SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?


To: GROUND ZERO™ who wrote (16462)3/27/2011 10:31:27 PM
From: Wayners6 Recommendations  Read Replies (2) | Respond to of 222306
 
It's going to come back and bite the taxpayers and the Govt won't be able to simply cover their scam this time by confiscating Gold. This time they have to confiscate valuable property. I think they will start out with a claim (Lie) that you the investor is taking too much risk with your 401K or SEP or whatever your retirment setup is. They will say, we will take all of that money under our umbrella to keep you safe! They will also claim this is what is needed to maintain Social Security and wrap it all up into one fraudulent program. They will then replace the actual money with Govt Bonds and say, look, we will guarantee your former rate of return with high paying Govt Bonds! Your money is then gone, spent on General Govt wasteful spending as usual and your money is then replaced with worthless notes of paper (IOUs). I've already seen proposals for doing this within the last couple of years which have failed so far. But it's going to happen. Everybody should take the maximum loan from their retirment savings and reinvest the $ another way. At some point, not now it will be smart to take the full distriubition on the rest and pay the 10% penalty because that is better than having it all confiscated. The Govt is BROKE! They are looking at under every rock to find big hoards of cash to bail themselves out to stay in power.