Money is an essential in our lives. It may be a necessary evil: “For the love of money is the root of all evil;…” (I Timothy 6:10 [KJV]) Regardless of its power for evil or good, we need a medium of exchange to reward our work and to pay for our needs and wants. If government could control and monitor the money supply and economic transactions and use that control to regulate our lives, we will no longer be a free people. Hence, we must protect the liberty and privacy of the money supply from government intrusion.
It starts with seemingly innocent things. The beginning of government control of money is the income tax. This was a sea change: Your money is not yours anymore. The government now had a legal right to regulate financial transactions. Now there are money laundering and structuring laws as well as regulations on the bulk importing of money (in the USA Patriot Act) into the United States.
Today many of the monetary transactions are online or electronic. This electronic monetary systems report from the European Central Bank discusses the issue. It has in this chilling paragraph (in Section 4.1) that the issuers of electronic money be “subject to ongoing supervision by a competent authority”. That authority is government. That supervision will be justified by identify theft and related offenses. Identify theft is a great problem. But government is not necessary to prevent it. Governments certainly have a role in punishing fraud. However, the plethora of companies trying to prevent identify theft show that government control of the money supply is not the answer to identity theft.
Senators Schumer and Graham recently proposed a biometric ID card for all legal workers in the United States. The biometric feature is being considered internationally as evidenced by this from the report by the International Organization for Standardization:
Biometrics is increasingly considered as a reliable means of identification. It includes technologies such as finger image, voice identification, eye scan and facial image. Its advantage and appeal lies in its convenience and ease of use, its level of apparent security, performance and non-invasiveness.
The combination of the national/international ID card and electronic monetary system is a recipe for government control of the money supply and thus control of the people.
Nearly 2000 years ago, these words were penned on a obscure Greek island. Many (including this writer) believe they are the inspired Word of God. These words speak to a future time bereft of economic liberty:
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand or in their foreheads: And that no man might buy or sell, save that he that had the mark…” Revelation 13: 16-17 (KJV)
It’s better that a few bad guys get away than that all lose our liberty. This is no excuse for not paying taxes or reporting income but we must find legal ways to fight for liberty in monetary transactions.
This post is an entry in the blog contest responding to the new book, New Threats to Freedom edited by Adam Bellow. The contest is open to all and further information can be found here.