This is all about the law the government created that controls how much of your own money you can take out of the bank at any one time. The only “crime” here is that you want your money in cash and don’t want to leave it in the bank where the government can confiscate it.
Well said, and true. Thank you.
“This is all about the law the government created that controls how much of your own money you can take out of the bank at any one time. The only “crime” here is that you want your money in cash and don’t want to leave it in the bank where the government can confiscate it.”
no, in the USA you can take out as much cash as you want. there is, however, a reporting requirement that the bank report all cash transactions over $10K to FINCEN.
what Hastert was doing was to take out large amounts of cash at just under 10K per time to avoid the reporting requirement.
when people do that it is called “structuring” which is itself a felony.
Elliot Spitzer was caught up by the same law.
$3.5 million in payments indicates blackmail over something pretty nasty.
if DC is ever going to be cleaned up, dirty politicians have to be ruthlessly exposed, and all of the compromised have to be chucked.
Not how much of “your own money” but how many of “Their Federal Reserve Notes” (IOUs) are being withdrawn.
“Your own money” would be specified as redeemed Lawful Money per 12 USC Sec 411 either as deposit (non interest bearing account) or withdrawal...
You may get the same paper, but it changes ledger entries...