Friday, September 13, 2013

Paying Cash Makes You A Terrorist

All right, we are not quite there yet, but it is looking more and more like the Federal government wants us all corralled into their big system:

Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year — up to 42 billion transactions – through a controversial data-mining program, according to documents obtained by the Washington Examiner.

A CFPB strategic planning document for fiscal years 2013-17 describes the “markets monitoring” program through which officials aim to monitor 80 percent of all credit card transactions in 2013.

The U.S. Census Bureau reports that 1.16 billion consumer credit cards were in use in 2012 for an estimated 52.6 billion transactions. If CFPB officials reach their stated "performance goal," they would collect data on 42 billion transactions made with 933 million credit cards used by American consumers.

In addition, CFPB officials hope to monitor up to 95 percent of all mortgage transactions, according to the planning document.

No, this isn't the NSA spying on Americans. It is merely another agency doing so. But I wonder: would a law enforcement agency need a warrant to access that data? It is already in the Federal government system after all.

There is no reason for this agency to do this. Consider the fact that they will not lift a damn finger to help you should your identity be stolen, then why are they collecting this data to begin with?

Notice too that all of these transactions they are monitoring are going to be debt-based. In other words, if you have debt, or are going into debt, you will be tracked and monitored by Big Brother.

There is a simple way to counter this of course, but most people are too short-sighted and greedy to avoid it.