SOMETHING WICKED THIS WAY COMES…OBAMA PLANNING RETIREMENT PLAN BAIL-INS
APRIL 8, 2013
Obama is on a tear about the ‘size’ of IRA balances. He says that Americans should not have IRAs beyond a certain limit. These limits would be imposed through changed in the tax codes to impose FAIRNESS in IRA matters.
HERE IS MY PREDICTION:
Obama will propose bank bail-ins that incorporate a progressive pension plan expropriation based on retirement plan size and income streams. It will start with the biggest plans, many sitting in offshore accounts. These mega plans will suffer a large haircut, perhaps starting with 20% and progressing upwards to 50%, depending on how one acquired the wealth or how well connected one is.
Like the well-connected in Cyprus, those who know the haircut is coming can execute plans to remove their IRAs from government seizure. Those who are not forewarned to this theft will wake up to find their $500,000 IRA has been halved.
Cue the Hindenburg.