“They are not going to confiscate our retirement accounts for force at the point of a gun to trade them for government bonds that would be political suicide”
Exactly....it’s too easy to keep the printing presses rolling and take the money though devaluation and inflation.
The effect is the same. If you’re good, you can even shift the blame to your political opponents.
Chavez did this - he halved the currency, and then blamed business if they raised prices.
That’s the best way, politically speaking, for this to go.
Yes, just imagine you build $250,000 fund in your 401 (K) and when you cash out at 62, the dollars you saved are worth .25, if you are lucky, on the dollar and are taxed at 50 % of value.
Yeah, no need to outright take it, just devalue it and tax the crap out of it.