Fearing The Bottom Will Fall Out If Interest Rates Rise

An excerpt from Bob Chapman's weekly publication.

May 21 2011: Broke Americans raiding their 401 Ks, Biden delivers report on middle class in America, the threat of rising interest rates, a contaigon of bankruptcy, big changes in commodities recently, a planned default for all nations, rigged markets, an unsuccessful relationship with Pakistan, gas prices to bring hardships.

The amount of money and people withdrawing from 401K’s has been staggering and Wall Street and government do not like it one bit. There are those who have been fired, run out of benefits, and half to cash in part or all of their retirement. The villainous ones are those still employed, who have taken up to three loans, many of whom have bought gold and silver with the proceeds.

That said, Senator Herb Kohl, Senator Mike Enzi have introduced legislation to limit citizens to tapping into their 401K’s, called “SEAL 401K Savings Accounts.â€