If much of the 401(k)value is tied up in corporate stocks, then seizing retirement accounts is really seizing the private sector.
How else would one characterize the government mandated selloff of ccorporate stocks?
-PJ
This is straight out of the Kirchner’s Argentine formula.
“How would this actually work? “-PJ2
The government “guarantees” the principal in the account.
When the value of the stocks or mutual funds falls below that guaranteed level, which would be triggered later by the program itself, the guarantee kicks in. When an individual converts to the guarantee amount, the stock ownership is transferred to the fedgov. Individuals that accept the transfer earlier, could get a higher guarantee level.
This will be much easier than the confiscation of gold.