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Government Lays Groundwork To Confiscate Your 401k and IRA: “This Is Happening”

by Mac Slavo, SHTFPlan:

This morning Reuters obtained a leaked proposal disclosing that European Union officials are looking for new and innovative ways to fund their immense debt levels. As noted by Zero Hedge, they’re no longer turning exclusively to central bankers to simply print more money as needed. Because last year’s bank bail-in forcing the confiscation of funds from average depositors in Cyprus worked so well, EU regulators and bankers have determined that they’ll use a similar method to fund their future endeavors.

In a nutshell, and in Reuters’ own words, “the savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.”

The solution? “The Commission will ask the bloc’s insurance watchdog in the second half of this year for advice on a possible draft law “to mobilize more personal pension savings for long-term financing”, the document said.”

Mobilize, once again, is a more palatable word than, say, confiscate.

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5 comments to Government Lays Groundwork To Confiscate Your 401k and IRA: “This Is Happening”

  • Hoser

    Glad I cashed-out most of mine 2 years ago.

  • jonathan

    Well it does say the word ‘supremacy’ in the constitution therefore Obama has the supreme right to do anything he wants. Right?

  • Ed_B

    “Mobilize, once again, is a more palatable word than, say, confiscate.”

    Yes, just as “confiscate” is a more palatable word than, say, “theft”.

    “This morning Reuters obtained a leaked proposal disclosing that European Union officials are looking for new and innovative ways to fund their immense debt levels.”

    Too bad that they (and we!) are not as aggressive at finding ways to do the same or more with less and cut these ridiculous spending levels BEFORE they destroy our nations.

  • Watch our new video on the 401k Scheme and Potential government confiscation:

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