I personally don’t think this will take place as described. Face it, the Treasury, the Fed, and the big investment houses are joined at the hip. No way is J. P. Morgan, Goldman Sachs, Merrill Lynch, etc. gonna lose control of all that wonderful green money.
More likely is that they will “coordinate” Social Security benefits with private pensions. You got a big 401K? Sorry, no Social Security for you!
You could be right. But then you also could be underestimating the fascist tendencies of the Obama Junta.
History shows us how confiscation happens right here in the USA. It never happened in Canada during the depression of the 1930s as it did here in the USA under FDR.
You may wake up oe morning to find that a federal regulation was passed and you can no longer access your own retirement money without applying to the government.
Or you can protect yourself.Why do you think the IRS is trying to cast a chill on AMericans setting up duly reported Off Shore accounts, which can be done perfectly legally? Not to long ago , say 2 years ago, our government was encouraging us to spread the wealth.
I believe the article is correct, and many Americans have their wealth legally resting far beyond the ex parte seizure powers of the US giovernment, unless the US begins a court hearing ex juris( which in most cases would fail as long as taxes are paid.)
Both the Republicans and the Democrats will persue the path described IMHO.