[RoosterRedux]

Not buying this.

I move larger amounts of money around between bank accounts and brokerage accounts and have never had the slightest problem.

[Attention Surplus Disorder]

Green cash?

That’s the crux of the matter.

[airborne]

It does say the Feds "are urging banks"

Doesn't mean every bank will follow.

Yet...

[Vaquero]

Not buying this.
I move larger amounts of money around between bank accounts and brokerage accounts and have never had the slightest problem.

YET!

[old curmudgeon]

My suspicion is that the banks and the government are trying to force all funds to remain in the banks in case there is a world wide collapse.

In other words, stop the preppers from hoarding cash that would otherwise be in the banks.

[buckalfa]

"Not buying this. I move larger amounts of money around between bank accounts and brokerage accounts and have never had the slightest problem."

I am sure that is because your fund transfers are electronic and can be easily traced and recorded. No need to hassle you. The problem is with cash and crimes too often associated with money laundering (drugs,gambling, and terrorism).There is a formal reporting requirement for cash transactions $10K or greater.

[grania]

This is about reporting large CASH withdrawls. The feds already have a record of what you move from one account to another.

The sale of silver eagles spiked this year and last. It's the tip of the iceberg. As people lose trust in the banking system, and there's next to zero interest payment on savings, more people are keeping ever larger sums of cash and things like silver bullion hidden away from the feds.

This reporting of taking out $5000? The next step (this is pure speculating) will be restricting how much money people can take out of the bank. The goal is a cashless society in which all purchases and income are monitored.

Pure speculation. But it does seem to be the way things are going.

[KarlInOhio]

If you move it between accounts without getting it as cash there is a permanent record of the transactions which can be looked at later. It is the private and anonymous traits of cash transactions the government wants to end. Rather than outlaw cash, they just want to make it more and more difficult for anything but buying you cupful of racial enlightenment at Starbucks.

[servantboy777]

There is already a federal guideline that all bank deposits over $10K are to be reported. This was enacted to help in the war on drugs.

[The_Reader_David]

It seems to be an announcement of a new policy. Wait.

[JimRed]

I move larger amounts of money around between bank accounts and brokerage accounts and have never had the slightest problem.

By withdrawing, carrying and depositing it in cash?