They needn't bother stealing your 401k. Printing -- or creating -- money amounts to much the same thing.
Perhaps an inflated stock market that comes crashing down? Frightened Americans who see their savings vanishing might just let the "safety" of Treasury bonds replace diminished savings.
“There’s nothing in my plan that will cause anyone to lose one dime of their 401K plans. Period.”
“Those were substandard 401K plans offered by bad-apple investment firms. Our new plans offer ‘great value’”
“The Republicans aren’t offering any alternative to our 401K-treasury plan, just a return to the status quo...”
They needn't bother stealing your 401k. Printing -- or creating -- money amounts to much the same thing.
Whatever it is that does it, expect the claxons to be sounding and the Patriots to rise to defend their property.
The Democrat regaining control of the House. They [Democrats] initially took it up when they controlled both houses after the 2008 election. They became bogged down with obamacare and results the 2012 mid term election derailed their plans. They haven't forgotten about it.
That was the excuse they used the last time. And gov’t employees with defined benefits were in lead of the charge. They claimed that private citizens had lost retirement savings and that they hadn’t because their benefits were guaranteed by gov’t contracts. I think they wanted to confiscate private savings to make up for their plan losses.
This argument is so absurd but so many people are uninformed they buy it. Hopefully, the pensions in Detroit will be cut enough that it will send a message that gov’t promises are not secure.
>>what will it take to trigger this?<<
IF Elmer Fudd confiscates our 401ks, there had better be millions of fingers on triggers. Or else, get fitted for chains.
Banks can already take your money...much more likely come the next bank bailout.
Who is going to stop him?
The future confiscation of 401(k) plans has been obvious for at least 5 years.
I had a really great 401(k), but I took it on a canoe trip, and...
wasn’t clinton going to do the same thing?
I wish I had the forsight to invest back then. Darn, my investment timing is always off!
Create an IRA LLC and move it overseas...
this happened in greece.
first they “protected pensions” with public bonds.
THEN they screwed the retirees and workers with bond “haircuts”.
Aesop never finished the old tale about the grasshopper and the ant. What actually happened was that the grasshopper saw that winter was coming, put on a $1000 suit and got a Teleprompter and started screaming about “economic justice”. He went into government and prospered on what the ants had gathered. As Stalin said, it isn’t who votes, it’s who counts the votes, and it isn’t who grows the food, it’s who confiscates it and distributes it. And it isn’t who saves.
“Wait a minute. There might be legal precedent. Of course. savings snatching. Let’s see, Savings,…see 'snatch'. …Ah! Haley vs. United states. Haley 7, United States nothing. You see, it can be done!”