Karl Denninger on:

How They Will Steal Your Retirement
Karl Denninger
Posted 2013-04-07 13:23

"I've laid this out before but it's time to do it again, because it's coming folks.

The recent ditty on how "nobody needs more than $3m for retirement", defined as "whatever you need to get a $200,000 annuity", is just one facet of how this will play out.

Since I started writing The Ticker I have been repeatedly asked where one should put their assets to evade confiscation, whether through outright acts of theft, devaluation or any other means.

The simple answer: There isn't a reasonably-safe means of doing that for anyone who does not possess enough wealth to be willing to write off 20, 40 or even 60% of it and who doesn't have enough to be able to***** away 1% or more of it annually in compliance, monitoring and associated costs.

That basically means if you don't have tens of millions (and the first digit isn't a "1" either) you're not in that game. If you are then you can do a whole host of things that are reasonably certain to "work", where "work" is defined as "won't lose enough of it to wind up in the street" with a confidence level in the 90s or better.
. . .
We don't have 10 years, in short, and one way or another there will be a massive shift and reform in how the world works financially. The options here range from reasonably good to catastrophically bad, and if you're younger than 70 you're going to get to experience them -- like it or not. . . . "

http://market-ticker.org/akcs-www?post=219536

Good article, thanks for posting, he raises some interesting issues that are definitely food for thought! (I'm not 100% sure that the path he describes will be the one that plays out, but is worth thinking about.)

Quote: FP123 wrote in post #2

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Good article, thanks for posting, he raises some interesting issues that are definitely food for thought! (I'm not 100% sure that the path he describes will be the one that plays out, but is worth thinking about.)

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