By: Ken Williams
Over the past many years I have been asked if Washington would eventually confiscate retirement accounts. My thoughts concerning this matter and how the scenario may play out goes as follows:
Governments begin defaulting on their debt and the dollar has lost reserve currency status.
The President stands at the podium and begins notifying Americans that our nation has reached a perilous economic juncture. He commends himself and his political cronies on a job well done and goes on to tell listeners that Washington has always served the best interest of working class Americans. Speaking in economic mumbo-jumbo that is sure to confuse listeners he tells us, “America i.e. Washington has always had your back, now it’s your turn to have our back”.
The President will appeal to American patriotism and tell us convincingly that “America” needs us to come to her rescue in time of need. Blame will more than likely be placed on foreign nations as a prelude to being asked that we “voluntarily surrender” a portion of our retirement accounts. Of course any investment will be insured by the good word of Washington.
In a closing statement intended to conjure heroic thoughts from the past we may be reminded that our Founding Fathers gave their all. Appealing to viewers with hand over heart, I am asking all patriotic Americans to fulfill their duty to this great nation. This implies that those who refuse Washington’s call for help are not patriotic. Maybe even Benedict Arnold’s.
Think this could never happen? It already is. According to the AP today, Obama is now questioning the patriotism and citizenship of U.S. corporations who are looking to set up shop abroad because our corporate tax rates are destroying their ability to remain profitable. Obama is even calling for “economic patriotism“.
Guilt works so much better than forceful confiscation. Besides, should Washington attempt to enforce mandatory confiscation it would usher in civil war. When an individual is backed into a corner and can no longer provide for their family or themselves there may be no other option.
Gold Goliath is not your typical gold dealer.