The money coming in and out of your accounts may be tracked.
All US Bank accounts are accessible by federal agencies like the IRS and if they say you owe them...its on you to prove them wrong.
VISA and Mastercard are able to track your behaviors as well and they are vulnerable to leaking your private data.
In the technology era new monopolies like Paypal who owns Venmo and Jack Dorsey's Square who owns CashAPP are seeking a piece of your pie as well as the valuable trail of data that you leave behind.
The future has two main paths...a tyrannically one like the social credit system in China. That path uses a central bank controlled cryptocurrency where the government can control the rate at which your savings disappears.
If you break the rules of the tyrannical regime, you could be unbanked...unable to participate in the modern financial system.
The other path involves you having true sovereignty. In this path you would be able to choose what financial transactions are public or private.
And you can start to go down that path now in different ways. Sure you could store your cash in a safe and no one would know it exists, but cash is a depreciating asset.
One way is to buy physical silver and gold. If you buy in increments under 10k USD you don't have to report it to the government.
There are now precious metal backed cryptos available that allow you to redeem the crypto for physical metal.
Another option is to use a privacy based cryptocurrency.
Privacy focused cryptos like Monero, Zcash, and Dash are highly rated cryptos which have continually appreciated in value over the years.
They are among the top cryptos in the world for a reason. Their technology is good and their teams continue to innovate.
For those of you who don't know, Bitcoin is not truly anonymous. In fact the government likes Bitcoin because they can easily track the financial transactions of criminals.
Right now, the government tracks your crypto through cash on and off ramps at crypto exchanges that report to the government.
And if your crypto gains value and you sell it, you are liable for capital gains taxes.
That's why many crypto investors and businesses choose certain jurisdictions like Puerto Rico where they can pay less taxes.
I'm very interested in a small crypto project called Incognito Chain and their PRV token.
In their APP you can send and receive major cryptos like BTC and ETH with a privacy shield using advanced cryptography. You can also buy crypto anonymously on their decentralized exchange (in the app).
Their APP doesn't require an ID or phone number. Hmm, looks like the greedy government would have a hard time tracing those transactions.
This is a preview of the future...where you are the sovereign...not the government. Where you keep the whole pie, instead of giving some to Jack Dorsey or the Rothschild family.
Oh and even though Paypal, Venmo, Cashapp, Western Union, and others want a slice of your pie...a new competitor is in town.
Check out this APP called Strike where you can send money without any fees at all. You don't have to use crypto, you can use USD, but they use the decentralized Bitcoin network to process transactions.