Written by Damon Geller
Governments have been confiscating citizens’ savings for decades through deficits, inflation and outright theft, and it's about to get worse. Bankrupt governments will do whatever is necessary to survive and feed the welfare state, and they have never been more bankrupt than they are right now. Look no further than Poland confiscating half of citizen pensions. If you knew the government was going to steal your savings from you, would you do anything differently to protect your savings now? It’s an important question to think about now, because they ARE coming for your money, and some newly-discovered facts prove it.
|“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process.” -- Alan Greenspan|
The Fatter the Government, The Skinnier the People
The U.S. Debt, not including unfunded liabilities, is over $17 trillion dollars. The sociopaths who are driving the titanic will be arguing over raising the debt ceiling again. If we look back to September of 2011, which was the last loud debt-ceiling argument, gold rose 21% in a period of three months while politicians caused a major corrosion of confidence in our leaders. When governments are broke, everything is fair game.
Government officials are parasites; they don’t produce anything. They only feed off of those who do. As one person said, the fatter the government, the skinner the people. And when government officials cannot meet their obligations or fulfill the promises they made to the public, they’ll figure out ways to appropriate the public’s money to fund their projects. Government officials don’t produce wealth; they only redistribute your wealth. Desperate government officials will always resort to expropriation, which is outright confiscation.
If the Federal Reserve is currently buying 90% of the U.S. Treasury market and they are going insolvent, who do you think the government will lean on to pick up the slack? The answer is YOU. Ten thousand Baby Boomers will turn 65 years-old every day until 2030. And while the government has a debt problem of $17 trillion, not so coincidentally, our country's IRAs, 401Ks and retirement accounts amount to that same number: $17 trillion. What a convenient resource for the Federal Government.
So here's the plan: The government will nationalize retirement accounts like IRAs, 401Ks, pensions, 403Bs, etc. so that you will be forced to use a portion of your retirement wealth to purchase U.S. government debt – debt that will ultimately default, as it is not possible to sustain our astronomical debt nor the deficits that create it. This plan was set in motion during the 2014 State of the Union Address, when Obama suddenly announced the creation of the MyRA: Your Savings Pays for U.S. Debt!
The IRS Greases the Wheels of Confiscation
The IRS is refusing to issue tax ID numbers for single-member LLCs that are owned by an IRA, which is the specific structure that U.S. taxpayers create in order to ship their retirement savings overseas. Of course, the IRS simply decided using its sole discretion to stop allowing Americans to create this structure, and hence, force them to keep their retirement savings in the U.S. Without getting into too much detail on these structures, the bottom line is that the methods by which you could manage your own IRA and keep it out of the hands of the too-big-to-fail banks, and thus away from the grabbing hands of government, are being blocked in an effort to keep all that wealth accessible to the government.
Many People Have Been Robbed Already
Detroit’s bankruptcy destroyed many people’s pensions. In Cyprus, the government raided people’s savings accounts in an example of outright theft. And right here at home our too-big-to-fail banks, like BofA, Citigroup, HSBC, Goldman, Wells Fargo, JP Morgan Chase, Goldman Sachs and several others, are right now being investigated for robbing pensions via the rigging of interest benchmarks, among other investigations of fraud. JP Morgan Chase, in the last two years, has paid $7 billion dollars in fines for fraud.
Yet these parasites remain in power, have had no further regulation placed upon them, and continue the same (or worse) risk tactics that led to the financial implosion of 2008 and subsequent taxpayer-funded bailouts. These criminal organizations look more like organized crime syndicates than legitimate businesses. Yes, these are the same folks who are in charge and in possession of your wealth. Whether you have your retirement funds in a money market, the stock market or the bond (debt) market, a bank or bank holding company hold and controls your wealth. This means that when Wall Street, which relies on an incestuous relationship with the U.S. government, is asked to hand over access to your money, it’ll be a simple as a keystroke.
The Greatest Heist in Human History
In 1966, before Alan Greenspan became the Federal Reserve Chairman, he wrote an essay called “Gold and Economic Freedom.” In this essay, Greenspan explains, the gold standard limited government spending to the amount of gold held in reserve. However, The gold standard was also unprofitable to the international bankers and the crooked government they collude with. So the central bankers, in collusion with devious government officials, embarked on the greatest heist in human history, to repeal the gold standard. Stopping at nothing, they attacked and crucified anyone who opposed them. Eventually, the gold standard was repealed, the citizens' gold was confiscated, and a debt-based economy was born.
All the subsequent government deficit-spending and money-printing that followed the abandonment of the gold standard led to the Great Wealth Confiscator: Inflation. Inflation raises the cost of goods, while reducing purchasing power. And massive money-printing always ends in hyper-inflation, which typically causes the price of gold and silver to grow exponentially.
How to Free Yourself from This Monetary Corruption
Create a gold standard for your own money and take a portion of your wealth out of the system. One self-directed IRA option that is still within your total control is the physically-backed gold and silver IRA. Physical gold and silver in your IRA is held by a private custodian who is insured by a private insurer and is NOT controlled by the government. A gold or silver IRA protects your wealth from being confiscated and also adds a strong measure of inflation-protection. With a gold or silver IRA, you convert your wealth to the one asset that does not exist in the computer of an insolvent bank or broke government.
There is a finite window of opportunity to safeguard your wealth, preserve your freedom, and ensure your family’s future security.