Confiscation of Retirement Accounts – Another Brick in the Wall
By: Andy Sutton
Jul 12, 2013
For the past few months we have been sounding the alarm both separately and collaboratively regarding the impending (although not necessarily imminent) looting of the Western financial system including bank accounts, public pension funds, and likely private retirement accounts to some extent. With regard to the bail-in doctrine now in place in much of the rest of the world, it appears as though Australia is jumping on board as well – as part of the 2013-2014 government budget no less. Details are still sketchy, but we’ll analyze what we have so far.
We remain absolutely convinced that a minimum of 95% of the people will do absolutely nothing. Most of them will not become familiar with the term ‘bail-in’ until it is already too late. We can’t do a thing about that. What is most depressing is that of the numerous people we have talked to who actually understand what is going on, the vast majority of them have also done nothing. Now is not the time to have that deer in the headlights, over analysis paralysis mindset.