The Confiscation Threat – Gold – 401K

The Confiscation Threat:

From the Gold Money Report, by James Turk (link above):”…the risk of government confiscation remains a real threat, and not just for one’s gold. All assets are at risk. After all, why just stop with gold, which is hard to collect, as the 1933 experience shows. Why not go after some easy pickings, like 401k’s and other tax deferred programs? Using one of FDR’s speeches announcing the gold confiscation, the offending future ‘Executive Order’ might read something like the following:

‘The continued avoidance of tax by subjects of the United States in various tax-deferred programs poses a grave threat to the peace, equal justice, and well-being of the United States; and appropriate measures must be taken immediately to protect the interests of our people. Therefore, pursuant to my authority as president, I hereby proclaim that such tax-deferred programs are prohibited, and that all assets within such programs be tendered within fourteen days to agents of the Government of the United States. All tax-deferred programs in banks or financial institutions have been frozen. All sales or purchases or movements of assets in those programs within the borders of the United States and its territories, and all transactions or movements of such assets across the border are hereby prohibited. Your possession of these proscribed assets and/or your maintenance of a bank or brokerage account to manage them in a tax deferred program is known to the Government from bank and brokerage company records.’”

Reference my article from yesterday.

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