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Would This Start The 2nd American Revolution?

carbinemike

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Staff member
Global Moderator
"Philanthropist"
What would happen if you woke up one morning to find half of your bank account, 401k and any other wealth you had accumulated half gone, removed from accounts while you slept by the US government. The money was already transferred to those we owe to keep them loaning us at low interest rate. It was done via a new "tax" brokered, passed and signed by the President in a middle of the night back room deal with Congress. We are told that it had to be done. We were facing out of control hyperinflation due to our debt load and if we didn't pay up we were facing a collapse of our entire financial system. It's a gamble the democrats and republicans had to try. The other options were: 1) stop borrowing money and watch society collapse as the welfare state dries up 2) borrow at higher and higher rates and watch society collapse under inflation and a debt burden we can't continue to pay. The government gambles on the money grab and hopes that they can hold it all together.

The International Monetary Fund (think financial arm of the UN) is now proposing this kind of money grab for countries facing high debt and high inflation (sounds like the USA). High inflation is where we are the moment that the banksters at the federal reserve stop printing money. The IMF previously pushed budget cutting and fiscal responsibility for countries in debt but are changing their tune to a more socialist ideology...transfer of wealth. I think the liberals we would love something like this. Barry is on record as saying 401k's aren't fair because not everyone can afford to participate.

I think it would start the 2nd American Revolution, SHTF, Civil War II...whatever you want to call it.

http://www.forbes.com/sites/billfre...he-groundwork-for-global-wealth-confiscation/
 
MossLvR said:
Just an FYI, this was already done by Wall Street.........it was called the bailout.

Good point MossiLvR but wasn't that a more indirect theft with an infusion of printed and borrowed cash? This would be a direct theft from all Americans with an account somewhere. You have $100,000 in a 401k when you go to sleep and $50,000 when you wake up.
 
The Lady stands in NY Harbor. This is the Year 01.

It was the time of the preacher in the year of 01.
Now the lesson is over and the killin's begun.

[youtube]http://www.youtube.com/watch?v=55Z2UQTdRfA[/youtube]
 
All the more reason not to keep too much in the bank. I don't have much in the way of savings in the first place and will rely more on self-reliance as a means of retirement than the monetary system. Grow and raise my own food... Barter and trade for the rest.

All that aside, I would guess that around 25% of Americans would stand and fight... 50% would sit on their ass and either complain or be indifferent about the situation... 15% will back the Feds or are the Feds and protect the system... The remaining 10% will die within one week.
 
AK, I obviously wonder how it would go down but it seems obvious that the farther one is from civilization the greater the odds of survival. I wonder if 10% may be to low of a number should it fall apart. I also wonder if taking half of ones wealth would drive us to the abyss? Would it take plundering 75% of our wealth? 90%? How much would be the tipping point?
 
carbinemike said:
AK, I obviously wonder how it would go down but it seems obvious that the farther one is from civilization the greater the odds of survival. I wonder if 10% may be to low of a number should it fall apart. I also wonder if taking half of ones wealth would drive us to the abyss? Would it take plundering 75% of our wealth? 90%? How much would be the tipping point?

IMO, I believe it would take more, maybe 75+ or more. 50% would still give many of the younger generation a hope of recovery despite their rage at the disdain shown them by their own irresponsible government.

For the uber wealthy...it won't matter much because I'm sure they'll be well insulated from any chilly breezes blowing over their backsides...unlike everyone else.
 
You have to read this Forbes article carefully to understand what is being defined as wealth. It's far more than just cash in the bank or under your mattress. It includes land, or other assets that contribute to your net wealth ( net worth in more familiar terms). A car with a clear title for example, or equity in your house and so on. This would hit farmers very hard since they often are land rich and cash poor.

The other question is who would be calculating your net worth? Would they allow the individual to do it? I rather doubt it.

Let's say you own 100acres of farm land and associated heavy equipment, house, barn, etc. in Iowa, all of it free and clear that's been in your family for a couple generations. Your land is assessed at $10k/acre (not unusual these days). Boom, you're a millionaire according to your net worth. So you get slapped at 10% -- $100,000. But you likely have only $30k or so available cash. You either have to take out a loan to pay that tax bill, or sell off most of your property and move into a apartment in the city. Or the Govt put's a lien on it or outright confiscates it.

I don't think it would sit well with anybody I know.
 
I brought this topic up a couple of times already. It has been done to Cyprus by the EU...20% off the top of EVERYONE'S accounts in the country. Banks closed and weren't allowed to open until it was done. Customers were only allowed to take out a miniscule portion for food. Then there was talk of it happening to Greece when they were fighting for bailout money. Fortunately, it didn't happen to them.

Yeah, I know, we ain't Cyprus but there is nothing to stop the big world banks for doing the same thing to us. Money talks and ...

It's all about control. If the country's leaders did not accept the proposal they would have been left to figure it out themselves. Our leaders have shown they can not figure out anything on their own. Every decision they make puts us further and further into the hole.

Time for everyone to CYA with their hard earned money. Not much you can do with 401k's or IRA's but savings can be protected. The downside would be that there is not enough $$$ in the banks to cover everyone's withdrawals and the banking industry could collapse...they use our money to make them money and pay us a fraction of what they make.
 
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