You may not think the IRS is out to get you, but consider this recent story from the Washington Post.
Richard Severson – a 61-year-old farmer from Maryland – earned his living selling milk and eggs at farmers’ markets throughout Fredericks County.
The business left him with lots of cash. And naturally, he decided to deposit it into his account at the bank.That's when the trouble started...
After several deposits of nearly $10,000 in hard-earned cash, the IRS took notice. Calling his deposits “suspicious,” they froze Severson’s bank account and seized $63,000 without warning.
That was three years ago. Richard has been fighting to get his money back from the government ever since.
What did he do to deserve this?
Apparently, Mr. Severson had violated an obscure banking law: the Bank Secrecy Act of 1970. As a result he was labeled a “drug dealer” and “money launderer.”
Incredibly, this is not an isolated case. His is just one of many shocking stories from around the country.
In 2013, the IRS seized $35,000 from a 70-year-old grocery store owner in Michigan. Like Severson, he had made too many small cash deposits into his account. It took more than eight months before he was allowed to see a judge.
Last year, the owner of a gas station in rural North Carolina lost $107,702.66 – his entire bank account – to the IRS. He, too, was targeted after depositing his business’s cash earnings in a way the federal government deemed “suspicious.”
And Army Sgt. Joe Campo lost $66,000 to the IRS for exactly the same reason. After the financial crisis, he began saving cash to put his daughters through school. But when he finally tried depositing the money, the IRS stepped in. His daughters’ educations had to wait.
What’s more, Sgt. Campo – along with the other victims – was never charged with a crime.
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Of course, government officials defend the practice as the way to catch America’s real drug dealers and criminals. But others – Republicans, Democrats, and Tea Partiers alike – remain skeptical.
Critics say it brings to mind the massive seizures by Cyprus banks in 2013. Some go further, alluding to FDR’s nationwide gold confiscation in 1933.
Maybe they are too bold. But according to new revelations – just released online – the government’s recent attacks on cash aren’t completely without reason.
In fact, the real cause is far more disturbing…
According to recent research, it would appear $4.5 trillion has now been spent fighting a fatal flaw in the U.S. economy...
One that even Janet Yellen – chairwoman of the Federal Reserve – has referred to as America's biggest economic risk.
A former official from the Treasury Department described the most likely outcome:
“Literally, your ATM wouldn't work. You type in your code, no money comes out. You get your paycheck, you can’t cash it.”
And according to a video – posted online HERE – we’re about to experience that firsthand. And very soon.
It comes from a private news and research network that usually reserves information like this for private subscribers.
How long the video will remain online we don’t know. But for the moment, it’s available HERE (for FREE). We’d strongly recommend you watch it right away.