Government Theft of Your Wealth

[ringledman]

So how likely do we think it is that governments in the West will blatanly steal the wealth of their citizens in order to pay for their bloated statist public led government collapses?

Of course governments have been stealing private citizens wealthy through 'indirect' inflation and high taxation for years. Here though I'm thinking of 'direct' theft of ones hard earned assets.

I dont think this is likely anytime soon but within 10 years when a hyperinflationary environment takes hold (once the deleveraging credit cycle has run its course).

I'm thinking of examples in history -

Argentina nationalising private pensions in 2008-
http://www.nytimes.com/2008/10/22/business/worldbusiness/22argentina.html

USA making gold illegal in 1933-
http://www.submityourarticle.com/articles/Gary-Giardina-3185/gold-26305.php

There are already moves afoot for US citizens to have to invest their hard earned personal 401K pensions into junk US government debt-
[broken link removed]

'Argentina provided a precedent in 2008, taking over that country's private retirement accounts for forced investment in government bonds to cover spiraling deficits. Ambrose Evans-Pritchard editorialized at the time in Britain's Daily Telegraph that this may be "a foretaste of what may happen across the world as governments discover . . . that the bond markets are unwilling to plug the (deficit) gap. . . . My fear is that governments in the U.S., Britain and Europe will display similar reflexes.'

How should one protect oneself?! Anyone else believe this will occur?!

For one I think the USA will take ownership of the ETF gold holdings in the USA at some point. Either this or make a derisory offer of something like $200/ounce for the holdings.

Any other examples in history of direct theft by the government?

Thoughts? Am I paronoid? I don't think so!

 

[z107]

One way is to remove reliance on state structures as much as possible.
Think of all the stuff you rely on the state for, or pay the state for, and find alternatives. This will make even more sense when general strikes happen, probably late 2010 or early 2011, after the next budget. Secure power generators, fuel supply and upgrade security. Look for sustainable sources of food, for the long term.

Do not store wealth in money, this will leave you wide open to be taxed.
Hoarding gold and stuff you can barter is always a good idea.