It is unfortunate, but just add it to the list of problems to owning miners vs the physical metal.Originally Posted by Brian4Liberty
It is unfortunate, but just add it to the list of problems to owning miners vs the physical metal.
No surprise that Rep. Raul Grijalva is behind this proposal.
"Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister
In time, in time.
Less than 20% of the gold was ever turned in and that is a government statistic so probably cut that in half. The 90% told the government to go pound sand on the gold turnover. They would be lucky to get 5% this time around. But that is not going to happen. It is simply too inconsequential.
They will go after the 401K's and IRA's..... you can bet on that one. The federal politicians and Federal Reserve boys are salivating at the thought of a couple trillion just sitting there and belonging to the naive sheeple.
Mmmmm... 401K with some fava beans and a nice Chianti....mmmvvvvssss
How are they going to do this? Do you really think it is possible to take over everyone's 401k/IRA and liquidate part of all of them and fill them with USTs?
It is possible , if it passed the House, it would go through the Senate and White House easy.
They start with raising taxes/penalties for removal to the point they have your money hostage. Actually they don't really need much beyond this to capture the 401K's legally. They simply make it too costly for you to remove your money.
Then they start forcing the 401K's into Treasury Bond purchases because at some point the FED balance sheet will get too big to hold all the bogus bonds they are buying. NOBODY will step in to buy those bonds. We are stringing out the lender of last resort with the FED. Without someone buying the worthless T bonds the federal government is toast. They certainly are not going to extort another $1.5 trillion a year plus bailouts, plus natural disasters, plus more wars etc etc etc from taxpayers. They are also not going to cut all this crap.
At some point they will probably do a crash on the stockmarket which will drive the 401K's into a "safer" market..... Treasury Bonds. The government will keep our 401K's safe from financial terrorists etc. The Chinese could also crash the markets by cashing in a trillion or two in Money Market accounts etc they have in the US. They threatened this in 2008 and the FED bought them off.... with what nobody knows.
This is just a couple of many scenarios. They lock the 401K's in with taxation/penalties then they attack them with some bogus strategy "for the good of all" "to stop the terrorists" "to prop up the Too Big To Fail financial institutions" " to help the government" "to keep the entitlements going" etc. The sheeple would suck up any one of these given a moderately orchestrated "event" which these people are great at.
Last edited by adams101; 12-13-2012 at 10:15 PM.
Only real wealth most high earners, city dwellers who pay Fed taxes have is in home &401 k.
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