The war on cash has been in full force over the last three years. The battle against digital currencies has only recently been waged. Now the United States government is combining its efforts to keep a close eye on you and your money.
Last month, Iowa Republican Senator Chuck Grassley introduced legislation called “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.” It is being marketed as a bill to fight the unscrupulous individuals and the evildoers, but critics are already pointing to its real intent: spying on you, taking your assets and ensuring you fall in line.
Ostensibly, the bill aims to achieve three things:
– Increase the government’s power of civil asset forfeiture.
– Mandate private business to monitor your financial activity.
– Legalize the state’s spying on you if you participate in so-called suspicious activity, even if it is on accident.
Here is the kicker: the government has increased powers to take your assets if you do not follow new laws pertaining to physical cash, bitcoin and other supposed monetary instruments, like prepaid cellphones, gift cards and digital coupons.
Scary indeed!
Peter Reagan of Newsmax.com explains how you could be affected:
If the bill becomes law, Americans would be subject to a whole host of government intrusions. One little slip-up would open a Pandora’s Box of governmental inquiry into your financial life.
For example, failing to complete a single reporting form would result in the government being granted abilities to freeze and seize not just a portion, but the entirety, of your assets. The bill even goes so far as to include the contents of safety deposit boxes.
The war on cash and financial autonomy has been underway for some time. But this bill would solidify a serious loss of freedom we’ve been fearing for years.
This is further proof that it doesn’t matter who sits in the Oval Office. Even if he campaigned on draining the swamp, life in Trump’s America is going to follow the same pattern of the last 60 years: a loss of freedom.
Simon Black of SovereignMan.com is right: “These people are certifiably insane.”
I will be 62 next year and start my Social Security benefit. I will be out of debt in 18 months and will be going to cash only purchases, except for the few times per month I might buy something on line, less than $50, most of the time. Good luck tracking my cash purchases.
I will pay zero federal income tax and I will pay zero state income tax because of a rent assistance rebate for people over 62, so the state might be sending me a check.
The bankers want everyone to use debit or credit cards, because they want their transaction fees and interest payments.
I think people should really think about using cash more often, when ever possible.