A new financial reporting requirement has been introduced alongside the hotly debated incoming infrastructure bill. The reporting requirements allows the government further insight into any bank accounts with cashflows of a minimium $600.
You can assume “structuring” also plays a functionary role here. Assuming here, $600 is not the lower bound. Financial surveillance is certainly one of the more concerning areas you want to be mindful of.
Financial surveillance is another tool that is used to control individuals. In countries where social credit scoring systems are already in place, digital payment rails are leveraged against the individual from spending their own capital.
Another startling concern to be wary of is Mastercard’s new program to target consumer’s “Carbon Footprint” effect from their purchases. The program is called “Doconomy” and is voluntary as of now. If there is a third party validating how you spend your own money, then I would’t suggest using these services (aside from the fact that credit card companies already grab up so much information about your purchases and location).
What’re your options now?
Route around this system and don’t participate in their financial system. Bitcoin and Monero give you a much better opportunity of maintining financial privacy.
Services like https://acceptedhere.io/ ProxyStore or https://cryptwerk.com for daily goods. You can search for local merchants that accept Bitcoin or Monero as well. Refer to our privacy resources to make sure you spend your capital privately.
If you’re moving from the normal centralized financial world, there are many ways for you to migrate. You must be careful though and take it slowly as you begin reducing your position inside of banks. And when you are ready to move permanently, you close your bank accounts. Do not give the financial insitituions any more opportunities to be able to leech off of your personal info and take advantage of you.
If you still believe you’ll need exposure to fiat, there is a much more private way of managing your funds instead of the banking system. This system is based on the use of whole-term life insurance policies focused on the infinite banking concept pioneered by Nelson Nash.
There is a lot of personal research you’ll need to do to find the perfect policy for you. You can also find a licensed practitioner near you if located in the North America. The practitioners can help answer questions and develop a policy tailored just for you.
This is a way for the policy-owner to use their whole-term policy as a warehouse to store capital. And because this is a whole-term insurance policy and not an actual bank, its not a licenced banking institution and is not beholden to the same reporting requirements.
These reporting requirements are still in limbo, and may not come to pass, but its only delaying what the politicians want to make inevitable.
Take responsibility back into your hands. There are resources and tools available to you today. Better to use them today while you’re in a position of power. The moment it seems that you need to is when things become difficult. Avoid this.