Your 401(k) Is At Risk

This is the latest from Rick Ackerman. Good stuff.


"To be clear, let us note that hyper-inflation seems entirely possible, even if mere inflation does not. Hyperinflation will arrive when The Government decides that fiscal stimulus alone cannot ever get us out of debt, given the vast sums of debt that need to be inflated away. No, only a hyperinflation could do the job, albeit at a price that presently seems much too high. Creditors and savers would be wiped out, life insurance policies would become worthless, pension funds would be devastated, and all of the institutional conduits of lending, including the bond markets, would cease to function for a generation.

If you think the decisions Mr. Obama is making now are tough, wait till he figures out that America’s multi-trillion-dollar boondoggle is barely causing a ripple in the economy, much less the kind of boom that would make our debts manageable."

I have been saying for a while that the insurance and mutual fund industries will be the next to fall. If I am right, you better do whatever you can to get out of those 401ks and IRAs and convert them to gold.