Posted on 12/30/2024 8:57:56 AM PST by delta7
QUESTION: Regarding CBDC, will they convert all the savings/cash in your bank account, will they convert everything in your brokerage accounts (all stocks etc.) will they go after gold and silver you have in storage (Brinks, for example)?
KS
ANSWER: Everything will be converted to the new CBDC. The money in your bank account is already just an electronic book entry. This is why banks are closing branches everywhere in the USA as well as Europe. They are preparing for CBDCs, which means without physical paper money, bank branches are no longer needed. You can deposit a check on your phone. The only thing left for a branch is safe deposit boxes, and the government assumes you are hiding cash there anyway. So kiss your local branch goodbye. The local bank I used because it was the closest has closed, and it is now a 30-minute ride to the closest one still open.
The monetary system will still function as normal. The exchange will probably be one-for-one. The main purpose of this is to destroy the underground economy to be able to tax everything – even the 16-year-old girl next door you hire to babysit while you go out to dinner and that $100 bill you found in the parking lot that you cheated the government out of their 50% gift tax. We are all looked down upon as scum. They presume we are all guilty and the whole debt crisis is never their fault – it is you – we the people.
This is the natural progression of direct taxation – the complete loss of all liberty. This is why the Founding Fathers prohibited direct taxation. But the socialists seized the government and followed Marx to get the evil rich. It was introduced with the promise that only the rich would have to pay. They lied about that as well, for as soon as the income tax took place, simultaneously in the same bill, there was the payroll tax demanding employers withhold income from their workers.
The federal income tax of 1913 was accompanied by the fact that the law also attempted to withhold the brand-new income tax because the people were never to be trusted. Initial estimates were that the withholding provisions would yield two-thirds of income tax revenue, but in 1916, less than 5% came from withholding. Furthermore, employers’ simple lack of compliance led to a massive groundswell of opposition to the new withholding system.
The people realized that the government lied to get the 16th Amendment passed, and the state politicians voted for it because it allowed them to also allowed them to impose income taxes at the state level. Even cities joined the money grab, imposing city income taxes. Every layer of government now had the right to extort money from the people based on their income, requiring disclosure of their personal lives. You gave your children money, which was circumventing income tax, so they rolled out the gift tax. , which fueled the corruption on a massive scale. The Revenue Act of 1862 included an inheritance tax and gift tax, which applied to transfers of personal assets. In 1864, Congress amended the Revenue Act, added a tax on transfers of real estate, and increased the rates for inheritance taxes. They have always used war to justify raising taxes, but they always remain in place thereafter. The War Revenue Act of 1898 implemented an inheritance tax of .74 % to 15%, which was used to fund the Spanish-American War. This is why the government loves to wage wars.
By 1916, the payroll tax had become so politically unpopular that even Secretary of the Treasury William McAdoo advocated for its removal. In the War Revenue Act of 1917, the withholding rules passed in 1913 were officially repealed and replaced with a softer set of rules for employers — they were now only required to furnish information about wages paid to employees throughout a year, but not actually withhold or pay taxes on those wages.
This entire CBDC movement is about taxes, and they want to eliminate all paper money so they can track absolutely everything, rendering you an economic slave of the state precisely as the LEFT created with Communism. You will not be able to escape this system. This is why I have said that Republics are just tyranny by another label. We have no right to vote on anything. We are supposed to be “represented” by those in the House of Representatives, and the Senate represents the state governments – not the people. We have no right to vote on any issue ranging from taxes to war.
When FDR confiscated the gold, it was from institutions – banks and storage facilities. The Gold Confiscation Act of April 5, 1933, called for holders of significant quantities of gold to sell their gold at the prevailing price of $20.67 per ounce. They did not go from house to house. That is what FDR did. There are Supreme Court cases known as the Gold Clause where they upheld that private contracts with a gold clause could not be enforced.
The only exception was numismatic coins because Teddy Roosevelt (1858-1919) was an ancient coin collector. When Teddy became president on September 14, 1901 – March 4, 1909, he commissioned the artist Augustus Saint-Gaudens (1848 –1907) to redesign the $20 gold coin and made it high-relief as the ancient coins had been struck. The machines could not handle the high relief, and so the coins had to be reduced in their relief. He also ordered redesigning the $10 gold coin and had the American Indian represented. Teddy himself insisted on the headdress.…….more…
NOT ALL OF US HAVE/USE CELL PHONES. I DO NOT-—NEVER HAVE.
