Skip to comments.Watch Out! Feds Could Seize Your Private Retirement Savings
Posted on 05/22/2011 5:04:36 AM PDT by KeyLargo
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Thanks LVD. Not a new story, but time for an update.
NOT going to happen.
Copper too? I hope so; I’ve been trying to buy up ‘tangible’ assets like that along the way. Nickles, pennies,(pre-1982), older coins like dimes and quarters, 50 cent pieces, Eisenhower dollars, etc..
Unfortunately, I’ve had to cash some in lately for some bill-paying. However, I do try to buy more to replace them; especially since silver went up. Of course, silver dipped in price, I know. However, when it goes back up, hopefully, I’ll be able to get more for them!
Lyndon Johnson did this in 1965, quietly and without notice (because he didn't want to stir up resentment). In my neighborhood, lots of military families who'd had to buy houses in the local market (because local developers got the corrupt U.S. congressman to oppose Capehart housing on-base or off-base for Air Force families) were stuck when the Air Force announced closure of the base.
The houses eventually went back to FHA and VA, and after his election, LBJ dumped the houses cheep cheep, and they were bought up by black families -- it was his political reward to them, taken out of the hides of serving members of the Armed Forces and their small equity balances, which were zeroed out, basically, when the Air Force announced their move.
The other white residents then sold out, and the neighborhood became essentially 90% black in about five years as the new arrivals scored deals on the whole housing stock. That was their reward for their 99% straight-ticket lever-pull for old Landslide Lint'n. Reparations, circa 1965.
About double that if you include the military.
LOL! You really need to grow up, kid. Playing with blackguns, drinking some beer and bragging it up with your pals means dick.
From your immature responses and emotional diatribes, if you ever had the cajones to go into combat you’d last about five minutes before running away screaming or getting your fool head blown off.
Go away, junior. I’ll let you know when we need you.
Mom let you on the computer again, did she?
Those are mighty bold words coming from a boy who proudly boasts his heritage of blowing bagpipes and wearing plaid skirts.
Taxation? Thats 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.
Timmy's dad must be so proud.
“It may well be that the assets can not be liquidated without substantial financial loss, but they can be liquidated. “
I would agree with you if the asset was of a class that any market existed, but I put these in ventures whose stock has no market, and thus no liquidity. If they seize the value of the asset, the value is presently zero. Now of course, I would not have taken these positions unless I thought that some day they would not be worth quite a lot. I hope that this day is sufficiently far in the future that it helps to dodge the tyrannous outrage of the present socialist crowd.
HAHAHA! At least you’ve calmed down. Thank the Lord for all favors, big and small.
Go in peace, FRiend. I was having fun at your expense.
Get your dough offshore. I did.
Yes Theyve already done it. The government appoints unwanted guardians over elderly and disabled people confiscates the money and then foreces them on SSI. You wonder what will happen next when SSI goes under?
“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!
I told her if I hear of it coming down I’m pulling all of my IRAs and my 401k out, eff the penalties, it will be better than nothing.