I received a document from Paychex today which is the administrator of one of my 401K accounts… and they have announced that they are going to move all cash in NON-government ‘Federated CASH Obligation’ money market accounts to ‘Federated Government Obligations‘.
Since my 401K money is invested in three different precious metals funds this announcement does not affect me, however it will impact many other unsuspecting would-be retirees who falsely believe that their money is “safe” and “liquid” in a money market account. This is the slippery slope into government forcing account holders to invest in government debt (Treasuries), and it’s exactly what we’ve been warning about. As for me, I’m going to roll that particular account over and away from the control of Paychex.
Dave Kranzler from Investment Research Dynamics joins me to dissect the document and to shed some light on the recent huge moves in silver.
Via SGT Report