CELL PHONES ARE EASILY HACKED.
THIS IS A MOVING DISASTER-—WILL BE A TRAIN WRECK OF MONUMENTAL SIZE.
China has been doing this for some time now. It works, but they do execute their criminals. Besides, combined with blanket camera coverage and automated facial recognition, the government deducts fines very soon after an infraction occurs. Our government wants to enjoy that capability as well.
Of course, but the masses will embrace it like those ineffective and harmful Covid vax’s….all it takes is another large financial crash ( we are due), and CBDC’s will “ fix” it we will be told. Americans are so gullible.
That said, MIT and Cornwell “ think tank” documents I accessed years ago ( Nobama’s time, funded by .gov) stated in detail how to instate cashless.
….lots of prior planned “ tricks”, but don’t worry, one point stuck out in my memory. Government digital “ATM’s” will be installed in all US Post Offices…they theorized it will promise “ equal banking” for all! No fees, no minimums, etc…
The last few points did mention how to handle the Gold bugs…..first, offer 5-20 percent more in digital money for their Gold, then, through legislation hit the coin shops and dealers with strict reporting requirements, then, tax heavily the BUYING of Gold ( like the EU did when they started the Euro- tax the purchase- front end taxation), ….they then acknowledged not much they could do about Bartering.
American’s need to wake up and start thinking, creating Bartering systems like the NE has…..I saw a shop up there recently accepting pre64 silver, …it cost six silver dimes for a breakfast sandwich….and a shop just out of driving distance from me has a sign “ We accept Constitutional silver ( pre-64 silver) for gas”…two silver dimes today buys a gallon of gas.
KS = Martin A. Armstrong
Armstrong spent eleven years in prison for losing almost a billion dollars of investors money in his ponzi scheme.
Anyone who has gold or silver in storage is not serious about why to have it in the first place.
“Be sure to view his period newspaper articles, references, etc.”
New York Times
Martin A. Armstrong, a financial adviser who has been in jail since January 2000 on a civil contempt charge, pleaded guilty yesterday to a charge of securities fraud in a criminal case stemming from trading losses incurred by his firm in 1999.
https://www.nytimes.com/2006/08/18/business/18trader.html
Let me introduce you to the Chain Migration Family:
Grandpa Chain Migration Doctor
Grandma Chain Migration Nurse
Chain Migration Plumber
Chain Migration Builder
Chain Migration Caterer
Chain Migration Dentist
Chain Migration Accountant
....
They are a largely untaxable economy of their own.
How many people have silver coins?
And if I did, would I give them up for the equilavalent of an Egg McMuffin?
Am I guilty of voting recently for a “convicted felon”?
Yes!
“all it takes is another large financial crash ( we are due),”
Nine years over due according to you and Armstrong.
“and that $100 bill you found in the parking lot that you cheated the government out of their 50% gift tax”
The gift tax is not 50%.
The gift tax is paid by the giver not the giftee.
Are you betting on nine more? Speak up...
Trump is n9t a convicted felon.
“Are you betting on nine more? Speak up...”
I am betting that Delta7 and Armstrong’s prediction of a US civil war starting next month is wrong.
Cashless Society?
Not buying it. How would rotten politicians get paid off?
How would drug dealers/hookers/etc make their daily bread?
You would be one power outage//server crash from chaos. No sale.
(remember the hoo-haw when the EBT servers crashed?)
There’s always the deep-state trolls use deep-state evidence like NY Times, CNN and CIA reports to prove their point
For decades, Martin A. Armstrong sold himself to investors as expert on anything of precious value, from coins minted by the Egyptian pharaohs to turn-of-the-century U.S. stamps, not to mention current-day markets for stocks, bonds, commodities and currencies.
Now, Mr. Armstrong, arrested in New York on Monday, stands accused in a federal indictment of using this market-wizard image to conduct one of the most common frauds in the history of finance: making big promises to investors that he couldn’t deliver. Mr. Armstrong, out on $5 million bail, finds himself accused of securities fraud after allegedly trying to cover up millions of dollars in bets on the yen and other markets that went horribly wrong.
https://www.wsj.com/articles/SB937352708437378435
“There’s always the deep-state trolls use deep-state evidence like NY Times, CNN and CIA reports to prove their point”
There are always those that when faced with facts they do not like discredit the source.
“will they go after gold and silver you have in storage “
How is this even a question? Of course they will. Only a fool keeps it on deposit somewhere else. If you cannot lay your hands on it without interacting with someone... you do not own it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.