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To: Joe the Pimpernel
"Confiscation of all private property and bank/investment accounts ought to solve all the federal government’s fiscal difficulties."

You are on to something. It will just be in degrees. There have already been proposals to Federalize IRA/401k type accounts in the guise of "protecting" the account holder from adverse market conditions. The government would take all of the private account balances and replace them with a government guarantee of a low, but allegedly safe, rate of return. I think some of the EU countries have flirted with this idea, as well.

21 posted on 03/13/2012 7:00:43 AM PDT by Truth29
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To: Truth29

You know, a lot of foreign central banks have their gold reserves on deposit in New York at the Fed. Maybe it has to be transferred to the Treasury in a crisis? Just saying.


43 posted on 03/13/2012 9:01:05 AM PDT by Former Proud Canadian (Obamanomics-We don't need your stinking tar sands oil, we'll just grow algae.)
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