SOCIALIZED IRA’S April 2022
Your Bank and Retirement Accounts Just Got “Socialized”… Here’s How You Can Make Sure Your Savings Can’t Be Confiscated to “Bail Out” Bankrupt Financial Institutions…
You’re not going to believe this one.
If the world suffers through another financial crisis like in 2008-2009, don’t count on the government to bail out the big banks and brokerages.
Instead, the financial firms plan on bailing out themselves — by simply confiscating depositors’ cash in IRAs and retirement accounts.
That’s because your IRA has just been “socialized” ….
(Fortunately, there are steps you can take. There is a special type of IRA that takes your money out of the reach of banks or brokerage firms and puts YOU in control.)
If this sounds far-fetched, consider this:
It’s not just conservatives who are worried.
In an article entitled, “It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors,” the liberal Huffington Post points out that that banks and brokerage firms legally own their customers’ funds as soon as they are deposited. “Our money becomes the bank’s, and we become unsecured creditors holding IOUs,” the article states.
Until recently, banks and brokerage firms were required to return depositors’ money upon demand. But now that has changed.
First, the Money Market Reform Act passed by Obama mandates that, in the event of a serious financial crisis — such as occurred in 2008-2009, banks can legally delay giving depositors their money back.
And in a true financial emergency, government officials can even use depositors’ funds to rescue the banks themselves. This is what occurred with banks in Cyprus in 2013.
Second, the recent repeal of parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 allows banks and brokerages to engage in the risky financial practices that led to the 2008-2009 credit crisis in the first place.
For retirees, these two laws together could threaten their financial survival.
Retirees currently hold an estimated $26 Trillion in Retirement Assets including IRA’s
During the next banking crisis, like what occurred in 2008, the U.S. government will not be able to spend or print its way out of the crisis.
Rising interest rates and a national debt now over $31 trillion will see to that.
Instead, the financial firms plan to use a portion of their depositors’ own funds to “tide them over” until the crisis passes.
If you happen to need your money right away, you’ll just have to wait. As an “unsecured creditor,” you must get in the back of the line. Think that can’t happen? Well, it already has! The individual threshold for IRS reporting on U.S. deposits is $10k, and that plus interest rates below zero are just the start of big brother watching your money as banks have become the enemy not the solution they once were!
According to the Christian Science Monitor, Hungary recently made retirees an offer they couldn’t refuse: hand over control of their private savings accounts… or the government would take away their state pensions (Social Security).
In Ireland, the government confiscated 6.5 billion euros from the National Pension Reserve Fund (Social Security) to bail out Irish banks.
In France, the government did the same thing… only it was 33 billion euros…
But there is good news: There is a special type of “self-directed” IRA that lets you take back control of your savings from the banks and brokerages — while also potentially making windfall profits in the process.
What is this self-directed precious metals IRA? It’s the practice of buying precious metals yourself PRIVATELY and owning them to grow on YOUR timeline. No 3rd party bank / investment firm , no annual fees, no social security number and it’s the easiest way you can convert part of your bank or IRA funds into physical assets like U.S. gold and precious metal coins. Plus, the best part is the greedy banks can’t touch it BECAUSE YOU OWN IT PRIVATELY!
ALL banks and brokerages are now vulnerable to another global collapse. CASH alone deposited with those entities is not enough , but certain U.S. Gold, Silver, Platinum, AND NOW Palladium coins that can be purchased privately ARE AND HAVE BEEN ENOUGH FOR YEARS. Think about this , back in 1964 the U.S. made the last of the 90% silver JFK half dollars and gas was 30 cents a gallon, that’s (3) gallons per (2) half oz. 90% silver coins. Today those same (2) 1964 JFK half dollar 90% silver coins are worth approximately $20 and buy (4) gallons of gas at now $5 per gallon! That example is not just a hedge to the same amount of paper money , it’s an actual increase in buying power from the silver content of the coins!
NOTE : While the economy appears strong, we’ve learned before it’s not how much you are up rather how much you walk away with. — an “unknown unknown” could easily trigger another financial crisis, like the war in Ukraine.
When the next big correction happens, you won’t have time to get your money out of the clutches of the big banks and failing financial firms. Why? Because the U.S. can’t just print money and bail out the banks anymore, that’s why!! They will come for your money next, unless you have a private plan B…maybe one with U.S. Gold and precious metal coins.
Prepare yourself.
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com