Posted on 05/03/2014 9:08:48 AM PDT by Innovative
If you think the government and the IRS wouldn’t have access to that data, and wouldn’t use it for their benefit, you are either incredibly naïve or worse...
“Mr. Hu worries that Cards would take data that is widely dispersed—say you have money scattered across accounts at E*Trade, Fidelity Investments, Morgan Stanley and Charles Schwab—and centralize it for the first time.”
It already is. When someone who has stock files their taxes, a required form includes a summary of their transactions.
so if I am destitute I probably won’t have to worry about this right??
More re your post 19:
For those who might buy your statement that FINRA is not a gov organization, therefore we have nothing to worry about...
Here is the FINRA website:
http://www.finra.org/AboutFINRA/
“FINRA is not part of the government. We’re an independent, not-for-profit organization authorized by Congress to protect America’s investors by making sure the securities industry operates fairly and honestly.”
Yes, indeed they say they are an independent organization - but note:
— they were authorized by Congress
— they can write and enforce rules
— they can bring disciplinary actions against firms
— they can levy fines
— they refer cases to the SEC and other organizations for prosecution
etc., etc.,
They are NOT some “harmless” non-profit organization.
Exactly!!!! First step to establish systems to provide tools to confiscate 401K's and IRA's. The idea to raid these accounts and combining them with existing SSN is an idea that is already being toyed with by democratic legislators.
The IRS already has privy to all transactions over $10K. This will also give them tools to pretty much to do their audits online without messing with those pesky taxpayers.
Our pace toward fascist government rule is breathtaking.
Junk silver coins, Anyone?
TC
Oh, "Peer".
The first time I read the headline I thought it said, "Pee".
But I'm not sure I'm relieved.
So to speak.
Some say confiscation or some sort of ‘bail-in’ can't be far away. What do you think?
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