RE: More bank accounts closed
The Patriot Act was a nice set up for this. Prior to that Bush's war on drugs set up some guidelines which allowed seizures made by law enforcement to fund the war on drugs. The Patriot Act simply declared that if you had more than 5G on you, or in your vehicle, or in a safe deposit box you might be a terrorist. 5G became the line for confiscation. It was the first shot fired on the public for the possession of cash and was likely an incentive established to one day move to a digital currency. The problem was the law extended this to include precious metals, jewels, or any portable form of wealth which could be used as currency.
What it did was potentially criminalize millions of Americans who kept family jewels, coin collections, precious metals, stocks and bonds, or other such things in a safe deposit box. Also, if your safe deposit box was rented prior to the passage of the act it may not be inspected without a warrant. Government agencies may inspect any box rented after the passage of the act. This is a reason why the number of home safes suddenly escalated. It also served to devalue collections as many were liquidated to avoid the hassle leaving only the rarest of coins going up in value and leading the melt of many more which had a metal value equal to or greater than the collector value of the coin.
It effectively criminalized anyone who didn't trust the banking system and so kept what was once the recommended 3 months worth of wages in cash at home, made collections of rare coins, stamps, or antiquities of precious metals or jewels essentially public if kept at home, even in a safe, as you would need special insurance, and set a limit on the amount of precious metal you could have without it being subject to confiscation. And folks 5 thousand dollars gets you only 2 and a half ounces of gold on good day.
The measure forces the public to stay all in with the fiat currency and with a banking system which is way over leveraged, and controls the perception of that by trade with other Central banks which are as well. The comparison between them makes them appear to be liquid due to the relative equivalency. The despicable part of this is that it criminalizes people who are innocent of any crime, earned the money they keep at home for security of their family's sake, criminalizes heirloom jewelry passed down for generations, and turns hobbies into potential crimes. And all of those who have these things have the burden of the proof of ownership and taxes paid placed upon them when only after tax dollars could have been used to purchase the items or comprise the cash because of withholdings.
And these examples are not recent. Coin and precious metals dealers traveling to and from shows have already suffered confiscations. And when a rare silver dollar is confiscated, one which could be worth thousands of dollars, the possessor of the coin will likely get face value back from those who do the confiscation as the collectible frequently disappears in the lockup and the coins state value is $1.
If the groundwork was ever laid for the institution of a socialist system in this nation it was laid with certain provisions, few to be sure, which were well placed within this act.
So brothers and sisters the personal possession of portable wealth was eliminated under the excuse of a heinous act by terrorists and used to tie you down to a national debt of catastrophic proportions. It set the limit you may exercise private authority over at 5 thousand, set the boundaries for confiscation of anything over that limit, and put all of the burden of proof upon your ownership and taxes paid upon it.
Receipts are essential, including bank withdrawal receipts to prove previous ownership of cash withdrawals. Keep all transaction receipts for any hobby with value, stamps, coins, historical objects made of precious metals, and family heirlooms need to be stored with the will which gave them to you. I'd recommend a safe deposit box or separate fireproof safe these documents, statements, your insurance policies, and your will(s). And if you get a standard cash register receipt I recommend photo copying them as the ink upon them fades to nothing.
(This post was last modified: 09-12-2023 10:57 AM by JRsec.)
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