Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman

Poland Raises Gold Holdings to Record High in September – IMF
By: GoldCore

Asian Metals Market Update: Oct 16 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain While Stocks Drop Again
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 15 2018
By: Ira Epstein

The ultimate financial crisis will be inflationary
By: Steven Saville

 
Search

GoldSeek Web

 
How NOT to Become a Casualty in the War on Cash


 -- Published: Tuesday, 10 July 2018 | Print  | Disqus 

By Clint Siegner

Lots of bullion investors wonder if the metal they hold might one day be needed for barter and trade. They bought gold and silver, at least in part, as a form of insurance. It just might come in handy in an extreme circumstance such as a currency crisis of the sort Venezuelans are grappling with right now.

However, a hyper-inflationary collapse in the dollar isn’t the only dire scenario to insure against.

War on Cash

It is now clear that the dollar, and the financial network it runs on, is a mechanism for controlling people who don’t toe the government line.

That fact may be a greater reason for alarm than the prospect of a dollar collapse. But it gets far less consideration.

Wall Street banks and government regulators have teamed up against your liberty and your privacy.

Officials would like to track 100% of what you do with your money, and the banks would like to charge a fee on 100% of those transactions. Those motivations are at the root of the today’s war on cash – the push to eliminate paper cash and replace it with electronic transactions.

The Bank Secrecy Act will soon turn 20 years old. Banks have filed millions of secret Suspicious Activity Reports on transactions involving cash. And Americans performing a transaction involving more than $10,000 in cash may have an IRS Form 8300 documenting their transaction filed with the federal government.

Americans trying to transact privately with cash are being watched, and they have no idea how closely.

Guns and Metals: Operation Chokepoint

Of course, people also do fewer and fewer transactions in person.

Online ordering and payments also drive the trend toward dependence on the financial system and on-the-grid transactions. This has been a stroke of good luck for government snoops and bankers who don’t like cash.

The Chinese government is beta testing a new social credit system which purports to score the Chinese people on their behavior. Critics of the communist regime can wind up on a list of troublemakers and lose the freedom to buy the things they want.

Those who say that sort of program will never fly here should reflect on this short (and incomplete) list of what we know, then reassess:

  1. Operation Chokepoint was designed to restrict merchants in certain undesirable industries, including gun stores and coin shops, from access to banking. There’s been talk about Trump’s DOJ rolling back this discriminatory program, but we’ve seen no evidence that it has been.
  2. Edward Snowden laid bare vast programs in the intelligence services to track and target Americans. Just last week, the NSA quietly announced it had deleted 685 million call records collected with the cooperation of phone companies. Of course, none of the customers involved were told their data was being recorded in the first place and no one will be able to verify the data was actually deleted.
  3. The IRS denied Tea Party groups status as tax-exempt charities under Barack Obama. President Donald Trump’s battle with the Deep State has further revealed just how partisan officials can be… and just how far we are from a system which adheres to the rule of law and applies it fairly.
  4. The Department of Homeland Security developed a list of characteristics for police and enforcement personnel to use to help them identify domestic terrorists. People who support the Second Amendment and talk about the Constitution and limited government are suspect. If you are reading this, you might qualify for increased scrutiny under a future administration.

We don’t have to imagine what officials might do with the power to target and control people in an all-electronic economy.

The digital dollar can serve as a powerful tool for enforcing “good” behavior. That is one more reason to lower your dependence on it.

Clint Siegner is a Director at Money Metals Exchange, the national precious metals company named 2015 "Dealer of the Year" in the United States by an independent global ratings group. A graduate of Linfield College in Oregon, Siegner puts his experience in business management along with his passion for personal liberty, limited government, and honest money into the development of Money Metals' brand and reach. This includes writing extensively on the bullion markets and their intersection with policy and world affairs.

 


| Digg This Article
 -- Published: Tuesday, 10 July 2018 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.