I talked to my financial adviser. There is no way in hell any seizing of such assets will ever happen. It won’t even get into committee. It would essentially shutdown every financial investment company.
Taxation? That’s another story.
“It can’t happen here, you might say. But it has happened in plenty of indebted countries, such as Argentina and Hungary, and it just happened last week in Ireland. Hungary seized $14 billion from private pensions, reported The Christian Science Monitor, while Bulgaria and Poland demanded partial government control of private savings.”
“I talked to my financial adviser. There is no way in hell any seizing of such assets will ever happen.”
There is no way the government will simply seize our retirement assets. Instead, they’d force us to trade them for credits in some new mandatory government plan.
Which means that it will sometime down the road happen.
Since when have pesky things like laws and that ratty old piece of paper known as the Constitution meant anything when it comes to the government wanting to seize our money? If Congress refuses to defund 0bama's efforts to implement an unconstitutional health care law and cut any real spending, what makes you think it will do anything when 0bama starts seizing private savings accounts?
“I talked to my financial adviser. There is no way in hell any seizing of such assets will ever happen.”
Yeah? They used to say bondholders/dealerships would never get ripped off like they did at GM too...
Higher taxation could be tantamount to seizure. Most retirement accounts (401k’s, traditional IRAs, etc.) are all subject to regular income tax rates when withdrawn. In most instances one must begin required minimum distributions for the year one turns 70 1/2. Raise income tax rates, lower the age for the RMD, and viola: you have at least partial seizure.
Taxation? That’s another story.
Mine says that, too. Only he's wrong.
He's been wrong before, and he'll be wrong on this.
He's a god adviser, for the most part. He steered our assets well during the big meltdown a few years back, but he doesn't share my outlook on these things.
A while back I urged him to consider putting some of our money in commodities, especially gold and silver.
Did he? Nope.
I've warned him on the effects of a massive inflation attempt in the midst of a deflationary correction, and his response, in so many words, was, "There is no guarantee there will be a massive inflation. Just because commodity prices are rising doesn't mean it will manifest on the retail level."
I was going to respond that if it doesn't, that means all manner of investors would have to eat the price increases, for the first time in history! But my wife was right there, and I sometimes catch hell for going off on a tangent like that, especially with this guy.
After the meeting in which he scoffed at the idea of pension fund theft by the ruling elites, I sent my wife a number of links demonstrating the possibility of this happening. Her response was, I don't doubt you've heard about this. I just didn't want the meeting to deteriorate.
Very few of these financial types have an inkling on what is happening, and what is going to happen. Either through plain ignorance or willful self-deception, these guys will have the blinders on, and be damn sure their clients do, all the way to the boxcars.
We're witnessing the death of a nation, and perhaps of Western civilization itself. Not from murder by outsiders, but through suicide.
Should Obama and his fellow communists democrats win reelection in '12, the seppuku will be complete.
Trust me.
CA....
“I talked to my financial adviser. There is no way in hell any seizing of such assets will ever happen.”
FDR siezed all gold from individuals during the 30’s. The Feds even opened safety deposit boxes to steal gold from the citizenry.
It can happen!