Posted on 09/29/2021 7:38:17 PM PDT by jfd1776
How many anti-money laundering investigators is the average ban going to have to hire now?
And what if they don’t keep up with their booster shots?
If you’re not doing anything wrong you don’t have anything to worry about. It’s not like the democrats would use the power to destroy their political enemies. Right?
Next up, Cashless society.
Somewhere along the way, it was increased to $20,000.
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Nope. Still $10,000. A Currency Transaction Report Is required at transactions at or above $10,000.
A “healthy distrust” of the government doesn’t even scratch the surface of my distrust of that GD out of control behemoth that cannot be reined in, even by Supermen like President Trump.
“Next up, Cashless society.”
THAT’s when some real serious tyranny will be enabled.
The Federal Reserve will be your bank.
Do we need to report every rent/mortgage payment, car repair, health insurance deductible, etc. to the government? This is going to be an expensive mess. Even FedGov will pass on all this information except when they want to target someone.
That is a LONG article full of gas that says nothing.
Expanding the already long reach of the government is wrong and anathema to our freedom. It is a major step toward full-blown tyranny and it is not allowed anywhere in our Constitution.
Not just $10,000 per transaction. If it is suspiciously close to $10,000 they may report it, or, if it is a series of transactions that total $10,000 or more.
When the “crossing the border with $10000” law was passed, that 10 K would buy you 2 brand new Corvettes and a trailer to haul them with.
Now you can’t even buy a crappy econobox with DOUBLE that amount.
This has nothing to do with anything other than monitoring and control of the public.
This article totally misses the point.
While the current $10,000 threshold May be a legitimate goal of Federal Government, the attempt to down it to $600 is NOT to combat under the table transactions , IT IS TO MONITOR ALL Americans transactions !
So does that mean we no longer have to send out 1099s?
Well our daily job then is withdrawal all of your money from the bank in $601 increments and re-deposit them. screw them.
That’s true. Not a CTR, but an SAR may be filed in those instances. A Suspicious Activity Report.
And SARs never had a floor, although $5000 is a general rule of thumb in most circumstances.
While serious, offensive, invasive and just wrong this is mild compared to other crap they plan to rain down on us.
Another bright and shiny object to distract us.
Squirrel!
Because strucuring is a crime even if the source and use of the money is legit.
Soon they will be requiring we report what we are going to do with the $600 before we are allowed to withdraw it.
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