A new Senate bill will start forcing citizens to report cash and other assets not held in banks. This bill is stated to combat terrorism and money laundering. But is it? It seems to most like just another government attempt to steal assets and raise revenue for social programs. As this bill will give the government the authority to track assets and seize them should an individual fail to report independently held assets exceeding $10,000.
Civil forfeiture is another word for government robbery of your cash, gold, property and other assets. The most alarming aspect of civil forfeiture is that even a court verdict of not guilty doesn’t guarantee the return of state stolen assets. All the government has to do is suspect individuals of committing crimes to permanently confiscate your property.