NOW U.S. GOVERNMENT THREATENS
TO TAKE ALL YOUR CASH, New Senate bill empowers feds to
seize everything you own, 6/18/17,WND
WASHINGTON – In the name of fighting
terrorism financing, a new U.S. Senate bill threatens to force private corporations
to monitor your financial activity and empowers government to seize all your
assets if you fail to comply with the new law.
Even failure to fill out one form is
license for the federal government to take everything you have.
Sponsored by Sens. Chuck Grassley,
R-Iowa, Dianne Feinstein, D-Calif., John Cornyn, R-Texas, and Sheldon
Whitehouse, D-R.I., Senate
Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting
Act of 2017,” was introduced last month and
represents what some financial experts say is a new assault on cash and digital
currencies.
Proponents say it’s needed to fight
criminal and terrorist money laundering efforts, yet the banking institutions
that will be given orders to look for evidence are themselves the primary
architects of the schemes that make this activity profitable on a massive
scale.
“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,”
says Peter Reagan, a financial-market strategist at Birch Gold Group. “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.”
As the bill stands today,
precious-metals holdings are not covered under the required declarations. Most
other ‘monetary instruments’ would be locked down tight.
“The war on cash and financial
autonomy has been underway for some time,” says Reagan. “But this bill would
solidify a serious loss of freedom we’ve been fearing for years.”
Because fighting “terrorism” is one
of the purposes of the legislation, it allows any business with government ties
to act as a de facto arm of the Department of Homeland Security to take your
monetary assets, including Bitcoin and so-called “crypto-currencies.”
Claire Bernish, an independent
investigative reporter, says the bill would impose “autocratic financial
controls in an attempt to ensure none of your assets can escape one of the
state’s most nefarious, despised powers: civil forfeiture.”
“Civil forfeiture grants the
government robbery writ large: your cash, property, and assets can be stolen
completely sans due process, your guilt – frequently pertaining to drug
‘crimes’ – matters not,” Bernish says. “A court verdict of not guilty doesn’t
even guarantee the return of state-thefted property.”
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She says the bill also severely
curtails the right to travel freely with more than $10,000 in cash. To do so, a
citizen will need to file a report with the U.S. government. Other assets that
would be at risk for violations of the law include bank accounts, prepaid
cards, gift cards, prepaid phones and prepaid coupons. Violators face prison
terms of 10 years.
“And if that weren’t enough, this
bill also gives them with new authority to engage in surveillance and
wiretapping (including phone, email, etc.) if they have even a hint of
suspicion that you might be transporting excess ‘monetary instruments,'”
reports Simon Black of SovereignMan.com. “Usually wiretapping authority is
reserved for major crimes like kidnapping, human trafficking, felony fraud,
etc. Now we can add cash to that list.”
Comments
The
sponsors of this Bill and their Conservative Review Scorecards are as follows: Grassley
R-IA, 70% C, Cornyn R-TX, 40% F,
Feinstein D-CA 0% F, Whitehouse, D-RI, 6% F. Grassley needs a better group to
hang out with.
If the
purpose of this Bill is to fight terrorism financing, it goes way beyond that
and looks like another abusive federal “money-grab” scam. Unconstitutional government
seizure of private property and private funds needs to be reined in big time,
not expanded.
Norb
Leahy, Dunwoody GA Tea Party Leader
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