Is the federal government now planning to confiscate everyone's savings

a reply to: Lucidparadox

Sorry I prefer being free. Being a slave no matter how the dress it to the government never appealed to me.

Sounds more like filing for bankruptcy, an a bunch more credit loaning especially with mechanization in the industrial sectors. Not much different then a mortgage or financing, dont really own it till it paid in full...maybe it the words they use.

From what I understand, they probably rather everyone having a bank account to keep records, among one or two things(taxes).

originally posted by: bigfatfurrytexan
a reply to: The2Billies

Boy, is this a flawed premise. Primarily for 2 reasons:

- savings accounts are used by people without capital. Poor people let money rot in a bank. The only use a wealthier person has for a savings account is for tax accruals, etc. Otherwise, cash rots and needs to be stored in real property like gold (which isn't really real, but acts pretty well as real property) and real estate.

- COVID has decimated the savings of the middle and lower class. In 2020 I ran a nearly 40k deficit in spending vs earnings (some of that is legal and medical related). People who have money don't put it in savings. Its poor people who save.

None of this sounds flawed though. It actually sounds perfectly planned.

originally posted by: Chance321
a reply to: The2Billies

I read an article by an economist who says that the "Great Reset" that the elite are discussing includes taking everyone's savings to pay off everyone else's debts to reset the economies of the world and in particular the USA.

Since I paid off my own debt does that make me safe from bidens storm troopers? Or will I get reimbursed for paying off my debt?

Your debt has been paid off, the only thing to worry about in the future is the 800% tax increase on ownership.

a reply to: tamusan

Who knows, that may be the end game. Considering the lockdowns decimating small businesses and restaurants, upcoming mass evictions when the moratorium ends, massive unpaid energy bills, and on and on... why wouldn't they deal that fatal blow to the middle and lower-middle class to usher in their new Utopia of "those who rule" and "you, who will get what we give you and you will be happy."

In South Africa the leftist ANC has virtually bankrupted the country, and once thriving parastatals (for example Eskom, SAA or the SABC) were brought to the point where even before coronivirus they were talking of taking certain pension funds (never mind the expropriation of land based on race - already a done deal here), and one leftist Professor has argued that all private inheritance should be questioned, and in future when somebody dies all their property should automatically go to the state.
www.dailymaverick.co.za...

I predict now that at the end of the Biden-era these won't just be odd-ball leftist arguments in the US, these will be serious policy considerations.

It’s right here: The Great Reset - World Economic Forum

There is an urgent need for global stakeholders to cooperate in simultaneously managing the direct consequences of the COVID-19 crisis. To improve the state of the world, the World Economic Forum is starting The Great Reset initiative.

And The Great Reset, Part I: Reduced Expectations And Bio-Techno-Feudalism

Bidens 3% home tax $100,000 x .03=$3,000 a year and thats about 2.5 times the normal around here. So your taxes go from $200 a month to $400 Good way to make homes owned by the government real quick.

Just looked the average home around here is $350,000. thats in the county.

Dims will make a lot of money for a year maybe two.

a reply to: halfoldman
I fear you might be right.

originally posted by: AaarghZombies
a reply to: The2Billies

Can't happen.

The 4th amendment prohibits this, and there's a bench full of conservatives on the supreme court who will strike down any attempts at asset confiscation.

I don't agree about the supreme court. They are under the thumb of the Democrats who are hanging the threat of impeaching them or flooding the court with only liberals by enlarging it.

originally posted by: Lucidparadox
a reply to: The2Billies

That would never happen..

That being said.. Your view is terribly pessimistic at the notion of it.

Say they take everyone's savings... and erase debt.

That erases your debt too.. no credit card bills.. no mortgage (you own your house now), no car payment (you own it) etc.

I have no debt so all it does is take from me to pay your debt. Stealing actually.

originally posted by: WakeUpBeer
Not much to contribute here.

I have enough to pay my bills, with some savings.

But my extra money, aka savings, I have invested in crypto.

Risky, sure. But it's worked out nicely before.

They can't take that, as far as I know.

That would be far easier to confiscate and make disappear.

a reply to: thegeneraldisarray

If that's the case, they can expect some shoddy half-assed work from me after the rewards for working hard are gone.

originally posted by: Specimen88
Sounds more like filing for bankruptcy, an a bunch more credit loaning especially with mechanization in the industrial sectors. Not much different then a mortgage or financing, dont really own it till it paid in full...maybe it the words they use.

From what I understand, they probably rather everyone having a bank account to keep records, among one or two things(taxes).

If you think you own your home stop paying property tax for 2-3 years and find out who really owns your property.

Also lookup Escheatment. It belongs to the government/sovereign, and gets returned to them if you die without an heir. Simply because they ‘owned’ it before you did and ‘lent’ it to you. Pretty interesting and ghastly appalling all at the same time.

a reply to: The2Billies

I don’t know why so many people are poo-pooing this theory.

Of course they might do this. Anyone who doesn’t think this could happen has been willfully ignoring the activities of our government and bureaucrats since especially 9-11. Not even to mention the outright law-breaking by everyone in DC the last several years, and that’s only what we’ve been made aware of.

Wake up, people.

a reply to: The2Billies

wouldn't be the first time they pulled some sh@@ like this. it lasted 40 years then.
remember EO 6102, and that was back when money was real and backed by a real tangible asset.

a wiki cause it's fast,

The main rationale behind the order was actually to remove the constraint on the Federal Reserve preventing it from increasing the money supply during the depression. The Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes that were issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit, in the form of Federal Reserve demand notes, which could be backed by the gold in its possession

annd to add insult to injury, you had to carry it to to them yourself.

Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $408 in 2019)[5] per troy ounce.Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, a violation of the order was punishable by fine up to $10,000,(equivalent to $198,000 in 2019)[5] up to ten years in prison, or both.

Executive Order 6102

now, it would be just the push of a button on a computer screen.

a reply to: projectvxn

Good luck confiscating my bitcoin.

serious question,

ever thought about what bit coin or any crypto currency would be worth if they ever really did decide to shut down the internet?

a reply to: The2Billies

They gotta Locate my Mattress First Dognappit ! ..)

originally posted by: hounddoghowlie
a reply to: projectvxn

Good luck confiscating my bitcoin.

serious question,

ever thought about what bit coin or any crypto currency would be worth if they ever really did decide to shut down the internet?

Extremely relevant point! Don't put all your eggs in one basket!