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I had three RANTS queued ahead of this one.  However, when I saw the below article, I not only moved this piece to the front of the line – but wrote it Saturday Afternoon

Here it Comes – Jim Sinclair

For years, Sinclair has been extremely vocal of his fear that – in some way, shape, or form – government-sponsored retirement plans like IRAs, 401Ks, Roth IRAs, Keoghs, and pensions would ultimately be CONFISCATED.

Likewise, I have written of this topic endlessly; including two specific RANT topics –  “OUT, OUT DAMN IRA” and “RETIREMENT PLAN “CONFISCATION.”  Moreover, I have continually reminded readers that both myself and Andy Schectman – Miles Franklin’s President – cashed out our IRAs three years ago (at age 39, as we are the same age); happily paying the taxes and penalties for the right to control our money; which we promptly “rolled” into PHYSICAL gold and silver.

To repeat today’s “QUOTE OF THE DAY,” Sinclair states the following:

Here it comes. Please consider the risk of turning over your retirement account to U.S. management in Treasury instruments only.  How much of a push to you need to defend yourself?

…in response to reading the below article – published last week

Retirement Savings Accounts Draw U.S. Consumer Bureau Attention

Yes, the “Consumer Financial Protection Bureau” (CFPB) is considering…

…taking on a role helping Americans manage the $19.4 trillion they’ve put into retirement savings…

WHAT A COINCIDENCE, as $19.4 trillion would more than cover the $16.5 trillion national debt – excluding $200+ trillion of “unfunded liabilities,” of course.  Better yet…

…such a move would be the agency’s first foray into consumer investments.

Adding insult to injury, here is its so-called “justification”…

The bureau’s core concern is that many Americans – notably those from the retiring Baby Boom generation – may fall prey to financial scams.

Remember, the U.S. government ONLY acts in reaction to danger; NEVER proactively.  In other words, you can be REST ASSURED they will NEVER consider draconian actions unless the floodgates are already bursting.

For example, I am constantly bombarded with questions about potential gold confiscation (which Sinclair vehemently believes will never happen); and each time, my answer is the same.  That is, the government would only consider such an action if the dollar were already crashing; in which case, would you rather own “PRICELESS PRECIOUS METALS OR WORTHLESS DOLLARS?”

For those that don’t believe me, the government did JUST THIS at the heart of 2008’s Global Meltdown I; actually discussing retirement plan confiscation in Congress.  Moreover, if the massive MONEY PRINTING orgy they embarked upon hadn’t stabilized financial markets, I ASSURE you this “discussion” would have rapidly graduated to the voting stage…

House discusses 401k/IRA confiscation – November 2008

In today’s fantasy world of “UNPRECEDENTED” MONEY PRINTING, MARKET MANIPULATION, and PROPAGANDA, the government has somehow managed to erect an – albeit paper-thin – façade of stability.  However, the fact that QE3 and QE4 were announced during such “non-crisis” times – let alone, the similar actions undertaken in Europe  (“whatever it takes”) and Japan (“inflation targeting”); should scream loud and clear that the REAL situation is far more dire.

Now that interest rates are rising and PM suppression exploding – whilst the nation faces a “fiscal cliff” sequester and debt ceiling increase; how can ANYONE be surprised such a topic has “coincidentally” resurfaced?

I can only SCREAM at the top of my lungs of the urgency to avoid being entrapped by this potentially NATION-KILLING legislation; as if enacted, it would not sentence your life’s savings to “DEATH BY INFLATION”; but permanently end any remaining sentiment of America being a free country…

Now Obama wants your 401(k) – November 2012

However, taking action is entirely up to you…


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