What are the chances Zero declares a national emergency and confiscates bank savings including 401ks and IRAs. That’s about $16 trillion.
As bad as Greece is, confiscation isn’t happening there. But federal bondholders got both wiped out and severely “haircutted” depending on the exact type of bond. They are writing the book on where we are going. Anyone acting to confiscate personal savings will have less than 30 days to finish his bucket list.
posted on 09/25/2013 1:05:06 PM PDT
(skip the names---just kick the buttz)
"What are the chances Zero declares a national emergency and confiscates bank savings including 401ks and IRAs. Thats about $16 trillion."
The chances are probably high. But then most politicians will be ready to do the same for the tens of millions in the politically active majority directly or indirectly (contractors, services and the like) employed by the various levels of government. Higher incomes afford plenty of time and money for lobbying and other political activities.
posted on 09/25/2013 3:26:57 PM PDT
(We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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