New Jersey Gym Owner Claims State Seized $165,000 From His Bank Account

A New Jersey gym owner that refused to abide by state Covid-19 closure rules says the state drained his bank account — all $165,000 of it.

Ian Smith owns Atilis Gym in Bellmawr, New Jersey. He announced on Instagram that, “As of this morning, without warning and without permission and in the middle of litigation, Governor Murphy took it upon himself to empty our bank account entirely.”

According to Smith, the gym has not charged its members since April 1, 2020. However, he had received money thanks to donations. These donations, he says, have enabled him to pay his bills.

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The gym owner was arrested in July after allegedly violating lockdown orders mandated by the state. Ever since, he has been embroiled in litigation with the state of New Jersey.

(And, hey, you wonder why bitcoin is at $36,000 US dollars in price?)

Bitcoin Surge Fueled By Growing Fears Of Big Government

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In all seriousness, as you consider Smith’s allegations, it’s becoming easier to understand why so many investors are considering bitcoin. The crypto currency is, increasingly, becoming almost main stream with even Mass Mutual committing $100 million to bitcoin in recent days.

Some Americans feel increasingly powerless against big tech and big government in light of recent events.

Whether it’s Parler out of business after getting booted by Amazon’s server, or individuals like Congressman Ron Paul wondering why Facebook would ban them from using an account (it has sense been restored) — or, even 75 million people that voted for the Republican nominee worried that the current environment will try to rob them of their rights… there is an overall concern right now that government is becoming too invasive and, as such, many are looking to bitcoin as a way to protect their assets from government outreach.

Ultimately, the currency itself I suspect will increasingly run into problems with the government. The technology behind it, the blockchain, is significant and will increasingly be incorporated into our lives. But, China is aggressively working on its own digital yuan while the U.S. is working on a digital dollar. The threat of “cash” on the internet is quite extraordinary for governments, so it will prove to be a critical couple of years for bitcoin.

 

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Trish Reganhttps://trishintel.com
Trish Regan is an award winning financial journalist, an American television talk show host and author who interprets political events through an economic lens.

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