Remember he “Know your customer” plan a few years back? That was defeated soundly.
Remember the Bank Secrecy Act? Under that law your bank must file a report with the Federal Government every time you engage in a transaction with the bank involving more than $10,000 in cash. If you deposit $10,000 in cash the bank files a report. If you withdraw ten grand, the bank files a report. You are not told the bank is filing a report nor given a copy of the report?
Well … Section 365 of the USA Patriot Bill has just expanded this reporting requirement. Now it applies to most businesses in addition to banks. Now, if you go to a business and spend more than $10,000 in cash that business has to report your name, address, social security number and other pertinent information to the feds.
What does this have to do with international terrorism? The terrorists who attacked us did not deal in large amounts of cash. They carried picture ID cards and used credit cards. They NEVER spent $10,000 in cash with any business.
Don't make it sound like I am unaware of any dangers.................okay feinswinesuksass?
What's really the beef here? I didn't trash the President hard enough for your liking?