We fought not just once, but at least 3 times to defeat this BS.
And of course there were the usual sheeple that are so brain-deprived they couldn't/wouldn't believe their government had ulterior methods.
Well, when President Bush says the new rules are designed to stop financial counterfeiting, smuggling and money laundering, HE IS A LIAR......hello.....look at the rules they put in play in the Caribbean on small island nations after they were talked into using financial services to stimulate their economies......now, they are black-balling these same nations BECAUSE THEY ARE NOT USING THE SAME TAXING STRUCTURES THAT THE OTHER 'BIG' COUNTRIES ARE!!! Hello.....check out the information Operation America garnered through countless hours of research and documentation of all this BS!
Can anyone truthfully say its no wonder all these other countries hate our guts!!
To:
Benighted; seattlesue; Keeper of the Flame; vinylsidingman; dixie sass; Ms. AntiFeminazi
"...I remember how we fought side by side, to prevent the Fed Reserve and 3 others from making KNOW YOUR CUSTOMER the law of the land. We fought not just once, but at least 3 times to defeat this BS. And of course there were the usual sheeple that are so brain-deprived they couldn't/wouldn't believe their government had ulterior methods. Well, when President Bush says the new rules are designed to stop financial counterfeiting, smuggling and money laundering, HE IS A LIAR......hello.....look at the rules they put in play in the Caribbean on small island nations after they were talked into using financial services to stimulate their economies......now, they are black-balling these same nations BECAUSE THEY ARE NOT USING THE SAME TAXING STRUCTURES THAT THE OTHER 'BIG' COUNTRIES ARE!!!... Can anyone truthfully say its no wonder all these other countries hate our guts!!
# 11 by Rowdee
************
That's not the worst, Rowdee.
Now our former comrades-in-arms consider us to be traitors,
because we refuse to accept what our leaders tell us.
When did it become a crime to question the actions of our politicians?
We can't even criticize the slanted news coverage
without being reminded that "we are at war."
Sorry, people.
There is no Declaration of War.
Bob Barr asked for one.
His fellow Congressmen didn't see any reason
to bother with that quaint requirement.
Me, too.
Buried in the more than 300 pages of the new law is a provision that "any person engaged in a trade or business" has to file a government report if a customer spends $10,000 or more in cash. The threshold is cumulative and applies to multiple purchases if they're somehow related -- three $4,000 pieces of furniture, for example, might trigger a filing.
The $10,000 threshold, established by the Bank (Anti-)Secrecy Act of 1970, has never been raised. Adjusted for inflation, the $10,000 minimum of nearly 32 years ago was equivalent to an approximate $45,000 minimum in 2000.
Last year, when legislooters were pushing HR 3886 (International "Know Your Customer") the Congressional Budget Office had to prepare an analysis of the bill's compliance costs, as that bill represented yet another unfunded mandate (a vital component of a fascist system). The estimated increased-cost imposition, for banks and financial institutions alone, was guessed to fall below the annual threshold allowed by the Unfunded Mandates Reform Act (UMRA), but, according to the CBO, "because compliance costs would depend directly on specific standards...established by the Secretary of the Treasury, CBO [could not] make that determination with confidence." (So much for the notion of representative government and a system of checks and balances, right? (Non-elected secretary of treasury=king?))
Given that the CBO figure of increased costs, for US banks and financial institutions alone (or, in actuality, the customers thereof) was in the neighborhood of $109 million per year, can you even begin to imagine what the figures will be for virtually all retail business in the US? (Now, there's an effective shot in the arm for an ailing economy. </sarcasm>)
Lest we forget:
In 1998, the total cost of combating money laundering in the US was more than $10 billion for the public and private sectors combined. Despite the additional filings of Suspicious Activity Reports (SARs), required as of 1996 and averaging about 10,000 per month, 1998 saw only 932 money-laundering convictions, representing a cost of more than $10 million per conviction. [Source]Close enough, for government work?
ROFLMAO, indeed.
{"I get these--ooh-ooh--suspicions"}
The real object of despotism is revenue.—Thomas Paine