When Ken Quran found out in 2014 that his entire life savings had been seized by the Internal Revenue Service (IRS), he didn’t know what to do.
Quran runs a convenience store in Greenville, N.C., and makes frequent cash deposits into his bank account. But that year, he discovered that the IRS took $153,907.99 out of his bank account. He wasn’t, and still hasn’t, even been charged with any wrongdoing. Nevertheless, he woke up one day to see the nest egg he’d worked so hard to earn disappear in a flash.
How can the IRS even act as if it has the authority to simply steal money to which it has no claim?
The IRS’s act of confiscating Quran’s life savings is part of a series of ongoing attempts by governments worldwide designed to eliminate freedoms from ordinary, law-abiding citizens.
In this case, Quran fell victim to a particular piece of insidious legislation aimed, in government parlance, at “curbing money laundering.” As banks are now viewed as arms, or extensions of government overreach, the IRS requires banks to report any cash deposit totaling over $10,000.
To make matters worse, the “public servants” in Washington, D.C., have tried to paint anyone who deposits cash in amounts that are just below the $10,000 threshold, as seedy characters who are trying to hide their activities. The IRS created the term “structuring,” which relates to the criminalization of any deposit made under the threshold it unilaterally created.
“This is a clear example of how easily the National Government can supersede the limited scope of their authority they are granted,” said Adele Weiss, principal at Weiss+Associates, a European-based consultancy firm specializing in the U.S. Federal Income Tax.
“Where are search-and-seizure laws used in the case of Mr. Quran? Where is reasonable suspicion? It’s one thing to inquire about such deposits — it’s an entirely different thing to not investigate before demanding an inquiry, and it’s utterly outrageous to simply confiscate someone’s property without charge. Perhaps it’s time to review the definition of theft!”
Recently, Quran discovered that the IRS was going to return all of his money, even though he had to fight to get it back, as well as live for nearly two years without the ability to invest his own hard-earned capital.
Other examples exist of governments around the world tightening their citizens’ freedoms, purportedly acting in the name of some conceptual war on drugs and terror. More accurately, the abhorrent tactics used are part of a bigger war on individual liberty.
Recently, the European Central Bank acknowledged it’s consideration for doing away with the 500 EUR note. Closer to home, former U.S. Treasury Secretary Larry Summers wrote an op-ed piece in The Washington Post, suggesting that the U.S. Federal Reserve should do away with the $100 bill.
It’s clear that the criminal cabal that exists between Wall Street and Washington is conditioning ordinary citizens to accept this obvious breach of the 4th Amendment, which guarantees personal privacy unless a warrant showing “probable cause” is produced against the named individuals.
But what is the bankers’ and the government bureaucrats’ end goal?
“Not only does government want to break the American spirit of individual sovereignty, but there is a financial aspect to what they are wanting to accomplish,” added Weiss, whose firm helps Americans protect their assets in a rapidly changing world landscape.
“As their debt-based monetary system crumbles, they are trying to make sure we everyday citizens are forced to continue operating within a controlled environment — one THEY control for their purpose and not yours. This only further emphasizes the need to diversify and perhaps eventually remove oneself from a status within any particular country that acts in such a fashion. Today, there are many Americans and Europeans seeking to invest in alternative forms, including gold and silver.”
Quran can consider himself fortunate to have at least received all his money returned to him, although, it remains unclear whether the IRS will compensate him for his loss of potential interest income, or for damages incurred from its theft.
Unfortunately, the activities of his cash-based business were wrongfully targeted by a rapacious government bureau. Quran’s experience is not unique. Weiss adds:
“The lesson here gets back to what the Founding Fathers stressed. Privacy is a vitally important aspect of the life of American Nationals. We don’t lock our doors or close our curtains because we have something to hide. We choose what information we share with others. It’s a fundamental part of the fabric of our society, and the government — our servants — should have utmost respect for that. Freedom and a respect for individual rights must be stressed above security. Submitting to fears and cries for security being offered by the government, at the price of freedom, historically has shown that both individual freedom and security are eventually lost.”
Although the IRS said it was discontinuing the practice of asset seizure of certain individuals, conscientious citizens should be skeptical — and prepared.
“Having bank accounts outside the United States is paramount for a myriad of reasons,” Weiss analyzed. “I’m not sure if that ability will be available to most Americans five years from now.”