear of government mandated "roll-in". 3-Too restrictive with the potential to get extremely restrictive. A "roll-in" would be the same as a "bail-in" except for retirement accounts. The government with the enforcement of the US Fed would demand such action under a catastrophic market crash similar to the one Rickards spoke of. Your 401k and other retirement accounts would be "rolled into" social security, which essentially means government debt(bonds), thereby liquidating whatever you had into a G FUND, like what Blackrock manages."
What that millionaire says is true - all of the 401Ks and IRAs, I see, being seized.
You will get "bonds", but your Social Security and other retirement will be dictated by what the Government says you will get.
Bttt!
I always pay attention to Jim Rickards....what he has to say. He is an honest broker. As honest as ex- hedge fund guys get
Reminds me of the saying, "Cutting off your nose to spite your face".
In order to give the government less money in his future scenario, he's been giving them more now.