Will They Come For Your IRA?
Dr. Jeffrey Lewis
SilverSeek.com
July 15, 2016
I received this note from a reader regarding the confiscation of retirement accounts:
Doc,
Thank you for your kind words. I do have a question for you.
You only need to read the first paragraph of this article for my question:
“It is an incredibly common occurrence. It has happened in numerous countries in just recent memory. Poland, Hungary and Bolivia are a few in the last years where retirement funds have been seized.
Total funds currently held in private IRA and 401K accounts in the US are estimated to be in the neighborhood of $10 trillion. That number looks awfully enticing to the US government which is currently indebted to the tune of $19 trillion and holding liabilities of over $100 trillion.
As we dance on the brink of a massive collapse, the government’s already empty coffers will be even further decimated as the economy contracts massively and tax receipts plummet.
In that moment, rather than reducing expenditures and doing massive layoffs and closures of departments, like any regular business would do, politicians will nationalize retirement funds for the “good of the country.
And we continue to see movements in that direction”.
I don’t imagine the government will outright steal IRA accounts but force IRA owners to buy government bonds with funds in their accounts and portfolios.
I can’t seem to get an answer to this question:
Does this list of accounts to be “confiscated” also include Roth IRA’s?
I have a Roth IRA account that I’m trading/investing in mining stocks.
Would you know if Roth IRA’s are included is such a list?
The Rest…HERE
