The Tom Woods Show Ep. 2496 The Rise (and Normalizing of) Financial Surveillance
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May 25, 2024 Naomi Brockwell discusses the history of financial surveillance, legislation impacting privacy, risks of surveillance normalization, implications for cryptocurrency, and the importance of reclaiming privacy rights in a digital economy.
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Financial Privacy Defined
- Financial privacy means controlling your transactions and data.
- It shouldn't be shared with countless third parties without consent.
1970: A Turning Point
- The 1970 Bank Secrecy Act fundamentally changed our financial privacy by requiring banks to report transactions over $10,000.
- Inflation has eroded this threshold, increasing surveillance without new laws.
Legislation During Crises
- Government uses crises to pass legislation they couldn't otherwise.
- The Patriot Act's financial surveillance provisions weren't widely known.