Once a year someone always posts on this topic as though it is news. This same stuff has been talked about for at least the past ten years.
They will say, "Where is this 'coming' he promised? Ever since our ancestors died, everything goes on as it has since the beginning of creation."
2 Peter 3:4
I approach everything with a jaundiced eye, except for Scripture. The signs of the times are not only alarming, but they are increasing in frequency.
Moreover, a 10 year old could tell you that you can't keep spending money we don't have. The world is now mired in overwhelming debt. Banks are charging "negative interest" for those holding cash. The Stock Market is a fictitious joke, based on Fed pumping. We have President who forged his Selective Service card, and his Certificate of Live Birth has so many Adobe layers that it is comical. The takers now outnumber the makers.
Not to mention the powder keg in the Middle East.
If I am wrong, and we last another 10 years, I'll post an apology to you. But I bet we don't have even 2 years.
“Once a year someone always posts on this topic as though it is news. This same stuff has been talked about for at least the past ten years.”
Yeah, and every year I respond with this:
The problem with such a seizure, is that unless it was all secretly pre-planned in massive detail such that on one late Friday afternoon the dictator President announced freezing all IRAs, 401(b)s, 403(b)s and all other plans, the normal process of legislative authorization and its lengthy debate would give plenty of time for everyone to sell out of their retirement accounts, biting the bullet of paying the maximum tax rate incurred from emptying the accounts in a single year. Such a scenario in which everyone attempted to exit at the same time would crash the financial systems and the economy and do it in such a way recovery would be nearly impossible.
Even the above mentioned freeze would itself crash the economy. After all, the government itself couldn’t exactly sell off those trillions overnight in order to convert them to money or government bonds without crashing the economy either. Heck, they couldn’t even do that over the course of several years. Not to mention the chaos in the markets due to the massive uncertainty such a seizure would cause, meaning the seized assets would become suddenly worthless anyway. And finally, such a seizure would leave millions destitute and lead to massive numbers of lawsuits, adding more chaos and uncertainty.
So the paranoid scenario of sudden retirement account seizure by the government has a probability that approaches zero.