I would love to know how he arrives at that figure.
No doubt he calculates part of that net worth using IRAs and 401Ks. If the bloated, rigged Stock Market collapses (and I think it eventually will), then you can wipe out a very large percentage of that.
Whatever is left over after the crisis, the government plans to seize in a "emergency measure."
What else is he using? Bank savings? With laws passed by Congress, our bank savings can be confiscated to cover the Banksters and Wall Street Gamblers derivative exposure.
New law means taxpayers must back banks' 'incredibly risky' derivatives deals
What else? Well, our homes are not really ours, even if we own them outright with no mortgage. Property taxes mean more than an irritant. In a crisis, they mean that governments can charge us whatever "rent" they deem necessary in order for us to live in "our" homes. Try not paying your property taxes and watch what happens to "your" property in a very short period of time.
The average black family has a net worth (after automobiles and clothing are taken out of the equation) of $1,700. That is almost 70 times less than white families.
If we have a collapse, the government will take all it can in an attempt to quell the riots. You can count on it.