How long till Obama decides that "taxing" everyones bank account 10% is a go idea and does it ?

j

I wish my money was only taxed at 10%!

I really do believe it will happen here

...that would be the end result of that action.

If that happens and americans sit on their asses without revolt, I will move soooo far away from this slab of earth.

Obama's "New Civilian Army" get's to start using those 1.5 billion rounds of ammo !

He doesn't need to. They can just make more hiding the actual theft. In this case buying power of the dollar. People will notice if you take it up front but, if you can take it from the back no one sees the theft. After all Barry has been stealing from you since coming into office. You just don't see the robbery.

Go Fed Reserve $1.2 trillion in January to some Euro banks alone let's not even talk about the propping up of the housing market each month.

I thought we were in full recovery with nothing but sunshine and lemonade in our future.

Catch up a little bit. They held hearings exploring the idea of raiding private 401k's and IRA's a couple of years ago.

Obamacare has a provision in it that the government has real time access to our bank accounts. All government employees will have access to all bank accounts, so what the government doesn't take, obama's goons will...they'll all be able to access the accounts and just take what they want.

A 1 % transaction tax is already being considered.
That means each check , each deposit, each and every transaction will cost you 1% each and every time.
It will happen. just wait.

Alinsky and Stalin would be proud of the Kenyan.

And that option is still on the table - but it's "hush hush".

They wont tax is outright 10%, what they WILL do is devalue it 10% which is a more hidden tax.

And they will probably devalue your money by much more that 10%, it will probably be in the neighborhood of 50% or more.

I agree after looking at this that this will eventually happen, along with a formal devaluation BUT...

What will happen first off will be the 'nationalization' of 401K, IRA's, etc. WHY?

1) They have been working on this plan at least since 2008 that I know of - 5 years. It is well established that this idea is in progress. At least a framework has been drawn up already.

2) It is a massive pool of unused liquidity they can use to buy treasuries. A fraction of bank accounts pales in comparison.

3) It does not seem nearly as much like a direct theft from a bank account to the average person. High early withdrawal taxes can be put in place at the right time that will eliminate a massive "run on 401K's", the mechanism is largely in place already, the percentage just needs to be raised - a bank tax would more overtly lend itself to creating a run.

4) FINALLY and most importantly - when we go through another collapse ala 2008, and people are left with 1/2 of their retirement, it will be more palatable when the government comes in and says "If you let us nationalize this - you will not be exposed to such risk." Anybody dumb enough to have a 401K will reluctantly eat it up, because they will falsely believe they have no other choice after being chewed up and spit out by the false market.

Trust me there is a contingency, a script in place for when this next stock market beating takes place - and it involves retirement nationalization.

But yeah, it is a waiting game at this point, it could be 5 years - could be tomorrow morning. Financial collapse is no conspiracy - we are LIVING IT RIGHT NOW. We are in the overt money printing phase of the death spiral - except the printed money largely isn't being directed into the public's hands - its being put into the ponzi.