August 26, 2010 Anti-Americanism Criminal Finance New World Order Obama 0

Government wants your 401k.

The gov’t is going tos tart converting your 401k to bonds.  Guess what happens when the US debt load(currently at over 25 trillion or more) get too big?  The gov’t defaults on the bonds and your retirement is worth bupkis.  Karl Denninger over at the market ticker called this last year that this nonsense would be starting.  I’ve been advising my wife based on Karl’s impressive record for accuracy to put as little to nothing into that 401k as possible.  It is now time to get out of 401k’s altogether.  I started a forum thread over on the ticker’s site…let’s see what goes on over there.