CAN THE GOVERNMENT SEIZE YOUR MONEY?
George Wilson Adams CPA MBA
February 26, 2022
Dictatorship In Canada
In February, 2022 the far-left Prime Minister of Canada, Justin Trudeau, declared a state of emergency and invoked powers reserved for war time conditions. This tyrannical act was his response to peaceful protests by truckers demanding an end to government vaccine mandates and Covid madness. These emergency powers gave the Canadian government the authority to arrest people at will, freeze bank accounts, and seize funds in bank accounts with no due process of law.
Subsequently, my office was bombarded with calls and emails from panicked clients and others who sought my advice on what to do. I advised them and I advise you TO GET YOUR MONEY OUT OF CANADA RIGHT NOW. While it is true that after a massive backlash Trudeau suspended these emergency powers ten days later, the fact is that the dog has bared his teeth. The integrity of the Canadian monetary and banking system is gone. Trudeau, and the radical majority in the Canadian Parliament, could re-instate these dictatorial rules at any time. Trudeau is a great admirer of the Chinese communist dictatorship, as revealed in these comments he made in 2013:
"There’s a level of admiration I actually have for China. Their basic dictatorship is actually allowing them to turn their economy around on a dime…."
See:
TRUDEAU IS A FAWNING LAPDOG FOR COMMUNIST CHINA
Anyone with accounts or other assets in Canada should liquidate them at once and find a safer haven for your hard-earned money.
What About the U.S?
These recent events in Canada simply beg the question: Could It Happen Here? The answer is YES. The U.S. Federal government has vast powers to seize assets under the Patriot Act, forfeiture laws, and many other obscure and little known rules.
However, we still have (at this moment) a robust, working court system that generally upholds property rights and contract law. Therefore, I remain mostly confident in the integrity of our banking system. The IRS is required to follow many rules and provide adequate notice to taxpayers before it can take money from your bank account or seize assets. See IRS Publication 594.
It's a different story with private organizations like Go Fund Me, which received approximately $10 million in contributions for the Canadian Truckers. In an infamous act that destroyed their integrity and credibility, this radical far-left organization based in California announced that it would simply steal the money donated to the Canadian Truckers and give it to organizations of their own choosing. After being threatened with criminal and civil litigation for fraud, Go Fund Me ultimately returned the money to the donors (but not to the Canadian Truckers.)
Never use Go Fund Me for any purpose. They cannot be trusted.
As an accountant and student of economics I cannot emphasize enough the fact that all paper money derives its value from trust. Bank accounts and the money they hold have value only if people trust the integrity of the banking system. When that integrity is compromised the public will lose faith, panic, and the system will collapse.
Many believe Trudeau backed down and cancelled his emergency decree because the Canadian banking system was heading into a death spiral in response to his threats. See:
Canada has fallen to the enemy.
Hedge Your Bets
In this toxic era of history it has now become impossible to remain apolitical. All the major issues of life, including work, money, and freedom itself are unavoidably political questions that reveal your fundamental values. Good people will support freedom, oppose censorship, and demand the kind of real science practiced by Galileo, who dared to challenge established orthodoxy, even at risk of being executed. Real science requires the free and open exchange of information, the right to ask questions and publish research, and to think without limitation. You can have one of two things: science or a closed mind. You cannot have both simultaneously.
In this high-risk environment it is smart to hedge your bets. While I said above that I am "mostly confident" in our own banking system I do believe it's a good idea to have enough cash on hand to pay for 10 to 20 days of ordinary living expenses. I also think that gold and other precious metals are a great investment in this era of history and offer a high degree of protection from rising inflation caused by the trillions of dollars printed by the federal government in the past two years. For those of you who want to find out what happens to countries when their government ignites inflation by printing large amounts of money see the many free articles available on Mises.org and the Brownstone Institute at Brownstone.org. See:
And
Another hedging strategy appropriate for these dark times is to stockpile at least one month of food. Many companies offer emergency food with a ten year shelf life. Canned and ready to eat food is better than food that requires cooking. Also keep an extra supply of medications and batteries. Invest in a self-winding or solar radio that includes shortwave as well as self-winding flashlights.
Finally, invest in communities of like-minded people who share your values and who will cooperate and work together especially during bad times.
I have a client who truly believes he is prepared for the end of the world. He installed solar panels for his home, drives an electric vehicle, and stockpiled food, guns and ammunition for self-defense. But let's expose his structure to scenario analysis: imagine the end of the world actually occurs. This person (let's call him "Mike") is the only one in his suburban community with electric power, heat, and food. His neighbors freeze and starve in the dark. How long will Mike hold out when a mob of desperate people come to kick his door in and take what he has? How smart is Mike?
The best survival scenario is an island community of like-minded people who work together and watch each other's back. Small communities have a far greater chance of survival than the strongest, best stocked bunker inhabited by only one or a few people. (Note that there are many definitions of "island".)
When Rome fell in 476 A.D. a new dark age of history began: feudalism. Small communities arose to defend themselves from the barbarism and chaos that befell Europe after the collapse of the Roman Empire. It is wise to learn from the lessons of history.
A storm is coming. Be prepared.
George Adams
Certified Public Accountant Master of Business Administration
Tel: (207) 989-2700 E-Mail: GeorgeAdams@IntelligenceForRent.com
450 South Main Street: The HQ of IQ
Brewer, Maine 04412-2339
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