Threat To Financial Privacy (part 1) | The Gold Standard #2111

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There is a growing threat to our financial #privacy. The seeds of it have already begun to grow even as you listen to this episode. The bill proposed by the Biden administration is just another marker that the US is trending towards a police state. More about it later in this description.

Against the backdrop of continued uncertainty are more indications that the stock market is not attached to reality. Although the stock market has been a roller-coaster ride, it seems to be stronger than the economy. How can that be? While it’s true that the stock market tends to be forward-leaning, there’s no denying that the Fed has been intervening in unprecedented ways. Interest rates continue to be as low as they can go, while quantitative easing (the printing of money) has become a perverted form of standard monetary policy. Much of this printed money has propped up the markets like a house of cards. Ken Russo, the VP of the Midas Gold Group, rightfully calls the stock market “A ticking time bomb. The stock market could crash at a moment’s notice, and not everybody has 30 years to wait out that next cycle.”

What Happens if the Federal Reserve Continues to Print Money?

Ken explains that the outlook is grim whether the Fed continues printing currency or not. If the Fed stops printing money, the stock market will crash. If quantitative easing continues, everyday goods become unaffordable for most people, and the wages buy less and less. Either way, it’s a financial crisis, and people need to take action now to protect whatever buying power they may have today.

Financial Reporting and the Continued Erosion of Rights to Privacy

The financial reporting bill proposed by the Biden administration is a disturbing sign of things to come. Under the guise of recapturing the loss of an estimated $600 billion in taxes owed, President Biden and congressional leaders are pushing a chilling proposal. The IRS wants to track every bank account transaction in the US. Every deposit and withdrawal you make will fall under IRS scrutiny if the Treasury Department has its way.

The Threat to Our Financial Privacy is a Violation of the Fourth Amendment

To remind everyone, our Fourth Amendment to the US Constitution protects the personal privacy of citizens. Every citizen has a right to be free from unreasonable government intrusion and warrantless searches into their homes, businesses, and property. Politicians claim it’s necessary to catch tax cheats. Whether the threshold is $600 or $10,000, the proposed financial reporting requirement is an unjust invasion of your privacy.

How Does #Gold Protect Us Against the Threat to Our Financial Privacy?

The reason people hold gold is to protect themselves again inflation. Transferring some of your government-monitored investments (anything on paper or in electronics) to precious metals that you possess will help protect you from the threat to financial privacy. The sooner you act, the more prepared you’ll be. Gold is an anonymous store of wealth.

Since the year 2000, gold has outperformed the Dow by 60%.

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