Search Results for: IRA nationalization

On Markets, Manipulation, Regulation, and Nationalization

…Brothers in 1980. At the risk of sounding like someone from the Tinfoil Hat crowd, there are also persistent rumors of the Federal Reserve buying up stock shares. This has been attributed to the President’s Working Group on Financial Markets (commonly called the Plunge Protection Team.) The Fed is also very quiet about what it calls Permanent Open Market Operations (POMO). And of course the same net effect has been accomplished indirectly on a grand scale through massive infusions of credit, via the Quantitative Easing monetization mechanism. (This is where money is created ex nihilo as the government buys its own debt.) Another threat to free markets and investor freedom of choice is a legislated nationalization of our IRA and 401(k) accounts. The estimated $14 trillion in those accounts are the choice fruit that some in government have been eyeing for many years. If enacted, a nationalization scheme will likely…


Changes for 2011, The Taxman Cometh

…IRA that I set up many years ago, through Swiss America. It was established when I worked in the corporate world. Yes, I know that I will be penalized, but I thought it was important to take the IRA distribution income in tax year 2010 instead of tax year 2011, under the higher rates. Thankfully, the value of my gold IRA has gained substantially in recent years. (A large potion of the gold in my IRA was purchased back when gold was less than $375 per ounce.) So even with the withdrawal penalty I’m still coming out well ahead. And again I’d rather pay the tax on the “cash out” at the 2010 tax rate rather than the higher 2011 tax rate. By the way, I had already considered closing out my IRA because of persistent rumors of nationalization of IRAs and 401(k)s, but the recent news of the higher…


The Time Has Come To Fully Diversify: Retreating From Banks And From The Dollar Itself

The recent political crisis over the delayed raising of the U.S. debt ceiling was just a precursor of a much larger crisis that will occur when interest rates inevitably rise. Once they do rise, it will become impossible for the Federal government to service its debt without massive monetization and concomitant mass inflation. There may also be some draconian stopgap measures such as levies on bank accounts (a.k.a. “bail ins”), nationalization of private pension funds, nationalization or forced common stock purchases for IRA and 401(k) plans, currency controls, bank holidays, bank withdrawal limits, currency recalls, limited access to safe deposit boxes, IRA and 401(k) withdrawals limits, and perhaps even another ban on privately held gold bullion. For the past seven years I have urged my readers to diversify their investments out of U.S. Dollars and into tangibles. I am now repeating that with an even greater sense of urgency. It…


Economics and Investing:

Several readers recommended an excellent “must see” video that was produced by the National Inflation Association, titled: The Meltup By way of the No Money No Worries blog, we found this Four Big Banks Score Perfect 61-Day Run. Something is rotten in Denmark on Wall Street. (Thanks to Geoff in Texas for the tip.) Blood in the Streets! Bank Bailout Protesters Storm Ireland’s Parliament. (Thanks to Kathryn D. for the link.) Danny B. flagged this: 401(k)/IRA Nationalization Quietly Moves Forward Gary E. sent this: US faces one of biggest budget crunches in world – IMF Items from The Economatrix: Government Data Shows Solid Recovery But Concerns Remain. [JWR Adds: I would counter that the apparent “Recovery” is nothing more than a short term artificial blip created by hundreds of billions of stimulus spending amidst the early stages of a deep, long-lasting Depression.] Big Seller in Market Drop Identified as Waddell…