You Will Own Nothing: Part II
A Former Treasury Official Says You Already Don’t!
In YOU WILL OWN NOTHING, Part I, we shared a video of a Canadian man trying to withdraw a few thousand dollars from his bank account. The bank wanted a document of some sort to show what he was going to do with his money.
There is more of this sort of thing going around than most people suspect. It is not just happening at the level of local banks. A former US Treasury official suggests that you may have already lost ownership of your retirement and investment accounts on a national level. You will own nothing!
Meanwhile, the US government is making clear to the rest of the world that their dollar holdings are only theirs when Washington says they can have them.
Locally. Nationally. Internationally. Title to assets and control of monetary resources is under assault. You don’t have to be Carnac the Magnificent to see where this is headed.
On the international front, Congress didn’t just pass a bill to give away $95 billion in foreign aid money we don’t have, it also included a provision that will allow Washington to steal billions of dollars owned by Russia. Bill Bonner says that the measure is the equivalent of if France, in response to the US invasion of Iraq (remember the Weapons of Mass Destruction that didn’t exist?) had seized the bank accounts of Americans in Paris.
This is what is meant by the weaponization of the US dollar. It is why US dollar owners around the world are growing wary of the dollar. They fear correctly that they will own nothing!
That fear is driving a move to more trustworthy alternatives. It explains the move by foreign central banks to own more gold. Gold is the most trustworthy money in the world. It depends on no one’s promise. Gold is its promise!
The US is undermining its own currency. Washington is shooting itself and you in the foot. That is because the value of the dollar has long been buttressed by its international reserve status. Pull out the support system, and everything will cost you even more.
What about your ownership of your investment and retirement accounts? Paul Craig Roberts says, “you may have already lost ownership of your banking, pension, and investment accounts.”
Roberts was an assistant secretary of the US Treasury in the Reagan administration and an associate editor of the Wall Street Journal. He explains:
Your “ownership” has been reduced to permission to use your assets until the financial intermediary holding them gets into financial trouble. At that moment, they cease to be your property and become the property of the creditors of the intermediary that holds your accounts, whether it be Merrill Lynch, Schwab, Wells Fargo, TIAA, or whoever. Your dispossession was done quietly over many years by regulatory agencies. This is what Klaus Schwab of the World Economic Forum means when he tells you that “you will own nothing.” You already don’t.
So, there you have it. Faith is collapsing in the property rights the people must have in their financial assets. Internationally. Nationally. Locally. You’ll own nothing… unless you own gold.