Copied verbatim from Ann’s site.
The Sick Truth About 401ks Finally Sinks In
Posted by Ann Barnhardt – December 12, AD 2011 4:22 PM MST
Possession is nine-tenths of the law.
Judging from my email inbox, many of you are realizing EXACTLY what that old adage means right about now. Many of you have requested to liquidate your 401k accounts, and your employers won’t let you do it. I had no problem doing it because I am self-employed and thus I was my own “plan administrator”.
So, this nasty business brings us around to a very nasty, but inevitable question. Was that money ever yours, or has the entire 401k fiasco been nothing more than an underhanded, stealth confiscatory tax for the vast majority of folks who have participated in it over the years? I’d have to say, “affirmative” to the latter. If you are denied access to “your money”, then honey, it ain’t “your money” and never was. Many of you have been conned into working for a salary that was x percent less than what you were told, with “x” being the percent “contributed” to “your” 401k account. That “x percent” should be added to your marginal tax rate, because it is probably going to end up in the coffers of the United States Treasury by way of J.P. Morgan, Goldman Sachs, or HSBC, or one of the other big crypto-fascist banks, by way of London, just like the MF Global money.
If you’re wondering to yourself who EXACTLY is going to “bail out Europe”, or at least make a pathetic attempt at the mathematically impossible so that your friendly neighborhood American oligarchs have enough time to get themselves pre-positioned for the collapse, YOU ARE, MY LITTLE CHICKADEES.
If you are one of the many, many people, or as TPTB call you, “bourgeois, bitterly clinging trash”, stuck in this con, the only things you can do are:
A.) CEASE ALL NEW CONTRIBUTIONS IMMEDIATELY.
B.) If there is a loan option attached to your 401k program, take out the maximum possible loan and set up the SLOWEST possible repayment schedule.
C.) Never again enter into an arrangement wherein “your money” is unavailable to you and is anything less than completely liquid.
Possession truly is nine-tenths of the law, and under a lawless Marxist-Communist-Fascist government where the rule of law no longer exists (such as we are in now), possession is closer to ten-tenths of the law.