If you’re like most Americans, you’ve likely heard the comparisons between the COVID-19 Recession and the Great Depression. Just like in the 1930s, the U.S. Government has resorted to massive borrowing in the hopes of keeping America’s ponzi economy from collapsing. I have always stated that diversification is 'key' in surviving the slow and painful collapse we are all in.
Knowledgeable gold bullion HODL'ers who know history have some concerns that the government could resort to Great Depression-era tactics to bail itself out (which they will).
Gold confiscation went on 3 times in U.S. history:
- War of 1812 (dollar was revalued in the 1834 through Coinage Act)
- The civil war (1861)
- The Great Depression.
Could Gold Bullion be Confiscated by the U.S. Government Again? Sure, but they have to know about it first! Probably difficult if you bought many years ago and had a boating accident where it all sunk to the bottom. After all we already know that when they 'collect' what's 'theirs' it is revalued to pay off government debts.
But debts don't matter right Bear! Bear didn't you know BITCOIN is the new 'digital gold'?
"In her confirmation hearing, President-elect Biden’s pick for Treasury secretary spoke about crypto’s role in terrorist financing and money laundering". With all due respect Old Yeller.. "fuck off". We know you are there to merge the FED and the Gov (officially). We also know plenty of USD is used in illicit activity. Looks like you are still salty over Bitcoin guy's sign. Alright well at least thanks for letting me know what is in the cards of the future.
"The U.S. Financial Crimes Enforcement Network (FinCEN) has posted a proposal for new rules concerning “non-hosted” digital asset wallets. The proposal would require banks and money service providers to verify identities for, keep records on, and file reports on, transactions over US$3,000 involving such wallets not owned by another financial institution".
Of course they will be coming for your crypto! There's so much tax revenue untapped; especially under-reported gains. Crypto has a huge future; but decentralized finance will be tightly controlled. My recommendation? Try to wash your crypto and get it into private cold storage wallets ASAP. It won't be a silver bullet; but it will give you some time to manage the future. Privacy coins may just be a thing again.
Just incase Ledger get's put out of business. There are way's to access your crypto just from seed mnemonic phrase.
Why am I so paranoid? Well for one we have been shown exactly how fascist governments have become. It was always apparent but papered over with bureaucracy and propaganda that we had 'freedom'. Charter of Human Rights, Constitutions.. meh! Only suggestions right?
Stay prepared crypto-people. They will use FUD, threats, intimidation but in the end if they don't know about it; there's nothing they can do to you. I am only advocating for more privacy. After all, my hard work is what produces what SHOULD be mine.
Posted Using LeoFinance Beta