The Feds are looking for ways to seize retirement plans, IRAs, and 401Ks to finance their deficit spending.
I believe they will do this in combination of inflating the currency. This will enable them to keep spending and kick the can down the road a few more years, then total collapse. They want to make everyone poor and miserable - communism.
They then can blame the failure on the Constitution and the Bill of Rights or as Obama has openly stated “Bill of Wrongs”. He has suggested we need to replace both of these outdated documents. His vision of what it should be replaced with comes straight out of the communist manifesto.
America is so screwed.
Argentina collapsed in 2001 and confiscated private savings in 2008.
Obama convened a working group (list of names needed) to look at how to do this in the States. Mechanism would be a public law (or decree), seizing your IRA and replacing existing assets with federal (worthless) promissory notes.
The assets would be commingled with Social Security funds (i.e. instantly liquidated and stolen).