Could Uncle Sam Steal Your 401k?

world currency watch (November 6, 2009)

Leading Retirement Expert in Los Cabos Says “YES”

Is the Federal Government secretly planning to confiscate your retirement plan?

According to Larry Grossman, a favorite speaker here in Los Cabos this week, the answer is… yes.

He compares this shocking attack to a classic battlefield maneuver from the late 1860s. At the time, the U.S. Government’s chief domestic threat was Native Americans.

But instead of going after the Native Americans directly, the U.S. government decided to kill off their chief food source: buffalo.

This strategy was wildly successful.

And today, Larry believes the FDIC will use a similar approach to deter offshore investment. Recently, the agency fired a warning shot. They announced an audit of all IRA Custodians in 2010…

By declaring offshore investments to be “high risk,” they’re effectively ratcheting up the pressure on banks and IRA custodians… and forcing them to rethink their involvement with anything offshore. At some point, Larry says, the expenses associated with offshore investments may explode. This will force custodians to cut off access.

And like the once mighty buffalo, they’d be killed off.

Think that’s bad? Well you’re right. But it could get even worse!

A second threat is also moving into view. There’s mounting evidence that the government will use the current financial crisis to “prove to you” they can manage your retirement plan better than you.

There have been hearings in the House of Representatives where the phrase “confiscation of retirement plans” has been uttered.

The effect could be disastrous… with aggressive investment restrictions imposed by a “retirement plan czar”… that could force Americans to accept 100% exposure to the dollar. Worst-case scenario – everyone’s retirement plan would be invested in 30 year Treasuries.

Think it can’t happen?

Maybe you’re right. But if Larry’s prediction comes true and you’re not prepared, the damage could be irreversible.

That said, in any battle, if you can recognize your enemy’s tactics early on, you have the best chance of winning.

And boy, have we got some powerful (yet legal) weapons to choose from. To read our full report on how to shield your retirement plan today, click here.

Once again, from on the ground in Los Cabos…
Patrick Bove, Your Conference Insider

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