Posted on 08/31/2021 10:21:12 PM PDT by Sequoyah101
all set for the great reset a digital economy where they will tell you what you need to survive and the rest will go into a pool to be used by others. Your money shared
That’s insane. I’ll have to try that and see if my bank does that.
bfl
I have read elsewhere GB and the EU want to be cashless by 2030 or so.
You can have 100,000 Euros cash. You can’t buy anything that costs more than 1000 Euros unless you pay for it with a bank card. That won’t affect private sales much but if you go to a store and want to buy a new refrigerator and it costs over 1000 Euros they will ask you for a card. If you want to buy 3 separate items for 999 Euros each and pay cash then that’s no problem.
And the penalty for failure to report the foreign accounts is 50% of the highest balance in the account during the year.
In your case it would be $10,000 x 50% x 3 accounts or $15,000 per year. They usually hit multiple years.
Thus it is easy to accidently create a liability far greater than the account balance and they end up seizing your other US bank accounts to pay the penalty.
Oh you have to report that, it just isn’t taxable.
In theory it doesn’t sound so bad until you think about what happened in Cyprus.
I’m pretty sure the Vending Company I used to work for was doing it. What better cover. They did some big Biz for a 10 truck fleet. I ran the Inventory of Soda and Packaged food, Coke would send 2 40’18 wheelers every week of pallets stacked 2 high, Pepsi was 1 truck a week, Frito Lay product was 1 truck a week stacked floor to ceiling, Candy and Snacks 1 truck a week, Juices, milk, Snapple and Water. My office was 20’ x 20’ with a small desk, a chair, a 286 processor computer and printer, 1 phone line. The rest of the space was every Candy bar on earth wall to wall and floor to ceiling. I used to almost get sick walking into a Convenience Store and see the Candy aisle for several years after that job. Down the street was the Sandwich Shop making fresh ones every day to keep fresh ones in the machines. The Drivers would come in after servicing the machines with several (4-5) cloth bank bags each full of change.
Ha...and the last of the coupon bonds will expire in 2036 IIRC. I think. NY Muni 7s of 36 I think. 50 year bond. THere are 100 year bonds out there at 5% but they are DTC.
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I think I like your bank.
Banks usually charge a monthly fee....unless you keep more than a thousand or so $ or a regular deposit into the account.
At the first of the year I drew out $4000 to go on a gun and ammo shopping spree at Arkansas’s largest gun show and the gal at my bank in casual conversion asked me what I was planning on buying..Since I work for the largest Bank in Arkansas I knew exactly what she was fishing for..I popped off and said well going to go buy as many guns as $4000 will get me..The look on her face was priceless...
The answer would be Las Vegas casinos. I believe there was a bunch of mob bosses jailed for just that.
The way things are going I think they will soon take a big interest in people who buy and sell silver and gold coins....
Good old walton bank I presume.
No my hometown bank..I am boycotting Wal Mart for a variety of reasons..
Social Security payments are over $600.
Does this mean that every bank account must be reported for all activity?
House payments are over $600.
Property taxes are over $600
Car payments are over $600
Cell Phone payments are easily over $600
Credit card payments can easily be over $600
This will bury banks with paperwork.
To what end is all of this???
OR are they only talking about savings accounts & money market accounts?
Those accounts Obama & Pelosi wanted to seize a number of times. Ala Argentina....which did that 2 TIMES.
They probably already do!
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