Govt Slaves | September 14 2012 | Silver Doctors
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.
From Jim Sinclair:
There is one more serious problem with all retirement accounts above and beyond the Sentinel Ruling and the integrity of the custodian.
If a systemic failure and lower dollar causes an unwanted increase in interest rates in light of the Fed as the major consumer of treasury paper in the last 18 months, how would the US government fund itself? You can be certain that China and the Middle East are not coming to the rescue.
One way would be to liquidate retirement accounts ($2 trillion USD) and put treasury paper into them to save the poor worker and coming retirees from loss as MSM and MOPE would say.
Look around the world at governments either eyeing retirement programs or invading them. You will find it is already happening.
Please, at a minimum, stop creating and funding them.
Regards,
Jim
Gillian-
Corzine and MF debacle is reprehensible. Issue at hand – no Canadians lost a single dollar as their rules are tight. Margin accounts were at risk. It has been reported that no one lost in their non-margin accounts. Does not make me feel better, except that I dont use margin. My original concern about the science of the market is – that by confiscating the 401k’s – many of which are invested in mining stocks – just like Jim’s Tanzania Gold venture – that this would tank markets – at first. The govt is no friend of mine as we all know they are owned. That said, markets are markets – I dont look to confiscation at this point except around the borders and periphery – such as margin trading and opportunities like these. I suggest folks might consider that TD and others who have ZERO prop trading desks are better than others. Each person needs to be careful – but also realize that fear porn is used by all sides. No one of this world is pure – in absolute form – and not everyone outside of this world is either. Hopefully most of us do our best to regard our fellow man with good thoughts and respect – but I still caution that a little information misused is still steering the sheep. Theft and lies are despised, but careless information that has similar impact should also be looked upon very suspiciously. Who can one trust? Educate yourself and filter with both mind and soul.
oh – I forgot to mention / upon violently roiling the market – interest rates would go to 3.5 overnight / death to the feds instantly, they would have raided only to find “their” penalty very costly, unless of course – they defer the interest. AKA theft. Perhaps Jim needs to expound on the scenarios. I like Jim, read his site – but there is simply too much to this to make it a sound bite. And – sorry Home Land Security – but no one is going to cooperate with the military, the govt, the wars, your agenda – upon being thieved and lied to openly. We dont mind being lied to cleverly – just not like fools.
Best to you / and – too much anger for me to get to that 4th level. I need some herbs.
Hi JT, you are forgetting the theft of the MF Global funds from personal accounts, and the recent federal ruling that bank accounts can be raided by the banks WITH NO PENALTIES attached. This is the set-up to allow them to waltz in and raid retirement accounts with impunity.
I certainly cannot answer for Jim Sinclair and why he chose to put the warning out without elaboration. Nonetheless, it seems to me the fact that types like Soros are moving out of the USD into gold and silver suggests that there will be little to no impact on those holding metals, contrary to your supposition. The USD – while it remains the largest of the world’s reserve currencies – cannot be taken down overnight in a format similar to the fall of the German mark. There are too many global contingencies attached to such action. Nonetheless, the wicked ones ARE setting the stage for the further rape and pillage of the American middle class, and, like Social Security, the retirement funds may simply be too tempting to leave intact. It is also a fact that if they don’t eviscerate ALL America’s wealth this country will not fall to the international banksters but will be able to rebuild itself from within. Blessings, G
Hey Gillian-
Why doesn’t Jim mention that doing so would crash markets, including the metals. An act such as this would absolutely violently roil the markets. Failure to mention this shows dubious merit to the mention.