Long Position on Silver and Gold?

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Originally Posted by TRnCO

If you truly believe that there is an "excellent chance" of the incoming admin. of stealing your, and everyone else's 401K, why wouldn't you pull out now. Why risk it?

Personally, I guess I am in the group that you will LOL at. Because I just don't see it happening. I mean come on, talk about pissing people off, lots and lots of people. It seems to me that it would be political suicide for any politician, Dem or Repub. to try to do it.

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Your probably right, What Democrats will do is make it very painful whenever you decide you want to cash out. Plus Taxable deductions would dwindle, if they have their way, they'll resort to double taxation , of course why not tax three times, Gold is to protect against a failed Currency, Democrats being fiscally responsible won't spend us to ruin after all how many wealthy Democratic controlled cities are there, Zero. Yes Fun times a head.

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Quote:

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Originally Posted by TRnCO

If you truly believe that there is an "excellent chance" of the incoming admin. of stealing your, and everyone else's 401K, why wouldn't you pull out now. Why risk it?

Personally, I guess I am in the group that you will LOL at. Because I just don't see it happening. I mean come on, talk about pissing people off, lots and lots of people. It seems to me that it would be political suicide for any politician, Dem or Repub. to try to do it.

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I see the incoming group as a completely different animal than the obama group. First of all they're controlled by the ChiComs and the ChiComs are moving globally to strengthen their international positions, controlling the USA is key to that endeavor. Secondly many people are under the mistaken impression that they care if we're pissed off. The ChiComs and democrats know that no American will do anything, Americans have been quietly putting up with the march towards communism for decades, Americans ain't gonna do shit except bitch about it.

so again, why are you risking it, losing your 401K investments? Why not get out while the getting is good?

IDK the future, any better then the next guy. I'm hanging my hat on what the financial group that we are invested through is telling us. They don't see the gloom and doom and they've been doing it a lot longer then I have. SO, for now, I'm hanging my hat in their corner.

While I don't think we are on the brink of 401k's/IRA's/etc being "nationalized" (really confiscated), there is precedent that makes one wonder.

1933 Roosevelt nationalized all privately held gold, and the .gov paid a depressed price to citizens before federally setting the value at 167% of what they paid.
Greece in '12/'13 went far beyond confiscating tax advantaged retirement accounts.

I expect that the incoming administration is going to follow the now set precedent of spending asinine amounts of money on "stimulus" that barely touches our citizenry, along with following the lead of "neo-progressive" communists like AOC and her dumb "GND" that will crush our economy even further, which will set the country on the path of financial crisis ala Greece. When? if I knew that kind of thing I wouldn't have to work... I don't expect this to happen in the next four years, but... see my previous statement...

As for pulling 401k's and IRA's, I can argue for pulling them, and for leaving them, depending on your current tax rate and the type of account that you have. Tax and penalty for pulling, especially 401k's, is a great way to vaporize 30+% of the cash.

I am hoping that y'all can have a laugh at my expense in 4 years. :)

Like I said, this administration is going to be different, Biden / Harris are bought and paid for by the ChiComs. Biden / Harris are profoundly stupid people, exactly what the very smart and thoughtful ChiComs want.

Wouldn't the true answer here be to diversify?

If you're concerned that some or all of your retirement funds will be confiscated, and that would be materially detrimental to you, it could be too many of your assets are in these buckets - just like your portfolio can be overallocated to a specific asset class. Certainly, there is a tax benefit/deferral to using these accounts, but you have potential counterparty risk from the .gov in this case. As with everything, no free lunch.

Realizing that a significant portion of your capital will go to the .gov if you remove funds from a retirement account, what do you stand to gain by reallocating the funds to another asset class (ammo, guns, real estate, gold, TSLA call options.....)? Is that worth the risk that you're wrong?

Only you can decide that for yourself, since you'll have to live with the consequences of your decisions. But it's always prudent to not be dependent on any one asset. That's been investing 101 for a while now.

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Originally Posted by roberth

Correct.

If a person cannot take physical possession of an item, they do not own it.

I participate in a 401K that a Wall Street firm owns, I just get to look at it and manipulate it. Theoretically I'll be able to draw on it in the future. There is an excellent chance the incoming administration might take a portion or all of it, they just stole 2 elections, what's to stop them from stealing my 401K.

I'll LOL while people tell me "that won't happen because it hasn't happened in the past".

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So I take it you are pulling all your assets out of your 401k.....

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Originally Posted by sroz

So I take it you are pulling all your assets out of your 401k.....

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And turn it into briefcases of cash or other physical assets. Who says they won?t steal it out of your bank account if you think they will take it from the retirement?

I think they will propose a wealth tax much like CA did. This way they are just taxing it.


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Having actual cash in this circumstance is the worst place for it if you?re worried about the value... just simply buying a stock of any company will appreciate when the dollar loses value (continues to lose, more rapidly mine you) when these folks put more stimulus packages out there...

At least in part, the upticks in crypto and equities we?ve had the last 3-4 months during this pandemic is because the dollar is worth less.... so the prices of these things goes up.

that said, I have a few K in cash in hand just to make sure I’m never “broke”... but I won’t pull my investments, that’s for sure. Allocate wisely and you’ll come out just fine, regardless of the markets.

If were all broke, who will the ChiCom's sell stuff too?

My bet is a decline of the wealth of the nation with a gutting of the middle class. The USA will end up like post WW2 great Britain. No longer a empire and the dollar will lose its role as a reserve currency.
Global conglomerates and sovereign wealth funds will buy up assets and political power.
We have spent to much capital on windmills, bribing foreign nations and voting blocks. The cost to project power to prop up the fa?ade has bankrupt us.