So....
You are willing to pay a 10% penalty to take your money out of your 401(k), to avoid a potential Cyprus-like 10% “levy” on your 401(k).
Perhaps to avoid a “levy” that is larger than 10% by hiding whats left of your 401(k) in a place where it won’t be taxed, while the Fed devalues it with a psedo-levy by printing wads of fiat cash.
Or perhaps to buy gold/silver to retain as much original value, praying that Obama doesn’t go FDR on us and make private ownership of precious metals a crime, so that you have to sell it back to the Fed at a loss.
Am I missing something, or are you about to make a donation to the Feds because you are panicing?
“Or perhaps to buy gold/silver to retain as much original value, praying that Obama doesn’t go FDR on us and make private ownership of precious metals a crime, so that you have to sell it back to the Fed at a loss.”
Once the metal is in your hands, you don’t HAVE to sell it back to anyone. They can pass a law saying that you do, but oops, that gold all got stolen in a burglary last year, can’t sell it back now!