Thread: Bob Chapman - Feds Going After Your 401-K's

Market Havoc and Threats to Your Pension

An excerpt from Bob Chapman's weekly publication.

September 17 2011: Looting the 401k's has started, the government wants your taxes and retirement, Greece awaits default, and Pandora's box will open, Europe financially upside down, NYC legacy banks could lose billions, no COLA increase for retirees.

We have warned subscribers and listeners and those on the Internet over and over again that government was going to come after your private retirement funds including 401K’s and IRA’s that hold $6.6 trillion in investments.

This past week in a grand deficit cutting bargain the Senate Finance Committee explored “Tax Reform Options Promoting Retirement Security.â€

Originally Posted by AirborneSapper7

It is called a looting procedure.

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401k retirement savings accounts are PRIVATE accounts. What authority does the government have to go in and LOOT private accounts?

This is no different than the government going straight into your checking account and declaring an inadvertent dollar amount withdrawal, with the amount being decided by some greedy politician.

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[quote][i][b] “If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.â€