Three events in 1913 set the U.S. irrevocably on the path to our present. All three were amendments that significantly weakened the Founders’ version of the U.S. Constitution in the direction that we were assured, was “Progress.” In fact, according to our Founders’ views, they were, every one, regress.
The Founders wanted a weak national government; they limited its ability to extract large sums from citizens for that reason. Their Constitution specifically forbade indirect taxes. But in 1913, we removed that tether in favor of allowing a national income tax.
The Founders wanted strong states and a weak central government; the states were closer to the people. In 1913, we amended the Constitution to replace state selection of U.S. Senators with popular election, reducing influence of state governments.
Finally, 1913 was the year in which the Federal Reserve was created, providing a cartel of bankers and the Federal government total control over the U.S. finances. A perfect trifectas for the “Progressive” folk who wanted central government control of America.
Fast forward to: 1. The “Internet of Finance” that puts financial transactions onto the internet, converting what once needed cash or checks into electrons open to anyone with the needed facilities or authority. Once the NSA began snooping into such data, government knew all with respect to finance and banking. Privacy became a historical idea.
2. Governments dumped the old gold standard because it prevented them from controlling the value of currency; that was set by a free market that government was helpless to manage. So the free exchange of paper money for gold was abolished. Paper was worth whatever government decided, or go to jail. Much better, if you were the government.
Still, people like those in today’s Venezuela could use cash to get around government imposed f currency values via a black market when the government’s values were too far from reality. So now, 3. Governments are trying to abolish cash. Scandinavia is almost there. Consider: No cash, no black markets, every transaction is available to be taxed or prevented and all transactions are an open book to the government. Great, right? If you’re the government, anyway.
It’s noticeable that central bands are moving toward negative interest rates. (NIRP). That means, you pay others to take your money. Yes, it sounds insane, but it is occurring in Europe, Japan and elsewhere. Banks are charging for savings accounts instead of paying interest on them. See, governments want you to spend your money, not save it. They say it speeds up the economy (Hokum) and there is no doubt that it gives governments control of your money and ultimately, of you. If for example, you can’t save, you will depend upon government to retire, right?
A Video: “Central Banks new world of negative interest rates and investors seeking cash” provides a scenario of this current scene. In the U.S, the Federal Reserve is asking banks for reactions toward negative rates, suggesting that it may move in that direction, reversing its present trend of increasing rates.
You may wish to give some thought toward whether you want total dependence upon government. Once you have no cash and money loses value the longer you hold it, that’s about all that will remain after you stop earning. If history is any indicator, once you are in such a position, government no longer sees any need to be generous, either.
It’s the sort of progress one should expect from political Progressives., after all.