Government To Confiscate IRAs? It’s Easy.
There has been enough time for the American working (and saving) public to take the lessons of the 2007- 2009 meltdown and act accordingly.
One of those lessons would have been to realize just how close they came to having their IRAs confiscated.
Personally, I’m surprised that any of the following links below are still active. Well, who's looking at this stuff anyway? Certainly, not the general public:
Confiscation of Private Retirement
Even in the Wall St. Journal: Targeting your 401K
After reading several of these reports in 2009 and later, it did not take long for me to set the plan in motion to cash out … completely. I took the 10% penalty, while it’s still 10% and liquidated my accounts.
The rest of the population? Not so much.
I think it was Prechter who laid out just how easy it is for the government to seize IRA accounts. It’s basically a two step process.
Step 1. The market drops 50% to 70%. Remember, the drop from 2007 to the bottom in 2009 was 58%.
Step 2. Declare a state of emergency (executive order) for the working population and move in to “save” the IRA accounts from more devastation. The result would involve a stiff withdrawal penalty (say 50%) and to “protect” the accounts from further losses, IRAs can only invest in U.S. Treasuries or Bonds.
It’s that easy.
The trading system(s) that are in use and being developed by my firm (more here) are specifically engineered to have minimal levels of capital within the financial system (banks, brokerages, CDs, annuities).
These systems are developed as ‘extraction’ systems. Identify the market set-up, deploy the capital and if/when there is profit, extract the capital and turn it into wealth.
As stated previously, wealth does not necessarily mean gold and silver. That too can (and has been in the past) be confiscated.
In fact, I and my firm are already operating as if the next crisis is in full swing and asset confiscation is the norm. That way, we don’t have to come up to speed quickly in what may be an extreme stress situation.
That is our approach to the markets.
Sure, the S&P may go to 3,300 as forecast but from my own personal perspective, it’s just a distraction for the public. It’s not much different than the gladiator games during the fall of Rome.
The market is falling apart underneath. That’s where the opportunities are and where we operate.
If I’m identifying opportunities correctly and there happens to be an outright crash, we’ll already be in position as a matter of course.
p.s. note the aerosol sky. "Clouds without water" Jude 1:12, KJV