JIM SINCLAIR: GOV’T TO RAID RETIREMENT ACCOUNTS TO FUND SHORTFALL OF TREASURY PURCHASES
SEPTEMBER 14, 2012
The legendary Jim Sinclair sent an email alert to subscribers this afternoon warning that the US government will soon liquidate private 401k and IRA retirement accounts and force private retirement assets into treasury paper as no major buyers of treasury paper remain outside of the Federal Reserve.
Sinclair correctly notes that the practice has already occurred recently in several Western nations, and that investors can expect the same to occur in the US as the government runs out of funding options.
Sinclair recommends investors stop creating and funding retirement accounts at a minimum.