Although previously issued stock certificates are still valid. Some boomers have stock certificates from 50 years ago sitting in a safe.
The Coming Confiscation of Financial Assets
- Thread starter mr2
- Start date
There won't be enough money at that point and/or legislation will come in where they'll be disallowed. If it happens in the blue breakaway regions no one will even care.
Do you realize the next problem with that? You have to hire lawyers for it. Good luck with using "law" in a world where law already went out the door.
(((The Great Taking))). Listening to this conversation I just kept thinking of chutzpah.
Do you think this will happen? Wouldn't pitchforks come out?
I have been wondering for a while why the pitchforks haven't come out.
I'm not a big fan of retirement accounts anyway(I'd rather take cash now and do something with it, bitcoin, real estate, buy a business, etc) but for a lot of people, 401k's are the best option. If you aren't entrepreneurial with your investments, or if your job pays well but is consuming and you don't have time for it, stacking it away makes sense. Or if you know you are "bad with money" and you can discipline yourself with automatic retirement contributions.
Anyway, this is terrifying:
Pay wall, but the first paragraph seems to suggest that the TAX man cometh and VERY soon. Historically, this is due and with the debt situation, it's a guarantee in my view.
Link with no paywall: https://archive.is/jdfPv
I didn't really understand what that is really telling us that is new. Perhaps I don't trust the swamp to not steal most of the future withdrawals via higher tax rates, at a minimum, anyway. It's still amazing to me that BTC is a hard sell to people when the writing is so obviously on the wall in just 10 years - and that's if we are lucky it takes that long.
president
Heirloom
There are many layers to this onion. On one end of the spectrum is the idea of not buying ETFs and only owning individual shares of companies. On the other side it's gold bars in your safe. What do you ever really own? I do think hard assets will become much more preferable to paper assets, and will perform better too.
I think the confiscation can be accomplished through inflation, which is a tax but also theft, as well as through over leveraging your populace to the point of needing a 'jubilee' - which only further consolidates wealth and power (see student loan fiasco).
I think the confiscation can be accomplished through inflation, which is a tax but also theft, as well as through over leveraging your populace to the point of needing a 'jubilee' - which only further consolidates wealth and power (see student loan fiasco).
It's comical that these posts are right next to one another.
Bitcoin might not be the only solution, but it at least makes an elegant case.
So would you agree that converting your 401k into silver would be a good plan?
president
Heirloom
I love silver but I would not recommend that approach. I think it would be a terrible idea actually.
I used to like gold, silver, and figured other precious metals made sense too. Something tangible.
The arguments for precious metals were a gateway for me. I owned some precious metals ETFs, and then a friend made arguments for bitcoin. I had a number of arguments against them, but after learning a bit more with an open mind, I became a believer.
Also, I think that the S&P500 is still a great investment. It's the simplest thing out there. At least it keeps lock-step with the Fed balance sheet, so if they print more money, S&P500 number go up.
So, my favorites are:
1. bitcoin
2. S&P500
3. residential real estate
4. cash flowing businesses
Gold, silver, etc never actually go up. People mine more of it, and the price inflates.
If you have enough of those 4, the gov't will struggle to take all of it from you. Especially bitcoin.
Did you see the pitchforks during the "pandemic" which was a trial for the coming confiscation?
* also regarding 'retirement'; imagine a world where the people who want you to die early hold your savings in a retirement fund.
11% of my income AFTER tax gets taken away from me here for others to invest. Why am I being treated like a child who has no understanding of finances? Is there any insurance for other brats playing with my money? Of course not.
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president
Heirloom
Something important I try to remember is that you want to be set up to function within the system, while having contingencies outside of the system.
For example, central banks all still invest in gold, with the BRICS focused on purchasing more lately.
Gold is also a Tier 1 asset - practically the only other one besides cash. So while it may seem esoteric to buy bullion in today's modern world, the actual system we function in has very much stuck to tradition when it comes to hoarding gold - and for over 10 years now has considered gold equal to cash (with zero risk weight adjustment).
If you went to a bank for a working capital loan let's say, and showed up with a Michael Saylor-esq balance sheet, that BTC is going to get written down heavily and maybe even entirely.
Just something to keep in mind. Play both sides of the field and be prepared to take advantage of opportunities in the current system while protecting yourself against black swans like a collapse of the system.
This just is an example and could apply to lots of assets so don't take this as a btc vs gold post because I like them both and see them as tools with unique purposes. It's a very nuanced discussion and I think the general tendency is to attach to one school of thought, and in an attempt to maximize utility you actually minimize versatility. It's not something you want to get 'wrong'.
For example, central banks all still invest in gold, with the BRICS focused on purchasing more lately.
Gold is also a Tier 1 asset - practically the only other one besides cash. So while it may seem esoteric to buy bullion in today's modern world, the actual system we function in has very much stuck to tradition when it comes to hoarding gold - and for over 10 years now has considered gold equal to cash (with zero risk weight adjustment).
If you went to a bank for a working capital loan let's say, and showed up with a Michael Saylor-esq balance sheet, that BTC is going to get written down heavily and maybe even entirely.
Just something to keep in mind. Play both sides of the field and be prepared to take advantage of opportunities in the current system while protecting yourself against black swans like a collapse of the system.
This just is an example and could apply to lots of assets so don't take this as a btc vs gold post because I like them both and see them as tools with unique purposes. It's a very nuanced discussion and I think the general tendency is to attach to one school of thought, and in an attempt to maximize utility you actually minimize versatility. It's not something you want to get 'wrong'.
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Completely agree with you. Bitcoin could be a "life raft" that we use to exit the system in some form of collapse, so I hold some.
Until that scenario really plays out, you need some amount of cash, you need a place to live, you need income unless you're already wealthy. Even if you are, you are probably best off putting most of that wealth to use with something that cash flows, like a business, rental properties, dividends, etc.
Confiscation of assets will not be "mass"
It's continuous and it's called tax, insurance and inflation.
If you "have" a house you pay municipal taxes and house taxes and insurance. This goes today for everything you "own".
So you might as well say, the confiscation has already happened.
You might own land, but you are not allowed to do whatever you want on the land, as the state has all sorts of regulations over YOUR land.
So who owns the land? Who decides?
I think "the great reset" is largely fake. Or the "CBDC". The dollar is a CBDC. We have no real ownership. And nothing needs to be reset as private control is extremely limited. They make us fear the "WEF" while we have an extended supranational body called the UN with all it's subsidiaries ruling the world.
It's a boiling the frog case. And they make us focus with propaganda on impending danger "CBDC", "WEF" "Great reset" we feel it's still OK.
It's continuous and it's called tax, insurance and inflation.
If you "have" a house you pay municipal taxes and house taxes and insurance. This goes today for everything you "own".
So you might as well say, the confiscation has already happened.
You might own land, but you are not allowed to do whatever you want on the land, as the state has all sorts of regulations over YOUR land.
So who owns the land? Who decides?
I think "the great reset" is largely fake. Or the "CBDC". The dollar is a CBDC. We have no real ownership. And nothing needs to be reset as private control is extremely limited. They make us fear the "WEF" while we have an extended supranational body called the UN with all it's subsidiaries ruling the world.
It's a boiling the frog case. And they make us focus with propaganda on impending danger "CBDC", "WEF" "Great reset" we feel it's still OK.
Why is that?