Aug 232010
I have two articles of interest to share with you – especially if you have some sort of nest egg.
First off - Congress and Obama want your 401 (k)s and IRAs
It’s in the works kids…. you’ve been saving and investing for years and now they are moving in on taking it.
Read the rest here.
Oh they would love to do it. Love, love, love. Not having an IRA or savings left, I have no dog in that fight but liberty, and that dog will fight.
It will not happen, because all the usual trial balloons will tell them that this would cause an immediate end to their hold on power; perhaps a rebellion. This really is not Argentina. Go for it, please.
James,
I think you are probably correct, although nothing is impossible given the crooks in Washington. Once things really get bad, nothing may be off the table including capital controls, martial law and “confiscation” of savings.
Big risks and small probabilities are what wipe people out.
Monty