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The Water Cooler
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Predictions for the rest of 2021
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<blockquote data-quote="JR777" data-source="post: 3552837" data-attributes="member: 45725"><p>I think it's definitely possible that they might come after 401ks, but I also think it's possible that they won't. Or maybe more likely that they would come after them in a roundabout way, like taxing unrealized gains.</p><p></p><p>One thing to keep in mind is that the government can print as much money as it wants, which effectively is the same thing as dipping into bank accounts and 401ks, but without the riots and inevitable supreme court hearings. So I'm not sure the juice is worth the squeeze in that regard, being that they have other ways to get at the money with less pushback.</p><p></p><p>I think the biggest danger of them confiscating 401ks would be from austerity. That is, if they were to decide to knuckle down and try to balance the budget and pay back the debt. That's the only scenario where money printing is off the table, in which case taxes would be their only source of funding.</p><p></p><p>As it stands, I think they're much more likely to simply destroy the wealth that's in 401ks, vs outright confiscating them. I think Biden was hired primarily to be a diversion, to create the looming threat of communism, when people should probably be more worried about big banks, big business, and a return to feudalism. While everyone is on Twitter fighting ghosts of the 20th century, the central banks are quietly taking over the world, literally.</p><p></p><p>Ultimately I think it's going to be Wall Street that gets the money in 401ks, and in bank accounts, too, for that matter. Most retirements are heavily invested in equities and other assets, so by shorting the market when the time is right, Wall Street can effectively confiscate all the 401ks simply by coordinating and inside trading. So a market crash followed by bank bail ins would effectively loot all the 401ks and bank accounts.</p><p></p><p>The real beauty of that strategy is that it doesn't require any acts of any branch of government. Dodd Frank already put everything in place for this to happen automatically, so no government or politician will have to make any unpopular decisions that might lead to an uprising. On the contrary, the government would be free to just sit back and give the people whatever they demanded, as inflation at that point would be in the central banks' interests.</p></blockquote><p></p>
[QUOTE="JR777, post: 3552837, member: 45725"] I think it's definitely possible that they might come after 401ks, but I also think it's possible that they won't. Or maybe more likely that they would come after them in a roundabout way, like taxing unrealized gains. One thing to keep in mind is that the government can print as much money as it wants, which effectively is the same thing as dipping into bank accounts and 401ks, but without the riots and inevitable supreme court hearings. So I'm not sure the juice is worth the squeeze in that regard, being that they have other ways to get at the money with less pushback. I think the biggest danger of them confiscating 401ks would be from austerity. That is, if they were to decide to knuckle down and try to balance the budget and pay back the debt. That's the only scenario where money printing is off the table, in which case taxes would be their only source of funding. As it stands, I think they're much more likely to simply destroy the wealth that's in 401ks, vs outright confiscating them. I think Biden was hired primarily to be a diversion, to create the looming threat of communism, when people should probably be more worried about big banks, big business, and a return to feudalism. While everyone is on Twitter fighting ghosts of the 20th century, the central banks are quietly taking over the world, literally. Ultimately I think it's going to be Wall Street that gets the money in 401ks, and in bank accounts, too, for that matter. Most retirements are heavily invested in equities and other assets, so by shorting the market when the time is right, Wall Street can effectively confiscate all the 401ks simply by coordinating and inside trading. So a market crash followed by bank bail ins would effectively loot all the 401ks and bank accounts. The real beauty of that strategy is that it doesn't require any acts of any branch of government. Dodd Frank already put everything in place for this to happen automatically, so no government or politician will have to make any unpopular decisions that might lead to an uprising. On the contrary, the government would be free to just sit back and give the people whatever they demanded, as inflation at that point would be in the central banks' interests. [/QUOTE]
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