I told ya soSubmitted by SIERRAHPBT on Fri, 02/22/2013 - 13:07
A few years back someone on the DP asked the question about 40lk's, Ira's etc. I said do not get into it. the government has executive orders on the books signed by President Reagan that will allow the Government to confiscate those funds after they declare an economic emergency. JZNEFF.... that holier-than-thou economic genius told the poor kid to go ahead and start his 401k and that I didn't know what I was talking about.
If you have a 401k or any other type of retirement program you are better off to close it and pay the penalty. Once this whole house of cards collapses, all your retirement will be confiscated and worthless. 30 year government bonds will be put in your account on exchange.
Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag.
Last January 18th, in a little noticed interviewof Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency's first foray into consumer investments." That thought generates some skepticism, as aptly expressed by the Richard Terrellcartoon published by American Thinker.
Read more: http://www.americanthinker.com/2013/02/the_feds_want_your_re...
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