I have been involved with the issue for over three years at this point and have some background in the substance.
Setting aside the "buy gold" message and focusing only on the threat of confiscation of tax shelter retirement accounts:
If anyone has any real hard information demonstrating that this is a real threat on which either the Administration or Congress intends to take effective action in the near term, I would like to have it. I am in a position where I can probably do something about it and would do so.
At present, my position remains per my post yesterday evening as follows:
"Obama Begins Push for New National Retirement System..401K at risk? Friday, November 16, 2012 8:38:20 PM · 70 of 70
"Congress sent out a letter to the admin about nationalizing retirement: http://www.humanevents.com/2010/05/04/republicans-sound-alarm-on-administration-plan-to-seize-401ks/
That's really ancient news--that is May of 2010. The hearing was in the fall of 2012. My sense of things is that this is a non-issue--this is something the real extreme Left Wing fringe wants to pursue but it doesn't look to me like it is going anywhere. These are just fuzzies bouncing off the wall--even this Administration is probably not going to take on some thing like this.
Just my view--it might be wrong. If you see anything that looks like real current action, let me know and I will look into it. At present, I don't think it is going to happen in the current cycle and lots of other things are on the table as real threats.
I am glad you don’t see cause for alarm right now. But I do fear what this administration is capable of especially if we come under another financial crisis. Argentina did it and we know how much Obama admires the socialist president down there. It would be for our own good of course. Also, the taxers have brought up taking away the tax deferred status of 401Ks as a way of increasing revenue. I used to be chairman of a pension committee for a public employee union and I know they REALLY don’t like 401Ks and we know how much power the unions have with this administration.
They are going to confiscate your 401K threads have been going on for ~4 years now. There is very little serious discussion of the topic. Most of the time it is the format of XYZ said something at a congressional hearing, so cash out your 401K.