Discussion of Housing Bubble, US Dollar, Debt, Trade Deficit, Oil, Gold, Consumer Spending, Central Banks, Inflation, Outsourcing and the Bleak Future of the US economy
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Don't really know, but they own the rulebook and changing the rules midstream seems to be their modus operandi these days.
Lets say they don't seize them but 1) tax them at extremely high rates or 2) limit withdraw amounts to a pittance per year.
Result: Impact remains the same
Ultimately, our whole financial system is just a giant ponzi scheme built on debt and many of these 401K investments are invested with or in (already/soon to be) insolvent organizations and/or debt products that won't be paid @ 100% of the value assigned...
Just wait for the fireworks once the bond & treasury markets tank...
4 comments:
Here's another interesting article.
http://informationclearinghouse.info/article22168.htm
Sobering...
Pretty scary - Help me out in understanding how the government can seize someone's 401K?
Anon,
Don't really know, but they own the rulebook and changing the rules midstream seems to be their modus operandi these days.
Lets say they don't seize them but 1) tax them at extremely high rates or 2) limit withdraw amounts to a pittance per year.
Result: Impact remains the same
Ultimately, our whole financial system is just a giant ponzi scheme built on debt and many of these 401K investments are invested with or in (already/soon to be) insolvent organizations and/or debt products that won't be paid @ 100% of the value assigned...
Just wait for the fireworks once the bond & treasury markets tank...
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