any drug dealer with a large bank account, let alone depositing and withdrawing large sums of cash, is using too much of their own product
Posted on 03/21/2015 7:27:08 AM PDT by Cheerio
Something stunning took place earlier this week, and it quietly snuck by, unnoticed by anyone as the "all important" FOMC meeting was looming. That something could have been taken straight out of the playbook of either Cyprus, or Greece, or the USSR "evil empire", or all three.
This is how the WSJ explained it:
The U.S. Justice Department’s criminal head said banks may need to go beyond filing suspicious activity reports when they encounter a risky customer.
(Excerpt) Read more at zerohedge.com ...
Bank accounts are not your property, check out bankruptcy rules. your deposits are liabilities that are LAST in line to get paid.
If we do have a CW2, there might be a small window for a coup with a constitutional re-boot.
Pray for this.
It totally sucks IMO, it's my damn money. Have you run into: "well you can only take out this much this day and this much the following days, bla bla bla".
It is at that point I go on about Dodd-Frank and do you know about this is why you are restricing me? I prolly got a ton of SAR's. Piss me off, they know us, they know our credit rating, and they treat us all like criminals...
I bet you could go to a casino and they would honor your check and give you chips and you could come and cash them out on a regular basis and you would be off the radar....
you trying to make me feel worse??? :)
The mortgage paperwork is absurd. It’s so complicated and long that no one ever reads or understands it. It’s the bureaucratic blindspot - bureaucrats believe that they can make things perfect with more and more regulations and thus, more and more paperwork. Simpler contracts work much better.
The IRS knows this, and stays complex on purpose.
any drug dealer with a large bank account, let alone depositing and withdrawing large sums of cash, is using too much of their own product
Unfortunately we have to LIVE IN THIS WORLD as changing those rules is even unlikely under a Republican. So what to do:
Considering that banks are paying out next to nothing in interest, and there is even talk about interest rates going negative (as is happening in Europe), the more logical thing to do is simply hang on to cash and HIDE IT, particularly if you have a house, at least in this country, as bad guys will not find it and house fires are very rare. In Europe it’s a bit different, because the bad guys come in when you’re home and demand that you tell them where the loot is (there, they don’t worry about you shooting them). A bit tougher in an apartment, but there are probably ways to conceal cleverly there too.
OBVIOUSLY don’t tip off anyone to what you have and try your best to minimize the amount of “contractors” that enter your house, as they are the biggest source of break-ins (i.e., the kids working for them, or their friends, specifically).
Taking out a big clump of money these days, unfortunately, is NOT WISE, as you set off alarms and can have that, along with your account seized. You then have to PROVE that you were not doing anything “bad” with the money...so you take it out slowly, under the radar, and simply hang on to it - at least until interest rates increase.
Freedom bound in ever tightening chains.
It is, but that is what the bastards that voted for Obama voted for.
Why effing bother keeping $20k in the effing bank when the piddlyshit interest you get doesn’t even keep up with cost of living inflation rates?
I have transfered large sums of cash between accounts online... no problems.
And that brings up an interesting question. I told the bank I needed my $6000 for home improvements. So no problem. Service with a smile. But now I wonder what they would have done had I given them an odd answer, or perhaps no answer at all.
Yes but I thought our effects and our persuit of happiness are ours under the Constitution. Not the preview of some banking commissar with orders from Comrade Frank and Dodd. If we want to roll around in it Nahkid it is our business, not so much after "Fundamental Transformation". And for the record I totally get some of these folks are our neighbors and they are friendly etc and love to chat, but even at times that gets to Payton Place for me. If I pull the money out to buy a Norton Commando, leather jacket and a helmet it's nobodies business but my own.....
Used to be a creditor of the bank.
Used to be? What do you feel they are now?
Liquidity.
And it makes the mattress lumpy.
Yeah, those are called "draws". Always been like that. Not always used to evade income tax, just used to pay their own bills.
I’ve been encountering this for about 2 years now. As a retired person living on my savings, I make quarterly transfers from savings to checking. It used to be that no one at the bank said anything to me, other than “Hello, how may I help you?” and “Thank you, have a nice day.” Now, every time I make a transfer, the teller engages me in inane conversation about what I’m going to do with the money: “Are you doing a home improvement project, or something fun?” And, the teller *always* signals the branch manager to come and stand next to her while he glances at me surreptitiously as she processes the transaction. Plus, they always put a 3-day hold on my transferred funds now, something they didn’t start doing until about a year ago.
I’m sure they’ve submitted a SARs report every time. Maybe they’ll start having the cops follow me home now too.
It sucks.
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