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IPFS News Link • Economy - Economics USA

Treasury to Force IRA and 401k Money into Treasury Securities

Forget about hedging inside your 401k and IRA against inflation. Sooner than you think, you will not be allowed to own gold ETF's, gold mining stocks or gold related mutual funds in your 401k or IRA. There is under the radar plotting by Treasury to force IRA and 401k money into Treasury securities. They still don't have all the kinks worked out on how they will sell the deal to the public, so now, the links to the stories reporting on the Treasury plans, by Rick Santelli at CNBC, BusinessWeek, and MSNBC, are disappearing. Karen DeCoster reports: I’ve been covering the topic of government-mandated 401Ks since the fall of 2008, and I even noted that I detected the unmistakable whiff of confiscation in the air. Writers and bloggers all ’round the ‘Net denied that point. To revisit this issue, let’s take a look at a post from last month by Karl Denninger at Market Ticker titled, “401k/IRA Screw Job Coming?” Karl notes a bit that appeared on CNBC where Rick Santelli was discussing the potential to “effectively force money into the Treasury market.” He links to this quote from Businessweek:

2 Comments in Response to

Comment by Ross Wolf
Entered on:

It was bad enough Obama’s kamikaze economic polices are destroying America. Now the Treasury Dept. may intent to force Americans to invest their retirement in Obama’s Treasury Bills instead of gold, while Obama steals the value of their money printing worthless currency. Obama will soon need Americans' assets. Socialists historically after getting into government, thrive like cancer—targeting healthy economic markets and individuals with higher and new taxes and regulations to pay for their public programs. 

Comment by Trouser Chili
Entered on:

I am seriously considering liquidating my 401K.  I have already stopped contributing more money.

Consider also these interesting tidbits:

You are taxed on the money when you withdraw it in retirement

Most people only use up a small % of their 401Ks before they die.  What remains is taxed TWICE!  Once to pay all those deferred taxes that have been accumulating, and again as an estate tax.  So your family will get a small % of all of your hard-earned 401K money when you die.

Anyone else thinking about liquidating, or have done so?