Government Financial Spy Plan
by Unknown Author

In 1984 (George Orwell's infamous chosen year), the US Internal Revenue Service first proposed creation of a government controlled, real-time computerized national financial spy system allowing the IRS to monitor all financial transactions of every person on an instant basis, looking for signs of tax evasion or any other criminal conduct. IRS Doc 84-6941

On Oct. 23 we reported that government and banking officials were negotiating a plan to deputize banks as a front line for federal police in detecting suspect financial transactions; that FBI agents already were stationed full time in selected US banks.

Yesterday the Wall Street Journal reported that leading US banks, financial firms and federal police agencies are nearing an agreement that will give the police sweeping powers to trace 'terrorists' cash using just such a real-time spy system. The network will cover banks initially, but eventually brokerage houses, mortgage lenders, insurance firms and wire transfer companies.

The New York Clearing House, which facilitates payments between banks, is leading the talks, including officials from several large banks, J.P. Morgan Chase & Co. and Citigroup Inc., the FBI and the Treasury.

Of course the justification for this mass destruction of what's left of financial privacy is yet again the usual "fighting terrorism" excuse.

This new police spy network may be piled on top of the US Treasury's Office of Financial Crimes Enforcement Network (FinCEN) with thousands of employees raking in millions of suspicious activity reports, few of which every produce an investigation, let alone a conviction. State and local police, the FBI, the IRS, the DEA, Customs and Postal inspectors all have instant computer access to FinCEN files.

This latest assault on privacy fleshes out government plans for a cashless society where the IRS has electronic surveillance over every transaction ranging from ATM machines to credit card purchases, from bank account statements to grocery store bar code check out counters.

There can be no justification for this outrageous intrusion into the private lives of millions of Americans. Government already has means to pursue criminals without reducing us all to being herded like so many sheep. But perhaps the majority of Americans have become sheep.

If there was ever a time to "go offshore" financially, it is NOW!

Source Articles:

  • Oct. 23 articles on FBI-bank cooperation:

  • Wall Street Journal, Nov. 26:

  • FinCen:

  • New York Clearing House:

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