[SkyPilot]

The Illinois or other state pension crisis could be a spark that starts a much, much, much larger inferno.

But something will light the match.

People who think their 401Ks or IRAs are safe are living in a fantasy world.

If things go south enough, Katy bar the door.

The first ones they will seize will be Federal (TSP accounts). But if the bleeding turns into a hemorrhage, then they will need all accounts to plug the hole.

[Yosemitest]

Money in regular CHECKING ACCOUNTS will "get a Haircut" too !

[Sgt_Schultze]

That’ll probably be the nose under the tent. FedGov will mandate some 10% per account in govt bonds - as a safety measure. The percentage will gradually increase through the years until somewhere around 50% will have to be invested in .01% gvmt paper.