Apr 24

Before you dems get too riled up, consider: FDR confiscated gold during the depression. He paid people with US dollars, which he promptly devalued:

http://www.fgmr.com/confiscation.htm

Facing a worsening liquidity crisis, do you worry that Obama would confiscate our retirement accounts, giving us a devalued promissory note in return?


18 comments so far...

  • Reality has a Liberal Bias Said on April 24th, 2010 at 4:00 pm:

    Get your Senators to vote for the stimulus package, and he won’t need to.

  • pokerjoev Said on April 24th, 2010 at 4:56 pm:

    Yes, like Bush was worried about yours.

  • Forget War Buy More Said on April 24th, 2010 at 5:01 pm:

    What IRA? My retirement fund has been bleeding since this crisis began.

  • wyldfyr Said on April 24th, 2010 at 5:18 pm:

    Most of our IRAs have already lost 40 to 60 % of their values.

  • Liberal AssKicker Said on April 24th, 2010 at 5:43 pm:

    Yes.

  • paul g Said on April 24th, 2010 at 6:03 pm:

    TERRORISTS ARE BAD… AND THE IRA IS GONE AWAY….LEAVE IT

  • Fred K Said on April 24th, 2010 at 6:19 pm:

    you had a better chance of that happing with bush in office and with him putting this country 7 Trillion in debt he all ready did you just don’t know it yet

  • Duchess X Said on April 24th, 2010 at 6:25 pm:

    He’s not going to confiscate them. Total BS

  • im_foxygirl Said on April 24th, 2010 at 6:34 pm:

    Bush policies have sucked up alot of retirement plans.
    You sure you still have one?

  • tribeca_belle Said on April 24th, 2010 at 6:50 pm:

    Yes. FDR’s New Deal also instituted agencies like the FDIC which prevents the runs on banks that occurred in the Great Depression. People lost their entire life savings that they thought were safely deposited in banks.

    Before you create negative and absurd scenarios, perhaps you look at what was done by FDR to restore confidence in the financial institutions and in the country during this country’s worst economic crisis. The people who were chanting deregulation up until a short while ago helped contribute to our current dire economic situation by removing some of those safeguards that were put in place by FDR.

  • Cat - astrophe Said on April 24th, 2010 at 7:05 pm:

    If you still have one, you didn’t learn your lesson last fall. Bush and Obama have laid the groundwork to ‘re-distribute’ all of America’s wealth right into the hands of the World Bank. Take the penalty and get out while you still can. I know many who did and invested their money in gold, silver, and survival gear.

  • Brown9500v1 Said on April 24th, 2010 at 7:08 pm:

    As long as he confiscates my my paper money and pays me in U.S. gold…no problem.

  • justagrandma Said on April 24th, 2010 at 8:05 pm:

    No. I don’t think that is anywhere on the agenda, Our government actually backs pensions even when the business goes under.
    Now in regard to IRAs and 401s, if you put money into the market you stand a chance of it not going up. THere is no government backing for that, its a legal gamble.
    Years ago I heard people on Wall St. say that you shouldn’t put money in that you can’t afford to lose, that remains true today as people have found their retirement fund have lost 20% or more of their worth.

  • Ricardo Libretto Said on April 24th, 2010 at 8:48 pm:

    I would doubt that the government would actually confiscate IRAs or retirement accounts, but they will certainly continue to slip in value until the next bubble–the question is when will that new thing begin so that the folks with money get in on the ground floor and let some of it trickle down to us.

  • Jacob W Said on April 24th, 2010 at 9:02 pm:

    IRA’s and 401k’s.

    *

  • porquemoi Said on April 24th, 2010 at 9:48 pm:

    No. In1993, Clinton was making plans to take 15% of every IRA and call it a one time deficit reduction tax. The only thing that stopped them was when the Republicans surprized them by taking control of Congress in 1994. Just look at all the Clintonistas that Obama has hired. Surely they remember, and this time they will see to it that the robbery is done before Republicans have the chance to take Congress back in 2010.

  • Witchy Said on April 24th, 2010 at 10:32 pm:

    No, they are definitely not safe. Nothing is safe.

  • Robert T Said on April 24th, 2010 at 11:16 pm:

    No, but if it’s any relief to you they are not worth much any more! Next week even less because of Hyper-Inflation. I believe that this is likely to happen, redistribution of wealth a campaign promise, in order to fulfill that statement confiscation of assets becomes the vehicle fuel.

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