Many naïve souls might say they don’t care if Spotify, cell phone providers like AT&T, or the NSA are collecting the data that defines their lives. They argue that “I have nothing to hide. I am not breaking any laws, etc., so why are people so paranoid?”
What these people fail to grasp is the reason there is a hunt for data (actually money), and the impact it has on capital – you know, that critical ingredient that is required to start and grow businesses. The reason the velocity of money is at 1950’s level and the world economy is contracting is due to capital getting off the grid because broke govt’s are on the prowl for anything that can be converted to cash. The abuse of the Constitution and our privacy has little to do with stopping terrorism, and everything to do with tracking money and the loss of trust and confidence, which is the foundation for a strong economy.
The use of the internet, and other methods of data collection, is just part of what awaits us in the coming age of aggressive tax and asset confiscation. While we certainly have our examples of desperate govt’s, like Chicago that recently took first place with the highest sales tax and property tax hikes, pervasive civil asset forfeitures and the ticket fund raising of cops; Europe is setting the pace in the elimination of freedoms to confiscate money to feed the insatiable appetite of a broke govt.
The most troubling trend is the need to eliminate cash so govt can have access to your money when ever the need arises (i.e. bail-ins, negative interest rates). This will be accomplished by moving to electronic money. If you don’t have a bank account, don’t worry, you will be forced to have one, as the EU is already planning. Britain’s PM, George Osborne, will be running the wealthy off and sending real estate into the toilet with his “shock tax” that was unveiled on July 8th.
We will get our turn to see how desperate govt can get once the govt’s of Europe, Japan, and the Emerging Markets chase their country’s capital into the relative safety of the US dollar, which will be made more attractive when the Fed starts raising rates to avoid bankrupting pensions and insurance funds that are mandated to have large portions of their assets in fixed income.
There are several aspects to the unconstitutional acts of collecting private data and spying on us without a court order. Some are obvious, others may require a little more thought and information. First, the obvious – it’s UNCONSTITUTIONAL! A country that ignores the rule of law will fail to remain a country. For a responsible electorate, this should be enough, but we know there needs to be a more personal reason for people to care. As we have discussed ad nauseam, that reason is economic.
Govt’s around the world are getting broker by the day, which is causing them to implement more desperate measures to get their citizen’s money, instead of reforming. NSA actions and regulations like FATCA, which forces foreign banks to report details on American account holders, is contracting the global economy. Does the economy grow more effectively if capital is confiscated and wasted by govt, or if it’s parked in fine art, diamonds, and high-end real estate, or if it’s available for business creation and growth?
The data that is collected on you NEVER goes away, and if it ever needs to be used against you for any reason, it will. Our convoluted and fraudulent criminal justice system has insured that everyone breaks laws everyday that they are not even aware of, which means when the law needs to be used against you, it will. Equally obvious is the fact that knowledge is power, and thanks to whistleblowers like Edward Snowden, it is widely known that the NSA collects information on key people for the purpose 0f blackmail and coercion, which includes political figures, military leaders, and Supreme Court Justices.
So, even if you don’t think you have anything to hide, you’re missing the point. What everyone should be doing is taking a stand against the unconstitutional confiscation of your data because of what it is doing to the economy and our freedoms.