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‘Kiss your pension fund goodbye’? Economist warns government could seize 401(k)s
Economic Collapse News ^ | 25 May 2015 | Andrew Moran

Posted on 05/25/2015 5:06:04 PM PDT by SkyPilot

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Retirements are already in a crisis. If governments begin to seize your 401(k) accounts the crisis will only be exacerbated.

Cash will be eliminated very soon, perhaps sooner than anyone imagined. Already, withdrawls of cash (even a few thousands) will be reported to the authorities by the banks and your every move will be closely monitored.

They will tie everything to your "cooperation." Your healthcare access, your Social Security, your taxes, your employment....everything.

You will be issued worthless "bonds" and all 401Ks and IRAs will virtually disappear. I believe the next logical step will be a repeat of FDRs 1933 Executive Order that outlawed "hording" gold - which meant all ownership, possession, and transfership of even 1 ounce of gold.

This is no joke folks. It is coming.

1 posted on 05/25/2015 5:06:04 PM PDT by SkyPilot
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This info from the article is also dead on, and signals the end of cash as well as penson fund seizure:

______________________________________

In recent years, financial institutions, central banks and governments worldwide have imposed stricter deposit/withdrawal measures and classifications on customers. Here is a list of some questionable practices and newsworthy events in the past couple of years:

◾Bank deposits may soon be classified as paper investments and not money.

◾JPMorgan Chase has begun to restrict the use of cash in various markets and here.

◾Spain imposed a tax on savings accounts.

◾Swiss Bank blocked a pension fund from withdrawing its cash.

◾Six major banks were fined $6 billion after it was discovered they manipulated currency market.

2 posted on 05/25/2015 5:07:39 PM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: SkyPilot
Here is Armstrong's original article.
3 posted on 05/25/2015 5:08:58 PM PDT by Publius ("Who is John Galt?" by Billthedrill and Publius now available at Amazon.)
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To: SkyPilot

You’ll have Civil War II if that happens.


4 posted on 05/25/2015 5:09:01 PM PDT by dfwgator
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To: SkyPilot

Numismatists were allowed to keep their collections. ;-)


5 posted on 05/25/2015 5:09:14 PM PDT by Genoa (Starve the beast.)
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To: SkyPilot

And when the headline says “government,” they mean bureaucrats and politicians, people with names.

Those trying to take our money will have names, and their efforts can be stopped.


6 posted on 05/25/2015 5:09:41 PM PDT by Theo (May Christ be exalted above all.)
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To: Publius
Thanks. I'll read that link.

The complete Anti-Christ system is almost in place.....

7 posted on 05/25/2015 5:10:53 PM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: Genoa
Numismatists were allowed to keep their collections. ;-)

I am sure Dictator Obama cares about numismatists and their collections. Perhaps his Decree will give them 2 months to turn over all their gold instead instead of one.

8 posted on 05/25/2015 5:12:48 PM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: dfwgator
You’ll have Civil War II if that happens.

Civil War? I'm thinking more of a complete, outright Revolution complete with tar, feathers and rope in the spirit of our Founding Fathers.

9 posted on 05/25/2015 5:16:11 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: SkyPilot

They better hurry up because in the early fall of 2016 the market will crash trying to get Hillary in the WH...


10 posted on 05/25/2015 5:17:08 PM PDT by Popman (Christ Alone: My Cornerstone...)
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To: dfwgator
The crisis will be more than civil war - we are facing a global meltdown.


11 posted on 05/25/2015 5:17:52 PM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: Popman
They better hurry up because in the early fall of 2016 the market will crash

Or earlier.

The won't let the "crisis go to waste" either way.

12 posted on 05/25/2015 5:18:45 PM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: SkyPilot
This is no joke folks. It is coming.

I would expect nothing less from a publication that sells on economic doom and gloom.

13 posted on 05/25/2015 5:19:14 PM PDT by Labyrinthos
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To: SkyPilot

I would like to see some other “economists” taker on this.

Martin A. Armstrong
http://en.wikipedia.org/wiki/Martin_A._Armstrong


14 posted on 05/25/2015 5:22:14 PM PDT by Lurkina.n.Learnin (It's a shame nobama truly doesn't care about any of this. Our country, our future, he doesn't care)
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To: SkyPilot
"The court concluded that employers have an obligation to protect their workers’ 401(k) plans from mutual funds that provide deplorable returns."

Investments that pay have been getting more scarce. It will be much worse, after the Fed raises the rate. Interest rate increases tend to be viral. Then, the vicious circle (business activity slows, layoffs, stocks go down, less revenues, bond collapse, then 'round and 'round).


15 posted on 05/25/2015 5:22:38 PM PDT by familyop
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To: Labyrinthos

Once a year someone always posts on this topic as though it is news. This same stuff has been talked about for at least the past ten years.


16 posted on 05/25/2015 5:24:41 PM PDT by johniegrad
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To: SkyPilot

Truth be told, this started during the Clinton administration. His idea was to expropriate the last two years of everyone’s 401. This move would immediately give the government a shot in the arm, and lower the debt. Because of the political fall out it would cause, this idea was shelved. Now, because of the 18 trillion dollars in debt, the OBAMA administration wants to revive this plan. But instead of just taking the last two years, they’ll take it all, and the government will give all 401 owners a GOVERNMENT IOU. The government will return the money in “DRIBS” and “DRABS”, just like Social Security. So when these 401 owners reach retirement, they’ll get their Social Security AND what the government decides to give for their 401. This is to equalize every body, because those that didn’t have a 401 will get to dip their beak on the money the people that had the smarts to save their money. SEE NOW EVERY BODY IS EQUAL.


17 posted on 05/25/2015 5:25:06 PM PDT by gingerbread
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To: Labyrinthos

Well then, double down on your contributions!!

Let the Good-Times-Stock-Market roll.


18 posted on 05/25/2015 5:27:31 PM PDT by RoadGumby (This is not where I belong, Take this world and give me Jesus.)
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To: SkyPilot

Yep. Not only riots, but armed, laid off government employees rioting. [Nearly none of them trained to be soldiers and every one a sovereign chief.] After the sporadic and peculiarly random-patterned interlocking fire in suburbs quickly depletes huge stores of ammunition, it might not be all that uncommon to see a hungry, snarling former planning office administrator gnawing on the skull of a former public school administrator (zombies).


19 posted on 05/25/2015 5:29:11 PM PDT by familyop
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To: SkyPilot

Hecky durn- who’da thought such a constrained noose, would ever strangle the tax based working class slaves? Oh well- perhaps the world wide devastation, won’t be that bad.


20 posted on 05/25/2015 5:30:31 PM PDT by RedHeeler
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