Elites Seek Control Over Rising Cashless Society

Elites Seek Control Over Rising Cashless Society


http://www.infowars.com/?p=2866



The terrorists in the federal government are continuing their push to implement a cashless economic enslavement system. According to a legislative notice from the U.S. Senate, a new Housing Bill (HR 3221) contains a provision that will require nearly every online credit card transaction to be reported directly to the Internal Revenue Service. The insanity of this is obvious and it is nothing more than a way to give the government a means to track and trace as many private transactions as humanly possible. Previously, Visa’s CEO has stated that it is their goal to establish a cashless society by the year 2012. As technology increases, a greater number of businesses are accepting credit card payments. It wasn’t too long ago that fast food restaurants wouldn’t accept anything but cash for payment, now almost all of them accept credit cards. We are also starting to see biometrics utilized as a way to facilitate transactions. The bottom line is that there is an agenda at play to setup a cashless system that will allow the elite to take total control over the global economy. These people want to eliminate privacy in mutual exchanges and this is another step in doing just that.

The following is taken off of the legislative notice from the U.S. Senate Bill summary describing this draconian reporting scheme within HR 3221.

The proposal requires information reporting on payment card and third party network transactions. Payment settlement entities, including merchant acquiring banks and third party settlement organizations, or third party payment facilitators acting on their behalf, will be required to report the annual gross amount of reportable transactions to the IRS and to the participating payee. Reportable transactions include any payment card transaction and any third party network transaction. Participating payees include persons who accept a payment card as payment and third party networks who accept payment from a third party settlement organization in settlement of transactions. A payment card means any card issued pursuant to an agreement or arrangement which provides for standards and mechanisms for settling the transactions. Use of an account number or other indicia associated with a payment card will be treated in the same manner as a payment card. A de minimis exception for transactions of $10,000 or less and 200 transactions or less applies to payments by third party settlement organizations. The proposal applies to returns for calendar years beginning after December 31, 2010. Back-up withholding provisions apply to amounts paid after December 31, 2011. This proposal is estimated to raise $9.802 billion over ten years.

Groups like Freedomworks and companies like EBay have already come out denouncing this provision. The bottom line is that the federal government has no right to demand this type of information. Not only that, but how does the IRS intend on securing this information that they are going to collect from all of these online transactions? The whole concept is ridiculous and an obvious invasion of privacy. This is just another control mechanism that is being put in place so the establishment can eventually have the capabilities to track and trace every single electronic transaction. Clearly, a totalitarian big brother system is being put into place, and these criminals in Washington DC are just trying to take it to another level by hiding this provision in a 600+ page bill. It is a disgrace.