The “Bank Account Tax” is coming…
And it could cost you thousands of dollars each year.
If you have a bank account, please take a moment to read this.
You won’t hear about it in the mainstream news… but there’s a way to
legally avoid this tax and save yourself thousands of dollars.
Opting out is easy. You don’t have to file a single tax form. You just have to take action while there’s still time.
I’ll tell you exactly how to “opt out” of this new tax in a moment.
But first, you need to understand what this tax is and how it came
about…
No matter what you think of the U.S. government, you have to admire
one thing. The Founding Fathers made a smart move by spreading the
government’s power between three separate branches: the executive, the
legislative, and the judicial.
Their goal was to make sure no one branch could cause too much damage.
For example, the president can’t legally declare war on China. The
Founding Fathers believed that no one man should have the power to start
a world war. So they wrote the Constitution to require Congress to
approve a declaration of war. We call this a system of “checks and
balances.”
To raise taxes, the president must go through similar checks and
balances. According to the law, a majority of the 535 members of
Congress must vote “yes” to raise taxes.
In other words, the president cannot raise taxes without Congress’ approval.
It has worked this way for more than 200 years.
However, in 2016, a new loophole has taken root in the system.
This loophole—which has never existed before in the history of the
United States—allows the president to raise taxes without the approval
of Congress.
Even worse, it allows money to be taken directly from your bank
account…much like the IRS takes money directly from your weekly
paycheck.
You may know this loophole by its more common name, “
negative interest rates.”
If you’ve been watching the news, you know negative interest rates
are a huge story. The idea of negative interest rates may sound
complicated. But I promise it’s easy to understand.
Typically, you earn interest on money you keep in a savings account.
With negative interest rates, you pay interest onyour own money. And the
more money you have in the bank, the more you pay.
It’s a crazy, upside-down policy that could only exist in a world where idiot politicians are in control.
Many governments around the world have already adopted negative
interest rates. For example, Japan and several countries in Europe are
using negative interest rates.
This means politicians around the world are ordering banks to charge depositors (you) a fee for storing cash.
It hasn’t happened in the U.S. yet. But it will. Janet Yellen, chair
of the Federal Reserve, has said the Fed is “taking a look at” negative
rates. She also said that negative interest rates “aren’t off the
table.”
Of course, the government doesn’t call this a tax. And the mainstream media won’t dare call it a tax. So we’ll do it for them.
Think about it. The government is ordering banks to confiscate money
directly from people’s bank accounts. That is a tax. It’s no different
than the IRS ordering your employer to take taxes directly from your
paycheck.
Negative interest rates are a direct tax on your cash.
Politicians think that by charging you to keep money in the bank,
you’ll save less money. Instead, you’ll spend more money on things like
smartphones and cars. You’ll invest in things like stocks and real
estate.
This would “stimulate” the economy.
This thinking is very, very wrong.
But it’s exactly the type of thing Big Government types like Hillary Clinton and Donald Trump will do in a financial emergency.
If Clinton wins the election, she may not even wait for an emergency… we might see negative interest rates by next year.
Right now, you may be thinking that there’s an easy way around this
tax… that you can pull cash out of the bank and keep paper dollars in
your home. If your money isn’t in the bank, the government can’t tax it
with negative interest rates.
If that’s what you’re thinking, you’re absolutely right. The government can’t reach your cash if you keep it at home.
And politicians know this.
That’s why governments are banning paper cash.
In just the past few years…
***Spain banned cash transactions over 2,500 euros.
***Italy banned cash transactions over 1,000 euros.
***France banned cash transactions over 1,000 euros, down from the previous limit of 3,000 euros.
Just a few weeks ago, former U.S. Treasury Secretary Larry Summers called for a ban on the $100 bill!
By making it so difficult (or illegal) to buy and sell things with
cash, the government wants to force people into the banking system.
Once we’re all trapped in the banking system, the government can tax
our bank accounts with impunity. We’ll have no alternative to keeping
money in the bank.
Negative interest rates and the elimination of paper cash…it’s all a dream come true for government central planners.
Whether you agree with these regulations or not, the conclusion is obvious:
By driving us more and more towards trackable digital payments, the
government has made it much, much easier to confiscate our wealth.
How to “Opt Out” of Hillary’s Cash Tax
Democrats pay lip service to helping the middle class. Although this
plays well with voters, it’s complete garbage. Hillary’s Bank Account
Tax will hit the middle class hardest of all.
The reason is simple. Wealthy people own a lot of stocks, bonds, and
private businesses. They own a lot of art and real estate. Wealthy
people tend to keep a large portion of their wealth in assets other than
cash.
The middle class, however, tends to keep a larger percentage of
wealth in cash. Their assets are ripe for the taking by desperate
politicians.
But no matter how much cash you have, there’s one important thing to know.
Negative interest rates and the coming ban on cash will cause people to panic. They will cause an exodus out of cash.
People will search for something…anything…that will hold its value.
Something that cannot be easily confiscated by the government.
People will turn to gold and silver.
Gold and silver have served as money for centuries. Gold is the
ultimate currency because it doesn’t rot or corrode…it is durable…easily
divisible… and it’s portable. It also has intrinsic value…is consistent
around the world…and it cannot be created from thin air.
And unlike cash, it cannot easily be debased or confiscated by the government.
Negative interest rates and the ban on cash will wipe out many people. But you don’t have to be one of them.
Get into gold before millions of Americans start plowing money into
it and you could be looking at gains of 100%, 200%, or more. Gold is at
$1,270 an ounce today. It could
easily go to $4,000 or higher as people flee cash.
The flood of money out of cash and into gold and silver will create what we call a huge
underground currency market.
If you think that sounds unlikely, consider this. Gold and silver
served as money all over the world for thousands of years. Only in the
last few decades have people accepted unbacked government currency as
money.
The coming underground currency market will return gold to its
rightful place. Gold will regain its role as money. Millions of people
who don’t want the government to confiscate their savings will buy gold.
If you own enough gold, the creation of the underground currency market could make you rich.
If you don’t own gold, buy some now.
If you do own gold, buy more.
And one more thing…
Right now, we have an
extremely rare opportunity in gold.
In short, a unique type of gold asset is set up to return 500%+ gains
in a short period. This situation has only occurred a handful of times
in the last 20 years. But every time it occurs, some investors see gains
as large as 1,700%, 4,300%, and 5,000%.
With gold prices surging, the window of opportunity won’t be open
long. And once it closes, we likely won’t get another chance like this
for years.
Read more here.
Regards,
Justin Spittler
