Big Brother Says "Show Me Your Money" . . . Gold Says "No!"
I'm reading an article here that is very alarming. According to this article, the Financial Regulatory Bill, contains sections that take away more of our financial privacy.
Here's a quote, "Senate Democrats united to pass a financial regulatory bill that allows the government to collect data on any person operating in financial markets at any level."
Translated, that means nothing is sacred anymore. Some may ask, "to what end?" To that I say the answer is really quite simple. All the printed money for bailouts and stimulus over the last year or so have created enormous debt. It's no secret that the President says that debt will be paid back by the rich. Now they just have to define rich.
Whereas, in the past, government had to get a court order to access financial records from a bank or other financial institution, now all they need do is ask. They can find out in an instant how much you make, how much you spend, they even want to know how much you use your ATM machine.
How you invest your money will be no secret either. By knowing who has what in their savings and retirement accounts can be of great assistance in determining who can afford to pay higher taxes. It likely won't be just those who make more that will be taxed more. He who has more will likely get the nod as well. Don't believe me? Isn't that exactly how Estate Taxes work?
This bit of news comes on the heels of another report that suggests government may soon require you to invest cash in your IRA or 401k into treasuries. Nice! If it is true that they have already started to print money to buy our own treasuries, why do I want to own what no one else wants? What happens then if there is a default? Will I be repaid with more printed money?
So how does someone save for retirement, preserving some level of privacy and profit in this uncertain economy? One of the longest standing investments in history... Gold. If you want to learn more about certain gold coins that can preserve financial privacy and provide safety and growth, call Lear Capital for the inside story.