Washington Declares War On Your Wealth
Memorial Day weekend, when we honor those who have served in our military forces to defend and protect this great nation.
Yet I canít help but also think about the dire straits our country is in. That Europe is also in. And how governments are now waging another war. A war on debt.
That would be a good thing if the governments of Europe and the United Sates were truly restraining spending, but they are not.
It would be a good thing if they were stopping their borrowing and instead living within their means. But they are not.
Instead, they are declaring war on your wealth.
They continue to borrow and spend with reckless abandon. And desperate for revenue they need, they are now making you the enemy, targeting your money and wealth like never before.
For one thing, they are keeping interest rates at artificially low levels, to effectively rob you of the return on your savings.
For another, they are devaluing their currencies, robbing your money of its purchasing power.
And for yet another, they are quietly moving to effectively confiscate your wealth. Not by making gold illegal to own, like Roosevelt did in the early 1930ís ...
But by moving to chase down every nook and cranny to find every penny of money you have, so that someday, they can either freeze it, tax it, or outright confiscate it.
Donít believe me? Then consider the following ...
Representative Barbara Boxer of California has introduced a bill (already passed by the Senate) that will revoke the passports of Americans accused of a tax delinquency, and without due process of law.
The accused will be placed in a centralized database and their right to bear arms will also be removed.
HR 4646, a bill now circulating Congress, calls for a 1% tax on every bank transaction you make, electronic or not. It also requires that everyone receiving social security checks provide the government with a direct deposit method so the 1% tax can be tracked and applied to Social Security payments. Taxing Medicare benefits are coming next.
Have a dime over $10,000 overseas, even if for just one day, and you better report it, or youíll face criminal charges by the Internal Revenue Service.
In Europe, they are taking similar measures, all designed to hunt down every euro its citizens have, to track them and to tax them.
Itís all part and parcel of the sovereign debt crises infecting the western world. Thing is, itís been tried before. Before the collapse of the Roman civilization. Before Byzantium collapsed. Before Weimar Germany collapsed. And more.
All in the name of using your money and your wealth to pay off debts that government leaders incurred.
Itís also the reason why more Americans than ever before are now giving up their U.S. citizenship, a very sad commentary on our country.
I donít like any of this, one bit at all. I believe it will destroy our economy and our country.
- Larry Edelson