Thursday, May 7, 2009

America: Also The Global Financial Police

Barack Obama said Monday, "If financial institutions won't cooperate with us, we will assume that they are sheltering money in tax havens and act accordingly."

Many investors deposit their cash and enter into contract with foreign banking institutions because of privacy concerns. This does not make one a criminal but a wise and prudent protector of their assets with legitimate apprehension toward a tyrannical government [see: Gold Confiscation Act of 1933].

Sure, there those who use these financial institutions as tax havens. But with today's oppressive tax code, who can blame them?

The national coffers are depleted, the creditors are concerned about their investment, and the voluntary slaves are already overtaxed. But the empire must be financed and all measures must be utilized - including the presumption of guilt in the event of a financial institution refusing to "cooperate", instead opting to honor a pre-existing contract.

I only hope that these institutions have the chutzpah to stand up to the dictator and refuse to "cooperate".

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