Big Banks Conspire with Gov't to Confiscate Accounts
Written by Damon Geller
Think your money is safe in the bank? Think again. A new bombshell from the New York Times exposes that the nation's biggest banks have willingly turned bank accounts over to the government for total confiscation. It's all done in secrecy, often initiated by the bankers. Tragically, bank account holders don't even know they're being targeted until after the money is seized from their accounts. The banks' deplorable actions have resulted in millions of dollars stolen from U.S. citizens without a shred of due process. And in 80% of the cases, no criminal charges were ever filed. Even more alarming -- in a matter of just a few years -- these cases of unconstitutional bank account seizures have risen over 500%! Experts advise that you have only ONE choice if you want to protect your savings and retirement from corrupt banks.
Government on the Brink of Disaster
The U.S. government and the Fed pumped trillions of dollars of YOUR money into the banks and stock market over the last several years, catapulting the U.S. debt to $28 trillion by 2018. But now, the U.S. government and the Fed are completely out of ammo, with the Fed no longer able to buy U.S. treasuries. They desperately need money to maintain their own power, and taxes are not enough. So government officials are doing everything they can to keep the Ponzi scheme going, such as seizing the public’s money through inflation, deficits, and outright confiscation. And now they have enlisted their old pals -- the bankers -- to help them get unfettered access to YOUR money without due process.
The 4th Amendment under Siege
The 4th Amendment of the Constitution reads clearly: “The right of the people to be secure in their persons, houses, papers, and effects against unreasonable searches and seizures, shall not be violated.” But according to this shocking New York Times report, the 4th Amendment is under siege.
By law, banks are required to report cash deposits over $10,000 to the IRS. But now, banks are voluntarily -- without any requirement from the government -- reporting millions of cash deposits under $10,000. From there, the IRS is arbitrarily deeming these deposits suspicious and seizing all the money in these accounts -- without any evidence of a crime, without filing criminal charges, and without allowing the account holder to fight the confiscation in court.
As the New York Times reported, the big banks are allowing over 100 multiagency task forces to comb through your bank reports on a daily basis, looking for accounts to seize. Under the Bank Secrecy Act, banks filed more than 700,000 suspicious activity reports last year alone! So do you really think you can trust your local bank?
The number of IRS seizures has increased over 500% in just a few years, and in 80% of the cases the IRS never files a criminal complaint against the individual being seized. The median amount seized by the IRS is $34,000, while legal costs can easily mount to $20,000 or more. Individuals who are the victims of seizure often cannot afford to fight.
How big are the accounts the bankers turn over to the government for seizure? The following are just a few of the horrifying cases exposed by the New York Times: •The government confiscated $447,000 from a family business in New York •The government confiscated $33,000 from a small restaurant owner in Iowa •The government confiscated $66,000 from an army sergeant in Virginia who was saving the money for his daughter's college education
This giant asset forfeiture program gives the government the authority to confiscate your money without due process, even if you’ve committed no crime! And the bankers are more than happy to aid the government in this outright THEFT. Bankers and the government have gone after run-of-the-mill business owners and wage earners without so much as an allegation that they have committed serious crimes. The government just takes the money without ever filing a criminal complaint, and the owners are left to prove they are innocent. Many give up and never get their money back.
The Banker-Gov't Conspiracy Goes Much Further
The banker-government conspiracy to confiscate citizen wealth doesn’t stop with seizures by the IRS, Justice Department and local police. As was recently reported, the U.S. government has conspired with the banks to nationalize retirement accounts like IRAs, 401Ks, pensions, 403Bs, as well as savings accounts worldwide:
•FATCA requires foreign financial institutions such as banks, stock brokers, hedge funds, pension funds, insurance companies, and trusts to report all U.S. citizens’ accounts directly to the IRS. FATCA even requires reporting to the IRS by foreign private companies on any income made by a citizen of the U.S. whether they live here or not.
•Obama announced the creation of the MyRA – your retirement money will now be used to pay for U.S. debt. MyRA is nothing more than an investment scam being sold to the American people as a you-can’t-lose, zero-risk investment by the pitchman-in-chief himself.
•The Financial Industry Regulatory Authority, which oversees how investments are sold, proposed what it calls CARDS – Comprehensive Automated Risk Data System – which is an electronic system that will regularly collect data on balances and transactions in all 4100 brokerages nationwide.
So for the first time ever, the U.S. government is directing you where to invest your savings & retirement and has gained full access to the activity in every single citizen’s bank accounts, retirement accounts, brokerage accounts and trading accounts. The IRS will also have full visibility on any oversees accounts, income, equity or other earnings, effectively giving them access to all the wealth of every American citizen no matter where they reside on earth.
Protect Yourself from Gov't Confiscation Now
With our desperate government leaning on their banker friends to gain unprecedented access to your money everywhere in the world, you need to take action NOW to protect your savings & retirement. But when can't trust your local bank, and when the government has its hands in your bank accounts, retirement accounts, brokerage accounts, and even the cash in your pocket – is any place safe?
Absolutely. There’s ONE asset class this sits outside the financial system and is completely secure from banker corruption, government confiscation and global economic collapse: Gold & Silver. Gold & Silver have been the best wealth protectors for over 5,000 years and have survived every government & currency collapse in history. And when you own PHYSICAL gold & silver, the banks and the government CANNOT seize your savings with a click of a button.
So with the government spending way beyond its limits and seizing control of your financial accounts, the time is now. Protect your savings & retirement with physical gold & silver before you have nothing left to protect. (Call 800-226-8106 to receive your free copy of Damon Geller's popular book, "Rescue Your Money from the National Debt Disaster," or see below)