It’s only a matter of time…

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Full Article Here…

Now that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again. In fact, Cyprus-style wealth confiscation is already starting to happen all around the world. As you will read about below, private pension funds were just raided by the government in Poland, and a “bail-in” is being organized for one of the largest banks in Italy. Unfortunately, this is just the beginning. The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe. It is only a matter of time before we see this exact same type of thing happen in the United States as well. From now on, anyone that keeps a large amount of money in any single bank account or retirement fund is being incredibly foolish.

Let’s take a look at a few of the examples of how Cyprus-style wealth confiscation is now moving forward all over the globe…

*Note: Since I published this article, Fidelity has come out and said clients cannot invest in bitcoins in their IRA. I suppose somebody received a phone call.

Well this is simply huge. As much as many people want Bitcoin to simply go away (see my recent interview on the topic with Miles Franklin), it is simply not happening. This news represents a very, very positive development. Fidelity deserves a lot of credit for taking the lead on this. This is the first big, conventional firm yet in the U.S. to integrate/allow BTC.

From Market Watch:

Fidelity has partnered with SecondMarket’s Bitcoin Investment Trust to allow its clients to save for their retirement by putting the virtual currency in self-directed IRAs.

“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket, in an interview.

The Bitcoin Investment Trust is an open-ended trust that launched in late September and only invests in the virtual currency. The trust, which is only open to accredited investors, had $62.6 million in assets under management as of Tuesday.

In Liberty,
Mike

http://libertyblitzkrieg.com/2013/12/11/fidelity-now-allows-bitcoins-in-your-ira/

It seems to be official… IRA & 401k bail ins are coming soon. Protect yourself!

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A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.

“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explains National Seniors Council National Director Robert Crone, “However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”

http://www.nationalseniorscouncil.org/index.php/component/content/article/34-issues/social-security/89-obama-begins-push-for-new-national-retirement-system