By Silver Shield
Don’t Tread On Me Thursday, May 19th, 2011
Congress has proposed a bill that would make it more difficult for you to tap your 401K. The proposal would limit the amount of loans against the accounts and eliminate 401K debit cards. They of course are doing this to protect you from raiding your savings. The government does not want the sheep to get out of the barn before the slaughter. The bill would make it easier for people to pay back the loans, how convenient. (Do you sense my sarcasm?)
I have been warning people that the elite are not going to stop until they wipe all of your wealth clean. (Read: The Treasury Is Coming! and Got a 401k or an IRA?) They are running out of room to thieve to keep their system going and the last big juicy fruit is your retirement account. This could be your 401k, IRA, Social Security, Annuity, Pension or whatever. This is just another step to close the door and not startle you. They can force you to buy “safe” bonds after the Fed and the rest of the world refuses to buy them. They could tax the funds like Ireland is doing. They could freeze the accounts and hyperinflate away the value of the account. Either way, there is a target on your savings.
Many of the people I have been speaking with in my strategy sessions are telling me about how difficult it is to get their money out, even if they want to take the tax hit. Some have resorted to taking loans against their 401Ks to get to it, which is why this legislation is coming. They figure that if they can borrow against the funds at a low enough rate it might pay to get real physical silver before their retirement gets raided. Others are taking the tax hit after they realize how lucky we were that the Bush tax cuts got extended and that taxes or inflation may never be this low again. Throw in the very real possibility of the government seizing the entire accounts and it makes it that much more compelling to get out while the music is still playing. Simply getting the money out of the account is one thing, but the question still remains: what are you going to do with that money to protect yourself? Read the Silver Bullet and the Silver Shield for a great starting point.
Chris Duane writes under the pen name of Silver Shield. He spent six years researching and creating the Sons Of Liberty Academy. The academy’s sole purpose is to help people become aware and prepared for the mathematically inevitable world-wide fiat currency collapse. He is currently writing publicly at Don’t Tread On Me, one of the fastest-growing blogs on the internet.